AX Real Estate registers double-digit growth in operating profit

The MSE Equity Price Index rose by 1.2% to 3,915.074 points as gains in ten equities outweighed the decline in Malita. Meanwhile, two other equities closed unchanged as today’s total value traded amounted to €0.87 million. Download today’s Equity Market Summary.

AX Real Estate plc surged by 36.4% to a one-year high of €0.45 over eight deals totalling 44,933 shares. On Friday evening, AX Real Estate published its results for the year ended 31 October 2025. Revenue increased by 11.5% to €21.6 million primarily driven by the hospitality segment, where all hotels exceeded expectations, outperforming their projected revenue and operating profits. Excluding the fair value movements of investment property, the Group’s operating profit increased by 12.7% to €20.8 million. The financial performance was also positively impacted by an upward movement on the fair value of investment property of €13.5 million, in contrast to the €0.7 million decline in fair value recognised in the previous financial year. The revaluation emanated from the Qawra properties following the outstanding performance of the AX ODYCY Hotel and Lido since its reopening. AX Real Estate reported a net profit of €21.8 million compared to €7.6 million in the previous financial year. Total equity increased by 10.6% (or €14.6 million) to €151.7 million which translates into a net asset value per share of €0.553. The Directors declared their intention to distribute a gross final dividend per share of €0.02586 (net: €0.02198), which will be proposed in the upcoming Annual General Meeting scheduled for Friday 24 April 2026. Coupled with the net interim dividend of €0.0152 per share paid on 15 September 2025, the total net dividend per share attributable to the financial year 2024/25 amounts to €0.037181, which is more than double the dividends paid for financial year 2023/24. The directors will also propose a share buyback programme of €1 million at the upcoming AGM.

Malta International Airport plc rose by 2.6% to the €6.00 level over twelve trades amounting to 107,517 shares having a market value of over €0.6 million.

APS Bank plc increased by 0.8% to the €0.50 level over nine trades amounting to 61,570 shares. Today, APS Bank announced that its Board of Directors is scheduled to meet on Thursday 12 March 2026 to consider the approval of the financial statements for the financial year ended 31 December 2025. The Directors will also consider the declaration of a dividend, subject to regulatory approval.

Also in the banking sector, FIMBank plc advanced by 5.9% to the USD0.18 level over three trades amounting to 25,938 shares.

GO plc moved 1.6% higher to the €2.52 level on muted activity.

GO’s IT services & digital infrastructure subsidiary BMIT Technologies plc moved 0.7% higher to the €0.282 level across two deals totalling 29,000 shares. Today, BMIT announced that its Board of Directors is scheduled to meet on Tuesday 10 March 2026 to consider the approval of the financial statements for the year ended 31 December 2025. The Board will also consider the declaration of a final dividend.

Hili Properties plc increased by 0.7% to the €0.272 level as 167,413 shares changed hands.

Malta Properties Company plc rose by 2.6% to the €0.40 level over eight trades amounting to 62,533 shares.

Quinco Holdings plc increased by 3.9% to the €0.94 level across three trades totalling 5,572 shares.

Simonds Farsons Cisk plc surged by 11.2% to the €5.45 level albeit over trivial volumes.

On the other hand, Malita Investments plc shed 2.5% to the €0.39 level on a single deal of 13,487 shares.

Meanwhile, M&Z plc traded flat at the €0.58 level as 49,231 shares changed hands. Today, M&Z announced that on 16 and 20 February it bough an aggregate of 120,000 of its own shares at €0.58 per share.

Bank of Valletta plc closed unchanged at the €2.06 level over nine trades amounting to 35,060 shares.

The RF MGS Index gained 0.07% to 911.1 points as sovereign bond yields continued to decline. Data released today showed that seasonally adjusted factory orders in the US fell by 0.7% partially reversing a 2.7% gain in the previous month. The decline was larger than expected as a decrease in orders for non-durable goods outweighed the higher orders for computers and electronic parts.

 

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.