Further to the publication of its Business Report and Financial Statements for 2009, Malta International Airport plc has revealed results that show the Company has registered 2.1% net profit over last year despite all the difficulties set by the global scene that have brought about a 6.1% traffic decrease.
Moreover, further to the net interim dividends paid of €4,059,000 (€0.06 per share), M.I.A. plc paid out an additional €0.057 as final net dividend which brings the total dividend for the year at €0.117 per share which is the same dividend as that paid in 2008.
The Company’s turnover in 2009 was €46.45 million as against €45.11 million in 2008 (3%). The EBITDA registered was €20.71 whilst in 2008 the EBITDA was €20.30 (2%) and the EBIT for 2009 was €15.41 as against €15.38 (0.2%). M.I.A. plc’s net profit for 2009 was €8.84 million."In 2009 M.I.A. may safely be considered to have achieved satisfactory results notwithstanding worldwide economic obstacles that have affected our operations. Registering a net profit of 2.1% at the same time when we were struggling to contain a 6.1% decrease in traffic only goes to show that out diversification strategy is working and investments made in previous years have helped us weather the storms" stated Julian Jaeger, CEO of Malta International Airport.
In the light of the bleak financial environment such results warrant M.I.A. to look ahead with confidence. This is substantiated with the worthwhile investment afforded for the expansion project of the terminal which is now fully operational and has generated an increase in revenue in the retail and properties segment of 24%.
This expansion and complete refurbishment is the salient feature of a strategy which shows a clear commitment to meet the challenges through diversification of revenues and consistently pursuing the established policy of support schemes to encourage the introduction of new routes and additional flight frequencies in close cooperation with the major stakeholders."Notwithstanding the turbulent times, we still stand by our revised forecast of plus 6% passenger movements, though given the recent disruptions on air traffic and their consequences on air traffic we shall consistently be monitoring the overall situation" said Mr JaegerThe modernisation of the terminal has enhanced comfort and services for both travellers and locals alike, and this has resulted in M.I.A. receiving remarkable accolades on international levels namely The Passenger Terminal World Annual title of "Most noteworthy airport for a new small budget programme" and moreover the Airport Council’s International, Airport Service Quality Survey overall classification of fourth best airport in Europe.
These results warrant the Company’s further investment for future development and following the issuing of MEPA’s approval of permits, works on the construction of the Business Centre by Skyparks Development Ltd, a subsidiary company of M.I.A. plc, have now commenced. This new Business Centre should be completed in 2011.
(www.maltairport.com)