Press Releases

Press Releases

A successful first half from TAV Airports

TAV Airports continued to lever topline growth into rich EBITDA growth in the first half of 2011 as well and increased EBITDA 23% over first half of 2010 to €105 millon with a consolidated EBITDA margin of 26%.

TAV Airports Holding Inc. Chief Executive Officer M. Sani Şener commented, “As TAV Airports we have increased our consolidated revenue to €404 million marking 15% increase. Likewise, consolidated EBITDA grew by 23% compared to last year.” Şener also stated, “In the first half of 2011, our company continued to increase its cash generation capacity and generated €25 million positive Free Cash Flow. Although we have had a very successful 2011 year to date at the operating level, the exchange rate developments caused us to book non-cash foreign exchange losses to the order of €10 million, which kept us from reflecting our performance at the bottom-line level.” 

Şener remarked “TAV Airports has recorded a solid 10% passenger growth in the first 6 months of the year 2011 and has again topped the European airport passenger market that experienced an exceptionally strong year in 2011. Continuing to post healthy passenger growth in line with our long term expectations - against the unrest in Tunisia - TAV Airports has yet again demonstrated the resilience of its airport portfolio..”

In teh first half of 2011, TAV Airports served 23.3 million passengers, which was 21.3 million in the same period of 2010, at 10 airports in Turkey and abroad.

BRIEF FINANCIAL AND OPERATIONAL INFO

 (in mn €) 

1H11

1H10

∆ y-o-y 

Consolidated Revenue

404

351

15%

EBITDA

105

85

23%

EBITDA margin (%)

26.0%

24.3%

1.7 ppt

Net Profit (Loss)

(4.6)

8.5

n.m.

Average number of employees

19.388

16.011

21%

Number of passengers (mn)

23,3

21,3

10%

- International

13,6

12,6

8%

- Domestic

9,7

8,7

12%

nm: not meaningful
Note: The data stated in the Pres Release is published upon the calculation of the adjusted revenue and EBITDA.

About TAV Airports Holding

TAV Airports Holding is the leading airport operator in Turkey. TAV Airports Holding operates Istanbul Ataturk Airport Ankara Esenboga Domestic and International Terminals and Izmir Adnan Menderes Airport International Terminal, Gazipasa Airport in Antalya in Turkey, and the Tbilisi and Batumi Airports in Georgia, the Monastir and Enfidha Airports in Tunisia, as well as Skopje and Ohrid Airports in Macedonia. 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, and security and operation services. TAV Airports serve 420K flights and 48 million passengers on average per year. The company shares are listed in the Istanbul Stock Exchange since February 23, 2007, under the name of "TAVHL".

http://ir.tav.aero

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