TAV Airports announces first half results
27-Jul-2016 TAV Airports posted revenue of €503m and EBITDA of €195m in the first half of 2016.
TAV Airports Holding (BIST:TAVHL, "TAV"), a global player in airport operations, announced its 2016 first half EBITDA of EUR 195 million and its 2016 first half revenue of EUR 503 million.
TAV Airports Holding Executive Board Member & CEO Sani Sener stated "Global security concerns continue to dominate the agenda in the global aviation sector. Security concerns are affecting passenger behavior and decreasing travel to countries like ours with intense security issues. We have been operating Ataturk Airport, the third largest hub of Europe since year 2000 and we consider it our home.
While it is one of the best protected places in our country as we see time and again all over the world, sometimes it is not possible to stop terror attacks.
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. In this background, the passenger mix in Istanbul Ataturk Airport has shifted more towards transfer passengers with Origin and Destination (O&D) passengers showing more sensitivity to security risks. In this environment, we have completed the extension gates in Istanbul Ataturk Airport and the runway and taxiway rehabilitation works in Tbilisi Airport.
Words can't express how saddened we are by the loss of our employees and passengers who lost their lives in the heinous attack on our airport. I extend my deepest condolences to their families and loved ones. In the aftermath of attack all members of the TAV Airports family acted very professionally and opened the airport to operation in a very short amount of time. I would like to extend my deep gratitude to all members of the TAV Airports family who showed their support and solidarity in very trying times. We will work together and do our best to heal ourselves and continue serving our passengers as best as we can".
KEY PERFORMANCE INDICATORS*
|
(in EURm) |
2015 1H |
2016 1H |
∆ y-o-y |
|
Consolidated Revenue |
507.8 |
502.6 |
-1% |
|
EBITDA |
220.7 |
194.5 |
-12% |
|
EBITDA margin (%) |
43.5% |
38.7% |
-4.8 ppt |
|
Net Profit |
88.4 |
31.6 |
-64% |
|
Average number of employees |
14,069 |
15,382 |
9% |
|
Number of passengers (m) |
47.9 |
49.2 |
3% |
|
- International |
26.7 |
27.2 |
2% |
|
- Domestic |
21.2 |
22.1 |
4% |
*Adjusted for IFRIC 12 except net profit.
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