Slide 1: First Half 2016 Results
First Half 2016 Results 27th September 2016
Slide 2: Key Financial Highlights H1 2016
Key Financial Highlights H1 2016 Net Revenue up 4.3% YoY to €409 million driven by: En-route Revenue up 2.1% YoY to €266 million Terminal Revenue up 9.1% YoY to €92 million Increase in Balance Revenue to €21 million Non-regulated revenue, up 45.8% YoY H1 2016 EBITDA increased by 14.0% ex
Slide 3: Key Operational Highlights H1 2016
Key Operational Highlights H1 2016 En-route service units grow 0.7% YoY mainly driven by: En-route Strong performance in International flights, up 2.6% YoY National Overflight Traffic breakdown 21% Solid trend in National flights, growing 0.8% YoY (by Service Unit) 36% Partially offset by we
Slide 4: Net Sales Performance
Net Sales Performance Net sales(1) breakdown (€m) Comments Net sales increase driven by solid performance in operating activities and increase in balance revenues as well as growth in non-regulated activities o/w Balance: +9 o/w Balance: +21 En route revenue grows 2.1% driven by an increase in traff
Slide 5: Developing Non-regulated Business Opportunity
Developing Non-regulated Business Opportunity Non-regulated services Supporting services, are also offered to other Air Navigation Aeronautical Airspace Design Flight Inspection Information Service Providers (ANSPs) on a commercial basis, forming an independent source of revenues and not being reg
Slide 6: Technologies Providing Further Growth Potential
Technologies Providing Further Growth Potential Investments in new technologies put ENAV at the forefront of innovation in ATC Satellite Technology Company of the Iridium Group, ENAV owns a 12.5% stake(1) held through ENAV North Atlantic Set to develop the first global air traffic satellite surv
Slide 7: Enhancing Cash Flow Generation through Cost Efficiency
Enhancing Cash Flow Generation through Cost Efficiency ENAV on track Marginal increase in Personnel Costs, up 1.6% YoY, mainly as a result of: €m 1.6% Increase in headcount vs H1 2015 mostly related to low traffic volume airports project which foresees new operational staff training on the job Perso
Slide 8: Financial Results Overview
Financial Results Overview 8
Slide 9: Net Revenue and EBITDA Bridge
Net Revenue and EBITDA Bridge Net Sales €m Net sales growth of 4.3% 16 +4.3% YoY mainly driven by traffic increases in terminal and 12 en-route 2 409 8 6 392 (10) Balance revenue increases by €12m YoY Tariff stabilization fund recorded in H1 15 no longer available in 2016 H1 15 En-route Terminal Bal
Slide 10: ENAV P&L
ENAV P&L €m H1 2016 H1 2015 Difference Difference (%) Provisions and write-downs in H1 2015 mainly related to bad Revenue from operations 370.496 365.608 4.888 2,3% debt for credits outstanding for Balance revenue 21.457 9.172 12.285 n.m. services towards an airport in previous years Other operating
Slide 11: Capitalisation
Capitalisation Capital Structure H1 2016 (€m) Solid capital structure and financial metrics providing strong financial and operating flexibility Net debt of €236m net debt as of June 30, 2016 mainly funded by the bond issued in August 2015, due in 2022, as well as European Investments Bank and Unicr
Slide 12: Financial Debt Overview
Financial Debt Overview Maturity Cash balance as of June 30, 2016 Total debt outstanding (€m) Current (<1 year) Non-current mainly reflects: Total Debt 40 315 355 • Payment of 2015 dividend Cash & Equivalents (118) • Debt amortization Net Debt 236 • Tax payments Net Debt / LTM H1 16 EBITDA 0.9x • Pa
Slide 13: Delivering on Our Equity Story
Delivering on Our Equity Story ENAV Equity Story Strategic Pillars to Create Value Target Leading European aviation infrastructure player providing 1 1 mission critical services P without time limit Enhance cash flow generation through Attractive Return cost reduction and to Shareholders Capex norma
Slide 14: Q&A
@Wenav => Q&A
Slide 15: Appendix
@Wenav “a Appendix
Slide 16: ENAV at a Glance
ENAV at a Glance Leading Air Traffic Control Service Provider Proprietary Infrastructure Covers the Entire Italian Space Operating Data Sole provider of air traffic control and navigation services in Italy Controlled air 751,742 Km2 space Critical Italian aviation asset entrusted by national law
Slide 17: Summary Overview of Services Provided
Summary Overview of Services Provided Business Mix Illustrative Representation % of reg. Services Provided revenues “En-route” services: handling of air traffic crossing Italian airspace offered from 4 Area ~74% Terminal En-route Terminal Control Centres, cruise Services Services Services Regulate
Slide 18: Disclaimer
Disclaimer This presentation may contain 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 cur