MASTRAD: Extension of the Observation Period as part of the Safeguarding Procedure

Paris, July 16, 2024 – MASTRAD (EURONEXT GROWTH: ALMAS; ISIN: FR0004155687), a company specializing in kitchen utensils, announces the six-month extension of the observation period by the Paris Commercial Court, until January 16, 2025. The objective is to verify the effects of the commercial actions carried out.

Since the start of the safeguard procedure, management has focused on business development in the United States via industrial customers and online sales. The first results are promising. However, turnover remains affected by the end of the Yummly activity by Whirlpool, despite an increase in online sales and royalties.

Mastrad, optimistic about the recovery of large customers, is investing in two new products which will be launched in the second half of 2024, hoping to revive profitable growth.

Management welcomes the Court's decision which makes it possible to validate current strategies and capitalize on future successes expected in the coming months.