Movements in equity & bond indices
The MSE Equity Total Return Index posted its fourth consecutive gain, as it reached 8,810.333 points, resulting in an increase of 0.1%. A total of 16 equities were active, six of which registered gains, while another eight lost ground. Total activity tallied to €0.53m, as a result of 142 transactions.
The MSE MGS Total Return Index declined by 0.2% to 947.764 points. A total of 19 issues were active, as three were positive and 14 headed in the opposite direction. The 3% MGS 2040 was the best performer, as it closed 4.2% higher at €97.90. On the other hand, the 1.8% MGS 2051 lost 6.2, ending the week at €61.
The MSE Corporate Bonds Total Return Index posted a 0.1% gain to 1,187.765 points. Out of 71 active issues, 27 advanced while another 22 closed in the red. The 3.5% Bank of Valletta plc Notes 2030 was the best performer, as it closed 3.7% higher at €97.50. Conversely, the 6% JD Capital plc Secured Bonds 2033 headed the list of fallers, as it closed 2.3% lower at €103.
Top market movements
Bank of Valletta plc (BOV) experienced a mixed performance during the week, after its share price fell to a weekly low of €1.94 and a high of €2.04. Despite this performance, the equity ended the week with a gain of 2% at €2. BOV was the most traded equity throughout the week. A total of 124,059 shares were spread over 45 deals, amounting to a total trading value of €246,179.
APS Bank plc partially recovered the previous week’s decline, gaining 3.3% to close at €0.62. The equity traded 13 times involving the exchange of 27,941 shares worth €16,992.
In the same sector, HSBC Bank Malta plc rebounded with a positive 1.3% movement, ending the week at €1.57. The equity was active at the beginning of the week, as 44,940 shares exchanged hands over nine deals. The equity is currently trading 9.8% higher since the beginning of the year.
A sole transaction of 4,502 Lombard Bank Malta plc caused its price per share to decline by 5.1% to €0.745.
FIMBank Malta plc joined the list of losers, ending the week with a 2.4% decline at $0.16. This was the result of two transactions worth $4,700.
Malta International Airport plc shares retreated by 0.8%, finishing the week at €6.10. The equity traded at a weekly high of €6.15 and a low of €6. A total of 12 transactions over 10,630 shares, generated a total turnover of €64,112.
AX Real Estate plc finished the week 8.5% lower at €0.41, recording its first week-on-week loss in 2025. This was the outcome of 33,915 shares, spread across 12 deals worth €13,878.
VBL plc headed north as a result of 31,500 shares executed over two deals. The equity posted a 6.1% gain to close the week at €0.175.
RS2 Software plc ordinary shares recorded a double-digit decline of 15%, falling to an all-time low of €0.40. This was the outcome of 10 transactions, involving 52,600 shares and a total turnover of €22,052. From a year-to-date perspective, the share price fell by 18%.
BMIT Technologies plc (BMIT) ended its two-week positive streak, falling by 3.4% to close at €0.338. The equity traded at a weekly high of €0.35 and a weekly low of €0.322, respectively. A total of 15 transactions, worth €37,216 were recorded.
Company announcements
GO plc (GO) has announced that its board is scheduled to meet on April 16 to review and approve the company’s audited financial statements for the year ending December 31, 2024. Additionally, the board will discuss the declaration of a final dividend, which will be recommended for approval at the company’s annual general meeting (AGM).
VBL plc has announced a long-term lease agreement with Ruby Hotels Ltd for the lease of the Silver Horse building, a key development within the VBL Group’s ongoing projects. Ruby Hotels, part of the Ruby Group, has recently partnered with InterContinental Hotels Group (IHG), gaining access to IHG’s global distribution network, which is expected to enhance the building’s future operations. The lease agreement is subject to conditions, primarily the completion of the property’s specifications. Once effective, it is anticipated to provide substantial revenue growth for VBL plc, with the majority of the revenue directly boosting the company’s EBITDA, potentially increasing it by up to three to four times starting from 2026.
Malta International Airport (MIA) welcomed 560,553 passengers in February, marking an 18.2% increase compared to the same month in 2024. This growth aligned with a 22.8% rise in aircraft movements. The busiest travel day occurred towards the end of the month, with 26,119 passengers flying on 167 flights. Airlines increased seat capacity by 21.1% to 696,519 seats, with an average seat occupancy rate of 80.5%. Italy remained the top market, accounting for 19.2% of traffic, followed by the UK at 18.3%, which saw an 18% year-on-year increase.
In 2024, BMIT’s new segment of digital infrastructure began operations by maintaining GO’s passive network infrastructure and managing lease agreements. Additionally, the group acquired eight more sites, bringing the total to 286. Through these investments, last year was a record year for the group with a substantial year-on-year growth in both revenue and EBITDA. Revenue increased by 17.2% from €28.7m to €33.6m, and EBITDA increased by 26.7% from €10.0m to €12.7m. Profit after-tax fell to €4.2m from €4.7m the previous year, as a result of increased finance costs. The board has proposed a final net dividend of €0.0189 per ordinary share, amounting to a total payout of €4 million. Shareholders will have the option to receive the dividend in cash or as new shares at an attribution price of €0.319 per share. The AGM will be held on June 18.
FIMBank plc has scheduled its AGM for May 13. Shareholders holding at least 5% of the bank’s voting share capital have the right to request the inclusion of items on the AGM agenda or submit draft resolutions.
APS Bank plc reported an after-tax profit of €18.2m at group level, down from €20.6m in 2023, and €17m at bank level, compared to €18.2m the previous year. The decline was mainly due to a narrowing of net interest income, which fell to €65.5m from €73.6m in 2023.
Despite this, interest receivable increased to €114.7m, driven by growth in retail and commercial loan portfolios. The board has proposed a final net dividend of €0.017 per share, payable in cash or new shares at an attribution price of €0.57 per share, subject to regulatory approval. Combined with the interim dividend paid in September 2024, the total net dividend for the year stands at €8.5m.
This article, compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. The company is licensed to conduct investment services by the MFSA and is a member of the Malta Stock Exchange and the Atlas Group. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, tel: 2122 4410, or e-mail info@jesmondmizzi.com.