BMIT Technologies reports strong financial results for 2022 despite challenging economic environment

Last Updated on Friday, 12 May, 2023 at 1:52 pm by Andre Camilleri

Leading cloud, infrastructure and tech advisory services provider BMIT Technologies plc reported its consolidated accounts for the financial year 2022. Despite a challenging environment, BMIT Technologies demonstrated resilience and achieved strong financial results.

BMIT’s results show a year-on-year increase of almost 2% in revenues, to €25.8 million, and earnings before tax, depreciation and amortisation (EBITDA) of €10.7 million.

“Our performance in 2022 is a result of the strategy we have embarked upon over these last couple of years,” said Christian Sammut, CEO of BMIT Technologies plc. “We navigated a challenging economic environment and made many changes in how we operate and enhanced our portfolio to achieve healthy growth and results.”

BMIT Technologies has been on a journey of transformation, meeting the ever-changing IT demands of businesses and diversifying its product portfolio. The journey began in 2022, and the company is now seeing the results of its efforts.

“Our diversification of portfolio, new services in cybersecurity and modern work, and tech advisory are the foundations of future growth,” Sammut added. “We will continue to build on the company’s core infrastructure services and expertise to ensure we remain at the forefront of our industry.”

BMIT Technologies has invested heavily in developing new tech resilience solutions. They have also increased the number of cybersecurity services we offer as these are in high demand due to the increase in cyber threats. The company’s modern work and tech advisory services are also in demand as businesses seek to adapt to the changing work environment.

“We are committed to supporting our clients in their digital transformation journey, and we are pleased to see the positive results of our efforts,” said Sammut. “Our team is focused on driving growth and delivering value to our shareholders.”

The financial results for 2022 were approved by the board of directors and confirmed at this year’s Annual General Meeting, held on 10th May 2023. The board has also approved a dividend of €5m, or 2c46 per share.

The final dividend for the year ended 31st December 2022 will be paid on the 12th May 2023.

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