Daily Market Highlights (26.07.2022)

MedservRegis aims at an EBITDA of €10.3mln in 2022


The MSE Equity Price Index extended yesterday’s decline as it slipped by a further 0.4% to 3,668.068 points. The drop in the share prices of six companies outweighed the gains in three other shares whilst various equities closed the day unchanged. Overall trading activity contracted to €0.07 million as several equities traded on negligible volumes. Download today’s Equity Market Summary.

Today’s main development across the local equity market was the publication by MedservRegis plc of the Financial Analysis Update providing the projected performance and position of the company for the 2022 financial year. Revenues are expected to rebound to €48.8 million reflecting the improved operating environment as well as the higher level of business especially in the Mediterranean region and the Middle East. Moreover, EBITDA is projected to nearly double to €10.3 million when compared to the prior two years. From a financial position, MedservRegis is anticipating closing the year with a cash balance of €9 million and a gearing of 50.2%. Meanwhile, MedservRegis also announced that it intends to do an early redemption payment of €7 million to the holders of the existing €20 million 6.00% secured and guaranteed notes 2020/2023 on or around 30 September 2022. Thereafter in Q4 2022, MedservRegis intends to submit an application for the admissibility to listing of a new €13 million secured bond. As a result, MedservRegis intends to redeem the remaining outstanding amount of €13 million of the 6.00% secured and guaranteed notes 2020/2023 from the proceeds of the new bond. MedservRegis noted that these developments form part of its re-financing objectives in response to its improved financial position and performance.

Both the ordinary and the preference shares of RS2 Software plc ended in negative territory, with the ordinary shares losing 2.6% to the €1.50 level whilst the preference shares retreating by 1.3% to the €1.48 level. A total of 13,701 shares changed hands.

Also among the large companies by market value, International Hotel Investments plc dropped by 1.4% to the €0.71 level across 720 shares.

Low trading activity also took place in the equities of PG plc, BMIT Technologies plc, and MIDI plc. PG closed at the €2.04 level (-4.7%), BMIT at the €0.474 level (-1.3%), whilst MIDI moved back to the €0.33 level (-2.9%).

Bank of Valletta plc was the most actively traded equity today with a gain of 1.6% to the €0.925 level across 34,526 shares. The Bank is due to publish its interim results on Thursday 28 July.

FIMBank plc also advanced by 1.6% to the USD0.185 level albeit on just 2,878 shares.

A single deal of 125 shares lifted the share price of Harvest Technology plc by 3.3% to the €1.26 level.

Meanwhile, seven companies traded flat on trivial volumes. These were: GO plc (€3.00), Malita Investments plc (€0.70), Malta Properties Company plc (€0.494), Main Street Complex plc (€0.40), Simonds Farsons Cisk plc (€7.45), Tigné Mall plc (€0.65), and Trident Estates plc (€1.35).

Two deals totalling 12,500 shares left the share price of APS Bank plc at the €0.655 level. APS is due to publish its interim results on Thursday 28 July.

The RF MGS Index moved higher for the third consecutive day as it advanced by a further 0.24% to 949.486 points. The energy crisis in Europe continued to dominate headlines as EU officials reached an agreement to curtail natural gas consumption amid uncertainty over the reliability of supply coming from Russia.


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.