FONCIERE EURIS SA publishes its 2023 annual results

FONCIERE EURIS SA announced on April 4, 2024 the publication of its annual results for the 2023 financial year. Following the audit carried out by the Statutory Auditors, the company noted significant changes in its financial operations.

In a context marked by financial difficulties, the companies Rallye, Foncière Euris, Finatis and Euris requested the resolution of their safeguard plans and the opening of a judicial liquidation procedure on March 28, 2024. The results were significantly affected by this situation, with a net result from discontinued operations reaching a loss of 8,028 million euros.

The net result from continuing operations shows a loss of 291 million euros for FONCIERE EURIS, impacted in particular by the accelerated amortization of the cost of debt. The company's net financial debt was also reduced, from 9,471 million euros to 3,432 million euros.

The group also reported a positive pre-tax current result for its individual accounts, although the net result was a loss of €35.7 million. This press release highlights the financial difficulties that the group is facing, in particular with almost zero value of its real estate portfolio.

The Board of Directors also thanked the independent administrator who is completing her mission after several years of supporting the company.