Malta airport’s profits rise 25.6% to €30.3m in 2018

Alan Borg, CEO of Malta International Airport, speaks during the 27th Annual General Meeting today. (source: Malta International Airport media)

Net profit of Malta International Airport (MIA) reached €30.3m in 2018, an increase of 25.6% over the preceding year, according to a press statement sent to Business Malta. During the 27th Annual General Meeting today, shareholders approved a total net dividend of €0.12 per share.

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

“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,” Nikolaus Gretzmacher, Chairman of Malta International Airport, said in his opening address.

Mr Gretzmacher said that while 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”.

Alan Borg, Chief Executive Officer of Malta International Airport, further elaborated on the companies performance, taking the floor after the chairman. Mr 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, while noting that in 2019 alone the company’s investments will total over €20m.