CIEL makes key investments
The diversified CIEL group posted a solid performance with a turnover of 8.8 billion rupees (approximately 176 million euros) and continues to invest strategically to strengthen its areas of activity. “In an uncertain global economic context, rigorous and disciplined management of our investments will be essential to generate strong results and create added value for our stakeholders. This approach will allow us to support our long-term growth while strengthening our ability to seize opportunities in a constantly evolving environment,” comments Jérôme de Chasteauneuf, financial director of the CIEL group.
The Health division continues to grow, posting a turnover of 1.3 billion rupees, up 19%. The increase in CIEL’s stake in C-Care International Limited goes from 53.03% to 63.47%. Key projects in Mauritius include the launch of the unit
oncology in Darné, the expansion of capacities at Wellkin, and the opening of the new clinic in Grand Baie. In Uganda, the continued increase in the number of admissions and outpatient consultations led to a 24% growth in revenue, contributing positively to the Health division.
In hotels, Sunlife recorded a good performance despite the low season period, the temporary closure of the Shangri-La Le Touessrok for renovation and the adjustment of salary costs linked to the new provisions of the Hospitality Remuneration Order. The outlook for the second quarter is positive, with the reopening of Shangri-La Le Touessrok, favorable booking dynamics and the development of La Pirogue residences underway.
The Finance division maintains its operational growth, with a turnover of 1.5
billion rupees for the first quarter, an increase of 10%, driven by a
improvement in BNI Madagascar’s net banking income and by the contribution of Bank One, which
generates a profit of 115 million rupees.
The Textile division achieves a turnover of 4.2 billion rupees. The outlook remains favorable, supported by growing demand from the customer base, particularly for operations in India.
The turnover of the real estate division increased by 18% to reach 71 million rupees,
supported by an increase in income linked to a better occupancy rate at the level of
Evolis real estate portfolio. The current quarter was marked by the launch of phase 1 of infrastructure works for the ‘Ferney Farm Living’ project as well as a better performance of ecotourism activities in Ferney.
Finally in the Agro division, Alteo’s results were negatively impacted by a drop in sugar prices on the export market despite good performance in the real estate segment during
the period. MIWA’s operations in Tanzania and Kenya were particularly impacted by a decline in sales volumes and sugar prices. However, the prospects are bright
positive, with an expected improvement in market conditions and a contribution
strengthened by MIWA over the coming quarters.
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