Enav S.p.a. · MIL:ENAV
Enav — 9M 2023 Earnings Presentation
11 slides from Enav's earnings presentation, Nov 14, 2023
Slide 1: 9M 2023 Financial Results
9M 2023 Financial Results November 14, 2023
Slide 2: 9M 2023 Group's Highlights
9M 2023 Group’s Highlights En-route traffic Terminal traffic Total Revenue Non-Reg. Revenue 8.19m SUs 1 762.3k SUs 1 €740.2m €26.6m +11.0% vs. 9M 2022 +10.7% vs. 9M 2022 +3.6% vs. 9M 2022 +0.4% vs. 9M 2022 2 EBITDA Net Financial Debt Net Result CAPEX €220.0m €329.9m +0.1% vs. 9M 2022 €86.3m €54.4m v
Slide 3: 9M 2023 Main Traffic Trends – En-route
9M 2023 Main Traffic Trends – En-route Traffic breakdown by service units Quarterly service units trend1 (‘000/%) 9M 2023: 8,194,1011 ➔ +11.0% YoY 3,314 3,477 2,825 2,574 National 2,384 2,181 17% 1,827 1,893 1,493 1,016 Overflight 556 44% International 39% En-Route 2021 En-Route 2022 En-Route 2023 1
Slide 4: 9M 2023 Main Traffic Trends – Terminal
9M 2023 Main Traffic Trends – Terminal Traffic breakdown by service units Quarterly service units trend1 (‘000/%) 9M 2023: 762,3161 ➔ +10.7% YoY International 303 285 66% Zone 1 267 247 20% 218 212 181 192 Zone 3 156 46% 98 54 Zone 2 National 34% Terminal 2021 Terminal 2022 Terminal 2023 34% 1Q 2Q 3
Slide 5: 9M 2023 Financial Overview
9M 2023 Financial Overview
Slide 6: Total Revenue Performance
Total Revenue Performance Total Revenue Breakdown Non-Regulated Revenue €m €m +3.6% 740.2 714.4 +3.8% 63.2 60.9 184.7 +9.1% 169.3 +0.4% 26.5 26.6 500.4 536.9 +7.3% -16.2 -44.6 n.a. 9M 2022 9M 2023 9M 2022 9M 2023 Balance En-route Terminal Other 1 9M 2023 total revenue increased 3.6% YoY (+€25.8m) pr
Slide 7: Cost Evolution
Cost Evolution Total operating costs Focus on personnel cost €m €m +5.2% 520.2 +7.3% 494.6 430.0 400.9 114.2 +1.1% 113.0 127.2 116.4 60.4 71.9 +19.1% 400.9 430.0 +7.3% 224.2 230.9 +3.0% -19.3 -24.0 +24.1% 9M 2022 9M 2023 9M 2022 9M 2023 Personnel costs Other operating expenses Capitalized internal w
Slide 8: Main Movements below EBITDA
Main Movements below EBITDA Change 9M 2023 9M 2022 thousands euro Amount % EBITDA 219,962 219,806 156 0.1% EBITDA margin 29.7% 30.8% (1.1) p.p. D&A (net of capex contributions) (84,765) (85,302) 537 -0.6% Provisions and write-downs (3,451) (3,302) (149) 4.5% EBIT 131,746 131,202 544 0.4% EBIT margin
Slide 9: Cash Flow and Capitalization
Cash Flow and Capitalization 9M 2023 Maturity Total debt €m Current outstanding/ Non-current cash (<1 year) Financial Debt 35 512 547 Trade Payable* 91 91 Total Debt 35 603 638 Cash & Cash Equivalents 308 Net Debt 330 Net Debt/FY 2022 EBITDA 1.2 x ENAV’s liquidity and financial position remains very
Slide 10: Thanks for your attention
THANKS FOR YOUR ATTENTION Q&A SESSION enav.it
Slide 11: 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