Annual Report

2023

Annual Report

2023

Chairman's
Letter

The Company achieved an EBITDA of Rs 2.4 billion, representing a remarkable 68% surge compared to the pre-Covid financial year of 2019 and a record-breaking Profit After Tax (PAT) of Rs 1.5 billion

Jean-Pierre DALAIS

Our ambitious goal is to reduce our carbon intensity by 50% by 2030. Environmental responsibility is at the core of our focus, and we are strategically positioning ourselves to offer our guests distinctive and sustainable experiences. As we gaze into the future, the demand for travel and the enduring appeal of the Mauritian destination remains robust. Our upcoming reservations and bookings look promising, and we anticipate a high season, provided air connectivity and pricing remain competitive. Additionally, we are gearing up to launch our employee experience enhancement program in the upcoming year to tackle the ongoing industry-wide challenge of a shortage of skilled staff.

Our roadmap for 2023/24 is carefully crafted to ensure our sustained success and growth. We intend to fast track our property on a “low risk basis’’. We will achieve this by completing the La Pirogue Residences property project, executing the Ile aux Cerfs Regeneration Master Plan, and further addressing the industry’s widespread challenge of a skilled labour shortage through our employee experience enhancement program. These initiatives are integral to our ongoing prosperity. Additionally, we remain committed to expanding our market presence and advancing our ADR growth strategy. These complementary pursuits will fortify our position in the market and contribute to our overarching objectives.

CEO’S
INTERVIEW

Our ambitious rebranding and transformation endeavour has yielded exceptional visibility across all markets

Francois EYNAUD​

Financial Review

Highlights

Gearing decreased from 34.8% to 22.7%

30 June 2022 Net Debt gearing Rs 5.3bn Rs 3.4bn 30 June 2023 22.7% 34.8%

MUR: EUR Debt portion at 19% : 78%
Currency Profile

78%Rs 4.13bn 3%Rs 0.14bn 19%Rs 1.00bn MUR EUR GBP

Continuing Operations

Group Revenue

Rs 8,133m

FY19:

Rs 6,216m

EBITDA

Rs 2,448m

FY19:

Rs 1,455m

Profit after tax​

Rs 1,519m

FY19:

Rs 172m

Net Assets

Rs 11,770m

FY19:

Rs 8,542m

Net worth per share

Rs 62.19

FY19:

Rs 44.31

Gearing

22.70%

FY19:

48.10%

EBITDA Margin

30.10%

FY19:

23.40%

Return on Equity

14.05%

FY19:

1.77%

Return on Capital Employed

12.83%

FY19:

5.71%

Note: Comparison to pre-covid year.

©2023 Sun Limited. All rights reserved.
©2023 Sun Limited. All rights reserved. Designed & developed by Beyond Communications.

Annual Report 2023

Seeking perfection, a commitment we chase, enhancing guest joy, in every embrace.

Sunlife, a life led in the Sun, a life enjoyed with style.

Surpassing the ordinary, aiming high, enhancing guest wonder, as days drift by.

Sparking smiles, like the sun’s first ray, enhancing guest contentment, each and every day.

Sculpting moments, a melody of delight, enhancing guest journeys, all year long.