BMIT Technologies plc – Interim Results
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
Financial Performance
On 5 August 2026, BMIT Technologies plc published its interim results covering the six-month period ended 30 June 2026.
Revenue increased by 10.3% to €20.2 million, compared to €18.3 million in H1 2025. Turnover from the ‘Data Centre & Managed Services’ segment rose by 10.7% to €18.0 million, driven by continued growth in cloud, managed services and professional services, together with the full six-month contribution from 56Bit Limited, which had been consolidated for only one month of the comparative period. As in previous reporting periods, this shift in business mix weighed on profitability, since cloud and managed services generally carry lower margins than traditional data centre offerings.
Revenue from the ‘Mobile Network Towers & Property Holdings’ segment advanced by 6.6% to €2.24 million, representing 11.1% of total revenue (H1 2025: 11.5%). BMIT stated that the passive mobile infrastructure acquired from GO plc now includes over 300 managed sites.
Operating costs rose by 17.2% to €16.4 million (H1 2025: €14.0 million), driven by higher direct costs from the growth in cloud and managed services and the full-period impact of 56Bit. Consequently, operating profit (EBIT) declined by 12.2% to €3.78 million compared to €4.31 million in the corresponding period last year, and the EBIT margin narrowed to 18.7% from 23.5%.
Excluding depreciation and amortisation charges of €2.06 million (H1 2025: €1.94 million), EBITDA fell by 6.6% to €5.84 million and the EBITDA margin dropped to 28.9% from 34.1%, with the decline concentrated in Data Centre & Managed Services.
Net finance costs expanded by 49% to €1.28 million (H1 2025: €0.86 million), reflecting the enlarged funding base following the strategic investments completed during 2025.
BMIT also recorded a share of profit of €0.58 million from its associates MPC and EBO, with no such contribution in the comparative period.
Overall, BMIT reported a pre-tax profit of €3.07 million which is 10.8% lower than the previous corresponding figure of €3.45 million. After accounting for a tax charge of €1.40 million and a minimal profit attributable to non-controlling interests, the net profit attributable to shareholders amounted to €1.66 million (-12.8%), which translates into an annualised return on average equity of 27.4% (H1 2025: 34.5%).
The Statement of Financial Position as at 30 June 2026 shows that total assets stood at €99.3 million. The Group’s asset base remains dominated by intangible assets of €48.4 million, largely consisting of goodwill arising on acquisitions in previous years, and by its investments in associates, carried at €26.9 million, of which the holding in MPC accounts for €25.2 million. Property, plant and equipment amounted to €10.1 million, whilst trade and other receivables stood at a higher level of €9.63 million and cash and cash equivalents at €2.34 million.
Total liabilities rose by 3.4% (or €2.83 million) to €86.4 million.
BMIT’s total debt was broadly unchanged at €68.2 million (31 December 2025: €68.6 million), consisting of bank borrowings amounting to €66.8 million and lease liabilities of €1.35 million.
Meanwhile, total equity was little changed at €12.9 million (31 December 2025: €12.8 million), as the profit generated during the period and the €2.38 million increase in share capital and share premium arising from the scrip issue were largely offset by the dividend declared in respect of the year ended 31 December 2025.
Outlook
In their commentary, the Directors explained that the first half of 2026 was characterised by continued growth across the Group’s digital infrastructure and managed IT services activities.
BMIT stated that it will continue to build on the opportunities created through the acquisition of 56Bit, further strengthening its cloud capabilities, whilst expanding its service portfolio in areas such as cyber resilience and managed services.
The Directors also stated that BMIT expects to take further steps during the second half of the year towards establishing a presence in a new market, and that it expects to commence works on its new office facilities in Zejtun over the same period. On artificial intelligence, BMIT added that it continues to assess how these technologies can strengthen its service offerings and improve internal efficiency.
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This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which 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. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which 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. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.