Malta Airport’s financial performance will enable further investment in airport site

• Net profit of €24.2m registered; up 15.1% from 2016 • Financial results will enable investment of at least €100m in airport site • 6.5 million passenger movements forecast for 2018, marking 9th consecutive record year

Malta International Airport plc experienced another year of solid growth, with the company registering a net profit of €24.2m, up from €21.0m in 2016.

Details of the company’s performance in 2017 were presented during Malta International Airport’s 26th Annual General Meeting on Tuesday. The company’s outstanding financial performance can be attributed to an increase in revenues in both the airport’s aviation (+14.6%) and non-aviation (+8.3%) segments. The significant growth registered by the aviation segment was largely the result of an upswing of 17.5% in passenger movements.

Addressing shareholders present for the meeting, MIA chairman Nikolaus Gretzmacher noted that 2017 was the airport’s fastest-growing year, gaining almost one million passenger movements over 2016. He added that despite the fact that the terminal was both busier and in a state of development through the company’s Terminal Reconfiguration Project, the team had succeeded in delivering an excellent service to its guests, attaining the Second Best Airport in Europe award in the Airport Service Quality survey.

“Now that the Terminal Reconfiguration Project is fast nearing completion, we are operating with significantly improved terminal facilities, including additional check-in desks, a bigger Security Screen- ing Area and a new lounge, which put us in a better position to provide an even smoother passenger journey,” Gretzmacher added.

MIA CEO Alan Borg reviewed the year 2017 in more depth, presenting details of the company’s growth across its key financial indicators, an extensive traffic report and investment highlights for the year.

Borg noted that the company’s traffic projections for 2018 indicate that the year will be closed off with around 6.5 million passenger movements, marking the ninth consecutive record year for MIA.

He then went on to focus on the company’s recently approved master plan, which will see MIA invest at least €100m into the development of the terminal and the surrounding airport site over the mediumterm.

“Our commitment to invest in both our aviation and non-aviation segments in a way that enables us to keep growing sustainably is etched in our corporate strategy and our master plan is a means by which we will honour this pledge,” said Borg.

Looking at the more immediate future, Borg said that in the last quarter of 2018, works will be kicked off on the construction of a multi-storey car park with an investment totalling around €20m. Other investments for this year include the extension of the airport’s cargo village, further terminal upgrades and security and operational improvements. Later on will see the development of Skypark 2 with an 80- to 100-bed hotel and Skypark 3. Further on will see the extension of the main terminal outwards into the parking area.

During the meeting, shareholders approved a total net dividend of €0.10c per share for 2017. The dividend has been static for three years but no one in the audience objected. On the contrary, the chairman of the Small Shareholders’ Association, Tarcisio Barbara was full of praise for Borg and thanked him for “benefits” extended to shareholders.

After the AGM the following directors were confirmed in office for the forthcoming year: Nikolaus Gretzmacher, Cory Greenland, Rita Heiss, Wolfgang Koeberl and Florian Nowotny as non-executive directors and CEO Alan Borg and CFO Karl Dandler as executive directors.