Malta International Airport Group’s total comprehensive income for the year, net of tax, increased from €12.46 million to a record €14.47 million, signalling an increase of 16.1% over the previous year.

The news was announced following a Board of Directors meeting held on Tuesday.

The Revenue of the Group increased by €6 million from €52.8 million to €58.8 million. The Airport Segment increased by €3 million from €38.3 million to €41.3 million. This was largely driven by the 10.5% increase in passenger traffic. The Retail and Property Segment also increased by another €3 million from €14.1 million to €17.1 million.

This was the result of both the increase in retail and food and beverage sales to a larger number of passengers from the previous year as well as the introduction of new rental income from SkyParks Business Centre.

The Earnings before Interest, Taxation Depreciation and Amortization (EBITDA) of the Group increased by 15.8%; from €25.80 million to €29.89 million. There was also an increase in profit before tax. Profit increased from €19.46 million to €22.67 million, an increase of 16.5%.

The exceptionally good results of the Group were driven by and large by the unexpected large increase in volume of traffic during 2013. The financial results of the Group were higher still by adhering to strict cost control throughout the year for the whole Group, with special emphasis on the operating costs.

In so far as the Group operating costs are concerned, there were higher than those of 2012 by 7.9%, from €18.9 million to €20.4 million. The increase is a result of an increase of €0.5 million in marketing costs, which increased from €2.8 million to €3.3 million and an increase in the ground rent lease charge of €0.7 million. There were also marginal increases in other operational costs such as staff costs, utility costs and PRM charges.

The financial statements as approved by the Board of Directors are available for viewing on the Company’s web portal: http://investors.maltairport.com.

At the same meeting the Board of Directors approved a further gross dividend of €0.06923 (net €0.045) per share be paid to all shareholders on the register of members after settlement as at close of business on Tuesday 22nd April 2014 and payable by not later than Monday 9th June 2014.

This, together with the interim dividend already paid of a gross dividend of €0.046154 (net €0.030) per share affected on the 23rd of September 2013 shall be proposed to the shareholders as a final dividend for the financial year ended 31st December 2013. Based on the current 135,300,000 shares of the company, this is equivalent to a gross final dividend of €0.11538 (net €0.075).

The Directors have also scheduled the Annual General Meeting of the Company for Thursday 22nd May 2014. Shareholders on the registry of members at the Central Securities Depository as at close of business on Tuesday 22nd April 2014 shall be eligible to receive notice, attend and vote at the Annual General Meeting and to receive a copy of the Business Report with the notice.

At a meeting of the Board of Directors of the Company held on 4th March 2014, the Board of Directors approved the financial statements of the Company for the financial year ended 31st December 2013.

A preliminary statement of annual results is being attached herewith in terms of the Listing Rules. The financial statements are available for viewing on the Company’s website (www.maltairport.com).

Photograph by Kurt Arrigo

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