MaltaPost 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 28 May 2026, MaltaPost plc published the Interim Financial Statements for the six-month period ended 31 March 2026.
Revenue increased by 11.3% to €24.0 million from €21.5 million in the same period last year, reflecting the steady performance across key business areas, particularly parcel and logistics-related activities. MaltaPost explained that €11 million was local revenue while €13 million was attributed to international cross-border activities. The Directors noted that the shift from traditional letter mail to digital communication channels persisted, but e-commerce and parcel-related remained important contributors to revenue growth and operational activity.
Operating expenses increased by 10.6% to €20.4 million. MaltaPost noted that increased operating costs were partially mitigated by continued operational improvements, including route optimisation initiatives.
Consequently, operating profit grew by 15.4% to €3.59 million from €3.11 million in the same period last year. Excluding depreciation and amortisation charges, EBITDA increased by 14.0% to €4.87 million from €4.28 million in H1 2024/25 and the EBITDA margin improved to 20.3% (H1 2024/25: 19.9%).
After accounting for a minimal net finance costs and a marginal share of loss from the company’s life insurance associate IVALIFE, the postal operator reported a profit before tax of €3.58 million, which is 12.5% higher than the €3.18 million in the comparable period last year. After accounting for a tax charge of €1.35 million and a non-controlling interest of €0.08 million, the net profit attributable to shareholders amounted to €2.15 million which translates into an annualised return on average shareholders’ funds of 12.7% (H1 2024/25: 11.7%).
The Statement of Financial Position as at 31 March 2026 compared to the position as at 30 September 2025 shows that total assets grew by 1.5% to €58.9 million, which include cash balances of €10.7 million and €2.0 million in financial investments.
Meanwhile, total liabilities increased by 2.6% to €23.2 million but the postal operator remained free from any borrowings. Shareholders’ funds increased marginally to €35.0 million from €34.8 million last September.
Outlook
The Directors stated that the Group remains cautiously optimistic while recognising continued uncertainty within international trade and logistics markets. Moreover, attention is being given to expected regulatory changes within the European Union, including the proposed introduction on 1 July 2026 of a fixed customs tariff of €3 per item on low-value goods entering the EU and the potential imposition of an additional handling fee from November 2026. There measures may affect cross-border e-commerce activity and parcel import volumes from non-EU markets.
The Board highlighted that MaltaPost remains committed to sustainable growth of its existing business lines while continuing to enhance customer experience and also seek additional opportunities to diversify and strengthen its income streams.
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.