BMIT announces 2021 financial results

Leading digital services provider BMIT Technologies plc reported another set of strong results for 2021. Despite the challenges brought about by the pandemic realities, the company results keep showing a positive performance.

These results, as approved by the board of directors, have been announced in a company announcement with a recommendation to distribute annual dividends of just over €5 million (€5,083,775) for the financial year ending 2021, almost €0.025 per share (€0.02497).

BMIT Technologies also published its 2021 financial results, showing a year-on-year increase of 5.5% in revenues to €25.3 million, with the main drivers for this growth being an increase in demand for cloud and managed IT services.  EBITDA amounted to €10.7 million, with operating profit surging by almost 6% to €8.4 million.

“Performance in 2021 has shown that the extraordinary global circumstances that unfolded during the year,  did not  distract us from focusing on our vison for long-term growth that will allow us to deliver healthy returns to our shareholders”, said Nikhil Patil, Chairman of BMIT Technologies plc. “This year’s recommended dividend to shareholders is in line with our commitment to investors during the IPO. Our sustained investment, coupled with a strategic focus on key growth areas gives us the confidence to create long-term value for our shareholders,” added Mr Patil.

“We are re-inventing the way of doing business by taking advantage of our legacy and leveraging our strength, to develop and build new capabilities which will allows us to engage different technologies, to power client business and to offer a simplified solution to business problems. This will result in value to clients and also to our shareholders”, added Ing Christian Sammut, BMIT Technologies’ CEO.

The final dividend for the year ended 31st December 2021 will be paid on the 26^th May 2022 to all shareholders who are on the shareholders’ register as at Friday 22^nd April 2022. The Annual General Meeting will be held remotely on Tuesday 24^th May 2022.

BMIT Technologies’ purpose is to power businesses to achieve their desired outcomes through engaging technology. BMIT Technologies has a clear objective to deliver technological solutions in a straightforward manner, through a team of passionate people who understand technology yet are able to deliver it in a simplified way.  We tackle each need with our expertise in technology, business strategy and innovation, by developing intelligent, secure infrastructure solutions and identifying opportunities to enhance business potential through the application of innovative technologies.

More info at www.bmit.com.mt