Réalités: conciliation procedure with creditors

(CercleFinance.com) - Réalités, a regional real estate developer, announced on Wednesday that a conciliation procedure had been initiated with the Nantes Commercial Court in order to continue restructuring its debt.


Faced with difficult conditions in the real estate market, the group had seen its sales fall by around 33% to 125 million euros in the first six months of the year.

It had managed to post a net profit of 2.1 million euros last year, but its debt still stood at 86.9 million euros at the end of 2023, compared with a cash position of 47.1 million euros.

Against this backdrop, the group decided to implement a job-saving plan, halt its impact investments, finalize the clean-up of its real estate project portfolio and accelerate its asset disposal policy.

On the Paris Bourse, its share price was booked lower on Wednesday morning, having fallen by 27%, bringing its decline since the start of the year to 78%.

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