“Record-Breaking Year for GO: Revenues Soar to €244.9M…”

GO plc, Malta’s longest-standing communications provider, today marked its 50th anniversary at its Annual General Meeting (AGM). The event not only celebrated a half-century of service but also highlighted GO’s evolution into a leader in digital innovation and sustainability, all while reaffirming its commitment to shareholder value and national progress.

For 2024, GO reported record revenues of €244.9 million, a 3.8% increase year-on-year, and a stable net profit of €15.7 million. The company saw strong customer growth, reclaiming its position as Malta’s leading broadband provider and solidifying its reputation as the country’s fastest-growing mobile network.

Nikhil Patil, CEO of GO plc, stated, “GO’s story is intertwined with Malta’s. From pioneering voice to advancing fibre, mobile, cloud, and green energy, we’ve been a catalyst for a digital, sustainable Malta. As we begin our next 50 years, our mission remains clear: to foster an inclusive digital Malta.”

Reuben Attard, GO’s Chief Finance and Chief People Officer, presented a strong financial performance. Operating costs increased with revenue growth, reflecting customer activity and investments. Return on equity stood at a robust 16.9%, placing GO among Malta’s top-performing listed companies. “We generated €64 million in operational cash flow and returned €28 million to shareholders,” Attard noted. “This year’s dividend of €0.28 per share brings our seven-year return total to €154 million—over half our current market capitalization.”

Looking ahead, GO aims to expand its share of the “Digital Spend”—the total consumer investment in connectivity, digital services, and energy. “With our strong brand and deep market presence, we’re ideally placed to be the trusted partner in every part of our customers’ digital lives,” Patil concluded.

The AGM reaffirmed GO’s strategy: strengthening its core telecoms business while expanding into adjacent digital and green sectors. With a healthy capital structure and clear vision, GO is poised to continue driving innovation and delivering shareholder returns for decades to come.

MIDI plc Anticipates Return to Profitability in 2025 Driven by Tigné Point Sales

MIDI plc, the property developer, projects a return to profitability in the current year, primarily fueled by the sale of new apartments within its prominent Tigné Point development. This turnaround follows a reported loss of €3.8 million in 2024.

The company anticipates a substantial increase in revenue, reaching €36.14 million in 2025. This surge is largely attributed to the finalization of sales deeds for numerous apartments at its Q3 Fortress Gardens development within Tigné Point. The completion of these sales will enable MIDI to recognize the revenue on its income statements.

Currently, approximately 92% of the Fortress Gardens development, which comprises 58 apartments and five penthouses, is under promise of sale agreements. Financial analysts engaged by MIDI for their 2025 Financial Analysis Summary, released on Tuesday, estimate that completing these sales will result in a €2.4 million profit for the year. This marks a significant recovery for the company after three consecutive years of losses.

It is important to note that this financial outlook was prepared prior to MIDI’s recent announcement expressing its willingness to negotiate with the government regarding the potential cessation of its Manoel Island development plans and the return of the land to the government. MIDI secured a 99-year lease for Manoel Island, along with a similar lease for Tigné Point, as part of a public concession established at the turn of the century.

MMH Bond Trading Suspension Extended Through August

Trading of the €15 million Mediterranean Maritime Hub (MMH) bonds on the Malta Stock Exchange will remain suspended until at least the end of August. This extension comes as MMH faces an imminent default, a situation that could negatively impact hundreds of investors and several banks.

The initial suspension occurred weeks ago when the company, owned by Gozitan businessman Paul Abela, failed to publish its 2024 financial results. While a resumption of trading was anticipated by the end of June, based on Abela’s prior commitment to present the accounts, MMH has now announced it requires an additional twomonths to finalize ongoing discussions with potential investors. The company aims to publish its financial statements by August 25.

MMH is actively seeking new investors to bolster the struggling company and address its substantial debts. A preliminary agreement has reportedly been reached between Abela and a consortium of private investors to acquire his 65-year concession of the former Malta Shipbuilding, along with approximately €30 million in debt. This debt includes the €15 million bond and additional millions owed to third parties, including Bank of Valletta and APS Bank.

The investing consortium is diverse, comprising both experienced maritime industry stakeholders and developers such as Bonnici Brothers, Paul Attard of GAP Group, and Y&P Cranes. The inclusion of parties without maritime connections has raised suspicions that the project may evolve into a real estate development.

Malta Company Announcements:

Trident Estates plc

The Directors of Trident have resolved to recommend a final net dividend of €0.0119 per share. This significant announcement marks the first dividend payment in six years for the company.

Subject to shareholder approval at the upcoming Annual General Meeting (AGM) on Thursday, June 26, 2025, the dividend will be paid on Friday, June 27, 2025. Only shareholders on record as of the close of trading on Friday, May 30, 2025, will be eligible to receive this dividend.

Simonds Farsons Cisk plc

The Directors of Farsons have resolved to recommend a final net dividend of €0.14 per share out of tax-exempt profits.

Subject to shareholder approval at the upcoming Annual General Meeting (AGM) on Thursday, June 26, 2025, this dividend will be distributed on Friday, June 27, 2025. Only shareholders on record as of the close of trading on Friday, May 30, 2025, will be eligible to receive this payment.

Malita Investments plc

The Directors are recommending an unchanged final net dividend of €0.0185 per share. This dividend is payable to all shareholders who are on record as of the close of trading on Friday, April 25, 2025.

Subject to shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for Thursday, May 25, 2025, the dividend will be paid on Monday, June 30, 2025.

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