“Malta International Airport reports €39.5 million profit in the first nine months of 2024…”

The Company’s net profit for the first nine months of 2024 stood at €39.5 million.

In a statement, MIA highlighted that October passenger traffic surged by 8.7 percent year-on-year. The airport also reported a net profit of 39.5 million euros (41.9 million U.S. dollars) for the first nine months of 2024, with total revenue reaching 107.8 million euros.

As Malta’s sole air terminal, Malta International Airport connects the Maltese archipelago to over 100 destinations. In 2023, the airport welcomed 7.8 million passengers, marking a growth of 6.7% in passenger traffic over 2019.

October Traffic Results

Traffic through Malta International Airport grew by 8.7% in October, compared with the same month last year, as passenger volumes exceeded the 800,000 milestone for the first time to total 838,393 movements.

With a strong traffic performance, which saw Malta International Airport handle 6,896,928 passengers between January and September 2024, the Group generated €107.8 million in revenue, reflecting an increase of 17.7% over the prior-year period.

Increased operational demand inevitably drove expenses related to human resources and airport operations upwards, with these costs stemming primarily from resource capacity planning to maintain business performance. Capital expenditure for the first nine months of 2024 totalled €39.7 million, as works on major infrastructural projects, including the construction of Apron 8 South, the first phase of the Terminal Expansion Project, and the development of an upgraded VIP Terminal, continue apace. 

While seat capacity increased by 6.5% year on year, Seat Load Factor (SLF) also registered an uptick of 1.8% points to stand at 86.5%. With a combined market share of just over 50%, Italy, the United Kingdom and Germany continued to dominate Malta International Airport’s market leader board in October. While the French and Polish markets secured the fourth and fifth positions respectively, the latter registered the most substantial year-on-year improvement, with a growth rate of 49.8%.

The Company’s net profit for the first nine months of 2024 stood at €39.5 million.

Revised Guidance

With a strong nine-month performance that has given Malta International Airport a confident outlook for full year 2024, leading the Company to adjust the guidance published in May 2024 to the following:

Traffic to reach 8.96 million passenger movements 

Revenue to total €141 million

EBITDA to reach €85 million

Net Profit to amount to €46 million

CAPEX to be €64 million

Malta Company Announcements:

Maltapost p.l.c

The Board of Directors of MaltaPost p.l.c. will be meeting on Thursday 19 December 2024 to consider and approve the MaltaPost p.l.c. Financial Statements for the year ended 30 September 2024.

PG p.l.c

The Board of Directors of PG p.l.c. announces that it shall be convening on 26 November 2024 in order to consider and, if deemed fit, approve the distribution of an interim dividend for the financial year ending 30 April 2025. 

GPH Malta Finance p.l.c

The Company hereby announces that its Board of Directors is scheduled to meet on the 14th November 2024 to consider, and if appropriate, approve the Company’s Interim Financial Statements for the period ending 30th September 2024. 

GO p.l.c

Reference is made to an announcement made by the Company dated 25th October 2024 in which it was announced that the shareholders of Klikk Finance p.l.c. (“Klikk”) and the Company had entered into a share purchase agreement in relation to the acquisition of 100% of the shares in Klikk.  The conditions precedent have been satisfied and 100% of the shares in Klikk have been acquired by the Company.

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