ISTANBUL – TAV Airports has posted record H1 net profits of €53 million (+7 percent year-on-year) on consolidated revenues of €567 million (+17 percent). The figures were aided by surging passenger numbers at the group's airports – this figure climbed by +24 percent to 39 million. TAV Airports Holding CEO and President M. Sani Sener said: “The first half of 2013 has been exceptionally strong in terms of operational performance. EBITDA growth reached +28 percent and consolidated EBITDA came in at €166 million in the first half of 2013. “We managed to improve the EBITDA margin 2.4 percentage points in 2013 year-on-year. On the back of this robust operating performance free cash flow generation enjoyed a +61 percent increase and reached €105 million. The strong operating performance came on the back of passenger growth that soared +24 percent to 39 million, where double digit growth continued in most of our airports. “While we added 3.7 million passengers from Istanbul during the first half, we also added 2.4 million passengers from Madinah as inorganic growth. Despite pressures on the bottom line, we had a +7 percent net income increase and we finished the first half of the year with a net income of €53 million (126 million TL). This is a record high net income figure for the first half of the year.” Sener underlined that construction works initiated in Medinah and Izmir were both ahead of schedule (and are due to open in the next year). TAV Airports operates Istanbul Atatürk, Ankara Esenboga, Izmir Adnan Menderes and Antalya Gazipasa Airports in Turkey as well as Tbilisi and Batumi airports in Georgia, Monastir and Enfidha-Hamammet airports in Tunisia, Skopje and Ohrid Airports in Macedonia, plus Madinah Airport in Saudi Arabia. — SG
