BMIT’s record-breaking year a result of ‘clear strategic vision and disciplined execution’ – CEO

BMIT Technologies plc’s “exceptional” 2024 was the result of “clear strategic vision” and its “disciplined execution,” said CEO Christian Sammut as he addressed shareholders at the company’s AGM.

Mr Sammut attributed the company’s success to a “sharper focus on customer value” and “a continuous effort to put the needs of clients first.”

The publicly listed BMIT is a major data centre, hybrid IT, cyber resilience and digital infrastructure services provider in Malta.

The company posted €33.6 million in revenue, up 17.2 per cent year-on-year, while EBITDA rose 26.7 per cent to €12.7 million. The board has approved a net dividend of €4 million, or €0.0189 per share, with a scrip option.

Alongside the financial performance, BMIT continued to evolve its business model with investments across cloud, digital infrastructure and cyber resilience.

The company consolidated its position in Malta’s digital infrastructure space following the acquisition of passive mobile assets that power one of the country’s largest 5G networks, and also strengthened its multicloud capabilities through a majority stake in AWS-focused 56Bit Limited.

Chairman Nikhil Patil described 2024 as a record-breaking year: “Not only did we deliver exceptional results, but we also undertook a fundamental transformation of our business and our business model.”

BMIT also laid the groundwork for further growth. It expanded its managed services portfolio, added new capabilities in governance and compliance, and deepened its reach in hybrid IT. The company is now the only operator in its sector to make use of all subsea cables currently connecting Malta to international routes, strengthening its resilience and connectivity.

Looking ahead, BMIT said its 2025 priorities will remain focused on execution, capability-building, and sustainable growth. It is exploring opportunities in AI clusters, next-generation data centres, and supporting infrastructure to capitalise on the momentum created by AI. The company is actively exploring adjacent growth areas that complement its digital infrastructure strategy, with a focus on telecommunication infrastructures, emerging technologies and future-ready services.

Mr Patil stressed that BMIT’s long-term growth depends on continued diversification and strategic investment.

“Every country now needs both a data centre strategy and a digital infrastructure strategy. BMIT is positioning itself to be central to both.”