Ciel
Ciel Ciel

CIEL AT A GLANCE

CIEL Limited (“CIEL”) is a leading diversified investment company in Mauritius, operating five business clusters spread across Mauritius, Africa and Asia. Since its beginnings in agriculture in 1912, the pioneering group is continuously exploring new avenues of development and international expansion.

ciel at a glance
ciel at a glance
ciel at a glance
ciel at a glance

CIEL has more than 50 companies in its portfolio, under the following 5 clusters:

H O T E L S & RESORTS

T E X T I L E

AGRO & PROPERTY

H E A LT H C A R E

FINANCE

ciel at a glance
ciel at a glance
ciel at a glance

FINANCIAL PERFORMANCE

FINANCIAL HIGHLIGHTS

Financial Highlights

MOVEMENT IN PROFIT BEFORE NON-RECURRING ITEMS AND TAX (MUR’M)

Financial Highlights

COMPANY INVESTMENT PORTFOLIO

Financial Highlights
Financial Highlights

CHANGE IN COMPANY INVESTMENT PORTFOLIO VALUE, MUR’M

Financial Highlights

DIVIDEND RECEIVED BY HOLDING COMPANY

Financial Highlights

DIVIDEND PER SHARE MUR

Financial Highlights Financial Highlights

NET ASSET VALUE AND SHARE PRICE

Financial Highlights

CHAIRMAN’S STATEMENT

“2015 WAS ANOTHER YEAR OF PROGRESS FOR CIEL, WITH THE IMPLEMENTATION OUR STRATEGIC PLAN STARTING TO BEAR FRUIT.
EACH OF OUR BUSINESSES HAS STRONG GROWTH POTENTIAL WITH CIEL BEING WELL POSITIONED TO ADDRESS TOMORROW’S CHALLENGES.”

P. Arnaud Dalais
Chairman

chairman

Executive's Report

In line with our defined strategy, we have strengthened our investment portfolio during the year, focussed on operations and further consolidated our main pillars for sustainable long-term value creation. Through targeted and disciplined investments we are aiming at optimising the growth of your company.



Ciel Hotels & Resorts

Executive's Report

CIEL owns 59.8% of Sun Limited (“SUN”) which owns and operates four resorts in Mauritius (La Pirogue, Sugar Beach, Long Beach and Ambre) and one in Maldives (Kanuhura), all operating in the four to five star-segments. In June 2014, SUN has signed a management contract with Shangri-La Hotels and Resorts for the management of Le Touessrok. In June 2015, SUN acquired a 100% stake in Anahita Hotel Ltd, which owns the Four Seasons Resort Mauritius. CIEL in joint venture with Alteo also owns 50% of Anahita Residence & Villas Ltd, which is operating under the brand “Anahita The Resort”.

Executive's Report

TEXTILE

Executive's Report

CIEL owns 56.31% of CIEL Textile Limited, a fully-fledged subsidiary, listed on the Development and Enterprise Market of the Stock Exchange of Mauritius since 2006. CIEL Textile is a world-class global player in textile and garments operations, spanned across Mauritius, Madagascar, India and Bangladesh. It has developed into a regional one-stop shop for textiles, with vertically integrated business units, from yarn spinning to finish garments. CIEL Textile positions itself to be the best alternative to China, with the objective to deliver “unbeatable value” to medium and upmarket retailers.

Executive's Report

AGRO & PROPERTY

Executive's Report

CIEL remains a key stakeholder in the agro-industry and has gradually diversified in the property sector. CIEL Agro & Property includes its 20.96% shareholding in Alteo Limited, listed on the Official Market of the Stock Exchange of Mauritius (SEM) since 2012. It is the largest sugar producer in Mauritius with a production capacity of some 160,000 tons annually. Alteo also owns a controlling interest in TPC Ltd, a sugar factory based in the Kilimanjaro region of Tanzania, which produces around 102,000 tons of sugar annually. In August 2015, Alteo strengthened its position in regional growth markets with the acquisition, through its subsidiary Sucrière des Mascareignes Limited, of 51% in Transmara Sugar Company Limited, a Kenyan sugar factory which produces around 60,000 tons of sugar per annum. Morever Alteo is the owner and developer of Anahita, an IRS development on the east coast of Mauritius. CIEL Agro & Property cluster also includes Ferney Ltd, an important agricultural land-owning company situated close to the airport on the South East coast of Mauritius, and the Ebene Skies building.

Executive's Report

HEALTHCARE

Executive's Report

CIEL Healthcare Limited (“CHL”) is wholly owned by CIEL, with a prime objective to own, operate and manage assets in the healthcare sector in Mauritius and across Sub-Saharan Africa (“SSA”). In March 2015, CHL increased its stake from 44.93% to 58.60% in The Medical and Surgical Centre Limited, the company that owns Fortis Clinique Darné in Mauritius. Since July 2015, CIEL owns through CIEL Healthcare a majority stake in International Medical Group (“IMG”) in Uganda. CHL also holds 35% of Laboratoire International de Bio Analyses Ltée (“LIBA”) and 100% of CIEL East Africa Healthcare Limited (operating as “CIEL Healthcare Africa”).

Executive's Report

Ciel Hotels & Resorts

Executive's Report

CIEL owns 75.1% of CIEL Finance Limited (“CFL”), in partnership with Amethis Finance, an investment vehicle dedicated to Africa, with a total investment capacity of USD 530 million. The specialised Banking & Financial Services cluster of the group is today actively involved in 4 sub-sectors of the financial industry: banking (Bank One - Mauritius and BNI Madagascar), fiduciary services, companies and funds administration (MITCO), asset management (IPRO), and private equity (Kibo Capital Partners, the Kibo Funds I & II). CFL’s mission is to strengthen its presence in Sub-Saharan Africa and the Indian Ocean, where there is a huge growth potential with the rapid economic development in those regions, while generating additional value through synergies between its units and all partners associated to the company at various levels.

Executive's Report

Group Structure

Ciel Agro & Property

ALTEO

CIEL PROPERTIES

EBÈNE SKIES

FERNEY

LA VALLÉE DE FERNEY

Ciel Finance

BANK ONE

BNI MADAGASCAR

CIEL CORPORATE SERVICES

CIEL FINANCE

IPRO

IPRO GROWTH FUND

MITCO

THE KIBO FUND

Ciel Hotels & Resorts

ANAHITA THE RESORT

SUN

AMBRE

ANAHITA FOUR SEASONS

KANUHURA

LA PIROGUE

LE TOUESSROK SHANGRI - LA

LONG BEACH

SUGAR BEACH

Ciel Textile

WOVEN

AQUARELLE CLOTHING

CONSOLIDATED FABRICS

LAGUNA CLOTHING

PASTEL BLUE

FINE KNITS

TROPIC KNITS

CDL KNITS

KNITWEAR

FERNEY SPINNING MILLS

FLOREAL KNITWEAR

Ciel Healthcare

CIEL HEALTHCARE

CIEL HEALTHCARE AFRICA

THE MEDICAL & SURGICAL CENTRE (FORTIS CLINIQUE DARNÉ)

INTERNATIONAL MEDICAL GROUP (IMG)

LABORATOIRE INTERNATIONAL DE BIO ANALYSE (LIBA)

Group Structure

Milestones 2014 - 2015

Milestones 2014 - 2015
Milestones 2014 - 2015

AMETHIS FINANCE TAKES 24.9% SHAREHOLDING IN CIEL FINANCE LIMITED

Milestones 2014 - 2015

CIEL Healthcare Limited INCREASES its stake to 58.60% in THE Medical and Surgical Centre Limited, the company which owns Fortis Clinique Darné

Milestones 2014 - 2015

CIEL Healthcare Africa takes majority stake of 90.10% in International Medical Group - Uganda

SUN Limited ACQUIRES 100% OF ANAHIT AHOTEL Limited,OWNER OF THE FOUR SEASONS RESORT MAURITIUS

OPTIMISATION OF CIEL’S FINANCIAL RESOURCES ISSUE OF MUR 1.05BN NOTES PROGRAMME AT AN AVERAGE INTEREST RATE OF 5 .68%

Milestones 2014 - 2015

ALTEO THROUGH SUCRIÈRE DES MASCAREIGNES LIMITED ACQUIRES 51% STAKE OF TRANSMARA SUGAR COMPANY LIMITED

Milestones 2014 - 2015
Milestones 2014 - 2015

AMALGAMATION OF CIEL INVESTMENT LIMITED WITH AND INTO DEEP RIVER INVESTMENT LIMITED TO FORM A NEW ENTITY RENAMED CIEL LIMITED

CIEL RESTRUCTURES WITH FIVE CLUSTERS NAMELY:

  • CIEL AGRO & PROPERTY
  • CIEL FINANCE
  • CIEL HEALTHCARE
  • CIEL HOTELS & RESORTS
  • CIEL TEXTILE

Milestones 2014 - 2015

LISTING OF CIEL LIMITED ON THE OFFICIAL MARKET OF THE STOCK EXCHANGE OF MAURITIUS LTD

Milestones 2014 - 2015

SUCCESSFUL PRIVATE PLACEMENT AT CIEL LEVEL TO RAISE €50M WITH FFP, ND INITIATIVE , FIMALAC, PROPARCO AND PRIVATE INVESTOR

CIEL TAKES FULL CONTROL OF SUN LIMITED (FORMERLY KNOWN AS SUN RESORTS LIMITED) THROUGH A SHAREHOLDING OF 59.79% IN THE COMPANY

SALE OF PARTICIPATION IN CONSTANCE HOTELS SERVICES LTD

ACQUISITION OF CONTROLLING STAKE IN BANK BNI MADAGASCAR SATHROUGH INVESTMENT IN INDIAN OCEAN FINANCIAL HOLDINGS LTD

THE KIBO FUND II FIRST CLOSING AT US$50M

Governance

CIEL'S EXECUTIVES

Governance

Ciel Corporate Services

Governance

Ciel Textile

Governance

Ciel Healthcare

Governance

CIEL AGRO & PROPERTY

Governance

CIEL HOTELS & RESORTS

Governance

CIEL FINANCE

Governance

CORPORATE SUSTAINABILITY REPORT

CIEL nurtures a humane, ethical and transparent way of doing business through the integration of sustainable (ethical, social and environmental) considerations into its business decision-making process. It is committed to implementing, maintaining and fostering the best sustainability-related practices across its value chain, through the CIEL Sustainability Strategy and Management System.



Fondation CIEL Nouveau Regard

CSR
CSR

ACTogether.mu

CSR
CSR

Vallée de Ferney

CSR
CSR

Ferney Trail 2015

CSR
CSR
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