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Restructuring Barometer Germany Autumn 2025

Economic uncertainty is weighing on companies—business models must be reevaluated

The situation remains critical for German companies in view of the ongoing economic downturn and sluggish economy. As a result, there is still a high need for restructuring, which is likely to increase even further in the coming months. The latest “Restructuring Barometer Germany Autumn 2025” from Atreus illustrates how companies must now set the course for a holistic transformation: The results underscore ongoing uncertainty in global markets—while also highlighting clearly defined drivers for sustainable growth, such as digitization and AI, which can point the way out of stagnation. Companies that establish a clear target architecture, robust governance, and data-driven implementation structures now will significantly increase their chances of resilient success.

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Skepticism influences strategic decisions at all levels

According to the results of a survey of around 600 top executives — including managing directors, board members, supervisory board members, and interim managers — from various industries, the greatest challenge lies in economic uncertainty: Around 58 percent of companies expect the overall economic situation to deteriorate in the coming six months — once again significantly more than in Atreus’s last spring barometer. This skepticism is not a temporary phenomenon, but influences strategic decisions at all levels and drives demand for stable transformation paths.

Nevertheless, companies’ views of their own industry reveal a differentiated dynamic: although the expectation of a downturn is widespread here too, the willingness to invest and innovate remains – albeit driven by a cautious or skeptical underlying sentiment.

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„The many challenges of the past five years have laid bare the vulnerability of the global economic system and its he many challenges of the past fie years have laid bare complex, multi-layered interdependencies. Consequently, businesses can no longer rely solely on concepts and methods that worked in past decades. Stagnation is, in effect, regression. Instead, they must continually question their assumptions, pursue steady improvement, and occasionally reinvent themselves.“

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Willingness to invest remains low despite geopolitical tensions

One striking finding of the Autumn Barometer is that, from a corporate perspective, only a few regions outside China and the US are even considered for investment. Europe and – some way behind – South America are still the most popular alternatives. However, Europe in particular has seen a clear decline compared to the spring survey. The vast majority also continue to plan no investments outside the key markets of China and the US, despite increasing geopolitical tensions. Against this backdrop, internal efficiency gains, more agile governance, and more targeted digitalization are essential to compensate for dependencies and decouple business from possible further uncertainties in China and the US.

Sustainability is largely viewed critically

In this context, the innovative strength of German industry is also assessed as mixed. On the one hand, around 36 percent of respondents rate it as rather high, while on the other hand, one-third see a significant need for improvement in a wide range of industries. The future viability of industrial sectors is viewed critically to cautiously optimistic: 43 percent see themselves as well positioned, while 18 percent see a rather vulnerable outlook. It follows that restructuring here requires not only cost reduction, but also strategic repositioning with a focus on sustainable value creation, new business models, and data-driven platforms.

The fact is: digitalization remains the key driver of transformation and restructuring processes. More than half of companies cite digital developments as the main cause, followed by cost pressure and efficiency gains. The emerging influence of AI is seen as the most important driver of transformation. Around 39 percent rate the influence of AI as rather large, 16 percent as very large; a significant proportion are neutral or cautious. There is a high level of willingness to expand AI in the short term: 44 percent plan to use it within the next 12 months, and another 38 percent are reviewing it or expect projects to start soon. Larger companies are leading the way in this development, with smaller companies following suit – although they are sometimes significantly more skeptical or slower to act.

“Digitalization must not be put on the back burner.”

Tibor Reischitz, director and restructuring expert at Atreus, explains: “Many companies still have a lot to learn in terms of mindset, performance, response speed, technological development speed, and innovation capability. They must have the courage to question their business model and proactively develop new approaches. The innovative approaches that emerge from this environment can not only guide companies through the current crisis, but also ensure their long-term success. Otherwise, it will be difficult.”

Governance, stakeholder management, and change management

The prospects for the future are therefore clearly outlined: Companies should view restructuring as a holistic transformation that links strategy, processes, technology, and organization. Early investment in digital platforms, data, and analytics is necessary to increase transparency, accelerate decision-making processes, and reduce implementation difficulties. The use of AI should be proactively planned at management level and expanded step by step, supported by clear governance and change management measures. Conclusion: Companies in Germany must make the most of the coming months to set priorities, identify risk areas early on, and expand their digital capabilities in a targeted manner.

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