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Enav, half-year report ok: more investments and dividends, Ebitda +30%

The ENAV interim report confirms the good health of the company led by Roberta Neri: investments and dividends are growing and profitability is flying, despite the reduction in air traffic at Fiumicino

Enav confirmed the 2017 guidance and the targets announced in March which see consolidated net revenues growing in the low single digit percentage and a Ebitda margin around 30%. The guidance relating to investments in 2017, reads the press release on the half-year, is revised to 115-120 million euros, compared to the 105-110 indicated previously, due to the acceleration of some investments. The company confirms that it can indicate a dividend for 2018, relating to the 2017 financial year, up 4% compared to that paid in 2017, in line with the approved dividend policy and communicated to the market.

“This year we are recording a more marked increase in traffic than in previous years. This is a positive indicator not only for ENAV but also for Italy's economic growth”, he commented the managing director Roberta Neri. “In addition to the good traffic trend, the results were influenced by efficiency-oriented management which allowed us to achieve excellent performance both in terms of service quality and economic-financial performance. We can say with satisfaction that the implementation of the industrial plan is giving the expected results”. As for en route traffic, in terms of service units, increased by 2,4%, the growth, despite persistent instability in the North African area and in particular the no fly-zone over Libya, is due to the positive traffic performance in the second quarter compared to 2016 (+5,3% in April, +4% in May and +5,3% in June).

In detail, international traffic, with departure or arrival from an Italian airport, recorded a 2,2% increase in service units while overflight traffic, relating to flights crossing Italian airspace, grew by 3,4%. The national traffic component, ie planes that take off and land on Italian territory, also recorded a 1,4% increase in service units. The 2,2% growth in terminal traffic (which concerns take-off and landing activities within a radius of about 20 km from the runway), specifies the note, is due to the good performance of traffic at national airports despite the reduction of service unit of 3,7% at the Rome-Fiumicino airport.

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