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Report on operations

In this regard, attention is drawn to the way in which the price cap that is inherent
in the Community Performance Scheme allows for the generation of positive effects
on the result of operations whenever the Company can achieve greater efficiency
in its costs with respect to the amount previously entered in the Performance Plan,
compatibly with the high levels of skill and security of the service provided.
In this respect, also by virtue of the experience acquired in the first reference period,
the Company has adopted a series of measures aimed at significantly limiting the
above mentioned effects.
In addition to this positive result there is also the bonus on operational performance
as provided by the current community regulations for the excellent operational
management that ENAV, continuing from the past, has confirmed during the year
that has just ended. In particular, regarding en-route services, it should be noted
that against a capacity target of 0.09 minutes/flight, the result was 0.0095 minutes/
flight. Following the achievement of such performance, it was possible to book a 5.5
million Euro bonus in the Income Statement. Considering also that the Performance
Plan included a terminal services performance target linked to capacity for systems
in the first and second charge bands, the overall 2015 bonus linked to the efficiency
of en-route and terminal services provided by ENAV using its own systems, was for
an overall amount of approximately 6 million Euros.
In this context, the positive performance achieved by the Company in 2015 has
made it possible to mitigate the effect of a reduction in traffic during the year of
-4.5%, with respect to the value entered in the Performance Plan in terms of en-
route service units, that have been recovered only in part from the market by means
of price regulation, and achieving a result of 49.8 million Euros, one of the best
results achieved by the Company in these last few years.

22 ENAV - Annual financial report 2015