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Malaysia Airports Holdings Berhad Records Rm543.2 Million Net Profit, Surpassing Net Profit In Fy2019

Improved financials in tandem with continued passenger recovery

SEPANG – The Malaysia Airports Holdings Berhad Group (Malaysia Airports or the Group) today reported its financial results for the financial year ended 31 December 2023 (FY2023), reporting a net profit of RM543.2 million against a net profit of RM187.2 million in the financial year ended 31 December 2022 (FY2022). Encouragingly, despite traffic not having fully recovered to pre-pandemic levels, the net profit that the Group recorded in FY2023 was higher than the pre-pandemic net profit of RM537.0 million recorded in FY2019. Correspondingly, the Group declared a final dividend of 10.80 sen per share for FY2023.

The Group’s revenue rose 57.2% to RM4.91 billion, while the Group’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) almost doubled to RM2.29 billion from RM1.19 billion a year ago. The Group recorded a Profit Before Tax (PBT) of RM506.1 million, a significant improvement from the PBT of RM184.6 million it recorded in FY2022. The improved financial performance was driven by the continued recovery in passenger traffic as well as higher commercial and retail contribution. 

With a total of 119.5 million passenger movements in FY2023, Group passenger traffic increased by 42.4% against FY2022, and recovered by 84.6% against FY2019. Passenger movements from the Group’s Malaysia operations increased to 81.9 million, an increase of 55.4% against FY2022 and recovery of 77.8% against pre-pandemic levels. Its Türkiye operations saw an increase of 20.5% in passenger movements, recording 37.6 million passengers in FY2023. The number of passengers in FY2023 also surpassed the 36.0 million passengers recorded in FY2019, with international passengers making up 52% of the total passenger movements in FY2023. The resurgence in passenger traffic is attributed to several factors, including the increase in traveller’s confidence and demand, expansion of airline routes, the resumption of Northern Asia traffic rights, launch of new airline operations and China’s reopening of borders on 8 January 2023. 

The Group also witnessed a 57.1% growth in its non-aeronautical revenue, primarily due to better contribution of commercial and retail revenue from both its Malaysia and Türkiye operations.

Acting Group Chief Executive Officer, Mohamed bin Rastam Shahrom said, “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.” 

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. 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. 

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