ER Group, a leading conglomerate in Mauritius, has reported a strong financial performance for its first full year since restructuring. The group's revenue stood at Rs 46.35 billion, with a net profit after tax (PAT) of Rs 7.37 billion as of June 30, 2026. This includes non-recurring items of Rs 1.94 billion, primarily a book gain of Rs 2.02 billion from the acquisition of New Mauritius Hotels (NMH).
Excluding the non-recurring items, the normalized profit stood at Rs 5.42 billion, with earnings per share reaching Rs 6.47. The group's EBITDA, or earnings before interest, taxes, depreciation, and amortization, was Rs 12.62 billion. The Hospitality & Travel and Real Estate segments were the main contributors to this performance. The group also generated Rs 11.26 billion in cash flow from its operations.
The Hospitality & Travel segment was the primary driver of the group's results, with a PAT of Rs 5.43 billion, which was reduced to Rs 3.53 billion after excluding the exceptional gain related to NMH. The integration of NMH and ER Hospitality's hotel activities strengthened this performance. The group noted that investments made in its hotel portfolio over several years have started to generate recurring and growing returns.
The Real Estate segment reported a PAT of Rs 1.48 billion. Ascencia benefited from increased foot traffic and commercial density, while Oficea saw revenue growth due to better occupancy at Telfair. Demand from individuals remained firm in property development, although a slowdown was observed in the B2B market. The group's other activities showed mixed performances.
The Finance segment recorded a PAT of Rs 733 million, driven by growth in credit and leasing portfolios, as well as a better contribution from Swan. The Commerce & Manufacturing segment posted Rs 443 million, despite a 37% contraction in the new vehicle market following a hike in customs duties. Logistics reported Rs 216 million, while Technology & Energy contributed Rs 54 million.
However, the Agribusiness segment experienced a significant decline, with a PAT of only Rs 15 million, due to a drop in sugar prices and lower contributions from certain activities. Regionally, ER Group is continuing its expansion, particularly in Kenya and Zanzibar. The group has also established a co-investment vehicle of Rs 1 billion to support its companies in their investments in East Africa.
Looking ahead to the 2027 financial year, ER Group aims to capitalize on its investments in hospitality and real estate while accelerating its development in high-growth sectors, including technology and energy. The group also plans to continue raising funds related to its sustainable development objectives.
Key points
- ER Group's revenue for 2026 was Rs 46.35 billion, with a net profit after tax of Rs 7.37 billion.
- The Hospitality & Travel segment was the main driver of the group's results, with a PAT of Rs 5.43 billion.
- ER Group plans to continue its expansion in high-growth sectors, including technology and energy, in the 2027 financial year.
