COMPANY ANNOUNCEMENT
Malta International Airport plc (the "Company")
Interim Directors' Statement
Date of Announcement | 06 November 2019 |
Reference | 311/2019 |
In terms of Chapter 5 of the Listing Rules |
QUOTE
The Company hereby announces that since the announcement issued on 25 July 2019 and the date of this announcement, no material events and/or transactions have taken place that would have an impact on the financial position of the Company, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules, and which have not been otherwise announced through a Company Announcement.
During the period under review (1 January 2019 to 30 September 2019), the financial position of the Company remained sound and its performance was superior to 2018.
Revenue in first nine months of 2019 totalled € 77.3 million, an increase of 9.2% when compared to the first three quarters of 2018. Total expenditure increased by a moderate 3.7% to € 27.7 million, while the profit for the period increased by 8.1% to € 26.9 million. Capital expenditure from January to September 2019 totaled €
12.8 million. The attached Statement of Comprehensive Income and Statement of Financial Position illustrate the positive development in the first three quarters of 2019.
With the winter schedule now launched and traffic projections remaining in line with expectations, the Company is optimistic that the last months will follow the positive trend registered thus far and expects to be above the financial guidance set out in the Company Announcement 293/2019, published in January 2019.
UNQUOTE
Signed:
Louis de Gabriele
COMPANY SECRETARY
About Malta International Airport
Malta International Airport connects the Maltese archipelago to over 100 destinations in more than 30 countries. Being Malta's only air terminal, the airport hosts more than six million passengers annually, of which the majority are inbound tourists. To be able to cater for an ever-increasing number of passengers, the company has consistently invested in the terminal since the airport's privatisation in 2002, with the Terminal Reconfiguration Project set to be completed in 2018 bringing about the most recent overhaul. The airport campus itself has grown to provide over 1,500 parking spaces, and 14,000m² of office and retail space housed within SkyParks Business Centre, with projects in the offing set to bring about further expansion. The airport team is guided by a vision of service excellence, which has landed MIA among the top five airports in ACI's prestigious Airport Service Quality Awards for the past nine years. To maximise its contribution to Malta's cultural heritage and environment, MIA set up the Malta Airport Foundation, an independently run non-profit organisation, which will be unveiling three projects in 2018.
Malta International Airport plc is a public company listed on the Malta Stock Exchange, with its shareholders being the Malta Mediterranean Link Consortium (40%), with Flughafen Wien AG owning a 96% share, the Government of Malta (20%), the general public (29.9%), and VIE Malta Limited (10.1%).
For more information, visit www.maltairport.com. Alternatively, follow us on Facebook (facebook.com/maltairport).
Attachment to Company Announcement 311/2019
Consolidated Statement of Comprehensive Income
The Group
unaudited | in EUR | Q1-Q3 2019 | ||
Revenue | 77,287,200 | ||
Staff costs | (7,670,873) | ||
Other operating costs | (20,001,807) | ||
Depreciation | (6,506,557) | ||
Investment Income | 27,644 | ||
Finance Cost | (1,559,651) |
Q1-Q3 2018
70,802,784
(6,834,807)
(19,854,412)
(5,447,383)
209
(180,561)
Release of deferred income arising on the sale of terminal buildings
Profit before tax
Income tax expense
Profit/Total Comprehensive Income after tax for the period attributable to the ordinary equity holders of the Company, net of tax
156,574
41,732,531
(14,832,961)
26,899,570
156,574
38,642,404
(13,749,128)
24,893,276
Consolidated Statement of Financial Position
The Group | 30 September 2019 | 31 December 2018 | ||
in EUR | unaudited | audited | ||
Assets | ||||
Tangible assets | 175,582,469 | 123,585,716 | ||
Deferred tax assets | 5,106,160 | 5,085,728 | ||
Non-current assets | 180,688,629 | 128,671,444 | ||
Inventories | 871,040 | 884,352 | ||
Trade and other receivables | 26,467,575 | 20,002,906 | ||
Term deposits | 5,000,000 | - | ||
Cash and short term deposits | 24,586,707 | 20,253,186 | ||
Current assets | 56,925,322 | 41,140,444 | ||
Total - Assets | 237,613,951 | 169,811,888 | ||
Equity and liabilities | ||||
Equity attributable to ordinary equity | ||||
holders of the Company | ||||
Share capital | 33,825,000 | 33,825,000 | ||
Other reserve | 1,094,333 | 1,130,817 | ||
Retained earnings | 88,375,139 | 77,655,440 | ||
Total - Equity | 123,294,472 | 112,611,257 | ||
Lease liability | 52,249,062 | - | ||
Deferred income | 5,078,272 | 5,127,504 | ||
Provision for retirement benefit plan | 3,667,246 | 3,906,809 | ||
Provision for MIA benefit fund | 278,828 | 250,638 | ||
Non-current liabilities | 61,273,408 | 9,284,951 | ||
Trade and other payables | 45,614,314 | 46,575,104 | ||
Current tax liabilities | 7,431,757 | 1,340,576 | ||
Current liabilities | 53,046,071 | 47,915,680 | ||
Total - Liabilities | 114,319,479 | 57,200,631 | ||
Total - Equity and Liabilities | 237,613,951 | 169,811,888 |
Attachments
- Original document
- Permalink
Disclaimer
Malta International Airport plc published this content on 06 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2019 15:19:05 UTC