Malta International Airport plc reported that its net profit for 2016 totalled € 20.98 million, translating into an upturn of 8.9% over the preceding year.

Results of the Company’s performance during 2016 were presented at Malta International Airport’s 25th Annual General Meeting, which was held today. The Company’s financial growth was achieved on the back of a 10% increase in passenger traffic and an improvement of 5.1% in its non-aviation segment.

This positive performance drove Malta International Airport’s contribution to the Government, in annual taxes on income coupled with dividends from its 20 per cent shareholding in the company, up to €14.1 million.

In his address, MIA Chairman Nikolaus Gretzmacher noted how much Malta International Airport has changed over the past 25 years, both in terms of annual passenger movements, which have now surpassed the five million mark, and in terms of infrastructure. He went on to say that, as a key contributor to Malta’s economy, Malta International Airport’s ultimate commitment remains that of delivering results that bear a positive impact on the islands as a whole.

“Operating in a financially sound manner ensures that we can maintain our responsibility in supporting the 4,000 jobs that depend on our airport and allows us to create more career opportunities,” said Mr Gretzmacher.
In his review, MIA CEO Alan Borg presented details of the Company’s growth across its key financial indicators, an in-depth traffic report, and planned investments for 2017 adding up to €16 million.

“Investing in our airport is an ongoing process, which enables us to host a growing number of passengers, whilst providing them with the best possible experience in delivering Malta’s first and last impression. Our four-star rating from Skytrax and third place in the Airport Service Quality Awards in 2016 indicate that, thus far, we have been successful in doing this,” said Mr Borg.

Mr Borg shared with those present an in-depth look at the first phase of Malta International Airport’s reconfiguration project. Upon completion of this €12 million investment, the terminal will be furnished with additional check-in desks and a security screening area occupying double its current footprint with family and fast-track lanes. He also noted that, as part of the project, a new La Valette Lounge had opened its doors to guests in mid-March, offering them an improved, luxury experience.

During the meeting, shareholders approved a total net dividend of €0.10c per share for 2016. After the AGM the following directors were confirmed in office for the forthcoming year: Nikolaus Gretzmacher, Cory Greenland, Rita Heiss, Wolfgang Koeberl, and Florian Nowotny as Non-Executive Directors, and CEO Alan Borg and CFO Karl Dandler as Executive Directors.

MIA also announces the reconfirmation of Alan Borg as Chief Executive Officer for another three-year term. The contract was duly signed on Tuesday 9th May 2017.