ER Group Limited
Mauritius in One Holding Company
ER Group owns hotels, shopping malls, sugar cane estates, logistics depots, car dealerships and lending businesses across Mauritius, earning its money from rent, room nights and trade.
Bull case for ER Group Limited
Beach Hotels Doing the Heavy Lifting
Hotels and travel are the group's biggest profit engine, driven by fuller rooms at better rates.
Rent Cheques Every Month
Malls and offices it owns produce steady rental income that does not depend on tourist arrivals.
Many Businesses, One Island Balance Sheet
Eight different segments mean a weak year in one can be cushioned by another.
Bear case for ER Group Limited
Tourism Can Stop Overnight
Hotel earnings depend on long-haul visitors, and travel demand falls fast when the world wobbles.
Permits Are the Bottleneck
Property and renewable-energy projects have already slipped while waiting for official approvals.
Debt and Minority Owners Take a Cut
Finance costs are large and much of the group's profit belongs to outside shareholders in subsidiaries.