Malaysia Airports FY16 earnings up 72% to RM70m

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) reported earnings of RM70.38mil in the financial year ended Dec 31, 2016 (FY16), boosted by the stronger Malaysian operations but negated by the higher losses from its overseas operations.

MAHB said on Tuesday its earnings were up 72% from the RM40.94mil in FY15. Revenue increased by 7.8% to RM4.17bil from RM3.87bil.

The group recorded a profit before tax for FY16 of RM183.3mil, which was 300% higher than the RM45.9mil in FY15. 

“The favourable variance was contributed by Malaysia operations but negated by higher losses before tax from overseas operations,” it said. 

Commenting on the FY16 results, it said under the Malaysia operations, revenue from airport operations was RM2.964bil, up 9.3% from the RM2.711bil in FY15 due to higher aeronautical revenue.

Non-aeronautical revenue increased by 8.6% RM1.40bil from RM1.288bil due to higher retail and rental revenue by 10.0% or RM67.5mil and 7.1% or RM43.8mil respectively. 

MABH said passenger traffic for airports operated by MAHB in Malaysia for FY16 increased by 6.1% to 89.0 million passengers verus 83.8 million passengers in FY15. 

Both international and domestic passenger traffic increased by 8.1% and 4.3% respectively. Passenger traffic at KLIA-Main Terminal increased by 12.9% (international:+7.8%, domestic: +30.5%).Passenger traffic at klia2 increased by 3.0% (international:+6.1%, domestic:-2.8%). 

On its overseas airport operations, revenue for FY16 rose 4.6% to RM948.9mil from RM907.2mil in FY15 represented by revenue from ISG and LGM. The improvement was driven by higher passenger growth. 

For the fourth quarter, it posted earnings of RM33.32mil compared with net losses of RM39.84mil a year ago. Its revenue increased by 4.2% to RM1.080bil from RM1.036bil. Earnings per share were 0.49 sen compared with loss per share of 4.35 sen.