Page 128 - ENAV eng_Relazione_Finanziaria_Annuale_2014

126 ENAV – 2014 Financial Statements

The increase in other payables over the year mainly relates to the
reclassification of an amount of ¤1,857 thousand to this itemfrom the non-
current portion of deferred income,which will be refunded to the European
Commission in 2015 following the failure to obtain recognition of part of
the pre-financing for the parent company’s ADS-B project.

Grants consist of the following: i) the 2000/2006 and 2007/2013
Networks and Mobility National Operating Program (NOP) grants
regarding specific investments made in the south of Italy amounting to
¤56,976 thousand (¤79,454 thousandat 31 December 2013). Of the
decrease of ¤22,478 thousand in this balance over the year, ¤11,350
thousand regards the release to income of the portion relating to 2014,
referring to the depreciation of the investments to which the grants
refer, and ¤11,128 thousand regards the de-financing of the “Brindisi Area
Control Center – 4 Flight” project as per the resolution of the supervisory
Authority. The current portion amounts to ¤8,586 thousand and consists
of the amount that will be released to income over the next 12 months; ii)
the capital grants awarded for investments at military airports pursuant to
Law no. 102/09, amounting to ¤67,596 thousand (¤68,550 thousand at
31 December 2013), a balance which decreased by ¤954 thousand over
the year following the release to income of the portion relating to 2014
for the modernization of the technological systems of Verona Villafranca
airport and the work performed at Comiso and Ciampino airports. The
current portion amounts to ¤993 thousand; iii) other investment grants
amounting to ¤7,337 thousand (¤15,717 thousand at 31 December 2013)
mainly relating to European funding obtained as part of the TEN-T program.
More specifically, the net decrease over the year of ¤8,380 thousand refers
to gross decreases totaling ¤11,667 thousand, of which ¤8,920 thousand
regards the pre-financing portion received at the end of 2013 relating to
the other participants in the “ANSPs Interim Deployment Programme
Implementation”, which is funded as part of the TEN-T program for new
technological and procedural implementations in air transport and in which
the parent company has a coordination role, to whom the amount was
transferred in January 2014. The second instalment of the pre-financing
for the same project was received in June; the portion relating to the Group
which is recognized in this item and which represents the increase over
the year amounts to ¤2,540 thousand. Additional funding as part of the
TEN-T program was obtained in 2014 for the project of common interest
for the implementation of advanced capacities of flight data processing
(FDP) in Europe with the receipt of the first instalment of the pre-financing
of ¤747 thousand. An amount of ¤828 thousand was released to income,
representing the portion relating to the year, while an amount of ¤106
thousand is classified in other current liabilities.