Nicholas Calamatta and Alan Cuschieri report ‘excellent’ results in first half of 2024

Nicholas Calamatta and Alan Cuschieri have good reason to be happy. Their firm, Calamatta Cuschieri Moneybase, has once again posted “excellent” financial results, following the record results achieve in 2023 with a double-digit increase in revenue, a nine per cent increase in customer deposits, and an improvement in EBITDA of no less than 56.5 per cent.

The EBITDA margin also saw substantial improvement, rising from 25.1 per cent in H1 2023 to 34.3 per cent in H1 2024, indicating “strong performance across all areas of the business.”

As the Co-CEOs steer the firm – a cornerstone of Malta’s financial services sector – through the positive momentum, they expressed confidence in their team’s ability to deliver on new projects and features aimed at improving its product and services: “Our team’s commitment and relentless drive has been the reason that we have managed to achieve and outperform our target, and we expect the same level of enthusiasm and commitment going forward.”

The interim financial statement was published alongside revised targets that sees the forecast profit before tax amended upwards from €2.6 million to €4.0 million, which they are “optimistic” of achieving.

During the first half of the year, Calamatta Cuschieri Moneybase implemented several strategic initiatives to streamline its operations and enhance customer experience.

A key milestone was the rebranding of the company from CC Finance Group plc to Calamatta Cuschieri Moneybase plc to reflect the group’s integrated service offerings, accessible through a unified digital platform that allows clients to manage their portfolios, payment accounts, and debit cards.

The company also expanded its outreach through new initiatives, including the launch of its podcast, ‘Fintalks’, which aims to educate and engage listeners on current financial trends.

Additionally, Calamatta Cuschieri Moneybase played a pivotal role in establishing the Private Equity & Venture Capital Association Malta (PEVCA Malta), underlining its commitment to promoting the private equity sector in the Maltese economy.

In the investment services sector, the company capitalised on strong international market performance and identified lucrative opportunities in the fixed-income market.

Calamatta Cuschieri Moneybase also strengthened its service offerings by partnering with IVALIFE as an Insurance Intermediary, enhancing its pension and protection services.

Moreover, the company has successfully obtained authorisation to open a branch in Milan, Italy, further expanding its reach to high-net-worth clients.