Slide 1: 9 Months 2018 Financial Results
9 Months 2018 Financial Results November 13, 2018
Slide 2: 9M 2018 Highlights
9M 2018 Highlights ▪ Strong traffic growth in 9M 18, with en-route traffic up 9.2% YoY, best performance amongst “big 5” peer countries, driving Revenue from Operations up 6.8% to €715.1m ▪ Net Revenue increases by 0.4% YoY to €675.6m, with Revenue from Operations and Other Operating Income almost f
Slide 3: 9M 2018 Main Traffic Trends
9M 2018 Main Traffic Trends ▪ En-route service units increase 9.2%1 YoY driven by significant growth in Q3 18 En-route (+9.8%) confirming the trend of 1H 18 (+8.7%): National Traffic breakdown Overflight 18% (by Service Unit) ▪ Ongoing exceptional performance in Overflight service units growing by 1
Slide 4: Net Revenue Performance
Net Revenue Performance Net Revenue breakdown €m +0.4% 676 673 ▪ Net Revenue growth driven by strong performance in Revenue from Operations and Other Operating Income, up respectively 6.8% and 171 +0.5% 170 30%, almost fully offset by negative Balance ▪ Significant en-route revenue growth of 9.7% Yo
Slide 5: Cost Efficiency on Track
Cost Efficiency on Track Ongoing external cost optimization Strong cost discipline with external Opex efficiency plan leading to a further reduction of €3.2m YoY: €m (2.9)% ▪ Decrease in utilities and telecommunication costs of €3.2m, 109 106 driven by contract renegotiation and adoption of new E-NE
Slide 6: 9M 2018 Financials Overview
9M 2018 Financials Overview 5
Slide 7: Net Revenue and EBITDA Development
Net Revenue and EBITDA Development Net Revenue €m 16 +0.4% ▪ Net Revenue increase of 0.8 0.4% YoY driven by solid (0.7) (0.6) Operating revenue 46.2 (50.7) 673.0 7.6 675.6 performance, mainly in en- route, and increase in Other Operating Income, offset by negative Balance ▪ €50.7m higher negative 9M
Slide 8: Consolidated P&L and Main Movements Below EBITDA
Consolidated P&L and Main Movements Below EBITDA Change Euro '000 ▪ D&A marginal decrease of €2.0m, 9M 18 9M 17 Amount % due to normalization of Capex in Revenue from operations 715,055 669,345 45,710 6.8% recent years Balance (72,496) (21,786) (50,710) 232.8% ▪ Positive provisions and write- Other
Slide 9: Cash Flow and Capitalization
Cash Flow and Capitalization ▪ Cash balance increases by €42m in 9M 18 vs YE 17, as a result of: Maturity Total debt ▪ Capex of €69.2m (cash Capex of €64.2m), more than compensated Current (<1 Non-current outstanding/cash (€m) year) by €101.7m D&A Total Debt 19 344 363 ▪ Net Profit of €98.8m, offset
Slide 10: EBITDA Margin Guidance Raised
EBITDA Margin Guidance Raised Flat to low single-digit Net ✓ Revenue growth, with decrease in regulated tariff offset by expected growth in traffic Capex of €125m ✓ EBITDA margin increasing YoY to approx. 33% 2019 DPS expected to grow by 4% over 2018 ✓ 9
Slide 11: Disclaimer
Disclaimer This presentation contains certain forward-looking statements that reflect the Company’s management current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward looking statements are based on ENAV S.p.A.’s curren