MIA announces 5-year investment plan of €175m

The MSE Equity Price Index eased by 0.15% to a 2-week low of 3,554.395 points as the declines of BOV, Malita, and PG outweighed the gains of HSBC and MIA. Meanwhile, APS Bank plc remained unchanged at the €0.60 level on four deals totalling 19,413 shares. Download today’s Equity Market Summary.

Malta International Airport plc continued to trade in a tight range as it rebounded back to the €5.65 level (+0.9%) on five trades totalling 11,415 shares. Following the close of today’s trading session, MIA announced that the company is investing €175 million in the transformation of the airport in line with the company’s vision to take passenger numbers beyond the record levels of 2019. An amount of €39 million are planned to be disbursed in 2023. MIA also published its targets for 2023 which include passenger movements of 6.3 million (7.7% growth from 2022 and representing 86% recovery of pre-pandemic traffic in 2019). MIA expects to generate revenues of €97 million in 2023 (2019: €100.2 million), EBITDA of €59 million (2019: €63.2 million), and net profit of €29 million (2019: €33.9 million).

Today’s best performing equity – HSBC Bank Malta plc – surged 4% to regain the €0.78 level across twelve trades totalling 65,000 shares.

Malita Investments plc was today’s worst performing equity as it plunged by 5.1% to the €0.65 level on one deal of 80,000 shares.

Bank of Valletta plc moved 3.2% lower to the €0.90 level across four deals totalling 17,093 shares.

A single trade of 17,500 shares pulled the share price of PG plc 1% lower to the €2.06 level.

The RF MGS Index advanced by 0.72% to 890.288 points reflecting the downward movement in eurozone yields. Indeed, the German 10-year bund yield fell below the 2% level for the first time since mid-December. Data published by Eurostat showed that the inflation rate in the eurozone eased to 9.2% in December, the lowest since August 2022, reflecting the lower energy prices of the past few months. Elsewhere, the UK’s consumer price index in December also eased lower to 10.5%.

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