Overview

• The Munich group disclosed in an ad‑hoc filing that changed US regulation could lower BayWa r.e.’s US earnings and affect the group plan.
• President Trump’s “One Big Beautiful Bill” would scale back and phase out Inflation Reduction Act tax credits through 2028, directly hitting US wind and solar projects.
• BayWa r.e. will reassess its long‑term plans and earnings expectations over several weeks and may reduce forecasts.
• BayWa said it may deploy countermeasures at the parent level to safeguard the restructuring, which relies on r.e. earnings and distributions.
• Management still targets completing the turnaround by end‑2028, while a separate Munich prosecutor probe into pre‑crisis accounting remains open.