Hudson Malta plc - Updated Financial Analysis Summary

On 30 June 2022, Hudson Malta plc published an updated Financial Analysis Summary. The following are the main highlights of the company’s expected financial performance and position in 2022:

• Revenues are expected to increase by almost 32% to €56.8 million reflecting the more favourable economic outlook as well as the twelve-month contribution from Trilogy Limited.
• In view of the much higher level of business, EDITDA is projected to climb to €7.27 million compared to €6.51 million in 2021.
• After accounting for depreciation and amortisation charges of €4.54 million, net finance costs of €1.07 million, and a tax charge of €0.58 million, Hudson Malta is expecting to post a net profit of €1.08 million which is close to the net profit of €1.04 million recorded in the 2021 financial year.
• In terms of financial position, total assets and total liabilities are expected to increase to €62.3 million (+5.8%) and €48.1 million (+3.7%) respectively. In view of the projected drop of 3% in total debt to €33.8 million, coupled with the increase in the company’s equity base to €14.2 million (+13.2%), the gearing ratio is anticipated to ease to 70.4% from 73.5% as at the end of 2021. Likewise, given the growth in EBITDA, the net debt-to-EBITDA multiple and the interest cover are projected to improve to 3.42 times (2021: 7.2 times) and 4.84 times (2021: 4.51 times) respectively.