KA Holdings Limited, a Malta-based property development company, is forecasting a net profit of €1.357 million for the year ending 31st December 2026, representing an increase of €281,000 over the amount forecast for 2025.
According to the company’s latest financial sustainability projections, the improved bottom line is being driven by stable rental income across the group’s portfolio, full occupancy at its flagship office developments in Mrieħel, and tighter cost controls.
Revenues for 2026 are projected to reach €2.489 million, up 8.97 per cent year-on-year, with Centris I and Centris II expected to remain fully occupied throughout the period.
The Malta-based property development company owns and manages a portfolio of assets in Mrieħel, Swieqi and Gżira. The Mrieħel properties consist primarily of the Centris I and II office complexes, which continue to underpin the group’s recurring income. Forecasted revenues for 2026 also assume that the Swieqi property will maintain the same level of income as in previous years.
On the cost side, KA Holdings is projecting a further reduction in both direct and administrative expenses. Direct costs are expected to fall to €213,000 in 2026, a decrease of an impressive €41,000 compared to the 2025 forecast, while administrative costs are projected at €150,000, €8,000 lower than the prior year’s projections, contributing to a stronger operating performance.
As a result, EBITDA for 2026 is forecast to amount to €2.125 million, which is €254,000 higher than the EBITDA forecast for 2025.
From a balance sheet perspective, total assets are projected to stand at €42.907 million by the end of 2026. Equity is expected to amount to €25.448 million, while total liabilities are forecast at €17.458 million, pointing to a solid capital structure and a healthy equity buffer.
Cashflow projections also remain positive. The company expects to close 2026 with a cash balance of €1.537 million. During the year, a second contribution of €750,000 is planned to be made to the sinking fund, bringing the fund’s balance to €1.5 million. After accounting for the sinking fund, the final cash balance is projected to be €37,000.
In June 2025, the company posted robust interim financial results for the first six months of 2025, registering a profit after tax of €706,564, representing a 34.88 per cent increase (€246,417) over the same period in 2024. This uptick was primarily driven by the full return to occupancy at its flagship business centres, Centris I and Centris II, as well as profits realised from the sale of its Gżira properties in 2023.
