BMIT Technologies today announced its financial results for the year ending 31 December 2024, highlighting steady growth and a solid financial performance driven by a strong strategic vision and diversification through the successful integration of new business lines.
The Company reported a substantial year-on-year revenue growth of 17.2%, with
revenue increasing from €28.7 million in 2023 to €33.6 million in 2024. EBITDA also saw a notable improvement, rising by 26.7% to reach €12.7 million. These figures mark the first consolidated results for two key segments: BMIT’s core business, which includes data centre, cloud, cyber resilience, and managed services, and its new digital infrastructure segment, which includes mobile network towers operations.
Christian Sammut, CEO of BMIT Technologies, described 2024 as “a defining year for BMIT”, not only in achieving a strong revenue performance but also in “strengthening its position as a trusted partner in the fields of IT, digital infrastructure, cloud and managed services, cyber resilience and security”.
“Despite a challenging environment, we demonstrated agility, adaptability, and a clear strategic vision, ensuring we remain a trusted partner to our clients. Our success is built on a disciplined financial strategy, continuous investment in innovation, infrastructure, and talent, and most importantly, our unwavering focus on customer needs. We remain committed to enhancing our portfolio, deepening our customer relationships, and delivering long-term value for our stakeholders,” Ing. Sammut said.
Commenting on the results, Nikhil Patil, Chairman of the Board said: “2024 has been a very positive year for BMIT Technologies, reflecting not only a strong financial performance but also the collective commitment to its strategy and expansion of its service portfolio. BMIT has diversified its revenue streams, investing in digital infrastructure, and enhancing its core business.”
“We have laid the groundwork for sustained growth by successfully launching a digital infrastructure segment, starting from the acquisition of GO’s passive mobile infrastructure. This journey of transformation is not only about achieving short-term gains, but building a resilient, scalable, and future-ready business. As we continue to anticipate and respond to market demands, we are confident in our ability to deliver long-term value to our shareholders and customers alike,” added Mr Patil.
Ing. Sammut stated that BMIT remains focused on further strengthening its core business while expanding its digital infrastructure capabilities. It will continue to invest in innovative technologies, building resilience, and seizing new opportunities to remain at the forefront of Malta’s digital landscape.
Profit before tax amounted to €7.2 million compared to €7.7 million in 2023. Profit after tax amounted to €4.2 million, compared to €4.7 million in the previous year, resulting in earnings per share of €0.020.
