TAV Airports More Than Doubles Net Profit

Sani Şener, CEO of TAV Airports. (TAV)

Sani Şener, CEO of TAV Airports. (TAV)

TAV Airports Holding announced a net profit of €124 million (US$157m) in 2012, compared to a net profit of €53 million ($69.3m) in 2011.
Sani Şener, CEO, commented:  “We finished the year operating 12 airports in six countries, spanning a geography of three continents.  It gives me great joy now to see that TAV Airports has become a global brand in airport management, synonymous with quality, and that we are welcome with enthusiasm wherever we set foot for airport operations.”
TAV’s operations company is now in 77 airports, with Havaş providing ground handling services to 40 locations and the company’s IT business installed in Saudi Arabian airports.
Also in 2012, Aéroports de Paris (ADP) acquired 38% of TAV Airports.
Mr Şener added:  “We served 72 million passengers from all over the world pointing to an impressive growth of 36%.  According to ACI [Airports Council International] data, Istanbul, Ankara and Izmir are among the fastest growing European airports with Istanbul topping the list among large airports.  With the exceptional growth in 2012, Istanbul Ataturk became the sixth largest airport in Europe.”
According to the company, consolidated revenues increased 25% to reach almost €1.1 billion ($1.4bn), compared to €881 million ($1.2bn) in 2011.  Consolidated EBITDA was €332 million ($434m), up from €257m ($336m), representing a 29% increase.
Mr Şener said:  “To crown a superb 2012, we plan to distribute the second dividend in TAV history out of the 2012 earnings.  The board of directors has decided to distribute 50% of net profit, totalling €62 million ($81m), which will be presented to the General Assembly for approval.”