Finatis announces its annual results for 2023 with a difficult financial assessment

On April 4, 2024, Finatis published its annual results for the year 2023, revealing a complex financial situation. The group announced that it had abandoned the principle of going concern in its 2023 consolidated accounts following a judicial liquidation procedure initiated with Rallye, Foncière Euris and Euris on March 28, 2024.

Finatis' financial results for 2023 show stable revenue at €17 million, but a net loss from continuing operations amounting to -€560 million, and a considerable net loss from discontinued operations of -8 048 million euros. The latter notably includes the full depreciation of goodwill on Casino for -896 million euros. Finatis' net financial debt also marked an evolution, going from 9,620 million euros in 2022 to 3,605 million euros in 2023.

In terms of Finatis' individual accounts, the net loss contracts to -15.1 million euros in 2023 compared to -311.3 million euros in 2022, mainly due to depreciation on its subsidiaries the previous year.

The abandonment of going concern and the transition to realization values mark a significant step for Finatis, reorienting the structure of its accounts in a difficult context. The company expressed its gratitude to the independent director at the end of its last board meeting, when the 2023 accounts were approved.