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Financial and Operational Results 2018 Full Year

Financial and Operational Results 2018 Full Year

Major Highlights of 2018 vs. 2017 Financials (IFRIC 12 Adjusted post IFRS11):

Q  Consolidated revenue of EUR 1.181m  (+4% vs FY17)

Q  Consolidated EBITDA of EUR 573m  (+13% vs FY17)

Q  Net profit of EUR 255m (+46% vs FY17)

Q  152m passengers served (+31% vs FY17)

Please kindly find below the consensus estimates we have collected from  analysts as follows:

Consensus (EURm, median)

 

12M17

12M18E

chg

Revenue 1

1.132

1.182

4%

EBITDAR 1

673

758

13%

EBITDA 1

508

592

17%

Net Profit 2

175

231

32%

# of analysts

 

14

 

EBITDAR Margin

59,5%

64,2%

 

EBITDA Margin

44,9%

50,1%

 

Notes:

  1. Adjusted for IFRIC 12, EBITDA includes share of profit of equity accounted investees (equity pick-up) 
  2. Net profit attributable to owners of the company

Dividend Proposal

TAV Airports Board of Directors has resolved to propose a dividend of TRY 758 million (50% dividend payout in EUR terms), or TRY 2.0854 gross dividend per share to commence on March 20, 2019, to the approval of the first General Assembly.

Dividend distribution table is available at  http://www.tavyatirimciiliskileri.com/en-EN//Pages/Latest_Disclosures2.aspx 

2019 Guidance

Subject to our traffic and FX assumptions, excluding passenger and EBITDA generated from Istanbul Ataturk Airport operations in 2019, our company’s targets for 2019 are as follows:

            90 to 94 million

           38-42% lower

  • Capex

           between €70m to €80m

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This press release was sourced from TAV Airports on 13-Feb-2019.