Page 217 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Financial Statements of ENAV SpA 215

years in accordance with the agreement reached on determining the
charge for 2014. More specifically, the utilization regards the final portion
of the 2009 balance and the partial portions of the balances recognized in
2011 and 2012.

23. Other operating income

Other operating income for the year amounted to ¤49,840 thousand,
representing a decrease of ¤4,022 thousand over the figure for the year
ended 31 December 2013. This item may be analyzed as follows:

Capital grants 31.12.2014 31.12.2013 Change
Revenue grants 12,339 15,255 (2,916)
European funding 31,623 30,823
Other revenues 3,038 3,083 800
and income (45)
Total 2,840 4,701
(1,861)
49,840 53,862
(4,022)

Capital grants consist of the release to income of the part of the liability for
deferred income in proportion to the depreciation charged on the assets to
which the grant refers, as discussed in note 19.

Revenue grants include ¤30 million consisting of the amount awarded to
ENAV pursuant to article 11-septies of Law no. 248/05 to offset the costs
incurred to ensure the safety of its systems and equipment and operational
safety. The remainder of this item, amounting to ¤1,623 thousand, regards
short-term projects funded as part of the TEN-T program starting in 2014
and the training funded by Fondimpresa.

European funding regards the portion attributable to ENAV for its
participation in European projects such as SESAR, which represents the
major item amounting to ¤2,901 thousand, and other smaller projects
such as we free, gamma and accepta.

Other revenues and income consist mainly of cost recoveries for personnel
seconded within the ENAV Group and at third parties, rental income for
premises at Naples airport and the penalties charged to suppliers for
delays compared to contractually agreed deadlines. The decrease of ¤1,861
thousand arises from reductions insecondments to third parties,such as to
the German provider DFS,and the penalties charged.