Our Story
AX Group is a diversified Group of companies operating in six key sectors: Construction, Development, Healthcare, Hospitality, Real Estate and Renewable Energy. We strive to deliver on our promise to provide the highest quality for the best possible value.
Founded by Chairman Angelo Xuereb in 1975, AX Group began its existence as a civil engineering firm. In the ensuing decades, the company took steps towards diversification by expanding its business portfolio to include restoration works, hotels, restaurants, care homes, and many other high-quality projects.
Our Story
In 2018, the Group consolidated its various businesses under the AX brand. AX Group remains a family-run business, with the second generation of the Xuereb family actively involved in driving the company forward by seeking new avenues for growth related to our core activities.
Driven by our family-inspired values, our workforce contributes to the continued success of the Group. Together, our focus is on exceeding client expectations and leaving a positive legacy in the industries we serve.
Our mission
At AX Group we strive to leverage our entrepreneurial skills to deliver high-quality innovative developments. This is achieved by inspiring our people to learn from our past, and to embrace the future with courage and optimism.
our Values
Creativity
We harness the creativity and ingenuity of our people to develop new solutions, identify different lines of business, and pursue new opportunities to move the business forward.
Determination
We endeavour to create projects with exceptional quality that exceed client expectations. We seek to remain at the forefront of innovation to inspire growth and progress in the industries we operate in.
Integrity
We deliver on what we promise by operating on a level of transparency and trust. We act ethically in the interest of the environment and communities we work in.
chairman’s
statement
I wish to thank our management who worked so hard in these challenging times to achieve the results we did.
financial
highlights
Revenue
- Revenue (€’000)
SEGMENTED REVENUE
- Construction works, building materials and management services
- Healthcare
- Rental income
- Hospitality and entertainment
- Sale of property and real estate
- Dividends receivable
Ebitda
- Ebitda (€’000)
TOTAL AND NET ASSETS
- Total Assets (€’000)
- Net Assets (€’000)
Key accounting ratios
Our sectors
CEO REview
CEO REview
The Group, with the full backing of the family and the Board of Directors, looks ahead to dynamic growth, further investment in its core sectors, and to build on its reputation as an employer of choice.
board of directors
Angelo Xuereb
Chairman
Michael Warrington
Director / Chief Executive Officer
Denise Micallef Xuereb
Executive Director Construction and Development
Claire Zammit Xuereb
Executive Director Hospitality and Care
John Soler
Independent Non-Executive Director
Josef Formosa Gauci
Independent Non-Executive Director
Christopher Paris
Independent Non-Executive Director
Edmond Zammit Laferla
Company Secretary
Senior Management team
Michael Warrington
Director / Chief Executive Officer
Denise Micallef Xuereb
Executive Director Construction and Development
Claire Zammit Xuereb
Executive Director Hospitality and Care
Albert Bonello
Chief Financial Officer
Dr. David Wain
Chief Legal Officer
Lawrence Degabriele
Head of Information Technology
Josephine Grima
Head of Human Resources
Kevin Callus
General Manager Sliema and Valletta hospitality properties
Charmaine Montesin
General Manager AX Care
Joseph Vella
General Manager Qawra hospitality properties
Caroline Schembri
Head of Administration
Axi board
Angelo Xuereb
Chairman
Michael Warrington
Executive Director
Chev. Phillip Ransley
Independent Non-Executive Director
Dr. Patrick Galea
Independent Non-Executive Director
Josef Formosa Gauci
Independent Non-Executive Director
Dr. Ian Vella Galea
Company Secretary
an investment overview
AX Investments p.l.c. is the finance vehicle of AX Group, which was set up in 2001. The company’s first financing initiative was a private placement for the financing of the Verdala Mansions project in Rabat
AX Investments listed two public bonds on the Malta Stock Exchange. The first of these bonds – the 6.7% AX Investments p.lc. 2014-2016 for the amount of EUR 11.6M was raised for the general funding of AX Group. Another bond the 4% AX Investments p.l.c. 2013, for an amount of EUR 2.3M, was to re-purchase the shares in Suncrest Hotels p.l.c. held by the general public. This bond was repaid in December 2013.
In 2014, the company issued a 6% Bond redeemable in 2024 for EUR 40M. The investment was primarily used towards building Hilltop Gardens, the first retirement village on the island. AX Investments p.lc. is managed through its board of directors. The Directors are Mr Angelo Xuereb – Chairman, Mr Michael Warrington, Dr Patrick Galea, Mr Josef Formosa Gauci, and Chev Philip Ransley. Dr Ian Vella Galea is the Company Secretary.
