TAV Airports announces nine months results
TAV Airports posted revenue of €814m and EBITDA of €349m in nine months of 2016.
TAV Airports Holding (BIST:TAVHL, “TAV”), a global player in airport operations, announced its 2016 nine-month financials, with revenue of EUR 814 million and EBITDA of EUR 349 million.
TAV Airports Holding Executive Board Member & CEO Sani Sener stated “In 2016, the aviation industry is affected by security concerns both on a global scale in our region. Despite these, TAV Airports Holding attained 2% growth in passenger numbers y-o-y.
In the first nine months of 2016, TAV Airports realized almost stable revenue, with 7% and 35% drop in EBITDAR and net profit, respectively, compared to the same period of 2015. We had informed our investors that there had been major one-offs in the first half and there would be a significant decrease in finance expense in the second half, due to refinancings we had undertaken. This is exactly what happened, with almost stable net profit figure in the third quarter of 2016. Other than that, we are on track with the revised guidance we disclosed in late July.
As we mourn our tragic losses both for our country and in our airport, we know that we have to continue to stay strong, upright and trust in the future of our company. This is the best answer we can give to these attacks. From our previous experience in crises, we know that aviation rebounds are fast. We are continuing to look for new investment opportunities both in and outside of our country..“