TAV’s quarterly income at 52.3 million euros

ISTANBUL

Airport operator TAV has reported that its net income was 52.3 million euros in the second quarter of 2022.

Revenues grew 39 percent to 262.4 million euros from the same quarter of 2019, while EBITDA increased 21 percent to 96.4 million euros.

Net finance expenses of the company increased by 43 percent in the second quarter from two years ago.

In the first half of this year, revenues rose by 21 percent to 412 million euros compared with January-June 2019 and EBITDA grew 11 percent to 129 million euros.

“Revenue was positively affected by ongoing passenger recovery and addition of Almaty,” the company said, noting that in the first half international passengers reached 79 percent of 2019.

Passenger traffic at the airports TAV operates increased by 129 percent to 29.9 million in January-June from the same period of 2021. But passenger traffic was down 22 percent compared with January-June 2019.

International passenger traffic surged 235 percent to 16.96 million on an annual basis. In the first half of 2019, the international passenger tally was 21.5 million.

Domestic passengers grew 61 percent year-on-year to 12.9 million, however the number of domestic passengers fell by 23 percent from the first half of 2021.

In its revised guidance for 2022, the company said it expects revenues to be between 900 million and 940 million euros this year, forecasting to serve 71 million to 76 million passengers. It also forecast that net income would be above 50 million euros in 2022.