Page 93 - enav_27052016

ENAV Group Consolidated Financial Statements

Related Parties

Internal related parties are entities controlled by the parent company and by
companies in the Group. External related parties are the supervisory Ministry, namely
the Ministry of Infrastructure and Transport and the controlling Ministry namely the
Ministry of the Economy and Finance (MEF), the entities under the control (including
joint control) of the MEF, and associated companies to the latter. Group Executives
with strategic responsibilities are also considered related parties.

Operating segments

For management purposes, the ENAV Group is organised into strategic units,
according to the nature of the services provided, and for financial reporting purposes
and in accordance with IFRS 8, the Group has two operating segments corresponding
with the cash-generating units (CGU) detailed in the section below. The financial
statements at 31 December 2015 are the first in which IFRS 8 is applied in order
to comply with the regulations for listed companies. The relevant information
along with comparative figures for 2014 is provided under Note 31 Information per
Operating Segment

Earnings per share

The earnings per share are calculated by dividing the net profit to the weighted
average number of shares outstanding in the period, net of the treasury shares in the
portfolio.