Turkey · Delayed Price · Currency is TRY Türk Hava Yollari Anonim Ortakligi Earnings Call Transcripts
Fiscal Year 2025
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Delivered strong growth and profitability in 2025, with revenues up 6% to $24B and net income at $2.9B. Outlook for 2026 remains positive, though geopolitical risks and fuel costs present uncertainties.
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Q3 saw record passenger numbers and strong growth in Asia and Africa, offset by softer demand in North America and Europe. Revenue rose 5% year-over-year, but profitability declined due to higher costs and cargo weakness. 2025 guidance maintains margin targets but lowers revenue growth expectations.
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Q2 saw 6% revenue growth to $6B, with strong passenger demand offsetting cargo weakness. Net income fell 25% year-over-year due to currency and tax effects, but EBITDA margin remained robust at 26%. Guidance for 2025 is maintained, with capacity and revenue growth expected.
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First quarter revenue hit a record $4.9B, but net income was -$44M due to inflation and currency headwinds. Passenger and cargo volumes remained resilient, with strong regional performance and ongoing cost controls supporting a positive outlook for 2025.
Fiscal Year 2024
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Full-year revenue rose 8% to $22.7B, with net profit up 17% to $3.4B, driven by strong cargo and resilient passenger operations. 2025 guidance targets 6%-8% capacity growth, flat yields, and a 22%-24% EBITDA margin, with continued focus on cost control and sustainability.
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Q3 saw record revenues and strong cargo growth, offset by higher personnel costs and Middle East disruptions. Guidance for 2024 and 2025 remains positive, with continued investment in fleet, sustainability, and digital initiatives.
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Q2 2024 saw 10% revenue growth, a 49% net income increase, and strong cargo performance, despite yield pressure and operational challenges from engine issues. Capacity and fleet expansion continue, with robust liquidity and a positive outlook for the remainder of the year.