With a drop of 14,6% in revenues and 30,4% in Ebitda compared to 2019, the Shareholders' Meeting of ENAV approved the financial statements for the 2020 financial year and has read the consolidated financial statements. The Shareholders' Meeting also decided not to distribute the profits relating to the year 2020.
The year marked by the pandemic ended with revenues amounting to 771,3 million euros, theEbitda amounted to 210,8 million euros. The Operating Result (Ebit) amounted to 71,1 million euros (-58,3% compared to 2019). The Net income is 54 million euros (-54,4% compared to 2019), while theNet financial debt is equal to 236,6 million euros.
Furthermore, the Shareholders' Meeting resolved in favor of the proposal of the Board of Directors of April 20, 2021 to do not distribute the profits relating to the year 2020. In the same meeting, the Board of Directors had confirmed, for the years from 2021 to 2024, the previous dividend policy, which provides for the distribution of a percentage of no less than 80% of the normalized cash flow, defined as consolidated net profit with the addition of depreciation (gross of plant grants) and net of normalized investments (thus excluding financial investments) expressed gross of plant grants.
Regarding the Report on the remuneration policy and fees paid – reads a note – the Shareholders' Meeting approved the first section of this Report with a binding resolution, which illustrates the policy adopted by the Company regarding the remuneration for the year 2021 of the members of the Board of Directors and of the Executives with strategic responsibilities and, without prejudice to the provisions of article 2402 of the civil code, of the members of the Board of Statutory Auditors.
It also expressed its favour, with a non-binding resolution, on the second section of this Report, containing an indication of the fees paid to the members of the Board of Directors and the Board of Statutory Auditors as well as to Managers with strategic responsibilities in the 2020 financial year or to concerning.
Finally, in consideration of the epidemiological emergency from Covid-19, the Shareholders' Meeting registered a participation of 76,29% of the share capital. Participation in the Shareholders' Meeting by those who have the right to vote took place exclusively through the designated representative by the Company pursuant to art. 135-undecies of Legislative Decree 24 February 1998, n. 58.
