Malta International Airport plc - Quarterly Update
On 12 November 2018, Malta International Airport plc (“MIA”) published an Interim Directors’ Statement updating the market on its financial performance since the start of the year.
The Directors noted that during the nine-month period under review, the financial position of the company has remained sound and that its performance has been superior to the corresponding period last year. Revenues grew by 12.2% year-on-year to €70.8 million (Jan – Sept 2017: €63.1 million), EBITDA increased by 12.9% to €44.1 million (Jan – Sept 2017: €39.1 million) and net profits rose by 16.5% to €24.9 million (Jan – Sept 2017: €21.4 million). It is also worth highlighting that as at the end of September 2018, MIA remained debt-free and also held €14.6 million in cash balances.
Looking ahead, MIA stated that the traffic projections for the current winter schedule are positive. Moreover, the company remains optimistic that Q4 2018 will follow the positive trend registered so far this year, and that the full-year financial results are expected to be in line with the revised projections dated 26 July 2018. In July, MIA had adjusted higher its forecasted revenue figure for the current financial year ending 31 December 2018 to over €90 million (+9.3% over FY2017) from the earlier projection of over €87 million. Likewise, on 26 July 2018 MIA had upgraded its FY2018 forecasted EBITDA and net profit figures to over €53 million (+9.1% over FY2017) and €29 million (+20.1% over FY2017) respectively from the January projections of over €52 million and €28 million.
Malta International Airport plc – Interim Directors’ Statement dated 12 November 2018.