REALITES 2024 Half-Year Results

The REALITES group announces a strongly negative net result for the first half of 2024. In a context of severe real estate crisis, this result marks the end of a cycle. Restructuring actions have been undertaken to refocus the group and sell certain assets. The transformation strategy is beginning to bear fruit despite the persistent difficulties.

Consolidated revenue contracted by 29.5% to €121.4 million. EBITDA and operating income showed significant declines, standing at -€38.5 million and -€73.9 million respectively. At the same time, the group had to manage cash flow difficulties and the decline in its land portfolio.

REALITES has implemented strict measures to redress its financial situation, in particular by strengthening cash flow management and considering a restructuring of its debt. The sustainability of the group depends on the continuation of these efforts in 2024.