TÜRKIYE. Duty-free retail, food & beverage and lounge services all turned in notable performances amid a strong first-half showing from TAV Airports.
Group revenue grew +31% year-on-year to €732 million, while EBITDA rose +47% to €215 million and net income reached €81 million.
Duty-free spend per passenger rose +6% year-on-year to €9.2, which combined with strong traffic growth (see chart below) helped drive a +26% year-on-year rise in revenue to €27.8 million.
Catering services posted a +31% increase to €77.2 million and lounge and loyalty card business was up +89% to €70.5 million. Car parking revenue rose +40% year-on-year to €13.5 million.
TAV Airports CEO Serkan Kaptan said: “This level of net income that we achieved in the first half of the year was only -13% below the all-time high first-half net income that we recorded in 2018. It makes us very happy to see that the significant investments we have made in the last three years are starting to pay off.”
He added: “We completed the first half of 2024 with +20% international and +17% total passenger growth versus 2023. A shorter winter season and the fleet growth strategies of many of our major airlines supported the growth of passenger traffic in our airports.”
Below are highlights of the H1 performance, including a look at the strong performances from ATÜ Duty Free, BTA (food & beverage) and TAV Operation Services (lounges). ✈
