Slide 1: 9M 2019 Financial Results
9M 2019 Financial Results November 13, 2019
Slide 2: 9M 2019 Highlights
9M 2019 Highlights ▪ Strong traffic growth continues in 9M 19, with en-route traffic up 7.6% YoY, best performance amongst “big 5” peer countries, driving Revenue from Operations up 3.2% to €737.8m ▪ Net Revenue increases by 2.3% YoY to €691.3m: ▪ Solid growth in en-route revenue, up 3.1% to €541.1m
Slide 3: 9M 2019 Main Traffic Trends
9M 2019 Main Traffic Trends ▪ En-route service units increase 7.6%1 YoY driven by significant growth in Q3 19 En-route (+7.8%) confirming the trend of 1H 19 (+7.4%): National Traffic breakdown Overflight 17% (by Service Unit) ▪ Ongoing strong performance in Overflight service units growing by 10.4%
Slide 4: Net Revenue Performance
Net Revenue Performance Net Revenue breakdown €m +2.3% 691 ▪ Net Revenue growth of 2.3% driven by strong performance in 676 Revenue from Operations, up 3.2% 171 179 +4.8% ▪ Robust en-route revenue growth of 3.1% YoY driven by double- digit Overflight traffic growth as well as by increase in Internat
Slide 5: Costs Overview
Costs Overview Ongoing external cost optimization Ongoing external cost discipline leading to a further reduction of €4.2m €m YoY despite inclusion of costs related to IDS AirNav: (4.0)% 105 101 ▪ Reduction of telecommunication costs through full IP network and fee renegotiation with supplier ▪ Lowe
Slide 6: 9M 2019 Financials Overview
9M 2019 Financials Overview 5
Slide 7: Net Revenue and EBITDA Development
Net Revenue and EBITDA Development Net Revenue €m 16 +2.3% ▪ Net Revenue increase of 2.3% YoY driven by solid 8.1 691.3 (0.7) (1.0) Operating revenue 675.6 16.3 (3.4) (3.6) performance in both the en- route and terminal segments ▪ €3.4m higher negative Balance vs 9M 18 mainly due to negative balance
Slide 8: Consolidated P&L and Main Movements Below EBITDA
Consolidated P&L and Main Movements Below EBITDA Change 9M 2019 9M 2018 € thousands Amount % ▪ D&A marginal increase of €0.2m, mainly due to IFRS 16 Revenue from operations 737,818 715,055 22,763 3.2% adjustments Balance (75,915) (72,496) (3,419) 4.7% Other operating income 29,428 33,061 (3,633) (11
Slide 9: Cash Flow and Financial Position
Cash Flow and Financial Position ▪ Cash balance increases by €59m in 9M 19 vs YE 18, as a result of: Total debt outstanding/cash (€m) ▪ Capex of €53.9m (cash Capex of €48m) and acquisition of IDS Current (<1 year) Non-current AirNav for €37.4m, more than compensated by €101.5m D&A Total Debt 17 338
Slide 10: Guidance 2019 FY Confirmed
Guidance 2019 FY Confirmed Revenues EBITDA CapEx DPS Flat to low single-digit EBITDA margin 32% Capex in the range 2020 DPS expected to Net Revenue growth, €115-120m grow by 4% over 2019 with decrease in regulated tariff offset by expected growth in traffic 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