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ENAV S.p.A. Financial Statement

Information on items in the statement of financial position

5. Property, plant and equipment

The following table sets out property, plant and equipment at the beginning and end
of the financial year and changes in 2015.

Land and Industrial and Other assets Assets in Total
buildings Plant and commercial course of 2.896.716
machinery equipment construction (1.752.661)
432.880 1.144.055
Cost (151.291) 1.626.102 287.764 325.574 224.396
Accumulated depreciation 281.589 209.827
Net book value at 31.12.2014 (1.105.428) (218.802) (277.140) 0 (5.544)
23.889
Increases (23) 520.674 68.962 48.434 224.396 5.471
Disposals - cost 23 (114.404)
Disposals - accumulated 73.943 9.400 4.052 98.543
depreciation (115) (545)
Reclassifications 0 (1.615) (640) (3.266) 0 (135.835)
Impairment losses (41.030)
Depreciation charge (16.882) 1.551 633 3.264 0 2.986.050
Total changes 6.892 (1.883.025)
(58) 0 0 (114.231) 1.103.025
Cost 456.631
Accumulated depreciation (168.150) 0 0 0 (545)
Net book value at 31.12.2015 288.481
(91.824) (14.717) (12.412) 0

(18.003) (5.324) (8.362) (16.233)

1.698.372 296.524 326.360 208.163

(1.195.701) (232.886) (286.288) 0

502.671 63.638 40.072 208.163

Property, plant and equipment recorded a decrease in the period for a total of €
41,030 thousand attributable mainly to the slowdown in property, plant and
equipment under construction, following the restraint of the Company’s investment
plans and the depreciations for the period.
In particular, the increases for € 209,827 thousand refer to:
• for € 111,284 thousand to investments completed and becoming operational

during the period, which included: i) the restructuring of the Control Tower at
Rome Fiumicino Airport; ii) the erection of the tower and technical block at the
Rome Ciampino and Verona Airports; iii) the updating of ground – ground voice
communication and air-ground to voip (VCS) for the Area Control Centre in
Milan; iv) updating and doubling of the electricity power plant at the Area Control
Enter in Rome; v) updating of airport meteorological systems according to the
provisions of amendment 74 ICAO for the airports at Milan Malpensa, Turin
Caselle and Venice Tessera; vi) upgrading radar for the Naples Capodichino Airport;
vii) the implementation of civil works and systems at various sites necessary
for the installation of the E-NET network at various sites; viii) the introduction
and implementation at different sites of an integrated security system closely
associated with the E-NET network; ix) radio navigation systems at various

ENAV - Annual financial report 2015 195