Malta International Airport plc - Quarterly Update
On 17 May 2019, Malta International Airport plc issued a company announcement updating the market on its financial performance during the first quarter of 2019.
The company noted that, during the first three months of 2019, revenue increased by 11.7% to €15.6 million (Q1 2018: €13.9 million) whilst EBITDA soared by nearly 20% to €7.23 million (Q1 2018: €6.03 million). Similarly, profits after tax grew by 9.6% to €2.87 million when compared to the €2.62 million generated in the first three months of 2018.
Meanwhile, the announcement also showed that MIA remained debt free as at 31 March 2019. Moreover, it had total cash balances of just under €38 million, representing an increase of 87% (or +€17.6 million) over the cash balance held as at 31 December 2018.
The Directors stated that the favourable start to the summer season, coupled with the projection of further growth in passenger numbers, provide a positive outlook for the rest of 2019.