‘This is one business built on two pillars’ – BMIT CEO

BMIT Technologies CEO Christian Sammut has described the group as “one business built on two pillars”, as the technology company continues to shift towards cloud and managed IT services while drawing on its underlying digital infrastructure.

The comments come as BMIT Technologies reported revenue of €20.2 million for the first six months of 2026, representing a 10.3 per cent increase from €18.3 million during the same period last year.

Growth was primarily driven by the group’s Data Centre and Managed IT Services segment, particularly cloud, managed and professional services, as well as the contribution from 56Bit Limited.

Cloud and managed services now account for close to half of group revenue, compared with 41 per cent during the corresponding period in 2025.

“This is one business built on two pillars,” Inġ. Sammut said.

“We own digital infrastructure in Malta, the data centres we have operated for years and the mobile network towers we invested in more recently. We have also invested in Malta Properties Company plc. On top of that infrastructure, we run managed IT services.”

He explained that customers are increasingly moving away from operating their own infrastructure and seeking external support for areas such as cloud, cybersecurity and regulatory compliance.

“Customers are moving off infrastructure they operate themselves and they want cloud, security and compliance handled properly. We can do that because we own the foundation, not just the service layer,” he said.

However, the changing revenue mix also comes with a different cost structure.

While revenue increased during the six-month period, profit before tax declined to €3.1 million from €3.4 million a year earlier. EBITDA stood at €5.8 million, while operating profit amounted to €3.8 million and profit after tax reached €1.7 million.

Operating costs before depreciation and amortisation increased to €14.4 million from €12.1 million, reflecting higher activity, the first full-period contribution from 56Bit Limited and continued investment in the group’s service platform.

BMIT said profitability was also affected by higher direct costs associated with cloud and managed services and the financing of strategic investments completed during 2025.

Inġ. Sammut said the company has spent the past two years developing the capabilities required to support its strategy.

“We have spent the past two years building the capability to do this properly, in the platform, in the team and in our majority investment in 56Bit,” he said.

“That is where the investment has gone, and it is why customers are giving us more of the work.”

Alongside its managed IT operations, BMIT’s Digital Infrastructure pillar includes its data centres, approximately 300 passive mobile network tower sites and a 49 per cent stake in Malta Properties Company plc.

During the first half of 2026, the group also recognised €0.6 million as its share of profit from associate investments.

Meanwhile, works on BMIT’s new office facilities in Żejtun are expected to commence during the second half of 2026.

For the 2025 financial year, the group declared a net dividend of €0.018 per share, amounting to €4 million, which was paid in June through either cash or a scrip dividend option.