“Malta International Airport expects to welcome 8.45 million passengers in 2024…”

Malta International Airport announced that it is adjusting its traffic forecast and financial guidance for 2024, as it expects to welcome 8.45 million passengers by the end of the year, surpassing 2023 results by approximately 650,000 passenger movements.

“Building on the record results achieved in 2023, the airport reported a strong first quarter in 2024, with the remaining months of the year expected to follow a similarly steady growth trajectory.”

774,562 passengers travelled through the airport in April

Malta International Airport welcomed 774,562 passengers in April, posting a 9.3% growth in traffic volumes over the same period in 2023. “This result was achieved in parallel with a 9.6% increase in aircraft movements.”

While seat capacity deployed by airlines climbed by 10.5% over 2023, the average seat occupancy on flights decreased marginally to stand at 83.8%, the airport said.

“April’s top markets were Italy, the United Kingdom, Germany, France and Poland. While the United Kingdom (+23.9%), Germany (+4.5%) and Poland (+47%) outperformed their respective 2023 results, the Italian and French markets suffered a year-on-year drop of 2.8% and 3.8%, respectively.”    

Malta International Airport revises guidance for 2024

“In light of the strong results achieved thus far, and the positive outlook for the remaining months of 2024, Malta International Airport has adjusted the guidance for the year, and now expects: Revenue to total €132 million; EBITDA to reach €82 million; Net Profit to amount to €44 million; CAPEX to be between €60 million”

HSBC BANK MALTA p.l.c. – INTERIM DIRECTORS’ STATEMENT

HSBC Bank Malta p.l.c. (the ‘bank’) continued to report strong profits with reported profit before tax for Q1 2024 of €39.3m, an increase of 48% over the €26.5m profit reported in the same period last year.

The higher interest rate environment was the biggest contributor to the increase in profits. Good progress was reported on the non-interest income while lower Expected Credit Losses (‘ECL’) recoveries were registered. Revenue was up €14.6m or 29% when compared to Q1 2023. This was mainly driven by higher net interest income earned on the placement of excess liquidity due to the higher interest rate environment. The bank additionally registered higher business volumes resulting in an increase in net fee income, foreign exchange and insurance income.

The bank recorded an improvement in the credit quality of its loan book, resulting in a release of ECL of €1.8m in Q1 2024 compared to a release of €3.7m in Q1 2023. The Q1 2024 release reflected a generic improvement in the credit quality of the book.

The bank managed to maintain costs at the same level as the same period last year despite the impacts of inflation and the continued investment in our people, technology, and premises. Net loans and advances to customers remained broadly in line with Q4 2023 levels. Customer deposits decreased marginally mainly driven by a decrease in operational corporate deposits.

 

Malta Company Announcements:

Hudson Malta p.l.c

The following resolutions were adopted by the Company’s shareholders during the Annual General Meeting held on 13th May 2024:

1. the Company’s shareholders approved the Audited Financial Statements, the Auditors’ Report and the Directors’ Report for the financial year ended 31st December 2023;

2. the Company’s shareholders approved the re-appointment of PricewaterhouseCoopers of 78, Mill Street, Zone 5, Central Business District, Qormi CBD 5090, Malta as the Company’s auditors and authorised the Board of Directors to fix their remuneration; and

3. the Company’s shareholders approved the re-appointment of the current Directors up to the next Annual General Meeting in accordance with the Company’s articles of association. Accordingly, the Board of Directors remains composed by Mr Alfred Borg (executive Director, Chairman), Mr Christopher Muscat (executive Director), Mr George Amato (executive Director), Mr Kevin Valenzia (independent, non-executive Director), Mr Victor Spiteri (independent, non-executive Director) and Mr Brian Zarb Adami (independent, non-executive Director).

The shareholders took note of the Board of Directors’ resolution dated 22nd April 2024 recommending that no final dividend be declared in respect of the financial year ended 31st December 2023 and approved said recommendation.

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