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ENAV Group Consolidated Financial Statements

x) development maintenance on various systems; xi) upgrading the TBT radio
centres for the remote ACC sites in Rome; xii) the new electrical power station for
the ACC in Padua; xiii) the purchase of servers used to develop the Logicos project
referring to building an integrated logistics platform and the hardware needed for
transferring the systems rooms at the ACC premises at Rome Ciampino;
• for € 96,008 thousand to investment projects underway, net of the projects that
have become operational, which include: i) the extension of the Academy training
school in Forlì that envisages the construction of a new integrated technology hub;
ii) the updating and modernising of the airport VCS; iii) the implementation of the
data link 2000 plus system; iv) the implementation of the 4-flight programme; v)
the implementation of the Aeronautical Data Quality (ADQ) programme for the
processing of aeronautical data; vi) the development of the eATMS build 1 system;
vii) the implementation of the private virtual E-net network; viii) the restructuring
of the tower and technical block and remote sites at the airport in Reggio Calabria;
ix) the implementation of the “e-Tod new technological solution” programme
regarding the strengthening of the system and TOD for airport mapping; x) the
continuation of the Coflight project; xi) updating of the operating data networks
(lan) for the interconnection of all servers and radar displays for the ACC in Milan,
Padua and Brindisi.

Reclassifications for a total of 110,451 thousand refer for the most part amounting to
€ 107,331 thousand, to investments finalised in the period and becoming operational
and classified under the relevant caption, for € 1,722 thousand to investments charged
to the Income Statement due to a lack of the requirements needed capitalise the
item under property, plant and equipment, for € 1,168 thousand to the reduction in
investments under construction following a dispute between the Parent Company
and supplier reaching a settlement proposal, based on the outcome of the technical
report ordered by the judge with a debt due by the Group that is lower than the
supplier’s invoice, for €173 thousand to the reclassification of inventories for spare
parts on certain components of the operating systems and for the remaining amount
to the reclassification under the intangible assets under construction caption.
Impairment losses for a total of € 545 thousand refer to certain parts of projects and
systems that are no longer usable and are charged to the Income Statement.
Depreciation for the period totalled € 134,347 thousand (€ 139,480 thousand at 31
December 2014).
It is noted that a portion of the investments, for a historic cost of € 226,628 thousand,
was financed by capital grants issued under the National Operating Programme
for the Transport Sector (PON) for 2000–2006 and 2007–2013 for the works at
airports in Southern Italy and the grants awarded by the Ministry of Infrastructure
and Transport for investments in military airports as per Law 102/09. The capital
grants financing these investments are originally recognized as other liabilities and
are released to income in proportion to the depreciation charged on the assets to
which they relate. The portion relating to the financial period amounts to € 9,312
thousand.

102 ENAV - Annual financial report 2015