MIA announces year profit of €19.46m
Malta Airport said today that it made a pre-tax profit of €19.46 million in the financial year which ended in December 2012, up from €18.92 million in the previous year.
It said that its total income for the year net of tax increased from €11.9 to a record €12.46 million, 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.
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%. Pre-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," MIA said.
The financial statements as approved by the Board of Directors are available for viewing on the Company’s webportal: http://investors.maltairport.com
Dividend
The directors have resolved to propose a further gross dividend of €0.061538 (net €0.040) per share be paid to all shareholders on the register of members after settlement as at close of business on Friday April 19. This will bring the total and final dividend for the financial year to a gross final dividend of €0.107692.
The Annual General Meeting will be held on May 21.
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Pippo de Marco
Mar 21st, 17:00
Morally, I believe that most 'essential' industries such as electricity, gas, water etc. should be state-owned and, if necessary, subsidised, but I cannot understand why people object to MIA making a profit.
We NEED an Airport, but we need an airport that works. - Thankfully, MIA is up there with the best and is continuing to develop without state money. - Why is that a problem ?
Pippo de Marco
Mar 21st, 16:00
Morally, I believe that most 'essential' industries such as electricity, gas, water etc. should be state-owned and, if necessary, subsidised, but I cannot understand why people object to MIA making a profit.
We NEED an Airport, but we need an airport that works. - Thankfully, MIA is up there with the best and is continuing to develop without state money. - Why is that a problem ?
j brincat
Mar 21st, 07:16
One in a series of PN's gaffes over the years.
Privatising our one and only airport - when Malta is insular!
So, the profits of this private monopoly now go to foreigners!
jb
Anthony Pace Gouder
Mar 21st, 01:48
No wonder there is such a PROFIT, where practically every nook and cranny in this once elegant Terminal building has been taken up by commercial outlets to resembles MORE a glorified SUPERMARKET !
John F. Galea
Mar 20th, 22:16
We should all be proud of our national airport and its many facilities, especially on considering that we are only a tiny mid-med island. Shareholders look forward to the coming AGM as to publicly congratulate those at the helm and the workers alike. Our international airport is said to be one of the very best within the Mediterranean littoral. Further progress is expected in current year.
Pippo de Marco
Mar 20th, 19:59
MIA is performing extremely well in very difficult times. Not only are profits healthy, but customer satisfaction is very high and the airport frequently receives industry accolades. - MIA has its dissenters, but for a tiny island airport to deliver such results in a global recession, whilst continuing to develop its services is actually quite remarkable.
Well done to everyone at MIA.
Josephine Muscat
Mar 21st, 06:30
Definately another MIA shareholder
Joseph Mifsud
Mar 20th, 19:23
A company without competition, and does not transport any passengers !
Anthony Pace Gouder
Mar 21st, 01:32
To think that ALL THIS once belonged to AIRMALTA !
While the farmer sweats and ploughs all day long the maiden milks the cow. Ahleb Guz !
Sharon Grima
Mar 20th, 19:22
As expected.....the Gonzi Pn Game ....MIA the monopoly player thanks to our previous partit tal-klikkek and hbieb tal-hbieb with main foreign shareholders ,and Airmalta the victim of this leech,suck everyone dry MIA.Yes Mr.Sammut,you may know who the klikkek are, if you seem to defend the interest of MIA.
Joe Sammut
Mar 20th, 18:34
For every €1.82 you invest you get €0.107692 less 35% tax per annum.
Thank you, and well done MIA.
Josephine Muscat
Mar 20th, 21:11
You seem to be a shareholder mr Sammut eh.....
Charles Massa
Mar 20th, 18:34
Profitti sejrin ghand il barranin
george grech
Mar 20th, 20:14
Chal, fi zmienkhom ma kienx jaghmel profitt, ghax kien jaqbdek il hakk go fih.
Jigifieri tinkwietax, fejn kollna bqajna!!
Joe Sammut
Mar 20th, 18:29
@ John Attard : stop this nonsensical argumentation, it is clearly obvious that you’re not a MIA shareholder .
MIA is a Maltese company with Maltese shareholders ,it’s there to make a profit for the investments it is making.
MIA invested in Sky Parks and wants Air Malta to make a profit, it takes two to tango.
Now that we have a PL government , are you suggesting a takeover?
ANTHONY PAVIA
Mar 20th, 19:24
Mr Sammut, may I remind you that the MIA is Malta's sole international (and National) airport. As you may have noticed from my previous comments I am all in favour of competition, profit and private enterprise. However, Malta's only asset to/from the world by air is MIA; then, yes I am in favour of it being under public control. Incidentally, are most of the air traffic profits arising from KM?
Josephine Muscat
Mar 20th, 21:10
No I'm suggesting thinking outside the circle...being reasonable.....I have nothing against MIA shareholders but I do have a grudge against monopolies who decide themselves how much to charge each passenger as a landing fee. Wake up to a stark reality and in addition MIA is closing doors to other Low cost airlines! Nonsense my foot!
John Attard
Mar 20th, 18:00
If MIA had the national interest at heart it would decrease landing fees for Airmalta and other airlines. My maths outline that minimally Airmalta's charges can be reduced to Euro 15 per passenger whilst subsidy going to low cost would remain the same. MIA would still make a profit and would nearly make up the income lost from additional retailing. Some food for thought
John Attard
Mar 20th, 17:56
Now let us look at the broader picture. This is a classic example of a foreign company making money on Air Malta's back. So Air Malta pay landing fee of Euro 25 per passenger and Malta subsidizes low cost airlines , to the tune of Euro 18 per passenger.
Paul Meilak
Mar 20th, 17:29
Dan kollu frott ta' GonziPN !! Fejn huma dawk li ilhom 10 snin jikkritikaw ?
mark borg
Mar 20th, 20:11
iss nghidlek fejn hu il frott sur meilak !! dawn flusna sejrin ghand il barranin !!
A Montebello
Mar 20th, 17:15
It's funny how the elves come out in their multitudes to criticize anything related to Gonzi and his government. but when the dividends are reported.... there's barely a comment.
ANTHONY PAVIA
Mar 20th, 17:40
If you have to copy, do get it right, "Lil'Elves" is how your columnist writes it.
(1) What would you expect from a private monopoly given to a foreigner to milk! (2) Kindly go over the results again. You will realise the additional profit came from increased rents (under whatever guise it is given in a contract). The actual revenue from basic airport activity decreased although traffic increased
Alex Falzon
Mar 20th, 15:58
Ara meta nsiefru ma ngorrux.. avolja anke biex taghmel toilet trid thallas...
twanny borg
Mar 20th, 13:57
X'ma jaghmlux qliegh biex tipparkja l-ajruport sitt ijiem 38 euro. Il-gudja faccata tal-ajruport kollha sinjali blu vojta ghar-residenti u ruxmata tabelli bil-hin halli bilfors ikollok tidhol fil-car park tal-mia biex thallas. Veru monopolju dan il-pajjiz.
Christine Camilleri
Mar 20th, 15:11
Jekk taffordja issiefer ghal 6 t'ijiem u ghandek karozza certament taffrodja thallas €38. Teqridx zejjed.
M Fava
Mar 20th, 16:06
@Ms Camilleri
Some people don't travel for kicks. Some actually travel for work. Regardless of whether you afford to pay €38 or not, it's still a steep price.
twanny borg
Mar 20th, 16:13
@christine camilleri- zgur ma intix xi wahda li tahdemm ghal 3.75 euro is-siegha.
Christine Camilleri
Mar 20th, 17:10
Then use the bus! Let me guess, you can't even afford a day ticket? Then walk it!
M. Demicoli
Mar 20th, 22:02
You can always grab a Taxi... even if your flight is beyond the normal working times of Arriva
Brendon Borg
Mar 21st, 01:21
There are various options to arrive at the airport, however comfortability comes at a price. Tariffs are €7 for the first day, then an additional €5 per day. Surely not a clipjoint.
Peter Murray
Mar 20th, 13:36
How much of this profit may be attributed to charges and fees levelled against the MIA;s cash cow - Air Malta?
Please choose the reason of your report below: