Muted activity across four equities

The MSE Equity Price Index rose by 0.17% to the 3,927.213 points driven by gains in APS. Meanwhile, three other equities closed unchanged. Trading value in local equities amounted to about €27,000, which is the lowest daily trading amount for this year. Download today’s Equity Market Summary.

APS Bank plc gained 3.3% to the €0.62 level on five deals totalling 12,459 shares. Yesterday, APS published the financial statements for the financial year ended 31 December 2024. Net interest income dropped by 11% to €65.5 million as the growth in gross interest income was offset by higher interest expenses. Meanwhile, APS recorded higher income from other streams, including net fees and commission income, foreign exchange activity and an upward revaluation of its property assets. The Group’s pre-tax profit for the year amounted to €23.8 million which is 21.4% lower than the previous year. Net profit attributable to shareholders amounted to €17.6 million, which is 11.1% lower than last year and translates into a return on average equity of 6.2% (2023: 7.6%). During the year, APS registered growth in lending of over €314 million resulting in consumer loans exceeding the €3 billion level. Likewise, the Bank registered an over €500 million increase in deposits to a total of €3.67 billion. As at the end of 2024, shareholders’ funds stood at €295.7 million, which translate into a net asset value per share of €0.7789. The Directors of APS are recommending the payment of a final net dividend of €0.017 per share to shareholders as at close of trading on 4 April 2025, subject to regulatory and AGM approvals. Shareholders will have the option to receive the dividend either in cash or in new ordinary shares at an attribution price of €0.57 per share. Coupled with the net interim dividend of €0.0053 per share that was paid in September 2024, the total net dividend attributable for the 2024 financial year amounts to €0.022 per share, which is 6.8% higher than last year and represents a payout ratio of 47% (2023: 39%).

Meanwhile, Bank of Valletta plc traded flat at the €2.00 level as 7,741 shares changed hands.

Also among large companies by market value, Malta International Airport plc held the €6.10 level on a single trade of 50 shares.

The ordinary shares of RS2 plc stayed at the €0.40 level across two deals amounting to 8,242 shares.

Today, Lombard Bank Malta plc announced that its Board of Directors is scheduled to meet on Wednesday 16 April 2025 to approve the financial statements for the year ending 31 December 2024. The Directors will also consider the declaration of a final dividend to be recommended at the upcoming Annual General Meeting, subject to regulatory guidelines and approvals.

The RF MGS Index remained relatively unchanged at 900.201 points, as the gains in short-term MGS bid prices outweighed the decline in longer-dated MGS. As such, the yield curve continued to steepen. Data release today showed that inflation in Germany unexpectedly fell to 2.6% during February compared to an anticipated flat reading of 2.8%. Meanwhile, wholesale prices in Germany rose by 1.6%, accelerating from 0.9% growth in the previous month and surpassing the market estimate of 0.2%.

 

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.