Turkey’s leading airport operator; TAV announced its financial results for the first quarter of 2015. TAV increased its revenue by 20% to EUR 227 million and consolidated net profit of TAV Airports increased 51% and reached EUR 31 million. The number of passengers at the airports operated by TAV reached 22 million with an increase of 7% compared to the previous year.
TAV Airports Holding President & CEO Sani Şener stated, “We made a strong start to 2015 in the first quarter. While passengers served grew at 7%, revenue grew at 20% YoY, mainly thanks to strong growth in non-aeronautical revenue and favorable FX movements. Similarly, EBITDA growth was at 18% and net profit grew at 51%, YoY.
With full vertical integration in all areas of airport operations and services, TAV Airports holds a key competitive advantage in the global aviation sector. Today TAV provides a diverse array of services across the globe, which spans its footprint across 54 airports around the world.
In the first quarter of 2015, ATU won the tender to operate duty free areas in Houston George Bush Airport for a period of 10 years. This is the third tender ATU has won outside of the TAV ecosystem in the last twelve months after Oman Salallah and the Tunisia Carthage package. This tender is also important because it establishes its first legitimate foothold in the United States which is an important market in terms of airport infrastructure opportunities.
TAV has also completed the re-construction of Medinah airport on schedule and started the trial runs in April 2015. This airport, with its special place in the Muslim world will now provide threefold capacity for Hajj and Umrah passengers.
Most importantly, TAV started the expansion works in Istanbul Ataturk Airport, whereby it has been demolished the old cargo terminal and are going to invest €75 million to build eight additional bridges, expand baggage systems capacity and add another check-in island. The completion of this investment will complement the capacity enhancements on the airside, undertaken by the State Airports Authority (DHMI) which as a whole will increase the capacity of Istanbul Ataturk to 75 million passengers.