Post by European Association of Certified Turnaround Professionals- EACTP

Five cases. One standard. This is what defines a European Turnaround Practitioner. How do you restructure a legacy engineering group burdened by reputational damage, acute liquidity pressure, and value-destructive contracts across multiple geographies? 📉🏭 As we conclude our profile series of the finalists for the 2026 EACTP Turnaround Practitioner of the Year Award, we turn to Christian Klingler: a case that shows how deep operational intervention can recover a highly complex industrial platform. THE CHALLENGE Christian assumed leadership of a legacy European engineering and manufacturing group following its acquisition from state ownership. The situation was critical. The business was affected by longstanding reputational issues, structurally high costs, and a destabilised supply chain. Six of the seven business units were loss-making. A complex matrix structure had blurred accountability. High-risk EPC (Engineering, Procurement, and Construction) projects were accelerating cash burn. THE INTERVENTION Operating as both Chairman and Interim CEO, Christian led a hands-on, site-level transformation. Value-destructive EPC activities were exited to refocus the business on core manufacturing capabilities. The matrix structure was dismantled and replaced with clear site and product-level accountability. At the same time, direct negotiations with key suppliers stabilised the supply chain and halted the structural cash burn within a defined timeframe. THE RESULT The intervention delivered a fundamental structural shift. The business moved from a deeply negative EBITDA position prior to acquisition to a positive adjusted EBITDA of €20 million by year two. Now repositioned as a stable and scalable industrial platform, the organisation is forecasting over €45 million in near-term earnings, with a clear focus on growth and exit readiness. THE MARKET LESSON Complex industrial turnarounds are not solved through financial measures alone. They require sustained operational leadership, clear strategic focus, and disciplined execution. Restoring supply chain confidence and organisational accountability is often what determines whether value can be recovered. Congratulations, Christian Klingler, on a highly effective and technically rigorous transformation. 👏 This completes our look at the five cases defining the standard. #EACTP #TurnaroundManagement #CorporateRestructuring #IndustrialTransformation #ValuePreservation #OperationalRestructuring