MOKA, October 1 /APO Group: In its first full financial year, ended 30 June, 2026, and the first following a merger of ENL and Rogers, the ER Group has recorded revenue of Rs.46.3 billion (USD 969 million) and profit after tax at Rs. 5.4 billion (USD 113 million), excluding non-recurring items. The Group has exceeded the operating profit target announced during the year and reduced its gearing.
The ER Group, operating as a single, unified structure, has consolidated New Mauritius Hotels Ltd (Beachcomber) as a subsidiary, been admitted to the Sustainability Index of the Stock Exchange of Mauritius (SEMSI), and has adopted a ten-year strategy, implemented through a three-year plan.
While EBITDA excluding non-recurring items rose by 10 percent to Rs. 12.6 billion (USD 264 million), above the expected target of Rs 12 billion: for every Rs. 100 of revenue, the Group now generates Rs. 27 of operating profit, compared with Rs. 24 a year earlier.
The ER Group has also forayed into the region, establishing its presence in Nairobi, Kenya, and set up a Rs. 1 billion (USD 21 million) co-investment vehicle to support its companies across Africa. The Group’s energy solutions company, Ecoasis, has established operations in Tanzania and Beachcomber, where it has signed an agreement to acquire Zuri Zanzibar, a five-star resort, with completion subject to the required regulatory approvals.
Among its key achievements on the local shores, ER Agri has extended its tea plantations to 30 hectares, and Axess now distributes XPENG electric vehicles. Moka City has opened the Moka Rangers Sports Club, while Ascencia, in partnership with Alteo, has started the construction of the Mall de Flacq, which will host, among other brands, the island’s third Decathlon store from July 2027.
The Group’s joint venture partner, FMBcapital Holdings Plc, has also secured an in-principle approval from the Bank of Mauritius (BoM)to establish a new bank where, subject to the grant of the banking licence, the ER Group will hold a 35 percent stake.
In June, the ER Group published its Sustainable Finance Framework, which received a Second Party Opinion from Moody’s and Oficea carried out the first issuance under the framework in September, with Rs. 3.4 billion (USD 71 million) sustainability-linked bond.
The Group has also increased its installed solar capacity to 11.5 MWp, from 8.4 MWp a year earlier. The ER Foundation, now structured around social inclusion and climate and environmental resilience, runs its projects through seven regional committees, in line with its new strategic plan to 2035.
Group CEO of ER Group, Gilbert Espitalier-Noël, commented: “We brought two groups together with one conviction: this was never about becoming bigger, it was about growing better. This first year provides the first evidence of that. Our teams have delivered on the commitments we made, and we approach our strategic plan with the capacity to invest in Mauritius while pursuing growth across the region.”
