MIA's Profits For 2018 Rose By More Than €6 Million

21st February 2019

Increases in revenues were registered by both the company’s aviation and non-aviation activities.

Malta International Airport’s company profits for 2018 increased from €24.2 million to €30.3 million over 2017.

The news was announced after the meeting of MIA’s Board of Directors, during which increases in revenues registered by both the company’s aviation and non-aviation activities were announced.

Group revenues for the year were €92,191,719, up from €82,369,154 in 2017.

Aviation revenues, which grew by 11.1 per cent to total €65.5 million, are largely attributable to an increase of 13.2 per cent in traffic, which reached a new all-time high of 6,808,177 passenger movements in 2018.

With an increase of 14.1 per cent to reach €26.7 million, the company’s non-aviation activities also delivered positive results, in line with its corporate strategy. A positive trend was registered across most of the revenue streams within the retail and property portfolio, with particularly noteworthy contributions from the airport’s retail outlets and SkyParks Business Centre.

Within this portfolio, the Company’s VIP products registered the biggest increase over 2017 (+36.3 per cent).

The Earnings before Interest, Taxation, Depreciation and Amortisation (EBITDA) of the Group increased from €48.6 million to €54.4 million.

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Reported profit before tax for the year ended 31 December 2018 decreased by €11.3m or 23 per cent, compared to the previous year.