From GlobeNewswire: 2024-11-26 12:15:00

Societe des Bains de Mer et du Cercle des Etrangers a Monaco reports strong growth and solid results for the first half of the 2024/2025 fiscal year. Revenue increased by 11% to 495.1 million euros, driven by summer activity, the opening of Amazónico restaurant, and the reopening of Café de Paris Monte-Carlo.

President-Delegate Stéphane Valeri highlights the success of the summer season, with strong performance in hotel and restaurant sectors. The Board of Directors, led by Valeri, approved the financial statements for the first half of the 2024/2025 fiscal year, showing growth in revenue, operating profit, and net income.

Financial results for the first half of the 2024/2025 fiscal year show a consolidated revenue of 495.1 million euros, up by 49.6 million euros from the previous year. Key drivers include increased hotel revenue, stable gaming revenue, and record leasing activities.

The consolidated operating profit for the period stands at 93.9 million euros, reflecting growth in hotel and leasing sectors. The positive financial result of 25.7 million euros is attributed to strong investment returns and reduced financial debt charges.

Net income for the first half of the 2024/2025 fiscal year is 119.7 million euros, indicating financial stability and growth. The company’s cash position also improved, with a positive net cash balance of 192.2 million euros at the end of September 2024.

Looking ahead, Societe des Bains de Mer faces uncertainties in the gaming sector due to its random nature. While the company’s business model is robust and diversified, short-term fluctuations in gaming revenue pose challenges for forecasting in the 2024/2025 fiscal year.



Read more at GlobeNewswire:: Le Groupe S.B.M. confirme sa forte