“Malta International plc – Share Buyback Programme…”

The Board of Directors has proposed a recommendation for shareholders at the upcoming Annual General Meeting (AGM) to approve a share buyback programme with the following key details:

• Minimum Price: €3.00 per share
• Maximum Price: €7.38 per share
• Total Shares Repurchased: Up to 1% of the company’s total issued share capital, or 1,353,000 shares
• Buyback Period: If approved at the AGM, the buyback programme will run from 1 June 2025 until the AGM of 2026. The Board will seek annual approval for any extensions at subsequent AGMs.
• Objective: Any shares repurchased will be cancelled.

An explanatory circular will be sent to all shareholders prior to the AGM with further details about the programme.

Full-Year Traffic Update

Malta International Airport reported a total of 519,539 passenger movements in December, reflecting an 11.8% year-on-year increase compared to 2023. For the entire year of 2024, passenger traffic reached 8.96 million, representing a 14.8% growth over the previous year. This annual growth rate marks the third highest in the airport’s history. The seat load factor (SLF) for 2024 also achieved an all-time high of 86%.

The top five markets for Malta International Airport in 2024 were Italy, the United Kingdom, Germany, France, and Poland. France was the only market to experience a decline in passenger traffic compared to 2023, while the other markets showed varying levels of growth. Poland saw the strongest growth at 53%, largely driven by increased flight frequencies on multiple routes.

2025 Guidance

The company has set the following financial targets for 2025:

• Traffic: 9.3 million passengers
• Revenue: €147 million
• EBITDA: €91 million
• Net Profit: €48 million
• Capex: €70 million

Potential TikTok Sale to Elon Musk Faces $40-$50 Billion Hurdle   

Business moguls, including Elon Musk, may need to prepare for a hefty investment of $40 billion to $50 billion if ByteDance decides to sell TikTok’s U.S. operations. This comes amid potential U.S. bans of the app based on national security concerns. ByteDance has not confirmed a sale, but speculation suggests various scenarios involving Musk as a potential buyer.

CFRA Research’s Senior Vice President, Angelo Zino, estimates TikTok’s U.S. operations are now valued at $40 billion to $50 billion, a decrease from over $60 billion earlier this year due to geopolitical tensions and changing industry valuations. TikTok boasts around 115 million monthly mobile users in the U.S., making it a significant player in the social media landscape, trailing only Instagram. However, Zino’s valuation excludes TikTok’s valuable recommendation algorithms, which are central to the U.S. government’s security concerns.

Bloomberg Intelligence has a lower estimate of $30 billion to $35 billion, indicating that a forced sale would further discount the asset’s value. The challenge lies in finding a buyer capable of navigating regulatory scrutiny regarding data privacy while also managing TikTok’s advertising business. A consortium led by billionaire Frank McCourt and O’Leary Ventures Chairman Kevin O’Leary has expressed interest, with O’Leary stating a willingness to pay up to $20 billion for the U.S. assets, but without the algorithm, which he deemed too risky for regulatory approval.

Malta Company Announcements:

HSBC Bank Malta plc

HSBC Bank Malta plc announced that it will hold an Extraordinary General Meeting on Thursday, 13^th February 2025, for shareholders to consider a resolution allowing the company to furnish and disclose information concerning a potential transaction involving its majority shareholder.

Maltapost plc

The Directors announced that a dividend will be paid on Thursday, 20^th March 2025 to all shareholders as at close of trading on Friday, 17th January 2025 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 20 February 2025.

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