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€1.50 THURSDAY 29 JUNE 2023 • ISSUE 212 WWW.BUSINESSTODAY.COM.MT PAGE 2 PAGE 5 PAGE 3 Stivala Group with real estate portfolio worth €354 million, €26.3 million profit in 2022 AI law conference highlights need for growth and high-level expertise 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

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