MIA announces net profit of nearly €30 million, excluding tax credit

Images-Rene Rossignaud

Last Updated on Thursday, 23 February, 2023 at 1:28 pm by Andre Camilleri

Malta International Airport plc (MIA) announced that the Group’s net profit, exclusive of a tax credit used by the Company in 2022, amounted to €26.9 million compared to a net profit of €7 million reported in 2021.

“With the €12 million tax credit awarded to the Company for the losses suffered due to the COVID-19 pandemic, the Group’s net profit reached €38.9 million.”

In a company announcement on the Malta Stock Exchange, MIA said that the total revenue generated in 2022 amounted to €88 million, with the aviation segment contributing 66.3% of this total and the non-aviation segment contributing 33.7%. The aviation segment grew by 110% over the previous year on the back of a strong recovery of 80% of pre-pandemic passenger numbers, while the non-aviation segment registered a more modest increase of 51.3%.

“Additionally, the Group’s robust financial health was reflected through an increase of 128% in the Earnings before Interest, Taxation, Depreciation and Amortisation (EBITDA) which reached €54.9 million together with an improvement of 11.6 percentage points in the EBITDA margin, which stood at 62.4%.”

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