Four equities pull MSE Equity Price Index lower

The MSE Equity Price Index declined by 0.3% to 3,951.1 points as the declines in LifeStar, APS, Main Street Complex, and Medserv outweighed the gain in MIA. Meanwhile, five other equities closed unchanged as today’s trading activity on the main market amounted to €0.2 million. Download today’s Equity Market Summary.

Following the close of trading on Monday, Grand Harbour Marina plc published its full-year results for 2025. Revenues fell to €5.16 million (2024: €8.23 million), reflecting the absence of the one-time €3.75 million long-term berth sale that was recorded in the prior year. Total revenue increased by 15.2% to €5.16 million in 2025 excluding the non-recurring berth sale, driven by higher income from annual contracts reflecting tariff increases and higher traffic levels. On the expenditure side, operating expenses fell by 33.8% to €3.46 million from €5.22 million in the previous year, primarily reflecting operator fees associated with the absence of the prior-year berth sale. Operating profit fell by 43.5% to €1.70 million (2024: €3.0 million). Excluding depreciation and amortisation charges of €0.44 million, EBITDA fell to €2.14 million (FY2024: €3.44 million), mainly reflecting the absence of the one-time long-term berth sale contribution. Net finance costs remained broadly stable at €0.85 million.

Furthermore, GHM recorded a profit of €2.01 million from its joint venture in Turkey (IC Çeşme Marina), which is higher than the €1.50 million profit reported in the previous year. In this respect, GHM explained that IC Çeşme registered improved revenues from both landside and seaside activities notwithstanding that its performance was impacted by the continued depreciation of the Turkish Lira against the euro. The increase in profit is mainly due to a tax charge of €0.9 million compared to a tax charge of €2.6 million in 2024. Overall, GHM reported a pre-tax profit of €2.86 million, which is 25.9% lower than the previous year. After accounting for a tax charge of €0.44 million, the net profit for the year amounted to €2.42 million.

LifeStar Insurance plc dropped by 40% to the €0.264 level across five trades amounting to 9,000 shares.

APS Bank Malta plc lost 2% to the €0.50 level as 24,000 shares changed hands across two deals.

Main Street Complex plc moved 2.9% lower to the €0.204 level over a single deal of 22,500 shares.

MedservRegis plc fell by 5.8% to the €0.65 level albeit over trivial volumes.

Bank of Valletta plc stayed at the €2.10 level across nine trades totalling 20,737 shares.

GO plc remained unchanged at the €2.64 level across six deals amounting to 13,440 shares.

Hili Properties plc traded flat at the €0.27 level as 64,999 shares changed hands across five trades.

M&Z plc held the €0.58 level over a single deal of 2,000 shares.

International Hotel Investments plc closed unchanged at the €0.436 level over lacklustre trading.

Malta International Airport plc gained 0.8% to the €6.15 level across seven deals totalling 6,461 shares.

The RF MGS Index rose by 1% to 897.1 points, its largest single-day increase in over two years. Market sentiment improved following signs of easing tensions in the Middle East, after President Trump indicated that US forces could withdraw from Iran within two to three weeks, with or without a deal. He also suggested that a possible agreement with Tehran might be within reach. In response, WTI crude oil futures retreated to under USD 100 per barrel. Meanwhile, in the eurozone, the unemployment rate stood at 6.2% in February, up from 6.1% in January but below the 6.3% recorded in the same month last year.

 

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.