MIA’s Financial Performance Paves the Way for Further Investments in 2016

Following the meeting of the Board of Directors of the Company held on the 24th of February 2016, Malta International Airport announced that the Company’s profits for the year increased from €16.8 million to €19.3 million. This increase signals that the Company is on the right path to proceed with the next stages of its ambitious investment plan for 2016 and beyond.

Increases in revenues were registered by both the Company’s aviation and non-aviation segments. The global sum of Group revenues for 2015 was €66,965,843, up from €64,290,433 in 2014. Aviation revenues, which grew by 4% to €46.4 million, are largely attributable to the record number of guests travelling through the airport last year. With an increase of 5% to €20 million, the Company noted that it had once again achieved its target split of 30% of Group revenues for its non-aviation segment. SkyParks Business Centre was a key driver for non-aviation results, most notably since it has now reached its full retail and office potential. Contributions from the airport’s retail outlets, car park, and VIP product also led to growth in non-aviation revenues.

“The results today are not only positive and encouraging for Malta International Airport and its shareholders, but also for the country as a whole. Our positive financial performance puts us on the right track to realising our €78 million investment plan. This significant commitment includes a €40 million investment in enhancing our non-aviation segment further through the development of SkyParks 2, together with our €28million terminal expansion, scheduled to commence later on this year. We look forward to building on our successes to continue investing in both our product and our people,” said MIA CEO Alan Borg.

The Earnings before Interest, Taxation Depreciation and Amortisation (EBITDA) of the Group increased from €33.8 million to €35.6 million.

At the said meeting the Board of Directors approved the financial statements for the financial year ended 31st December 2015. These statements can be viewed on the Company’s web portal.

The Board of Directors also approved a further gross dividend of 10.7692 euro cents per share be paid to all shareholders on the register of members after settlement as at close of business on Monday 4th April 2016, payable by not later than 19th May 2016. This, together with the interim dividend already paid shall be proposed to the shareholders for the financial year ended 31st December 2015, equivalent to a gross final dividend of 15.3846 euro cents (net 10.0 euro cents).

Finally, the Directors have also scheduled the Annual General Meeting of the Company for Wednesday 4th May 2016. Shareholders on the registry of members at the Central Securities Depository, as at close of business on Monday 4th April 2016, shall be eligible to receive notice, attend, and vote at the Annual General Meeting and to receive a copy of the Business Report

Marketing & Brand Development

24 February 2016

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