Go Beyond is something we strive for at CIEL, it means to exceed, to deliver more than
is expected of you.
To us, ‘Go Beyond’ is part of our DNA, it indicates even more. It suggests we must look to the future, to make sure
everything we do today benefits the generations of tomorrow. It requires careful and continual consideration across
a range of key areas to take care of business as well as taking extra special care of the future. This report endeavours
to show you, our stakeholder, how we do this.
Go Beyond is something we strive for at CIEL, it means to exceed, to deliver more than
is expected of you.
To us, ‘Go Beyond’ is part of our DNA, it indicates even more. It suggests we must look to the future, to make sure
everything we do today benefits the generations of tomorrow. It requires careful and continual consideration across
a range of key areas to take care of business as well as taking extra special care of the future. This report endeavours
to show you, our stakeholder, how we do this.
A Letter from
Our Chairman
P. Arnaud Dalais
Dear Shareholder,
As we celebrate our 110th anniversary, I am delighted to say this year’s results certainly show our strength, resilience and capacity to reinvent ourselves. The financial year 2022 has seen strong growth for CIEL in terms of turnover and profit.
The last two years of pandemic-related issues coupled with the global economic challenges brought about by the Russia/Ukraine conflict have been very challenging to say the least. Despite these extreme conditions, we have managed to get back on our feet, proved our strength and are fully back in operation.
The Group faced these macroeconomic headwinds with a solid focus on delivering at every step of our operations. This would not have been possible without the relentless efforts of our teams working hard and living up to our Group’s values. Thanks to the excellent teams in place, we have been able to transform challenges into opportunities and they should all be warmly congratulated.
AN INTERVIEW
WITH OUR GROUP CHIEF EXECUTIVE
Jean-Pierre Dalais
“We have the fighting spirit and are on the right path to a prosperous future.”
What do you feel have been the highlights of the past year across the various
CIEL clusters?
This year has had a plethora of events that have been very important for the Group. But of course, the key standout must be the reopening of Mauritius to tourism, and the strong public private collaboration that made it happen.
We have also consolidated our way out of the pandemic and have a solid position in each of our clusters. We are well positioned, geographically and through the sectors in which we operate. Our presence in both Africa and India, is a key strength, our continued expansion in these parts of the world is putting us in great shape for the future.
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MUR 28.5bn
Group Consolidated Revenue
MUR 17.9 bn - 30 June 2021 -
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MUR5.1 bn
EBITDA
MUR 2.4 bn - 30 June 2021 -
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MUR 2.2bn
Group Profit after Tax
MUR 446M - 30 June 2021 -
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MUR1.3bn
Profit Attributable to Owners of the Parent
MUR 617M - 30 June 2021 -
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MUR12.49
Company NAV per Share
MUR 9.28 - 30 June 2021 -
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MUR 98.2bn
Total Assets
MUR 84.1 bn - 30 June 2021 -
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MUR 17.8%
EBITDA Margin
2021: 13.5% -
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MUR 0.77
Earnings per Share
2021: MUR 0.37 -
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MUR 9.7%
ROCE
2021: 5.6%
HOW WE DRIVE PERFORMANCE
Insights from our
Group Finance Director
The financial year ended 30 June 2022 resulted in a remarkable financial performance across all our sectors of activities. The much-awaited rebound of our group activities post the pandemic led to a record year, both in terms of profit after tax and profit attributable reaching MUR 2.2 bn and MUR 1.3 bn, respectively. Earnings per share reached MUR 0.77 which implies a current price to earnings ratio of 8.7 at 30 June 2022.
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As pioneers in industrials (value) to services (growth), we make long-term investments in companies that can benefit from our capital allocation and expertise. We do this through controlling stakes or through partnerships and joint ventures
Resources going into business model (inputs)
- Capital allocation
- Expertise
- Diverse talent
- Innovation
- ESG strategies
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CIEL provides strategic direction to management teams on key issues, holds them accountable to their business models and ensures good governance in operations, whilst allowing space for entrepreneurial attitude. Entrepreneurship, incentivisation, decentralised management and communication are the keys to our success
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We build and test new business models in Mauritius and Madagascar and perfect core capabilities of companies to become #1 in each of our sectors (strategic ambition). We turn ordinary companies into extraordinary performers, delivering strong and consistent shareholder returns in the process -
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Once we have developed core competencies and skills that are replicable, we take the model and expand into developing industries and growth countries. We then follow our strategic ambition by focusing on the business model and customer experience -
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We then execute commercially through a market-fit approach to ensure the sustainable success of CIEL’s portfolio by driving operational excellence, shared learnings, building scale and increasing profits that benefit all our stakeholders
VALUE FOR STAKEHOLDERS (OUTCOMES)
- Customer satisfaction
- Sustainable returns for
shareholders - Growth in services clusters
- Value creation in industrials
and property - Approx. 38,000 employment
contracts /employee engagement - Approx MUR 348M paid in taxes
OUR GROUP STRATEGY
Informs What We Do
Key Capitals
Financial Capital
Manufactured Capital
Social & Relationship Capital
Intellectual Capital
Human Capital
Natural Capital
Strategic Pillars
Enhance Performance with Focus on EBITDA Generation
Asset Management Optimisation
Consolidate our Presence in Selective Regional Markets
Nurture Talent Development
Embrace Sustainability for Long Term Value Creation
OUR BUSINESS MODEL
Describes How We Do It
