Half-year results 2024: REALITIES in the face of the real estate crisis

The REALITES group has published a strongly negative net result for the first half of 2024, in a context of real estate crisis. Turnover fell by 29.5% to 121.4 million euros. This decline is mainly due to a drop in sales of new homes and a virtual standstill in the tertiary market. EBITDA also suffered, reaching -38.5 million euros, impacted by losses in projects that had become unprofitable.

REALITES has initiated a restructuring, refocusing its activities and proceeding with asset disposals. The project pipeline has been reduced to adjust to the new market conditions. The group is implementing strict measures to maintain its cash position, currently at €29.3 million.

Drastic measures have been announced, including a debt conciliation procedure, sales, and a job protection plan. REALITES is aiming for a rebound in 2025, relying on the loyalty of its partners and the commitment of its teams.