Malta International Airport plc- Announces approval of Financial Statements and Dividend Proposal

March 1, 2016
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

Malta International Airport plc announced the approval of financial statements and dividend proposal.

Following the meeting of the Board of Directors held today, the Company announced that the Company’s profits for the year increased from €16.8 million to €19.3 million. This increases signals that the Company is on the right path to proceed with the next stages of its ambitious investment plan for 2016 and beyond.

Increases in revenues were registered by both the Company’s aviation and non-aviation segments. The global sum of Group revenues for 2015 was €66,965,843, up from €64,290,433 in 2014. Aviation revenues, which grew by 4% to €46.4 million, are largely attributable to the record number of guests travelling through the airport last year. With an increase of 5% to €20 million, the Company noted that it had once again achieved its target split of 30% of Group revenues for its non-aviation segment. SkyParks Business Centre was a key driver for non-aviation results, most notably since it has now reached its full retail and office potential. Contributions from the airport’s retail outlets, car park, and VIP product also led to growth in non-aviation revenues.

The Earnings before Interest, Taxation Depreciation and Amortisation (EBITDA) of the Group increased from €33.8 million to €35.6 million.

At the said meeting the Board of Directors approved the financial statements for the financial year ended 31st December 2015. These statements can be viewed on the Company’s web portal: http://investors.maltairport.com.

The Board of Directors also approved a further gross dividend of €0.107692 cents per share be paid to all shareholders on the register of members after settlement as at close of business on Monday 4th April 2016, payable by not later than 19th May 2016. This, together with the interim dividend already paid, shall be proposed to the shareholders for the financial year ended 31st December 2015, for a gross final dividend of €0.153846 cents (net €0.10). 

Finally, the Directors have also scheduled the Annual General Meeting of the Company for Wednesday 4th May 2016. Shareholders on the registry of members at the Central Securities Depository as at close of business on Monday 4th April 2016 shall be eligible to receive notice, attend, and vote at the Annual General Meeting and to receive a copy of the Business Report. 

To view the official Company Announcement, click here.