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ENAV Group Consolidated Financial Statements

Turnover rate + 1%                       A sensitivity analysis is shown below, referring to the impacts in respect of liabilities
Turnover rate - 1%                       for employee benefits at 31 December 2015, following the changes to the main
Inflation rate + 0,25%                   assessment parameters.
Inflation rate - 0,25%
Discount rate + 0,25%                                                                          Liabilities for defined benefit plans at 31.12.2015
Discount rate - 0,25%                                                                                                                                 57.423
                                                                                                                                                      57.887
                                                                                                                                                      58.510
                                                                                                                                                      56.792
                                                                                                                                                      56.285
                                                                                                                                                      59.052

Within 1 year                            The average duration for the financial obligation in terms of the defined benefit plans
Between 1 and 2 years                    is 11.2 years. The table below illustrates the payments envisaged in future years for
Between 2 and 3 years                    the TFR provision.
Between 3 and 4 years
Between 4 and 5 years                                                                                                                     Expected issues
                                                                                                                                                       3.559
                                                                                                                                                       3.652
                                                                                                                                                       3.491
                                                                                                                                                       2.790
                                                                                                                                                       3.318

120 ENAV - Annual financial report 2015
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