MaltaPost plc - Interim Results

On 28 May 2025, MaltaPost plc published the Unaudited Interim Financial Statements for the six-month period ended 31 March 2025.

Revenue increased by 2.4% to €21.5 million from €20.9 million in the same period last year reflecting steady performance across key business areas.

Operating expenses decreased by 0.8% to €18.4 million. MaltaPost explained that it is mitigating losses incurred in delivering the single letter mail service under the Universal Service Obligation.

Consequently, operating profit surged by 32.2% to €3.11 million from €2.35 million in the same period last year. Excluding depreciation and amortisation charges, EBITDA increased by 27.2% to €4.28 million from €3.36 million in H1 2023/24 and the EBITDA margin improved to 19.9% (H1 2023/24: 16.1%).

After accounting for a minimal finance income and share of profit from the company’s life insurance associate IVALIFE Insurance Ltd, the postal operator reported a profit before tax of €3.18 million, which is 28% higher than the €2.49 million in the comparable period last year. After deducting a tax charge of €1.29 million and a non-controlling interest of €0.07 million, the net profit attributable to shareholders amounted to €1.82 million which translates into an annualised return on average shareholders’ funds of 11.7% (H1 2023/24: 11.1%).

The Statement of Financial Position as at 31 March 2025 compared to the position as at 30 September 2024 shows that total assets grew by 0.9% to €53.2 million, which include cash balances of €6.24 million. Meanwhile, total liabilities increased by 2.6% to €19.9 million reflecting larger trade payables as the postal operator remained free from any borrowings. Shareholders’ funds remained virtually unchanged at €32.6 million.

Outlook

In their commentary, the Directors explained that despite a tough environment of salary pressures and evolving customer expectations, MaltaPost remains focused on delivering sustainable growth, enhancing service delivery and digital transformation. For the second half of the year, the company is cautiously optimistic and remains fully committed to maintaining momentum while remaining agile in the face of global market uncertainties including the impact of tariff wars on cross-border commerce.