MacroAsia Corp. posted a net income of P1 billion illion in 2017, up 146 percent from a year ago, after consolidated revenues increased 26 percent to P2.9 billion in the same year.
The company said in a statement strong operational results were driven by the growth of core aviation services businesses, namely Lufthansa Technik Philippines, MacroAsia Airport Services Corp. and MacroAsia Catering Services.
MAC’s venture into the water supply and concession business also started to pick up, after an operational startup year in 2016.
Lufthansa Technik’ revenues in 2017 stood at $255 million, up 25 percent from 2017, with $153 million representing core revenues. Its 2017 net income jumped 76 percent to $37.5 million from $21.3 million in 2016. MacroAsia owns 49 percent of Lufthansa Technik Philippines
LTP’s MRO (maintenance, repair and overhaul) business was boosted by the gain of two new Airbus A380 customers: British Airways and Korean Air. These big planes are not being used for commercial flights in NAIA, but they are being sent solely for repair in the LTP facility within the MacroAsia Special Ecozone in Naia.
MacroAsia Catering Services (MACS) posted total revenue of P1.5 billion last year, up 7 percent from a year ago.
MACS is building a new commissary/central production facility that will be used principally for institutional accounts other than airlines. The facility will be operated by its subsidiary, MacroAsia SATS Food Industries.
The new unit is expected to expand MacroAsia’s business in the non-airline food segment starting this year. MACS has already been serving the meal requirements of some business process outsourcings, banks, casinos and even caterers who require mass production of meals.
MacroAsia Airport Services Corp., the ground handling unit of MAC, registered revenues of P1 billion, up 52 percent from P679 million in 2016.
“The growth is mainly caused by the increased number of airports being served. From 7 airport locations in 2016, MASCORP ended 2017 by serving PAL in 27 airport locations within the country. MASCORP is expected to continue to operate in more locations in 2018 and is also seen to operate in the new Terminal 2 in Mactan, Cebu,” MAC said.