GO plc celebrates 50 years of impact with strong 2024 performance
GO plc today held its Annual General Meeting, marking a significant milestone: 50 years of service to Malta as the country’s longest-standing communications provider. The meeting celebrated GO’s continued transformation into a digital and sustainability leader, while reaffirming the company’s commitment to shareholder value and national progress.
Reflecting on 2024, GO announced record revenues of €244.9 million, up 3.8% year-on-year, and a stable net profit of €15.7 million. The Company registered solid customer growth in 2024, enabling it to reclaim its position as Malta’s leading broadband provider and further strengthen its reputation as the country’s fastest-growing mobile network.
“GO’s story is the story of Malta. From voice to fibre, mobile, cloud and green energy, we are proud to have evolved into a catalyst for a digital, sustainable Malta,” said Nikhil Patil, Chief Executive Officer of GO plc. “And as we enter our next 50 years, our mission remains clear: to drive a digital Malta where no one is left behind.”
The AGM also highlighted GO’s strategic transformation. GO has nearly completed its nationwide True Fibre rollout and moved into its new net-zero campus in Żejtun—reinforcing the company’s environmental commitments. Investments in subsidiaries such as Cablenet, BMIT Technologies, AQS Med, Cybersift, and Klikk continued to bear fruit, expanding GO’s role in the broader digital and energy ecosystem.
“We’re not just laying cables or building networks. We’re delivering inclusion, opportunity, and a greener future,” added Patil. “From energy-efficient solutions with GO ENERGI to digital services that reach beyond connectivity, we’re unlocking more value from every digital euro our customers spend.”
Reuben Attard, GO’s Chief Finance and Chief People Officer, presented the Group’s financial performance. Operating costs increased in line with revenue growth, reflecting strong customer activity and investments. Return on equity stood at a robust 16.9%, placing GO among Malta’s top-performing listed companies.
“GO’s disciplined approach to investment, cost control and innovation continues to deliver long-term shareholder value,” Attard stated. “We generated €64 million in operational cash flow and returned €28 million to shareholders. This year’s dividend of €0.28 per share brings our seven-year return total to €154 million—more than half our current market capitalisation.”
GO’s future outlook includes expanding its role in Malta’s digital economy by growing its share of what it calls the “Digital Spend”—the total consumer investment in connectivity, digital services, and energy.
“With our strong brand, deep market presence, and talented team, we are ideally placed to become the trusted partner in every part of our customers’ digital lives,” said Patil.
The AGM reaffirmed GO’s long-term strategy: strengthening its core telecoms business while expanding into adjacent digital and green sectors. With a healthy capital structure and a clear vision, GO remains firmly on track to continue driving innovation, delivering shareholder returns, and creating meaningful impact for the next 50 years and beyond.
