TAV IT

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TAV Airports Holding Annual Report 2008
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)
• 60.00% equity shareholding with 50% voting power, in TAV Tbilisi, a joint venture established in Georgia. Summary of financial
information of TAV Tbilisi, not adjusted for the percentage ownership held by the Group is as follows:
Balance Sheet 31 December 2008 31 December 2007
Current assets 4,307,985 10,869,793
Non-current assets 86,467,903 96,349,033
Current liabilities (13,111,527) (54,478,752)
Non-current liabilities (50,007,903) (14,232,925)
Income Statement 2008 2007
Total revenues 17,345,233 17,584,563
Total expenses (23,152,692) (18,630,335)
Loss for the year (5,807,458) (1,045,772)
• 50.00% equity shareholding with 50% voting power, in CAS, a joint venture established in KKTC. Summary of financial
information of CAS, not adjusted for the percentage ownership held by the Group is as follows:
Balance Sheet 31 December 2008 31 December 2007
Current assets 1,252,664 -
Non-current assets 728,736 -
Current liabilities (1,334,388) -
Income Statement 2008 2007
Total revenues 1,599,965 -
Total expenses (2,913,807) -
Loss for the year (1,313,842) -
• 32.40% equity shareholding with 32.40% voting power, in TAV Gözen, a joint venture established in Turkey. Summary of financial
information of TAV Gözen, not adjusted for the percentage ownership held by the Group is as follows:
Balance Sheet 31 December 2008 31 December 2007
Current assets 180,914 -
Non-current assets 2,896,750 -
Current liabilities (2,402,855) -
Non-current liabilities (15,485) -
Statement of Operations 2008 2007
Total revenues 28,980 -
Total expenses (214,446) -
Loss for the year (185,466) -