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 highlights that made 2015 a remarkable year; most notably 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.

Mr Gretzmacher went on to say; “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”.

Taking the floor from the Chairman, Chief Executive Officer Alan Borg gave an extensive review of 2015. He noted that the growth registered by the Company across its key financial indicators, essentially, affirms that the first phases of the Company’s ambitious Terminal expansion plans can be set in motion, as originally envisaged.

“As Malta’s only airport, it is our responsibility to invest in a well-designed Terminal to continue to improve our guest’s experience. Our €28 million Terminal expansion plan is geared at doing precisely this,” he said.

Mr Borg went on to detail that this expansion plan, expected to be rolled out towards the end of the year, will furnish the Terminal with more check-in desks, a central screening area that is double the existing footprint, and more circulation space.

During the meeting, shareholders also approved a total net dividend of €0.10c per share for 2015. After the AGM 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.