(Boursier.com) — The Société des Bains de Mer and the Cercle des Etrangers in Monaco and its subsidiaries realized during the 1st quarter a turnover in slight decrease of -2% compared to that of the same period of the previous financial year. The consolidated turnover of the SBM Group amounted to 203.3 ME (207.8 ME previously), a decrease of 4.5 ME.
All business sectors show an increase in turnover, with the exception of the gaming sector, which experienced particularly unfavorable risks over the period, which corresponds to the nature of this type of activity.
The area games records a turnover of 56.3 ME for the past quarter (68.9 ME last year). Despite an increase in attendance, turnover is down 18%, the uncertainties in the months of April and May having been particularly unfavourable. Turnover hotelier amounted to 111.1 ME (104.6 ME for the same period of the previous year), an increase of 6%. THE rental sector of the SBM Group, which includes the rental activities of shops and offices as well as the activities of the hotel residences of Sporting, Balmoral, Villas du Sporting and One Monte-Carlo, posted a turnover of 32 ME (31.2 ME for the same period of the previous financial year), an increase of 0.7 ME. This increase is mainly due to the gradual letting of the last spaces at One Monte-Carlo.
The activity of the SBM Group over the first 3 months of the new 2023/2024 financial year is therefore confirmed at a sustained level which is based on the good positioning of the Resort’s offers. However, the Group’s activities, dependent on the economic and financial context, and the random and seasonal nature of the activity, in particular in the gaming sector, do not allow, at this stage, to make forecasts for the whole of the 2023/2024 financial year.
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