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ENAV Group Consolidated Financial Statements

1 of Law 659/1981, in addition to a criminal offence under Art. 8 of Law 74/2000,
with the exception of the CEO who is being investigated for a criminal offence under
Art. 323 of the Criminal Code - with specific reference to subcontracting referring
to the upgrading of the Palermo Airport. The Company has made appointments to
conduct preliminary assessments regarding the initiatives to be taken to protect its
rights, which are still ongoing.
Subsequent to the plea-bargaining judgements in the criminal proceedings for the
criminal offences emerging in the investigations undertaken by the Public Prosecutor
in Rome during 2010/2011, against former board members, former management
of ex suppliers and executives and consultants of third party companies, the Parent
Company has undertaken out-of-court initiatives that are still in progress, which aim
to restore damages and damage caused to ENAV’s corporate image.
Judgement has been handed down in the criminal proceedings brought following the
complaint brought by the Parent Company regarding the unlawful removal of ENAV
goods and materials held at a third party’s warehouse.
The Parent Company brought civil proceedings in this case against the de facto
director of the warehousing company for a criminal offence pursuant to Art. 646
of the Criminal Code, and in its judgement dated 16 February 2015, the Court
declared the accused guilty of the crime, inter alia, under Art. 646 and ordered him
to the sentence of 6 years and 6 months imprisonment and a fine of E 3,000, to run
concurrently with other charges.
The Court further awarded an immediately enforceable provisional compensation of
€ 1 million in favour of the Parent Company, referring the settlement of the higher
damages incurred by ENAV to another Court. In respect of one of the charges,
judgement was issued not to proceed due to the intervening withdrawal of the
complaint, and relevant acceptance thereof. Finally, regarding to the remaining
charges, the accused was acquitted based on the formula that “the fact does not
exist”.
With regard to the terminated contract entered into by the Parent Company and Selex
ES (currently Finmeccanica) on 26 June 2009 for upgrading of the airport system at
Palermo Airport, ENAV continues to hold back an amount of € 3.8 million in terms
and to all effects of the agreement signed on 24 December 2012, as an appropriate
withholding pending the additional investigations required in this regard. Subsequent
to further assessments conducted by the Parent Company, which made it possible
to better define the degree of deviation from the contract tolerances, discussions are
currently underway with the supplier to close the matter in a precautionary manner
for ENAV.
The arbitration continues that was brought forth by Selex ES against the subsidiary
Techno Sky in order to resolve the dispute relating to the charges and credits
regarding the terminated contract between the parties, referring to the supply
of the meteorological systems and upgrading of the airport system at Palermo’s
Falcone Borsellino Airport. Following several postponements, the arbitration award is
expected by the deadline of 26 April 2016.

ENAV - Annual financial report 2015 153