Hili Ventures Ltd Group is forecasting revenue of €503.8 million for this year as compared to €490.567 registered in 2019, according to a financial analysis summary posted on its website.

The Directors said it is premature to comment on the consequences of the events that are still unfolding and they cannot make an estimate of the financial effect such events will have on the Group. “These events are expected to have an impact on the short-term performance and financial position of the Group and its subsidiaries. It is unlikely that business lost throughout the disruption, and the eventual recovery process, will be regained by end of year and, therefore, it is expected that the initially set targets for 2020 will not be fully achieved,” they said.

Through Premier Capital plc, Hili Ventures is involved in the operations of McDonald’s restaurants in Estonia, Greece, Latvia, Lithuania, Romania and Malta.

Another subsidiary, 1923 Investments plc, sells and distributes Apple products as an Apple Premium Reseller in Poland and Hungary. Its operations also include the sale, maintenance and servicing of information technology solutions, security systems and the provision of electronic payment solutions; transport and logistics in Malta and Poland as well as the provision of ship-to-ship transfer services.

Hili Properties plc is the parent company of the property division of Hili Ventures and owns and manages a property portfolio comprising commercial and retail property in Europe.

Hili Ventures has three other subsidiaries.

Motherwell Bridge Industries Ltd provides engineering services related to port equipment and crane assembly and, through the acquisition of Techniplus SA in 2016, it is also involved in providing maintenance services of port equipment and crane assembly in Morocco and neighbouring countries.

Cobalt Leasing Ltd was established in the UK in February 2019 with its main objective being the operation of a container leasing business and Hospitality Ltd was registered in Malta in April last year with the aim of running the hospitality business of Hili Ventures. It is the holding entity of Kemmuna Ltd, which operated the hotel and bungalows on the island of Comino.

Hili Ventures is projecting a drop in revenue from restaurant operations, falling from €341.3 million in 2019 to €328.4 million this year. Rental operations are also likely to see revenue drop from €6.5 million to €5.2 million.

In contrast, it is expecting revenue from the following areas to grow: sale of Apple products from €101.5 million to €107.4 million; IT solutions and security from €17 million to €25.1 million; logistics and transports from €17.3 million to €28.1 million; and engineering services from €6.9 million to €9.4 million.