“MedservRegis plc’s 2024 pre-tax profit reaches €3.87 million…”

MedservRegis plc announced a post-tax profit of €2.09 million for 2024, a significant 62 per cent increase from the €1.29 million in 2023, driven by stronger revenues in Malta, the United Arab Emirates and Iraq. While adjusted EBITDA reached €16.1 million, it was slightly lower than the previous year’s €17.5 million.

The integrated logistics specialist for the energy and mining sectors, formed in 2021 through the merger of Medserv and Regis Holdings, operates under names like Medserv in the Mediterranean, METS in the Middle East and Regis in sub-Saharan Africa. In 2024, the company’s overall profit surged to €3.87 million (over double 2023’s €1.67 million), despite a slight dip in total revenues to €70 million from €73.9 million in 2023.

Revenue streams were primarily from Integrated Logistics Support Services (52 per cent) and Oil Country Tubular Goods (47 per cent). The cost of sales amounted to €50.50 million, including various impairment losses and amortisation.

Plaza Centres plc’s pre-tax profit rises by 4.05% to €1.61 million.

Reporting its financial performance for the year ending December 31st, 2024, Plaza Centres plc, which manages a retail and office complex in Sliema, saw its pre-tax profit grow by 4 per cent to €1.61 million, up from €1.55 million in the previous year. The company, which also runs its subsidiary Esports Avenue Limited, generated total revenues of €3.25 million in 2024, a 5 per cent increase year-over-year.

Operating costs for the group increased by 7.34 per cent to €1.6 million, with marketing, maintenance, and administrative expenses reaching €1.05 million. Depreciation expenses amounted to €550,828, a 6.5 per cent rise. Plaza Centres also reported investment and other related expenses of €12,383 and finance costs of €224,571. At the close of 2024, the group’s current liabilities were higher than its current assets. The Plaza Shopping Centre had an 88 per cent occupancy rate, while the Commercial Centre achieved 95 per cent. The directors have recommended a final net dividend of €0.0137 per share, totaling €350,000.

The Plaza Shopping Centre, which opened in 1993, offers four retail floors and five office floors. Plaza Centres’ 51 per cent ownership of Esports Avenue Limited, operating Esports Plaza, supports the shopping centre’s ground floor amenities.

Hili Properties reports a pre-tax profit of €6.1 million.

Hili Properties plc reported a solid financial year in 2024, achieving a pre-tax profit of €6.1 million, according to Chairman Pier Luca Demajo in the company’s latest financial statements. Despite the sale of their Latvian shopping centre, the group maintained consistent turnover and profitability, generating €15.8 million in revenue (a slight increase from €15.6 million in 2023) and an EBITDA of €13.2 million (up from €12 million).

This improved EBITDA margin was attributed to one-off operating income and successful cost reduction efforts, which lowered administrative expenses to €2.6 million. The company also highlighted the full acquisition of their key Romanian office property, MIRO, which reached full occupancy during the year. Looking ahead, Hili Properties is progressing with development projects in Latvia and Malta, aiming to enhance their portfolio value.

MIDI Reports €3.7 Million Pre-Tax Loss in 2024

MIDI Group’s 2024 annual report revealed a pre-tax loss of €3.7 million, an increase from the €2.1 million loss in the previous year. The group, primarily focused on the Manoel Island and Tigné Point projects, attributed this performance to the cyclical nature of property development and a €2 million write-down in inventory to reflect current market conditions.

While sales revenue from their Q3 – Fortress Gardens project at Tigné Point decreased due to their revenue recognition policy, their property rental and management segment remained stable.

Driven by strong revenue, VBL plc’s EBITDA grew by 45% in 2024.

VBL’s financial results also showed a rise in investment income to €2.56 million in 2024, up from €2.04 million in 2023 and significantly exceeding earlier projections by €1.54 million. This increase primarily reflects gains from the enhanced value of its property portfolio due to development and market revaluations.

The company explained that these valuation gains were largely the result of independent asset revaluations linked to their ongoing renovation and development projects. While acknowledging that income from revaluations can vary annually, management remains confident in the long-term growth trajectory of the company.

Malta Company Announcements:

Malita Investments plc

The Board of Directors resolved to recommend to the AGM the approval of a final gross dividend of €7,287,2231 or €0.0218 per share, equating to a final net dividend of €5,644,481 or €0.0271 per share. The final dividend cossists of:

• An interim dividend of €2,748,327 or €0.0132 per share (net dividend of €1,786,413 or €0.0086 per share), which has already been approved by the directors and paid on 2^nd October 2024 as per Company Announcement number 133/2024 and
• And additional gross dividend of €4,538,904 or €0.0218 per share (net dividend of  €3,858,068 or €0.0185 per share) which the directors are recommending for approval by AGM (the “Additional Dividend”).

If approved, the Additional Dividend will be paid on 30^th June 2025 to those shareholders included in the shareholders register of the Company as 29^th April 2025.

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