Turkish airport operator TAV Airports has recorded revenues of €822m (US$884m) for the first nine months of 2015, a 14% increase when compared with the same period in 2014. The group also recorded EBITDA of €395m (US$424m), an increase of 21% over the same period.
Sani Sener, president and CEO, TAV Airports, said, “2015 is turning out to be another very strong year for TAV Airports, as we had expected. We served 78 million passengers in total during the first nine months of 2015, an increase of 8%. International passengers at Ataturk Airport also increased by 11%.
“With strength in both aviation and commercial areas, total revenue increased by 14%. Operating leverage, lower concession fees and favorable foreign exchange rates (FX) all helped with the EBITDA, which increased 21% compared with 2014, despite significant negative effects from the terror attack in Tunisia. Significant FX fluctuation has caused us to book some noncash losses such as translation and deferred tax, causing the net profit to remain flattish for the first nine months of 2015. Nevertheless, cash flow was stronger than ever with net debt decreasing 12%.”