Page 54 - ENAV eng_Relazione_Finanziaria_Annuale_2014

52 ENAV – 2014 Financial Statements

Taxes for the year amounted to ¤24.7 million, 35.5% lower than in 2013,
mainly due to lower corporate income taxes (IRES) in 2014.

Profit for the year was a positive ¤38.8 million, lower than in the previous
year due the dynamics described above.

Reclassified Balance Sheet

Property, plant and equipment 31.12.2014 31.12.2013 Changes
Intangible assets
Investments in other companies 1,144,055 1,189,981 (45,926)
Other non-current assets 57,965 64,896 (6,931)
and liabilities 114,826 28,083
Liability for employee benefits 142,909
Net fixed capital (56,450) 65,427
Inventories 8,977
Trade receivables (35,239) (4,963)
Trade payables (40,202) 1,278,014 35,690
Provision for risks and charges 1,313,704
Other current assets and liabilities 61,614 31
Net working capital 61,645 278,093 (53,562)
Net invested capital 224,531 (128,993)
Funding (114,552) (8,791) 14,441
Shareholders' equity (8,375) (104,985) 416
Net financial position (79,722)
Total funding 83,527 96,938 25,263
1,397,231 1,374,952 (13,411)
22,279
1,283,674 1,294,812
113,557 80,140 (11,138)
33,417
1,397,231 1,374,952 22,279

Amounts in thousands of euros