Turkish TAV increases net profit by 51 percent

ISTANBUL

TAV Airports Holding, a global player in airport operations, has revealed a net profit of 31 million euros in the first quarter of 2015, an increase of 51 percent compared to the previous year, as well as revenue of 227 million euros, an increase of 20 percent, the company said in a written statement late on May 11. 

“We made a strong start to 2015 in the first quarter. While passengers served grew at 7 percent, revenue grew at 20 percent, mainly thanks to strong growth in non-aeronautical revenue and favorable forex movements.

Similarly, EBITDA growth was at 18 percent and net profit grew at 51 percent,” said TAV Airports Holding President and CEO Sani Şener.  

“In the first quarter of 2015, TAV’s 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 Salalah and the Tunisia Carthage package. This tender is also important because it establishes our first legitimate foothold in the United States, which we view as an important market in terms of airport infrastructure opportunities,” he added. 

TAV also completed the re-construction of the Medina airport on schedule and started the trial runs in April 2015. This airport, with its special place in the Muslim world will now provide three-folds capacity for Hajj and Umrah passengers.

“Most importantly, we started the expansion works in Istanbul Atatürk Airport, whereby we have demolished the old cargo terminal and are going to invest 75 million euros to build eight additional bridges, expand baggage systems capacity and add another check-in island,” he said.