Quarter 3 results – Financial year 2025 NMH maintains satisfactory performance
New Mauritius Hotels Ltd (NMH) has posted a satisfactory performance for the third quarter (1 January-31 March 2025) of financial year 2025 (1 July 2024-30 June 2025), despite a 4% drop in tourist arrivals to Mauritius, a less favourable EUR exchange rate and a significant increase in staff-related costs. The Group reported revenue of Rs 4.2 billion and an EBITDA of Rs 1.3 billion. Profit after tax stood at Rs 539 million.
“Quarter 3 performance was lower compared to the same period last year. This was mainly due to a dip in occupancy rates at our resorts in both Mauritius and Morocco, largely because Easter holidays fell in April this year, as well as a marked increase in staff costs. That said, the performance of our properties in Mauritius and Morocco has been very encouraging in April, giving us confidence for a robust final quarter,” says the Group’s CEO, Stéphane Poupinel de Valencé. “Our strategy continues to be based on four key priorities: People First, Guest Experience, Sustainability and Operational Efficiency. We are maintaining our focus on these priorities despite rising operating costs and we are optimistic for the months ahead, especially given that our forward bookings remain strong through to the end of December, supported by healthy tour operator and direct booking performance.”
Performance over the first three quarters
For the first nine months of the financial year, NMH recorded a 9% year-on-year increase in revenue, reaching Rs 12.9 billion. EBITDA stood at Rs 3.9 billion, slightly lower than the previous year, impacted by reduced treasury gains and higher staff costs, including the mandatory 14th month bonus for employees earning up to Rs 50,000 per month.
Profit after tax for the period was Rs 1.6 billion, buoyed by lower interest expenses resulting from ongoing debt refinancing efforts and further deleveraging. However, this performance was partially offset by increased taxation, including the 2% Corporate Climate Responsibility Levy.
Outlook
Forward bookings remain encouraging through to the end of December, bolstered by the strong performance of the Group’s tour operators. In an environment of sustained inflationary pressure, NMH continues to focus closely on cost control and productivity. At the same time, the Group’s digital transformation is progressing, with initiatives aimed at enhancing both the Guest and Artisan Experience, while optimising Operational Efficiency.
For the financial year ending 30 June 2025, NMH expects revenue to exceed Rs 16 billion. However, EBITDA and profit after tax are projected to decline slightly year-on-year, mainly due to an approximate 15% increase in staff costs and the impact of the Corporate Climate Responsibility Levy.
Ordinary dividend
Based on the results for the first three quarters of financial year 2025 and current outlook, the Board of Directors has approved a final ordinary dividend of Re 0.40 per share, payable on or around 26 June 2025.