CIEL Limited reports financial results for the Full Year 2020-2021
The decisive actions taken by CIEL in response to the global pandemic in early 2020 have enabled the Group to emerge stronger and leaner out of the crisis. Group revenue of MUR 17.9 bn and EBITDA of MUR 2.7 bn resulted in an EBITDA margin of 15.1% for the financial year ended 30 June 2021 (2020: 14.6%), despite revenue that has not yet fully recovered to pre-pandemic levels. CIEL’s profit after tax for the year stood at MUR 446M compared to MUR 2,178M losses in the prior period.
The global crisis did not stop the Group from looking to the future and continuing to work on the quality and resilience of its portfolio: it divested certain non-core assets such as the Kanuhura resort in the Maldives and the healthcare insurance business in Uganda.