Page 189 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Financial Statements of ENAV SpA 187

situations at an early stage and that the necessary actionsare taken
well in advance to guarantee air traffic flow and safety. The V2
version has been installed at the Rome Area Control Center (ACC)
and used as part of the activities connected with the SESAR program.
The other phases, also connected with the 4–Flight program, will
enter service in subsequent years and the carrying amount involved
is classified as assets in course of construction; ii) the refurbishment
of the new building at the Rome ACC which contains several of the
Company’s offices; iii) the functional adaptation of the SATCAS
system at ENAV’s ACCs; iv) the new technical block and tower at
Lampedusa airport; v) radar modernization at various airports; vi)
the construction of an integrated security system as part of the E-net
project; vii) the functional adaptation of the mode S management
system at ENAV’s ACCs; viii) the modernization of the TBT radio
centers for the remote sites of the Rome ACC; ix) the applications
enhancement of various systems;
l for ¤101,303 thousand, investment projects under construction such
as (excluding projects that have entered service) the enlargement of
the Academy training school in Forlì that envisages the construction
of a new integrated technological hub, the implementation of the data
link 2000 plus system, the adaptation of the airport meteorological
systems to ICAO Amendment 74, the adaption and modernization of
the airport VCS, the construction of the virtual private E-net network,
the implementation of the "eTOD New Solution Technology” program
for enhancing the eTOD airport mapping system and progress on the
Coflight project.

Reclassifications, which amount in total to ¤237,502 thousand, regard
investments of ¤233,145 thousand completed during the year, as stated
above, and classified to the line item to which they belong, investments
of ¤1,257 thousand expensed during the year as they do not qualify for
classification as intangibleassets and investments of ¤38 thousand in spare
parts and certain operating system components classified as inventories,
while the balance represents a reclassification to intangible assets under
formation.

Impairment losses totaling ¤2,269 thousand refer to certain parts of
projects and systems which can no longer be used and have been expensed.

Depreciation of ¤140,585 thousand was charged in the year (¤137,431
thousand in the year ended 31 December 2013).

Certain investments, having an original cost of ¤217,258 thousand, are
financed by capital grants awarded as part of the National Operating
Program for the Transport Sector (PON) for 2000-2006 and 2007-2013
for work carried out at airports in the south of the country and by grants
awarded by the Ministry of Infrastructure and Transport for investments in
military airports pursuant to Law no. 102/09. The capital grants financing
these investments are originally recognized as other liabilities and are
released to income in proportion to the depreciation charged on the assets
to which they relate. The portion relating to the year amounted to ¤12,303
thousand.