ER Group publishes its Integrated Annual Report 2026, marking its first full year operating as one Group

ER Group has published its Integrated Annual Report 2026, covering the Group’s first full financial year operating as one, following the merger of ENL and Rogers in July 2025.
 

The year brought together close to 13,000 colleagues across six business segments and 17 territories, under one Group.
It also saw the completion of the Group’s previous three-year plan and the launch of a new three-year roadmap, the first chapter of the Group’s strategy towards 2035. In a single year, the Group moved from bringing its businesses together to setting the course for the next three years.
 

A first year building momentum
 

In the report, Group CEO Gilbert Espitalier-Noël reflects on what the first year has demonstrated:

The Group had set a clear expectation for the market at the start of the year, and it delivered on it. EBITDA excluding non-recurring items reached MUR 12.6bn, exceeding the MUR 12bn guidance provided during the year. All operating segments closed the financial year in profit.

Profit after tax excluding non-recurring items increased by 14% to MUR 5.4bn, and net cash from operating activities reached MUR 11.3bn.

Integration is already producing tangible results across the portfolio. Velogic, for example, has broadened its warehousing offer to serve additional Group companies alongside its external clients, strengthening its position in the wider logistics market. The year also saw the launch of the Group’s Sustainable Finance Framework, designed to link part of its funding needs to sustainability targets.

 

Extending the Group’s regional footprint
 

The Integrated Annual Report also outlines ER Group’s regional ambitions and its approach to growth beyond Mauritius.

Building on its expertise in industries it knows well, the Group aims to extend its footprint across the Indian Ocean and East Africa, with Mauritius remaining its home base. The groundwork is in place, with an office in Nairobi and a Rs 1bn co-investment vehicle to support Group companies in Africa.

As part of this ambition, ER Group is targeting 30% of its revenue from outside Mauritius by 2035.

 

Greater transparency and insight into segment performance
 

The 2026 edition gives stakeholders a more detailed view of the Group’s performance and business activities. Segmental reporting has been expanded, and prior-year figures are presented on a pro forma basis for comparability, giving shareholders and analysts the data to assess and compare each of the operating segments more clearly.
 

Read the report
 

Readers looking for an overview of the year can begin with the Chairperson’s message and the discussion with the Group CEO. The performance review and the Group review then give the detail by segment, alongside the full financial statements.

Read the full ER Group Integrated Annual Report 2026 here.