{"id":315464,"date":"2025-09-22T16:23:17","date_gmt":"2025-09-22T14:23:17","guid":{"rendered":"https:\/\/www.monaco-tribune.com\/2025\/09\/buoyed-by-record-year-and-good-summer-quarter-sbm-confirms-international-appetite\/"},"modified":"2025-09-22T16:26:32","modified_gmt":"2025-09-22T14:26:32","slug":"buoyed-by-record-year-and-good-summer-quarter-sbm-confirms-international-appetite","status":"publish","type":"post","link":"https:\/\/www.monaco-tribune.com\/en\/2025\/09\/buoyed-by-record-year-and-good-summer-quarter-sbm-confirms-international-appetite\/","title":{"rendered":"Buoyed by record year and good summer quarter, SBM confirms international appetite"},"content":{"rendered":"\n<p><strong>On Friday 19 September, St\u00e9phane Valeri restated his ambitions to turn the Monegasque flagship into a group with an international stature.<\/strong><\/p>\n\n<p>At the close of the Ordinary General Meeting of Shareholders on 19 September 2025, it was a smiling Soci\u00e9t\u00e9 des Bains de Mer CEO who held a press conference in which he restated his ambitious vision, encouraged by a profit of 35.6 million for the 2024-2025 financial year.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-des-resultats-financiers-records\"><strong>Record financial results<\/strong><\/h2>\n\n<p>St\u00e9phane Valeri began by emphasising the Group&#8217;s financial health, a solid foundation for\u00a0<a href=\"https:\/\/www.monaco-tribune.com\/en\/2025\/01\/monte-carlo-beach-hotel-de-paris-cellars-marlow-sbms-big-announcements-for-2025\/\">pursuing its large-scale projects<\/a>. For the 2024-2025 financial year, SBM is forecasting 9% turnover growth to \u20ac768 million, buoyed in particular by the opening of the Amaz\u00f3nico restaurant in April 2024 and the reopening of the Caf\u00e9 de Paris Monte-Carlo in November 2023. Operating profit stands at \u20ac74.5 million, while net profit was \u20ac110.1 million, an increase of \u20ac6.2 million on the previous year.<\/p>\n\n<p>The upward trend was confirmed during the summer season (July and August), with turnover up 7% on the same period last year, across all sectors. <\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"682\" height=\"1024\" src=\"https:\/\/www.monaco-tribune.com\/wp-content\/uploads\/2025\/09\/conference-de-presse-consecutive-a-lag-19.09.2025-@monte-carlo-societe-des-bains-de-mer-10-grande-682x1024.jpeg\" alt=\"\" class=\"wp-image-315227\" srcset=\"https:\/\/www.monaco-tribune.com\/wp-content\/uploads\/2025\/09\/conference-de-presse-consecutive-a-lag-19.09.2025-@monte-carlo-societe-des-bains-de-mer-10-grande-682x1024.jpeg 682w, https:\/\/www.monaco-tribune.com\/wp-content\/uploads\/2025\/09\/conference-de-presse-consecutive-a-lag-19.09.2025-@monte-carlo-societe-des-bains-de-mer-10-grande-200x300.jpeg 200w, https:\/\/www.monaco-tribune.com\/wp-content\/uploads\/2025\/09\/conference-de-presse-consecutive-a-lag-19.09.2025-@monte-carlo-societe-des-bains-de-mer-10-grande.jpeg 853w\" sizes=\"auto, (max-width: 682px) 100vw, 682px\" \/><figcaption class=\"wp-element-caption\">\u00a9 Monte-Carlo Soci\u00e9t\u00e9 des Bains de Mer<\/figcaption><\/figure>\n<\/div>\n<h2 class=\"wp-block-heading\" id=\"h-l-immobilier-pilier-de-croissance\"><strong>Real estate for growth<\/strong><\/h2>\n\n<p>The CEO then announced a number of property projects that should boost the group&#8217;s income. SBM plans to demolish some existing properties to create a complex combining the thermal baths and the Casino terraces building &#8211; currently occupied by the Rothschild bank &#8211; to create hotel residences and luxury shops. The project is currently being examined by the government and the Direction de la prospective de l&#8217;urbanisme et de la mobilit\u00e9 (DPUM &#8211; Department of Forward Studies, Urban Planning and Mobility).<\/p>\n\n<blockquote class=\"wp-embedded-content\" data-secret=\"NLnJika8pv\"><a href=\"https:\/\/www.monaco-tribune.com\/en\/2025\/05\/financial-results-record-year-for-sbm\/\">Financial results: record year for SBM<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Financial results: record year for SBM&#8221; &#8212; Monaco Tribune\" src=\"https:\/\/www.monaco-tribune.com\/en\/2025\/05\/financial-results-record-year-for-sbm\/embed\/#?secret=6UbJZVqCC8#?secret=NLnJika8pv\" data-secret=\"NLnJika8pv\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n\n<p>The second major project, subject to approval by the Minister of Public Works, the Environment and Urban Development, C\u00e9line Caron-Dagioni, is the possible upward extension of the Monte-Carlo Bay building.\u00a0<em>&#8220;We could add a further four storeys without having to reinforce the structure, so as to house large, high-quality residences there,&#8221;<\/em>\u00a0says St\u00e9phane Valeri.<\/p>\n\n<p>SBM was also delighted with the excellent results achieved by the H\u00f4tel Hermitage and the Monte-Carlo Bay,\u00a0<em>&#8220;despite 20% of their rooms being out of use&#8221;\u00a0<\/em>and the ongoing renovation work on an occupied site. When asked about the reconfiguration of Le M\u00e9ridien Beach Plaza, St\u00e9phane Valeri confirmed SBM&#8217;s interest, but it is not a priority.\u00a0<em>&#8220;There&#8217;s incredible potential, but the state is in control. We have a very fine hotel and hotel residence project,&#8221;<\/em>\u00a0he said, adding that a competitive tender would take place.<\/p>\n\n<blockquote class=\"wp-embedded-content\" data-secret=\"HcleKZM8HL\"><a href=\"https:\/\/www.monaco-tribune.com\/en\/2025\/07\/cedric-grolet-in-monaco-what-looks-good-brings-people-in-what-tastes-good-brings-them-back\/\">C\u00e9dric Grolet in Monaco: &#8220;What looks good brings people in, what tastes good brings them back&#8221;<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;C\u00e9dric Grolet in Monaco: &#8220;What looks good brings people in, what tastes good brings them back&#8221;&#8221; &#8212; Monaco Tribune\" src=\"https:\/\/www.monaco-tribune.com\/en\/2025\/07\/cedric-grolet-in-monaco-what-looks-good-brings-people-in-what-tastes-good-brings-them-back\/embed\/#?secret=3aobafddcD#?secret=HcleKZM8HL\" data-secret=\"HcleKZM8HL\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n\n<h2 class=\"wp-block-heading\" id=\"h-une-expansion-internationale-en-cours\"><strong>International expansion underway<\/strong><\/h2>\n\n<p>SBM is continuing to develop its international footprint with the planned opening of a Monegasque restaurant in Dubai, serving Mediterranean cuisine using French and Italian ingredients.<\/p>\n\n<p>In the gaming sector, two floating casinos &#8216;made in Monte-Carlo&#8217; are still in operation: the first is on board the Crystal Symphony (opened on 14 November 2024), followed in December 2024 by the one on the Crystal Serenity.<\/p>\n\n<blockquote class=\"wp-embedded-content\" data-secret=\"lIzc3HkSA0\"><a href=\"https:\/\/www.monaco-tribune.com\/en\/2023\/10\/monte-carlo-sbm-has-officially-acquired-the-palace-des-neiges-in-courchevel\/\">Monte-Carlo SBM has officially acquired the Palace des Neiges in Courchevel<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Monte-Carlo SBM has officially acquired the Palace des Neiges in Courchevel&#8221; &#8212; Monaco Tribune\" src=\"https:\/\/www.monaco-tribune.com\/en\/2023\/10\/monte-carlo-sbm-has-officially-acquired-the-palace-des-neiges-in-courchevel\/embed\/#?secret=NlbL1OsnIg#?secret=lIzc3HkSA0\" data-secret=\"lIzc3HkSA0\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n\n<p>SBM&#8217;s international ambitions are also taking shape in the Alps with the\u00a0<a href=\"https:\/\/www.monaco-tribune.com\/en\/2023\/10\/monte-carlo-sbm-has-officially-acquired-the-palace-des-neiges-in-courchevel\/\">Monte-Carlo One Courchevel<\/a>\u00a0project.\u00a0<em>&#8220;Thanks to the work of Pascal Camia, our Director of International Development, we obtained a 94.5% co-owners&#8217; vote in favour of the building permit. We also had discussions with those who were less keen so that there would be no legal actions that would impede progress (&#8230;) The permit was officially granted two days ago and we have now started work,&#8221;<\/em>\u00a0St\u00e9phane Valeri announced.<\/p>\n\n<p>The luxury hotel in Courchevel 1850 is due to open in time for Christmas 2027, with rooms starting from \u20ac3,500 a night, two restaurants, a prestigious spa and even an alpine version of the famous Jimmy&#8217;z Monte-Carlo. The aim of the major project, which should be amortised over 16 years, is to position SBM in the Alpine luxury segment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday 19 September, St\u00e9phane Valeri restated his ambitions to turn the Monegasque flagship into a group with an international [&hellip;]<\/p>\n","protected":false},"author":82,"featured_media":315220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[247,243],"tags":[2862],"post_sectags":[],"post_format":[2468],"class_list":["post-315464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","tag-monte-carlo-sbm-en","format-story"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Buoyed by record year and good summer quarter, SBM confirms international appetite<\/title>\n<meta name=\"description\" content=\"On Friday 19 September, St\u00e9phane Valeri restated his ambitions to turn the Monegasque flagship into a group with an international stature. 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