TAV Airports announced the financial and operational results for the first three months of 2023. TAV Airports served a total of 7,4 million passengers in the first three months of the year, 6,8 million on international flights and 14,2 million on domestic flights. International traffic at the airports operated by TAV increased by 74 percent compared to the same period of the previous year.
TAV Airports Chairman of the Executive Board Serkan Kaptan said, “It is with great sadness that we witnessed the destruction caused by the earthquake that occurred in our country. Our Havaş and TGS teams, working at the airports in the region, continued to work with great devotion to ensure that aid could reach, while struggling with the destruction caused by the earthquake. The destruction we face requires long-term and comprehensive support.” used his statements.
The captain said, “TAV Airports and our subsidiaries have provided and continue to provide cash and in-kind aid to those affected by the earthquake until today.” he said:
“While we mourn for what we have lost, we will use all our strength to help those who are left behind to hold on to life. International travel demand continues to be strong. With the increasing demand, the international traffic at our airports in the first three months of the year increased by 2022 percent over 74 and 2019 percent over 36. In addition, Russian airline companies and travel agencies focused on Russia announced that they expect a 2023 percent increase in the number of flights between Russia and Turkey in 50. For these reasons, we continue to expect a very strong season in 2023 as well.”
Expressing that Almaty experienced a significant growth in international cargo flights in 2022, Kaptan said, “This year, international passenger flights are also accompanying this growth. The growth of traffic in two different markets in Almaty is also reflected in the financial results. The progress of the construction of the new international terminal, which will double the capacity and increase it to more than 14 million passengers, reached 53 percent as of the end of March. With the new terminal, which we expect to open in 2024, we will both realize a significant increase in service quality and offer a wide range of retail options equipped with duty-free sales, private passenger lounge and food and beverage options to our passengers. he said.
Kaptan said, “After a very good quarter operationally, we increased our turnover by 68 percent and EBITDA by 34 percent. Our first quarter EBITDA of 44 million euros was also 2019 percent higher than the EBITDA we achieved in the first quarter of 17, which showed our pre-pandemic performance. In addition to the one-off earthquake tax, rising interest rates and increased financing expenses due to the appreciation of the euro were effective under EBITDA.” said.
Stating that the realization of expenses in the first quarter, which is normally the weakest quarter of the year, increased their effects on net profit and they closed the period with a loss of 45 million Euros, Kaptan continued his statement as follows:
“However, in order to better evaluate these results, we must say that all financial results, from turnover to net profit, were better than we expected and we continue to expect very strong results for the rest of the year. We continue to build TAV's future together with new assets and investments. We would like to thank our employees, shareholders and all business partners for their contributions, with whom we have created this future together.”