Mercury shareholder Joseph Portelli has pledged to inject a further €18 million into his company, which declared a €14.5 million loss last year.

In its financial statements for 2025, Mercury Towers Ltd posted a €14.5 million loss, up from €12.7 the previous year.

The loss was mainly due to €9.5 million in the depreciation of assets, up from €3.9 million in 2024, and €8.7 million in finance costs, up from €6.5 million in 2024.

Its retained losses now stand at €25.4 million, while total equity remained positive at €66.5 million.

Mr Portelli injected €15 million into Mercury in 2025 to offset the company's losses and he has committed himself to increase his risk capital with a further capital injection of €18 million this year.

These capital injections, intended to strengthen and support Mercury’s financial position, were noted by the directors when assessing the company’s status as a going concern.

However, Mercury expects revenue to significantly increase this year.

It pointed out that while in 2025 it put to use all the commercial areas available to it – including the Museum of Illusions and the Cabana, Luciano’s and Radio Rooftop hotel outlets – some of these projects only launched towards the second half of the year.

As a result, while the costs in its financial statements comprise a full year of operations, the captured revenue isn’t that of a full year.

“Thus, revenues for the year 2026 are expected to increase substantially while operating costs are expected to remain stable,” it said.

Meanwhile, Mercury only started operating the Planet Play entertainment arena in January 2026 and expects to lease the Pavilion to third parties later this year.

Mercury’s revenue rose sharply to €25 million in 2025, up from €9.9 million the previous year.

Excluding property sales – which are not expected to generate further revenue now that all units have been sold – the company generated €20.2 million in revenue.