“BMIT Technologies Delivers Strong Revenue Growth in 2024’s Challenging Market…”

BMIT achieved record revenues of €33.6 million in 2024, a 17.2% increase.

BMIT achieved record revenues of €33.6 million in 2024, a 17.2% increase (€4.9 million) driven by the full-year contribution from mobile network towers acquired from GO and growth in data center services. However, operating costs rose by 18.9% to €24.6 million, impacting profitability.

BMIT Technologies expanded its infrastructure in 2024, acquiring eight additional mobile network tower sites, bringing the total to 286. Cloud services revenue grew by 21.6%, highlighting strong demand. The company’s financial position strengthened, with improved liquidity, increased equity, and a healthy cash balance of €6 million, bolstered by the scrip dividend. This strategic growth and financial resilience position BMIT for continued success.

Key Financial Highlights:

• Revenue: €33.6 million (+17.2%)
• Operating Profit (EBIT): €9.02 million (+12.9%), with a margin of 26.9% (down from 27.9%)
• EBITDA: €12.7 million (+26.7%), with an improved margin of 37.8% (up from 35.0%)
• Net Finance Costs: €1.8 million (up from €0.35 million) due to increased borrowings.
• Pre-Tax Profit: €7.22 million (-5.6%)
• Net Profit: €4.17 million (-11.7%), with a return on average equity of 35.4% (down from 43.2%)
• Total Assets: €74.9 million (-7.2%)
• Total Liabilities: €7.76 million (-11.1%)
• Total Debt: €49.9 million (-1.5%)
• Total Equity: €12.8 million (+18.4%)

Dividend:

BMIT’s Board recommends a net dividend of €4.0 million (€0.0189 per share), a 20% decrease from the previous year. Shareholders can elect to receive the dividend in cash or new ordinary shares at €0.319 per share.

The Annual General Meeting is scheduled for 18^th June, 2025.

BMIT’s CEO highlighted growth opportunities in cyber resilience, cloud scalability, digital infrastructure, AI, and machine learning. The company will continue to invest in its core business and explore international expansion, focusing on refining solutions and strengthening client relationships.

VBL Group and Ruby Hotels Ltd. Enter Long-Term Lease Agreement for Silver Horse Building

VBL Plc has entered into a significant long-term lease agreement with Ruby Hotels Ltd., a prominent international property operator, for the Silver Horse Building. This building, central to VBL Group’s development cycle, represents a key milestone in the company’s growth strategy.

Ruby Hotels, part of the Ruby Group, benefits from a recent partnership with global hospitality leader InterContinental Hotels Group (IHG), granting access to IHG’s extensive distribution network. This collaboration is expected to significantly enhance the future operations of the Silver Horse Building.

Subject to fulfilling specific contractual requirements, primarily completing the property to company specifications, the lease is projected to have a major impact on VBL Group’s business outlook.

Starting in the 2026 financial year, the lease is anticipated to generate substantial additional revenue, with a significant portion directly contributing to EBITDA, potentially increasing operational EBITDA levels by three to four times.

This agreement reinforces VBL Group’s market position and establishes the Silver Horse Building as a key development within its portfolio.

Malta Company Announcements:

GO plc

The Board of Directors of the Company is scheduled to meet on Wednesday 16 April 2025: 

1. to consider and approve the Company’s Audited Financial Statements for the financial year ended 31 December 2024, and
2.  to consider the declaration of a final dividend to be recommended to the Company’s Annual General Meeting.

Malta International Airport plc

A total of 560,553 passengers travelled through Malta International Airport in February, leading the company to post growth of 18.2 per cent over the same month in 2024. This result was observed in line with a 22.8 per cent increase in aircraft movements.

Traffic peaked towards the end of February, as 26,119 passengers travelled to and from Malta International Airport on 167 flights. 

Seat capacity deployed by airlines climbed 21.1 per cent to stand at 696,519 seats, while seat occupancy rates averaged 80.5 per cent.

The airport’s top drivers of passenger traffic remained unchanged from the previous month, with Malta International Airport’s most connected market, Italy, retaining the top spot on the market leaderboard with a share of 19.2 per cent. 

Following closely behind with a market share of 18.3 per cent was the United Kingdom, which continued to perform well as it registered growth of 18.0 per cent over the same month in 2024.

The most substantial growth was registered by the Polish market (+55.9 per cent), which captured 11.4 per cent of February’s market share. Ryanair and Wizz Air currently connect Malta International Airport to 8 airports in Poland, contributing to this market’s increasing popularity.

The fourth and fifth most popular markets for the month were Germany (7.1 per cent market share) and Spain (6.2 per cent market share).

Kindly be advised that our offices will be closed from 13:00 on Monday, March 17th, 2025

‘Disclaimer: The information provided on this website is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Similarly, any views or opinions expressed on this website are not intended and should not be construed as being investment, tax or legal advice or recommendations. Investment advice should always be based on the particular circumstances of the person to whom it is directed, which circumstances have not been taken into consideration by the persons expressing the views or opinions appearing on this website. Timberland Finance has not verified and consequently neither warrants the accuracy nor the veracity of any information, views, or opinions appearing on this website. You should always take professional investment advice in connection with, or independently research and verify, any information that you find or views or opinions which you read on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. All investments carry risks. Your investments may go up as they may go down, including the possible loss of capital. Past performance is not indicative of future results. Timberland Finance does not accept liability for losses suffered by persons as a result of information, views, or opinions appearing on this website. This website is owned and operated by Timberland Invest Ltd. Timberland Invest Ltd. is licensed to conduct investment services business under the Investments Services Act by the MFSA and is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act. ’