TAV Airports Holding EBITDA up 29% in 2012

Turkey's TAV Airports Holding revenue up 25% - financial highlights:

• Revenue: EUR1099 million, +25% year-on-year;
  • Aviation: EUR280 million, +33%;
  • Sales of duty free goods: EUR249 million, +23%;
  • Ground handling: EUR218 million, +14%;
  • Commission from duty free sales: EUR106 million, +21%;
  • Catering services: EUR76 million, +47%;
• EBITDA: EUR332 million, +29%;
• Net profit: EUR124.1 million, +135%;
• Passenger numbers: 71.5 million, +36%;
  • Domestic: 30.8 million, +48%;
  • International: 40.8 million, +28%;
• Aircraft movements: 573,309, +28%;
  • Domestic: 242,258, +45%;
  • International: 331,051, +19%;
• Duty free spend per passenger: EUR15.1, +1%;
• Total assets: EUR2249 million, +8.0%;
• Cash and cash equivalents: EUR63.2 million, -17.3%;
• Total liabilities: EUR1712 million, +12.7%. [more - original PR]

TAV Airports Holding: "The most important contributors to the passenger growth in 2012 have been Istanbul's breathtaking expansion, addition of Medinah and Izmir domestic to our portfolio and the exceptional recovery in Tunisia after the Arab Spring. These inorganic growth initiatives of 2012 have started generating cash from the first day." Source: Company statement, 22-Feb-2013.