1Q 2023 Financial Results

May 11, 2023

1Q 2023 Group's Highlights

En-Route traffic

1.89m SUs1

+26.8% vs. 1Q 2022

EBITDA

€9.7m

-35.9% vs. 1Q 2022

EBITDA margin

5.5%

Terminal traffic

Total Revenue

191.6k SUs1

€176.8m

+22.5% vs. 1Q 2022

+5.2% vs. 1Q 2022

Net ResultCAPEX

-€21.8m

€14.7m

-41.8% vs. 1Q 2022

+12.2% vs. 1Q 2022

Non-Reg. Revenue

€5.8m

-4.1% vs. 1Q 2022

Net Financial Debt2

€390.9m

vs. €407.8m in FY 2022

2

Net Debt/FY 2022 EBITDA

1.44x

1.

Excluding exempt flights not communicated to Eurocontrol (for en-route 433 SUs and for terminal 188 SUs)

2

2. Net Financial Debt includes Trade Payable, as per Consob indication n. 5/21 issued in May 2021, of €75.6m in 1Q 2023

1Q 2023 Main Traffic Trends - En-Route

Traffic breakdown by service units

Quarterly service units trend1

1Q 2023: 1,892,543 1 ➔ +26.8% YoY

('000/%)

3,314

2,384

2,574

National

2,181

1,827

1,893

21%

1,493

1,016

Overflight

556

42%

International

En-Route 2021

En-Route 2022

En-Route 2023

37%

1Q

2Q

3Q

4Q

  • 1Q 2023 En-route service units up 26.8%1 YoY with forceful result in all segments:
    • International service units up 38.3% YoY
    • Overflight service units up 33.1% YoY
    • National service units up 4.3% YoY
  • 1Q 2023 En-route traffic1 shows a strong growth, reaching quarterly volume 4.2% above 1Q 2019
  • In the month of April 2023, total En-route managed flights were in line with 1Q 2023 positive trend

1. Excluding exempt flights not communicated to Eurocontrol (433 SUs)

3

1Q 2023 Main Traffic Trends - Terminal

Traffic breakdown by service units

Quarterly service units trend1

1Q 2023: 191.623 1 ➔ +22.5% YoY

('000/%)

247

285

International

218

212

Zone 3

Zone 1

192

63%

181

156

42%

20%

98

54

National

Terminal 2021

Terminal 2022

Terminal 2023

37%

Zone 2

38%

1Q

2Q

3Q

4Q

  • 1Q 2023 Terminal service units up 22.5%1 YoY:
    • Increase in international and national traffic, up 34.3% and 7.1% YoY, respectively
    • Increase in all charging zones
  • 1Q 2023 Terminal traffic1 shows an improving recovery trend, reaching 91.8% of 1Q 2019 traffic

1.

Excluding exempt flights not communicated to Eurocontrol (188 SUs)

4

1Q 2023

Financial Overview

Attachments

Disclaimer

ENAV S.p.A. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 13:03:03 UTC.