Wednesday, March 20, 2013

2012 another record financial year for M.I.A. plc

Following a meeting of the Board of Directors held earlier today, it was announced that in 2012, Malta International Airport plc's total comprehensive income for the year net of tax increased from €11.9 to a record €12.46 million, signifying an increase of 4.71% over the previous year. 

Revenue increased from €52.4 million to €52.8 million. Although there was an increase of 4.1% in the number of passengers, the revenue from the airport segment decreased from €39.2 million to €38.3 million whilst the revenue from the Retail & Property Segment increased from €12.6 million to €14.1 million.

The earnings before Interest, Taxation Depreciation and Amortization (EBITDA) increased by 4.05%; from €24.79 million to €25.8 million and the EBITDA margin increased from 47.28% to 48.84%. There was also an increase in profit before tax. Profit increased from €18.92 million to €19.46 million, an increase of 2.8%.
 
These results reflect the increased volume of traffic as well as the strict control exercised on the costs of the Group, in a business environment which has a high level of fixed costs.
 
In so far as the operating costs are concerned, these were marginally lower than those of 2011. Utility costs were up from €2.8 million to €3.1 million, maintenance costs of buildings and equipment were up from €1.53 million to €1.71 million, and marketing costs were also up from €2.53 million to €2.83 million. There were also marginal increases in other operational costs such as legal and professional fees, rents payable, charges for service for persons with reduced mobility, staff costs and security fees. 

(Source: maltairport.com, 20-Mar-2013)