Société des Bains de Mer records 26% rise in sales
Fiscal 2022-2023 was a very good year for the Société des Bains de Mer (SBM) and its various subsidiaries! The Monegasque group achieved sales of 667 million euros during the period from February 1, 2022 to January 31, 2023, as indicated in its most recent revenue report.
Significant increase in Société des Bains de Mer sales
Visit SALES of SBM increased by 26% in the 2022-2023 financial year compared with the previous one. Indeed, in 2021-2022, the company had generated some 530 million euros in revenues. Year-on-year, SBM therefore earned an additional 136.5 million euros, excluding taxes.
In its revenue report, SBM states that its profit 72.2 million euros. Last year was so positive that the company’s CEO, Stéphane Valéri, decided to pay his employees a bonus of €2,000 per person.
” SBM has focused on improving its earnings in every possible business area. The results are there for all to see, and this is gratifying for all the company’s staff. “he said recently.
It should be noted that one major factor has had a definite impact on SBM’s annual sales. In the 2021-2022 financial year, various measures aimed at curbing the Covid-19 pandemic were still active, including travel restrictions and strict disinfection protocols.
As such, many events were affected by these measures, including the Monte Carlo Tennis Masters and the Formula 1 Grand Prix. While the Rolex Monte-Carlo Masters was held behind closed doors, the Formula 1 GP restricted the number of spectators allowed to watch the race. In addition, a curfew was in force until June 25, 2021.
Strong growth in table gaming revenues
If the increase in SBM’s sales covers all the Group’s business sectors, casino gaming seems to have seen the biggest increasewith sales of 215.4 million euros (versus 200.8 million euros in 2021-2022), representing growth of 7%.
The main reason for this increase lies in table gamessuch as roulette and blackjack, which were particularly attractive in 2022-2023 and which, compared with the previous year, enabled SBM to generate an additional 8 million in revenues. It goes without saying that the Group’s expectations for the 2023-2024 financial year are very high, especially as the company’s sales in the first two months of 2023 correspond to those of the entire 2022 financial year!
