TAV Airports EBITDA down 9% in 'challenging' 2016, expects flat revenue and EBITDAR growth in 2017

TAV Airports revenue up 1% - financial highlights for the 12 months ended 31-Dec-2016:

• Revenue: EUR1092 million, +1% year-on-year;
• • Aviation: EUR352.7 million, +4%;
  • Ground handling: EUR141.4 million, -10%;
  • Commission from duty free sales: EUR241.5 million, -5%;
  • Catering services and retail: EUR113.0 million, +2%;
• EBITDA: EUR445.0 million, -9%;
• Net profit: EUR127.1 million, -39%;
• Capital expenditure: EUR108 million, +23%
• Duty free spend per passenger: EUR14.4, +1%;
• Total assets: EUR3101 million;
• Cash and cash equivalents: EUR317 million;
• Total liabilities: EUR2294 million. [more - original PR]

TAV Airports: "In 2017, we expect to see an increase by 4 to 5 percent in total number of passengers, a flat revenue & EBITDAR and a significant increase in net profit. Moreover, capital expenditure of approximately EUR 50 million is expected for 2017," Sani Şener, President and CEO. Source: Company statement, 17-Feb-2017.