MIA pre-tax profit up by 11.4% in Q1
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
The MSE Equity Price Index fell by 0.66% to 3,984.7 points driven by the declines in Malita, PG, HSBC, BMIT, GO, and BOV. Meanwhile, three equities closed unchanged as today’s total trading activity amounted to €0.12 million. Download today’s Equity Market Summary.
Malta International Airport plc traded flat at the €6.20 level across four trades totalling 2,390 shares. Following the close of trading, MIA published the financial results for the first three months of 2026. Revenue amounted to €32.5 million, which is 11.0% higher than the comparable figure of €29.2 million in 2025. The income growth largely reflects the higher level of passenger traffic, which surged by 15.4% to 2.07 million passengers. Operating costs excluding depreciation increased by 2.4% to €12.6 million. MIA explained that this reflected the airport’s busier operations and the recruitment of new talent. Since income increased at a faster pace than costs, EBITDA surged by 17.2% to €19.8 million compared to €16.9 million in the same period last year.
The profit before tax rose by 11.4% to €14.6 million compared to €13.1 million in the first quarter of 2025. Overall, MIA generated a net profit of €9.31 million in the first quarter of the year compared to €8.47 million in the comparable period in 2025. MIA explained that capital expenditure for the quarter amounted to €11.3 million, principally related to the company’s five-year investment programme, including the expansion of the terminal towards the East and the construction of a new business centre that will house a business hotel.
APS Bank plc closed unchanged at the €0.55 level across eighteen trades totalling 62,663 shares.
Hili Properties plc retained the €0.27 level on a single deal of 4,000 shares.
Meanwhile, Malita Investments plc fell by 6.9% to the €0.35 level on a single trade of 1,000 shares.
PG plc shed 3.7% to the €1.62 level across two trades totalling 4,000 shares.
HSBC Bank Malta plc fell by 2.1% to the €1.42 level on three trades amounting to 35,000 shares.
BMIT Technologies plc slipped by 1.5% to the €0.26 level across three trades totalling 36,000 shares.
GO plc eased by 0.8% to the €2.48 level on two deals amounting to 123 shares. GO is holding its Annual General Meeting tomorrow.
Bank of Valletta plc declined by 0.5% to the €2.03 level across two trades totalling 580 shares. Last Friday, BOV published a Base Prospectus for a €650 million Euro Medium Term Note Programme following approval by the Central Bank of Ireland. Today, BOV announced its intention to issue up to €300 million Callable Senior Preferred Notes under the programme, with a maturity of 6 years, callable after 5 years.
The RF MGS Index fell by 0.55% to an almost two-year low of 885.296 points as the German 10-year yield hovered around 3.2% which is the highest level in around 15 years. Furthermore, the US 10-year Treasury yield climbed to around 4.63%, the highest level since January 2025. Later in the day, yields dropped slightly as developments in the situation in the Middle East indicated that the US proposed a temporary waiver on oil sanctions pending a final agreement, which Iran seems likely to accept.
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.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which 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. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which 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. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.