VBL Group has announced its Interim Directors' Report and Interim (unaudited) Consolidated Financial Statements for the period up to 30 June 2025. The half yearly financial report confirms the Company's continued year-on-year growth, in line with earlier projections. The recently published results reaffirm the improving operational performance and strong foundations of the Company, along with the successful implementation of its ongoing regeneration and renovation development projects in Valletta.
VBL Group - the Valletta focused investment and property company - has released its interim financial results for the period from 1st January 2025 to 30th June 2025. The 1H25 interim report shows continuous improvement in the hospitality operational performance compared to the same period of the previous year, reflecting good operational and market conditions and the Company's overall improving economies of scale.
In the reporting period, VBL Group registered Revenues of €2,128,639, an increase of 25% on the previous year's comparative period (1H24: €1,700,660). The Group's Operational EBITDA for the period amounts to €784,394 (corresponding to a 152% growth, and an increase from €310,794 over the previous year). In the period, VBL has realised an Operational EBITDA margin of 37% (corresponding to a 19% increase from the same period of the previous year). Cost management and cost efficiency remain key priorities of the Group, especially in operational cost and procurement.
VBL Group also reported that it continues the implementation of its development projects along the defined strategic objectives and declared development plans. The implementation of the major renovation and regeneration projects of the current development cycle are considered to be generally on track and within the previously announced timelines and budgets. The Group also reported that the tourism industry performance during the reporting period has been overall favourable and the positive market developments have supported the good performance of the hospitality business line.
In line with the previous announcements made, the Group continues exploring the various available financing and investment opportunities on the local and international markets, with the aim to ensure competitive long-term financing options for the preparation and execution of the currently owned assets, which are not yet developed and being part of the next development cycle. As part of this process, the Company continues to explore and perform a comprehensive evaluation of strategic options and initiatives to unlock and maximise shareholder value going forward.
The Group's mid- and long-term financial projections are currently considered realistic and achievable. A significant positive change in the Group's market and financial performance is expected, as earlier announced, after the completion of the ongoing landmark development, the Silver Horse Block Phase 2 project.