“Growth in Polish Apple business behind €282 million in revenue for 1923 Investments plc…”

1923 Investments plc, a subsidiary of Hili Ventures, has published its financial statements for the year ending December 2023, registering a strong performance across its key markets, especially in Poland.

“2023 was an eventful year in which we streamlined our business, expanded our most successful operation, and sharpened our focus, leading us to achieve an unprecedented €282 million in revenue,” said Chairman David Bonett.

1923 Investments is the holding company behind iSpot, Poland’s largest Apple Premium Reseller business. Following the acquisition of its largest competitor Cortland in March last year, iSpot now has a network of 48 Apple Premium Resellers and service points across major Polish cities. In 2023, the Apple business contributed to more than 90% of total group revenue.

Through a joint venture, 1923 Investments also operates four Apple Premium Resellers in Hungary under the iCentre brand. It holds a majority stake in Malta-based Harvest Technology plc, a provider of IT solutions, security systems and electronic payment solutions. Over the last 12 months, the company divested its shareholding in E-Lifecycle Holdings and Hili Logistics.

During the year ending 31 December 2023, 1923 Investments’ consolidated revenue increased by over 40% to €281.8 million, compared to €197.5 million in the previous year. This was bolstered by two main factors: the Cortland acquisition, and a 10% increase in organic revenue due to strong retail performance at iSpot.

EBITDA reached €17.9 million and 1923 Investments closed the year with profit before tax from continuing operations of €7.3 million, compared to €4.3 million in 2022.

Malta Company Announcements:

Phoenicia Finance Company plc

In terms of Capital Markets Rule 5.16.24, Phoenicia Finance Company p.l.c. (the “Company”) announced that the financial results of the Company, as published in the financial statements for the year ended 31 December 2023, resulted in a profit after tax of €18,721 when compared to the profit after tax of €16,000 indicated in the projections published in the Financial Analysis Summary issued on 8 February 2024 by way of Company Announcement (Ref: PHN44) (the “Published Projections”).

Mizzi Organisation Finance plc

The Board of Directors of Mizzi Organisation Finance plc (the “Company”) is scheduled to meet on 29 April, 2024 to consider and, if deemed appropriate, approve, the audited financial statements of the Company for the financial year ended 31December, 2023.

Bank of Valletta plc

Reference is made to Company Announcement No 476 wherein the Market was informed that the Board of Directors of Bank of Valletta p.l.c. had resolved to recommend for the approval of the Annual General Meeting the payment of a gross cash dividend of €0.0700 per share for the second half of 2023 making for a net dividend of €0.0455 per share, subject to Regulatory approval. In this gozregard, the Market is informed that Regulatory approval has been obtained. The cash dividend will be paid on 12 June 2024 to the shareholders appearing on the Bank’s Register of Members, as maintained by the Central Securities Depository at the Malta Stock Exchange, on 1 May 2024.

Trident Estates plc

Notice is given that the 24th Annual General Meeting and Nominations for the Election of Directors of Trident Estates p.l.c. shall be convened on Thursday, 27th June 2024.

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