NMH Ltd Sees Strong Growth In First Half of 2025

New Mauritius Hotels Ltd (NMH) has maintained its upward momentum in the first half of the 2025 financial year, recording a solid performance. The group’s revenue reached Rs 8.61 billion, a 17% increase from the Rs 7.36 billion achieved in the first half of the previous year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose to Rs 2.61 billion, compared to Rs 2.41 billion in the same period last year.

Net profit after tax stood at Rs 1.09 billion, up from Rs 1.06 billion in the same period in 2024.

This performance was achieved despite a rise in wages, the payment of the 14th-month bonus, and increasing operational costs, including the introduction of a new Corporate Climate levy of 2%.

Confident Looking Ahead To Second Half

NMH is entering the second half of the year with confidence and optimism, based on forward bookings.

The group is forecasting revenue of over Rs 16 billion and EBITDA exceeding Rs 4.5 billion for the year ending June 30, 2025, despite the challenges posed by significant operational costs and inflationary pressures.

“We are recording another solid performance, despite a context marked by continuous increases in operational costs,” said Stéphane Poupinel de Valencé, Chief Executive Officer (CEO) of NMH.

“I would like to thank our team on Mauritius and abroad for their commitment, enabling us to maintain growth while consolidating our position as a leader in the Mauritian hospitality industry.

The prospects for the second half are promising, and we are confident of closing the financial year 2025 with revenue growth and stable EBITDA around Rs 4.5 billion.”

Strategic Priorities

NMH’s priorities remain enriching the Artisan and Client experience, improving operational efficiency, and reducing debt, with digital transformation as a strategic lever.

Internationally, NMH’s three tour operators continue to contribute significantly to the group’s profitability.

Debt Reduction

The group is continuing its debt reduction strategy. Interest-bearing debt charges decreased by 11% to Rs 568 million, compared to Rs 644 million in the first half of 2024.

This reduction is supported by both a decrease in debt and more favorable interest rates.

Meanwhile, the group’s equity has increased by approximately Rs 2 billion over the past 18 months, contributing to a notable decrease in the gearing ratio.

Revenue & EBITDA Growth in Mauritius

NMH’s hotel operations in Mauritius recorded revenue of Rs 6.12 billion, an increase of 17.3% compared to the same period in 2024. The renovation of 165 rooms at Victoria Beachcomber and Villa Royale at Royal Palm Beachcomber Luxury was completed and is now fully operational.

EBITDA from Mauritius operations rose by 10.4% to Rs 1.93 billion.

Seychelles & Morroco

In Seychelles, NMH generated an EBITDA of Rs 227 million for the half-year, up by 10% from 2024.

In Morocco, revenue reached Rs 626 million, an increase of 32.4%.

This performance took place in a context of recovery following a challenging year marked by earthquakes and instability in the Middle East.

However, EBITDA declined by Rs 34 million due to insurance claims related to the earthquake, which were accounted for in the previous fiscal year.

Partnership With Yamed Investment Management

The NMH Board is pleased to announce a strategic partnership with Yamed Investment Management, a subsidiary of Yamed Group, to finance the expansion of its resort in Morocco.

Yamed Group is an independent major player in the real estate sector, recognized for its expertise in property development, investment management, and hospitality in Morocco.

This partnership is part of NMH’s strategy to capitalize on the strong growth of the Moroccan tourism industry while sharing investment risk with a reputable investor in Morocco and generating significant cash flows.

These funds will support both the investment in the expansion project and NMH’s ongoing debt reduction program, which will further consolidate its financial position.

Tour Operators

NMH’s tour operators continued their growth trajectory, recording an increase of 13.7% in revenue for the first half of the financial year 2025.

EBITDA stood at Rs 370 million, up by 24.8% compared to the same period in 2024.

The Secured Notes issued by NMH for €40 million to finance the extension of its hotel establishment on Sainte Anne Island in Seychelles came to maturity in November 2024.

These obligations and a €15 million loan granted to Sainte Anne Resort Limited were fully refinanced by the parent company Kingfisher Limited at a lower average interest rate through a private placement.

Source: Le Mauricien