CIEL Textile

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COUNTRIES

USD 350M

TURNOVER

43.5M

GARMENTS / YEAR

19

PRODUCTION UNITS

23,000

EMPLOYEES

CLUSTER REVENUE

MUR 15,454M

2021: MUR 10,444M

EBITDA

MUR 1,720M

2021: MUR 1,185M

PROFIT AFTER TAX

MUR 744M

2021: MUR 627M

MARKET DYNAMICS
AND OUTLOOK

Eric Dorchies

Chief Executive Officer of CIEL Textile, discusses performance and operating context.

PERFORMANCE & STRATEGY

Progress Report for FY22
Pursue strategic vision around: - Sustainability - Digitalisation - Talent Development Attract new business thanks to one stop shop solution Capitalise on geographic positioning and develop the region as a textile hub with Madagascar and Mauritius working in closer alignment for retailers looking to source products beyond China Manage transition toward the strategic partnership with SOCOTA to develop the largest woven fabric mill in the Indian ocean region, opening up significant growth opportunities.	Capitalise on new brand identity Foster better integration of MOE 361o (Masters of Excellence) Leadership Academy within HR processes Launch CIEL Textile Graduate Program in Madagascar Continue the consolidation of operations and teams to become leaner and fitter Implement a solid succession plan process across the group

Progress Report for FY22

Pursue strategic vision around:
- Sustainability
- Digitalisation
- Talent Development
Attract new business thanks to one stop shop solution
Capitalise on geographic positioning and develop the region as a textile hub with Madagascar and Mauritius working in closer alignment for retailers looking to source products beyond China
Manage transition toward the strategic partnership with SOCOTA to develop the largest woven fabric mill in the Indian ocean region, opening up significant growth opportunities.

Capitalise on new brand identity
Foster better integration of MOE 361o (Masters of Excellence)
Leadership Academy within HR processes
Launch CIEL Textile Graduate Program in Madagascar
Continue the consolidation of operations and teams to become leaner and fitter
Implement a solid succession plan process across the group

Priorities for FY23
Invest and grow our woven shirts manufacturing capacities in India to capture fast-growing demand for “Made in India” products Turn around Tropic Group through market-product positioning adjustments and manufacturing performance enhancements Manage and provide full support to COTONA (Madagascar) for the JV business plan execution Pursue our strategic vision around digitalisation Accelerate the deployment of our photovoltaic electricity generation across our regions	CO2.emissions evaluation Scope 1, 2 and 3 as well as implementation of a comprehensive supply chain traceability tool Attract excellent talents to enhance the effectiveness of our high-level succession plan process Launch a CIEL Textile International Graduate Program

Priorities for FY23

Invest and grow our woven shirts manufacturing capacities in India to capture fast-growing demand for “Made in India” products
Turn around Tropic Group through market-product positioning adjustments and manufacturing performance enhancements
Manage and provide full support to COTONA (Madagascar) for the JV business plan execution
Pursue our strategic vision around digitalisation
Accelerate the deployment of our photovoltaic electricity generation across our regions

CO2.emissions evaluation Scope 1, 2 and 3 as well as implementation of a comprehensive supply chain traceability tool
Attract excellent talents to enhance the effectiveness of our high-level succession plan process
Launch a CIEL Textile International Graduate Program

ESG COMMITMENTS

CIEL TEXTILE CARBON FOOTPRINT

Our aim is for no more coal as fuel in CIEL Textile. Signatory of the Zero Discharge of Hazardous Chemicals (“ZDHC”), an organisation working on the implementation of safer chemistry practices to protect consumers, workers and the environment. Full member of the Sustainable Apparel Coalition (“SAC”), an alliance of stakeholders in the Textile & Apparel supply chain, addressing the urgent, global systemic challenges.

SUSTAINABILITY IN FINANCE

Launched the sustainability in finance journey. Training and awareness to finance team, structuring our investments to be able to identify which investment can be classify as sustainable investment, working on new credits lines with banks for the purchase of sustainable raw materials, identified the green loans and grants available on the market for CIEL Textile.

IDENTIFIED RISKS AND MITIGATION

STRATEGIC

• External economic shocks can negatively impact operations and sourcing

FINANCIAL

• Foreign exchange rate volatility may lead to difficulty in predicting financial results

OPERATIONAL (CYBER)

• The risk of lost work days in operation due to possible cyber related incidents

COMPLIANCE

• Ever-evolving regulatory and compliance requirements can lead to reputational damage

CIEL TEXTILE

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