Restructuring in Germany

2008

In February/March 2008, Roland Berger Strategy Consultants conducted, for the fourth time since 2001, an extensive survey on the development of reorganization projects. Board members and managing directors of more than 800 companies were polled. The objective of the survey was to determine what causes corporate crises and identify the key success factors in resolving them.

This year, one focus was on the effects of the subprime crisis. We have compared the results to those of previous surveys to make statements on general trends.

The study surveyed approximately 800 CEOs and managing directors at German companies. Of those surveyed, only 9% believe that their companies will experience substantial direct effects (overall economy 35%). However, the majority of companies in the study are expecting lending terms to get worse and economic growth to slow down. The most important topics for the future are strategic issues such as growth, expanding market share and investing in research and development. The funds for these plans are to come primarily from operating business. 73% of the companies said that they would have to restructure in the medium term.