Subscribe Free
in Business & Finance

TAV Airports increased its consolidated revenue by 1% to EUR 1,092 in 2016

Posted 13 March 2017 · Add Comment

TAV Airports Holding the global brand of Turkey in airport operations, provided service to 104 million passengers at 14 airports, operated in seven countries, in 2016.

TAV Airports Holding President and CEO Sani Şener said: “2016 was a challenging year for the aviation sector, both in Turkey and abroad. Security-related concerns had a negative impact on the aviation industry. And yet, TAV achieved to increase the number of passengers served by 2 percent compared to 2015 thanks to its stable portfolio. Our consolidated revenue for the year was EUR 1,092 million, still 1 percent up compared to 2015; mainly thanks to other operating incomes particularly contributed by the newly created businesses.

“EBITDAR declined by 4 percent, mainly due to high volume of low margin businesses and projects, as well as the change in passenger composition at Atatürk Airport. Meanwhile, the decrease in our net profit compared to 2015 was a result of the increase in leasing amounts paid to the state due to the increase in Euro. All in all, the decrease was also caused by the increased depreciation and leasing amounts, mainly stemming from Milas Bodrum International Terminal, and conversion of deferred tax asset of TAV Tunisia.

“For 2017, the Board of Directors has resolved to submit a dividend of TRY 248 million to the approval of the General Assembly. Whilst this amount corresponds to a payout of 50 percent, which is the general approach; it is also a clear indicator of our ‘smart growth’ policy that balances the growth with the dividends. I find the social benefits that we create for our country, employees and clients as a company as equally important as our profitability. This year, we paid around TRY 1.5 billion to the state in the form of leasing amount, taxes and social security payments. In 2016, 23 percent of our combined revenue resulted from our international operations. Furthermore, TAV invested EUR 108 million to increase passenger comfort and create employment opportunities.

“In 2017, we expect to see an increase by 4 to 5 percent in total number of passengers, a flat revenue & EBITDAR and a significant increase in net profit. Moreover, capital expenditure of approximately EUR 50 million is expected for 2017.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Operations from the ground up

Keith Mwanalushi looks at the expansion of ground support operators and equipment in the Middle East region as the pressure mounts to remain competitive and maintain commercial viability.

Emirates announces A380 service to Nice and adds Monaco transfers by helicopter

Emirates Airlines has launched a daily A380 service to Nice, gateway to the French Riviera and Provence. The daily A380 service will start on July 1, 2017.

Etihad Airways and Norlands celebrate the 2000th Flying Nanny

Etihad Airways has celebrated the graduation of its 2000th Flying Nanny, continuing its relationship with Norland, the respected UK-based higher education college which specialises in 'early years' education.

UK bans passengers from Queen Alia Airport from carrying laptops, tablets and large phones

The UK authorities issued new rules that ban passengers on flights from Queen Alia International Airport and other airports in the region departing to London from carrying laptops and tablets in the aircraft cabin, in addition to the

Emirates expects busy spring break travel period

Emirates expects high passenger traffic on its flights this upcoming weekend starting from Thursday 23rd March as travellers head abroad for spring and holiday break. Over 89,000 travellers will be passing through Emirates Terminal 3

Qatar Airways welcomed Orbis Flying Eye Hospital to Doha

Qatar Airways welcomed Orbis Flying Eye Hospital to Doha with an official reception at Doha International Airport (DIA).

TAA
See us at
Aeropodium BT2802240417EBACE17 BT0103240517Kuwait APADS BT1602270317