Mizzi Organisation has reported a pre-tax profit of €8.6 million, up from the €8.2 million posted in 2023.

This was posted in the organisation’s Annual Report for the financial year ended 31st December 2024.

Mizzi Organisation has a diverse presence across the retail, automotive, mechanical and engineering contracting, real estate, hospitality, and beverage industries. 

Consolidated Holdings Limited, GSD Marketing Limited, Mizzi Organisation Limited, The General Soft Drinks Company Limited and Mizzi EV Limited, form the Mizzi Organisation. 

The organisation reported a gross profit of €63.8 million, a modest increase from €60.8 million in 2024. However, this translated to an operating profit of €11.5 million, reflecting a decline from the €14 million recorded in 2024, “before considering gains from changes in fair value of property and impairment charges.”

The group also recorded gains of €1.4 million, driven by the fair value adjustment of investment property, a significant increase compared to €341,000 in 2023.

Net finance costs rose to €6.4 million in 2024, up from €5.9 million in 2023. Meanwhile, combined investment income and the group’s share of profits from associated companies totalled €846,000, a decline from €1.8 million in the previous year.

The group recorded a total tax charge, including deferred taxation, of €1.1 million in 2024, down from €2.4 million in the previous year. This resulted in a combined profit for the year attributable to the issuer and its guarantors of €7.5 million, compared to €5.8 million in 2023.

The organisation reported other comprehensive income of €7.1 million for the year, a notable improvement from the €0.7 million loss recorded in 2023. This result was primarily driven by the organisation’s share of other comprehensive income from a former associate, relating to a revaluation surplus on land and buildings.

The directors have recommended the payment of a €40,000 dividend, with retained earnings of €64,394 to be carried forward to the next financial year.

Looking ahead to 2025, the organisation anticipates that its automotive division will stabilise at more typical levels, following the exceptionally strong performance in 2023 driven by post-COVID sales recovery. The automotive division is also introducing new measures aimed at enhancing operational efficiency.

With regards to its Arkadia food stores, the group expects to maintain revenues registered in 2024. In light of the ‘significant losses’ sustained by the Valletta Market in 2023, the organisation will continue to review its business model and explore emerging opportunities for revitalisation.

The group is confident that the anticipated rise in visitor arrivals to Gozo will drive increased foot traffic to the Arkadia Commercial Centre.

The board of Directors at Mizzi Organisation Finance plc reported that they, along with their guarantors, are ‘comfortable’ with the performance of the companies within the group's portfolio.