Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Malta
  4. Malta Stock Exchange
  5. Malta International Airport p.l.c.
  6. News
  7. Summary
    MIA   MT0000250101

MALTA INTERNATIONAL AIRPORT P.L.C.

(MIA)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Malta International Airport p l c : October 2021 Traffic and Q1-Q3 2021 Financial Results

11/12/2021 | 11:56am EST

COMPANY ANNOUNCEMENT

Malta International Airport plc (the "Company")

October Traffic Results & Q1-Q3 2021 Financial Results

Date of Announcement

12 November 2021

Reference

357/2021

In terms of Chapter 5 of the Listing Rules

QUOTE

With 428,426 passenger movements registered, last October became Malta International Airport's best performing month since the outbreak of the COVID-19 pandemic. Despite this encouraging result, which can be partly attributed to the easing of more entry restrictions by government and the mid-term holiday effect, last month's traffic was still 39.1 per cent lower than October 2019 levels.

This decline in passenger numbers over October 2019 was registered in parallel with a drop of 28.5 per cent in aircraft movements and a decrease of 27.7 per cent in seat capacity. Seat load factor (SLF), on the other hand, stood at 69.3 per cent, which translates into a drop of 13 per cent compared to the same month in 2019.

The United Kingdom, which simplified testing requirements for fully vaccinated travellers at the beginning of October, continued to top the list of Malta International Airport's best-performing markets, registering just over 110,800 passenger movements. Italy, Germany, France and Spain followed the United Kingdom with a cumulative total of 170,991 passenger movements.

FINANCIAL RESULTS Q1 - Q3 2021

Malta International Airport plc today also approved the Group's financial statements for the period between January and September 2021. The Group's financials reflect the challenges and uncertain environment within which Malta International Airport continues to operate.

Totalling €32.29 million, the revenue generated by the Group within the first three quarters of the year was 58.2 per cent below 2019 levels for the same comparable period.

Malta International Airport plc continued to exercise a cautious approach towards the management of its financials through a number of cost-cutting and liquidity-preservation initiatives, which were extended into 2021 from the previous year. As a result of these initiatives, the Company lowered its staff costs by a further 21.2 per cent and brought its operating costs down by 3.7 per cent over the same period in 2020.

Malta International Airport's continued efforts to mitigate the negative effects of the COVID-19 crisis together with more favourable traffic results for Q3 2021 allowed the Company to close the first nine months of the year marginally in the black. A more detailed break-down of Malta International Airport plc's financial performance during the period under review may be found in the attached Statement of Comprehensive Income and Statement of Financial Position.

Malta International Airport has now entered the winter season, which has traditionally always been slower than the summer months in terms of passenger activity. While the Company is bracing for another tough winter, characterised by continued travel restrictions, suppressed consumer confidence, and uneven recovery levels across the aviation industry, it is optimistic that the coming months will mark an improvement over winter 2020.

Statement of Comprehensive Income (SOCI)

Consolidated Income Statement (unaudited)

The Group

unaudited | in EUR

Q1 - Q3 2021

Q1 - Q3 2020

Revenue

32,287,428

24,989,010

Staff costs

(4,593,546)

(5,825,827)

Other operating expenses

(11,866,612)

(12,326,735)

Impairment losses on financial assets

(60,614)

(33,124)

Depreciation

(8,219,268)

(6,909,497)

Release of deferred income arising on the

sale of terminal buildings and fixtures

212,702

212,702

Investment income

11,598

19,096

Finance cost

(1,585,692)

(1,572,250)

Profit / (Loss) before tax

6,185,996

(1,446,625)

Income tax (expense) / credit

(2,371,160)

274,017

Profit / (Loss) for the year attributable to the

ordinary equity holders of the Company, net of

tax

3,814,836

(1,172,608)

Statement of Financial Position (SOFP)

30 September

31 December

The Group

2021

2020

in EUR

unaudited

audited

Assets

Property, plant and equipment

169,800,535

171,757,898

Investment property

15,112,993

15,279,512

Other Receivables

1,402,934

1,341,670

Deferred tax assets

6,361,155

7,763,643

Non-current assets

192,677,617

196,142,723

Inventories

839,425

834,888

Trade and other receivables

18,140,251

6,973,317

Term deposits

7,500,000

5,000,000

Cash and short term deposits

12,981,139

26,047,282

Current assets

39,460,815

38,855,487

Total - Assets

232,138,432

234,998,210

Equity and liabilities

Equity attributable to ordinary

equity holders of the Company

Share capital

33,825,000

33,825,000

Retained earnings

94,782,462

90,967,626

Total - Equity

128,607,462

124,792,626

Lease liability

53,528,819

53,168,052

Deferred income

5,818,003

6,127,652

Other Payables

809,282

2,340,067

Provision for retirement benefit

plan

3,948,729

3,920,722

Provision for MIA benefit fund

353,051

319,851

Non-current liabilities

64,457,884

65,876,344

Trade and other payables

38,104,473

43,992,610

Current tax liabilities

968,612

336,630

Current liabilities

39,073,085

44,329,240

Total - Liabilities

103,530,969

110,205,584

Total - Equity and Liabilities

232,138,432

234,998,210

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. The Company has consistently invested in the terminal since the airport's privatisation in 2002, with the Terminal Reconfiguration Project 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, such as the Terminal Expansion Project, set to bring about further expansion. The airport team is guided by a vision of service excellence, which led MIA to clinch the title Best Airport in Europe for two consecutive years. To maximise its contribution to Malta's cultural heritage and environment, MIA set up the Malta Airport Foundation in 2014: an independently run non-profit organisation.

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%).

Disclaimer

Malta International Airport plc published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 16:55:08 UTC.


ę Publicnow 2021
All news about MALTA INTERNATIONAL AIRPORT P.L.C.
01/21MALTA INTERNATIONAL AIRPORT P L C : Jan, 2022 Malta International Airport awarded the &lsq..
PU
01/18MALTA INTERNATIONAL AIRPORT P L C : Jan, 2022 2.5 million passengers travelled through Mal..
PU
01/18MALTA INTERNATIONAL AIRPORT P L C : 2021 Traffic Results and Appointment of New Head
PU
2021DEC, 2021 HOLIDAY TRAVEL TAKES OFF A : What Can Passengers Expect?
PU
2021MALTA INTERNATIONAL AIRPORT P L C : Dec, 2021 Malta International Airport welcomes 315,900..
PU
2021MALTA INTERNATIONAL AIRPORT P L C : November Traffic Results
PU
2021MALTA INTERNATIONAL AIRPORT P L C : Dec, 2021 Malta Airport Becomes The First European Air..
PU
2021MALTA INTERNATIONAL AIRPORT P L C : Nov, 2021 Malta International Airport plc honoured wit..
PU
2021MALTA INTERNATIONAL AIRPORT P L C : October 2021 Traffic and Q1-Q3 2021 Financial Results
PU
2021MALTA INTERNATIONAL AIRPORT P L C : Nov, 2021 428,426 passengers travelled through Malta I..
PU
More news
Financials
Sales 2020 32,2 M 36,4 M 36,4 M
Net income 2020 -4,25 M -4,80 M -4,80 M
Net Debt 2020 22,1 M 25,0 M 25,0 M
P/E ratio 2020 -197x
Yield 2020 -
Capitalization 785 M 888 M 886 M
EV / Sales 2019 9,51x
EV / Sales 2020 26,7x
Nbr of Employees -
Free-Float 54,5%
Chart MALTA INTERNATIONAL AIRPORT P.L.C.
Duration : Period :
Malta International Airport p.l.c. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MALTA INTERNATIONAL AIRPORT P.L.C.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Managers and Directors
Alan Borg Chief Executive Officer & Executive Director
Karl Dandler Chief Financial Officer & Executive Director
Nikolaus Gretzmacher Chairman
Ian Maggi Head-Innovation & Technology
Kevin Alamango Head-Technical Services