db Group reports record year of growth as it gears up for international expansion

db Group, a leading local player in hospitality, catering, and healthcare, has reported its highest-ever turnover after a year of exceptional growth and progress. Building on its established strengths, the Group has successfully diversified operations and is now embarking on an international expansion programme.

The Group reported a record-breaking turnover of €88.7 million for the financial year 2024, reflecting a 25 per cent increase. It also registered an impressive 21 per cent rise in EBITDA to €36.8 million, with total assets amounting to €474 million.

In its annual report, titled Inside, Looking Out, the Group detailed how it consolidated its operations and offerings locally, while also setting its sights on strategically expanding its presence beyond Malta’s shores.

Silvio Debono, Chairman and Managing Director of db Group, emphasised the dual focus of the company: “Today we are simultaneously strengthening what we have been doing locally while we explore new avenues towards a future abroad. Our business strategy has always been and still is captured by one word on both these fronts: excellence. Excellence in everything we do.”

On the international front, one of the most exciting developments is the upcoming launch of the acclaimed AKI restaurant at London’s prestigious address – One Cavendish Square. It is set to open in 2025. This high-profile venture is db Group’s first restaurant outside of Malta, following its local success opening 11 successful restaurants around the island, including two which have been included in the Michelin guide for Malta: AKI and LOA. db Group’s London-based global investment arm, SDH Capital, continues to identify new opportunities to expand its hospitality operations around the world.

Locally, db Group has built on its strong foundations with continued growth and diversification in its hospitality offerings. Works on the Group’s mixed-use development at St. George’s Bay, which will feature a five-star Hard Rock Hotel, St George’s Mall and the luxury ORA residences, are progressing well. Meanwhile, the Group has expanded its Starbucks franchise across Malta, ensuring convenient access to both locals and tourists.

As part of its efforts to elevate Malta’s hospitality scene, db Group has widened its partnerships portfolio with more world-renowned brands. GROM, the Italian gelateria, opened in Malta earlier this year, while EL&N London, one of the world’s most iconic cafe brands announced it will be opening its doors soon, but under the db Group umbrella. Throughout the year the Group has also struck in a number of collaborations, such as the regular events featuring the world’s 50 Best Bars, set at a different location every month, which has elevated Malta’s mixology scene.

Robert Debono, CEO of db Group, highlighted the impact of these partnerships: “Where global companies with high standards go, business, as well as the receiving country, thrive and flourish. These brands send a clear message that those running them not only believe in our country’s present, but, more crucially, its future.”

FY24 has been a transformative year for the db Group, characterised by its record-breaking financial performance, strategic international growth and continued innovation. The Group has also rebranded itself with a fresh and modern corporate identity symbolising its vision of innovation and adaptability. This rebranding reflects the Group’s readiness to embrace future challenges and opportunities while maintaining the family values that have driven its success for over four decades.

Looking ahead, db Group remains focused on consolidating its local market footprints, expanding internationally, and continuing to diversify into new sectors, all underpinned by its unwavering commitment to excellence.