MIA registers €19.3m profit, terminal expansion works to start

Malta International Airport plc made a net profit of €19.3 million in 2015, up from the €16.8 million registered for the previous year, encouraging the group to forge ahead with its ambitious investment plans.

Detailed results of the Group, presented during its 24th Annual General Meeting, show that this growth was spurred by a positive performance of both the airport’s aviation and non-aviation segments.

The increase in net profit is also attributed to the one-time effect of the company’s divestment of its shareholding in Valletta Cruise Port plc, which contributed a significant €1.2 million to its bottom line.

This growth increased Malta International Airport’s contribution to the government, in annual taxes on income coupled with dividends from its 20 per cent shareholding in the company, up to €12.5 million from €12.2 million in 2014.

Addressing shareholders present at the meeting, MIA chairman Nikolaus Gretzmacher touched upon the 7.7% growth in passenger traffic and the generation of 30% of group revenues from the non-aviation segment, in line with the airport’s targets to maintain diversified revenue streams.

 “Beyond passenger numbers and revenues, we continue to drive our vision of offering the best airport experience in Europe. This year’s silver medal in Airport Council International’s Airport Service Quality (ASQ) awards in the Best Airport by Region Category impels us to continue working towards reaching the top spot by continually exceeding our guests’ expectations”.

Chief Executive Officer Alan Borg said a €28 million terminal expansion plan was expected to be rolled out towards the end of the year, furnishing the terminal with more check-in desks, a central screening area that is double the existing footprint, and more circulation space.

Shareholders approved a total net dividend of €0.10c per share for 2015. The following directors were confirmed in office for the forthcoming year: Nikolaus Gretzmacher, Cory Greenland, Rita Heiss, and Wolfgang Koberl as Non-Executive Directors, and CEO Alan Borg and CFO Karl Dandler as Executive Directors.