MacroAsia Corp. said Tuesday its net income grew 132 percent in 2023, driven by the business volume growth across the group’s business units.
The company said it earned P1.07 billion last year, higher than P461.43 million in 2022. Its consolidated revenues improved 64 percent to P8 billion from P4.88 billion.
“This performance is driven by the strong rebound of its core aviation services units, amply supported by its business units that rapidly grew with non-aviation related revenue sources,” MacroAsia said in a statement.
MacroAsia said about P2 billion or 24 percent of its 2023 revenues came from activities outside airport operations, in contrast to 2019 where non-aviation revenues amounted to only P443 million or 7 percent of the total.
“The momentum for topline growth was driven by the group’s strategy to diversify especially during the pandemic period when airports were constrained by passenger mobility and flight restrictions,” the company said.
Food segment revenues surged 74 percent to P3.98 billion from P2.29 billion in 2022, led by the increase in passenger meal sales in the airport and the robust growth of institutional food service clients outside the airport.
Ground-handling and aviation services contributed P3.14 billion, up 53 percent from P2.05 billion in 2022 on flight volume growth.
The company’s aircraft maintenance, repair and over haul associate, Lufthansa Technik Philippines (LTP) contributed a net income share of P562.14 million, higher than P499.81 million it booked in 2022.
