MALAYSIA. Malaysia Airports Holdings Berhad (MAHB) recorded revenue of RM657.7 million (US$209.1 million) for the three months ended 31 March 2012 (1Q12) – a rise of +6.5% compared to the corresponding period in 2011. Non-aeronautical activities made a solid contribution, with retail performing well (see below).
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“We remain cautious for the year ahead and have projected an overall growth in passenger movements of between +6% to +7% based on the expectation that the travel and tourism industry remains robust for Malaysia.“ |
Tan Sri Bashir Ahmad Abdul Majid Managing Director Malaysia Airports Holdings Berhad |
Earnings before interest, tax, depreciation and amortization (EBITDA) grew +6.1% to RM218.3 million (US$69.4 million), while profit before tax and zakat (PBT) increased by +9.0% to RM153.7 million (US$48.9 million).
Commenting on MAHB’s performance, Managing Director Tan Sri Bashir Ahmad Abdul Majid* attributed the increase in operating revenue to stronger results from the airport operations segment, driven by the resilience in air travel demand.
MAHB recorded passenger growth of +6.5% in 1Q12, with a total of 16.0 million passengers having passed through MAHB’s 39 airports in Malaysia. Both international and domestic passenger movements registered strong growth at +6.5% and +6.4% respectively. Total passenger movements in Kuala Lumpur International Airport (KLIA) improved by +6.9%, with both the Main Terminal Building (KLIA-MTB) and the Low Cost Carrier Terminal (KLIA-LCCT) recording positive growth of +2.6% and +11.6% respectively. All other airports recorded an aggregate growth in total passenger movements of +5.9%.
Total aircraft movements grew by +3.2% to 157,577 aircrafts, with the international sector recording a higher growth of +3.9% compared to the domestic sector, which registered a +2.8% growth.
Tan Sri Bashir Ahmad said: “Our non-aeronautical revenue recorded a growth of +8.4% to RM236.6 million (US$75.2 million) on the back of improved performance in the retail and rental businesses. MAHB’s own retail business [through its subsidiary, Eraman Malaysia] grew by +15.8%, ahead of overall passenger traffic growth of +6.5% to RM131.3 million (US$41.7 million) in 1Q12. This was due to an increase in passenger volume and higher retail spending per passenger. Revenue from rental of space, advertising and other commercial segments grew by +0.5% to RM105.3 million (US$33.5 million), contributed mainly by higher rental royalty resulting from the higher sales at KLIA and increased car park revenue due to higher number of air passengers and airport visitors.”
“Global aviation industry started the year 2012 with a remarkable passenger traffic growth, supported by sustained rise in global demand for air travel over time. Asian airports, who are amongst the fastest growing airports globally, have also contributed strongly to the buoyant traffic growth in the Asia Pacific region.
“The residual effects of political unrest on air traffic have now subsided, with the African and Middle East regions having recovered strongly as compared to the height of the Arab spring in February 2011. While the threat of a European financial meltdown seems more remote compared to a few months ago, fuel price level remains a challenging risk for the aviation industry in 2012.
“We remain cautious for the year ahead and have projected an overall growth in passenger movements of between +6% to +7% based on the expectation that the travel and tourism industry remains robust for Malaysia,” Tan Sri Bashir Ahmad concluded.
*NOTE: Tan Sri Bashir Ahmad Abdul Majid’s tenure as Managing Director of MAHB has been extended for another year by the Ministry of Finance, effective 7 June 2012. He was also recently re-elected for the second term as the President of the Airports Council International (ACI) Asia-Pacific Region during the ACI Regional Assembly meeting held on 23 May.
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