Slide 1: 9M 2021 Financial Results
9M 2021 Financial Results N ovember 1 1 , 2 0 2 1
Slide 2: 9M 2021 Highlights
9M 2021 Highlights • Covid-19 pandemic reducing its impact on the aviation sector: en-route and terminal traffic in 9M 2021 increased 24.1% YoY and 14.5% YoY respectively • 2021 quarterly traffic trend showing signs of improvement, with 3Q 2021 en-route and terminal traffic respectively at 71.2% and
Slide 3: 9M 2021 Main Traffic Trends
9M 2021 Main Traffic Trends En-route (traffic breakdown by service units) Covid-19 pandemic reducing its negative impact on both en-route and terminal traffic, in nine months 2021 Overflight National 44% 25% • En-route service units up 24.1%1 YoY as a combined positive result in all segments: 9M 202
Slide 4: Regulatory update
Regulatory update
Slide 5: RP3 Regulation Update
RP3 Regulation Update • The RP3 regulatory framework was approved in February 2019 and cost efficiency targets were set in May 2019 with performance plans submitted by year end 2019 • Approval by European Commission of country-specific performance plans for RP3 (2020-2024), originally What scheduled
Slide 6: 9M 2021 Financials Overview
C'enav group 9M 2021 Financials Overview
Slide 7: Net Revenue Performance
Net Revenue Performance Net Revenue Breakdown • 9M 2021 net revenue stable (-0.3% YoY or -€1.5m) with €m 589.1 (0.3%) 587.6 revenue from operations and non-regulated business showing solid growth, while balance declined YoY 65 92 40.7% 187 • Increase in both en-route and terminal revenue, up YoY by
Slide 8: Cost Evolution
Cost Evolution Personnel Cost €m • Personnel Cost increase of 5.8% YoY (+€19.9m), coming from unfair 5.8% comparison with 9M 2020, when holiday balance was brought to zero, and a return to almost normal operating activities during the summer of 342.9 362.8 2021, both pushing up variable pay. Fixed p
Slide 9: Net Revenue and EBITDA Development
Net Revenue and EBITDA Development Net Revenue • Net Revenue remained stable (-0.3% €m 16 (0.3%) YoY) as a combination of: • Increase of €34.5m in en-route 589.1 34.5 26.6 0.6 4.0 587.6 1.7 revenue and €26.6m in terminal revenue driven by a better (69.0) summer vs. previous year • Slightly increase
Slide 10: Consolidated P&L and Main Movements Below EBITDA
Consolidated P&L and Main Movements Below EBITDA Change 9M 2021 9M 2020 thousands euro Amount % Revenue from operations 341,796 276,031 65,765 23.8% • D&A decreased by 5.7% YoY as a Balance 217,705 286,666 (68,961) -24.1% Other operating income 28,065 26,367 1,698 6.4% consequence of previous years
Slide 11: Cash Flow and Capitalization
Cash Flow and Capitalization Maturity Total debt Current outstanding/ Non-current* cash (€m) (<1 year) Total Debt 249 444 693 Cash & Equivalents 268 Net Debt (Net Cash) 425 Net Debt / 2020 EBITDA 2.0 x • ENAV’s liquidity and financial position remains solid • Cash balance in 9M 2021 decreased by €48
Slide 12: Thank You
CV'enav group INNOVATING THE SKY cv sustainabilityenav We look up to cleaner and safe skies. THANK YOU ir@enav.it
Slide 13: Disclaimer
Disclaimer This presentation contains certain forward-looking statements that reflect the Company’s management current views with respect to future events and the financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on ENAV S.p.A.’s cu