TAV Airports Holding has increased its net profit by 300% as of the period ending September 30, 2009.
TAV Airports Holding quadruples its net profit
For the first nine months of 2009, TAV Airports Holding announced a 75 million TL (35 million EUR) net profit. Company profit was 19 million TL (10 million EUR) for the same period last year.
TAV Airports Holding CEO M. Sani Þener evaluated the growth of the company as follows: “During a period in which passenger numbers at European airports decreased by 7%, the number of passengers using the airports operated by TAV increased by 1%, reaching 32 million. The number of passengers using the Istanbul Ataturk International Terminal also increased by 6%. The consolidated turnover of the company increased by 17%, operating profit (EBITDA) increased by 45%, and our net profit increased 293% based on TL, compared to the same period last year.”
Sener said that TAV Airports has also succeeded decreasing its consolidated loans from 972 million EUR to 917 million EUR, from June to the end of September, while increasing profitability. He also remarked, “The fact that this growth has been realized during a crisis period, with a total investment of 256 million EUR and an increase of 9% in employment, is a result of the focus on efficiency and innovation by management and employees. The success of TAV personnel can be better understood by taking into account these financial and operational results.”
SUMMARY OF FINANCIAL AND OPERATIONAL INFORMATION
(Million EURO)
January-September
January-September
Change
January-September
January-September
Change
2009
2008
2009
2008
Income
EBITDA
EBITDA Margin
Net Profit (Loss)
Cash flows (used in) Operating activities
Investments
Average number of employees
Number of passengers (million)
- International
- Domestic
464
115
%25
35
112
256
12.204
31,8
19,05
12,4
457
91
%20
10
127
169
11,198
31,5
19,4
12,1
%1
%26
-
%242
(%12)
%51
%9
%1
%1
%2
991
246
%25
75
239
576
-
-
-
-
849
169
%20
19
236
314
-
-
-
-
%17
%45
-
%293
%1
%74
-
-
-
-
PS: The data on the table have been calculated excluding construction income and expenses.
Source: TAV Airports Holding, DHMI, TAV Tunisia, Georgia Authority
TAV Airports Holding has also proven its leadership in employment by being ranked among the top three companies with the “highest increase in employment,” as determined by the Capital 500 Awards.
TAV is among “Capital 500 Awards” leaders
SERKAN KAPTAN
Business Development and Investments Director
TAV Airports Holding
In “The Top 500 Private Companies” survey conducted by Capital magazine for the 12th time this year, 24 companies were mentioned among the leaders in various categories and awarded. TAV Airports has proven its leadership in employment, being quoted among the top three companies in the “highest increase in employment” category. Serkan Kaptan, Business Development and Investments Director of TAV Airports Holding, received the award on behalf of the company.
The award ceremony held on November 24, 2009 at the Ritz Carlton Hotel, was attended by Minister of Industry and Trade Nihat Ergun and opened with the songs of Ayten Alpman. Awards were given in eight categories; “Top Three Companies with the Highest Turnover,” “Highest Increase in Employment Rate,” “Highest Increase in Profit,” “Top Exporting Companies,” and “Highest Increase in Export Rate.” The Ex-Minister of Industry and Trade, Þahap Kocatopçu was presented with a “Lifetime Achievement Award” at the ceremony.
The Oltan Hazelnut and Assan Aluminum companies were awarded along with TAV Airports in the “Companies with the Highest Increase in Employment Rate” category.
For the first nine months of 2009, TAV Airports Holding announced a 75 million TL (35 million EUR) net profit. Company profit was 19 million TL (10 million EUR) for the same period last year.
Index
SERKAN KAPTAN
ETIKETLER: