Share down over 34% (Il Sole 24 Ore Radiocor) - Frankfurt, 15 Jul - Shares in Baywa were sharply lower after the German conglomerate commissioned an external audit to define whether it can restructure its balance sheet due to a "tense" financial situation At 1224 GMT, Baywa was down 34.19% at 14.94 euros.

The company said that it believes that its financial situation can be sustainably reinforced.

In 2023, the year of its centennial, the company posted the first loss in its history, 93 million euros on sales of 24 billion.

The company suffered from higher interest rates which weigh on its more than 5 billion euro debt.

In the first quarter, the net loss reached 108 million euros.

Baywa did not release the name of the auditor nor when the report will be released.

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(RADIOCOR) 15-07-24 14:33:01 (0394) 5 NNNN