Financials


Quarterly Report For The Financial Period Ended 31 March 2018

Financials Archive

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Condensed Unaudited Consolidated Statement of Profit or Loss For The Year Ended 31 March 2018

Income Statement

Condensed Unaudited Consolidated Statement of Financial Position As At 31 March 2018

Income Statement

Review of Performance

Income Statement

Overview

The Group’s revenue for the current quarter under review grew 11.2% over the corresponding quarter last year to RM1,215.8 million.

Airport operations recorded revenue growth of 12.2% to RM1,143.1 million, mainly driven by both the aeronautical and non-aeronautical segment. Included in the airport operation’s revenue in the current quarter was construction revenue of RM25.8 million from Turkey operations. The construction revenue was recognise in relation to the construction of the boarding hall expansion of ISGIA.

Underpinned by strong passenger growth, aeronautical segment grew 11.7% to RM588.4 million over the same corresponding quarter last year. Malaysia operations recorded passenger growth of 3.4% (international: 10.2%, domestic: -3.4% growth) to 24.4 million passengers as compared to the corresponding quarter last year of 23.6 million passengers. The growth in international passenger traffic was contributed by four regional international airports performing exceptionally well in March 2018.

The passenger traffic for the Turkey operations increased by 18.2% to 7.8 million passengers as compared to the corresponding quarter last year of 6.6 million passengers. Both international and domestic traffic increased by 19.0% and 17.8% respectively.

The non-aeronautical segment also recorded almost equally strong revenue growth of 7.6% to RM528.9 million, driven by stronger sales registered by the concessionaires and retailers.

However, non-airport operations has slightly declined by 2.8% or RM2.1 million due to lower revenue from agriculture business resulting from a decrease in FFB price and lower project and repair maintenance.

Overall, Malaysia operations recorded revenue of RM908.3 million with growth of 8.8%. Turkey operations recorded revenue growth of 22.3% to RM272.7 million. However, Qatar operations recorded a slight decline in revenue by 1.1% to RM34.8 million.

Commentary On Current Year Prospects

MAHB’s network of airports (including ISGIA) recorded 32.2 million passengers in the current quarter under review, representing a growth of 6.6% over the corresponding quarter last year. International passengers traffic improved by 11.5% while domestic passengers traffic increased by 2.5%. Aircraft movements overall improved by 2.6%. The international aircraft movements increased by 9.6% while the domestic sector declined by 4.1%.

Malaysia Operations

Airports in Malaysia registered 3.4% growth with 24.4 million passenger traffic in current quarter under review. Passenger numbers for international was at 13.0 million, registering 10.2% increase. Domestic passengers declined by 3.4% over the corresponding quarter last year with 11.4 million passengers. Aircraft movements grew by 1.2% over the same period with international movements improving by 12.4%. However, the domestic movements declined by 5.4% over the corresponding quarter last year.

The average load factors for domestic and international sectors remained at a high 72.7% and 77.1% respectively. Moving forward some moderation in international growth is likely, while a turnaround in the domestic sector for Malaysia operations as foreseen in June 2018.

Overseas Operations

SGIA total passengers recorded 7.8 million in current quarter under review, an increase of 18.2% over the corresponding quarter last year. International passengers increased by 19.0% while domestic passengers increased by 17.8%. ISGIA performance will likely maintain a double digit growth momentum for both domestic and international passenger traffic in the immediate term.