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NEWS Last modified on November 14, 2014

TAV Airports Holding posts net profit rise of 52%

TAV Airports Holding has announced a net profit of €174 million in first nine months of 2014, up by a massive 52% compared to the previous year.

In the period, revenues at the Turkish airport operator increased by 4% reaching €720 million, while EBITDA came in at €327 million, which was a growth rate of 9%.

Executive board member and CEO, Sani Şener, explains: “It has been 14 years since we started operations at Istanbul Ataturk Airport and during this time we have added 13 more airports to our portfolio which goes to show the dynamism of TAV Airports.

“The tradition of expanding our portfolio through the addition of new and profitable airport operations continues with Milas Bodrum Airport. In July 2014, we took over the operations of the domestic terminal in Milas Bodrum. In October 2015, we are going to take over the international terminal, as well.

“We are going to serve our country and our shareholders by developing Milas Bodrum to its maximum potential in the years to come.”

Şener says the partnership formed with Aéroports de Paris - creating the largest airport platform in the world - provides a global network of know-how and business acumen, which TAV “will exploit to its fullest” by finding and acting on the best airport development opportunities around the world.

He continues: “TAV takes a great pride in its ability to perform at maximum capacity in very diverse cultures and now we have taken this ability to a global level.

In December 2013 we had also added a minority stake in Zagreb Airport to our portfolio. Zagreb and Milas Bodrum together have contributed 4% to our passenger growth in the first nine months of 2014.

TAV SenerSani Şener

“The 14% passenger growth we have recorded would instead be 10% without inorganic growth.”

Sener adds that the third quarter of 2014 was a great period for inorganic growth in TAV Airports’ service companies.

He explains: “Offering our passengers more than 52,000 products with the ‘travel value’ concept, ATU Duty Free won tenders to operate duty free shops at five airports in Tunisia (including the capital city of Carthage) and also in Salalah Airport in Oman.

“As a result, ATU will provide services at a total of 19 airports across seven countries. TAV Operation Services started to provide lounge services for Air France-KLM’s passengers at three airports in Germany.

“Now, passengers at Frankfurt, Munich and Stuttgart airports will have the chance to experience the exclusive services we provide under our brand ‘prime-class’.

“BTA began operating the food court area of a large shopping mall in Istanbul called ‘Uniq Istanbul’. Portfolio expansion through our service companies is going to be crucial in the years to come.”

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