Excellent results for the first half of 2024 for Enav, the civil air traffic manager in Italy. The company closed on semester with total consolidated revenues equal to 461,3 million euros, an increase of 5,7% compared to the same period of the previous year. A result that reflects not only sustained growth in air traffic volume, but also effective financial management that has led to a consolidated net profit of 23 million euros, +25,3% compared to the first half of 2023.
THEConsolidated EBITDA it amounted to 99,9 million euros, +5,5% compared to the first half of 2023. Ebitda margin of 21,6%. The negative balance of financial income and expenses improved by 2,1 million euros, recording a negative balance of 4,5 million euros.
As of June 30, 2024, thenet financial debto of Enav increased to 424 million euros, up by 101,7 million compared to 31 December 2023. This increase is mainly due to the payment of a dividend of 124,4 million euros carried out in May 2024, but was partially offset by a positive cash flow resulting from higher operating collections compared to the same period of the previous year.
More than one million flights managed
In the first six months of 2024, Enav has recorded record volumes of air traffic, managing beyond a million flights in Italian airspace. En-route traffic, expressed in service units, increased by 10,9% compared to the same period of the previous year, exceeding the average growth of 7,4% in France, Germany, Great Britain and Spain.
Above all, it grows international air traffic, (arrival or departure from a foreign airport), which rises by 17,9% compared to the first half of 2023. The overflying traffic, relating to flights crossing Italy without stopping, increased by 10,2%. On the contrary, the national air traffic, i.e. flights arriving and departing on Italian territory, remained substantially stable. Finally, terminal traffic saw an increase of 11,5% in terms of service units.
Enav: 2024 outlook confirmed
Enav then the outlook for 2024 confirmed, underlining that the results of the first half of the year exceeded the most optimistic expectations. “The first half of the year saw a significant progression in traffic volumes with peaks of over 20% compared to last year,” he commented Pasqualino Monti, CEO of Enav, “an unexpected number of flights that far exceeded the most optimistic forecasts. THEREtaly is confirmed as the country highest growth rate among the main European states. From an economic and financial point of view, the Group is generating a significant volume of revenues with excellent margins".
Enav is also accelerating investments to enhance its technological infrastructure, further improving operational performance in air traffic management. In March 2024, the company introduced, almost two years ahead of community regulations, the “free route” procedure starting from 6.500 meters above sea level. This innovation predicts flight time and fuel savings of approximately 90 million pounds this year alone. “We are continuing with determination on the implementation of the technical operational plan to best support the sector with increasingly efficient and flexible services” concluded Monti.
