Page 49 - enav_27052016

Report on operations

Economic performance and financial position of the ENAV Group

Income Statement Change

Revenues from operations 31.12.2015 31.12.2014 Valori %
Balance revenues 792.059 812.638
Other operating income 17.708 (16.016) (20.579) (2,5%)
Total revenues 39.798 38.913
Personnel costs 849.565 835.535 33.724 (210,6%)
Other costs, net
Total operating costs (475.777) (466.198) 885 2,3%
EBITDA (130.816) (145.676)
Depreciation and amortization less investment grants (606.593) (611.874) 14.030 1,7%
Write-downs, impairment losses, reversals 242.972 223.661
of impairment losses and allocation (137.403) (144.025) (9.579) 2,1%
EBIT
Financial income (expense) (12.131) (6.564) 14.860 (10,2%)
Income before income taxes 93.438 73.072
Income taxes (5.602) 5.281 (0,9%)
Net income for the year 2.286 67.470
Amounts in thousands of Euros 95.724 (27.464) 19.311 8,6%
(29.641) 40.006
66.083 6.622 (4,6%)

(5.567) 84,8%
20.366 27,9%
(140,8%)
7.888 41,9%
28.254
(2.177) 7,9%
26.077 65,2%

Earnings from operational activities amounted to 792 million Euros which represents
a net 2.5% fall compared to the previous year. Such result is mainly attributable
to the Parent Company and is linked to the -1.7% reduction in en-route revenue
during the year with respect to 2014 due to the processing of fewer service units,

48 ENAV - Annual financial report 2015