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ENAV Group Consolidated Financial Statements

reimbursed to or requested from carriers.
The utilisation of the balance for € 8,180 thousand refers to the release to income of
the portion of the en-route inflation balance recorded in 2013.

25. Other operating income

Other operating income amounts to € 49,109 thousand and records a decrease of €
2,143 thousand compared to 31 December 2014. This item is analysed as follows:

Capital grants 31.12.2015 31.12.2014 Variazioni
Revenue grants 9,312 12,339 (3,027)
European funding 31,623 (963)
Other revenues and income 30,660 4,622 1,319
Total 5,941 2,668 528
3,196 51,252 (2,143)

49,109

Capital grants relate to the Income Statement recognition for a part of the deferred
income corresponding to the depreciation made on the assets to which the grant
refers to, as detailed under Note No. 22.
Revenue grants refer for € 30 million to the amount awarded to the parent company
pursuant to Art. 11 septies of Law 248/05, to offset the costs incurred to guarantee
the safety of its systems and equipment and operational safety. The remaining
portion for € 660 thousand refers to training funded by Fondimpresa.
European funding relates to the portion relevant to the Group for having participated
in various European projects, of which the SESAR Joint Undertaking represents
the predominant portion (€ 3,665 thousand). The increase during the period is
attributable to new projects recognised, including free solution, medale and racoon
sesar deployment manager.
The other revenues and income largely incorporate the rentals income for the
premises at Naples Airport, the penalties applied to suppliers for delays in adhering
to set contract deadlines and the reimbursement of an insurance claim. Specifically,
the increase in this item is mainly linked to the amount received from insurance
companies for damages caused by third parties against the parent company in the
perimeter of the airports during previous financial periods, for an amount of € 1,566
thousand recovered during the year.
The composition of the revenue caption for the financial periods ended 31 December
2015 and 2014 is shown below, subdivided by geographic area:

Revenues 31.12.2015 % of revenues 31.12.2014 % of revenues
Italy 848,003 98.7% 837,004 98.7%
UE 6,510 0.8% 5,642 0.7%
Extra UE 4,363 0.5% 5,228 0.6%
Total revenues 858,876 847,874

ENAV - Annual financial report 2015 131