TAV Airports, excluding the Atatürk Airport, served 71.6 million passengers in the first nine months of 2019 and achieved an increase of 8% compared to the same period of the previous year.
In the first nine months of the year, TAV Airports achieved a turnover of €592 million, with a 9% rise compared to the same period of the previous year. Following the closure of Istanbul Atatürk Airport, TAV`s net profit from its ongoing operations increased by 28% and was recorded as €93,8 million. The company`s global footprint reached 90 airports in 28 countries, achieving 31% of EBITDA from service companies.
TAV Airports President and CEO Sani Şener: “We have been exerting efforts to provide our passengers with the best travel experience and add value to the country`s tourism in the regions in which we have been performing activities. As TAV, we closed the third quarter as the most effective period in terms of the aviation and tourism sectors, with good operational and financial results.
Turkey continues to offer all its charming tourism potential with competitive prices and breaks a new record every month based on the number of visitors. The number of foreign visitors has increased by 15 percent compared to last year due to high demand. In general, almost all of the airports in our portfolio experienced a very efficient year in terms of international passengers and such an increase in operations is reflected to our financial results.
The growth of our service companies continues without slowing down. With the most recent operation in our service portfolio -the CIP lounges we launched at JFK Airport in New York-, the global footprint of TAV Airports has reached 90 airports in 28 countries. Today, services constitute 31% of our total EBITDA. The total turnover of our portfolio, excluding Istanbul, increased by 9% in the first nine months of 2019 and reached €592 million. EBITDA, again excluding Istanbul, increased by 2 percent and reached €282 million. Our net profit from our ongoing operations, excluding Istanbul, reached €98 million with an 8% increase. In the first nine months of 2019, our total net profit was €150 million. The profit increase in our ongoing operations was above the EBITDA growth rate due to the decrease in the volatility of the exchange rate. Such results clearly indicate that our post-Istanbul portfolio, which we call TAV 2.0, continues to create value and grow, and we continue to work to expand this portfolio with profitable inorganic growth opportunities.”