TAV Airports EBITDA down in 1H2016 due mainly to higher Istanbul rent

TAV Airports revenue down 1% - financial highlights for six months ended 30-Jun-2016:

• Revenue: EUR502.6 million, -1% year-on-year;
• • Aviation: EUR158.9 million, -1%;
  • Commission from duty free sales: EUR113.0 million, -6%;
  • Ground handling: EUR63.8 million, -10%;
  • Catering services and retail: EUR56.1 million, +6%;
• EBITDA: EUR194.5 million, -12%;
• Net profit: EUR31.6 million, -64%;
• Passenger numbers: 49.2 million, +3%;
• Domestic: 22.1 million, +4%;
• International: 27.2 million, +2%;
• Duty free spend per passenger: EUR14.8, -1%. [more - original PR]

TAV Airports: "From our experience in 14 countries and 65 airports around the world, we know that recovery from one-off security shocks is fast. We operate in a resilient sector that reacts to crises with fast recoveries. We have experienced this many times in the past. The passenger weakness manifested itself especially in the second quarter but still the overall passengers increased 3% YTD in our portfolio." M Sani Sener, CEO. Source: Company statement, 27-Jul-2016.