Subscribe Free
in Airports

TAV Airports revenue reached EUR 1.1 billion in 2017

Posted 22 February 2018 · Add Comment

TAV Airports Holding increased passengers served 10% and reached 115 million.

The company increased revenue 3% and reached EUR 1,143 million. The company will continue to create social benefit to foster economic growth in its operating geography.

TAV Airports Holding Executive Board Member & CEO Sani Sener said:

“The main theme of 2017 for us and the aviation sector in general was a sharp recovery from a very difficult 2016.

“In 2017, our consolidated revenue increased 3% and reached EUR 1143 million. EBITDA increased 13% and reached EUR 519 million with improved cost control. We served around 115 million passengers in 2017, indicating 10% growth compared to 2016. We finished the year with 9% growth in Istanbul Ataturk Airport international O&D passengers and 7% growth in Istanbul international passengers. Our net profit grew at 37% and reached EUR175 million. In all items we have either met our revised guidance or have performed better than guidance, due to better than expected passenger recovery.

“In 2017, we distributed TRY248 million in dividends in line with our “smart growth” strategy and our official dividend policy of 50% payout. Similarly, for 2018, our Board of Directors has resolved to submit for shareholder approval, a dividend of TRY406 million, out of 2017 earnings at the General Assembly meeting, which corresponds to a payout of 50%. We will continue to produce value for our investors both through regular dividend payments and addition of new concessions to our portfolio for further enhancement of future returns.

We are expecting another strong year in 2018 with 10 to 12 percent growth in total TAV passengers Under our traffic and FX assumptions and assuming Istanbul Ataturk Airport will operate for the full year in 2018, we expect 6 to 8 percent growth in Istanbul Ataturk Airport international passengers, 9 to 11 percent growth in Istanbul Ataturk Airport international O&D passengers, 2 to 4 percent growth in consolidated revenue, 5 to 7 percent growth in EBITDA, double digit increase in net profit and approximately EUR 80 million capital expenditures compared to 2017.” 

Sener  concluded: “I would like to thank our shareholders, our employees and all our stakeholders for building one of the truly global Turkish brands. We will continue to serve the world proudly with the best-in-class know how that we developed in our home country. “

* required field

Post a comment

Other Stories
Advertisement
Latest News

Etihad Airways’ inflight magazine wins two awards

Etihad Airways’ inflight magazine, Atlas, published by London based Ink, has received two Communicator Awards in the major categories of Design Features – Photography and Design Features – Overall Design.

DAE secures four-year funding boost

Dubai Aerospace Enterprise (DAE) has signed a landmark unsecured four-year revolving credit facility with an initial commitment of US$480 million and an accordion feature that allows the facility to be increased to up to US$800

The Rotary Club

Dave Calderwood spotlights the work of the Middle East’s largest helicopter operator.

Gulf Air Supports Dreams Society with children’s initiative

Gulf Air recently partnered with Dreams Society, a non-profit organisation establish in 2011 with a mission to fulfill the dreams of children affected with terminal illnesses and debilitating diseases.

Oman Air reintroduces special Ramadan Iftar Meal Box

Oman Air has reintroduced its special inflight offering for its valued guests observing Ramadan.

UAE in the swing with GlobalEye

Saab unveiled its new GlobalEye swing role surveillance system (SRSS) aircraft during two days of ceremonies at Linköping, Sweden. The first day was closed, but was attended by a UAE delegation. Jon Lake reports.

TAA SK0902311218
See us at
GATM BT1004061118BIAS BT271017161118EBACE 2018ASDubai BT1004091018Cargo BT1004091018Istanbul Airshow BT22018MEBAA BT1004121218