Italian Enav: approved interim financial report as at March 31, 2022
Together with the new 2022-2024 business plan -ATTACHMENT
The Board of Directors of ENAV SpA, in their meeting held today under the chairmanship of Francesca Isgrò, approved the Interim Financial Report as at 31 March 2022 and the new 2022-2024 Business Plan.
The highlights are:
- En-route traffic and terminal traffic increased respectively by 168.5% and 191.1% in terms of service units, compared to the first quarter 2021;
- Revenues from operations at €147.3 million (+198.7% compared to 1Q 2021);
- Consolidated revenues at €168.1 million (-11.1% compared to 1Q 2021);
- Consolidated EBITDA at €15.2 million (-66% compared to 1Q 2021) and EBITDA margin at 9% due to a return to the traditional balance calculation methodology, balance which is affected by the sector’s typical seasonality with revenues linked to traffic volume (low in the winter season and max in the summer), while costs are relatively flat throughout the year;
- The net consolidated result amounts to - €15.4 million in line with our expectation;
- 2022-2024 Business Plan: the new Business Plan approved foreseen approximately €350 million in investments over the three-years period to be spent on innovation, digitization and training.
ENAV’s CEO Paolo Simioni stated: “Data tells us that 2022 may be the year of the sector recovery. The European authorities have provided forecasts on three possible scenarios and we are seeing that the volume of traffic on Italy and Europe is evolving through the best-case scenario. We are therefore confident that this trend will continue in the coming months as well. Although the pandemic has affected the number of flights, the ENAV Group never stopped its going ahead with all the activities required to kick-start the sector again and to renew what it is an invisible but strategic infrastructure for Italy, the sky. We are relaunching the Group to lead the future with a stronger and more innovative Company in its strategic assets: people and technology. Our airspace will no longer see only traditional aircrafts, but also remotely piloted drones, with completely different needs. ENAV must be able to meet this new traffic demand by ensuring the same levels of safety and quality that made the Company an internationally recognised model. Our strategy is based on users’ services improvement, professional growth of our people, digitization of our systems and the need to ensure long-term sustainability to guarantee a better future for the upcoming generations".
The integral version of the report is attached to this AVIONEWS.
AVIONEWS - World Aeronautical Press Agency