Meridian Trade Systems operates the digital customs, clearing and settlement infrastructure at Porta Franca, the principal overland border crossing between the Republic of Kaskiv and the Divine Republic of Kresimiria. Its ordinary shares have been admitted to trading on the San Branik Stock Exchange since 1998. This centre publishes the group's results, statutory disclosures and governance information.
Security identity
| Legal name | Meridian Trade Systems |
| Company type | Public limited company |
| Listing | San Branik Stock Exchange (official list) |
| Ticker | MTS |
| Admitted to trading | 1998 |
| Sector | Technology, logistics and market infrastructure |
| Shares in issue | 1,450,000,000 ordinary shares |
| Free float | 59.7% |
| Reporting currency | krejt (₭) |
| Financial year end | 31 December |
| Registered office | San Branik, Republic of Kaskiv |
| Disclosure regulator | Kaskivian Securities Commission |
| Contracting authority | Kaskivian Ministry of Trade (Porta Franca) |
| Auditor | Ferretti & Lodi, Chartered Accountants, San Branik |
Share information
| Closing price | ₭312.40 |
| Market capitalisation | ₭452.9bn |
| 52-week range | ₭244.10–₭338.60 |
| Dividend per share, FY2025 | ₭2.35 |
| Dividend yield | 0.75% |
| Index membership | SBSE General Index; SBSE Infrastructure 20 |
Prices are stated as at the date shown. Meridian does not maintain a live quote feed on this website.
Operational profile
| Principal activity | Digital customs, clearing and settlement infrastructure at Porta Franca |
| Federal contract | Ministry of Trade, since 1995; current term to 2035 |
| Facility | 30 lanes; 48 scanners; 12 in-motion weigh stations; 900 server racks on the border line |
| Clearing hours | 24 hours, seven days |
| Reporting segments | Border and customs services; clearing and settlement; logistics software and licensing; market data and venue services |
| Interfaces | FIX 4.4; Meridian Clear API; terminal |
| Employees | 2,850 (31 December 2025) |
Financial calendar
| Date | Event | Status |
|---|---|---|
| 13 March 2026 | Annual results for the year ended 31 December 2025 | Published |
| 14 May 2026 | Annual General Meeting 2026 | Held |
| 11 September 2026 | Interim results for the six months to 30 June 2026 | Published |
| 31 December 2026 | Financial year 2026 end | Scheduled |
| 12 March 2027 | Annual results for the year ended 31 December 2026 | Scheduled |
Consolidated figures are prepared under Kaskivian accounting standards and stated in krejt (₭). Five-year figures are as published in the relevant annual report.
Five-year summary
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue (₭bn) | 68.9 | 75.5 | 81.6 | 87.2 | 93.8 |
| Operating profit (₭bn) | 24.0 | 26.8 | 29.4 | 31.4 | 34.2 |
| Operating margin | 34.8% | 35.5% | 36.0% | 36.0% | 36.5% |
| Profit after tax (₭bn) | 16.1 | 18.2 | 19.9 | 21.2 | 23.1 |
| Earnings per share (₭) | 11.10 | 12.55 | 13.72 | 14.62 | 15.93 |
| Dividend per share (₭) | 1.40 | 1.65 | 1.85 | 2.10 | 2.35 |
Consolidated income statement
| Item | FY2025 | FY2024 |
|---|---|---|
| Revenue | 93.8 | 87.2 |
| Operating costs | (59.6) | (55.8) |
| Operating profit | 34.2 | 31.4 |
| Net finance income | 0.8 | 0.7 |
| Profit before tax | 35.0 | 32.1 |
| Tax | (11.9) | (10.9) |
| Profit after tax | 23.1 | 21.2 |
Revenue by segment
| Segment | FY2025 | Share | FY2024 |
|---|---|---|---|
| Border and customs services | 37.5 | 40% | 34.9 |
| Clearing and settlement | 28.1 | 30% | 26.2 |
| Logistics software and licensing | 18.8 | 20% | 17.4 |
| Market data and venue services | 9.4 | 10% | 8.7 |
| Group | 93.8 | 100% | 87.2 |
Balance sheet extract
| Item | 2025 | 2024 |
|---|---|---|
| Total assets | 142.6 | 131.8 |
| Cash and cash equivalents | 28.4 | 25.1 |
| Borrowings | 9.7 | 10.3 |
| Net assets | 78.2 | 71.4 |
Dividends and capital
| Year | Dividend per share (₭) | Total dividend (₭bn) | Share buyback (₭bn) |
|---|---|---|---|
| 2025 | 2.35 | 3.41 | – |
| 2024 | 2.10 | 3.05 | 1.8 |
| 2023 | 1.85 | 2.68 | 2.4 |
Document register
| Date | Document | Category |
|---|---|---|
| 11 September 2026 | Interim report, six months to 30 June 2026 | Results |
| 14 May 2026 | Annual General Meeting 2026, results of poll | Meeting |
| 13 March 2026 | Annual report and accounts 2025 | Results |
| 12 September 2025 | Interim report, six months to 30 June 2025 | Results |
| 15 May 2025 | Annual General Meeting 2025, results of poll | Meeting |
| 14 March 2025 | Annual report and accounts 2024 | Results |
| 22 November 2022 | Appointment of Natalia Rybarova as executive director | Board |
| 8 June 2022 | Statement on the High Court of Cassation tax proceeding | Regulatory |
| 14 March 2005 | Statement on the Securities Commission trading inquiry, 2003–2005 | Regulatory |
Board of directors
| Name | Role | Status | Appointed |
|---|---|---|---|
| Mose Lo Scalzo | Founder and Chief Executive Officer | Executive | 1994 |
| Natalia Rybarova | Executive Director | Executive | 2022 |
| Renato Bracci | Chief Financial Officer | Executive | 2017 |
| Aurelio Fasoli | Chair | Independent non-executive | 2015 |
| Carmela Ruffo | Director | Independent non-executive | 2018 |
| Enzo Baldini | Director | Independent non-executive | 2020 |
Board committees
| Committee | Chair | Members |
|---|---|---|
| Audit Committee | Carmela Ruffo | 3 |
| Remuneration Committee | Enzo Baldini | 3 |
| Nomination Committee | Aurelio Fasoli | 3 |
Auditor and advisers
| Auditor | Ferretti & Lodi, Chartered Accountants, San Branik |
| Company secretary | Dario Skoko |
| Listing venue | San Branik Stock Exchange |
| Disclosure regulator | Kaskivian Securities Commission |
Major shareholders
| Holder | Country | Shares | Holding |
|---|---|---|---|
| Scalzo family interests | Kaskiv | 406,000,000 | 28.0% |
| Kruhlbank Global | Kruhlstutt | 104,400,000 | 7.2% |
| Kaskiv State Pension Fund | Kaskiv | 73,950,000 | 5.1% |
| Other institutional and retail | – | 865,650,000 | 59.7% |
| Total | – | 1,450,000,000 | 100% |
Regulatory and legal
| Federal contract | Digital customs and clearing infrastructure, Porta Franca. Ministry of Trade, since 1995; current term to 2035. |
| Disclosure regulation | Kaskivian Securities Commission. Ordinary shares admitted to the official list since 1998. |
| Treasury v. Meridian Trade Systems (2022) | The High Court of Cassation compelled the Chief Executive to testify on tax-filing methodology. The court issued corrective orders on reporting methodology and made no finding of criminal liability against the company. |
| Securities Commission inquiry (2003–2005) | The Commission investigated high-frequency trading at Porta Franca. No proceedings were brought against the company. A former counterparty was charged in absentia. |
| Political funding | Donations to Kaskivian political parties are disclosed in the annual report under the Political Funding Act. |
Investor relations
| Registered office | Meridian Trade Systems, San Branik, Republic of Kaskiv |
| Investor relations | investor.relations@meridiantrade.kr |
| Media enquiries | press@meridiantrade.kr |