Malta International Airport Plc

Earnings Release • May 11, 2018

COMPANY ANNOUNCEMENT Malta International Airport plc (the "Company") Financial Information – Q1 2018

Date of Announcement	11th May 2018
Reference	279/2018

QUOTE

The Company hereby announces that during the period under review (1 January – 31 March 2018) its financial position remained sound, with its performance for this quarter going on to surpass that of Q1 2017. The Company invested heavily in incentivising winter traffic to ensure a stable return.

During this three-month stretch, turnover reached €13.9 million, an increase of 3.8% over the previous year. Similarly, total expenditure for the period increased by 3.9% to reach €7.9 million.

The Profit (Loss) statement and the Balance Sheet attached tabulate these positive results for the first quarter of 2018.

A favourable start to the summer season, together with the projection of further growth in passenger numbers, provide an optimistic outlook for the rest of the year 2018.

UNQUOTE Signed:

Louis de Gabriele COMPANY SECRETARY

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 6 million passengers annually, as well as over 16,000 tonnes of cargo. The airport's existent terminal has been in operation for the past 26 years, during which time it has grown to support over 4,000 airport jobs, accommodate 45 retail and catering outlets, and provide parking for over 1,500 cars. In 2017, Malta International Airport ranked amongst the top five European airports in ACI's Airport Service Quality survey for the seventh consecutive year, and in 2016 it was awarded a prestigious 4-star rating 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 279/2018

PROFIT (LOSS): January - March
	2018	2017
Revenue
Aviation	8,590,557	8,429,514
Non-Aviation	5,344,145	4,994,909
Total Revenue	13,934,702	13,424,423
Expenditure
Staff costs	2,216,558	1,965,093
Operating costs	3,675,623	3,530,706
Marketing costs	1,058,449	928,317
Administration costs	289,085	221,673
Corporate and financial costs	661,956	957,847
Total Expenditure	7,901,671	7,603,636
EBITDA	6,033,031	5,820,787
EBIT	4,200,303	4,169,300
PROFIT AFTER TAX	2,622,138	2,465,772
BALANCE SHEET
	31 03 2018	31 12 2017
ASSETS
Non-Current Assets
Property, Plant and equipment	106,547,751	105,864,394
Investment property	16,460,244	16,656,702
Available-for-sale investments	108,776	107,578
Deferred taxation	5,516,517	5,545,043
	128,633,288	128,173,716
Current Assets
Inventories	882,799	891,511
Trade receivables	13,035,302	10,576,836
Other receivables	4,377,947	4,806,538
Cash and cash equivalents	43,535,941	38,401,907
	61,831,989	54,676,791
TOTAL ASSETS	190,465,277	182,850,507
EQUITY AND LIABILITIES
Equity

Share capital	33,825,000	33,825,000
Revaulation reserve	1,167,300	1,179,462
Revaluation of investment	30,973	30,973
Retained earnings	63,353,762	60,712,916
TOTAL EQUITY	98,377,035	95,748,351
Non-Current Liabilities
Bank loan	14,999,999	31,147,638
Deferred income	5,505,610	5,371,367
Provision for retirement benefit fund	4,419,845	4,408,590
Provision for MIA benefit fund	225,656	222,989
	25,151,110	41,150,583
Current Liabilities
Trade payables	3,852,595	3,346,688
Other payables	40,065,605	37,230,247
Bank loan	18,016,561	1,868,923
Tax payable	5,002,371	3,505,715
	66,937,132	45,951,572
TOTAL LIABILITIES	92,088,242	87,102,156
TOTAL EQUITY AND LIABILITIES	190,465,277	182,850,507