Subscribe Free
in Business & Finance

TAV Airports increases net profit 49%

Posted 30 October 2017 · Add Comment

TAV Airports Holding has announced its nine month 2017 net profit of EUR 163 million and revenue of EUR 854 million.

TAV Airports Holding Executive Board Member & CEO Sani Sener said: 

“2017 has been a year of recovery from an aviation market that has been in downtrend for approximately 18 months. The recovery in our Turkish airports started in the second quarter and picked up full traction in the third quarter. Istanbul Ataturk Airport’s international Origin & Destination (O&D) passenger growth was 6% for the first nine months. Ankara Esenboga Airport enjoyed significant growth in international passengers (35%), thanks to year-on-year effect of routes that started late 2016. Georgia showed 44% growth in first 9 months, as a result of increased traffic to Russia, former CIS countries, Middle East and Israel. Medinah continued its eye catching expansion with 20% growth. Macedonia traffic managed a double digit growth of 12%, as Wizzair based its 4th aircraft at Skopje in July.

In the first nine months we recorded 5% revenue growth, 12% EBITDAR growth and 49% net income growth in Euro terms. The quarterly revenue, EBITDAR and net profit in the third quarter were the highest in TAV’s history.

The revenue and EBITDAR growth was better than our initial guidance set in the beginning of the year, so we have revised guidance to 1-3% revenue growth for the full year and 6-8% EBITDAR growth, from flat revenue and EBITDAR growth.

We have spent EUR35 million for new investments this year, of which EUR17 million was spent on Tbilisi Airport capacity expansion. Georgia’s 44% passenger growth for the year confirms our decision to invest further in the airport.

We won the concession to operate three new airports in Kingdom of Saudi Arabia (Yanbu, Qassim and Hail). Negotiations on the Cuban airports are ongoing as ATU and BTA are also preparing for new projects in different locations. We now have lounges in fifteen countries including USA, Chile, Germany, Switzerland and Kenya. On the other hand, TAV Technologies is winning IT projects in the Gulf Region. 

During the third quarter Groupe ADP bought 8% stake of Akfen in TAV Airports and international investors bought 3.6% stake of TAV Airports from Tepe and Sera, increasing TAV Airports’ free float to 44.3%. With these transactions both Groupe ADP and international investors have reconfirmed their confidence in TAV Airports and in Turkey in general. TAV Airports will be Groupe ADP’s main international expansion vehicle in our core geographies.   

I would like to thank our shareholders, business partners and employees for their trust and efforts in bringing TAV to where it is today.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

The sound of silence on the flight deck

Airline pilots can at last benefit from a technology that has changed the world for passengers and general aviation pilots around the world. Alan Peaford travelled to Boston, USA, to visit the Bose Corporation and hear about the

Gulf Air’s double daily Bahrain–London 787-9 Dreamliner service takes off

Gulf Air has launched its double daily Boeing 787-9 Dreamliner service connecting Bahrain International Airport and London, Heathrow.

Etihad Airways passes the biennial IATA Operational Safety Audit

Etihad Airways has successfully passed the biennial IATA Operational Safety Audit (IOSA).

Boeing and FedEx express announce order for 24 medium and large freighters

Boeing and FedEx Express today announced a new order for 12 767 Freighters and 12 777 Freighters as the world's largest air cargo carrier continues to invest in the industry's most capable freighters to better serve its customers.

Abu Dhabi Airports opens new sleeping facility for transfer passengers in Terminal 3

Abu Dhabi Airports has the opened of Aerotel’s new airport transit sleeping facility at the Abu Dhabi International Airport.

KhalifaSat flown to Korea with Emirates SkyCargo

KhalifaSat, the first fully UAE-built Earth observation satellite, has been flown to South Korea prior to its launch in Japan later this year. Steve Nichols reports.

TAA SK0902311218
See us at
AIME19BTA3005120219ASDubai BT1004091018GATM BT1004061118Cargo BT1004091018BIAS BT271017161118Istanbul Airshow BT22018MEBAA BT1004121218