TAV Airports served 87 million passengers in the first nine months

TAV Airports announced the financial and operational results for the first nine months of the year. International traffic rose by 4% to 59 million passengers.

TAV Airports, a member of Groupe ADP, increased its revenue by 13% to EUR 1390 million in the first nine months of 2025. The company increased its EBITDA by 14% to EUR 467 million. 

TAV Airports CEO Serkan Kaptan stated “During the first nine months of 2025, we sustained positive momentum across our portfolio despite a mixed macro backdrop. International passenger traffic increased by 4%, supported by strong performance in the majority of our assets. While Antalya Airport experienced softer international traffic growth—reflecting the strong lira and certain geopolitical factors—our consolidated financial performance remained robust.

Consolidated EBITDA grew 14% to €467 million in the first nine months. On the bottom line, net income for the nine-month period was €75 million. Non-cash items—primarily deferred tax and translation effects linked to euro appreciation—pressured the first half; these effects moderated in the third quarter, where net income grew 21% year on year.

When we consider the highlights across our portfolio, in Antalya we significantly elevated the duty free, food & beverage, and lounge offerings, enhancing the passenger experience in addition to significant terminal capacity increase. The commercial ramp up continues, with additional fashion, specialty retail, and restaurant openings underway.

In Ankara the first full quarter under the new concession of additional 25 years delivered a strong boost to both revenue and EBITDA in the third quarter. Ongoing international traffic growth, supported by low cost carriers, is expected to further underpin profitability.

In Almaty,  execution of the investment plan launched in the last quarter continues, with total investments estimated at €315 million with a target for completion by the end of 2027. We have secured notable tariff increases aligned with our additional investments. These tariffs are expected to ramp up through 2030, rebalancing the airport’s EBITDA mix toward aviation related revenue.

In Madinah construction of a new international terminal has commenced to facilitate the continuous passenger traffic growth. We are the airport operator in the JV while holding a 26% stake. The project is expected to complete by 2028 and will be financed without any equity injection from TAV Airports.

In Georgia we are in advanced discussions with the local authority regarding a concession extension to end in 2031. The discussion includes an investment to increase capacity to 10 million passengers and an update to commercial terms.

Our portfolio’s breadth, continued commercial enhancements, and measured capital allocation support resilience through cycles. While we remain attentive to currency dynamics and geopolitical developments, our focus is clear: operational excellence, customer experience, and value accretive growth. To our employees, shareholders, and business partners—thank you for your unwavering commitment to and support of TAV Airports.”

KEY PERFORMANCE INDICATORS

About TAV Airports

TAV Airports provides integrated services in all areas of airport operations, with a global footprint at more than 100 airports in more than 30 countries. In 2024, TAV Airports welcomed 107 million passengers across its portfolio. A member of Groupe ADP, TAV Airports is part of the leading airport management platform globally. Through its subsidiaries, TAV is active in airport service businesses, including duty-free, food and beverage, ground handling, IT, private security, and commercial area management. The company is quoted on Istanbul Stock Exchange.

For further information: Erhan Ustundag,
+90 212 463 30 00/2097 and +90 530 228 80 59
erhan.ustundag@tav.aero
www.tavairports.com
https://ir.tav.aero