Courtois S.A.: management transactions · France · AMF

About Courtois S.A.

COURTOIS S.A. is a family-controlled listed real estate company with deep historical roots in southwestern France and a current focus on property development, building renovation and asset management. The company traces its origin back to 1760 under the name Courtois et Cie, making it a long-established player in its regional economic ecosystem. In 1919, it was transformed into a public limited company, and in 1975 it adopted its current structure as Courtois SA. This long heritage is a notable differentiator in a real estate sector that is typically cyclical and capital intensive. Today, the group concentrates on residential and mixed-use development in the suburbs of Paris and in the South-West of France. Its business model combines several complementary activities: acquisition and enhancement of assets, renovation of buildings, execution of development projects and management of real estate holdings. This structure allows Courtois to capture value across different stages of the real estate cycle, from project sourcing and structuring to sales or rental operation. Recent disclosures also point to a meaningful contribution from targeted projects, especially in the Paris region, which suggests a focused strategy centered on selective, value-added developments rather than large-scale volume. From a financial markets perspective, Courtois S.A. is a small-cap stock listed on Euronext Paris, with limited market visibility but a strong patrimonial identity. The company appears to follow a disciplined approach, relying on carefully selected transactions and a closely monitored portfolio of assets. Its operations are often organized through dedicated entities or project vehicles, which is typical for a company managing individualized real estate operations. The latest published figures for 2025 show a rebound in consolidated revenue, mainly supported by sales linked to a Courbevoie project, while also highlighting the company’s sensitivity to project completion timing and transaction execution. Geographically, Courtois S.A. operates primarily in Île-de-France and in the South-West, with Toulouse as its historic base. This dual footprint reflects both its regional heritage and its effort to position itself in attractive real estate markets. Notable facts include the extraordinary longevity of the business, its family continuity and its ability to remain listed despite its modest size. For investors, Courtois S.A. can therefore be viewed as a niche real estate equity combining heritage, selective project development and direct exposure to underlying property values.