MAHB posts RM187.2mil net profit, RM3.13bil revenue in FY2022

KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) saw its revenue jumped 86.9 per cent to RM3.13 billion with a net profit of RM187.2 million for its financial year ended Dec 31 2022 (FY2022).

MAHB group managing director Datuk Iskandar Mizal Mahmood said the higher revenue was driven by passenger traffic at 39 of its airports in Malaysia that more than doubled to 52.7 million movements compared to FY2021.

The airport operator’s Istanbul Sabiha Gokcen International Airport saw a rise in passenger traffic to 31.2 million passengers in FY2022 due to a 10.4 per cent growth in its international passenger movements.

“The robust recovery seen in both Malaysia and Turkiye is underpinned by the easing of global travel and health restrictions, improved passenger confidence to travel, as well as resumption of airline operations via capacity restoration and addition of new routes,” Iskandar said in a statement today / yesterday.

For its FY2021, MAHB recorded RM1.67 billion in revenue with a net loss of RM766.44 million.

Its fourth quarter performance was better than a year ago as the airport operator registered a net profit of RM359.14 million on the back of RM1 billion revenue compared to a net loss of RM136.73 million on RM551.34 million revenue in the same period last year.

MAHB declared a final dividend of 3.91 sen per share.

Iskandar said the airport operator was cautiously optimistic on its future performance although it is seeing improved passenger traffic that is recovering closer to the pre-pandemic levels.

“While we actively continue to seek revenue generation opportunities, we’ll also continue to be prudent in managing our costs to strengthen our financial position,” he added.

Iskandar also said MAHB was working towards finalising and signing the new Operating Agreements (OA 2023) with the government after receiving the Cabinet’s approval on the principal terms on Feb 2.

Under the OA 2023, MAHB will operate, manage, maintain and develop 39 airports and STOLports in Malaysia until 2069.

On Feb 6, the airport operator also received a nod from the Cabinet for its Subang Airport Regeneration Plan (SARP) that will position Sultan Abdul Aziz Shah Airport, also known as Subang Airport, as a leading city airport and business aviation hub in Asia Pacific.

The SARP focuses on three segments, namely aerospace ecosystem, business aviation and city airport.

The redevelopment will transform Subang Airport into an integrated mixed development of a smart city airport with terminal-linked commercial and high value aerospace industries.