Last Updated on Thursday, 23 May, 2024 at 9:25 am by Andre Camilleri
Hili Ventures is expecting to achieve revenues of over €1 billion in 2024 for the first time since it was incorporated just over a decade ago.
This was announced as the group published its consolidated financial statements for the year ended 2023, in which it registered revenues just short of the billion-euro mark at €987 million, marking an increase of 26% over 2022.
Chairman Archie Bethel said, “Last year was a record year for the group, including a major acquisition in Poland, 11 new McDonald’s restaurants across Europe and more than 1,300 people added to the team. The results speak for themselves, and we are even more motivated to deliver on the many ambitious projects in our pipeline this year. We pledge to keep delivering real value to our shareholders, while being a good neighbour in the communities in which we operate.”
Chief Executive Officer Melo Hili said, “It is important to recognise that this is ultimately the result of 12,000 people working in diverse teams and industries, across 10 countries, with a common set of values. Seeing everybody’s work pay off, especially after the challenges of the past few years, strengthens our resolve to keep driving market leadership in each industry we operate in.”
Hili Ventures holds a diverse portfolio of businesses and is best known for its major pillar Premier Capital p.l.c., which is the developmental licensee for McDonald’s in Malta, Estonia, Greece, Latvia, Lithuania and Romania, with 185 restaurants across these markets.
The group’s portfolio also includes 1923 Investments p.l.c., which owns iSpot Poland Sp. Z o.o., Poland’s largest Apple Premium Reseller business which has a network of 47 stores and service points across major Polish cities.
All of the group’s direct operating subsidiaries, including Hili Properties p.l.c. and Breakwater Investments Limited (previously known as HV Marine), registered growth in varying degrees, with group EBITDA reaching €125 million, compared to €99 million in 2022. Setting its sights on 2024, the group is eyeing further growth in each industry and building on previous success by expanding its network and internationalising its service portfolio further. It is also awaiting planning permission for its landmark Six Senses Comino Hotel, an eco-luxury destination which will be built on a smaller footprint than the current development. HV Hospitality Ltd, the group’s hospitality arm, has also committed to restoring substantial areas of land around the site by planting more than 55,000 endemic trees, shrubs and plants.
