Annual Report 2008 Contents
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annual report 2008 contents 2 TAV Airports Holding Operations Map 4 Vision, Mission and Corporate Values 5 TAV Value Chain 6 TAV Group at a Glance Shareholding Structure Organizational Structure Milestones 12 Message from the Management 14 Board of Directors 17 Senior Management 21 Committees 22 Key Financial Indicators 23 Key Operational Indicators 30 2008 at a Glance 34 2008 Activities Airport Operations Istanbul Atatürk Airport Ankara Esenboğa Airport Izmir Adnan Menderes Airport Antalya Gazipaşa Airport Georgia, Tbilisi International Airport Georgia, Batumi International Airport Tunisia, Monastir Habib Bourguiba International Airport Tunisia, Enfidha Zine El Abidine Ben Ali International Airport Macedonia, Skopje Alexander the Great International Airport Macedonia, Ohrid St Paul the Apostle International Airport Macedonia, Shtip Cargo Airport Service Companies Ground Handling: Havas Operations and Maintenance Services: TAV O&M Duty Free: ATU Catering Services: BTA Information Technology Services: TAV IT Private Security Services: TAV Security 82 Trade Fairs 86 Investor Relations and Share Performance 89 Corporate Learning and Human Capital Management 91 Corporate Governance Principles Compliance Report 105 Corporate Social Responsibility 108 Corporate Reputation Management 109 Sustainability and Environmental Awareness 113 Quality 114 Agenda for the Ordinary General Assembly Meeting 115 Auditors’ Report 117 Consolidated Financial Statements and Independent Audit Report Bringing people together... BA- TUM 2 tav aırports holdıng operatıons map Our goal is to serve an average of 100 million passengers annually by 2017 Ohrid Skopje Shtip MACEDONIA Enfidha Monastir TUNUSIA BA- TUM Batumi Tbilisi İstanbul GEORGIA Ankara TURKEY İzmir Alanya 4 TAV Airports Holding Annual Report 2008 vısıon, mıssıon and corporate values With our information capital and service quality, we are ranked among the top companies worldwide. Our Vision Our Corporate Values To be the pioneering and leading airport operating company in our Professionalism: We perform our duties with the target regions (Europe, Russia utmost diligence and at the highest standards, following global developments related to our work. and the Commonwealth of We consider our jobs and job-related priorities in all Independent States, the Middle our interactions. East, Africa and India). Respect: We act in line with ethical standards as a fundamental rule, prioritizing respect for people, the environment, laws and regulations. We behave Our Mission in an honest, transparent, fair and responsible To create the highest value manner in all our endeavors. for all stakeholders in airport Dynamism: Having adopted the principle of a operations through our dynamic and flexible work ethic, we work in an customer-oriented management efficient, result-oriented manner, no matter what the circumstances. Constantly remaining aware approach. of environmental conditions and monitoring change, we respond and adapt to change promptly. Innovation: We continually create opportunities for improvement and innovation in all processes, with an emphasis on customer satisfaction. They are aware that TAV’s difference stems from innovative practices, and they employ their best efforts to ensure that their services are contemporary and creative. Teamwork: Being aware that cooperation, mutual commitment, expertise and knowledge sharing are the building blocks of success, we consider teamwork the assurance of personal and professional success, supporting teamwork in all endeavors. TAV Value Chain Human Capital and Teamwork: We aim to fortify our distinguished position we had Value Creation: As TAV Airports Holding, we will achieved with our young and dynamic team continue to generate value for our shareholders formed by the most qualified professionals in with our energy and determination. Turkey and to generate value through our highly Regional Player: Being one of the strongest qualified human resources, our most valuable regional players of Europe, Russia and the asset. Commonwealth of Independent States, the Performance: We have serviced approximately Middle East, Africa and India, we will continue to 370 thousand flights and 41 million passengers expand our business. of 300 airline companies on average annually. Customer Satisfaction: With our vast know-how, This volume makes us one of the leading airport highly qualified human resources and advanced operating companies in the world. technology, we will maintain our service approach Growth: Having become an international brand based on customer satisfaction in operations and with an ever-growing business volume and management. successful operations abroad, we are moving forward with determination towards our target of “Serving an average of 100 million passengers annually by 2017”. 6 TAV Airports Holding Annual Report 2008 tav group at a glance The journey from İstanbul to three continents in just 11 years Year: 1997. Location: İstanbul… TAV Airports Holding was Projects for people and about people… founded as a joint venture of Tepe and Akfen Groups, TAV Airports Holding is further strengthening its market after they were awarded the bid for İstanbul Atatürk position in Turkey, Eastern Europe, the Caucasus and Airport International Terminal, to operate in one of the North Africa by taking decisive strides with successful world’s most challenging sectors, airport operations. The projects, undertaking projects for and about people with first concrete step of TAV’s success story, this project more than 11 thousand employees on three continents. also exhibited Turkey’s modern face to the outside world. TAV Airports Holding successfully operates İstanbul The journey that began with this project was also one of Atatürk and Ankara Esenboğa Domestic and the first examples of the “Build-Operate-Transfer” model International Terminals, as well as the İzmir Adnan in airport operations. From that point, TAV Airports Menderes Airport International Terminal in Turkey, Holding became a success story utilizing its know-how, Georgia’s Tbilisi and Batumi International Airports and experience and creativity. Thanks to its highly qualified Tunisia’s Monastir Habib Bourguiba International Airport human resources and advanced technology, TAV Airports abroad. Holding became a global brand in airport construction projects, as well as in the exciting new arena of airport In addition, the Company retains the right to operate the operations. Antalya Gazipaşa Airport, Enfidha Zine El Abidine Ben Ali International Airport in Tunisia, Alexander the Great In line with its goals of growth, advancement and International Airport in Macedonia’s capital, Skopje, as representing Turkey in the best possible manner, well as the St Paul the Apostle International Airport in TAV Airports Holding underwent restructuring in Ohrid, Macedonia. TAV Airports Holding also has optional 2006 and organized its activities as “operations” and rights to operate the cargo airport located in Shtip, “construction” under TAV Airports Holding (TAV Airports) Macedonia. and TAV Construction, respectively. TAV Airports Holding went public in February 2007 after this restructuring. TAV Airports is also active in other areas of airport operations such as ground handling, operations and TAV Airports Holding is aware that the primary factor maintenance services, duty free shops, catering services, underlying its achievements is the intense and dedicated information technology services and security services. efforts of its young and dynamic staff, comprised of the most qualified professionals in Turkey. Therefore, the TAV Airports Holding handles approximately 370 Company believes in the importance of standing out as thousand flights and 41 million passengers from 300 a human resources brand as well as an expert airport airline companies on average annually. This volume operator. Supporting the development of its employees makes it one of the leading airport operating companies through extensive in-house programs, TAV Airports in the world. The overarching goal of TAV Airports is to enjoys the advantage of its distinguished standing provide excellent services in an integrated structure at thanks to its qualified human capital. our airports, visited by thousands of people every day. Accordingly, TAV Airports, with more than 11 thousand employees on three continents, provides world-class services in order to create a secure and comfortable environment for all passengers. Decisive strides on the way from local to global Marching on with determination of becoming an Consistent with growth strategies in its target markets, international force in one of the world’s most important TAV Airports has established strategic partnerships and difficult sectors and with the passion of its founders with US-based Goldman Sachs International, Australia- and employees, TAV Airports is continuously expending based Babcock&Brown, Islamic Development Bank (IDB), its efforts to accomplish these goals. TAV Airports is Infrastructure Fund (EMP), Global Investment House moving forward with decisive steps towards becoming a KSCC and Global Opportunistic II Fund of the Global global company that utilizes its human resources in the Group, one of Kuwait’s largest investment companies, most effective and efficient manner possible, and that through share sales of its founding partners. These grows from local to global by reflecting the vast potential strategic partnerships are significant steps taken and continuously growing significance of Turkey.