Communications company GO has registered an all-time high revenue of €235.9 million, an increase of 9.9% over 2022, the company said in a statement Thursday..

Earnings before interest, taxes, depreciation, and amortization amounted to €88 million, after accounting for €3 million of one-time expenses.

GO Telecoms achieved total revenues of €139.4 million, an increase of €10.6 million or 8.2% over 2022. The strong revenue growth was driven by growth in fixed and mobile subscribers, higher activity levels in international wholesale and sale of mobile handsets and bespoke technical solutions, the company said. 

BMITT registered total revenues of €28.7 million, an increase of 10.1% over 2022. The company consolidated its market-leading position in data centre operations and registered strong revenue growth from the provision of cloud and managed services as well as from the sale of hardware and software licences.

Cablenet Communications Systems p.l.c., a quad play telecoms operator in Cyprus, registered another year of double-digit growth in revenues, which amounted to €74.4 million, 16.2% higher compared to 2022.  

Group profit for the year amounted to €15.5 million, an increase of €3.3 million or 27.1% compared to 2022. 

GO’s chief executive officer Nikhil Patil described 2023 as a transformational year for bringing the company's purpose of driving a digital Malta to life.

"We have been firing all cylinders to deliver record results... We have transformed BMIT into Malta's first digital infrastructure company, continued investing in networks, technology, and startups, driving GO to become the fastest-growing communications company in Malta in 2023,” he said. 

GO chairman, Lassaad Ben Dhiab announced that based on this performance, the board is recommending a final dividend of 5c per share, in addition to the interim dividend of 7c per share paid in August.

The chairman said: "2023 brought with it a palpable energy and renewed hope among the business community. GO has once again proved its ability to turn challenges into breakthroughs, to invest in start-up companies that complement our core business, and to create opportunities for growth and diversification".

He said that to date, more than 305,000 homes, or 81.2% of households, are passed with the fastest true fibre technology available on the market. A total of 67,000 of these were passed in 2023 alone.

By the end of this year, we would have achieved nationwide coverage for both true fibre and 5G technology, he said.