Page 127 - enav_27052016

ENAV Group Consolidated Financial Statements

Starting in 2011 and in compliance with EU regulations, the supervisory costs of
ENAC (Ente Nazionale per l’Aviazione Civile), the Italian civil aviation authority, are
also considered when determining the en-route and terminal charges.This calculation
resulted in the portion of revenue referring to ENAC and determined on the basis of
the costs communicated and the Service Units developed, representing a payable for
ENAV that is recorded in this caption, and which at 31 December 2015 amounts to
€ 8,724 thousand (€ 4,185 thousand at 31 December 2014).
Other payables recorded a net increase of € 39,953 thousand mainly attributable
to the recognition of the payable in respect of the Ministry of the Economy and
Finance for € 38,201 thousand arising from the Parent Company ENAV’s debt for
the en-route advance payments accrued to the Italian Air Force in 2014, net of the
Parent Company’s receivable in respect of the MEF for exempt flights recorded in the
previous period. This amount is not yet due as the appropriate indication is pending
from the MEF. In addition, this item includes: i) the payables to personnel amounting
to € 42,595 thousand, which is in line with the previous period (€ 41,927 thousand at
31 December 2014) and refers to the payable for vacation earned but not yet taken
for € 14,342 thousand (€ 14,463 thousand at 31 December 2014) and the provision
for personnel costs for relevant variable items for a total of € 28,253 thousand; ii) the
payable for the supplementary pensions for € 8,860 thousand, paid at the beginning
of 2016 to the corporate pension funds such as Prevaer and Previndai and other
funds selected by employees.
The item contribution grants includes: i) the PON networks and mobility grants
relating to 2000/2006 and 2007/2013 periods referring to specific investments
made at the airports in Southern Italy for a residual amount of € 47,828 thousand
(€ 56,976 thousand at 31 December 2014). During the period, these recorded a
decrease of € 9,148 thousand of which € 8,167 thousand reversed for the period
to the Income Statement relating to the amortisation of investments to which the
contributions referred to, and € 165 thousand as a result of the net effect arising from
the de-financing of a portion of the investment project for the ACC in Brindisi and
the recognition of an additional grant for the project at Naples Capodichino Airport,
and for € 816 thousand to the portion of the projects not paid and not completed by
31 December 2015, the final date set by the Authority to recognise these projects for
funding purposes. The current portion amounts to € 7,523 thousand and refers to the
amount that will be reversed to the Income Statement in the next 12 months; ii) the
grants referring to investments for military airports, pursuant to Law 102/09, for €
66,557 thousand (€ 67,596 thousand at 31 December 2014) recorded a decrease of
€ 1,039 thousand as a result of the reversal to the Income Statement of the portion
relating to the period for the upgrading of the technological systems at Verona’s
Villafranca Airport and the works carried out at the Airports of Comiso, Roma

126 ENAV - Annual financial report 2015