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Enav, balance sheet and dividend ok. 53 million to the Treasury

The shareholders' meeting of the company controlling flights and airports in Italy approves the 2017 accounts, the directors' remuneration and the detachment of the 0,1864 euro dividend. 4% growth in remuneration, Neri: "Guidance confirmed, solid capital structure"

Enav, balance sheet and dividend ok. 53 million to the Treasury

Green light from the Enav shareholders' meeting for the 2017 financial statements which closed with a consolidated net profit of 101,5 million euros. The shareholders, including the Treasury which owns a 53,28% stake in the capital, approved the distribution of a dividend of €0,1864 per share (+6% compared to 2016). In total, the Treasury will collect a sum of approximately 53 million euros: the historically highest figure collected by the Minister of the Economy as a shareholder in Enav.

During the meeting, the managing director Roberta Neri confirmed the guidance relating to the distribution of the dividend in 2018, which envisages a 4% increase compared to 2017, "I think it must be confirmed" she replied to a shareholder. “We have a very solid capital structure” stated the CEO, specifying that the distribution of the level of dividends each year refers to cash flow and not to net profit. “This mechanism, while ensuring to draw from the cash generated during the year, can lead to also draw on the retained earnings reserve of previous years". Neri then added that such reservations “are quite significant” (about 436 million euros).

The budget Enav it closed with a consolidated net profit of 101,5 million euros, an improvement of 32,9% compared to 2016, and an Ebitda up by 11,3% to 283,6 million euros. The approval was voted by 99,996% of voters against no votes against and a negligible percentage of abstentions.

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