Raiffeisenlandesbank NÖ-Wien reported a consolidated net profit of EUR 397.2 million for 2024, down from EUR 807.8 million the previous year, largely due to Raiffeisen Bank International's reduced earnings. Despite economic challenges, the bank improved its operating result and cost/income ratio, while focusing on qualitative growth and innovative customer solutions. The ongoing restructuring of Baywa continues to impact performance, with increased risk provisions anticipated for corporate loans amid rising insolvencies.
BayWa agrees on restructuring plan to address significant debt challenges
BayWa has reached a restructuring agreement with its major shareholders and creditor banks to address its significant debt by 2027, including a €150 million capital increase. The company plans to divest foreign holdings, starting with a 47.5% stake in RWA AG for €176 million, aiming to raise €4 billion to reduce its debt burden. Additional sales, including those of Cefetra and T&G Global, are also planned, with the divestment of BayWa r.e. expected to extend until 2027.
Raiffeisen Faces Challenges in Acquiring Baywa's Austrian Warehouse Stake
Raiffeisen is looking to acquire Baywa's stake in Austria's warehouses amid the latter's ongoing crisis. However, the purchase is expected to face significant challenges, complicating the potential takeover.
BayWA Faces Financial Crisis Amid Split from Raiffeisen Austria
BayWA is undergoing significant changes as it navigates a challenging separation from Raiffeisen Ware Austria (RWA). The Munich-based agricultural and food group is implementing a drastic savings program to avert bankruptcy, a consequence of its previous costly expansion efforts.
Carinthia Raiffeisen Acquires Majority Stake in Lagerhaus WHG from BayWa
Carinthia's Raiffeisen has acquired a majority stake in Lagerhaus WHG through a partnership with BayWa. This strategic move is set to enhance their market position and operational capabilities in the region.
BayWa Plans Major Sell-Off Including Stake in RWA by 2025
BayWa plans to divest its shares in RWA Raiffeisen Ware Austria by 2025 as part of a strategy to sell off nearly all foreign holdings by 2027. The agricultural giant aims to raise around four billion euros to significantly reduce its debt from over five billion euros, ensuring its financial stability. RWA, a key player in the Austrian Raiffeisen goods organization, generated €3.56 billion in revenue in 2023.
Reinhard Wolf to Depart RWA as Johannes Schuster Takes Over Leadership
Reinhard Wolf, CEO of RWA Raiffeisen Ware Austria, will depart on November 30, 2024, to focus on his role at BayWa, with Johannes Schuster succeeding him. Wolf has been instrumental in RWA's growth and innovation, particularly in expanding agricultural business and renewable energy initiatives.
BayWa plans restructuring and downsizing by 2027 amid financial challenges
BayWa plans to downsize by 2027, seeking fresh capital from shareholders to support its restructuring efforts amid significant debt exceeding €5 billion. The company aims to streamline operations, cut jobs, and sell parts of its business, while retaining its four divisions. Major shareholders, including Bayerische Raiffeisen-Beteiligungs AG and Austrian Raiffeisen Agrar Invest, are expected to contribute to a planned capital increase in 2025.
leadership transition at rwa as johannes schuster succeeds reinhard wolf
Reinhard Wolf, the long-standing Chairman and CEO of RWA Raiffeisen Ware Austria, will depart at the end of November 2024, transitioning to focus on his role at BayWa. Johannes Schuster, who has been CEO since January 2024, will succeed him on December 1, 2024, alongside Christoph Metzker. Wolf's tenure saw significant advancements, including the expansion of agricultural operations in Central and South Eastern Europe and a major acquisition in Serbia.
Raiffeisen Ware Austria appoints Johannes Schuster as new CEO
Reinhard Wolf will step down as Chairman of the Management Board and CEO of Raiffeisen Ware Austria AG on November 30, succeeded by Johannes Schuster in December. Wolf plans to focus on his role at BayWa, where he will assist until a new management team is appointed amid ongoing challenges.
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