MedservRegis reports improved EBITDA

The MSE Equity Price Index shed by 0.07% to a fresh one-month low of 3,786.715 points as the declines in Hili Properties outweighed the gains in MedservRegis. Meanwhile, three other equities closed unchanged as today’s trading volume in local equities amounted to €0.05 million. Download today’s Equity Market Summary.

MedservRegis plc surged by 11.1% to a three-month high of €0.50 level across five deals amounting to 75,378 shares. The volume-weighted average price stood at €0.456 (+1.4%). Today, MedservRegis issued an Interim Report providing information on their financial and business performance during the nine-month period ended 30 September 2024. The Medserv Group generated total revenue of €50.2 million which was practically unchanged compared to the corresponding period in 2023. The 27.4% increase in revenue from OTCG to €26.5 million (Q3 2023 YTD €20.8 million) fully offset the 20% decline in turnover from ILSS to €23.3 million (Q3 2023 YTD €29.1 million). EBITDA during the nine-month period amounted to €12.6 million which is 7.7% higher than the €11.7 million reported for the same period last year. The growth in EBITDA is reflective of improved margins strengthening the Group’s profitability from its core operations. In this respect, the EBITDA margin for the first nine months of the year improved to 25.1% compared to 23.3% in the first three quarters of 2023.

Hili Properties plc slumped by 8.4% to the €0.218 level on a single trade of 4,200 shares.

Meanwhile, Malta International Airport plc held the €5.90 level on one deal of 2,040 shares.

Malta Properties Companies plc closed unchanged at the €0.344 level across two trades amounting to 7,500 shares.

BMIT Technologies plc remained at the €0.322 level over trivial volumes.

The RF MGS Index fell by 0.09% to 911.948 points. Concerns of a rebound in inflation and a weak economy in Germany increased following the release of the Bundesbank’s monthly report. In this respect, the report outlined that negotiated wages increased by 8.8% year-over-year during the third quarter, which was the largest growth rate in over thirty years. Moreover, the Bundesbank expects inflation to rebound once again by the end of the year as energy prices will not be dampened by the base effect of the rise in the third quarter of 2023. Additionally, the report highlighted that core inflation was still high at 3.1%. Meanwhile, the Bundesbank referenced that there is a negative outlook for short-term economic growth despite the flash estimate that the German economy grew by 0.2% in the third quarter.

 

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.