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

The Malta Business Weekly - - FRONT PAGE -

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.

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