TAV Airports Holding announced a net profit of €16 million in the first quarter of 2013 compared to a net profit of €12 million in the same period of 2012.
TAV Airports Holding CEO and President M. Sani Şener commented, “ All TAV Airports employees including myself are working as hard as we can to increase revenues and decrease costs while maximizing passenger comfort and satisfaction. Our net profit increased 33% this quarter versus the first quarter of 2012. Besides financial success, our company is successfully representing Turkey with 12 airports across six countries. In addition, our focus on social responsibility and sustainability is increasing every day.
We have closed the first quarter of 2013 with the highest passengers served, revenue, EBITDA and net income figures in TAV’s history for a first quarter. Consolidated revenues recorded an impressive 19% YoY growth in the first quarter and reached €252m, in line with like for like passenger growth of 19%. Consolidated EBITDA growth was in line with revenue growth at 18% and reached €55m. On the other hand, consolidated net income increased 33% vs. the first quarter of 2012 and came in at €16m.
Almost all of the airports in our portfolio recorded double-digit growth with our crown jewel Istanbul spearheading the organic growth at 23%. With the addition of Medinah in late June 2012, we were able to serve 1.2 m more passengers in the first quarter of 2013, adding another 9% in inorganic growth. All in all passengers served soared 28% YoY.
In 2012 we made two additions to our portfolio which are Izmir domestic terminal and Medinah airport. As soon as we took over these assets we initiated construction works for additional capacity in both. I am very pleased to announce that all construction efforts in these airports are either on or ahead of schedule, while passengers have already started enjoying TAV quality in both.I would like to congratulate all TAV employees for another strong start to the year and thank all members of the TAV family for making another great quarter possible. “