Mapfre Middlesea registers higher profits, increases dividend

The MSE Equity Price Index snapped a five-day losing streak as it rose by 0.33% to 3,905.159 points. The gains in BOV and Mapfre Middlesea outweighed the declines in APS, BMIT, Malita, and MaltaPost. Meanwhile, three other equities closed unchanged as today’s trading activity in local equities amounted to €0.11 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 2.0% higher to an eight-year high of €2.02 across six deals amounting to 15,133 shares. BOV will publish its 2024 annual results tomorrow.

Meanwhile, BOV’s investment associate Mapfre Middlesea plc rose by 3.9% to a two year high of €1.60, albeit over trivial volumes. Following the close of trading, Mapfre Middlesea published its Annual Report and Financial Statements for the financial year ended 31 December 2024. Net income from insurance and investments amounted to €29.6 million which is 5.8% higher than the €28.0 million in the previous year. Overall, the Group generated pre-tax profits of €24.8 million compared to 24.0 million in 2023. After accounting for a tax charge of €6.8 million and non-controlling interests of €5.5 million, the net profit attributable to shareholders amounted to €12.5 million (2023: €11.3 million) which translates into an annualised return on average shareholders’ funds of 13.6%. As at 31 December 2024, Mapfre Middlesea had a net asset value per share of €1.047 (31 December 2023 restated: €0.958). The Directors are recommending a net dividend of €4.8 million, equivalent to €0.052174 per share, which is 6.7% higher than the dividend paid out last year. This is payable on 26 May 2025 to all shareholders as at the close of trading on 8 May 2025 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on 30 April 2025.

On the other hand, APS Bank plc shed 1.6% to the €0.60 level over six deals amounting to 5,242 shares. The Directors of APS recommended 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.

BMIT Technologies plc fell by 2.9% to the €0.33 level across three trades amounting to 68,000 shares. BMIT shareholders as at close of trading on Thursday 15 May 2025 will be entitled to a net dividend per share of €0.0189. Shareholders will have the option to receive the dividend either in cash or in new ordinary shares at an attribution price of €0.319 per share.

Malita Investments plc slumped by 5.7% to the €0.50 level as 66,000 shares changed hands.

MaltaPost plc dropped by 4.3% to the €0.44 level on two deals amounting to 20,497 shares.

Meanwhile, GO plc held the €2.66 level on muted activity.

HSBC Bank Malta plc traded flat at the €1.54 level as 5,295 shares changed hands. The Board of Directors recently recommended a final net dividend of €0.078 per share. The dividend will be paid on 20 May 2025 to all shareholders as at close of trading on 9 April 2025 subject to approval by the Annual General Meeting scheduled for 13 May 2025.

The ordinary shares of RS2 plc closed unchanged at the €0.39 level on a single trade of 7,509 shares.

The RF MGS Index rose by 0.05% to 904.205 points as the economy in the euro area continues to show signs of recovery as during the last quarter of 2024, housing prices in Germany increased year-over-year for the first time since the first quarter of 2022. Similarly in the US, house prices rose by 4.7% year-over-year in January up from 4.5% in December. Furthermore, seasonally adjusted home sales rose by 1.8% in February rebounding from a revised 6.9% drop in the previous month. Nonetheless, the continued improvement of the housing sector is uncertain going forward due to the recent increase, and volatility of borrowing rates.

 

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.