The Valloire-Galibier ski resort and its Société d’Économie Mixte (SEM) have taken another step forward in their development by obtaining an E1- financial rating from the Banque de France. This rating, awarded following rigorous management and an ambitious tourism diversification strategy, reflects the financial strength of SEM Valloire. By falling just short of the ‘Excellent’ rating, this assessment testifies to the company’s ability to honour its financial commitments over the next three years, in accordance with the criteria established by the Banque de France, the European Central Bank (ECB) and the European Banking Authority.

A development marked by diversification and modernisation

SEM Valloire, under the management of Jean-Marie Martin since 2014, has distinguished itself by a strategy built around three major axes: improving and preserving the ski area in line with weather forecasts, diversifying the tourism offering to make the four-season business model more profitable, and finally working with Valloire Tourisme to strengthen the resort’s marketing appeal.

After a particularly satisfactory winter season in 2023-2024, SEM Valloire is planning an ambitious €130 million investment plan between now and 2043. Among the flagship projects, the modernisation of the ski lift network, the extension of the artificial snow system and the creation of a large zip line are designed to boost the resort’s appeal to tourists while optimising its infrastructure.

Valloire ski resort

A significant increase in our rating

SEM Valloire’s rating has been steadily improving since 2013. Initially rated F4+, it gradually evolved to reach F3 in 2022, a rating described as “average”. However, thanks to its sound cash management, the company achieved an E1- rating in July 2023, underlining its excellent financial health. Jean-Marie Martin is delighted with this performance, which reflects the robustness of SEM Valloire’s financial structure and its ability to adapt to economic and environmental challenges.

“Between 2013 and 2021, our financial rating, as assessed by the Banque de France, was F4+. Between 2021 and 2022, it reached F4 ; then F3 in 2022 (which is considered to be an average rating) and now stands at E1- (the last rating before “Excellent”) since1 July 2023, due to our very good cash flow”, says Jean-Marie Martin, CEO of SEM VALLOIRE, with satisfaction.

A forward-looking business model

SEM Valloire is a semi-public company governed by private law, in which the commune of Valloire holds between 51% and 85% of the capital.

In 2023, it will have sales of €16 million, supported by 180 employees, including 43 permanent staff and 117 seasonal workers. The resort also has 450 snow guns spread across its entire ski area, a major asset.