Alteo, a leading business group in Mauritius, has announced a strong financial performance for the 2025-26 financial year. The company reported an 11% increase in overall revenue to Rs 4,247 million, up from Rs 3,819 million in the previous year. This growth was driven by the company's real estate division, which now accounts for approximately 55% of the group's EBITDA. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 19% to reach Rs 1,396 million.
The real estate division's growth was underpinned by initial residential deliveries and the ongoing construction of units at Anahita Beau Champ. The company also saw favourable movements in the valuation of its real estate and biological assets. The real estate segment is expected to continue driving revenue growth, tied to construction progress on villas and apartments sold under the VEFA scheme at Anahita Beau Champ. Additionally, the third phase of Mont Piton, a residential subdivision, is fully reserved and slated for completion during the second half of the 2026-27 financial year.
Alteo's Agro-Business division, representing 38% of EBITDA, faced headwinds from declining global sugar prices. However, CEO Fabien de Marassé Enouf noted that operational improvements successfully cushioned the impact. The company's operational performance indicators showed a clear improvement, with increased yields, harvested volumes, and specialty sugar production. The company is continuing to invest in the mechanization and diversification of its agricultural activities.
The energy sector, accounting for 7% of EBITDA, recorded a 20% increase in EBITDA accompanied by an improved production mix, despite a broadly stable turnover. Moving forward, the group will continue to prioritize efficiency and renewable energy production. The company's cash flow position also improved, with operations generating Rs 539 million in cash, compared to Rs 361 million in 2025.
Investment activities produced a positive net cash flow of Rs 108 million, as land operation inflows surpassed capital expenditure and cane replanting costs. However, financing cash outflows totaled Rs 916 million, covering dividend payouts and loan repayments, leaving a cash balance of Rs 522 million as of 30 June 2026, down from Rs 791 million the previous year.
CEO Fabien de Marassé Enouf emphasized the synergy across the group, stating that the results bear witness to the complementarity of the three business segments and the relevance of the investments undertaken by the group. He also thanked and congratulated all employees for their work accomplished this year.
The company is pursuing its sustainable growth strategy in the East of Mauritius, with a focus on making the region an everlasting place to grow. The results are encouraging, with sugar prices appearing to have bottomed out, supported by rising prices in Europe driven by drought-induced production drops, and current cane yields showing promising signs.
Key points
- Alteo's revenue surged by 11% to Rs 4,247 million in 2025-26, driven by real estate expansion.
- The company's real estate division now accounts for approximately 55% of the group's EBITDA.
- Alteo's Agro-Business division faced headwinds from declining global sugar prices, but operational improvements cushioned the impact.
