TAV Airports Holding announce a net profit of €20 million in Q1 of 2014

TAV Airports Holding president and CEO M. Sani Şener said:  

“In line with these projections, we achieved a good set of passenger results in the first quarter of 2014.  Overall, passenger growth was 16% for TAV Airports, while Istanbul grew 12% in international passengers. In the first quarter of 2014 our EBITDA grew 27% and reached €67m. Our net profit increased 28% and reached €20m. We achieved these results in an environment where shop  renovation  in the  duty free at the departures area in Istanbul and weak Turkish Lira and Ruble have put  significant pressure on our retail revenues. At the end of 2013, we started implementing a turnaround strategy for Havas centered on better cost control, higher operational efficiency and revenue optimization. Based on this strategy, Havas financials visibly improved compared to 1Q13.”  

Şener  added: “We completed the construction of the Izmir Adnan Menderes Domestic Terminal and opened it in March 2014. This terminal, being the largest domestic terminal in Turkey will serve the Aegean region well and boost tourism and business. During the quarter, we won the tender for the lease of Milas-Bodrum airport and upon necessary approvals plan to operate it for 20 years. I would like to thank all members of the TAV family for always giving their best at what they do even in uncertain economic environments.”

 CEO M. Sani Şener