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The Annual General Meeting of Malta International Airport plc was held on Thursday, during which, the Financial Statements of the Company for the financial year ended 31st December 2011, were approved. The AGM also approved a total net dividend for 2011 of €0.07 per share which represents a total payment of €9,471,000.
Welcoming the shareholders, Malta Airport outgoing Chairman Andreas Schadenhofer said that there is no doubt that the financial and operational results for 2011 are nothing short of remarkable.
He added that “having once again ranked as ‘Best European Airport’ across all categories in the Airport Service Quality (ASQ) Survey by the Airports Council International (ACI) is a key indicator that we really are putting our passengers at the centre of our activity and a case of knowing that the shareholders’ investment is reaping the desired results, not only from the financial aspect, but also from an operational and reputational perspective.”
In concluding, Mr Schadenhofer thanked the management and staff for their commitment and dedication, with a special word of thanks to former CEO Julian Jaeger “for his leadership and vision as together with the team managed by him, the Company managed to achieve these formidable results.”
Kicking off his review, Chief Executive Officer Markus Klaushofer said that he was proud to have come back to Malta and entrusted with the reins of the Company at such a successful juncture. He insisted that Malta Airport is an internationally acclaimed airport operation which punches above its weight.
In his presentation, Mr Klaushofer highlighted the Financial Results of the Company as well as the major achievements in the Airport Segment as well as the Retail & Property Segment.
When discussing the Financial Results, he said that management continued with the constant monitoring and control of the Company’s cost-base, which included a decrease of 2.6% in utilities cost and 12.5% in security costs. The Company also continued with the Early Retirement Scheme initiated in the previous year to make the organisation leaner and more effective.
Regarding traffic results in 2011, Mr Klaushofer reviewed the increase of 6.5% in passenger movements when compared to 2010, with total number of passengers reaching the record figure of 3.5 million.
When discussing the Retail & Property Segment, the CEO stated that this Segment achieved a growth of 1.3% which has to be seen in the context of the increase of 10.6% in 2010 over 2009, on top of a 22.9% over 2008. “These results vindicate the Company’s diversification strategy which later on this year will be strengthened with the opening of the SkyParks Business Centre, which is expected to be inaugurated with 70% confirmed occupancy.”
Mr Klaushofer concluded by highlighting the contributions which the Company makes to the national economy and to the crucial role the airport plays in the tourism industry of the Maltese Islands. He thanked the staff for their commitment and hard work, the company’s stakeholders for the excellent cooperation, as well as the shareholders for their support.
At the end of the AGM, a new Board of Directors was elected as the term of office expired with this AGM. The confirmed Directors are: Mr Michael Bianchi, Ms Jackie Camilleri, and Dr Yousef Sabeh as non-executive Directors; who are joined by CEO Markus Klaushofer and CFO Austin Calleja as executive Directors. They are joined by newly appointed Directors Mr Nikolaus Gretzmacher and Mr Michael Hoeferer.
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