db Group's owners, the Debono family, have good reason to smile as 2025 enters its final quarter, with two pieces of good news setting the company up to maintain its trajectory of blockbuster growth.
In the space of just a few days db Group received clearance to proceed with a €60 million bond issue as well as a recommendation for the planning approval of its bid to add several storeys to the two residential towers forming part of the City Centre project.
Units at the residential towers, known as The Ora Residences, have been in strong demand, with the company telling WhosWho.mt that the 82 units included in the new floors, if approved, are "uniquely positioned to be swiftly taken up."
Meanwhile, the newly approved bond programme will be executed in two tranches over the next 12 months, with the first, amounting to €33 million, opening tomorrow 7th October.
The initial offer of the unsecured bonds maturing in 2031, carrying a coupon rate of 5.2 per cent, will be extended to around 1,700 existing bondholders and institutional investors.
The company said the new bond issues will strengthen its cash position and fund ongoing and upcoming domestic and international investments.
The Base Prospectus and Final Terms are available on the company’s website here.
Latest financial performance and company updates
According to db Group’s audited accounts for the year ending March 2025, the group’s Net Asset Value increased by 15 per cent, from €211 million to €241 million. Adjusted EBITDA rose by a similar 15 per cent to €35.8 million, while net profit from operations increased by 30 per cent to €18.6 million. The group’s long-term asset base reached €591 million.
In recent months, db Group has expanded internationally through its London-based investment arm, SDH Capital.
The group opened its Japanese restaurant Aki in London in September and, through a joint venture with RAK Hospitality Holding, announced plans for the Hard Rock Hotel and Residences Ras Al Khaimah in the United Arab Emirates (UAE).
The project, scheduled for completion in 2028, will include around 300 rooms and 400 branded residences on Marjan Beach.
Locally, work continues on the db City Centre project at St George’s Bay, which will include the Hard Rock Hotel Malta, St George’s Mall and ORA Residences.
Group CEO Robert Debono said the company’s performance “confirms the strength of our business model” and underlined db Group’s commitment to “disciplined financial management and long-term value creation.”
