Last month, GO plc marked its 50th anniversary reporting record-breaking revenues of €244.9 million and a stable net profit of €15.7 million for 2024 during its annual general meeting. “This is probably one of the most exciting times for GO as it transforms itself from a legacy telecom operator into a diversified digital and greenenergy group,” says CEO NIKHIL PATIL.
Reflecting on 2024’s performance, what shaped this year’s results?
This year’s golden anniversary is more than a milestone. It reflects fifty years of resilience, reinvention, and unwavering commitment to our customers. The record revenues, a 3.8% increase on last year, not only underscore our disciplined approach to growth and cost management but also our successful transformation from a traditional telecom operator into a diversified digital and greenenergy group. Our local leadership in broadband and mobile services is built on this legacy of continuous evolution, and these results confirm that our strategic investments are paying off.
What were the key drivers behind this performance?
Several strategic initiatives propelled our performance in 2024. Subscriber growth remained strong across both our broadband and mobile segments. We continued our TrueFibre rolloutby connecting more new homes. Today, we have reached over 95% fibre coverage. This achievement has helped us reach near nationwide coverage earlier this year, well ahead of schedule, making Malta the first EU Member States to have nationwide Fibre coverage.Meanwhile, our diversification strategy continues to bear fruit: BMIT Technologies’ cloud and managedservices revenue grew by 14% in the first half of the year, and nascent gains from Cybersift, AQS Med, SENS, and Klikk further broadened our revenue streams.
GO’s shift to digital and energy verticals is particularly interesting. How are your subsidiaries driving that vision?
Our subsidiaries are proving pivotal to our growth and innovation. BMIT Technologies has expanded its cloud, datacentre, and cybersecurity services delivering doubledigit growth and reinforcing Malta’s reputation as a secure digital hub. Cybersift is strengthening national cyberresilience through advanced threatintelligence platforms and Security Operations Centre services. AQS and SENS’s solar leases, greentariff sourcing and smartgrid integrations are transforming the energy market, effectively creating a seamless digitalpluscleanenergy proposition. Meanwhile, Klikk’s range of electronic devices and other hardware is enriching our ecosystem and delivering value to both residential and business customers. This diversification is central to our vision.
Sustainability was a focal point—could you elaborate on the environmental milestones of your fibre rollout and new headquarters in Żejtun?
True fibre is inherently more energy efficient than copper, but we’ve gone further in embedding sustainability across our operations. Our net-zero Żejtun headquarters features solar arrays, Building Integrated Photovoltaics, and advanced energy management systems. By consolidating teams onsite and shifting our fleet to electric and hybrid vehicles, we’re significantly reducing our carbon footprint. These actions reflect our commitment to environmental leadership and set a new benchmark for corporate sustainability in Malta. We’re leading by example.
GO returned €28 million to shareholders in 2024. How do you balance dividends with reinvestment?
Our capitalallocation framework is founded on discipline and strategic foresight. Last year, we generated €64 million in operational cash flow and returned €28 million to shareholders in the form of dividends—equivalent to €0.28 per share—achieving a 16.9% return on equity. The remaining cash has been ploughed back into expanding our fibre network, scaling digital ventures, and funding greenenergy projects and innovation. Over the past seven years, GO has distributed €154 million to shareholders—more than half of our market capitalization—while still investing aggressively in futureproofing the business.
Culture and values shape GO’s identity. How do they underpin your strategy?
Our purpose – to drive a digital Malta where no one is left behind – is guided by three core values: customer obsession, an ownership mindset, and the concept of one GO Team. These foster user-focused innovation, accountability, and agile collaboration. Together, they deliver faster digital experiences like Wi-Fi 7 and SmartHub, industry-leading service KPIs, and award-winning customer satisfaction.
With fibre and 5G coverage now ubiquitous in Malta, what’s next for GO?
Completing our infrastructure rollout is just the beginning. The next phase is activation by driving digital adoption across both consumer and enterprise segments. We will accelerate the uptake of bundled offerings that combine entertainment, smarthome solutions, cybersecurity, and cloud services. On the B2B front, we plan to expand BMIT’s cloud and managedservices footprint while scaling GO Ventures’ investments in healthtech and fintech startups. For consumers, we will continue to roll out GO ENERGI packages and broaden our content library via Tokis TV. Our aim is to ensure every household and business not only has connectivity but also the digital tools they need to thrive.
You’ve mentioned GO ENERGI frequently. Can you quantify its ambition?
GO ENERGI’s ambition is to become Malta’s leading provider of cleanenergy solutions by leveraging our base of over 500,000 connections to crosssell our energy solutions namely, integrated smart meters, greentariff sourcing, and renewableinstallation services at zero upfront cost. Our target is for GO ENERGI to contribute to group revenues and to offset a significant portion of Malta’s residential carbon footprint.
On mobile, you’ve reclaimed the growth lead. What’s driving that success?
This success is being driven by network innovation and customer-centric offerings. We’ve expanded 5G coverage and enhanced performance with AI-powered network management. Competitive data plans, flexible device financing, and features like Wi-Fi 7 offload and SmartHub roaming have boosted customer appeal. In 2024, we outpaced competitors in net additions, gaining market share while preserving healthy margins.
Looking ahead, what legacy do you hope GO will leave in its next 50 years?
I want GO to be remembered as Malta’s catalyst for digital and sustainable transformation. We are connecting everyone with futureproof networks, empowering businesses and families with secure, integrated digital and energy solutions, and championing environmental responsibility through pioneering green initiatives. I want our culture of innovation and customer obsession to endure so that as the digital age unfolds, no one is left behind.
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