MedservRegis plc – Interim Report

Jonathan Falzon

June 6, 2025

6 June, 2025
2 min read
6 June, 2025
2 min read

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.

On 6 June 2025, MedservRegis plc published an interim report providing an overview of the company’s performance during the first three months of 2025 compared to the same period last year.

Revenue increased by 26% to €21.7 million compared to €17.2 million in Q1 2024, reflecting the surge in income from the Integrated Logistics Support Services segment (+56% to €12.8 million) which was primarily driven by ongoing offshore drilling operations serviced from Malta and Cyprus.  Meanwhile, revenue from Oil Country Tubular Goods (OCTG) and Photovoltaic Farm remained virtually unchanged at €8.8 million and €0.1 million respectively.

In line with the increase in revenue, EBITDA also increased by 26% to €4.9 million compared to €3.9 million in the first three months of 2024. As such, the EBITDA margin remained virtually unchanged at 22.7%. The company highlighted that the strategic focus is for margin growth.

Medserv explained that the 2025 performance is expected to be in line with 2024, reflecting the resilience of the OCTG segment and the resumption of drilling campaigns offshore Libya. Nonetheless, the company noted that it faces challenges including geopolitical instability in Libya and adverse foreign exchange movements, particularly between the euro and the US Dollar.

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.

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.

On 6 June 2025, MedservRegis plc published an interim report providing an overview of the company’s performance during the first three months of 2025 compared to the same period last year.

Revenue increased by 26% to €21.7 million compared to €17.2 million in Q1 2024, reflecting the surge in income from the Integrated Logistics Support Services segment (+56% to €12.8 million) which was primarily driven by ongoing offshore drilling operations serviced from Malta and Cyprus.  Meanwhile, revenue from Oil Country Tubular Goods (OCTG) and Photovoltaic Farm remained virtually unchanged at €8.8 million and €0.1 million respectively.

In line with the increase in revenue, EBITDA also increased by 26% to €4.9 million compared to €3.9 million in the first three months of 2024. As such, the EBITDA margin remained virtually unchanged at 22.7%. The company highlighted that the strategic focus is for margin growth.

Medserv explained that the 2025 performance is expected to be in line with 2024, reflecting the resilience of the OCTG segment and the resumption of drilling campaigns offshore Libya. Nonetheless, the company noted that it faces challenges including geopolitical instability in Libya and adverse foreign exchange movements, particularly between the euro and the US Dollar.