MAHB 2Q net profit rises to RM102.53mil

KUALA LUMPUR: Malaysia Airports Holdings Bhd’s (MAHB) net profit for the second quarter (2Q) ended June 30, 2023 (2Q FY2023) rose to RM102.53 million versus a net loss of RM58.15 million in the same quarter last year.

Revenue grew 78.6 per cent to RM1.23 billion from RM689.76 million previously, in tandem with increased passenger volumes, resumption of airline services and connectivity, reopening of China borders and increased Haj pilgrim’s quota.

“Revenue from airport operations increased by 84.3 per cent from RM626.8 million to RM1,155.4 million. Aeronautical segment revenue increased from RM368.2 million to RM696.7 million as compared to the corresponding quarter in the prior year,” it said in a filing with Bursa Malaysia.

MAHB said revenue from non-airport operations increased by 21.6 per cent or RM13.6 million from RM63.0 million to RM76.6 million due to higher revenue from the project and repair maintenance and hotel businesses.

“Overall, Malaysia operations had recorded a significant increase in revenue by 118.3 per cent from RM357.5 million to RM780.6 million, whereas Türkiye and Qatar operations recorded an increase in revenue by 37.9 per cent from RM309.2 million to RM426.4 million and 8.2 per cent from RM23.1 million to RM25.0 million, respectively,” it said.

Meanwhile, for the first half of 2023 (1H 2023), MAHB recorded RM160.72 million net profit compared to a net loss of RM162.91 million in the previous period, while revenue jumped to RM2.27 billion from RM1.26 billion previously.

MAHB said the group’s Malaysia operations saw 38.9 million passenger movements in 1H 2023, a 91.9 per cent increase from the same period in the previous year and a 76.1 per cent recovery against pre-pandemic levels.

“Meanwhile, its Türkiye operations saw an increase of 24.4 per cent in passenger movements from 1H 2022 to 17.2 million, surpassing the 17.0 million passenger movements recorded in the same period in 2019,” it said.

MAHB managing director Datuk Seri Iskandar Mizal Mahmood said the group remains encouraged by the buoyant demand for air travel and continued recovery in passenger traffic and is optimistic that passenger movements will trail closer to pre-pandemic levels by the end of the year.

“Together with the ongoing airport modernisation, digitisation and commercial revitalisation across its network of airports, the group is confident that Malaysia Airports will return to sustained value accretion position in the near term,” he said.

Iskandar added that several operational improvements and digital solutions to achieve enhanced service delivery have been rolled out that would also be the key drivers to propel the airports back to the top-tier global rankings.

There were no dividends paid or declared during the current quarter. – BK