Africa-Press – Mauritius. LONDON and PARIS, June 20, 2022 /PRNewswire/ — Mauritius-listed African investment company CIEL Limited (CIEL.
N0000) delivered its best year-to-date results since the COVID-19 pandemic, surpassing its previous performance just as it celebrates its 110th anniversary.
In the nine months to 31 March 2022, CIEL’s revenue grew 51% to USD 475 million, with an EBITDA margin increasing to 16.8% from 12.2% in the prior-year period.
CIEL, listed on the Stock Exchange of Mauritius and the SEM Sustainability Index, has investments in over 25 companies across six clusters (TEXTILE, FINANCE, HEALTHCARE, HOTELS & RESORTS, PROPERTIES, and AGRO-BUSINESS).
“Our diversified portfolio has proven its strength through the most uncertain times, and now, CIEL is ready to undertake future challenges successfully,” remarks Jean-Pierre Dalais, Group Chief Executive, who has led the company since 2017.
CIEL is headquartered in Mauritius and operates across 10 markets in Africa and Asia, earning 60% of its revenue in USD and EUR, generating strong cash reserves in foreign currencies.
CIEL has leveraged its market position by crafting and executing robust business plans and nurturing and developing companies in its chosen sectors. Founded in 1912 as a sugar business, the conglomerate has evolved and expanded through specific and diversified investments to emerge as a rising star in multiple industries, including HEALTHCARE, TEXTILE, FINANCE, HOTELS & RESORTS, PROPERTIES and AGRO.
This ensures a well-balanced portfolio, positioning the company to tackle future growth. With 19 different production units, CIEL’s TEXTILE business has emerged as a powerhouse, providing a strong alternative to China for the global fashion industry.
Through this cluster, CIEL ships 42 million garments every year to global brands such as Lacoste, Asos, (LON: ASC), and Puma (ETR: PUM), among others.
The TEXTILE cluster is the largest in CIEL’s portfolio in terms of the number of employees, with some 20,000 talents in four nations, across two continents.
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