Medserv revenue exceeds forecasts, surpasses €100m

The MSE Equity Price Index fell by 0.58% to 3,942.3 points as the declines in Malita, AX Real Estate, BMIT, MIA, GO, Harvest and Mapfre Middlesea outweighed the gains in Santumas and MaltaPost. Meanwhile, eight other equities closed unchanged as today’s total trading activity amounted to €0.28 million.

MedservRegis plc traded flat at the €0.65 level across three trades amounting to 5,521 shares. Following the close of trading, MedservRegis published its 2025 annual report. Revenue surged to €104.6 million compared to €70 million in 2024 and ahead of the latest forecast of €84 million published at the time of the October 2025 bond issue. The company explained that the improved performance was principally driven by higher‑than‑anticipated activity at the Maltese shore base in support of offshore drilling operations in Libya and the commencement of the Misurata supply‑base management contract in the fourth quarter of 2025. EBITDA climbed to €22 million from €16.1 million in the previous year and the net profit to shareholders amounted to €5.18 million compared to €1.87 million in 2024.  

The Directors of MedservRegis are recommending the payment of a final net dividend of €0.014758 per share to all shareholders as at the close of trading on Wednesday 13 May 2026 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 27 May 2026. The final net dividend is expected to be paid on 31 July 2026.

Simonds Farsons Cisk plc closed unchanged at the €5.75 level across three deals totalling 2,410 shares.

Lombard Bank Malta plc held the €0.74 level over two deals totalling 5,493 shares. Last Friday, Lombard published its 2025 results. 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. 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.

APS Bank plc closed unchanged at the €0.53 level across seven deals totalling 17,044 shares.

Also in the banking sector, Bank of Valletta plc traded flat at the €2.08 level as 42,740 shares changed hands.

HSBC Bank Malta plc closed unchanged at the €1.42 level on a single trade amounting to 790 shares.

Grand Harbour Marina plc held the €0.90 level on muted activity. Yesterday, GHM declared a gross interim dividend of €0.0195 per share. The dividend is payable on 22 June 2026 to shareholders as at close of trading on 11 June 2026.

Hili Properties plc remained unchanged at the €0.27 level across 15 deals totalling 356,400 shares. Today, Hili Properties plc published its Annual Report and Financial Statements for the year ended 31 December 2025. Total revenue, inclusive of other operating income remained unchanged at €17 million as the Group reported a stable performance across its portfolio of commercial properties in Estonia, Latvia, Lithuania, Malta and Romania. The net profit attributable to shareholders amounted to €6.60 million, which translates into a return on average equity of 5.4% (2024: 3.68%). Shareholders’ funds increased by 5.6% (or €6.7 million) to €126.9 million, which translates into a net asset value of €0.317 (2024: €0.300) per share. The Directors are recommending the payment of a final net dividend of €0.0052 per share on 29 May 2026 to all shareholders as at the close of trading on Wednesday 6 May 2026.

Malita Investments plc slumped by 12.8% to the €0.34 level across four deals amounting to 19,425 shares.

AX Real Estate plc fell by 5.8% to the €0.452 level over two trades totalling 7,800 shares.

BMIT Technologies plc declined by 6.7% to the €0.252 level on a single deal amounting to 1,400 shares.

Malta International Airport plc retreated 1.6% to the €6.05 level across three trades totalling 587 shares.

GO plc slipped by 0.8% to the €2.50 level on a single deal amounting to 180 shares.

Harvest Technologies plc shed 1.0% to the €0.95 level on a single trade of 10,000 shares.

Mapfre Middlesea plc declined 0.6% to the €1.57 level on muted activity.

On the other hand, Santumas Shareholdings plc surged by 8.9% to the €1.10 level on a single deal amounting to 1,300 shares.

MaltaPost plc edged 0.9% higher to the €0.44 level across three trades totalling 81,000 shares.

Today, Trident Estates plc announced that its Board of Directors is scheduled to meet on Thursday 28 May 2026 to consider the approval of the financial results for the year ended 31 January 2026. The Directors will also consider the declaration of a final dividend.

Also today, MIDI plc held an Extraordinary General Meeting which approved the deed of partial rescission of the emphyteutical concession over Manoel Island and Fort Tigné.

Yesterday, Plaza Centres plc published its 2025 results. Revenue decreased by 2.7% to €3.16 million while operating profit fell by 1.8% to €1.62 million. Overall, shareholders’ funds rose by 1.5% (or €0.42 million) to €28.2 million, which translates into a net asset value of €1.107 per share. The Directors are recommending the payment of a final net dividend of €0.0137 per share, to all shareholders as at close of trading on 14 May 2026, subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on Wednesday 17 June 2026. Coupled with the net interim dividend of €0.0098 per share paid out in August 2025, the total net dividend for the year amounts to €0.0235 per share, unchanged from the previous year, and translates into a payout ratio of 54%.

The RF MGS Index dropped by a further 0.20% to 891.244 points as euro area sovereign bond yields increased further, with the German 10-year bund yield hovering near a month high of 3.06%. Meanwhile, WTI crude oil futures hovered close to the USD100 per barrel level as supply constraints continue to dominate the energy markets.

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.

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