Tav Havalimalari Hldg Ord (TAVHF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. I am Gayle, your chorus call operator. Welcome and thank you for joining the Dove Airports Investor Day live webcast to present and discuss the 2024 full year financial results. At this time, I would like to turn the conference over to Mr. Sherekan Kapitan, CEO, and Ms. Burcu Girish, Deputy CEO and CFO. Mr. Kapitan, you may now proceed. Hi, thank you for the introduction. So let me start with the review of year 2024. It was a very good year for us, both operationally and financially. In total, we managed to receive 107 million passengers, which is 11% above our last year's, above 2023 passenger number. The good part is that we had a 13% increase on the international part of the passenger. So we reached up to 71 million passengers at year 2024. Of course, several factors contribute to this success. Major fleet expansion of some airlines, the strong travel demand also, the expansion of the global middle class. In all our airports, we had an exceptional growth. As you know, we are in emerging markets. Not only in Turkey, but the other markets, we had a huge demand, mostly double-digit increase on all our airports. In terms of our financial performance, both our revenue and EBITDA grow by 27%. Our revenue reached to 1 billion 660 million euros. Our EBITDA reached to 489 million euros. Our net income reached also to 183 million. Our net debt to EBITDA improved to 3.5 multiple. So in terms of our strategic investments, we were in a three-year investment period. The three A's, which we call as Almaty Airport, Ankara Airport and Antalya Airport, most of these investments are completed. Almaty is fully completed. We took into operation of the new asset as of June last year. For Antalya, we are expecting the completion of the in...