At its meeting on May 30, 2022, the Board of Directors of the Société des Bains de Mer approved the annual accounts for the 2021/2022 financial year, drawn up in accordance with IFRS international accounting principles.
The figures show turnover of 530.5 million euros compared to 336.9 million euros for the previous financial year previous with gaming revenue of 200.8 million euros compared to 124.3 million euros in 2020/2021 – hotel revenue of 213.3 million euros compared to 109 million euros previously – the continued growth of rental activities with turnover up 11 percent to €117.6 million.
However, turnover remains 14 percent lower than that achieved during the 2019/2020 financial year, when SBM was impacted only partly by a pandemic lockdown (from March 17).
Operating profit amounted to 35.4 million euros compared to a loss of €103.3 million the previous year and an operating profit of €22.6 million in 2019/2020.
Société des Bains de Mer and its subsidiaries achieved a turnover of 530.5 million euros for the full financial year 2021/2022 compared to 336.9 million euros in 2020/2021, an increase of 57 percent over the full year. This €193.6 million increase in turnover illustrates the recovery in activity despite a still unfavourable health context, SBM said.
The increase in turnover is the result of improved revenues across all business sectors. Even though activity in the 1st quarter (period from April to June) remained strongly impacted by the fall in the fact of the unprecedented nature of the health crisis (Rolex Monte-Carlo Master behind closed doors, Formula 1 Grand Prix with a limit on numbers), the summer season (period from July to September) then recorded a resumption of activity.
The second half of the year confirmed the trend noted during the summer period. Although a slowdown in activity was recorded on December 2021 and January 2022 with the arrival at the end of the holiday period of the fifth wave, the favourable trend was confirmed in February and March 2022.
PHOTO: SBM CEO Jean-Luc Biamonti SBM