The MSE Equity Price Index remained practically unchanged at 3982.6 points as the gains in BMIT and Harvest were offset by the declines in APS. Meanwhile, four equities closed unchanged as today’s trading activity amounted to €53,000
Yesterday evening, Main Street Complex plc published its Annual Report and Financial Statements for the year ended 31 December 2025. Revenue decreased by 12.0% to €0.63 million reflecting reduced occupancy levels following the non-renewal of tenancy agreements and the temporary closure of large sections of the complex in anticipation of a major refurbishment. EBITDA slumped by 42.4% to €0.27 million. Meanwhile, operating profit dropped by 49.4% to €0.19 million. Overall, Main Street Complex reported a net profit of €0.11 million. Total equity decreased by 0.4% to €9.48 million, which translates into a net asset value per share of €0.489 (31 December 2024: €0.491).
Also yesterday, RS2 plc published its Annual Report & Financial Statements for the year ended 31 December 2025. Total revenue rose by 7.3% to €40.3 million as the growth in ‘Processing solutions’ and ‘Issuing and Acquiring solutions’ outweighed the decline in ‘Software (Licensing) solutions’). General operating costs (excluding foreign exchange and other income) rose to by 1.5% to €37.1 million, driven by higher cost of sales which outweighed the reduction in administrative and marketing expenses. The Group absorbed a foreign exchange loss on operating activities of €1.7 million, compared to a foreign exchange gain of €0.8 million in 2024. Consequently, operating profit fell by 34.9% to €1.65 million. Excluding depreciation and amortisation charges of €2.97 million, EBITDA decreased by 15% to €4.62 million and the EBITDA margin declined to 11.5% from 14.5% in the previous year. Net finance costs eased to €0.32 million from €0.39 million in 2024. The net loss attributable to shareholders amounted to €0.90 million compared to a profit of €0.04 million in the previous year.
Today, Quinco Holdings plc published its first annual report, which however didn’t include a full-year of operations since the company was incorporated during 2025. The report highlighted the €21 million investment in a new head office and logistics complex in Handaq. Quinco is holding its first Annual General Meeting on Thursday 25 June 2026.
Lombard Bank Malta plc published its Annual Report and Financial Statements for the year ended 31 December 2025. Net interest income fell by 4.2% to €26.1 million while non-interest income surged by 7.1% to €50.4 million driven primarily by the increase in postal sales. As a result, operating income climbed by 3.0% to €76.5 million. The financial performance was further supported by a release in expected credit losses of €0.96 million, in line with a net release of €0.93 million in the previous year. The release was primarily attributable to the full recovery of customer exposures previously classified as Stage 3, reflecting the Bank’s effective credit risk management. The Group also recorded a share of profits from associates of €3.3 million, primarily attributable to the gain on disposal of key assets by Gozo Hotels Company Limited. Overall, the net profit attributable to shareholders of Lombard amounted to €15.4 million which translates into a return on average equity of 7.1%. In 2025 shareholders’ funds increased by 6.8% (or €14 million) to €223.7 million, which translates into a net asset value per share of €1.447. The Directors of Lombard are recommending a final net dividend per share of €0.0222 in line with that of the previous year and translating into a payout ratio of 22.3% (2024: 30.2%). The Dividend is payable on 9 July 2026 to all shareholders as at Thursday 21 May 2026, subject to approval during the upcoming Annual General Meeting scheduled to be held on 24 June 2026.
BMIT Technologies plc rose by 3.8% to the €0.27 level on a single deal amounting to 2,500 shares.
Harvest Technologies plc edged 1.1% higher to the €0.96 level also on a single trade of 10,990 shares.
On the other hand, APS Bank plc fell by 1.0% to the €0.515 level across two deals totalling 9,500 shares.
Meanwhile, Bank of Valletta plc closed unchanged at the €2.09 level albeit over trivial volumes.
Hili Properties plc held the €0.27 level across six trades totalling 121,942 shares. Today, Hili Properties announced that its Board of Directors is scheduled to meet on Monday 27 April 2026 to consider the approval of the financial statements for the year ended 31 December 2024. The Board will also consider the recommendation of a dividend.
Malta International Airport plc traded flat at the €6.20 level over two trades amounting to 485 shares.
HSBC Bank Malta plc remained unchanged at the €1.42 level albeit over trivial volumes.
The RF MGS Index remained practically unchanged at 893.299 points. Data released yesterday showed that US business activity expanded at a faster pace than anticipated during April. The improvement was driven by both the manufacturing and services sectors, which both had stronger than expected readings. Meanwhile, continuing jobless claims edged up to 1.82 million marginally above the consensus and higher than the prior reading of 1.81 million pointing to a slight softening at the margins of the labour market.
Today, the Treasury Department announced that it received applications totalling around €893 million (nominal) for the two new Malta Government Stocks. The Treasury exercised virtually all of its over-allotment option and allotted a total of €499 million (nominal).
Subscriptions from retail investors at the fixed prices established by the Treasury Department amounted to around €209 million (46.5% of the total allotment) and all applications in compliance with the terms of the Offering Circular will be accepted in full.
The Treasury also allotted a total of €290 million (nominal) to institutional investors participating in the competitive auction bids. The statistics published by the Treasury indicate that €171 million were allotted in the 3.80% MGS 2036 (III) at prices ranging from a high of 100.00% (translating into a yield-to-maturity of 3.7998%) to a cut-off price of 99.25% (YTM: 3.8914%). The weighted average price for accepted bids was of 99.38%, which translates to a YTM of 3.8754 %. In the 4.10% MGS 2041 (II) a total of €119 million (nominal) were allotted at prices ranging from a high of 100.00% (translating into a yield-to-maturity of 4.0997%) to a cut-off price of 97.39% (YTM: 4.3318%). The weighted average price for accepted bids was of 97.59%, which translates to a YTM of 4.3136%.
This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.
