The IBL Group, a leading conglomerate in Mauritius, has announced its financial results for the year ending June 2026. The group reported a revenue of Rs 124.3 billion, representing a 13.2% increase from the previous year. This growth was driven by the strong performance of its four clusters, with a significant increase in the benefit from underlying activities after taxes, which rose by 65.4% to Rs 4.3 billion. The results were announced by Arnaud Lagesse, Chief Executive Officer of the group, Cedrik Le Juge, Group CFO, and Patrice Robert, Deputy Group CEO.
The group's EBITDA reached Rs 14.5 billion, up 13.9% from the previous year, while the operating profit increased by 13.7% to Rs 8.3 billion. The total benefit from activities pursued stood at Rs 3.5 billion, up 15% from the previous year. However, the total benefit declined to Rs 4.1 billion, compared to Rs 5 billion in 2025, mainly due to a decrease in the contribution from discontinued activities and non-monetary losses related to impairments and revaluation of certain obligations.
Over the past decade, IBL has undergone significant transformation since the merger of Ireland Blyth and GML Ltd in 2016. The group's revenue has increased fourfold, from Rs 31 billion to Rs 124.3 billion, while its EBITDA has grown from Rs 3.9 billion to Rs 14.5 billion, representing a multiplication by 3.7. The contribution from activities outside Mauritius has also increased substantially, from 12% to 51%. The group's total assets have tripled, reaching Rs 151.1 billion compared to Rs 51.1 billion in 2016.
The growth of IBL is attributed to its "Beyond Borders" strategy, which has accelerated the group's expansion into several regional markets. Since 2021, IBL has invested over USD 380 million in new strategic activities outside Mauritius. The group now considers this expansion phase as a foundation for a new development stage, focusing on integrating regional platforms, enhancing performance, and creating sustainable value. Arnaud Lagesse emphasized that the group's priority is to bring these activities closer together, strengthen their performance, and create value sustainably.
The integration of regional platforms is a key strategic focus for IBL. Patrice Robert highlighted the importance of strengthening exchanges between group companies operating in different countries to mutualize competencies and experiences. This approach is reflected in the performance of various activities, including the retail sector, where Naivas continues to grow in Kenya, and Winners pursues its expansion and renovation program in Mauritius. The group's consumer brands and distribution segment also reported growth, driven by the performance of Phoenix Beverages and Seybrew.
IBL's industrials segment, including CNOI, Manser Saxon, and Alteo, reported a positive performance, with Alteo's profit after taxes increasing by 28% to Rs 910 million. The seafood cluster, including Marine Biotechnology Products, also contributed to the group's growth. The services segment, encompassing hospitality, real estate, and financial services, reported improved performance, driven by the growth of Lux Island Resorts and The Lux Collective.
From a financial perspective, IBL has improved its debt profile, with the net debt-to-EBITDA ratio decreasing from 3.8x to 2.9x. The group remains committed to disciplined investment choices while continuing to improve its performance. For the 2027 financial year, IBL will focus on integrating regional platforms, organic growth, and improving capital yield. The group aims to optimize its existing assets and strengthen synergies between its activities, marking a shift in priority after a decade of expansion and portfolio construction.
Key points
- IBL Group's revenue increases by 13.2% to Rs 124.3 billion for the year ending June 2026.
- The group's EBITDA reaches Rs 14.5 billion, up 13.9% from the previous year.
- IBL's growth is driven by its "Beyond Borders" strategy, with a focus on integrating regional platforms and creating sustainable value.
