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ENAV Group Consolidated Financial Statements

Notes to the Consolidated Income Statement

24. Revenues from operations and balance revenues

Revenue from operations and balances, which are also pertinent to operations,
amount to € 792,059 thousand and € 17,708 thousand respectively, and record a
decrease of € 20,579 thousand and an increase of € 33,724 thousand respectively.
The following table provides an analysis of the individual items:

Route revenues 31.12.2015 31.12.2014 Changes
Terminal revenues 566,073 589,395 (23,322)
Route and terminal exemptions 179,988 171,722
Third party market revenues 14,406 14,236 8,266
Charge stabilization supplementary contributions 11,288 12,905 170
Total revenues from operations 20,304 24,380
792,059 812,638 (1,617)
(4,076)
(20,579)

Route revenues stand at € 566,073 thousand and record a decrease of € 23,322
thousand compared to the previous year, due almost entirely to the lower service
units developed in the period, which were down -1.7% compared to the final balance
in 2014 (+2.45% 2014 over 2013) and that refer both to overflight and national air
traffic. The charge applied for 2015 at € 78.80 was essentially unchanged compared
to 2014, as shown in the first national performance plan submitted for the period
2015–2019. The impact from the charge that should have been applied starting from
1 January 2015 at € 80.49, in accordance with the new performance 2015–2019
performance plan submitted in July 2015 and approved by the European Commission,
is recognised under the item balance and amounts to € 10,395 thousand.
Terminal revenues total € 179,988 thousand and record an increase of € 8,266
thousand compared to the previous period, as a consequence of the service units
developed at individual airports identified in terms of the charge categories and the
relative charges applied. The following events are specifically noted: i) more overall
service units developed in 2015 at +0.6% compared to the actual in 2014 (+2%
2014 over 2013), with a different trends in the three charge zones, in particular,
Fiumicino Airport (zone 1) recorded more assisted traffic expressed in service units
of 1.4%. zone 2 represented by the Airports of Milan Malpensa, Milan Linate, Venice
Tessera and Bergamo Orio al Serio saw an increase of 24% due to the second charge
zone coming into effect for the Orio al Serio Airport in Bergamo, which in 2014 had
fallen under category three. Category three that includes 38 airports, in 2015 shows
a decrease of 12.6% in terms of service units developed due mainly to Bergamo’s
Airport being reclassified under the second charge category, and is mitigated by the
move of two military airports open to civil traffic to ENAV management; these refer
to Treviso that moved over on 26 June 2015 and Brindisi on 09 December 2015;

128 ENAV - Annual financial report 2015