Ste des Bains de Mer et du Cercle des Etrangers a Monaco

BAIN

Equity

ISIN MC0000031187 / Valor 596114

Euronext - Euronext Paris (2026-04-22)

EUR 130.50+3.16%

Ste des Bains de Mer et du Cercle des Etrangers a Monaco
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About company

Société des Bains de Mer et du Cercle des Etrangers à Monaco, commonly known as SBM, is a prominent publicly traded company based in the Principality of Monaco. Established in 1863, SBM has a long-standing history in the region, initially gaining prominence through its exclusive rights to operate gambling activities in Monaco. Today, the company is a major player in the hospitality and entertainment sectors, owning and managing a diverse portfolio of properties. These include the iconic Monte Carlo Casino, the Opéra de Monte-Carlo, and the luxurious Hôtel de Paris. SBM's operations extend across various domains, including accommodation, dining, entertainment, and gambling services. The company boasts a wide array of establishments such as casinos, hotels, restaurants, bars, nightclubs, spas, beach clubs, and golf clubs, with the majority of its 58 properties located within Monaco. Through its extensive offerings, SBM plays a significant role in shaping the luxury and leisure landscape of the principality.

Summarized from source with an LLMView SourceSector: Consumer Services

Key consolidated figures

Revenue €667.0m (+26%); Operating income before D&A €145.3m (vs €111.6m); Operating income €72.2m (vs €35.4m); Consolidated net income attributable to owners €896.2m. Cash generated from operations €131.6m. Capex (PP&E & intangibles) €95.6m. Equity €1,509.9m. Net cash position: €276.5m (net debt/(cash) -€276.5m).

Extraordinary item (BEG transaction)

The Group recorded an exceptional consolidated gain of €813.5m from the sale/contribution of its 47.30% interest in Betclic Everest Group to FL Entertainment (transaction closed 30 June 2022). SBM International received cash and FL shares (retaining 4.95% voting rights and 10.39% economic rights in FL). An additional €15.6m relates to SBM’s share of BEG profit for the pre-contribution period.

Revenue by business segment

Gaming: €215.4m (+7%). Hotels: €325.1m (+52%). Rental (commercial + residential): €124.8m (+6%). Other activities: €12.7m. Improvements were driven by the return of international visitors, full reopening of seasonal venues and higher average accommodation prices.

Profitability by segment

Gaming operating income €10.8m (improved on prior year). Hotels returned to profit: operating income €20.2m (versus a loss prior year) thanks to higher occupancy (59%) and better pricing/mix. Rental operating income €91.3m, reflecting steady rental yields and lease indexation.

Cash, investments and balance sheet

Strong operating cash generation (€131.6m) and proceeds from the BEG transaction materially strengthened the balance sheet. Capex rose to €95.6m (major renovations including Café de Paris and IT projects). Net cash position at year‑end approximately €276.5m and shareholders’ equity €1,509.9m.

Operational highlights

Hotels: occupancy averaged 59% and average room rates rose materially (management cited ~20% increase). Catering volumes and F&B revenues rebounded strongly. Gaming benefitted from higher table-game takings; slot revenue roughly stable. Headcount averaged 4,166 employees for the year.

Summarized from source with an LLMView Source

Key figures

29.9%1Y

31.0%3Y

101%5Y

Performance

24.1%1Y

24.0%3Y

25.5%5Y

Volatility