GO plc - Full-Year Results

On 25 March 2026, GO plc published the Annual Report and Financial Statements for the year ended 31 December 2025.

Group revenue increased by 3.9% to a record €254.4 million (2024: €244.9 million), reflecting growth across the Group’s core segments. Telecommunication and data centre services climbed 3.7% to €217.4 million, sale of goods increased by 9.8% to €30.5 million, while other services declined by 13.0% to €6.5 million. The company highlighted that in Malta’s broadband market, GO accounted for the majority of new net connections. Meanwhile, within Malta’s mobile segment, GO gained approximately 11,000 additional new customers. Elsewhere, in Cyprus, Cablenet expanded its mobile subscriber base by approximately 9% to 171,000 customers, supported by the launch of 5G services.

Operating costs net of other income increased by 3.2% to €216.4 million reflecting the higher level of business activity and inflationary pressures. Excluding depreciation charges, EBITDA increased by 1.5% to €92.0 million compared to €90.6 million in 2024. Operating profit increased by 7.6% to a record of €37.9 million. The EBITDA margin eased to 36.2% (2024: 37.0%) while the EBIT margin strengthened to 14.9% (2024: 14.4%).

Meanwhile, net finance costs increased to €9.3 million from €8.5 million last year.

Overall, GO reported a pre-tax profit of €28.8 million, up from €26.7 million in the prior year. After accounting for a tax charge of €8.1 million and minority interests of €0.5 million, net profit attributable to GO’s shareholders surged by 39% to €20.1 million. This translates into earnings per share of €0.199 (2024: €0.143) and a return on average equity of 25.1% (2024: 17.0%).

The Statement of Financial Position as at 31 December 2025 shows that total assets increased by 9.1% (or €39.3 million) to €469.9 million. Total liabilities rose by 10.6% (or €36.6 million) to €381.0 million, with total debt at €232 million consisting of €190.5 million in borrowings and €41.7 million in lease liabilities. Shareholders’ funds increased by 4.8% (or €3.8 million) to €82.1 million.

Dividend

The Directors of GO are recommending the payment of a final net dividend of €0.09 per share, compared to last year’s final dividend of €0.08. Coupled with the interim net dividend of €0.07 (2024: €0.05) per share paid in September 2025, the total net dividend for financial year 2025 amounts to €0.16 per share, which is 23.1% higher than the previous year.

The final net dividend is payable on Thursday 2 June 2026, to all shareholders as at close of trading on Wednesday 15 April, subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 19 May 2026.

Outlook

Looking ahead, the Group will continue strengthening its core telecommunications services while expanding its digital and technology-driven offerings. Investment in network infrastructure will remain a priority to support growing demand for high-quality connectivity and data services. The Group will continue to pursue growth opportunities in other sectors, including digital infrastructure, cybersecurity services, technology retail and energy solutions.