on CAPELLI (EPA:ALCAP)
CAPELLI: An Update on the Situation and Postponement of the Publication of Annual Results
The real estate market has been going through a deep crisis since the second half of 2022, seriously impacting reservations for new housing. CAPELLI, a player in the sector, has taken several measures to ensure its sustainability. Among these, the acceleration of block sales to institutional investors now represents 100% of activity.
Faced with this situation, CAPELLI had to postpone or abandon the marketing of various real estate programs, a strategy that affected the results due to the costs already incurred. The company is currently negotiating a debt reorganization plan with its financial partners and has signed an agreement with a banking subsidiary to co-develop real estate programs.
CAPELLI also implemented a drastic cost reduction plan, reducing its workforce from 180 to 97 employees and reducing its rental charges. Due to the disruptions, the publication of the 2023-2024 annual report is postponed until September 29, 2024.
R. E.
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