Slide 1: First Half 2017 Financial Results
First Half 2017 Financial Results August 9, 2017
Slide 2: 1H 2017 Highlights
1H 2017 Highlights Solid growth in revenue from operations, driven by strong trends in traffic, coupled with cost streamlining, lead to 180 bps increase in marginality Net Revenue increases by 0.3% YoY to €410.0m En-route revenue up 3.9% to €275.8m Terminal revenue increases by 11.5% to €102
Slide 3: 1H 2017 Main Traffic Trends
1H 2017 Main Traffic Trends En-route service units increase 2.4%1 YoY driven by significant growth in Q2 17 En-route (+4.9%) more than compensating weak Q1: National Overflight Traffic breakdown 20% (by Service Unit) 37% Positive performance in International traffic, with service units up 2.2% Y
Slide 4: Net Sales Performance
Net Sales Performance Net sales breakdown €m 0.3% Net sales growth driven by strong performance in Revenue from 409 410 Operations, up 5.7%, offset by lower balance o/w Balance: 32 (38.1)% En-route revenue growth of 3.9% YoY driven by international traffic and 52 o/w Balance: +€21m +€2m overflig
Slide 5: Solid execution on efficiency plan
Solid execution on efficiency plan Delivering strong external cost efficiency €m External opex efficiency plan delivering strong results with reduction of €6.1m 80 (7.6)% YoY (-7.6%, -4.3% excl. IPO costs in 1H 16): IPO Costs 2,8 74 Full benefit of renegotiation of insurance contract, signed in
Slide 6: 1H 2017 Financials Overview
6 1H 2017 Financials Overview 5
Slide 7: Net Revenue and EBITDA Development
Net Revenue and EBITDA Development Net Sales €m Net sales increase of 0.3% 16 0.3% YoY driven by solid Operating -- revenue performance, both in 11 409 (20) 410 en-route and terminal, offset 10 0.1 by lower Balance Balance revenue decreases substantially YoY by €20m mainly due to TZ3 Balance in
Slide 8: Consolidated P&L and Main Movements Below EBITDA
Consolidated P&L and Main Movements Below EBITDA Euro '000 Change 1H 17 1H 16 Amount % Revenue from operations 391.534 370.496 21.038 5,7% Increase in Provisions and write- downs in 1H 17 YoY mainly due Balance 1.608 21.457 (19.849) (92,5)% to €3.5m euro impairment loss Other operating income 16.8
Slide 9: Cash Flow and Capitalization
Cash Flow and Capitalization Cash balance decreases by €157m mainly as a result of: Capex and third tranche of Aireon Maturity Total debt Debt repayments of €16m Current (<1 Non-current outstanding/cash (€m) year) Dividends paid of €95.3m Total Debt 34 284 318 Cash & Equivalents 73 Net Wor
Slide 10: Key Take Aways
Key Take Aways Solid top-line performance driven strong traffic in Q2 fully offsetting weak traffic trends in Q1 and specific airline issues Continuing to deliver strong execution on cost efficiency measures, driving margin expansion and cash flow Non-regulated business continues to perform we
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