CAPELLI: Postponement of the publication of 2023-2024 annual results

CAPELLI, a company active in real estate, has been suffering the effects of the new housing crisis since the end of 2022. Faced with the collapse in reservations, the company has implemented several measures to stabilize itself. The marketing of certain programs was suspended, and a strategy of block sales to institutional investors was adopted.

A global debt reorganization protocol is being validated with 90% of bond lenders. CAPELLI is in discussions with a banking partner to co-develop new real estate projects, thus reducing its equity requirements and its debt. However, some emblematic projects are experiencing delays, such as Paris Grenelle and Howald South Village.

To alleviate the crisis, a drastic cost reduction plan was put in place, with a significant reduction in staff numbers and rental charges. The 2023-2024 annual report, initially planned earlier, will be published on September 29, 2024, the Group having informed Euronext Growth of this decision on July 19.