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ENAV Group Consolidated Financial Statements

The inventories allowance increased by € 1,344 thousand due to spare parts
becoming obsolete because they refer to systems that are no longer being used, and
decreased by € 717 thousand following the disposal of spare parts that had already
been written down in previous years.

15. Other current assets

Other current assets amount to € 16,653 thousand and comprise the following:

Due from public bodies for capital grants 31.12.2015 31.12.2014 Change
Due from personnel 7.401 10.434 (3.033)
Due from public bodies for financed projects 3.550 3.502
Guarantee deposits 4.155 4.754 48
Sundry receivables 1.036 766 (599)
3.596 2.895
Bad debts allowance 22.351 270
Total 19.738 (3.189) 701
(3.085) 19.162 (2.613)
16.653 104
(2.509)

Due from public bodies for capital grants refers entirely to the National Network
and Mobility Operating Programme (NOP) grants for 2007/2013 that have been
approved, but not yet received at 31 December 2015. The net decrease for €
3,033 thousand compared to the balance at 31 December 2014 refers to a series
of transactions that took place during the year, and specifically: i) two resolutions
from the 2007/2013 Networks and Mobility NOP Management Authority dated
30 June 2015 and 31 December 2015 respectively, which in terms of the first
resolution recognised a higher grant contribution for the project related to the
Naples Capodichino Airport for € 2,096 thousand, and the second resolution, de-
financed part of the project referring to the ACC in Brindisi for € 2,262 thousand;
ii) € 2,051 thousand was received in relation to past projects; iii) a reduction in the
amounts due for € 816 thousand was recorded relating to projects that while having
initially received funding, could not be recognised because they were not paid and
completed by the final date (31 December 2015) set by the Management Authority.
The receivable for € 3,773 thousand relates to two projects financed by the Action
and Cohesion Plan (ACP), where the relevant reporting period ends in March 2017.

ENAV - Annual financial report 2015 113