Malta
Int'l Airport plc experienced another year of solid growth, with the company
registering a net profit of €24.2 million, up from €21.0 million in 2016. Details of the company's performance in 2017
were presented today during Malta IAP's 26th Annual General Meeting.
The
company's outstanding financial performance can be attributed to an increase in
revenues in both the airport's aviation (+14.6%) and non-aviation (+8.3%) segments. The significant growth registered by the aviation segment
was largely the result of an upswing of 17.5% in passenger movements.
Addressing
shareholders present for the meeting, M.I.A. plc Chairman N. Gretzmacher noted
that 2017 was the airport's fastest-growing year, gaining almost one million
passenger movements over 2016. He added that despite the fact that the terminal
was both busier and in a state of development through the company's Terminal
Reconfiguration Project, the team had succeeded in delivering an excellent
service to its guests, attaining the second best airport in Europe award in the
Airport Service Quality survey.
"Now
that the Terminal Reconfiguration Project is fast nearing completion, we are
operating with significantly improved terminal facilities, including additional
check-in desks, a bigger security screening area, and a new lounge, which put
us in a better position to provide an even smoother passenger journey," Mr Gretzmacher
went on to add.
On his
part, CEO A Borg reviewed the year 2017 in more depth, presenting
details of the company's growth across its key financial indicators, an
extensive traffic report, and investment highlights for the year.
Mr Borg
noted that the company's traffic projections for 2018 indicate that the year
will be closed off with around 6.5 million passenger movements, marking the
ninth consecutive record year for Malta IAP.
He then
went on to focus on the company's recently approved master plan, which will see
Malta IAP invest at least €100 million into the development
of the terminal and the surrounding airport campus over the medium term.
"Our
commitment to invest in both our aviation and non-aviation segments in a way
that enables us to keep growing sustainably is etched in our corporate
strategy, and our master plan is a means by which we will honour this pledge," said Mr Borg.
Looking
at the more immediate future, Mr Borg went on to highlight that in the last
quarter of 2018, works will be kicked off on the construction of a multi-storey
car park with an investment totalling around €20 million. Other investments for
this year include the extension of the airport’s cargo village, further
terminal upgrades, and security and operational improvements.
During
the meeting, shareholders approved a total net dividend of €0.10c per share for
2017. (Source: maltairport.com, 8-May-2018)