The year in review was noteworthy for the Group as we registered an 11.5% and 11.8% rise in revenue and earnings respectively on the back of a 7.9% increase in passenger traffic for the Group’s network of airports. Moreover, Group net earnings grew by a remarkable 224.0%. Our good performance is indicative of the strong foundations and robust strategies we have set in motion under our five-year business plan, Runway to Success 2020 (RtS2020).
Since I came on board as your new Chairman in June 2017, I have had the privilege of seeing the Malaysia Airports’ team step up to deliver above and beyond what they had set out to achieve for the year, striding forward on both financial and operational fronts.
I am delighted to present you the Annual Report and Audited Financial Statements of the Group for the financial year ended 31 December 2017 (FY2017).
GROUP PASSENGER TRAFFIC MOVEMENTS
In 2016, Malaysia Airports formally launched its five-year business plan ‘Runway to Success 2020’ (RtS2020) guided by our vision of becoming ‘The Global Leader in Creating Airport Cities’. The RtS2020 business plan encapsulates our business goals and our vision for the future. It sets out how we intend to create a sustainable business that delivers growth and allow us to capitalise on future opportunities, providing a firm financial base from which to expand and make further investments.
Total Airport Experience (TAE)
We believe that organisations that act in the best interest of its stakeholders will continue to grow and thrive. Our sustainability approach is based on the practice of high standards of governance across our entire operations. We have aligned our initiatives with selected United Nations 17 Sustainable Development Goals where we are able to exert influence and bring about change through our business. Our own sustainability strategy is structured into five pillars as outlined in our Sustainability Framework:
Over the years, we have successfully evolved into a diversified airport operator group with solid fundamentals. Moving forward, we aim to create more opportunities and value for our stakeholders.
Committed to growing responsibly, we continue to manage and reduce impact on the environment caused by our business operations.
Our employees are our most valuable asset, as skilled employees prove to be a vital component in delivering a high level of competencies in our business practices.
We continue to build on our proud tradition of giving back to the broader community by supporting and strengthening community engagement especially within the vicinity of our operations.
Our mission is centred on creating joyful experiences especially at our airports. Our aim is to become a service leader by embedding a customer-centric culture into our operations.
25 years ago, Malaysia Airports embarked on a journey to connect Malaysia to the world. Today, we continue to build on this lasting legacy of serving the nation.