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TAV reports stable net profit in 2010.


Turkey’s TAV Airports Holding reported revenue rose 23% in 2010, although net profit was stable for the year at EUR52 million. EBITDA was up 27% year-on-year to EUR212 million. Passenger numbers at TAV's airports rose 13% to 47.6 million. Shares in TAV Airport Holdings rose 3.4%.

Turkey’s TAV Airports Holding highlights for the 12 months ended 31-Dec-2010:

  • Revenue**: EUREUR785 million, +23% year-on-year;
    • Aviation: EUR201.8 million, +24%;
    • Sale of duty free goods: EUR165.8 million, +17%;
    • Ground handling: EUR152.0 million, +34%;
    • Commission from duty free sales: EUR77.8 million, +14%;
    • Other services: EUR47.8 million, +25%;
  • EBITDA*: EUR212 million, +27%;
  • Net profit: EUR52 million, stable;
  • Passenger numbers: 47.6 million, +13%;
    • Domestic: 18.3 million, +11%;
    • International: 29.3 million, +14%;

*Excludes construction revenue and construction expenditure **Includes guaranteed passenger fee revenues from airports in Ankara and Izmir

Aéroports de Montréal financial highlights for the 12 months ended 31-Dec-2010:

  • Revenue*: USD404.3 million, +12.0% year-on-year;
  • EBITDA: USD168.2 million, +8.0%;
  • Operating cash flows: USD69.3 million, -39.3%;
  • Passenger numbers: 13 million, +6.1%. 

*Based on the conversion rate at CAD1 = USD1.02819

Guangzhou Baiyun International Airport Co announced the sale of  USD76 million (CNY500 million) of one-year bonds at 4.38% coupon.

Selected ABD daily share price movements (% change): 03-Mar-2011

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