The Malta Independent 26 May 2019, Sunday

MIA net profit for 2018 reaches €30.3m; Investments for 2019 to total over €20m

Wednesday, 15 May 2019, 14:17 Last update: about 10 days ago

2018 was an excellent year for Malta International Airport, with the company posting a net profit increase of 25.6 per cent to reach €30.3 million, on the back of a record number of passengers.

Malta International Airport plc announced its results for the year ended 31 December 2018 at its 27th Annual General Meeting held earlier today.

The company’s aviation (+11.1 per cent) and non-aviation (+14.1 per cent) segments both registered growth, with the improvement of the former being largely driven by a 13.2 per cent increase in passenger traffic. In line with its diversification strategy, the company’s non-aviation activities also delivered positive results, contributing 28.9 per cent to  total revenues for the year.

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In the opening address, Malta International Airport Chairman Nikolaus Gretzmacher noted that while these figures speak for themselves, it must be acknowledged that they are the result of ongoing work and tireless commitment, as well as close collaborations with key stakeholders, especially government, when it comes to traffic development.

“Malta International Airport’s double-digit traffic increase for 2018 outpaced the average growth of its European peer group. However, this result did not come at the expense of service quality. In fact, in 2018 we were awarded the Best Airport in Europe title, in recognition of the great airport experience we provided our guests with,” said Gretzmacher.

Taking the floor after the Chairman, Chief Executive Officer Alan Borg gave a more in-depth understanding of the company’s performance for 2018, presenting details of Malta International Airport’s growth across its key financial indicators, a comprehensive traffic report, and an investment break-down.

Borg highlighted that Malta International Airport is set to close off 2019 with another traffic milestone of 7.2 million passenger movements and with plans in hand for a number of infrastructural projects.

“The approval of our master plan was a very important development in 2018 and, together with our solid financial position, it will enable us to continue investing in the airport campus in its entirety over the long term, helping us honour our commitment of keeping the momentum of improvement going,” said Mr Borg, whilst noting that in 2019 alone the company’s investments will total over €20 million.

Borg proceeded to give details on the company’s landside and airside investments, which include the ongoing multi-storey car park project, the SkyParks 2 development, which will also encompass the construction of a business hotel, the development of a new apron, which will furnish the airport with long-term aircraft capacity stability, and a terminal expansion which will address critical areas of operation.

During the Annual General Meeting, shareholders approved a total net dividend of €0.12c per share.

 

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