SD Holdings Limited, the holdings company of db Group, earned €70.8 million in revenue for the financial year ending 31st March 2023
The group’s total assets now amount to €376 million, up from the previous year’s €350 million
The company registered an after tax profit of €12.4 million, €1.8 million more than last year. The increase in profitability and general performance of the Group was welcomed by the board of directors, particularly in view of the high inflation which impacted the payroll and supply chain.
“In the last few years the pandemic and the war in Europe posed unprecedented challenges to business, particularly in the sectors in which we have a footprint. Through careful management of costs and an enhanced focus on driving up revenues with strategic investments, we managed to perform strongly and ended the financial year in a considerably stronger position,” said group CEO Robert Debono.
Part of the group’s success to increase revenues and control costs came from the much-improved performance in the accommodation and leisure sectors. As we emerged from the pandemic, both recovered at a faster than originally anticipated.
The group’s hotel portfolio occupancy increased to 85%, which is even higher than the 81% registered in year ending 31st March 2020, that is the last pre-pandemic year.
Remarkably, in the food and beverage sector the db Group almost doubled its figures, reaching a turnover of €25.4 million compared to €14.1 million in the previous year. This was mainly due to the exponential performance of Starbucks, as well as the opening of new restaurants – LOA in St Paul’s Bay, Tora and Manta in Sliema, and Verani at Malta International Airport.
This year’s annual report can be downloaded at annualreport2023.dbgroupmalta.co
Meanwhile, the db Group is today also unveiling its new branding, which incorporates db’s signature of excellence and a set of new colours and fonts to reflect an outward-looking Maltese identity
With this revamped branding the db Group is now looking to expand internationally. A central London office has been set up to manage these strategic global investments. A new restaurant at Cavendish Square will be the Group first foray beyond Maltese shores.
Finally, the group is now engaged in the preparatory stages to execute its signature project on the former ITS site in St George’s Bay.