02/17/2017 | Press release | Distributed by Public on 02/17/2017 10:24
In our material event disclosure dated July 27, 2016, we had announced our revised guidance for 2016, under normal market conditions. The initial guidance was announced on February 12, 2016. With 1% increase in consolidated revenue, we met our revenue expectation. We expected a 20% decline in international origin and destination (O&D) passengers in Istanbul which materialized better than our expectations at -16%.Due to the better than expected performance in O&D passengers, EBITDAR (EBITDA before rent), expected at -8 to -10%, also materialized better than our expectations at -4%. Subject to our traffic and FX assumptions, our company's targets for 2017 are as follows: - Passenger growth in Istanbul Ataturk international: 1 to 3 percent, - Flat Istanbul Ataturk international Origin & Destination (O&D) Passengers, - Growth in total number of passengers served by TAV Airports: 4 to 5 percent, - Flat Revenue, - Flat EBITDAR (EBITDA before rent), - Significant net profit growth, - Total capex: around EUR50 million Note: All financial targets are in EUR terms and have been adjusted to reverse the effects of IFRIC 12.