TAV AIRPORTS REPORTS RISE IN REVENUE AND PASSENGER TRAFFIC

Figures released today by Global airport operator, TAV Airports, show that its revenues soared to Ђ1.1 billion in 2017 as its portfolio of airports handled 115 million passengers (+10%).

TAV Airports' executive board member and CEO, Sani Sener, stated: “The main theme of 2017 for us and the aviation sector in general was a sharp recovery from a very difficult 2016.

"In 2017, our consolidated revenue increased 3% and reached Ђ1,143 million. EBITDA increased 13% and reached Ђ519 million with improved cost control. We served around 115 million passengers in 2017, indicating 10% growth compared to 2016. 

"We finished the year with 9% growth in Istanbul Atatürk Airport's international O&D passengers and 7% growth in Istanbul international passengers. 

"Our net profit grew at 37% and reached Ђ175 million. In all items we have either met our revised guidance or have performed better than guidance, due to better than expected passenger recovery."

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He continues: "In 2017, we distributed TRY248 million in dividends in line with our 'smart growth' strategy and our official dividend policy of 50% payout. 

Similarly, for 2018, our Board of Directors has resolved to submit for shareholder approval, a dividend of TRY406 million, out of 2017 earnings at the General Assembly meeting, which corresponds to a payout of 50%. 



"We will continue to produce value for our investors both through regular dividend payments and addition of new concessions to our portfolio for further enhancement of future returns.

"We are expecting another strong year in 2018 with 10% to 12% growth in total TAV passengers under our traffic and FX assumptions and assuming Istanbul Ataturk will operate for the full year in 2018."