Page 225 - enav_27052016

ENAV S.p.A. Financial Statement

with the latest performance plan submitted (Euro 80.49), which amounts to €
10,395 thousand; ii) the balance for traffic risk and the portion not recovered on
the balance recognised in previous years and entered in the 2015 charge for a total
of € 12,087 thousand as a consequence of the lower en-route service units actually
produced compared to what was in the plan (-4.5%); iii) a meteorological balance
for € 629 thousand; iv) the bonus balance related to achieving the plan target related
to en-route capacity for € 5,774 thousand; v) a negative inflation balance for € 5,621
thousand as a result of the lower inflation effectively recorded compared to what
had been provided for in the performance plan. The terminal balance refer to: i) the
bonus balance on kpi capacity for the two terminal charge categories subject to
the performance plan for € 333 thousand of which € 138 thousand related to the
first charge category and € 195 thousand to the second category; ii) the balance
associated with the lower traffic levels generated at the year-end for the second
charge category compared to the forecast figure (-0.1%) that is determined on the
basis of total recovery of the difference generated for € 55 thousand; iii) the negative
inflation balance for both charge categories subject to the performance plan for a
total of € 957 thousand; iv) the meteorological balance for category 1 for a negative
figure of € 46 thousand; v) the balance associated with the third charge category,
not included in the performance plan, which still applies a cost recovery logic and
amounts to € 2,064 thousand.
The discounting effect of negative € 389 thousand arises from the separation of
the financial component from the balance mechanism, which was performed by
discounting the balance generated in the year, according to a predefined recovery
plan.
The change in balance for € 1,564 thousand consists of a positive component for
€ 5,505 thousand relating to the adjustment on the inflation balance recorded in
2014 following the communication received from Eurocontrol regarding the change
to the calculation formula used to determine actual inflation, compared to what
had been envisaged in the 2012–2014 performance plan. This change resulted in
the inflation balance being negative for € 2,439 thousand compared to the € 7,944
thousand recorded in 2014, and the consequent positive posting for the above
amount. The residual amount on the change in the balance also contains a negative
component for € 3,941 thousand relating to the difference between the Eurocontrol
costs declared in the performance plan and the actual figure for the 2014 period. As
stated by the European Commission, these costs are considered to be exempt from
the cost-sharing mechanism referred to in EU Regulation 391/2013 and as such are
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.

224 ENAV - Annual financial report 2015