BayWa (BYW) Q1 2025 earnings summary

Executive summary

• Ongoing reorganisation and restructuring under new management aims to address crisis risks, reduce debt, and refocus on core business.

• Revenues in Q1 2025 declined 9.2% year-over-year to €4.7 billion, mainly due to one-off transformation effects.

• Sale of 47.53% stake in RWA AG completed in May 2025, reducing bank liabilities by about €500 million.

• Personnel reductions (~700 positions) and site closures, especially in Building Materials, are progressing as planned.

• Restructuring plan under StaRUG accepted by creditors; court confirmation expected June 2025.

Financial highlights

• Q1 2025 revenues: €4.7 billion, down from €5.2 billion in Q1 2024.

• Sale of RWA AG stake generated €176 million and will reduce liabilities by €500 million.

• Personnel and restructuring measures expected to improve earnings quality, adjusted for one-off effects.

Outlook and guidance

• Implementation of reorganisation concept expected to complete by end of June 2025, with financial receivables extended to 2028.

• Further segment divestitures, including Cefetra Group, are planned but not yet scheduled.