Hailey Borg
Calamatta Cuschieri Moneybase has significantly raised its financial outlook for the year after delivering exceptional results in the first half of 2024.
Revenue for the January to June period surged by 20.4%, reaching €8.71 million, driven by stronger-than-anticipated performance across most of its business segments.
The company’s EBITDA climbed by 75.3% to €3.01 million, while profit before tax soared by 233.9% to €2.18 million.
These substantial gains in revenue, EBITDA, and profit before tax are particularly impressive given that 2023 was already a record-breaking year for the financial services firm.
In light of this robust performance, Calamatta Cuschieri Moneybase has adjusted its year-end projections. The forecast for revenue has been raised from €15.6 million to €17.7 million, while the EBITDA target has been increased from €4.3 million to €5.6 million. Profit before tax is now expected to reach €4.0 million, up from the initial estimate of €2.6 million.
During the first half of the year, Calamatta Cuschieri Moneybase executed several strategic initiatives to optimize operations and improve the customer experience.
A significant achievement was the company’s rebranding from CC Finance Group plc to Calamatta Cuschieri Moneybase plc, reflecting its comprehensive service offerings available through a unified digital platform. This platform enables clients to manage their portfolios, payment accounts, and debit cards seamlessly.
The company also broadened its outreach with new ventures, including the launch of its podcast, ‘Fintalks,’ which aims to educate and engage listeners on contemporary financial trends.
In addition, Calamatta Cuschieri Moneybase was instrumental in founding the Private Equity & Venture Capital Association Malta (PEVCA Malta), reinforcing its dedication to advancing the private equity industry in Malta.
In the investment services sector, the company leveraged strong international market performance and capitalized on profitable opportunities in the fixed-income market.
Calamatta Cuschieri Moneybase also enhanced its service portfolio by partnering with IVALIFE as an Insurance Intermediary, expanding its pension and protection offerings.
Furthermore, the company has received authorisation to open a branch in Milan, Italy, extending its services to high-net-worth clients in the region.
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