GO chairman tells AGM 2022 was a ‘record year’ for the telecoms company

Shareholders to benefit from €0.09 cents dividend per share bringing total dividend distribution for 2022 to €0.15c per share

GO Shareholders attending the AGM were told that a 9c dividend per share had been approved by the board of directors
GO Shareholders attending the AGM were told that a 9c dividend per share had been approved by the board of directors

GO plc's board of directors has recommended a dividend of €0.09 cents per share, bringing total dividend distribution for 2022 to €0.15c per share, GO chairman Lassaad Ben Dhiab announced during the company’s Annual General Meeting.

“Despite challenges we have faced over the past few years, GO has continued to grow, innovate, and maintain a balance between customer needs and long-term sustainability," he said.

"As a result, the GO Group is not only in a position to consider 2022 as a record year but the company is now even more confident in its ability to continue to thrive in the evolving telecoms landscape with a clear vision and ambitious strategy.”

Ben Dhiab said that he was proud to witness the resilience and determination of the company and that these results continue to reconfirm GO’s successful history of delivering value to customers and shareholders, meeting growing demands, and ensuring that everyone remains connected.

On his part, GO’s CEO Nikhil Patil noted how economic and political unrest in Ukraine and the Middle East together with the persisting inflation and slowdown in the wider supply chain have also impacted GO.

“Nonetheless, we managed to overcome the challenges and for the first time in GO’s history, we achieved revenues of €214.6 million, representing a 10.8% year on year growth, and EBITDA of €81.4 million which equates to an 11.1% year on year growth.”

“Beyond this financial achievement, 2022 remains a rewarding year because we continued to grow and exceeded our targets, continued to invest and diversify the business, brought greater value to our customers and shareholders and made their lives better every day.”

Patil reflected on GO’s role in the Maltese community, on its core beliefs and on its purpose as a Maltese company.

“There are lot of services that the community depends upon from health care, education, air traffic services and many more that we take for granted, all of which are delivered over our reliable and resilient infrastructure.”

“Delivering these services is a huge responsibility, and one which we take very seriously. The success we have achieved was possible because we are not only a technology company but also a People company where everything we do is assessed through the lens of our Purpose, which is to drive a Digital Malta where no one is left behind,” Patil said.

“Every working moment we focus on delivering the best possible customer experience, coupled with innovative products and services, and increased value for money. Today, we support over half a million customer connections daily. Our TV channel TOKIS, Malta’s only library dedicated to Maltese TV content offering over 1000 hours of entertainment, has been a huge success, so far registering over 4 million viewers, with at least 155,000 viewers daily. Our efforts have contributed to making GO the fastest growing TV and broadband provider during 2022.”

Patil also made reference to the company’s environmentally sustainable efforts, explaining how GO is also helping its customers achieve their own sustainability goals. Through a number of initiatives and company-wide efforts, GO is well on track to reduce its carbon footprint by 21% by 2024 and source 25% of our energy needs from renewable sources.

“However, our success is the result of the relentless efforts of our People, our biggest asset. Whilst we strive daily to deliver a better service to our customers, we do not fall short of looking after the well-being of our people. In fact, GO has been exemplary in setting industry standards when it comes to employee well-being. We have recently introduced a four-week paid leave policy for employees experiencing pregnancy loss, as well as a 4-week paid leave for non-birthing parents, amongst a host of other initiatives we launched throughout the year in favour of our People,” he said.

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