CAPELLI: Annual Results 2023-2024, between Crisis and Reorganization

Real estate developer CAPELLI has published its annual accounts for the 2023-2024 financial year. Faced with a deep crisis in the real estate market, the company recorded an operating loss of 25.4 million euros. CAPELLI was particularly affected by a drop in sales due to high interest rates and rising construction costs.

At the same time, the group renegotiated its bond debt, a plan validated at 95% by its creditors, extending the repayment over four years. Despite this reorganization, the accounts could not be certified. A cost reduction strategy was put in place, significantly reducing the workforce to 97 employees.

To improve its profitability in 2024-2025, CAPELLI is focusing on co-development and the rehabilitation of buildings. Although signs of market improvement are perceptible, the group is keeping a close eye on economic developments.