AI Terminal
Malta International Airport Plc
Earnings Release • May 16, 2017
2046_rns_2017-05-16_7aa3772c-dd8d-4e41-941d-43259727aad2.pdf
Earnings Release
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COMPANY ANNOUNCEMENT Malta International Airport plc (the "Company") Interim Directors' Statement – Q1 2017
| Date of Announcement | 16th May 2017 |
|---|---|
| Reference | 254/2017 |
QUOTE
The Company hereby announces that during the period under review (1 January – 31 March 2017) the financial position of the company has remained sound and the performance is superior to Q1 2016.
Passenger numbers in the period under review grew by 22.2%, resulting in a 15.8% increase in turnover, equivalent to Euro 13.4 million. Total expenditure for the period was of Euro 7.6 million, an increase of 5.3%.
The attached Profit (Loss) statement and the Balance Sheet show this positive development in the first quarter of 2017. The promising start to the summer season provides an optimistic outlook for the rest of 2017 with expectations for an overall positive result for 2017.
UNQUOTE
Signed:
Louis de Gabriele COMPANY SECRETARY
Note Some changes in data collection have come into effect as from January 2017, with the numbers reported being marginally different to those reported in previous years. This, however, does not have a material impact on our reported results. If further details are required, kindly contact the Marketing & Brand Development team via [email protected].
About Malta International Airport
Malta International Airport is the only airport serving the Maltese islands, connecting the tiny island state to more than 80 destinations through over 30 partner airlines. With 97% of all Malta's tourists flying through it, the airport handles more than 5 million passengers and over 15,000 tonnes of freight annually. 2017 marks the terminal's 25th anniversary, during which time it has grown to support over 4,000 airport jobs, accommodate 45 retail and catering outlets and parking for over 1,500 cars. MIA's commitment to service excellence has landed it among the top five European airports in ACI's Airport Service Quality survey since 2010, as well as a 4-star rating awarded by Skytrax. Malta International Airport owns SkyParks Business Centre, an eco-certified building that provides nearly 10,000m² of office space and 4,000m² of retail and amenities. To maximise its contribution to Malta's cultural heritage and environment, Malta International Airport set up the Malta Airport Foundation in 2015, an independently run, non-profit organisation.
For more information, visit www.maltairport.com Alternatively, follow us on Facebook (facebook.com/maltairport).
Attached to company announcement 254/2017
| PROFIT (LOSS): January - March | |||
|---|---|---|---|
| 2017 | 2016 | +/- | |
| Revenue | |||
| Aviation | 8,429,514 | 7,021,949 | 20.0% |
| Non Aviation | 4,994,909 | 4,569,590 | 9.3% |
| Total revenue | 13,424,423 | 11,591,539 | 15.8% |
| Expenditure | |||
| Staff costs | 1,965,093 | 1,956,316 | 0.4% |
| Operating costs | 3,530,706 | 3,286,035 | 7.4% |
| Marketing costs | 928,317 | 783,223 | 18.5% |
| Administration costs | 221,673 | 293,205 | (24.4%) |
| Corporate and financial costs | 957,847 | 902,928 | 6.1% |
| Total expenditure | 7,603,636 | 7,221,707 | 5.3% |
| EBITDA | 5,820,787 | 4,369,832 | 33.2% |
| EBIT | 4,169,300 | 2,541,315 | 64.1% |
| PROFIT AFTER TAX | 2,465,772 | 1,462,672 | 68.6% |
| BALANCE SHEET | |||
| 31 03 2017 | 31 12 2016 | ||
| ASSETS | |||
| Non-current assets | |||
| Property, plant and equipment | 102,990,706 | 98,669,856 | |
| Investment property | 17,157,134 | 17,240,197 | |
| Available-for-sale investments | 104,846 | 103,648 | |
| Deferred taxation | 4,127,112 | 4,083,787 | |
| 124,379,798 | 120,097,488 | ||
| Current assets | |||
| Inventories | 846,077 | 834,443 | |
| Trade receivables | 11,716,961 | 9,378,226 | |
| Other receivables | 3,089,513 | 5,502,448 | |
| Cash and cash equivalents | 42,785,674 | 36,550,212 | |
| 58,438,225 | 52,265,329 | ||
| TOTAL ASSETS | 182,818,023 | 172,362,817 | |
| EQUITY AND LIABILITIES | |||
| Equity | |||
| Share capital | 33,825,000 | 33,825,000 | |
| Revaluation reserve | 1,228,107 | 1,228,107 | |
| Revaluation of investment | 27,043 | 27,043 | |
| Retained Earnings | 52,438,169 | 50,017,598 | |
| TOTAL EQUITY | 87,518,319 | 85,097,748 |
| Non-current liabilities | ||
|---|---|---|
| Bank loan | 43,866,560 | 43,866,560 |
| Deferred income | 5,826,362 | 5,667,827 |
| Provision for retirement benefit fund | 4,376,602 | 4,365,940 |
| Provision for MIA benefit fund | 226,524 | 223,936 |
| 54,296,048 | 54,124,263 | |
| Current liabilities | ||
| Trade payables | 3,299,599 | 3,031,888 |
| Other payables | 32,564,244 | 26,464,444 |
| Bank loan | 2,481,423 | 2,481,423 |
| Tax payable | 2,658,390 | 1,163,051 |
| 41,003,656 | 33,140,806 | |
| TOTAL LIABILITIES | 95,299,704 | 87,265,069 |
| TOTAL EQUITY AND LIABILITIES | 182,818,023 | 172,362,817 |