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Study

Spring Barometer Restructuring und Transformation 2026

The Atreus study impressively highlights the need for restructuring among German companies in 2026.

The German economy is not only under pressure – it is increasingly slipping into a structural crisis mode. This is demonstrated by the current “Spring Barometer Restructuring and Transformation”, for which around 800 top executives – including managing directors, executive and supervisory board members, and interim managers – from various industries were comprehensively surveyed. The key finding: it is not individual shocks but the accumulation of multiple risks that is increasingly pushing companies off balance – while at the same time revealing that in many places responses come too late and are too hesitant.

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Companies react too late – and lose valuable time.

A central problem lies less in recognizing the crisis and more in the speed of the response. Many companies do identify risks, but their management reacts too late or not decisively enough. An overwhelming majority of around 82 percent of study participants acknowledge this worrying development. Decision-making processes take too long, transformation initiatives are delayed. In international comparison, this lack of speed is increasingly becoming a locational disadvantage. While competitors respond more quickly to market changes, German companies lose valuable time – often with significant financial consequences.

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Strategic realignment: moving away from old dependencies

The survey also reveals a clear shift in the international focus of many companies. The US market is increasingly viewed critically, not least due to potential economic policy interventions and considerable uncertainties. In contrast, alternative markets are gaining in importance. Regions such as India (58 percent) or the Mercosur countries (43 percent) are increasingly being seen as growth areas. This development is not only a reaction to risks, but also an expression of the strategic realignment of global business models.

Financing is becoming the bottleneck of transformation

With the growing number of restructuring cases, pressure on the financing side is also increasing. Banks are scrutinising much more closely whether companies have a realistic prospect of a successful turnaround. More than half of the study participants (54 percent) have already had this experience. This is leading to a noticeable selection effect: companies with a clear strategy and robust figures continue to have access to capital – all others quickly slide into a downward spiral. A lack of transparency and insufficient data quality further exacerbate this problem.

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„In restructuring situations, credibility is more decisive today than ever. Those who cannot present reliable data, a clear strategy and a convincing implementation model will find it increasingly difficult to win financing partners. Companies should therefore ensure maximum transparency at an early stage, significantly enhance their steering capability through robust data, and proactively engage in dialogue with capital providers. Only those who can deliver a realistic, operationally underpinned turnaround story will be able to assert themselves in this more selective financing environment.“

Digitalization remains piecemeal – AI is hardly used.

Despite all the challenges, one crucial lever often remains unused: consistent digitalization. In many companies it is acknowledged as important, but not driven forward with the necessary priority. As a result, it frequently does not receive sufficient focus (56 percent) and is sometimes simply treated as secondary because other issues are prioritised.

What matters now is clarity, speed, and execution strength.

The results of the Spring Barometer make one thing clear: companies face the task of fundamentally improving their ability to act. It is no longer enough to hope for better framework conditions. What is needed instead are consistent and early interventions before crises escalate, as well as accelerated decision-making processes and clear accountabilities. In addition, companies must build or acquire restructuring expertise and pursue strategic diversification into new markets and business models. Going forward, a radical improvement of the data foundation as the basis for steering and financing will be just as essential as embedding digitalization and AI as central elements of transformation.

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