Malta Airport Sees 13.7% Revenue Increase and Gears Up for €345M Investment Plan…”

Malta International Airport (MIA) kicked off 2025 with strong financial and operational results. In the first quarter, revenue rose by 13.7% year-on-year to €29.2 million, driven by a 14% increase in passenger traffic. Operating expenses grew by 11.5%, largely due to a 15.9% rise in staff costs to €4.3 million, reflecting MIA’s investment in talent and operational capacity.

April continued the upward trend. The UK overtook Italy as the top market for the first time since early 2022, accounting for 21.2% of passenger traffic. Poland saw the fastest growth, up 51%, fueled by expanded services from LOT Polish Airlines and Ryanair.

MIA handled 896,769 passengers in April, up 15.8% from 2024. Aircraft movements and seat capacity increased by 13.1% and 12.8% respectively, while the average seat load factor improved to 86.0%.

The airport invested €15.8 million in Q1 for infrastructure upgrades, including Apron 8 South, SkyParks Business Centre II, and the VIP Terminal. Net profit reached €8.5 million—a 15.9% increase over Q1 2024.

Looking ahead, MIA aims to serve 9.3 million passengers in 2025, supported by over 100 planned summer routes.

Malta International Airport (MIA) CEO Alan Borg informed shareholders about strong growth in off-peak months and a record €24.4 million dividend payout. He also announced a €345 million investment plan for the next five years, featuring the major “eastward expansion” project. The AGM also approved a final dividend, the reappointment of auditors, and a share repurchase authorization.

Agora Estates plc ends 2024 with a 29% boost in revenues.

Agora Estates plc, a property development and investment holding company, saw its revenues jump by 29% in 2024, as detailed in its annual report. This significant growth was mainly attributed to a full year’s rental income from its commercial properties and rising rental rates. To support its growth, Agora Estates sourced €21 million through the bond market, leading to increased finance costs. These funds are being used for projects like the De Rohan Business Centre in Zebbug, targeted for completion by the end of 2025.

Despite this investment, the company maintains a strong financial position with a €30.7 million equity base. Agora Estates reported a pre-tax profit of €108,481 for 2024, compared to a higher figure in 2023 which included a substantial fair value gain on investment properties. The company is actively pursuing further property acquisitions to expand its portfolio.

LifeStar Holding plc incurred a consolidated after-tax loss of €598,000 in 2024.

LifeStar Holding plc’s 2024 Annual Report reveals a consolidated after-tax loss of €598,000, a substantial increase compared to the €182,000 loss in 2023. The group, a Malta-based provider of life insurance solutions through its subsidiaries LifeStar Insurance plc, LifeStar Health Limited, and GlobalCapital Financial Management Limited, attributed this significant widening of losses to ongoing “restructuring and transformation activity” and the implementation of a strategic plan aimed at resolving long-standing legacy issues.

Despite the increased loss, the group’s total assets grew by eight per cent to €152 million, a reversal of the previous year’s decline. Liabilities also increased, while equity saw a slight decrease. Consequently, no dividend was recommended for 2024. Notably, LifeStar Group has expanded its operations into Italy and San Marino as part of its growth strategy.

Main Street Complex is experiencing declining revenues as a result of competition from new malls and online retailers

Main Street Complex plc, the operator of the Paola retail complex, expressed concern over a decline in retailers’ interest in new premises, resulting in vacant spaces despite management efforts. The company’s 2024 report showed an 11.4% revenue decrease to €717,178 and a 23.6% drop in pre-tax profit to €365,376, attributed to new malls and online competition. Unrecovered expenses rose due to lower occupancy. While administrative costs were stable, capital expenditure increased for Level 1 renovations. Net post-tax profits fell by 28.2% to €254,248, and the property value was revised down. However, a net final dividend of €149,571 has been recommended.

Malta Company Announcements:

Grand Harbour Marina plc

Grand Harbour Marina plc announced that its Board of Directors is scheduled to meet on Tuesday 20 May 2025 to consider the declaration of a dividend.

Lombard Bank Malta plc

Lombard’s Board of Directors proposes a final net dividend of €0.0221 per share for shareholders on record as of May 22, 2025. Payment is scheduled for July 10, 2025 following shareholder approval at the Annual General Meeting on June 25, 2025.

Mapfre Middlesea plc

The Board of Directors recommends a final net dividend of €4.8 million, amounting to €0.052174 per share, a 6.7% rise from the previous year. If approved by shareholders at the Annual General Meeting on April 30, 2025, the dividend will be distributed on May 26, 2025, to those who were shareholders by the end of trading on May 8, 2025.

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