BMIT Technologies plc has reported good results for 2020 up to the end of September, with both revenue and earnings up when compared to the same period last year, even though they do not match the company’s projections before the pandemic.

In an announcement posted to the Malta Stock Exchange today, the data centre, cloud and managed service provider said that it remained resilient and continued to produce good results despite the current “unprecedented and challenging times”.

The publicly listed company said it generated revenues of €17.9 million up to the end of Q3 2020, a growth of 6.1 per cent over the comparative period last year.

This positive performance was sustained despite the challenges brought about by the COVID-19 pandemic, resulting in an EBITDA of €7.9 million up to the end of this same quarter, an increase of 4% over last year.

These figures are nonetheless a step down from the revenues for the 2020 financial year projecte early last during the company’s IPO, which was expected to amount to €24.6 million. EBITDA was estimated to be €11.4 million.

BMIT also noted that despite the prevailing extraordinary times, it maintained a strong cash position whilst honouring its commitments towards its stakeholders, including the timely payment of a dividend to shareholders earlier this year.

BMIT said that whilst all major investments, including the Żejtun Data Centre development, are being re-evaluated from a strategic perspective, in view of the realities brought about by the pandemic, several consolidation and growth opportunities are being explored, in order to achieve further growth in the future. Such initiatives include the consideration of deployment of new products and services, including a further diversification of the company's solutions portfolio as well as assessing the possibility of tapping into new markets.