Alteo, a leading Mauritian conglomerate, has announced a significant increase in its financial performance for the year 2025-2026. The company's revenue grew by 11% to Rs 4,247 billion, up from Rs 3,819 billion in the previous year. This growth was primarily driven by the company's real estate sector, which saw a surge in deliveries and construction progress at its Anahita Beau Champ project.
The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a substantial increase of 19% to Rs 1,396 billion, while its net profit after taxes rose by 28% to Rs 910 million. The growth in profitability was largely attributed to the strong performance of the real estate sector, as well as favorable movements in the valuation of the company's real estate and biological assets.
Alteo's agro-business sector also showed significant improvement in operational performance, which helped mitigate the impact of lower sugar prices on the global market. The company's sugar production and yields increased, allowing it to offset the decline in sugar prices. According to Fabien de Marassé Enouf, CEO of Alteo, the company's agro-business performance was affected by lower sugar prices, but its operational indicators showed a marked improvement.
The company's cash flow from operations increased to Rs 539 million, up from Rs 361 million in the previous year. Its investment activities generated a net positive cash flow of Rs 108 million, largely due to proceeds from land sales, which offset investment and replanting expenses. However, the company's financing activities resulted in an outflow of Rs 916 million, including dividend payments and loan repayments.
As of June 30, 2026, Alteo's cash balance stood at Rs 522 million, down from Rs 791 million in the previous year. The company's real estate sector remains its primary growth driver, accounting for approximately 55% of its EBITDA. The agro-business sector contributed 38% to EBITDA, while the energy sector accounted for 7%, which saw a 20% increase in EBITDA due to improved production efficiency.
Looking ahead, Alteo expects a positive outlook for the coming months. The company anticipates that sugar prices have bottomed out and are likely to rise in Europe due to drought-related production declines. Additionally, the company's Anahita Beau Champ project is expected to continue driving growth in the real estate sector, with the third phase of the Mont Piton residential project nearing completion.
Alteo's CEO, Fabien de Marassé Enouf, expressed satisfaction with the company's performance, citing the complementary nature of its three business sectors and the effectiveness of its investments. He emphasized the company's commitment to sustainable growth in Eastern Mauritius, with a focus on prioritizing efficiency and renewable energy production.
Key points
- Alteo's revenue grew by 11% to Rs 4,247 billion for 2025-2026.
- The company's net profit after taxes rose by 28% to Rs 910 million.
- Alteo's real estate sector accounted for approximately 55% of its EBITDA for 2025-2026.
