Registering a strong RM3.5 billion revenue driven by both Aero and Non-Aero Revenue
SEPANG – The Malaysia Airports Holdings Berhad Group (Malaysia Airports or the Group) today reported its financial results for the quarter ended 30 September 2023 (3Q23) and first nine months of the year (9M23), reporting a net profit of RM255.5 million in 9M23 compared to a net loss of RM171.9 million in the same period last year. A continued recovery in passenger movements coupled with improved commercial and retail contribution led to a 66.8% higher revenue of RM3.5 billion, while the Group’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) doubled to RM1.6 billion from RM860.0 million a year ago. The Group recorded a Profit Before Tax of RM284.3 million.
Acting Group Chief Executive Officer, Mohamed bin Rastam Shahrom said, “With the Group’s improved financial performance and operating environment, we are focusing on improving passenger journey and experience across our network of airports. Together with ongoing airport modernisation and commercial rejuvenation, digitalisation and service improvements, we are confident that the Group will sustain its value accretion position in the near term.”
Group passenger traffic recovered by 84.5% against pre-pandemic levels as the Group’s Malaysia operations saw 60.7 million passenger movements in 9M23, an increase of 72.1% from 9M22, and a 77.8% recovery against pre-pandemic levels. Meanwhile, its Türkiye operations saw an increase of 22.8% in passenger movements to 28.1 million passengers in 9M23, surpassing the 27.0 million passenger movements recorded in the same period in 2019. The Group also witnessed a 65.2% growth in its non-aeronautical revenue, primarily due to better contribution of commercial and retail revenue from both its Malaysia and Türkiye operations.
The Group continues to be encouraged by the buoyant demand for air travel and is hopeful that passenger movements will continue its trajectory in the final quarter of the year, driven by resumption and introduction of new airline services, school holiday peak travel season and a continued recovery of Chinese inbound traffic. In addition, the Group has been actively intensifying its efforts to expand network connectivity at its airports, with the anticipated results that the number of airlines operating at KL International Airport (KUL) in 2024 will exceed 2019. This proactive approach aligns with the Group’s commitment to meet the escalating demand for air travel and further solidify its position in the aviation industry.