Luxury Living Technologies Limited, primarily active in the solar energy sector, reported a loss after tax of €65,000 for the financial year ended June 2025, an improvement over the previous year’s €139,215 loss.
The company was founded by the late Jean Paul Busuttil, who was fatally shot in Bidnija in June following an alleged road rage altercation with a neighbour.
Following his death, his 22-year-old daughter, Sophie-Ann Busuttil, was appointed Director of Luxury Living Technologies, and also holds various directorships across the group’s subsidiaries.
The group primarily operated in renewable energy solution in domestic, industrial and agricultural locations, but has also diversified into hospitality, manufacturing, and more recently the import and distribution of food and beverage products.
Financial performance and contributing factors
In its latest financial results, the group attributed the variance between projected and actual 2025 results to export sales that did not materialise and renewable energy projects delayed in completion. It also cited lower revenue from the hospitality sector, after several rooms at its Rose Hostel in St Julian’s were rendered unusable following an accident at a neighbouring construction site.
During the year, the company also entered discussions with the Office of the Commissioner for Revenue to settle outstanding indirect tax liabilities through a repayment schedule, which will be reflected under non-current liabilities.
Additionally, a €1.96 million precautionary garnishee order related to litigation with Mediterranean Aviation Company Limited (Medavia) has been resolved, although the funds remain frozen pending release.
Revenue and operations
Luxury Living Technologies reported turnover of €2.64 million, slightly up from €2.58 million in 2024.
However, gross profit fell to €1.47 million from €2.09 million the previous year, with the profit margin narrowing to 55 per cent from 81 per cent. Administrative expenses decreased significantly to €460,000, from €990,000 in 2024, attributed to a “review of operational processes.”
Operating profit stood at €1.01 million, compared to €1.09 million the year before.
The group also noted that its €750,000 sinking fund contribution, a fund established to gradually retire debt, was not made during the period, though the guarantor began monthly payments toward the fund from July 2025.
Business diversification and outlook
Luxury Living has continued to diversify its business beyond renewable energy, venturing into hospitality, manufacturing, and food and beverage imports and distribution.
In 2025, the company completed several new solar projects, increasing electricity generation and related revenues. It also reached an agreement with landowners at the Kafe Farm solar project last October, which is expected to generate substantial income going forward.
Looking ahead, the group plans to strengthen its core renewable energy operations by investing further in photovoltaic farms despite ongoing regulatory complexities. Its hospitality arm continues to perform well, with occupancy rates above the sector average.
The company also said that it "continues to grow its manufactured products and continues to work to tap into the export market by expanding its product base." It also said that it has entered into the import business of food and beverages, acquiring an agency of three large manufacturers and distributors of wines, spirits, liqueurs and syrups.
Overall, Luxury Living Technologies expects 2026 to yield healthier returns as it consolidates growth across its diversified portfolio.
Luxury Living Finance plc is the financing vehicle for Luxury Living Technologies. The latter is the guarantor of the public company, which has €8 million in outstanding bonds listed on the Malta Stock Exchange’s Prospects Multilateral Trading Facility, due to mature in 2028.
