TAV Airports Holding Company reports highest ever net profit
Shares in Turkey's TAV Airports Holding Company closed 0.9% higher yesterday, upon the release of the company's financial report for the 12 months ended 31-Dec-2009. The airport operator reported a record high net profit for the year of EUR51.5 million, up ten-fold from a EUR4.7 million net profit in 2008.
- TAV Airports Holding Company reported a record high net profit of EUR51.5 million in 2009, a ten-fold increase from the previous year.
- Revenues for TAV increased by 2.0% year-on-year to EUR608.9 million, driven by a 3.0% increase in passenger numbers.
- Aeronautical revenues accounted for 43% of TAV's total operating income in 2009, followed by duty-free services at 33%.
- EBITDA for TAV rose by 23.0% to EUR136.7 million, resulting in an EBITDA margin of 22.4%.
- TAV's CEO attributed the company's success to its resilience to external shocks and effective crisis management.
- Other news highlights in the aviation industry include financial reports from Seattle-Tacoma International Airport, Toronto Airport, Gategroup, AdR, and updates on passenger numbers from various airports worldwide.
During the period, revenues rose 2.0% year-on-year to EUR608.9 million on a 3.0% year-on-year increase in passenger numbers to 42.1 million passengers. The weight of aeronautical revenues (including guaranteed passenger fee revenues from airports in Ankara and Izmir) in total operating income has increased from 42% in 2008 to 43% in 2009. Second revenue contribution comes from duty-free services with 33%, followed by other revenues 24%.
EBITDA jumped 23.0% year-on-year to EUR136.7 million, resulting in an EBITDA margin of 22.4% (+3.8 ppts year-on-year).
TAV CEO, Sani Şener, stated the record high figures reflects the company's "resilience to external shocks" and demonstrate the "best examples for making rapid decisions in crisis atmosphere and analytic management that is the only method for leading such a voluminous business".
The full financial report of TAV Airports Holding Company is available in today's edition of Airport Business Daily. Sign up to for exclusive access to the latest strategic news updates on airports, including these global financial and traffic highlights today:
- Seattle-Tacoma International Airport's total revenues down by 8.1%;
- Toronto Airport 2009 financials;
- Gategroup 2009 financials;
- AdR 2009 financials;
- Perth Airport reports 7% rise in Feb-2010 domestic pax numbers;
- John Wayne Airport reports 3% rise in Feb-2010 pax numbers;
- Denver International Airport reports 3% rise in Jan-2010 pax numbers;
- Madrid-Barajas Airport reports 7% rise in Feb-2010 pax numbers;
- Zurich Airport reports 9% rise in Feb-2010 pax numbers;
- Vienna International Airport reports 5% rise in Feb-2010 pax numbers;
- Irish Air Traffic reports 3% drop in Feb-2010 traffic;
- AENA Feb-2010 traffic.
Selected airports daily share price movements (% change): 11-Mar-2010
