Daily Market Highlights (17.05.2022)

MIA generates €4.5 mln in EBITDA in Q1 2022


The MSE Equity Price Index eased by 0.02% to 3,735.597 points as the declines in MIA, GO and HSBC marginally outweighed the gains in IHI, Mapfre Middlesea and GHM. Meanwhile, Hili Properties plc stayed at the €0.248 level on a single deal of 19,950 shares. Overall trading activity in equities remained subdued as only €0.09 million worth of shares changed hands. Download today’s Equity Market Summary.

Malta International Airport plc erased some of yesterday’s gains as it slipped by 0.9% back to the €5.80 level across 3,660 shares. Today, MIA published a quarterly update which showed that despite passenger traffic was 44.1% lower than the level achieved in Q1 2019, revenues in the first three months of 2022 amounted to €10.8 million which is 30.4% lower than the €15.6 million figure recorded in the corresponding period in 2019. EBITDA stood at €4.46 million compared to €7.23 million in Q1 2019 whilst the EBITDA margin rebounded to 41.1% which is 5.4 percentage points lower than the level recorded in the first three months of 2019. Overall, MIA reported a net profit of €0.63 million as the airport operator reiterated its optimism for the months ahead including the kick-start of a number of large-scale projects. Meanwhile, low-cost carrier Wizz Air announced that it is setting up a new Malta-based airline with operations expected to start next October.

Also among the large companies by market value, GO plc fell by 1.3% to the €3.16 level on a total of 3,535 shares.

HSBC Bank Malta plc dropped by 2.5% to the €0.78 level on five deals totalling 10,199 shares.

Grand Harbour Marina plc surged by 19.4% to the €0.74 level on 10,750 shares. Yesterday, the Board of Directors declared the payment of a net interim dividend of €0.033 per share. This is payable on Monday 30 May to all shareholders as at close of trading on Thursday 19 May.

Mapfre Middlesea plc advanced by 5.3% to the €1.98 level after recovering from an intraday low of €1.85 (-1.6%). A total of 6,312 shares changed hands.

Today’s only other positive performing equity – International Hotel Investments plc – gained 0.7% to the €0.75 level on 31,180 shares.

The RF MGS Index trended lower for the third consecutive day as it slipped by a further 0.15% to 986.628 points. Sovereign bond yields in the euro area moved higher with the benchmark 10-year German Bund yield climbing back above the 1% level. Yesterday, EBC policymaker Francois Villeroy warned that “a euro that is too weak would go against our price stability objective” as this would contribute to higher imported inflation. Elsewhere in the US, industrial production registered its fourth consecutive monthly increase as it registered a growth of 1.1% which was also above expectations.


This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any 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.