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NEWS Last modified on April 29, 2016

TAV Airports reveals Q1 rise in revenues and EBITDA

TAV Airports Holding has announced its 2016 first quarter EBITDA of €82 million (+4%) and revenues of €231 million, a rise of 2% on the correspondimg period a year ago.

Executive board member and CEO, Sani Sener, is delighted with the performance in what he traditionally believes to be "the weakest season for the aviation industry".

He says: "We had a very challenging start, mainly due to security concerns driven by increased geopolitical risks.

"Despite these, TAV Airports Holding realised 6% growth in passenger numbers year-on-year, while Istanbul Atatürk Airport enjoyed the same growth in international passengers.

"In the first quarter of 2016, TAV Airports attained consolidated revenue growth of 2% and EBITDA growth of 4%, compared to the first quarter of 2015. We achieved these results, in an environment where the change in passenger mix towards transfer passengers have put significant pressure on our financials."
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He goes on: "Capital expenditures were almost flat at €24 million, with ongoing investment in Istanbul Atatürk Airport extension project and runway and taxiways rehabilitation project in Tbilisi International Airport, which we conduct to maximise passenger comfort and satisfaction.

"We distributed a total of TRY348 million in  cash dividends in 2016 in line with our 50% payout policy. In the future, we are going to remain on our track record of ‘smart growth’ strategy and continue to balance growth with dividends.

"Going forward, we will focus on the organic growth of our existing airports portfolio and the enlargement of this portfolio by addition of new airport operation assets.

"The third pillar of our strategy is the vertical growth of our service companies. We will continue to seek value accretive potential opportunities across the world. Currently, TAV is representing Turkey with 65 airports all around the world, both through airport and service operations. 

|I would like to thank all our shareholders, business partners and employees for their trust in and dedicated efforts for the TAV Airports brand.“

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