Summary Info
Dividend Decision for 2024
Update Notification Flag
No
Correction Notification Flag
No
Postponed Notification Flag
No
Decision Date
18.02.2025
Type of Cash Dividend Payment
Cash Dividend Will Not Be Paid
Currency Unit
TRY
Stock Dividend
Will Not Be Paid
Cash Dividend Payment Amount and Rates
Share Group Info
Payment
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (TL)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (%)
Withholding Rate (%)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (TL)
Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (%)
TAVHL, TRETAVH00018
0,0000000
0
0
0,0000000
0
Amount and Rate of Cash Dividend Stock Dividend Payment
Share Group Info
Amount of Stock Dividend (TL)
Rate of Stock Dividend (%)
TAVHL, TRETAVH00018
0
0
Additional Explanations

Our Company has been executing an extensive investment program since 2021.

As part of this program, we have acquired Almaty Airport for $422 million in 2021 and we have built a new international terminal which we opened in June 2024. The total investment that we have made in Almaty Airport including other developments has reached €257 million by the end of 2024

We have already invested €1.813 million in upfront rent in Antalya Airport for the concession until 2052 and we are investing another €850 million with our partner Fraport. We plan to complete our investments in Antalya in April 2025.

In addition, we paid an upfront rent of €119 million and we are investing another €210 million for our new concession in Ankara Esenboga Airport that will last until 2050. We plan to complete these investments in the second quarter of 2025.

We are also making other investments in our airports and services and we are preparing for other new potential projects.

Our consolidated capital expenditures, not including Antalya, for 2024 were €256 million. In 2025, we expect capital expenditures of €140 – €160 million excluding Almaty. In 2025, we also plan to undertake a part of the Almaty Investment Plan which is budgeted between €150 – €300 million.

We have financed this investment program through internally generated cash and financial debt. Our net debt which was €1,01 billion by the end of 2020, reached €1,72 billion by the end of 2024 due to the financing needs required by our investment program.

Considering the large amount of cash required for the extensive investment program described above and also considering the fact that the cost of financing this cash is still significantly high, our Board of Directors has unanimously resolved that in accordance with the Dividend Policy of our Company, a dividend distribution proposal will not be made to the approval of the General Assembly to convene for the fiscal year of 2023.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.

DIVIDEND DISTRIBUTION TABLE
TAV HAVALİMANLARI HOLDİNG A.Ş. 01.01.2024/31.12.2024 Period Dividend Payment Table (TL)
1.Paid-In / Issued Capital
363.281.250
2. Total Legal Reserves (According to Legal Records)
80.886.380
Information on privileges in dividend distribution, if any, in the Articles of Association:
There is no privilege.
*
Based on CMB Regulations
Based on Legal Records
3. Current Period Profit
8.089.054.000
4.963.491.575
4. Taxes Payable (-)
-1.531.067.000
0
5. Net Current Period Profit
6.557.987.000
4.963.491.575
6. Losses in Previous Years (-)
0
0
7. Primary Legal Reserve (-)
0
0
8. Net Distributable Current Period Profit
6.557.987.000
4.963.491.575
Dividend Advance Distributed (-)
0
0
Dividend Advance Less Net Distributable Current Period Profit
6.557.987.000
0
9. Donations Made During The Year ( + )
499.792
0
10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated
6.558.486.792
0
11. First Dividend to Shareholders
0
0
* Cash
0
0
* Stock
0
0
12. Dividend Distributed to Owners of Privileged Shares
0
0
13. Other Dividend Distributed
0
0
* To the Employees
0
0
* To the Members of the Board of Directors
0
0
* To Non-Shareholders
0
0
14. Dividend to Owners of Redeemed Shares
0
0
15. Second Dividend to Shareholders
0
0
16. Secondary Legal Reserves
0
0
17. Statutory Reserves
0
0
18. Special Reserves
0
0
19. Extraordinary Reserves
6.557.987.000
4.963.491.575
20. Other Distributable Resources
0
0
Dividend Payment Rates Table
Share Group
CASH DIVIDEND AMOUNT (TL) - NET
STOCK DIVIDEND AMOUNT (TL)
TOTAL DIVIDEND AMOUNT (TL) / NET DISTRIBUTABLE CURRENT PERIOD PROFIT (%)
DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (TL)
DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (%)
- - -
0
0
0
0
0
TOTAL
0
0
0
0
0