Malta International Airport Plc

Earnings Release • Nov 12, 2018

Malta International Airport plc, Luqa LQA 4000, Malta

Tel: +356 2124 9600 Fax: +356 2124 9563 E-mail: info@maltairport.com www.maltairport.com

COMPANY ANNOUNCEMENT

Malta International Airport plc (the "Company")

Interim Directors' Statement

Date of Announcement	12 November 2018
Reference	290/2018

QUOTE

The Company hereby announces that since the announcement issued on 26 July 2018 and the date of this announcement. no material events and / or transactions have taken place that would have an impact on the financial position of the Company, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules, and which have not been otherwise announced through a Company Announcement.

During the period under review (1 January 2018), the financial position of the Company remained sound and its performance is superior to 2017.

The turnover for the first nine months of 2018 was Euro 70.8 million, an increase of 12.2% when compared to the first three quarters of 2017. Total expenditure increased by 10.9% to Euro 26.7 million, while the period January to September 2018 increased by 16.5% to Euro 24.9 million. The attached Profit (Loss) statement and the Balance Sheet show these positive developments for the first three quarters of 2018.

With the winter schedule now launched and traffic projections remaining positive, the Company remains optimistic that the last quarter will follow the positive trend is expecting to be in line with the financial targets set out in the Company Announcement 285/2018, published last July.

UNQUOTE Signed: Louis de Gabriele COMPANY SECRETARY

Some charges in data collection in analy 2017, with the number reported being marinally different to there not have nation in the nation in on our reported result, lif further details are required, kindly contact the Marketing & Communications@maltairport con.

Mala hernal aliport sing the Malaes in the lines and the Research and Chines Mines Will Prime in Maris (nation in the closes (next hat market on the closes in and carent and 1,580 car. MI's comminnent to series excellent in ACS sicont series quity survey since Quality survey ince 200, as well as 4-star rating werded by Styles, Mater her and silpe Bolanes Centre, an eco-ectific building healy 10,000m² de hall and enemies. To naximis is contribution to halta's cultural heritage and environment, Mata international Alport Bearless Band of Childerendently run, non-profit organisation.
Airport Foundation, visit vow maltarport com Alternatively, follow us on Facebook (facebook.com/or laisport).

VAT No: MT 12357210 - Co. Reg: C12663

10

PROFIT (LOSS): January - September

	2018	2017	+/-
REVENUE
Aviation	50,196,209	44,799,567	12.0%
Non-aviation	20,606,575	18,327,764	12.4%
Total revenue	70,802,784	63,127,331	17272%
EXPENDITURE
Staff costs	7,146,052	6,129,351	16.6%
Operating costs	12,966,471	10,736,891	20.8%
Marketing costs	3,407,521	2,870,183	18.7%
Administration costs	1,084,034	750,128	44.5%
Corporate and financial costs	2,085,141	3,582,442	-41.8%
Total expenditure	26,689,219	24,068,995	10.9%
EBITDA	44,113,565	39,058,336	12.9%
EBIT	38,666,182	33,802,374	14.4%
PROFIT	24,893,277	21,367,404	16.5%

BALANCE SHEET

	30 September 2018	31 December 2017
	e	€
ASSETS
Non-current assets
Property, plant and equipment	106,274,667	105,864,394
Investment property	16,066,989	16,656,702
Available-for-sale financial assets	107,786	107,578
Deferred tax assets	5,355,494	5,545,043
	127,804,936	128,173,717
Current assets
Inventories	883,127	891,511
Trade and other receivables	24,075,468	15,383,372
Cash and short-term deposits	14,558,870	38,401,907
	39,517,465	54,676,790
TOTAL ASSETS	167,322,401	182,850,507
EQUITY AND LIABILITIES
Equity attributable to ordinary shareholders
of the Company
Share capital	33,825,000	33,825,000
Other Reserve	1,142,979	1,179,462
Fair Value reserve	0	30,973
Retained earnings	72,163,292	60,712,916
Total equity	107,131,271	95,748,351
Non-current liabilities
Bank loan	0	31,147,638
Deferred income	5,350,225	5,371,367
Provision for retirement benefit plan	3,942,029	4,408,590
Provision for MIA benefit fund	230,989	22,989
	9,523.243	41,150,584
Current liabilities
Trade and other payables	42,775,396	40,576,934
Bank loan	0	1,868,923
Current tax liabilities	7,892,491	3,505,715
	50,667,887	45,951,572
Total liabilities	60,191,130	87,102,156
TOTAL EQUITY AND LIABILITIES	167,322,401	182,850,507