Gauci switches CEO role to become SD Holdings 'consultant'

The long-time chief executive officer of SD Holdings, the guarantor for hotelier Silvio Debono’s SD Finance plc, has resigned his post.

The resignation became effective yesterday after a company announcement issued on 3 August marked the future appointment of Silvio Debono’s son Robert as the new CEO of SD Holdings.

Gauci will continue to serve as a member of the SD Holdings’ board of directors of the together with other directorships within the group, and will take up the post of consultant to the guarantor.

Robert Debono, who takes up the post on 1 October, is a graduate in Bachelor of Commerce and Honours in Management and has been involved in the operations of SD Holdings since August 2014. Debono has been a member of the board of directors of the SD Holdings since 7 December 2015.

During the end of its financial year in March 2020, the DB Group – the main asset group financed by SD Holdings – invested in a new upmarket restaurant, AKI, situated in Valletta; the continued roll-out of Starbucks outlets in Malta; and the 504-bed extension to the Saint Vincent de Paul long-term care residence.

In total, the group invested over €43 million during the 2019-20 financial year, with revenues of €59.3 million, an EBITDA of €27.6 million, and balance sheet totals exceeding €325 million, an increase of €9 million over the previous year. This was achieved despite a downward valuation on the group’s real estate component (-€7.2 million net of deferred tax on revaluation) which was compensated by an increase in revenue reserves now standing at €46 million  (+€12 million) and an improved working capital total by €11 million. Total equity or shareholder’s funds now stand at €138 million.