The SBM achieves positive annual results

Monaco’s largest employer Société des Bains de Mer (SBM) has posted positive financial figures for the first time in seven years, with major investment projects like the Hôtel de Paris and One Monte Carlo expected to help continue the upward trend.

Since 2012, SBM’s annual revenue has been in the red. But the latest figures show there is light at the end of the tunnel.

In the 2018-19 financial year, the hotel sector recorded important growth with an increase of 8% on last year, bringing in a total of 253.7 million euros. The rental sector also performed incredibly well, with a 27% increase in revenue at 51.9 million euros.

Overall, for the last financial year which closed at the end of March, SBM achieved a turnover of 526.5 million euros. That equates to an increase of 11%, or 2.6 million euros, compared to a net loss of 14.6 million euros in 2017-18.

Operating profit rose from -27.1 million to -9.6 million year-on-year.

The 2018-2019 financial year was marked by the reopening in January this year of the jewel in the crown of the SBM, the historic Hôtel de Paris. Just a few months later the newest player in the game was inaugurated, the One Monte Carlo real estate complex featuring luxury boutiques. Two-thirds of the apartments in this project are already let, while six out of nine floors dedicated to office space is still on the market.

“This shows that we are in recovery,” president-delegate Jean-Luc Biamonti told the press. “We are not there yet, but we are at the bottom of the pass and now we have to pedal.”

Given the inauguration of SBM’s latest projects, Mr. Biamonti said he was “quite optimistic” that there would be significant improvement in the results of the group in 2019-20.

Meanwhile, Pascal Camia’s takeover in 2015 of the gaming sector is beginning to bear fruit. Following several years of decline, the gaming share has increased by 11%, with a turnover of 222.7 million euros.

“The biggest growth is in table games and the recovery is paying off,” said Biamonti. “The Middle East has provided us with the biggest new players and we are starting to see a regular Asian clientele, especially Chinese, but also more customers from Latin America.”

The latest financial report has been eagerly awaited, particularly by the government, considering 64% of the institution is owned by the state of Monaco. The Macao Group Galaxy Entertainment Group and the French luxury giant LVMH respectively hold 5%.

 

Photo: The newly renovated Hôtel de Paris was unveiled in January 2019, courtesy SBM

 

 

National Support Plan for Aging and Dependency Care

The Monaco Government has presented its National Support Plan for Aging and Dependency Care in the Principality. Among the announcements is the raising of the minimum residency period before public aged care facilities can be accessed.

“Home-based care now concerns 600 seniors in the Principality and the Department of Social Affairs and Health is constantly working to raise the level of quality of service so that home care continues to improve for beneficiaries and their families”, said Didier Gamerdinger, Minister of Social Affairs and Health, during the presentation on Monday 17th June. He also emphasised the important role that the National Council plays in this field.

Recent efforts include upgrading the rates of self-help benefits, the signing of an agreement with the companies providing personal services, and the issuing of a Sovereign Ordinance making it compulsory for these companies to be officially authorised.

At the same time, a procedure for reporting adverse events has been implemented by the Health Action Directorate and the debate continues on solutions for improving the homes of the elderly.

Meanwhile, a think tank was recently organised with a group of professionals to further improve the link between the city and the hospital so as to avoid successive re-hospitalisations that lead to a loss of autonomy.

With regards to institutional dependency, the government highlighted that the average age of people who are received at institutions is 87 years, and that the Principality currently has 342 places in institutions for dependent elderly people.

Mr. Gamerdinger said that the National Support Plan for Aging and Dependency Care will involve the implementation of the most appropriate responses for various situations in the years to come.

He highlighted the ongoing work on the Résidences du Cap Fleuri and the Hector Otto Foundation located in the Jardin Exotique district, which will bring 150 additional places in the short term and take the total to 492 places.

PP Aging 2019 – © Directorate of Communication – Stéphane Danna

He also announced the establishment of a new accommodation facility for dependent elderly people on the outskirts of Boulevard du Larvotto.

The Prince’s Government, in consultation with the National Council, has also decided to raise the conditions for prior residence in Monaco, reserving Monegasque public institutions for people who have shared a significant enough time of their lives in the Principality, increasing this period from five to 30 years.

“These actions are part of the high-level objective that the Principality has set itself,” said Mr. Gamerdinger. “The Prince’s Government implements the indispensable means to preserve the excellence and solidarity dimension of our social model.”

The Summer Carnival of the Rock

This July marks the return of U Sciaratu, the Summer Carnival of the Rock. Featuring joy, confetti and a festive atmosphere, families are encouraged to head to the streets of the old town for some serious family fun.

The event kicks off on Friday 19th July at 6pm and includes animation stands for children, parades of floats, and street entertainment.

After taking us to Mexico last year, the theme of this, the 9th edition, is India.

Details are:

  • Parade of floats: Place du Palais – Cathedral – Oceanographic Museum – Place de la Visitation – Rue des Remparts – back to Place du Palais
  • Musical groups and street entertainment (The Pelooze Family, Brazilian dance, ostrich waders …)
  • Animations: return of the inevitable chives and Oscar, balloon sculptors as well as magic workshops
  • Sale of confetti, masks and costumes, puppet shows and make-up booths – all that is needed to give the kids an amazing night out.

To close the evening, there will be a DJ for dancing at the Place de la Mairie from 10pm.

 

Monacology leaves a lasting impression on youth

Something as simple and festive as a helium balloon is actually very dangerous to sea life and other animals; whale poop is an important part of why we have oxygen to breathe; you can make sponges out of old socks and t-shirts. These are just some of the lessons kids learned last week at Monacology.

Prince Albert spent time with students at the Monacology week

Monacology, an annual event celebrating its 15th anniversary, took place at an eco-village in front of Stars N’ Bars on Quai Antoine 1er. Small wooden chalets looked like log cabins and held educational stations where local businesses and organisations taught local children small ways to make Monaco more sustainable.

Many stations focused on a zero waste lifestyle. Square wooden blocks with nails hammered in served as looms for children to make their own Tawashi: sponges made with old socks or T-shirt sleeves. On the final day of the event, kids were treated to a visit by Prince Albert II, who joyfully accepted a Tawashi gift from an admiring student.

The Oceanographic Museum’s ‘Party Without Balloons’ project presented the consequences of balloon releases on biodiversity, especially on sea ​​turtles and birds. Students were invited to think about alternative options that are equally festive and less harsh on the environment. All workshops at the eco village challenge children to think of themselves as a small part of a larger ecological system.

“Without the whales, we would not be able to breathe, because they are the ocean’s fertilizers,” Berit Legrand, Founder of TAF, The Animal Fund, explained. “The way they eat krill, whale poo feeds plankton, who give oxygen to us. Without that cycle, we wouldn’t be able to breathe.”

To help children understand, Berit Legrand included a picture game showing how whales go to the bottom of the ocean to eat krill, tiny shrimp that are very nutritious. The whales swim to the surface to do their business. She explained that whale excrement is the same red color as the krill, and an important food source for the plankton, who take away the carbon dioxide from the excrement and convert it to oxygen.

Children learned about the importance of changing our habits to control our waste and our way of consuming. With the theme ‘Monaco, my sustainable city’, nearly 1,000 students from the Principality developed their eco-citizenship through learning about sustainable living, the importance of preserving coastal environments, and the power of mobilising schools and the community.

More than 30 groups were present, representing the Monaco Government, the Directorate of National Education of Youth and Sports, and local organisations and businesses, all who set up workshops focused on the sustainability commitments of the Principality. The eco village was 100% green and made of wooden chalets provided by the Town Hall which will be reused for at least a decade. Meanwhile, solar panels produced electricity for the village.

“I’m so proud of the environmental leadership that Monaco has taken in the world and the role that Monacology has played for the last 15 years,” said Monacology co-founder Kate Powers. “We can do more, Monaco can do more, but the key is teaching and inspiring the next generation to do even better.”

Water Safety Day with Princess Charlene

HSH Princess Charlene has celebrated Water Safety Day with local school students and a host of athletes, raising awareness about how to stay safe on the water.

The Princess Charlene of Monaco Foundation, the Aquatic Rescue and Diving Centre of Monaco (CSAPM) and the association Cap ô Pas Cap, organised the special event on 17th June, in partnership with the Monaco Red Cross.

In the presence of HSH Princess Charlene and Gareth Wittstock, General Secretary of the Princess Charlene of Monaco Foundation, 58 school children aged between 11 and 13 were welcomed at the Larvotto Beach in Monaco to discover and learn about aquatic rescue.

A Year 7 class from the Collège François d’Assise – Nicolas Barré, a Year 7 class, a Year 7 AIS class (School Orientation and Integration) and a Year 8 class from the Collège Charles III in the Principality took part in various workshops: coastal rope rescue, cardiopulmonary resuscitation, drowning prevention, nipper boards, rescue tubes and the large water cycle.

Pierre Frolla, four-time world record holder in free-diving, director of the Aquatic Rescue and Diving Center of Monaco and Ambassador of the Princess Charlene of Monaco Foundation, was surrounded by high performance athletes and personalities in order to raise awareness among children about first aid and the risks related to the marine environment: Stéphanie Barneix, Cap Ô pas Cap Challenge, Lifesaving and Paddle Board World Champion; Alexandre Bermond, Swim Run Champion; Henry Davis, actor; the humorist Hassan de Monaco, Julien Lalanne, Lifesaving World Champion; Sandrine de Labarre, ‘Water Family du Flocon à la Vague’; Anthony Mazzer, European Junior Lifesaving Champion; Alice Modolo, World free-diving vice champion; Gwendal Peizerat, French, European, World and Olympic ice dance champion and Kate Williams, Swim Run Champion.

Photo: Princess Charlene of Monaco Foundation

Encouraged by Marc Toesca’s comments, the personalities then took part in a friendly competition called the Ocean Race Sprint (Challenge for the Committed Celebrities). Each team was drawn at random and composed of three athletes who then competed in turns and in relay. The different challenges involved running, swimming and rescue paddle.

During the event, the Maritime Police of Monaco participated in a rescue demonstration using a new jet ski. Meanwhile, Sébastien Uscher launched the challenge ‘Stand up for the planet’, 30,000 paddle strokes for 30,000 pieces of waste collected. His start from Larvotto beach formalised the beginning of his awareness campaign to encourage young and old to pick up waste both on and offshore.

Restube’s and Oneup’s self-inflatable buoys were used during the sea rescue demonstrations.

The messages of the Princess Charlene of Monaco Foundation are more relevant today than ever: to raise public awareness of the dangers of water, to educate children about prevention measures and to teach them how to swim. It was a tragic summer last year in France. From 1st June to 30th September 2018, 1,960 drownings were recorded, 597 of which were fatal, according to Santé Publique France.

The Water Safety Day was organised with the support of the Department of Education, Youth and Sport of Monaco (DENJS), the Monaco Red Cross, Cap ô pas Cap, the Maritime Police of Monaco and ‘Water Family du Flocon à la Vague’.

The day ended with a signing session which gathered children and adults.