MIA share price jumps 10% on strong volumes

The MSE Equity Price Index advanced by just over 1% to 3,763.456 points largely driven by the surge in MIA. BOV and HSBC also closed the session higher while four equities registered declines. Meanwhile, five other equities closed unchanged. Today’s total trading activity in local equities climbed to €1.23 million. Download today’s Equity Market Summary.

The majority of today’s trading took place across the shares of Malta International Airport plc. The share price of MIA surged by 9.6% to an over 3-year high of €6.25 across strong volumes totalling 158,116 shares having a market value of nearly €1 million. Following the close of yesterday’s trading, MIA published the December 2024 traffic results and provided key performance targets for 2025, in which it expects passenger movements of 9.3 million compared to the 2024 figure of 8.96 million. This is expected to translate into revenues of €147 million, EBITDA of €91 million and net profit of €48 million, all of which would be record levels. Capital expenditures are forecasted at €70 million. MIA also stated that the Board of Directors has resolved to recommend to shareholders at the forthcoming Annual General Meeting (AGM) a proposal for the Company to put in place a share buyback programme. The Company explained that the proposal will include a minimum purchase price per share of €3.00 and a maximum of €7.38. The total amount of shares that can be repurchased will amount to 1% of the total issued share capital, equivalent to 1,353,000 shares. Any shares repurchased will be cancelled.

Also among the large companies by market capitalisation, Bank of Valletta plc moved 1.2% higher to the €1.73 level across volumes totalling 69,127 shares.

HSBC Bank Malta plc extended yesterday’s gains by a further 0.7% to the €1.42 level across five trades totalling 34,098 shares.

GO plc traded flat at the €2.60 level on two deals totalling 1,000 shares.

A single trade of 15,000 shares left the share price of Hili Properties plc unchanged at the €0.202 level.

PG plc closed unchanged at the €1.90 level after recovering from an intraday low of €1.86 (-2.15). On Wednesday, PG announced that in relation to the land acquired in 2022 in the limits of Qormi, in close proximity to the PAVI Shopping Complex, the company’s subsidiary which purchased the site entered into a Deed of Modification with the Lands Authority, representing the Government of Malta, as a result of which it was agreed that the property’s permitted use be changed from industrial to commercial. This modification was made for the consideration of just under €4.80 million.

International Hotel Investments plc (5,214 shares) and Malta Properties Company plc (505 shares) also closed unchanged at the €0.43 and €0.36 levels respectively.

APS Bank plc erased most of yesterday’s gains as it fell by 4.2% to the €0.575 level across two trades totalling 3,530 shares.

MaltaPost plc plunged by 5.8% to the €0.452 level on a single trade of 4,580 shares. Shareholders as at close of today’s trading will be entitled to a net final dividend of €0.024 per share, payable on Thursday 20 March 2025 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled for 20 February 2025.

MaltaPost’s parent company, Lombard Bank Malta plc declined by 1.3% to the €0.78 level, albeit on trivial volumes.

A single traded of 35,000 shares pulled the share price of Malita Investments plc 0.9% lower to the €0.525 level.

The RF MGS Index extended yesterday’s gains by a further 0.28% to a one-week high of 909.976 points. The International Monetary Fund (IMF) updated its global growth forecast for 2025 to 3.3%, marginally higher than its earlier forecast of 3.2%. The IMF explained that the increase reflects the better prospects for the US economy, which offsets the downgrades in other major economies. The IMF also expects further global growth of 3.3% in 2026, in line with its previous projection.

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited 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.