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BayWa AG: Acceptance of the restructuring plan in the StaRUG proceedings
StaRUG at BayWa - But only a little bit
The crisis-ridden BayWa Group is tightening the thumbscrews for some of its financial creditors. They are now to be forced to agree to the restructuring concept and extend their loans until 2027. There are no plans for the lending banks to waive their claims. However, this may delay the publication of the annual and consolidated financial statements for the 2024 financial year.
Shareholders should not be affected.
https://www.wochenblatt-dlv.de/maerkte/baywa-krise-konzern-greift-harten-mitteln-579527
30.09.2024
BAYWA - Banks keep quiet until the end of the year + Eurozone inflation falls slightly in September + China's stock markets take off
With Baywa $BYW6 (-14,13%) there are still no signs of a lasting solution to the current financial problems. Although the BayWa Group has been granted an extended "grace period" by the banks and its financial leeway has been extended by EUR 500 million, shareholders do not yet know how they will be asked to pay. By the end of the year, there should be clarity and a financing solution should be found by the end of 2027.
Inflation in the eurozone is moving steadily in the desired direction - downwards. In August, consumer prices rose at an annual rate of just 2.2% (July: 2.6%). However, the picture was clouded by the component that the ECB suspects will cause sustained inflationary pressure in the future - consumer prices in the service sector. They rose at an annual rate of 4.2 (4.0) percent. Analysts will also be paying particular attention to this component in the September publication. A decline to 1.8% is forecast for the overall inflation rate and an unchanged 2.8% for the core inflation rate.
"Since the announcements of monetary easing measures by the central bank on Tuesday, both the Hang Seng in Hong Kong and the Shanghai Stock Exchange have gained more than 12 percent, ending today the strongest trading week since 2008," writes Robomarkets. From a technical point of view, a sustained recovery could develop from this liberation from the months-long downward phase. "Liquidity is the fuel for the stock market and there is now more than enough of it in China. The hope of a change in sentiment and an economic upturn in China is also driving share prices around the world higher." Support for the stock markets is also coming from another source. After weak economic data from Europe in particular, but also from the USA in some cases, more aggressive interest rate cuts by the ECB and the US Federal Reserve are now being priced in than previously expected. The markets are now tending towards a further interest rate cut in the eurozone in October and are increasingly pricing in another major US move downwards of 50 basis points in November
Monday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
Stryker USD 0.80
Deere 1.47 USD
Xerox Holdings USD 0.25
Mondelez International Registered (A) USD 0.47
US Bancorp USD 0.50
Quarterly figures / Company dates USA / Asia
No time specified: ResMed Investor Day
Quarterly figures / Company dates Europe
07:00 Adler Group annual results
Untimed: Roche Pharma Day 2024
Economic data
- 08:00 DE: Import/export prices August
- 08:00 UK: GDP (2nd release) 2Q
- 10:00 DE: Consumer prices North Rhine-Westphalia | Bavaria | Brandenburg | Hesse | Saxony | Baden-Württemberg September
- 11:00 IT: Consumer prices (preliminary) September
- 14:00 DE: Consumer prices (preliminary) September
- 15:45 US: Chicago Purchasing Managers Index September
- 16:30 US: Dallas Fed Manufacturing 9/24
StaRUG is approaching or ?
How is the mood ?
but starug at Baywa would have been a tough one
Billions in debt pile up
Baywa has to withdraw forecast - former board member settles accounts with successor
06:22 - Finance100
The agricultural group Baywa is heavily in debt. Now the company has to cut its targets. Klaus Josef Lutz, Baywa's long-standing board member, has now settled accounts with his successor. He is probably not the right person for the current challenges.
Indebted Baywa withdraws forecast
At the same time, Baywa announced preliminary figures for the first half of the year, which are, however, subject to the review of assets to be carried out. For this reason, the publication of the half-year report, which was originally scheduled for August 8, has been postponed to September 27, as Baywa also announced.
Baywa, which emerged from the cooperative movement
with around 24,000 employees, has current and non-current liabilities of around 5.6 billion euros. Due to the rapid rise in interest rates on loans, the company's interest burden has tripled to 362 million euros between 2021 and 2023. Ten days ago, the Group published its "strained" financial situation and the appointment of a restructuring expert in a mandatory announcement to the stock exchange.
This caused concern not only in the financial scene: Baywa is of considerable importance for the food supply in southern Germany. The company is not only a supplier of seed, fertilizer and agricultural machinery, but also buys many farmers' crops. Many farmers are also small shareholders in the company.
Source: $BYW6 (-14,13%) Finance 100
BayWa AG: Share crash after order for restructuring report
The BayWa Group is in crisis. An expert is to assess the strained financial situation. This announcement has consequences.
The BayWa-Group cannot rest. The Schuldenlast des Mischkonzerns is apparently so huge that a restructuring restructuring report is to assess the situation. Late on Friday evening (12.7.), the company announced in an ad hoc announcementabout the step.
"BayWa AG has commissioned a restructuring report. This is BayWa's response to a strained financing situation", the press release states succinctly. The Board of Management assumes that the financial situation can be sustainably strengthened on the basis of "constructive discussions with financing partners and the measures initiated". BayWa is thus continuing to pursue its consolidation course.
BayWa share plummets at the start of trading
Nevertheless, the stock market reacted to the news from Munich with extreme concern. Over the weekend, the share of the agricultural trader, which is groaning under billions in debt, lost around 20 percent in pre-market trading.
In a briefing on the market situation this morning (July 15), Deutsche Börse AG expected the share price to plummet by more than 30 percent.
In fact, one hour after the opening of trading in Frankfurt, the share price was quoted at just EUR 13.80; this was 38 percent less than on Friday before the commissioning of the restructuring report was announced. The share price subsequently recovered somewhat.
finally BayWa first purchase 😍
With $OHB (-6,03%) one of my oldest positions in the portfolio will disappear from the price list.
From a financial point of view, this is already very ok with +550% since 2005, the highest price was once just under 50€. Nevertheless, it is a pity not to be able to be there anymore. I am sure that quite different figures will be generated in the next few years 💰💰💰
Now the question inevitably arises, where to put the cash ? Additional purchases at $BYW6 (-14,13%)
$PSAN (+0,11%)
$GSC1 (-2,37%) or also $COK (-2,87%) ? Or simply further $XD5E (-0,7%) expand? First World Problems 😉
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