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ENAV Group Consolidated Financial Statements

Notes to the consolidated statement of financial position

7. Property, plant and equipment

The following table sets out changes to property, plant and equipment for the year
ended 31 December 2015:

Industrial and Assets in

Land and Plant and commercial course of
buildings machinery
1.611.486 equipment Other assets construction Total
432.104 (1.102.872) 2.881.764
Cost (152.502) 286.952 331.060 220.162 (1.755.851)
Accumulated depreciation 279.602 508.614 1.125.913
Net book value at 31.12.2014 72.175 (218.959) (281.518) 0
22.765 (1.615) 203.339
Increases (23) 1.551 67.993 49.542 220.162 (5.544)
Disposals - cost 23 (58)
Disposals - accumulated 0 8.087 4.304 96.008 5.471
depreciation (115) (110.451)
Reclassifications 0 (90.153) (640) (3.266) 0
Impairment losses (18.100) (545)
Depreciation charge (16.752) 1.681.988 633 3.264 0 (134.347)
Total changes 5.898 (1.191.474) (42.077)
490.514 0 0 (110.278) 2.968.563
Cost 454.731 (1.884.727)
Accumulated depreciation (169.231) 0 0 (545) 1.083.836
Net book value at 31.12.2015 285.500
(14.611) (12.831) 0

(6.531) (8.529) (14.815)

294.399 332.098 205.347

(232.937) (291.085) 0

61.462 41.013 205.347

Property, plant and equipment recorded a decrease in the period for a total of 42,077
thousand attributable mainly to the slowdown in property, plant and equipment
under construction, following the restraint of the Parent Company’s investment
plans and the depreciations for the period.
In particular, the increases for € 203,339 thousand refer to:
• for € 107,331 thousand to investments completed and becoming operational

during the period, which included: i) the restructuring of the Control Tower at
Rome Fiumicino Airport; ii) the erection of the tower and technical block at the
Rome Ciampino and Verona Airports; iii) the updating of ground – ground voice
communication and air-ground to voip (VCS) for the Area Control Centre in
Milan; iv) updating and doubling of the electrical power plant at the Area Control
Center in Rome; v) updating of airport meteorological systems according to the
provisions of ICAO amendment 74 for the airports at Milan Malpensa, Turin
Caselle and Venice Tessera; vi) upgrading radar for the Naples Capodichino Airport;
vii) the implementation of civil works and systems at various sites necessary
for the installation of the E-NET network at such sites; viii) the introduction
and implementation at different sites of an integrated security system closely
associated with the E-NET network; ix) radio navigation systems at various airports;

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