TAV Havalimanlari Holding A.S.

TAV Havalimanlari Holding A.S.

267.00
TRY
-20.00
(-6.97%)
-1.10EPS
102.54BMarket Cap
Oct 28Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.82
2.51
2.76
3.07
2.83
1.81
2.06
0.83
1.45
2.91
3.61
4.57
5.02
4.81
Basic EPS, GAAP
0.37
0.59
0.55
0.33
0.46
0.66
1.03
-0.78
0.12
0.34
0.69
0.5
0.14
-0.06
Free Cash Flow per Basic Share
0.8
-0.06
0.51
1.28
0.73
0.83
0.19
-0.09
0.6
0.4
-0.41
0.17
0.37
-0.06
Dividend per Share
0.17
0.19
0.29
0.32
0.18
0.23
0.37
0.16
0.01
0.02
0.04
0.04
0.01
- -
Book Value per Share
1.63
2.01
2.22
2.22
2.44
2.85
3.63
2.55
2.76
3.32
3.88
4.43
4.36
4.25
Tangible Book Value per Share
-1.47
-1.42
-2.95
-2.85
-2.38
-1.85
-1.14
-2.2
-2.52
-1.89
-1.1
-0.29
-1.63
-1.63
Basic Weighted Avg Shares
363
363
363
363
363
363
363
363
361
362
363
363
363
363
Sales/Revenue/Turnover
1,026
912
1,002
1,115
1,029
657
749
301
522
1,051
1,310
1,660
1,823
1,746
Operating Margin (%)
22.52
29.94
34.54
28.34
29.87
25.71
24.17
-12.28
14.04
20.54
18.86
17.09
19.89
16.56
Depreciation Expense
69
74
85
105
128
101
156
96
76
96
138
206
198
195
Net Income, GAAP
133
214
200
120
167
240
373
-285
45
122
249
183
51
-21
Effective Tax Rate (%)
29.44
19.7
28.49
43.11
24.43
24.62
32.36
- -
38.03
16.38
10.94
17.82
48.02
125.2
Profit Margin (%)
12.93
23.44
19.98
10.73
16.28
36.59
49.8
-94.53
8.57
11.62
19.02
11.02
2.78
-1.2
Working Capital
387
565
19
-107
-85
75
177
-197
-40
21
143
43
-270
-122
LT Debt
1,175
1,357
1,464
1,272
1,094
1,167
939
620
977
1,448
1,697
1,672
1,337
1,592
Total Equity
626
746
813
807
882
1,028
1,310
935
1,011
1,225
1,426
1,623
1,609
1,557
Return on Invested Capital (%)
8.34
9.83
9.31
6.28
9.55
4.18
5.15
- -
1.28
8.76
10.61
7.6
4.19
-1.36
Return on Capital (%)
9.75
13.08
10.75
6.95
8.29
11.21
15.74
- -
4.76
8.13
11.39
8.32
3.43
-2.05
Return on Common Equity (%)
24.13
32.32
26.08
14.81
19.77
25.05
31.71
-25.42
4.66
11.11
19.05
12.12
3.18
-1.36

Capital Structure

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
756
471
481
LT Borrowings
1,187
1,352
1,415
LT Finance Leases
150
175
177
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
363
363
363
Market Capitalization
2,147
2,176
1,924

Working Capital

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
935
750
897
Cash, Cash Equivalents & STI
478
211
308
Accounts Receivable, Net
136
136
173
Inventories
57
55
56
Total Current Liabilities
1,205
958
1,018
Payables & Accruals
- -
- -
- -
ST Debt
756
471
481
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.25%
11.74%
-0.83%
Free Cash Flow
-109.54%
-198.21%
121.18%
Net Income, GAAP
-1.54%
12.51%
-72.32%
Sales/Revenue/Turnover
15.74%
47.15%
9.83%
Total Cash Common Dividend
0.22%
0.64%
-76.91%

Quarterly Revenue

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
321
411
499
428
1,660
2025
378
445
- -
433
1,823
2026
361
507
- -
- -
- -

Quarterly Earnings Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.2
0.29
-0.01
0.5
2025
-0.13
-0.01
- -
-0.07
0.14
2026
-0.16
0.18
- -
- -
- -

Quarterly Dividends Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.04
2025
- -
- -
- -
- -
0.01
2026
- -
- -
- -
- -
- -

Company Description

CEO
Vehbi Serkan Kaptan
Full Time Employees
33,714
Sector
Transportation
Industry
Other transportation
Address
Vadistanbul Bulvar Istanbul IB Turkey 34485
IPO Date
Feb 23, 2007
Business
TAV Havalimanlari Holding A.S. is a leading airport operations and services company primarily engaged in airport management, construction, and related services. The company operates a diversified portfolio of airports and airport-related services including terminal operations; duty-free retail and food and beverage services; ground handling and cargo services; technology solutions for airport management; and real estate development related to airport infrastructures. TAV's core products and services include passenger terminal management, aviation services such as ground handling and IT solutions, retail operations primarily through duty-free shops, facility management, catering services, and airport construction and consultancy. The company’s operations span multiple countries, including Turkey, Georgia, Tunisia, North Macedonia, and other international locations. Founded in 1997 and headquartered in Istanbul, Turkey, TAV Havalimanlari serves a broad customer base comprising airlines, passengers, retail customers, and commercial tenants within airport environments. In the recent 1-2 years, TAV Havalimanlari Holding has undergone significant strategic developments, including expansion into new markets through acquisitions and strategic partnerships to enhance its service portfolio. The company has launched new airport projects while also modernizing and digitalizing its airport facilities to improve passenger experience and operational efficiency. Additionally, TAV has advanced its retail services and technology offerings, strengthening its commercial revenues. These changes reflect a strategic focus on broadening its regional presence and integrating innovative services within airport ecosystems. The company remains a key player in the aviation industry serving extensive international routes and expanding airport infrastructure projects. TAV Havalimanlari operates primarily within the aviation and airport services industry, catering to commercial airlines, passengers, retail consumers, and government entities. The company’s business segments include airport operations, duty-free and retail management, ground handling and cargo services, and technical services. Its geographic footprint covers Turkey, Balkans, North Africa, and parts of the Middle East and Eurasia, emphasizing markets with growing air traffic and infrastructural development needs. As a parent company, it holds subsidiaries specializing in various airport and aviation-related operations supporting a comprehensive approach to airport management and ancillary services. The company leverages its headquarters in Istanbul to consolidate its international operations and strategic planning. This description reflects TAV Havalimanlari Holding’s comprehensive offerings and its recent corporate developments to maintain and grow its leadership position in airport management and aviation services.

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