MAHB reports almost 3-fold profit jump to RM543.2mil in FY23


Mohamed Rastam Shahrom

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) is actively enhancing network connectivity at its airports to meet the rising demand for air travel.

“To meet the rising demand for air travel, the group is actively enhancing network connectivity at its airports, aiming for a greater number of airlines operating at KL International Airport (KUL) in 2024 compared to 2019,” acting group chief executive officer Mohamed Rastam Shahrom said in a statement.

He said the group continues to be encouraged by the buoyant demand for air travel, with latest airlines seat capacity filing for 2024 showing a 13% increase over 2023.

In the fourth quarter ended Dec 31, MAHB posted a 19.9% drop in net profit to RM287.7mil, or earnings per share of 16.41 compared with RM359.1mil, or 20.77 sen last year.

Revenue, however, jumped 36.8% to RM1.37bil against RM1bil a year earlier.

For the full financial year ended Dec 31, 2023 (FY23), the group posted a net profit of RM543.2mil, up from RM187.2mil a year ago while revenue grew to RM4.9bil from RM3.1bil previously.

The airport operator said the improved financial performance was driven by the continued recovery in passenger traffic as well as higher commercial and retail contributions.

MAHB declared a final dividend of 10.80 sen per share for FY23.

With a total of 119.5 million passenger movements in FY23, group passenger traffic increased by 42.4% against FY22, and recovered by 84.6% against FY19.

Passenger movements from the group’s Malaysia operations increased to 81.9 million, an increase of 55.4% against FY22 and recovery of 77.8% against pre-pandemic levels.

MAHB said its Türkiye operations saw an increase of 20.5% in passenger movements, recording 37.6 million passengers in FY23.

“We have worked hard to deliver value to our stakeholders in the past year. Amidst improved operating conditions we have managed to deliver improved financial performance, and we are making good progress in our airport modernisation, digitalisation and commercial rejuvenation programmes.

“We are now laying the foundation for future growth and sustained value accretion with our 3-year strategic business plan, while remaining committed to improving our passengers’ journey and experience across our network of airports, in alignment with our vision to be a global airport group that champions connectivity and sustainability,” Mohamed said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

MAHB , dividend , air travel

   

Next In Business News

MIDF boosts security after cyber Incident
Gas Malaysia distribution adjusts tariff down
RHB IB expects 4.2% y-o-y for 1Q GDP print
Miti closely monitoring situation in Middle East for possible escalation in conflict
Ringgit continues to appreciate vs USD at close
Fajarbaru wins RM13.33mil contract from Malaysia Airports
Fitters Diversified bags RM26.1mil subcontract from IJM Construction
CIMB Thai 1Q net profit dips 24.6% to 626.1 million baht
Maxis ready to build another 5G network, fully supports govt 5G delivery model
Iconic Worldwide raises RM95.6mil in oversubscribed rights issue

Others Also Read