Malta International Airport: Interim Financial Results for first half of 2012 approved

July 18, 2012 flight2000it

During the meeting of the Board of Directors of Malta International Airport plc held on Tuesday 17th July 2012, the Group’s interim financial statements for the six months ended 30th June 2012 were approved.

The Group’s turnover for the period is marginally higher than the same period in 2011 at €22.71 million (Jan to Jun 2011 – €22.67 million). Revenue from aviation fees represents 71.9% (2011- 72.6%) of the total revenue of the Company whilst the Retail & Property segment is 27% (2011- 25.7%) of the total revenue. Staff costs have decreased from €4.5 million to €3.7 million (18%) due to a reduction in staff as a result of early retirement schemes implemented in 2010 and 2011. Other operating costs went up from €8.8 million to €9.3 million (an increase of 5.8%).

The profit for the period is €4.48 million compared to the €3.96 million of the same period of 2011, an increase of 13%.

The Board of Directors noted with satisfaction that the restructuring plan of the home carrier, Air Malta, as submitted by the Government of Malta, has been approved by the European Commission. This decision augurs well for the airline as well as for the future prospects of additional traffic to Malta. The Board will continue to assess the situation on an on-going basis.

In its statement, the Board also referred to one of the recent major investments made by the Group, the SkyParks Business Centre, which is undergoing last minute finishing touches and will be receiving its first tenants in the coming days.

Updated Forecast

Taking into account the traffic registered during the first six months, together with the most recent flight schedules, the Company is revising its forecast in so far as passenger figures for 2012 to a +1.5% over 2011. This amounts to c. 3.56 million passengers.

Dividends

The Group is proposing a net interim dividend of €0.03 per share on all shares settled as at close of business on Monday 30th July 2012 and payable by not later than Monday 10th September 2012.

The interim financial statements are available for viewing at the registered office of the Company and on the Company’s website