TAV IT

TAV AIRPORTS HOLDING AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2008
(Amounts expressed in Euro unless otherwise stated)
Terminal
Operations
Catering
Operations
Duty Free
Operations
Ground Handling
and Bus
Operations (*)
Other
Operations
Consolidation
Eliminations Consolidated
31 December 2007
External revenues 193,366,131 35,339,395 135,529,675 73,463,093 21,025,303 - 458,723,597
Inter-segment revenue 80,477,921 7,744,110 - 45,897 19,168,288 (107,436,216) -
Construction revenue 53,914,284 - - - - - 53,914,284
Construction expenditure (52,941,288) - - - - - (52,941,288)
Operating expenses (202,842,090) (44,538,319) (127,376,814) (56,917,708) (29,255,938) 87,234,735 (373,696,134)
Other operating income 11,158,114 7,342,526 2,767,177 1,149,028 10,681,981 (12,793,630) 20,305,196
Other operating expenses (73,011,906) (7,808,592) (2,623,354) (8,944,143) (29,193,365) 34,667,311 (86,914,049)
Operating profit/(loss) 10,121,166 (1,920,880) 8,296,684 8,796,167 (7,573,731) 1,672,200 19,391,606
Net finance expense (67,973,470)
Income tax benefit 4,745,445
Loss for the period (43,836,419)
Other information
Segment assets 1,198,583,635 14,354,961 34,089,522 56,915,877 646,765,771 (475,305,712) 1,475,404,054
Total assets 1,475,404,054
Segment liabilities (921,716,329) (13,467,119) (26,579,457) (15,686,388) (206,364,503) 45,878,050 (1,137,935,746)
Total liabilities (1,137,935,746)
Additions to tangible, intangible assets
and airport operation right 109,907,357 2,337,438 2,834,783 3,453,015 1,731,792 - 120,264,385
Tangible, intangible assets and airport
operation right depreciation and amortisation (21,112,852) (1,796,853) (390,115) (5,331,443) (1,580,677) 108,741 (30,103,199)
Concession rent expense (140,789,005) - - - - - (140,789,005)
Additions to concession expenses 107,355,756 - - - - - 107,355,756
(*) HAVAŞ, providing ground handling and bus operations, was fully consolidated after the acquisition of the remaining 40% shares by TAV in year 2007, whereas it was
proportionally consolidated until 30 September 2007.