11-Jan-2010 12:54 PM

TAV Holding expects EBITDA growth of 20% in 2009, to double passenger numbers by 2020

Turkey’s TAV Airports Holding reports the following financial estimates for the full year 2009 (Reuters, 08-Jan/10-Jan-2010):

  • Revenue: EUREUR630-640 million, compared to a revenue of EUR627 million in 2008;
  • EBITDA: EUR160-170 million, compared to an EBITDA of EUR140 million in 2008.

CEO, Sani Sener, stated the company is aiming to double its passenger numbers to 100 million p/a by 2020 (Reuters, 09-Jan-2010/Bloomberg, 10-Jan-2010). Passenger numbers at its ten airports increased 2% year-on-year in 2009. The company also plans to sell shares in its ground handling unit, Havas, in two to three years.

TAV Airports Holding:
“Our profitability as shown by EBITDA has grown bigger than sales because of measures we took to cut our spending, especially in energy. We started producing our own energy,” Sani Sener, CEO. Source: Bloomberg, 10-Jan-2010.