Restructuring and cost reduction at Aventador

On September 18, 2024, Aventador (Euronext Growth Paris, Ticker: ALGRE- ISIN: FR001400IV58) announced several important measures. The Commercial Court of Lyon ordered the liquidation of Naka and Les Toques Blanches du Monde, subsidiaries owned respectively at 51% and 100%. A judicial recovery with a divestment plan is envisaged for Unis Fish and Food.

The management wants to stop financing unprofitable companies. These decisions aim to clean up the accounting situation without resorting to dilutive financing. In addition, cost-saving measures have been put in place, including the termination of the contracts of former managers and a drastic reduction in head office costs, resulting in savings of €1,162,504.

Finally, Aventador signed letters of intent for the acquisition of two profitable companies, one in sports and the other in renewable energy.