Enav S.p.a. · MIL:ENAV
Enav — H1 2023 Earnings Presentation
11 slides from Enav's earnings presentation, Aug 3, 2023
Slide 1: 1H 2023 Financial Results
1H 2023 Financial Results August 3, 2023
Slide 2: 1H 2023 Group's Highlights
1H 2023 Group’s Highlights En-route traffic Terminal traffic Total Revenue Non-Reg. Revenue 4.72m SUs 1 458.9k SUs 1 €436.6m €18.0m +16.0% vs. 1H 2022 +13.7% vs. 1H 2022 +5.9% vs. 1H 2022 +42.7% vs. 1H 2022 2 EBITDA Net Financial Debt Net Result CAPEX €94.7m €415.5m -2.4% vs. 1H 2022 €18.4m €30.3m v
Slide 3: 1H 2023 Main Traffic Trends – En-route
1H 2023 Main Traffic Trends – En-route Traffic breakdown by service units Quarterly service units trend1 (‘000/%) 1H 2023: 4,717,155 1 ➔ +16.0% YoY 3,314 2,825 2,574 National 2,384 2,181 19% 1,827 1,893 1,493 1,016 Overflight 556 43% International 38% En-Route 2021 En-Route 2022 En-Route 2023 1Q 2Q
Slide 4: 1H 2023 Main Traffic Trends – Terminal
1H 2023 Main Traffic Trends – Terminal Traffic breakdown by service units Quarterly service units trend1 (‘000/%) 1H 2023: 458,859 1 ➔ +13.7% YoY 285 267 247 International 218 212 65% Zone 1 181 192 20% 156 Zone 3 45% 98 54 National Zone 2 35% 35% Terminal 2021 Terminal 2022 Terminal 2023 1Q 2Q 3Q 4
Slide 5: 1H 2023 Financial Overview
1H 2023 Financial Overview
Slide 6: Total Revenue Performance
Total Revenue Performance Total Revenue Breakdown Non-Regulated Revenue €m €m +5.9% 436.6 412.1 +42.7% 18.0 41.8 +17.4% 35.6 110.5 +12.0% 12.6 98.6 +12.2% 274.8 308.4 3.1 -24.1 n.a. 1H 2022 1H 2023 1H 2022 1H 2023 1 Balance En-route Terminal Other 1H 2023 total revenue increase 5.9% YoY (+€24.5m) dr
Slide 7: Cost Evolution
Cost Evolution Total operating costs Focus on personnel cost €m €m +8.5% 341.9 315.1 +8.2% 75.5 279.6 70.3 +7.4% 258.5 76.0 83.9 38.4 42.7 279.6 +8.2% 258.5 144.1 152.9 -13.7 -13.2 -3.7% 1H 2022 1H 2023 1H 2022 1H 2023 Personnel costs Other operating expenses Capitalized internal works Social securi
Slide 8: Main Movements below EBITDA
Main Movements below EBITDA Change 1H 2023 1H 2022 thousands euro Amount % EBITDA 94,704 97,010 (2,306) -2.4% EBITDA margin 21.7% 23.5% (1.8) p.p. D&A (net of capex contributions) (58,115) (58,010) (105) 0.2% Provisions and write-downs (3,574) (1,314) (2,260) n.a. EBIT 33,015 37,686 (4,671) -12.4% E
Slide 9: Cash Flow and Capitalization
Cash Flow and Capitalization 1H 2023 Maturity Total debt €m Current outstanding/ Non-current cash (<1 year) Financial Debt 93 517 610 Trade Payable* 76 76 Total Debt 93 593 686 Cash & Cash Equivalents 270 Net Debt 415 Net Debt/FY 2022 EBITDA 1.5 x ENAV’s liquidity and financial position remains very
Slide 10: Thanks for your attention
THANKS FOR YOUR ATTENTION Q&A SESSION enav.it
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 the financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on ENAV S.p.A.’s cu