TAV Airports stock: TAV Airports reports EUR 173 million profit for TAV Airports stock

Published on 10/24/2026 at 05:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month revenue rose 5.00 percent to EUR 1.461 billion. TAV Airports stock has 2026 revenue guidance of EUR 1.88-1.98 billion.

Nine-month operating picture

TAV Airports reported EUR 173 million in net profit after minority interest for the first nine months of 2026 on October 22, 2026.
Revenue rose 5.00 percent to EUR 1.461 billion, while EBITDA increased 7.00 percent to EUR 502 million.
The company maintained 2026 revenue guidance of EUR 1.88 billion to EUR 1.98 billion and EBITDA guidance of EUR 580 million to EUR 630 million.

TAV Airports stock, airport services, nine-month results, profit growth, Borsa Istanbul, Illustration mit AI erstellt.

TAV Airports reported EUR 173 million in net profit after minority interest for the first nine months of 2026, more than double the EUR 75 million recorded in the prior-year period. Investing.com reported the figures on October 22, 2026, after the company presented its third-quarter and nine-month results.

Revenue growth outpaced passenger growth

Revenue reached EUR 1.461 billion for the first nine months of 2026, up 5.00 percent year over year, while EBITDA increased 7.00 percent to EUR 502 million. The EBITDA margin improved by 0.70 percentage points to 34.30 percent from 33.60 percent, showing that earnings growth exceeded the increase in sales.

TAV Airports handled 89.4 million passengers in the period, up 3.00 percent from a year earlier. International traffic rose 1.00 percent to 59.2 million passengers, while domestic traffic increased 6.00 percent to 30 million. Ground handling EBITDA rose 11.00 percent in the third quarter, and service companies produced 24.00 percent EBITDA growth for the nine-month period.

What drove the EUR 173 million profit?

The profit increase was partly supported by lower foreign-exchange losses, deferred tax gains and smaller losses from equity-accounted investments. The comparison also benefited from EUR 103 million of non-cash one-off items included in the prior-year nine-month period, so the headline increase does not represent operating demand alone.

Free cash flow rose 17.00 percent to EUR 214 million, while net debt stood at EUR 1.649 billion at the end of September, down from EUR 1.833 billion in June. Management also said duty-free spending per passenger rose 21.00 percent to EUR 10.00, but described that level as a plateau, making future growth more dependent on passenger volumes.

Guidance remains unchanged

Management retained its 2026 revenue guidance of EUR 1.88 billion to EUR 1.98 billion and EBITDA guidance of EUR 580 million to EUR 630 million. The passenger forecast stands at 112 million to 118 million, including 72 million to 77 million international passengers, while capital spending is expected to remain below EUR 300 million. The investor-relations calendar identifies October 21, 2026 as the 2026 third-quarter financial release. TAV Airports lists the release alongside its nine-month financial statements and presentation.

Airport portfolio remains mixed

Ankara, North Macedonia and Almaty supported traffic, while Antalya international passengers fell 3.00 percent because Turkish tourism remained sensitive to pricing. Georgia recovered after pressure in the first half of 2026, but the regional exposure remains a factor for investors assessing the airport operator.

TAV Airports operates 15 airports in 8 countries and also provides duty-free, catering, ground-handling, information-technology, security and lounge services. The combination of 5.00 percent revenue growth, a 34.30 percent EBITDA margin and lower net debt gives the results a stronger operating profile, although the profit comparison includes material non-cash effects.