BENETEAU supports its Italian subsidiary GBI SPA with a debt waiver

On September 30, 2024, the Board of Directors of BENETEAU SA authorized a debt waiver of €5 million in favor of its Italian subsidiary GBI SPA. This decision is made to cover GBI SPA's losses and allow it to comply with the requirements of the Italian Civil Code on minimum equity required.

This initiative aims to strengthen BENETEAU's activities in Italy while maintaining the financial stability of GBI SPA. The two entities share the same representative: Gianguido GIROTTI, Deputy Managing Director of BENETEAU SA and Chairman of the Board of Directors of GBI SPA.

In accordance with Article L.225-38 of the French Commercial Code, the purpose of this regulated agreement is to ensure the continuity of operations and the proper maintenance of the accounts of the Italian subsidiary, even during periods of low seasonality.