Press Releases

Press Releases

Strongest first half bottomline ever...

TAV Airports Holding (ISE: TAVHL, “TAV”) announced a net profit of €48.5 million in its first half 2012 financials compared to a net loss of  €4.6 million in the same period of 2011.

TAV Airports President & CEO M. Sani Şener commented, “In the first half of 2012, TAV Airports has managed to couple strong growth with the highest first half bottomline ever. The net profit that came in at €48 million is a record for the first half of the year. This record setting first half net profit came together with an increase in consolidated revenues of 20% which reached €483 million, while EBITDA increased 23% to reach €129 million and free cash flow was also very strong at €62 million. The strength of the bottomline gives us a lot of optimism for the rest of the year and also goes to show that our present portfolio has entered the stage whereby it can both deliver exceptional growth and generate handsome amounts of cash and net profit. The exceptionally strong financial results came on the back of superb passenger growth. The total number of passengers served by TAV Airports increased 34% y-o-y and reached 31 million in the first half of 2012.  Both organic and inorganic growth boosted passenger numbers in the first half of 2012 resulting in remarkable growth. While the organic growth was an impressive 20%, 14% additional passenger growth came from the addition of the İzmir domestic terminal to our portfolio. On the other hand, Tunisian passenger recovery has so far been exceptional at 56% on a cumulative basis. The recovery in Tunisia was also well reflected in our consolidated financials. The operational highlight of the second quarter was the takeover of the operations of the Medinah Airport in Saudi Arabia at the end of June 2012. At the heart of the Muslim world, the Medinah Airport is also poised to deliver exceptional growth in the coming years. These results give us many reasons to be very positive for the year-end results. I would like to thank all TAV employees for making another great quarter possible.“

KEY PERFORMANCE INDICATORS

 (IFRS, in mn €) 

1H2012

1H2011

∆ y-o-y 

Consolidated Revenue*

483

404

20%

EBITDA*

129

105

23%

EBITDA margin (%)

26,6%

26,0%

0,6 ppt

Net Profit (Loss)

48

(5)

n.m.

Average number of employees

20.975

19.388

8%

Number of passengers (mn)

31,4

23,4

34%

- International

17,2

13,8

25%

- Domestic

14,2

9,6

47%


*:Revenues and EBITDA have been adjusted to reverse IFRIC 12.

About TAV Airports Holding

TAV Airports, the leading airport operator in  Turkey,  operates  12 airports:  Istanbul  Atatürk,  Ankara  Esenboga,  Izmir  Adnan  Menderes  Antalya  Gazipasa  in Turkey, Tbilisi and Batumi  in Georgia, Monastir and Enfidha in Tunisia, Skopje and Ohrid in Macedonia, Medinah in Saudi Arabia and Riga (only commercial areas) in Latvia.
TAV Airports provides service in all areas of airport operations such as duty-free, food and beverage, ground handling, IT, security and operations services. The Company and its subsidiaries, provided service to approximately 451 thousand flights and 53 million passengers in 2011. The Company’s shares are listed in the Istanbul Stock Exchange since February 23, 2007, under the ticker code “TAVHL”