What happened to BKW stock today?

BKW stock is reacting to a CHF110 million impairment on the Wilhelmshaven coal plant and a cut to 2025 EBIT guidance to CHF540 to 560 million. The company kept 2026 EBIT guidance at CHF650 to 750 million. We see 2026 as the main valuation anchor for investors.

How does the Wilhelmshaven write-down affect results?

The CHF110 million write-down is non cash and reduces the carrying value of the coal asset. It reflects lower expected cash flows from flatter power prices and regulation. More importantly, management reset 2025 EBIT to CHF540 to 560 million, while keeping 2026 guidance unchanged, which steadies medium term expectations.

What is the Hamm gas project and why does it matter?

BKW plans a 40% stake in a hydrogen ready gas plant in Hamm, Germany. The project adds flexible capacity to back up renewables and could support earnings from 2026 onward. Success depends on approvals, contracting, and power market design that supports capacity payments and reliable returns.

Is BKW stock attractive after the guidance cut?

On 18.05 times TTM earnings with a 2.41% dividend yield, BKW stock looks fairly priced given near term uncertainty. Our system grade is B+, with a Neutral stance today. We would watch March guidance, power price trends, and progress on Hamm before taking a more decisive view.

Global Market Insights

BKW.SW Stock Today: January 21 CHF110m Write-Down Cuts 2025 Outlook

ByHuzaifa Zahoor January 22, 2026January 22, 2026

BKW stock is in focus as the Swiss utility confirms a CHF110 million impairment tied to its Wilhelmshaven coal plant and trims 2025 EBIT guidance to CHF540 to 560 million from CHF650 to 750 million. The company keeps 2026 EBIT guidance at CHF650 to 750 million, which we see as the key near term valuation anchor. For Swiss investors, the mix shift toward flexible capacity, including a planned 40% stake in Hamm, matters for earnings quality and cash flow. We track BKW.SW for updates into March.