Financial analysis: Airport registers new record for passengers in February
Stock market declines in AX Real Estate and BOV but gains in HSBC and APS
The MSE Equity Price Index fell by 0.81% to 3,891.087 points as the declines in AX Real Estate, BOV, GO, MIA and the ordinary shares of RS2 outweighed the gains in HSBC and APS.
Meanwhile, two other equities closed unchanged as today’s trading activity amounted to €0.12 million.
Malta International Airport plc moved 2.4% lower to an almost two-month low of €6.00 over five deals totalling 8,145 shares.
Following the close of trading, MIA announced that in February 2025 passenger movements reached a new record for February and amounted to 560,553 passenger movements, which is 18.2% higher than the previous record registered in February 2024.
Meanwhile, the seat load factor declined to 80.5% compared to 82.5% in February 2024.
In this respect, the airport operator noted that seat capacity increased by 21.1% when compared to the same month last year.
AX Real Estate plc slumped by 8.5% to a three-month low of €0.41 across four deals totalling 9,215 shares.
The Directors are proposing a gross final dividend of €0.008424 per share to be paid on 14 May 2025 to all shareholders as at the close of trading on 25 April 2025.
Bank of Valletta plc shed 1.0% to the €1.94 level on two deals amounting to 15,583 shares.
The Board of Directors of BOV is scheduled to meet on Wednesday 26 March 2025 to consider the approval of the financial statements for the year ended 31 December 2024.
The Directors will also consider the declaration of a final dividend.
GO plc fell by 4.4% to the €2.60 level over four trades amounting to 2,060 shares. Today, GO plc announced that its Board of Directors is scheduled to meet on Wednesday 16 April 2025 to consider the approval of the financial statements for the year ended 31 December 2024. The Board will also consider the declaration of a final dividend.
The ordinary shares of RS2 plc plummeted by 8.5% to a multi-year low of €0.43 over five deals amounting to 26,358 shares.
On the other hand, APS Bank plc surged by 3.3% to the €0.62 level on two trades amounting to 3,000 shares. The Board of Directors of APS is scheduled to meet on Thursday 13 March 2025 to consider the approval of the financial statements for the financial year ended 31 December 2024. They will also consider the declaration of a dividend, subject to regulatory approval.
Also in the banking sector, HSBC Bank Malta plc moved 0.6% higher to the €1.56 level over three deals totalling 8,170 shares.
BMIT Technologies plc closed unchanged at the €0.35 level as 13,895 shares changed hands. BMIT are expected to publish the 2024 annual financial results tomorrow.
Simonds Farsons Cisk plc held the €6.30 level on a single trade of 442 shares.
Today, VBL plc announced that it entered into a long-term lease agreement with Ruby Hotels Ltd for the lease of the Silver Horse Building. Ruby Hotels Ltd is part of the Ruby Group and recently joined forces with InterContinental Hotels Group (IHG), which provides access to IHG’s distribution platforms across the world. VBL explained that the Silver Horse Building represents a significant portion of the new development areas that are currently being developed by VBL. The lease agreement is subject to several conditions, including the completion to specification of the property. VBL noted that once the lease becomes effective, it is expected to generate substantial lease revenue as from financial year 2026, and the majority of revenue is expected to contribute directly to EBITDA, which is projected to increase the current operational EBITDA levels by up to 3 to 4 times.
The RF MGS Index remained virtually unchanged at 901.671 points as euro area sovereign bond yields held the elevated levels of last week. The focus in the eurozone remained concentrated around the defence spending budgets. Meanwhile in the US, investment sentiment fell amid prospects of an economic slowdown following the recent trade tariffs imposed on several trade partners, which also resulted in reciprocate tariffs being imposed by the targeted countries.
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.