Ebene, Tuesday, September 30: CIEL has posted revenue of MUR 38.0 bn and declared profit after tax of MUR 3.8 bn, underpinned by continued investments to sustain long term growth. Among key highlights, the Group revenue has shot up by 8 percent to the tune of MUR 38.0 bn, attributed to sustained growth in textile operations across India, health care activities in Uganda and Mauritius, banking in Madagascar, and Sunlife hotels in Mauritius.
The EBITDA amounted to MUR 7.2 bn, underscoring the Group’s steady performance while at the same time absorbing temporary closure impacts from the Riveo portfolio, margin pressure in banking, and the absence of last year’s profit on the sale of land in the Property cluster, with an EBITDA margin of 19 percent. While profit after tax stood at MUR 3.8 bn with all clusters contributing positively, notwithstanding a more demanding local tax and operating cost environment.
On the other hand, free cash flow accounts for MUR 2.2 bn for the year, where the decrease reflects the lower contribution from the Hotels & Resorts cluster due to the closure of hotels for renovation work in the Riveo portfolio and higher working capital requirements in the Textile cluster.
Group Chief Executive of CIEL Limited, Guillaume Dalais, commented on the results: “This year, we focused on strategic investments, laying the foundations for sustainable value creation over the medium term. In an environment marked by macroeconomic and geopolitical volatility, our teams have demonstrated resilience through disciplined capital allocation, operational excellence, and a clear commitment to sustainability. We remain focused on our strategy execution and creating sustainable value.”
Under the Hotels & Resorts segment, the cluster has delivered a resilient performance in what is called a transition year marked by the successful listing of Sun Limited (Sun) and Riveo Limited (Riveo) as separate entities on the Stock Exchange of Mauritius (SEM), alongside major renovation works across Riveo’s portfolio. The cluster revenue hit MUR 8.9 bn, accounting for 3 percent rise as compared to the prior year while revenue for the year also shot up by 6 percent to reach MUR 16.7 bn, attributed to a strong performance of its shirt operations in India. The group noted that while the U.S. tariff and AGOA renewal timelines are still unfolding and likely to create volatility in the short term, the cluster’s diversified presence and India’s growing role as a sourcing hub for global brands reinforce CIEL Textile’s medium- to long-term strategy.
While the Finance cluster closed the year with revenue at MUR 6.1 bn, up by 8 percent year-on-year, driven by moderate loan book growth in the banking operations in Madagascar, despite a challenging local macroeconomic environment. The EBITDA stood at MUR 1.9 bn, reflecting margin compression and higher funding costs, with profit after tax at MUR 1.4 bn. Moreover, Bank One’s contribution to the cluster’s profitability accounts for MUR 320M.
Under the properties fold, the cluster saw its revenue rise by 44 percent to reach MUR 336M due to higher rental income at Evolis, its mixed-use property fund, in line with the strategy to grow recurring portfolio income. The EBITDA reached MUR 264M, on the back of a revaluation gain of MUR 194M, arising from investment properties at Ferney and Evolis, boosted by a one-off strategic land sale. The cluster clocked in a profit after tax at MUR 154M.
On the other hand, the agro cluster posted a profit of MUR 182M for the financial year, down from FY 24 and largely due to a drop in sugar prices across both Alteo and Miwa Sugar.
