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BIlancio di esercizio di ENAV S.p.A.

accounting principles was evaluated; there were no comments
to report;
c. compliance with the laws regulating the preparation of the
Report on Operations and the conformity of the same with the
information acquired during the supervisory activities were
verified. In this regard there were no comments to report;
d. to the knowledge of the Board of Statutory Auditors, when
preparing the Financial Statements the Directors did not deviate
from the legal provisions exercising the right provided by Art.
2423, paragraph 4 of the Italian Civil Code.
The Financial Statements for the year ended 31 December 2015, in
summary, presented a profit of €49.8 million and net equity of €1,120
million.
The net operating result demonstrates an increase in earnings before
interest, taxes, depreciation, and amortization (EBITDA) of 9.6%,
determined by a total increase in revenue of 1.9%, although revenue
from operative activities has fallen by 2.4% with a global reduction of
operational costs of 0.9%.
The EBIT was €74.6 million, representing an increase of 8.9%
compared to the previous financial year.
The consolidated financial statements for the year ended 31 December
2015 closed with a profit of €66 million and net equity of €1,090.5
million.

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260 ENAV - Annual financial report 2015