Press Releases

Press Releases

TAV Airports Holding Increases Operational Profit

TAV Airports Holding Inc. (ISE: TAVHL, “TAV”) increased its operational profit by 35% in the fiscal year ending June 30th 2009.

TAV Airports Holding (ISE: TAVHL, “TAV”) announced a 13.4 million TL (€ 6 million) pretax profit for the first half of 2009 despite difficult macro economical conditions. The company declared a 5.3 million TL (€ 2.5 million) loss after deduction of fiscal charges. In 2008 the company reported a loss of 31.7 million TL (€ 16.9 million).

TAV Airports Holding ended the first half of the year with a 12% growth in revenue due especially to an increase in revenue at Havaş and BTA. Similarly, total operating profit of the company increased by 35%.   

TAV Airports Holding President & Chief Executive Officer M. Sani Şener commented, “We have seen a 12% increase of consolidated revenue and a 35% increase in operating profit. This has occurred during a period in which €200 million of investments were made and employee numbers increased by 7%, reaching 11,775. This owes to the resilience of the company during the economic crisis as well as employee dedication and efficiency.”  

Financial and Operational Information in Brief

 

(€ million)

 

(TL million)

 

 

January-June 2009

January-June 2008

change

January-June 2009

January-June 2008

change

Revenues

270

275

(2%)

552

492

12%

EBITDA

46

43

7%

165

141

      17%

EBITDA margin

17%

16%

-

30%

29%

-

Pretax Profit (Loss)

6,3

(11)

n.m.

13.4

(21)

n.m.

Net Loss (Loss)

(2,5)

(17)

n.m.

(5.3)

(32)

n.m.

Cash flow from operations

7

48

n.m.

(17)

114

n.m.

Investments

200

101

n.m.

430

195

n.m.

Average number of employees

11.775

11.004

7%

-

-

-

Passenger number (million)

18.8

18.6

1%

-

-

-

- International

11.0

11.0

0%

-

-

-

- Domestic

7.8

7.6

2%

-

-

-


Note: Construction revenue and construction expenditure are excluded while calculating operational performance.

Source:  TAV Airports Holding, DHMI, TAV Tunisie, Georgian Authority

www.tavairports.com

About TAV Airports Holding

TAV Airports Holding is the leading airport operator in Turkey with a market share of 48% as per DHMI 2008 passenger statistics. TAV Airports Holding operates Istanbul Atatürk Airport (one of the busiest airports in Europe), Ankara Esenboğa Domestic and International Terminals and Izmir Adnan Menderes Airport International Terminal in Turkey, as well as the Tbilisi and Batumi Airports in Georgia and the Monastir Habib Bourguiba International Airport in Tunisia. Furthermore, the Holding has been awarded the rights to operate the Gazipasa Airport in Antalya, Enfidha-Hammamet Airport in Tunisia, Alexander the Great Airport in the capital Skopje and the St Paul the Apostle International Airport in Ohrid, Macedonia. TAV Airports is also entitled optionally to operate the new cargo airport in Shtip, Macedonia, the construction of which it has undertaken. The consortium formed by TAV Airports Holding and Skonto Buve Inc. a construction company based in Latvia has been selected to operate SJSC Riga International Airport.

TAV Airports operates in other branches of airport operations as well; such as duty free sales, food and beverage services, ground handling services, information technologies, security and operation services. TAV Airports serves 370,000 flights for approximately 300 airline companies and 41 million passengers on average every year.
Company shares have been listed on the Istanbul Stock Exchange since February 23, 2007 as "TAVHL."

www.tavairports.com