€1.50
THURSDAY 29 JUNE 2023 • ISSUE 212
WWW.BUSINESSTODAY.COM.MT
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Stivala Group with real estate
portfolio worth €354 million,
€26.3 million profit in 2022
AI law conference
highlights need
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MDB, three
major banks
sign strategic
agreements
PAUL COCKS
AS at 31 December 2022, Stivala Group
- spearheaded in part by Michael Stiva-
la, president of the Malta Developers
Association - owned a real estate port-
folio with a carrying value of €354.3 mil-
lion.
In 2022, the Group reported an in-
crease in profit after tax of €13.9 million
to €26.3 million (FY2021:€12.4 million),
with EBITDA more than doubling to
€21.1 million (FY2021: €10.4 million).
And for 2023, the Group is projecting
to generate revenue amounting to €37.2
million, an increase of €8.4 million
(+29%) when compared to FY2022.
According to the Group's Financial
Analysis Summary published this week,
this increase in revenue is a reflection
of an improvement in performance
expected from all operational sectors:
hospitality, commercial leasing and res-
idential rental sectors.
In addition, the Group is anticipating
that it will sell all remaining residential
units held as inventory by Carmelo Sti-
vala Group Ltd.
STAR PERFORMER MSE FTSE 100
EUR EXCHANGE RATES
Trading Date: 28 June 2023
Number of Trades: 106
Turnover: € 1,780,550.53
MSE TRX Index: 7,738.21
Change: -0.765%
Name: 3.75% MCY SEC
MT0002191204 - Currency €
Last Traded: 28 June 2023
Price 98.000
Change +3.000
US Dollar 1.0388
British Pound: 0.86477
Japanese Yen: 144.59
Australian Dollar: 1.5451
Swiss Franc: 0.98700
7,587.67
75.67
7,592.39 / 7,512.00
Value
Net variation
High / Low
+1.01%
Michael Stivala, president of the Malta Developers Association, is one of three executive directors of Stivala Group which is
developing the 15-storey ST Tower in Ta' Xbiex
