Financials


Quarterly Report For The Financial Period Ended 30 June 2018

Financials Archive

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Condensed Unaudited Consolidated Statement of Profit or Loss For The Year Ended 30 June 2018

Income Statement

Condensed Unaudited Consolidated Statement of Financial Position As At 30 June 2018

Income Statement

Performance Review

Income Statement

Quarter-on-Quarter

Revenue

The Group’s revenue for the current quarter under review grew 5.0% over the corresponding quarter last year to RM1,154.7 million.

Airport operations recorded revenue growth of 5.5% to RM1,087.4 million. Included in the airport operation’s revenue in the current quarter was construction revenue of RM42.3 million from Turkey operations. The construction revenue was recognised in relation to the construction of the boarding hall expansion of ISGIA.

Aeronautical segment has declined slightly by 0.5% to RM538.3 million over the corresponding quarter last year. Malaysia operations recorded passenger growth of 2.5% to 24.3 million passengers as compared to the corresponding quarter last year of 23.7 million passengers.

The passenger traffic for the Turkey operations increased by 7.7% to 8.4 million passengers as compared to the corresponding quarter last year of 7.8 million passengers. Both international and domestic traffic increased by 7.7%.

The non-aeronautical segment has increased by 3.6% to RM506.8 million, driven by stronger sales registered by the concessionaires and retailers.

However, non-airport operations has declined slightly by 3.5% or RM2.4 million due to lower revenue from project and repair maintenance, hotel and agriculture business.

Overall, Malaysia operations has recorded a slight decline in revenue by 1.3% to RM820.4 million. However, Turkey and Qatar operations recorded revenue growth of 26.8% to RM299.9 million and 7.8% to RM34.4 million respectively.

Profit before tax and zakat (PBT)

The Group recorded a PBT of RM125.6 million as compared to RM86.2 million in the previous corresponding quarter, a favourable variance of 45.7% or RM39.4 million. The favourable variance was mainly due to higher Group revenue recorded in the current quarter.

Cost has increased by 2.2% or RM23.8 million as compared to the previous corresponding quarter. Increased in cost was due to the construction cost in relation to the construction of the boarding hall expansion of ISGIA amounting to RM42.3 million.

PBT of the Malaysian operations increased by 11.5% to RM179.1 million. Turkey registered a loss before tax (LBT) of RM57.4 million while Qatar operations recorded a PBT of RM3.9 million.

Share of results of Associates and Joint Ventures (JV)

Share of associate’s profits in the current quarter under review amounted to RM6.1 million as compared to profits of RM2.0 million for the corresponding quarter last year, mainly due to an increase in contribution from Kuala Lumpur Aviation Fuelling System Sdn Bhd (KAF) by RM5.0 million.

Share of JV‘s profits in the current quarter under review was higher by RM0.5 million mainly due to higher contribution from Segi Astana Sdn Bhd (SASB).

Commentary On Current Year Prospects

MAHB’s network of airports (including ISGIA) recorded 64.9 million passengers in the current period under review of 1 January 2018 to 30 June 2018, representing a growth of 5.2% over the corresponding period last year. International passengers traffic improved by 8.5% while domestic passengers traffic increased by 2.4%. Aircraft movements improved by 2.6%. The international aircraft movements increased by 8.7% while the domestic aircraft movements declined by 1.0%.

Malaysia Operations

Passenger traffic at MAHB operated airports registered 3.0% in growth with 48.7 million passengers in the current period under review. International passengers registered a 7.6% increase to 25.5 million passengers. Domestic passengers declined by 1.7% over the corresponding period to 23.2 million passengers.

The overall growth in passengers was spurred by the higher demand in air travel during holidays and festive season supported by growth in airlines seat capacity and improvement in average load factors.

Overseas Operations

ISGIA recorded 16.2 million passengers in the current period under review, representing an increase of 12.5% over the corresponding period last year. International passengers increased by 12.8% while domestic passengers increased by 12.4%. Emirates Airlines commenced five weekly flights from Dubai, and Pegasus Airlines commenced daily flights to Dammam in June 2018.

The Management expects the performance for the Group for the financial year ending 31 December 2018 to be better than the previous year due to the following:

  1. Malaysia's economic growth is expected to continue its momentum in 2018. Combined with moderated airlines seat capacity filings, passenger growth for the next six months is expected to be positive.
  2. The growth momentum in Turkey is expected to hold based on current market condition.