Malaysia Airports Holdings Berhad Disclaimer
This presentation may contain forward-looking statements by Malaysia Airports Holdings Berhad (Malaysia Airports) that reflect management’s current expectations, beliefs, intentions or strategies regarding the future and assumptions in light of currently available information. These statements are based on various assumptions and made subject to a number of risks, uncertainties and contingencies. Actual results, performance or achievements may differ materially and significantly from those discussed in the forward-looking statements. Such statements are not and should not be construed as a representation, warranty or undertaking as to the future performance or achievements of Malaysia Airports and Malaysia Airports assumes no obligation or responsibility to update any such statements.
No representation or warranty (either express or implied) is given by or on behalf of Malaysia Airports or its related corporations (including without limitation, their respective shareholders, directors, officers, employees, agents, partners, associates and advisers), as to the quality, accuracy, reliability or completeness of the information contained in this presentation, or that reasonable care has been taken in compiling or preparing the Information.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
No part of this presentation is intended to or construed as an offer, recommendation or invitation to subscribe for or purchase any securities in Malaysia Airports.
The financial results should be read in conjunction with the audited Financial Statements for the year ended 31 December 2018 and the Interim Financial Statements for the quarter ended 30 September 2019.
2 MAHB Today More than 25 years serving the nation
Malaysia Airports Incorporated MAHB is Khazanah’s Top 20 Sama-Sama Hotel Full Acquisition of Launch of RtS2020 GLC Launched ISG Licensed by MOT as Launch of KLIA Aeropolis Airport Operator MoU with Cainiao Network Opening of KLIA Opening of LCCT Launch of Digital Free New Operating Expansion of Penang Trade Zone (DFTZ) Opening of Mitsui Agreement International Airport Outlet Park Completion of Langkawi Expansion of LCCT Expansion Project
klia2 Ground Completion of new ISG Breaking st Domestic Hall 1 Airport Ceremony Operator in Opening of Asia Listed in klia2 Graduation from Government Stock GLC Transformation approval for the Exchange Programme with a 35 year Operating TSR* more Agreement than 500% extension to 2069
19911992 1998 1999 2006 2009 2010 2013 2014 2015 2016 2018 2019 2017 *Total Shareholder Return 4 MAHB today
* MALAYSIAN OPERATIONS SERVING OVERSEAS >120 CARRIERS OPERATIONS 5 16 18 133 MILLION PASSENGERS INTERNATIONAL DOMESTIC STOLPORTS SABIHA GOKCEN HAMAD AIRPORTS AIRPORTS INTERNATIONAL AIRPORT INTERNATIONAL AIRPORT TONNES ISTANBUL DOHA 1,030k (100% equity) (Operational & Maintenance CARGO Contracts) KUALA LUMPUR INTERNATIONAL AIRPORT (KLIA)
ST 1 AIRPORT OPERATOR IN WORLD’S ASIA TO BE LISTED th RM13.9 billion 12 BUSIEST # TOP 14 ONLY ASEAN AIRPORT ** MARKET CAPITALISATION AIRPORT FOR AIRPORT SERVICE QUALITY AS AT 31 DECEMBER 2018 WITH THREE PARALLEL RUNWAYS INTERNATIONAL PASSENGERS IN THE WORLD (>40MPPA CATEGORY)**
*Combined operations in Malaysia and Turkey as at FY18 5 * *Based on Airports Council International (ACI) as at FY18 FY18 Key Highlights
GROUP FINANCIAL PERFORMANCE AIRPORT PERFORMANCE
Revenue EBITDA Group Passenger Group Aircraft Group Cargo RM4,851.7 RM2,383.5 Traffic Movements Movements Movements million +4.3% million +24.2% 133.2 1,232,735 1,037,370 (FY2017: RM4,651.3 million) (FY2017: RM1,919.6 million) million +4.1% +2.3% tonnes +1.3% (FY2017: RM128.0 million) (FY2017: 1,204,550) (FY2017: 1,024,011)
Profit After Tax Total Equity KUL ASQ Score KUL ASQ Rank Total Destinations (> 40 mppa Category KUL: >120 RM727.3 RM9,140.7 4.70 out of 5 th (2017: 4.65) 14 million +202.6% million +4.9% (2017: 12th) SAW: >160 (FY2017: RM240.4 million) (FY2017: RM8,715.7 million) IATA Airport Codes: KUL – KL International Airport SAW – Istanbul Sabiha Gokcen International Airport 6 KUL Hub KLIA - Seamless connectivity for Full Service Carriers & Low Cost Carriers
• 60.0 mil Passengers (+2.4% against FY17) ASEAN hub for Oneworld • 120 International destinations KLIA Air Cargo Terminal (ACT) 1 • 15 Domestic destinations (formerly LCCT) Primary Hub Runway 1 • Malaysia Airlines • Malindo Air KLIA Main Capacity: 30.0 mppa* Major International Airlines FY18 Utilisation : 28.1mppa (-0.7%) • Emirates • Etihad • Cathay Dragon • Vietnam Airlines Runway 2 • Saudia • Turkish Airlines • Singapore Airlines • Garuda klia2 • Lion Air • Korean Airlines Capacity : 45.0 mppa • Qatar Airways • Eva Airways FY18 Utilisation: 31.9mppa (+5.3%) • Thai Airways • British Airways • KLM • Japan Airlines Runway 3 • China Southern • Air China • Oman Air • Condor • All Nippon Airways • • China Airlines • AirAsia Major Jetstar Asia • Cebu Pacific • Indonesia AirAsia Primary Hub • AirAsia X International • Scoot • Thai AirAsia • Philippines AirAsia Airlines • Indigo
*KLIA Main’s design capacity is 25.0 mppa. KLIA Main has one of the highest comfort level of 55sqm per passenger during peak hour, hence its capacity can be stretched to cater for up to 30.0 mppa 8 KUL: 43.6 million international passenger movements in 2018
Passenger Movements by Sector Passenger Top 10 Country Movements*Passenger Movement Growth Movement Growth Sector Composition Top 3 Countries Indonesia (Mil) (%) Australia (Mil) (%) Indonesia (17.9%), Singapore (9.7%) , South East Asia 47.5% 7.8 6.2 6 2.3 (-8.7) Thailand (9.4%) 1 North East Asia 24.5% China (10.8%), Hong Kong (3.6%), Japan (3.5%) Vietnam China South Asia 12.4% India (7.5%), Bangladesh (1.9%), Sri Lanka(1.3%) Central Asia 0.2% Kazakhstan (0.1%), Uzbekistan (0.1%) 2 4.7 8.4 7 2.0 8.7 Total 84.5% Asia Thailand Hong Kong Asia 3 4.2 (-1.3) 8 1.6 (-0.3) 84.5%
Singapore Japan 1.5 4 4.1 0.3 9 1.0
India South Korea
5 3.3 7.8 10 1.3 32.2 Africa Middle East Australia & New 0.2% 7.1% Europe Zealand 2.1% 6.1% *ranked by no. of passenger movements 9 KLIA Quality of Service (QOS) framework
Passenger Comfort and Facilities Operator and Staff Facilities Queuing Times Passenger and Baggage Flows
1.9% 0.8% 0.75% 1.55%
Overall satisfaction with airport Aerobridge availability Passenger security search Aerotrain TTS
Cleanliness of the washrooms Aerobridge operator available Check-in People Mover – Lifts, Escalators & before X minutes of on-chocks Walkators times Overall satisfaction with the VDGS availability Transfer queuing Baggage Handling System washrooms Equipment
Cleanliness of the terminal Ramp Wi-Fi Outbound immigration Outbound baggage
Flight information display Staff washrooms Outbound customs Time to first bag
Availability of Wi-fi Inbound immigration Time to last bag
Ambience of the terminal Inbound customs **Queuing Times Elements : Roll-out timeline • Passenger Security Search : 1 Oct’19 Wayfinding Kerbside queuing • Other elements in Queuing Times : TBC by MAVCOM
Kerbside congestion Legend: Roll-out timeline: Sep 2018 Oct 2018 Jan 2019 Jul 2019 Publication Only Represents % of total revenue at risk 10 Competitive charges and resilient growth environment
Amongst the lowest airport charges in the region International PSC (RM) Domestic PSC (RM) Airport Charges Indicator – Leigh Fisher Report (2018) on 50 airports or airport groups 160.0 141.0 40.0 37.0 2018 133.0 Aero 140.0 2016 2016 2018 Ranking 35.0 Rank Airport Revenue / Index 120.0 30.0 Passenger 100.0 86.0 25.0 World average 8.6 100.0 71.0 73.0 71.7 80.0 65.0 20.0 4 Tokyo Narita 13.5 162.4 14.3 60.0 15.0 11.0 12.0 21 Hong Kong 8.3 100.2 35.0 35.0 10.0 40.0 7.0 24 Singapore 8.1 97.3
ASEAN 10.0 -
20.0 5.0 31 Delhi 7.2 87.3
HKD HKD 165
THB 700
32 + 3
65 + 6 EUR 15 SGD 47.30
Non
9 9 + 1
ASEAN EUR 3 IDR 130k (T3)
IDR IDR 200k (T3)
THB 100 6 6 + 1 - - 42 Airports of Thailand 5.0 59.9 klia2 M'sia M'sia M'sia SAW CGK BKK HKG SIN klia2 M'sia M'sia SAW BKK CGK 48 Malaysia Airports 3.2 38.2
Resilient passenger traffic growth, which has endured even the most extreme shocks MAHB MY KLIA ISG Global Financial EU Sovereign Industry Passengers ‘mil 9/11 SARS Crisis Debt Crisis setbacks 97 99 100 89 80 83 84 80 64 67 58 59 60 53 60 48 51 48 49 49 43 45 39 42 38 40 33 33 34 34 34 34 40 28 30 28 30 31 23 24 27 24 18 21 19 15 15 16 12 14 15 20 7 0 1 3 4 4 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Source: Airport websites based on exch. rate on 1 August 2018 Note: M’sia PSC relates to KLIA (MTB) and all other airports other than klia2. PSC shown is inclusive of PSSC and Airport Development Fund where applicable 11 Aero Revenue / Passenger is based on Statutory Drawing Rights (SDR) KLIA Aeropolis and Subang Regeneration KLIA Aeropolis is poised for new growth, attracting high value investments
2 AIR CARGO & LOGISTICS 1 MICE & LEISURE KLIA Aeropolis as an attractive FDI magnet within the 100sqkm scalable land:- ▪ International destination for business tourism Hajj Pilgrims ‘one stop’ - Tabung Shopping Destination – Mitsui Haji Hotel & Convention Centre Outlet Park ▪ Integrated air cargo network Regional E-Commerce Hub / ▪ High-tech aerospace & aviation parks E-Fulfilment Centre
Integrated Transportation Hub Global Distribution Centres, Modern High Spec Light Automated and Digitised Industrial, Specialised Industry RUNWAY 1 Specialised Cargo Handling, Warehouses, Integrated KLIAKLIA Logistics and Supply Chain RUNWAY 2 Grand Central Station – rail/ klia2 3 AEROSPACE & AVIATION transport hub / Business Campuses / Headquarters RUNWAY 3
CAPACITY FOR 4TH RUNWAY Thematic Entertainment, Health/Wellness Village Industry 4.0 High Value MRO and Leading-Edge ASEAN Pavilion, Manufacturing Supply Chain Activities Indoor Arena, Convention Centre
13 The vision of tomorrow to be realised through Subang Airport Regeneration 2025
AIRPORT AND AIRSIDE LANDSIDE (Subang Aero-Tech Park)
AIRPORT CITY BUSINESS AVIATION HUB AEROSPACE ECOSYSTEM
Consists of: Serving the growing needs for business jet MRO, This ecosystem consists of: Fixed Base Operator & aircraft management. • Aero-manufacturing • Domestic and regional >1,500 • Helicopter services destinations Drivers: • Asia Pacific - highest growth market • MRO • serving • Convenient & premium globally business jets Training and Human Capital development services ~5 mil • Congestion & high cost in mature hubs in pax annually (Hong Kong & Singapore) Asia Pacific • Lack of ready infrastructure in other growing markets
The Top 3 Malaysia’s leading Best City Airport in Asia Pacific - connected, preferred Business Aviation hubs in Asia Pacific industrial-aviation park at par with convenient & modern Southeast Asia’s best-in-class 14 International Ventures International record for MAHB is well recognised
Guiding Principles Turkey Qatar
Malaysia Doha, Qatar Facilities Mgmt Nationalisation of Doha, Qatar (contract extension) Male, Maldives Facilities Mgmt (new contract) Doha, Qatar Male, Maldives Male, Maldives Sabiha Gokcen, Turkey (23%) London Stansted, UK Facilities Mgmt (23%) (increase to 60%) (contract extension) 2010 2012 2014 2016 2018 Malaysia Airports’ International Journey Pre-2010 2011 2013 2015 2017 Sabiha Gokcen, Turkey Delhi, India(10%) Madinah, Saudi Cebu, Philippines Jeddah, Saudi Hyderabad, India (11%) (increase to 100%) Sabiha Gokcen, Turkey (20%) Doha, Qatar Doha, Qatar Facilities Mgmt Facilities Mgmt (new contract) Jeddah, Saudi Yangon, Myanmar Delhi, India (10%) Astana, Kazakhstan Divestment Tender for development Successful airport acquisitions/stake Cambodia airports Attempted airport bids Naypyitaw, Myanmar Consultancy 16 (40%) Airport certification Malaysia Airports’ three-pronged international strategy going forward
Organic growth, continue to extract value from Istanbul Grow ISG Sabiha Gokcen (ISG)
Investing in new assets: Invest in • Greenfield in emerging market Strategic Assets • Brownfield in developed market
• Export consultancy capabilities • Leverage airport operator capabilities to ExportExport Expertise improve newly acquired asset efficiency and uplift profitability
17 ISG Key Figures
34.1 mil +8.8% +44.1% 21 Passengers in Growth in 2018 Extra passengers New routes in 2018 for passenger gained in 5 years 2017/2018 traffic
127 41 12th 2nd Direct Direct domestic Busiest airport in Rank in terms of international destinations Europe passengers destinations traffic in Turkey 18 Istanbul Sabiha Gokcen (ISG) strategically positioned to handle continued growth
Runway 2 Primary Hub • Pegasus • Turkish Airlines Runway 1 Major International Airlines • Emirates • Qatar Airways • Anadolu Jet • flydubai • Flynas • SunExpress Sabiha Gokcen Airport Capacity: 41.0 mppa FY18 Utilisation : 34.1mppa (+8.8%) Runway 2 on track for completion with dual runway operations by 1Q20
Opportunity to further increase terminal capacity to cater for the increased airside capacity
New Istanbul Airport Resilient pax growth with potentially Replacing Ataturk Airport Turkey increasing share of higher-fee (FY19 Capacity: 90mil pax) international departing passengers 60 km
Taksim 40 km Rapidly improving connectivity to and 30 km around ISG with significant Istanbul Ataturk Airport – Sabiha Gokcen Airport infrastructure investments including the now closed (FY18: 34.1mil pax) new Istanbul Finance Center 19 (FY18: 68.0mil pax) Financial Highlights Headline Key Performance Indicator (KPI)
FY18 FY18 FY18 FY19 Target Core* Actual Target
EBITDA RM2,092.0mil RM2,092.0milRM2,092.0mil RM2,383.5mil RM2,163.6mil (%) (100.0%)
MY2 RM1,229.9mil Operations RM1,211.1milRM1,211.1mil RM1,510.3mil RM1,236.1mil (101.6%) EBITDA
TR³ RM862.1mil RM880.9milRM880.9mil RM873.2mil RM927.5mil Operations (97.9%) EBITDA
> 40 mppa: > 40 mppa: > 40 mppa: > 40 mppa: Airport Service KLIA Ranking Quality (ASQ) KLIA Ranking KLIA Ranking KLIA Ranking Top 12 Top 14 Top 14 Top 13
1 % represents percentage of KPI achieved for the financial year ² MY represents results from the Malaysian operation and overseas project and repair maintenance segment in Qatar ³ TR represents consolidated results from ISG & LGM in Turkey *Core EBITDA and Core PAT excludes non-core items (NCI). NCI includes the unrealised gain on fair value of investment in GMR Hyderabad International Airport Limited (GHIAL-RM258.4mil) and gain on disposal of investment in GMR Malé International Airport (GMIAL-RM28.2mil) 21 Achieving commendable financial growth in FY18
Passengers Core EBITDA(1) Core PAT (1) Dividend (mil) (RM mil) (RM mil) (sen/share)
133.2 446.8 14.0 2,092.0
240.4
128.0 1,909.3 13.0
FY17 FY18 1. Core EBITDA and Core PAT excludes non-core items (NCI). NCI includes the unrealised gain on fair value of investment in GMR Hyderabad International Airport Limited (GHIAL-RM258.4mil) and gain on disposal of investment in GMR Malé International Airport (GMIAL-RM28.2mil) 22 Dividend payments are on an upward trend
Interim DPS (sen) Final DPS (sen) Total Amount Paid (RM'mil)
25.00 232.29 250.00 215.70
20.00 188.93 186.27 200.00 162.94 165.46 165.92 152.60 152.82 14.90 141.03 15.00 13.15 150.00 11.75 14.55 10.00 7.63 100.00 5.78 8.00 9.00 86.95 6.00 4.50 Dividend Per Share Share Dividend (DPS) Per 5.00 50.00 8.00 8.00 8.00 3.60 6.00 6.00 4.00 4.00 4.00 5.00 5.00 5.00 (RM’mil) Amount Paid Total 2.00 0.00 0.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019(1) Total Amount Paid 152.60 188.93 162.94 186.27 165.46 152.82 86.95 141.03 165.92 215.70 232.29 82.96 (RM'mil) Dividend Per Share 18.55 22.90 19.75 21.15 13.63 11.78 5.60 8.50 10.00 13.00 14.00 5.00 (sen)
1. Single-tier interim dividend announced for the financial year ended 31 December 2019 on 30 August 2019 23 Diversified revenue streams: Higher non-aeronautical revenue contributions
Aeronautical Revenue: 50.2% Non Aeronautical Revenue: 49.8% Rental Retail Non-Airport
RM 2,404.3 RM 1,259.3 RM 831.3 RM 291.3 FY18 Revenue (mil) RM 1,797.0 RM 607.3 RM 786.7 RM 472.6 RM 831.3 RM 133.4 RM 157.9 % of total 37.5% 12.7% 16.4% 9.9% 17.4% 2.8% 3.3% revenues
• Passenger • Passenger • Rental & royalties • Duty free • Maintenance and technical Key revenue Service Service • Car park • Non-dutiable services (Malaysia & Qatar) Charges Charges • Advertising goods • Oil palm plantation streams • Landing & • Aeropolis • Sama - Sama Hotel Parking • ISG Airport Hotel
24+2 years Competitive 25+35 years concession Retail and F&B tenants on a fixed Market & able to concession Framework (for terminal rent or royalty basis enjoy upside due for 39 airports only) to higher margin 24 EBITDA KPI mainly driven by passenger growth and mix
Group Core EBITDA (RM ‘mil) MY TR 2,163.6 1,919.6 2,092.0 1,679.1 1,709.9 780.9 862.1 927.5 700.5 719.1
1,229.9 1,236.1 861.4 978.6 990.9 1,138.7
2014 2015 2016 2017 2018 2019 Actual Actual Actual Actual (Restated) Actual Target
Passenger Movement (‘mil) MY TR 139.5 127.9 133.2 107.0 112.1 118.6 31.3 34.1 35.6 23.6 28.3 29.6
83.4 83.8 89.0 96.6 99.1 103.9
2014 2015 2016 2017 2018 2019 Actual Actual Actual Actual Actual Target 25 Strong interest from foreign shareholders supported by good credit profile
Shareholding Profile Borrowing Profile TR 568 / €120 No. of paid-up share capital: 1,659,191,828 (RM / € ‘mil) MY (RM ‘mil)
213 / €45 33.2% Foreign 33.2% Foreign 39.3% 40.0% 733 / €155 1,500 31-Dec-17 31-Dec-18 118 / €25 1,000 402 / €85 1,000 166 / €35 600 250 Domestic Domestic 1 2 27.5% 26.8% 2018 2019 2020 2021 2022 2023 2024 Perpetual Sukuk Dividend Profile FY18 FY17 Net debt (RM 'mil)3 2,350.3 2,977.8 Dividend 4 4 Dividend Payment Total Amount Paid Dividend Share of fixed-rate debt 100% 100% Reinvestment Plan Financial per Share (sen) (RM' mil) Payout Ratio1 Year Subscription Rate Weighted average maturity (years) 4.45 5.28
Interim Final Interim Final Total Interim Final Total Total Weighted average cost 4.06% 4.02% 2012 46.2% 85.0% 6.00 7.63 13.63 72.60 92.86 165.46 50.0% Gross gearing ratio (times) 0.56x 0.62x 2013 88.4% 87.6% 6.00 5.78 11.78 73.95 78.87 152.82 50.0% 2014 53.4% 74.1% 2.00 3.60 5.60 27.48 59.47 86.95 61.2% Credit Rating / Outlook 2015 N/A N/A 4.00 4.50 8.50 66.37 74.66 141.03 58.1% RAM (Reaffirmed on 19/12/18) AAA / Stable 2016 N/A N/A 4.00 6.00 10.00 66.37 99.55 165.92 55.5% Moody's (Reaffirmed on 16/01/19) A3 / Stable 2017 N/A N/A 5.00 7.00 12.00 82.96 116.14 199.10 51.0% 1Amount already paid in 2018 2018 N/A N/A 5.00 9.00 14.00 82.96 149.33 232.29 52.0% 2Non-call 10 year, fixed initial periodic distribution rate of 5.75% recognised in equity 3Net Debt = Total Debt – (Cash and Cash Equivalents plus Unit Trust and Bonds) 1 The dividend payout ratio is based on the adjusted net core profit of the Group 4 After ISG’s floating rate swap 26 FY18 EBITDA and PBT Reconciliation
FY18 FY17 (Restated) Variance (%) (RM 'mil)
EBITDA excluding Non-core items (NCI) & Adjustments (Adj) 1,229.9 862.1 2,092.0 1,138.7 770.7 1,909.3 8.0% 11.9% 9.6% NCI + Other Income - Gain on disposal of GMIAL 28.2 - 28.2 - - - NCI + Other Income - FV gain on investment in GHIAL 258.4 - 258.4 - - -
Adj* + Other Income - ISG PPA interest income - 11.1 11.1 - 10.2 10.2
NCI + Other Expenses- Transaction cost (6.1) - (6.1) - - -
EBITDA including NCI & Adj 1,510.3 873.2 2,383.5 1,138.7 780.9 1,919.6 32.6% 11.8% 24.2% - Depreciation and Amortisation (377.6) (312.8) (690.4) (352.0) (337.6) (689.6) Adj* - Amortisation - ISG&LGM PPA concession rights fair value - (197.1) (197.1) - (191.2) (191.2) - Finance Costs - interest on borrowing and misc. (173.4) (120.9) (294.3) (181.0) (111.8) (292.7) - Finance Costs - ISG utilization fee expense - (420.4) (420.4) - (396.7) (396.7) Adj* - Finance Costs - ISG&LGM PPA interest expense - (30.9) (30.9) - (31.2) (31.2) + Share of Assoc. & JV Profit 30.1 - 30.1 20.6 - 20.6 Profit before Tax & Zakat including NCI &Adj 989.5 (208.9) 780.6 626.3 (287.5) 338.8 58.0% 27.3% 130.4% - Taxation and Zakat (90.5) 37.2 (53.3) (164.6) 66.2 (98.4) PAT including NCI & Adj 899.0 (171.7) 727.3 461.7 (221.3) 240.4 94.7% 22.4% 202.6%
Note: Included within current period retained earnings is a distribution to the perpetual sukuk holders amounting to RM57.5mil (FY17: RM57.5mil) *PPA (Purchase Price Allocation): Non-cash adjustments are in respect of the fair valuation exercise on the Turkish operations under MFRS3: Business Combinations (FY18: RM216.7mil; FY17: RM212.2mil) 27 Continued growth in aeronautical and non-aeronautical revenue for FY18
Main revenue items are Passenger Service Charge, retail and rental & royalties. Key drivers include strong international pax growth and supported by a higher commercial revenues in Malaysia and Turkey
Aeronautical (RM ‘mil) Non-Aeronautical (RM ‘mil) Non-Airport Operations (RM ‘mil) Construction FY18: RM2,404.3 (+6.7%) FY18: RM2,090.5 (+2.3%) FY18: RM291.3 (-1.8%) Revenue FY17: RM2,253.6 FY17: RM2,043.2 FY17: RM296.6 (RM ’mil) FY18: RM1,797.0 (+6.4%) excluding ISG & LGM FY18: RM1,618.0 (+1.9%) excluding ISG & LGM FY18: RM282.5 (-1.9%) excluding ISG & LGM FY17: RM1,689.4 excluding ISG & LGM FY17: RM1,588.3 excluding ISG & LGM FY17: RM287.9 excluding ISG & LGM (RM ‘mil) 2,000.0 FY17 TR FY17 MY FY18 TR FY18 MY
499.5 453.2 1,500.0
1,000.0 394.4 417.2 1,387.7 1,335.5 500.0 853.7 831.3 406.2 630.2 661.5 385.7 107.7 38.0 8.7 8.8 111.0 44.5 16.0 17.2 38.2 155.2 162.2 - 30.1 57.9 65.6 65.9 61.9 57.3 57.4 47.0 63.3 94.5 90.2 (89.0) (62.8)
PSC & Landing & Airline Others Retail Rental & Car Park Others Hotel Agriculture & Proj & repair Construction (500.0) PSSC Parking Incentive Royalties Horticulture maintenance Revenue 28 Operating cost profile centred around fixed costs with the exception of User Fee
Main operating cost components are staff, utilities and maintenance. Revenue share with GoM for FY18 is 11.89%, recognized as user fee. Direct costs relates to retail and project & repair maintenance segments.
Direct Costs (RM ‘mil) Operating Costs (RM ‘mil) Construction Cost FY18: RM753.6 (-4.9%) FY18: RM1,951.4 (+4.0%) (RM ’mil) FY17: RM792.1 FY17: RM2,112.6 FY18: RM1,951.4 (+5.7%) excluding ISG & LGM (RM ‘mil) FY17: RM1,845.5 800.0
700.0 50.0 44.7 657.4 600.0 644.9
500.0 483.3 400.0 454.7 21.9 22.9 365.7 73.9 300.0 87.1 107.0 104.2 316.5 289.7 265.4 391.8 417.6 200.0 233.4 214.4 160.1 161.9 100.0 148.8 137.0
57.9 65.6 - Direct Materials Direct Labour Direct Overheads Staff costs Utilities & comm Maintenance User Fee Others Construction Cost 29 Group net assets of RM9.1 billion as at FY18
Net Assets (RM ‘mil) (RM ‘mil) Dec 18: RM9,140.4 (+4.9%) 19,000.0 Dec 17: RM8,715.7
15,000.0
9,297.1 8,361.9
11,000.0
7,000.0
2,199.3 8,112.5 8,403.1 2,043.3
3,000.0 5,100.1 5,024.3 887.2 1,024.0 3,350.0 3,100.0 101.4 99.8 162.8 155.7 1,684.3 1,768.9 372.7 286.8 1,199.6 1,350.7 480.8 440.4 Trade Cash & Intangible Borrowings Trade Other (1,000.0) Receivables Funds Assets Payables Payables
Exchange rate used in balance sheet for FY18: RM4.73/EUR Exchange rate used in balance sheet for FY17: RM4.84/EUR 30 Operating Statistics Passenger movements: Home-based carriers continue to introduce new routes
Pax ‘mil MY Int'l MY Domestic ISG Int'l ISG Domestic Total MAHB network of airports registered 4.0% 25.0 growth There has been an increase in intra-domestic 20.0 12.0 11.7 11.4 11.8 12.3 passenger movements among non-KLIA airports 11.8 11.9 11.8 which used to flow significantly through KLIA in the 15.0 past. There has also been an increase in direct 10.0 international services to non-KLIA airport which has reduced some movements through KLIA 5.9 12.7 13.0 13.0 12.5 6.2 13.0 13.1 11.7 12.0 5.3 5.6 5.2 Positive developments in Turkey continued, with an 5.0 4.5 5.3 5.3 8.8% increase total passenger for FY18, contributed 2.1 2.5 3.1 2.5 2.5 2.8 3.5 2.9 - by international passenger traffic growth of 12.9% 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 KLIA Main klia2 KLIA (KUL) MASB Airports MY Airports ISG (SAW) MAHB Group Pax ’mil * FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % International 22.9 22.1 3.4 20.7 20.3 2.1 43.6 42.4 2.7 8.1 7.0 15.3 51.7 49.5 4.5 11.7 10.3 12.9 63.4 59.8 6.0 ASEAN 8.8 8.5 ↑ 3.3 11.8 11.5 ↑ 3.3 20.7 20.0 ↑ 3.3 4.8 4.2 ↑ 14.0 25.5 24.2 ↑ 5.2 Non-ASEAN 14.0 13.6 ↑ 3.4 8.9 8.9 ↑ 0.5 22.9 22.4 ↑ 2.3 3.3 2.8 ↑ 17.3 26.2 25.2 ↑ 3.9 Domestic 5.3 6.2 (14.7) 11.1 10.0 11.8 16.4 16.1 1.7 31.0 31.1 (0.2) 47.4 47.2 0.4 22.4 21.0 6.7 69.8 68.2 2.4 Total 28.1 28.3 (0.6) 31.9 30.3 5.3 60.0 58.6 2.4 39.1 38.1 2.6 99.0 96.6 2.5 34.1 31.3 8.8 133.1 128.0 4.0
New destinations for home-based carriers in FY18 Malaysia Airlines AirAsia/AirAsiaX Malindo Air Pegasus Airlines Turkish Airlines KUL-Brisbane KUL-Jaipur KUL-Kuantan KCH-Tawau BKI-Chengdu BKI-Nanning LGK-Guiyang SAW-Bingol SAW-Damman KUL-Malé PEN-Hanoi AOR-Johor Bahru BKI-Changsha BKI-Wuhan SZB-Silangit SAW-Damman SAW-Bahrain KUL-Hua Hin PEN-Phuket BKI-Guangzhou PEN-Banda Aceh KUL-Melbourne SAW-Nurenberg SAW-Doha KUL-Silangit IPH-Johor Bahru BKI-Tianjin PEN-Nanning KUL-Labuan SAW-Muscat KUL-Changsa Anadolujet IPH-SG BKI-Singapore IPH-Medan KUL-Amritsar SAW-Jeddah KUL-Phu Quoc SAW-Batman BKI-Macau BKI-Tawau LGK-Chengdu KUL-Kolkata SAW-Sharjah KUL-Tainjin BKI-Kunming BKI-Kuching LGK-Kunming KBR-Surat Thani SAW-Rotterdam SAW-Usak 32 *MASB Airports refers to the 38 Malaysian airports other than KLIA/KUL operated by Malaysia Airports Sdn Bhd Global airport peers are also impacted by geopolitics and macro factors
Pax ‘mil +2.4% +8.8% +10.1% +10.0% +7.1% +6.0% +5.5% +5.4% +4.1% +2.7% +2.5% +2.5%
150.0
100.9 100.9 95.8 95.8
100.0
80.1 80.1
78.0 78.0
74.7 74.7
72.9 72.9
69.9 69.9
68.0 68.0
65.6 65.6
68.3 68.3
66.9 66.9
64.1 64.1
62.2 62.2
63.5 63.5
63.4 63.4
62.5 62.5
60.0 60.0
62.1 62.1
60.9 60.9
58.6 58.6
44.4 44.4 43.3 43.3
50.0 34.1 31.3 31.3
0.0 KLIA Sabiha Delhi Incheon Jakarta Ataturk Changi Beijing Bangkok Heathrow Sydney Hong Kong Gokcen
Source: Various airport websites, IATA 12M17 12M18
• Industry-wide revenue passenger kilometers (RPKs) grew by a robust 6.5% in 2018 as a whole, slightly below the 8.0% rate of 2017 Global Drivers • The moderation in traffic came alongside growing signs of slowing global economic expansion in the second half of 2018 • Capacity grew at a slower pace than traffic in 2018 and the passenger load factor increased to a record high of 81.9% • Although passenger demand has moderated, 2019 is still looking robust in the face of economic uncertainty
Source: IATA: Robust passenger demand and a record load factor in 2018 (7th February 2019) 33 Aircraft movements: Foreign carriers continue to add new services and routes
Airline Routing Frequency Effective New Airlines ATM ‘000 Xiamen Air Beijing-BKI Daily 16/1 MY Int'l MY Domestic ISG Int'l ISG Domestic Wings Air Pontianak-KCH 14x weekly 24/1 Bassaka Air Phnom Penh-KUL Daily 31/1 Scoot Singapore-KUA 3x weekly 2/2 Qatar Airways Doha-PEN 3x weekly 6/2 200.0 Wings Air Pontianak-MYY 7x weekly 15/3 Citilink Indonesia Jakarta-PEN 7x weekly 25/3 Wings Air Medan - MKZ 7x weekly 20/4 Pobeda Airlines Moscow-SAW 7x weekly 21/9 133.9 129.6 127.4 128.7 Pobeda Airlines St. Petersburg-SAW 7x weekly 28/10 150.0 130.5 125.2 127.4 132.1 Citilink Indonesia Surabaya-PEN 7x weekly 1/11 Condor Frankfurt-KUL 3x weekly 2/11 Indigo Delhi/Bangalore-KUL 7x weekly 15/11 Citilink Indonesia Banyuwangi-KUL 3x weekly 19/12 100.0 Bandar Seri Begawan- Royal Brunei 2x weekly 28/12 KCH New Services Wataniya Airways Kuwait-SAW Daily 25/3 50.0 86.1 87.1 86.8 85.6 38.6 88.0 88.5 Emirates Dubai-SAW 5x weekly 8/6 77.2 80.7 36.8 35.7 33.8 30.3 34.0 33.4 33.4 Thai Airasia Don Mueang-BKI 3x weekly 16/8 Xiamen Air Xiamen-BKI 4x weekly 28/10 17.1 18.8 22.1 18.4 18.1 20.3 23.5 21.2 Additional Frequencies 0.0 FY18 in carriers based foreign from services new of Snapshot China Southern Guangzhou-PEN 7x to 14x weekly 1/6 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 China Airlines Taipei-PEN 6x to 7x weekly 7/6 Qatar Airways Doha-PEN 3x to 4x weekly 17/6 KLIA Main klia2 KLIA (KUL) MASB Airports * MY Airports ISG (SAW) MAHB Group ATM’000 FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var % FY18 FY17 Var %
International 151.6 147.3 2.8 123.4 119.6 3.1 274.9 266.9 3.0 73.9 64.2 15.1 348.9 331.1 5.4 83.2 76.4 9.0 432.1 407.5 6.0
Domestic 49.6 55.0 (9.8) 74.1 64.1 15.7 123.8 119.1 3.9 391.1 397.9 (1.7) 514.9 517.0 (0.4) 141.5 134.6 5.2 656.5 651.6 0.8
Total 201.2 202.3 (0.6) 197.5 183.7 7.5 398.7 386.1 3.3 465.0 462.1 0.7 863.8 848.1 1.9 224.7 210.9 6.6 1,088.6 1,059.0 2.8 *MASB Airports refers to the 38 Malaysian airports other than KLIA/KUL operated by Malaysia Airports Sdn Bhd 34 ATM – Aircraft Movements Appendix A: 9M19 Financial Highlights
35 Headline Key Performance Indicator (KPI)
9M18 9M18 9M19 FY19 Actual excl. NCI* Actual Actual Target
EBITDA RM1,679.3mil RM1,816.9mil RM1,964.8mil RM2,163.6mil (%)¹ (80.3%) (84.0%)
2 MY RM1,024.2mil RM1,073.1mil RM1,309.7mil RM1,236.1mil Operations (84.6%) (83.9%) EBITDA
TR³ RM655.1mil RM743.9mil RM655.1mil RM927.5mil Operations (74.4%) (80.2%) EBITDA
> 40 mppa: > 40 mppa: > 40 mppa: > 40 mppa: Airport Service KLIA Ranking KLIA Ranking KLIA Ranking KLIA Ranking Quality (ASQ) 12th 12th 16th Top 13
1 % represents percentage of KPI achieved for the financial year ² MY represents results from the Malaysian operation and overseas project and repair maintenance segment in Qatar ³ TR represents consolidated results from ISG & LGM in Turkey *Non-Core Items (NCI) represents the unrealised gain on fair value of investment in GMR Hyderabad International Airport Limited (GHIAL-RM258.4mil), gain on disposal of investment in GMR Malé International Airport (GMIAL-RM28.2mil) and transaction costs related to divestment projects (RM1.1mil). 36 Strong credit profile resilient to economic condition
Shareholding Profile Repayment Borrowing Profile TR 550 / €120 No. of paid-up share capital: 1,659,191,828 (RM / € ‘mil) MY (RM ‘mil)
206 / €45 Foreign Foreign 33.2% 33.2% 35.0% 710 / €155 40.0% 1,500 31-Dec-18 30-Sep-19 1 1,000 389 / €85 1,000 160 / €35 600
2 Domestic Domestic 2019 2020 2021 2022 2023 2024 Perpetual 26.8% 31.8% Sukuk Dividend Profile 30 Sept 19 31 Dec 18 Net debt (RM 'mil) 3 2,162.2 2,350.3 Dividend 4 4 Dividend Payment Total Amount Paid Dividend Reinvestment Plan Share of fixed-rate debt 100% 100% Financial per Share (sen) (RM' mil) Payout Ratio* Year Subscription Rate Weighted average maturity (years) 3.69 4.45 Interim Final Interim Final Total Interim Final Total Total Weighted average cost 4.09% 4.06% 2012 46.2% 85.0% 6.00 7.63 13.63 72.60 92.86 165.46 50.0% Gross gearing ratio (times) 0.54x 0.56x 2013 88.4% 87.6% 6.00 5.78 11.78 73.95 78.87 152.82 50.0% 2014 53.4% 74.1% 2.00 3.60 5.60 27.48 59.47 86.95 61.2% Credit Rating / Outlook 2015 N/A N/A 4.00 4.50 8.50 66.37 74.66 141.03 58.1% RAM (Reaffirmed on (19-Dec-18) AAA / Stable 2016 N/A N/A 4.00 6.00 10.00 66.37 99.55 165.92 55.5% Moody's (Reaffirmed on (16-Jan-19) A3 / Stable 2017 N/A N/A 5.00 8.00 13.00 82.96 132.74 215.69 55.1% 1€15m was paid in June 2019 2018 N/A N/A 5.00 9.00 14.00 82.96 149.33 232.29 52.0% 2Non-call 10 year, fixed initial periodic distribution rate of 5.75% recognised in equity 2019 N/A N/A 5.00 TBD 5.00 82.96 TBD 82.96 50.0% 3Net Debt = Total Debt – (Cash and Cash Equivalents plus Unit Trust and Bonds) 4After ISG’s floating rate swap *The dividend payout ratio is based on the adjusted net core profit of the Group 37 9M19 EBITDA and PBT Reconciliation
9M19 9M18 Variance (%) (RM 'mil)
EBITDA excluding Non-core items (NCI) & Adjustments (Adj) 1,073.1 735.7 1,808.8 1,024.2 646.8 1,671.0 4.8% 13.8% 8.3% NCI + Other Income - Gain on disposal of GMIAL - - - 28.2 - 28.2 NCI + Other Income - FV gain on investment in GHIAL - - - 258.4 - 258.4
Adj* + Other Income - ISG PPA interest income - 8.1 8.1 - 8.3 8.3
NCI + Other Expenses - Transaction cost - - - (1.1) - (1.1)
EBITDA including NCI & Adj 1,073.1 743.9 1,816.9 1,309.7 655.1 1,964.8 -18.1% 13.6% -7.5% - Depreciation and Amortisation (307.1) (241.8) (548.9) (271.0) (233.2) (504.1) Adj* - Amortisation - ISG&LGM PPA concession rights fair value - (151.2) (151.2) - (150.0) (150.0) - Finance Costs - interest on borrowing and misc. (133.6) (70.4) (204.0) (130.4) (107.7) (238.1) - Finance Costs - ISG utilization fee expense - (297.2) (297.2) - (313.0) (313.0) Adj* - Finance Costs - ISG&LGM PPA interest expense - (23.2) (23.2) - (23.5) (23.5) + Share of Assoc. & JV Profit 20.6 - 20.6 17.0 - 17.0 Profit before Tax & Zakat including NCI &Adj 653.0 (40.0) 613.0 925.4 (172.2) 753.1 -29.4% 76.8% -18.6% - Taxation and Zakat (126.3) 20.8 (105.5) (87.3) 33.4 (53.9) PAT including NCI & Adj 526.8 (19.2) 507.5 838.1 (138.9) 699.2 -37.1% 86.2% -27.4%
Note: Included within current period retained earnings is a distribution to the perpetual sukuk holders amounting to RM43.0mil (9M18: RM43.0mil) *PPA (Purchase Price Allocation): Non-cash adjustments are in respect of the fair valuation exercise on the Turkish operations under MFRS3: Business Combinations (9M19: RM166.4mil; 9M18: RM164.7mil) 38 Growth momentum from aeronautical and non-airport operations for 9M19
Main revenue items are Passenger Service Charge and ISG introduced PSSC of EUR3 for departing international pax. Key drivers include strong international pax growth and higher contract billings from Qatar Aeronautical (RM ‘mil) Non-Aeronautical (RM ‘mil) Non-Airport Operations (RM ‘mil) Construction 9M19: RM2,024.4 (+15.1%) 9M19: RM1,618.5 (+3.8%) 9M19: RM225.8 (+5.4%) Revenue 9M18: RM1,759.1 9M18: RM1,558.6 9M18: RM214.2 (RM ’mil) 9M19: RM1,454.9 (+11.8%) excluding ISG & LGM 9M19: RM1,222.6 (+1.1%) excluding ISG & LGM 9M19: RM218.6 (+5.3%) excluding ISG & LGM 9M18: RM1,301.8 excluding ISG & LGM 9M18: RM1,208.8 excluding ISG & LGM 9M18: RM207.6 excluding ISG & LGM (RM ‘mil) 1,800.0 9M18 TR 9M18 MY 9M19 TR 9M19 MY
1,600.0
1,400.0 478.3
1,200.0 377.4
1,000.0
800.0 ** 308.5 355.4 600.0 1,121.1
400.0 998.3 615.1 632.5 505.7 200.0 299.3 498.9 316.6 * 7.3 79.9 91.2 30.2 26.4 11.1 14.1 6.6 132.7 48.2 58.3 45.8 49.0 40.4 66.8 65.4 24.7 20.4 116.1 68.1 - (44.0) (41.3) 44.0 -
(200.0) PSC & *** Landing & Airline Others Retail Rental & Car Park Others Hotel Agriculture & Proj & repair Construction PSSC Parking Incentive Royalties Horticulture maintenance Revenue *Included in Turkish operations’ aeronautical revenue is ISG’s jet fuel farm rental income of EUR3.6mil / RM16.8mil (1H18: EUR3.6mil / RM17.9mil) **Included in Turkish operations’ rental and royalties is revenue generated from ISG’s duty free business with Setur of EUR28.9mil / RM135.0mil (1H18: EUR24.3mil/ RM114.2mil) 39 ***Inclusive of MARCS PSC and MARCS ERL Operating cost profile centred around fixed costs with the exception of User Fee
Main operating cost components are staff, utilities and maintenance. Revenue share with GoM for 9M19 is 12.13%, recognized as user fee. Direct costs relates to retail and project & repair maintenance segments.
Direct Costs (RM ‘mil) Operating Costs (RM ‘mil) Construction Cost 9M19: RM601.9 (+12.2%) excluding ISG & LGM 9M19: RM1,647.6 (+9.5%) (RM ’mil) (RM ‘mil) 9M18: RM536.7 9M18: RM1,504.0 9M19: RM1,402.2 (+5.6%) excluding ISG & LGM 600.0 9M18: RM1,327.5 9M19 MY 9M19 TR 9M18 MY 9M18 TR
500.0 40.3 31.0 476.2 440.8 400.0
361.6 20.5 300.0 330.9 309.0 15.8 262.2 55.1 63.6 200.0 307.5 336.9 74.6 189.3 195.5 120.9
100.0 127.6 111.2 119.4 120.9 94.6 84.6 68.1 - Direct Materials Direct Labour Direct Overheads Staff costs Utilities & comm Maintenance User Fee Others Construction Cost- 40 Group net assets of RM9.3 billion as at 9M19
Net Assets (RM ‘mil) (RM ‘mil) Sep 19: RM9,308.9 (+1.8%) 19,000.0 Dec 18: RM9,140.7
17,000.0
Sep-19 MY Sep-19 TR Dec-18 MY Dec-18 TR 15,000.0
13,000.0 8,606.9 7,967.8 11,000.0 Lower for TR due to utilisation fee payment 9,000.0 (EUR115.0mil)
7,000.0
5,000.0 8,158.1 8,066.9 2,043.3 1,930.0 3,000.0 1,024.0 5,024.3 4,656.2 999.4 172.2 3,100.0 3,100.0 185.6 1,000.0 226.0 155.7 1,769.0 1,868.4 1,353.1 440.4 542.9 286.8 206.8 1,513.3 (1,000.0)Trade Receivables Cash & Funds Intangible Assets Borrowings Trade Payables Other Payables
41 Appendix B: 9M19 Operating Statistics Passenger movements: Home-based carriers continue to introduce new routes
Pax ‘mil MY Int'l MY Domestic ISG Int'l ISG Domestic 25.0 Total MAHB network of airports registered 5.1% growth 20.0 13.4 There has been an increase in domestic passenger movements by 11.4 11.8 12.3 12.3 12.9 11.8 10.0% for MAHB airports excluding ISG. Furthermore, there has 15.0 also been an increase in direct international services to MASB airports which has reduced some movements through KLIA 10.0 Positive developments in Turkey continued, with an 2.9% increase 5.8 13.0 12.5 6.2 13.0 13.2 13.1 5.3 12.9 13.4 total passenger for 9M19, contributed by international passenger 5.0 5.3 5.6 5.2 5.1 traffic growth of 19.6% 2.5 2.8 3.5 2.9 3.0 3.4 4.1 - 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19
KLIA Main klia2 KLIA (KUL) MASB Airports* MY Airports ISG (SAW) MAHB Group 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % International 17.2 17.0 1.1 16.0 15.6 2.8 33.2 32.5 1.9 6.2 6.0 3.5 39.4 38.6 2.2 10.4 8.7 19.7 49.9 47.3 5.4 ASEAN 6.7 6.7 (0.1) 9.3 8.8 5.4 16.0 15.5 3.0 3.7 3.6 2.9 19.6 19.0 3.0 Non-ASEAN 10.5 10.3 1.9 6.7 6.7 (0.6) 17.2 17.1 0.9 2.6 2.5 4.4 19.8 19.5 1.4 Domestic 4.2 4.0 6.7 8.7 8.2 6.9 13.0 12.2 6.8 25.6 22.9 11.7 38.6 35.1 10.0 16.2 17.2 (5.7) 54.8 52.2 4.8 Total 21.4 21.0 2.2 24.7 23.7 4.2 46.2 44.7 3.3 31.8 28.9 10.0 78.0 73.6 5.9 26.7 25.9 2.9 104.6 99.5 5.1 New destinations for home-based carriers in 9M19
Malaysia Airlines AirAsia/AirAsiaX Malindo Air Pegasus
KUL-Kochi KUL-Taipei-Osaka BKI-BTU KUL-Denpasar-Adelaide KUL-Varanasi SAW-Riyadh SAW-Casablanca KUL-Solo KUL-Fukuoka BKI-SBW KUL-Hokkaido LGK-Phuket SAW-Basra KUL-Pekanbaru KUL-Can Tho BKI-Bandar Seri Begawan KUL-Zhengzhou BKI-SDK SAW-Eindhoven KUL-Quanzhou MKZ-PEN KUL-Chengdu MKZ-LGK SAW-Manchester KUL-Lanzhou KUL-Sydney MKZ-KBR SAW-Venice 43 *MASB Airports refers to the 38 Malaysian airports other than KLIA/KUL operated by Malaysia Airports Sdn Bhd 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 P 0.0 Source: Source: IATA: ax ‘mil Source: Source: Various airport websites, IATA Global Global Drivers +3.3%
KLIA 44.7 Air Passenger Market Analysis
46.2 Sabiha Gokcen
25.9 + 2.9 % ▪ ▪ ▪ 26.7 2018 Asia the Purchasing Despite pace Industry ( 7 November 7 2019) near Pacific from Economic backdrop remains lesssupportiveglobally + amidst Incheon 51.0 5.1 - - some wide term % August Managers’ carriers
a 53.6 . weaker revenue 9M18 recent . The flew + 3.7 Delhi economic
Index 52.3 moderate improvements passenger 3 % . 6 % 9M19 54.3 (PMI) more backdrop upward kilometres continues + international Bangkok 47.2 2.8 across % trend in 48.5 some to (RPKs) key in trend RPKs underlying of economies, + Changi 48.7 2.7 increased the sideways in % region’s September 50.0 demand by including – key Heathrow an 3 + . 60.5 8 0.7 than indication % economies remains % over 61.0 China, a year the firmly that . ago Japan year - Sydney 32.8 0.1 in any . % The to place
and 32.8 sharp September, pace . Brazil, uptick remains Beijing -
75.4 0.2 the % a in
broadly 75.2 well RPKs global below is Hong Kong unchanged composite unlikely -
56.0 1.0 that % 55.4 44 of in Aircraft movements: Foreign carriers continue to add new services and routes
ATM ‘000 Snapshot of new services from foreign based carriers in 9M19 MY Int'l MY Domestic ISG Int'l ISG Domestic Airline Routing Frequency Effective New Services 200.0 Citilink Indonesia Surabaya-KUL 4x weekly 30/1 Thai Airasia Chiang Rai-KUL 4x weekly 31/1 Citilink Indonesia Jakarta-KUL 4x weekly 26/2 Air Busan Daegu-BKI 4x weekly 15/5 133.9 138.7 150.0 125.4 127.4 128.7 128.7 132.8 Air Busan Busan-BKI Daily 22/5 Batik Air Jakarta-PEN Daily 29/5 Kuwait Airways Kuwait-SAW Daily 01/6 100.0 Indigo Chennai-KUL 14x weekly 15/7 Air Arabia Maroc Tangier-SAW 2x weekly 4/7 New Airline Ariana Afghan Kabul-SAW 2x weekly 09/4 50.0 Airlines 87.0 85.6 38.6 88.0 88.5 85.2 33.0 86.2 35.2 89.3 33.4 35.7 33.8 31.8 Jazeera Airways Kuwait-SAW 3x weekly 15/6 Royal Air Maroc Casablanca-SAW Daily 25/6 18.1 20.3 23.5 21.2 21.4 24.2 27.6 0.0 Air Arabia Sharjah-KUL Daily 1/7 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Scoot Singapore-KBR 3x weekly 2/7 Salam Air Muscat-SAW 2x weekly 3/7 KLIA Main klia2 KLIA (KUL) MASB Airports* MY Airports ISG (SAW) MAHB Group
9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var % 9M19 9M18 Var %
International 109.3 112.7 (3.0) 95.8 92.4 3.7 205.1 205.1 0.0 55.4 55.3 0.2 260.5 260.4 0.1 73.1 60.9 20.1 333.7 321.3 3.8
Domestic 39.3 37.0 6.2 57.9 54.4 6.5 97.2 91.4 6.4 302.9 289.4 4.7 400.1 380.8 5.0 100.0 107.5 (7.0) 500.1 488.3 2.4
Total 148.7 149.8 (0.7) 153.7 146.8 4.7 302.4 296.5 2.0 358.3 344.7 3.9 660.7 641.3 3.0 173.1 168.4 2.8 833.8 809.6 3.0
*MASB Airports refers to the 38 Malaysian airports other than KLIA/KUL operated by Malaysia Airports Sdn Bhd 45 Notes
46 Notes
47 MALAYSIA AIRPORTS HOLDINGS BERHAD
MALAYSIA AIRPORTS CORPORATE OFFICE PERSIARAN KORPORAT KLIA 64000 KLIA SEPANG, SELANGOR www.malaysiaairports.com.my
TEL: +603-8777 7000 FAX: +603-8777 7776 EMAIL: [email protected]