ENAV S.p.A. Separate Financial Statements and Consolidated Financial Statements 2021
ANNUAL FINANCIAL REPORT 2021
The Annual Financial Report has been translated into English solely for the convenience of the international reader. In the event of conflict or inconsistency between the terms used in the Italian version of the report and the English version, the Italian version shall prevail, as the Italian version constitutes the sole official document compliant with the provisions of the Commission Delegated Regulation (EU) 2019/815.
Contents
ENAV Group in figures
4
REPORT ON OPERATIONS
5
Corporate bodies
6
Corporate Governance
7
Consolidated statement of non-financial information
7
Organisational model and activities of the ENAV Group
7
ENAV stock performance and shareholders
11
Operations
14
Operating environment and performance
14
Market and air traffic developments
15
Safety and capacity indicators
21
Performance and financial position of the ENAV Group
23
Performance and financial position of ENAV S.p.A.
32
Human resources
38
Investment and NRRP
41
Environment
43
International activities
47
Commercial operations
48
Other information
48
Information on the main ENAV companies
56
Reconciliation of the shareholders' equity and net profit of ENAV S.p.A. with the corresponding
consolidated figures
58
Risk management
58
Significant events after 31 December 2021
63
Outlook for operations
64
Proposal to the ENAV S.p.A. Shareholders' Meeting
65
CONSOLIDATED FINANCIAL STATEMENTS AND NOTES TO THE FINANCIAL STATEMENTS
66
SEPARATE FINANCIAL STATEMENTS AND NOTES TO THE FINANCIAL STATEMENTS
146
ENAV Group in figures
Performance
2021
2020
Change
%
Total revenues
836,579
771,295
65,284
8.5%
EBITDA
222,376
210,785
11,591
5.5%
EBITDA margin
26.6%
27.3%
-0.7%
EBIT
98,286
71,124
27,162
38.2%
EBIT margin
11.7%
9.2%
2.5%
Profit for the year attributable to shareholders of the Parent
78,372
54,283
24,089
44.4%
Financial position
31.12.2021
31.12.2020
Net capital employed
1,646,610
1,330,595
Consolidated equity
1,163,081
1,085,467
Net financial debt
483,529
245,128
(thousands of euros)
Change
%
316,015
23.7%
77,614
7.2%
238,401
97.3%
(thousands of euros)
REPORT ON OPERATIONS
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Disclaimer
ENAV S.p.A. published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 20:22:48 UTC.
Enav SpA is an Italy-based company active in the air traffic control (ATC) industry. It operates three sectors: Air Navigation Services, Maintenance Services and Other Services. Air Navigation Services provide air traffic control, management and other air navigation services to national airspace and civil airports. Maintenance Services cover management and maintenance of equipment and systems used for national air traffic control. Other Services include business development and delivery of services to non-regulated market, with a focus on Southeast Asia; implementation of a global satellite monitoring system for air traffic control, aiming to enable the comprehensive surveillance of all routes worldwide, with a focus on polar, oceanic and other remote areas not covered by the radar-based air traffic control services; development and provision of services for low-altitude air traffic management of remotely piloted aircraft and all the other aerial vehicles, among others.
ENAV S.P.A. 
