Enav S.p.a. · MIL:ENAV
Enav — H1 2021 Earnings Presentation
14 slides from Enav's earnings presentation, Aug 3, 2021
Slide 1: 1H 2021 Financial Results
1H 2021 Financial Results A ug us t 3 , 2 0 2 1
Slide 2: 1H 2021 Highlights
1H 2021 Highlights • Covid-19 emergency on the aviation sector impacting 1H 2021: en-route traffic reduced 16.6% YoY and terminal traffic declined 20.8% YoY • Net revenue in 1H 2021 slightly increased by 0.7% YoY to €375.0m mainly driven by non-regulated business performance coupled with the net eff
Slide 3: 1H 2021 Main Traffic Trends
1H 2021 Main Traffic Trends En-route (traffic breakdown by service units) Covid-19 still impacting first half 2021 traffic, on both en-route and terminal Overflight National 27% • En-route service units down 16.6%1 YoY as a combined result of: 46% 1H 2021: (16.6)% YoY • International service units d
Slide 4: Regulatory update
Regulatory update
Slide 5: RP3 Regulation Update
RP3 Regulation Update RP3 as per European Commission Proposed Timing Derogation for RP3 Performance Plan Definition • The RP3 regulatory framework was approved in February 2019 and cost efficiency targets were set in May 2019 with performance plans submitted by year end 2019 • Approval by European C
Slide 6: Countermeasures to Support Air Transport Sector
Countermeasures to Support Air Transport Sector Agreement with Eurocontrol and member states to defer 1 February-to-May billing due from airlines Airline Feb 2020 Mar 2020 Apr 2020 May 2020 From June 2020 payments are onward regular, with Return to regular 99.5% €50m revenue Traffic revenue Traffic
Slide 7: 1H 2021 Financials Overview
C'enav group 1H 2021 Financials Overview
Slide 8: Net Revenue Performance
Net Revenue Performance Net Revenue Breakdown €m 375.0 • 1H 2021 net revenue slightly increased by 0.7% YoY, (€2.5m) 372.5 0.7% (5.9)% mainly driven by non-regulated business 38 36 110 86 (21.7)% • Decrease in both en-route and terminal revenue, down YoY by 21.7% and 5.9% respectively, due to the Co
Slide 9: Cost Evolution
Cost Evolution External Cost • External opex increase of 1.6% YoY (+€1.0m) as a combination of €m 1.6% 63.5 • higher expenses mainly related to: 62.5 ➢ operating personnel business trip (+27.0% or €0.9m) restarted after removal of travel limitations ➢ maintenance (+15.1% or €1.3m) related to increas
Slide 10: Net Revenue and EBITDA Development
Net Revenue and EBITDA Development Net Revenue €m 16 0.7% • Net Revenue increase of 0.7% YoY driven by: 372.5 0.7 21.3 3.3 375.0 • Decrease of €23.9m and €2.2m in 3.3 en-route and terminal revenue, (2.2) respectively (23.9) • Slightly increase in revenue from exempted flights (€0.7m) 1H 20 En-route
Slide 11: Consolidated P&L and Main Movements Below EBITDA
Consolidated P&L and Main Movements Below EBITDA Change 1H 2021 1H 2020 Amount % Revenue from operations 142,353 164,482 (22,129) -13.5% • D&A decreased by 6.0% YoY as a Balance 212,722 191,432 21,290 11.1% consequence of previous years investments Other operating income 19,918 16,577 3,341 20.2% ti
Slide 12: Cash Flow and Capitalization
Cash Flow and Capitalization Maturity Total debt outstanding/ Current cash (€m) Non-current* (<1 year) Total Debt 69 461 530 Cash & Equivalents 141 Net Debt (Net Cash) 390 Net Debt / 2020 EBITDA 1.85 x • ENAV’s liquidity and financial position remains adequate • Cash balance in 1H 2021 decreased by
Slide 13: Thank You
CV'enav group INNOVATING THE SKY THANK YOU mw sustainabilityenav We look up to cleaner and safe skies. [email protected]
Slide 14: Disclaimer
Disclaimer This presentation contains certain forward-looking statements that reflect the Company’s management current views with respect to future events and the financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on ENAV S.p.A.’s cu