BayWa (BYW) Q3 2025 earnings summary

Executive summary

• Comprehensive restructuring initiated due to liquidity, earnings, and strategy crisis in H2 2024, with a legally binding agreement reached with key creditors and anchor shareholders by June 2025.

• Structural and operational transformation is well advanced, with strengthened liquidity and increased customer and supplier confidence.

• Major divestments include the completed sale of RWA and ongoing negotiations for the sale of Cefetra Group B.V.

Financial highlights

• Revenue for the first nine months of 2025 declined by 22.2% year-over-year to €9.6 billion, mainly due to deconsolidation effects and lower prices for key raw materials.

• Cost discipline, site closures, and personnel measures have improved revenue profitability despite lower sales.

Outlook and guidance

• Earnings forecasts for 2025 have been withdrawn due to regulatory changes in the US affecting the Renewable Energies Segment, specifically the One Big Beautiful Bill Act (OBBBA).

• The Board remains confident in the ongoing transformation and focus on four core business areas.