TAV increased net profit by 64 percent in 2014

ISTANBUL

TAV, Turkey’s leading brand in airport operations, posted a net profit of 218 million euros in 2014 with an increase of 64 percent compared to the previous year, the company said by a written statement late Feb. 19.

TAV Airports increased its revenue to 983 million euros in 2014 with an increase of 9 percent from the previous year. The number of passengers at the airports operated by TAV reached 95 million with an increase of 14 percent compared to the previous year, the company said.

TAV plans to distribute 306 million liras of dividend this year from its 2014 net profit.

“Three years ago, TAV Airports set a goal of expanding its service companies to the airports in which TAV does not operate. Today, we have managed to take part in 39 more airports with our service companies besides the 14 airports we operate at. In 2014, while our revenue increased 9 percent and reached 983 million euros, our net profit came in at 218 million euros, reflecting 64 percent of growth, fully in line with the guidance we had disclosed in the beginning of the year,” said TAV Airports Holding President & CEO Sani Şener, adding the success of the company’s services unit played a big role in topping the company’s financial targets.

“We topped the Istanbul and overall passenger targets that we had set at the beginning of 2014.

According to passenger traffic statistics for the year, Istanbul Atatürk Airport was the fourth busiest airport in Europe. In order to ensure uninterrupted passenger growth at Istanbul Atatürk, we began expanding this facility in cooperation with the State Airports Authority of Turkey (DHMİ). The investments the DHMİ undertook in the apron area increased the airport’s aircraft parking capacity by 25 percent as of November 2014. A 42 percent total increase in parking capacity will result as these investments are finalized in 2015,” Şener said.

Meanwhile, TAV Airports plans to initiate approximately 75 million euros of investment to increase the capacity of the international terminal. The terminal extension projects will be completed in 2016, Şener noted.

“The company won the tender for the operation rights of Milas Bodrum Airport, increasing the number of airports it operates to 14. At the beginning of 2014, the company completed the construction of İzmir Adnan Menderes Airport’s domestic terminal, which commenced service as Turkey’s largest domestic airport terminal. After the completion of the expansion projects that we will be undertaking here, Gazipaşa Alanya Airport’s capacity will climb to 2 million passengers per year,” Şener said.

TAV Airports operates Istanbul Atatürk, Ankara Esenboğa, İzmir Adnan Menderes, Gazipasa Alanya and Milas Bodrum Airports in Turkey, as well as the Tbilisi and Batumi Airports in Georgia, Monastir and Enfidha-Hamammet Airports in Tunisia, Skopje and Ohrid Airports in Macedonia, Medinah Airport in Saudi Arabia and Zagreb Airport in Croatia.