Hal Mann Vella Group plc - Updated Financial Analysis Summary

On 25 June 2025, Hal Mann Vella Group plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and position of Hal Mann Vella Group in 2025:

• Revenues are expected to increase by 17.4% to €31.8 million as the Group anticipates growth in income across all three operating segments. Income from ‘manufacturing and general contracting services’ is anticipated to increase by 13.2% to €25.4 million (2024: €22.5 million). Revenue from ‘property and development’ is projected to surge by 77% to €3.6 million (2024: €2.0 million), whilst rental income is expected to increase by 7.4% to €2.8 million (2024: €2.6 million).
• EBITDA is anticipated to drop by 9.6% to €6.2 million, as the growth in cost of sales and other operating expenses is projected to outweigh the growth in revenue.
• Net finance costs are expected to decrease by 3.7% to €2.5 million. However, in view of the lower EBITDA, the interest cover is expected to weaken to 2.5 times, from 2.7 times in the previous year.
• Total debt is projected to decrease by 1.8% to €56.8 million, including €8.2 million in lease liabilities. Consequently, the Group’s gearing ratio (calculated as total debt divided by total debt plus equity) is anticipated to drop to 50.7%, from 51.7% as at the end of last year.
• The Group’s total assets are expected to decrease by 5.4% to €130.6 million, and the debt-to-asset ratio is expected to remain virtually unchanged at 0.43 times.