RALLYE SA 2023 annual results: a difficult financial context

The RALLYE SA group has disclosed its annual results for the 2023 financial year, marked by significant financial difficulties and radical decisions. The board of directors approved the consolidated accounts for 2023, abandoning the principle of going concern and classifying the assets and liabilities of the Casino group as being held for sale, in accordance with IFRS 5.

The company also announced the request for the resolution of its safeguard plans and the opening of judicial liquidation proceedings, significantly affecting its results. Net income from continuing activities reached -490 million euros compared to 9 million euros in 2022, while discontinued activities recorded a net loss of -8,009 million euros.

The consolidated net income of the whole thus amounts to -8,499 million euros for the year 2023, demonstrating the extent of the difficulties encountered. The shift from gross financial debt to net financial debt also illustrates the financial challenges, with a notable increase in gross financial debt, amounting to €3,257 million.

At the same time, RALLYE's individual accounts show a net result of -2,620 million euros, including significant capital losses and a considerable increase in financial charges. These results demonstrate the critical situation in which the group finds itself, having to abandon its activities and initiate judicial liquidation proceedings.