Enav SpA
MIL:ENAV

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Enav SpA
MIL:ENAV
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Price: 4.554 EUR -0.48% Market Closed
Market Cap: 2.5B EUR

Enav SpA
Investor Relations

Enav SpA is the backbone of Italian air navigation, deftly orchestrating the complex ballet of planes crisscrossing the nation's airspace. Established as a cornerstone of Italy's aviation industry, Enav operates with a clarity of purpose—to ensure the safe and efficient flow of air traffic over one of Europe's busiest corridors. They achieve this through a sophisticated integration of cutting-edge technology and an expert workforce. Air traffic controllers, engineers, and technicians form the heart of the company, working in concert to manage flight paths, maintain communication systems, and oversee the infrastructure that supports safe air travel. This intricate operation is supported by investments in state-of-the-art technology and a focus on sustainability and environmental responsibility.

From its strategic operational base, Enav SpA generates revenue by providing essential air navigation services. Their income streams primarily stem from en-route charges paid by airlines flying through Italian airspace and terminal charges for takeoffs and landings at airports across Italy. Additionally, Enav offers consultancy and training services internationally, leveraging its expertise to assist other countries in elevating their air traffic management standards. As air traffic continues to grow, Enav's role becomes even more critical, positioning it as not just a service provider but a pivotal player in the global aviation ecosystem. By streamlining operations and maintaining rigorous safety standards, Enav ensures the seamless movement of millions of passengers and endless cargo shipments, reaffirming its status as a linchpin of modern air travel.

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Last Earnings Call
Fiscal Period
Q1 2025
Call Date
May 14, 2025
AI Summary
Q1 2025

Traffic Growth: En-route service units rose 7.4% year-on-year in Q1 and were 1.2% above business plan projections, with strong April momentum continuing.

Financial Performance: Revenues reached EUR 181 million, down EUR 13 million year-on-year due to negative balance reversals, but core business revenues increased.

Free Cash Flow: Free cash flow climbed 25.5% year-on-year to EUR 28 million, and the company guides for EUR 240 million for full-year 2025.

Net Loss: The group reported a net loss of EUR 29.3 million for Q1, in line with typical seasonality.

Outlook: Management says 2025 targets are comfortably within reach, with possible upside if current trends persist.

Cost Control: Operating costs rose 2.8%, mainly from salary inflation and higher energy costs, but are tracking to plan.

Regulatory Changes: Both en-route and terminal businesses are now fully aligned under the new performance scheme, impacting revenue seasonality.

Key Financials
Service Units for En-Route
2.2 million
Service Units for En-Route (vs Plan)
2.2 million
Terminal Service Units Growth
5.6%
Revenue
EUR 181 million
Net Regulated Business Revenue
EUR 7.1 million
Core Business Regulated Revenue
EUR 5.4 million increase
Balance Reversal Impact
EUR -36 million
Operating Costs
EUR 182 million
EBITDA
EUR 0.8 million
Net Loss
EUR 29.3 million
Net Debt
EUR 223 million
Operating Cash Flow
EUR 53.1 million
Cash CapEx
EUR 25.1 million
Free Cash Flow
EUR 28 million
Net Financial Expenses
EUR 2.2 million
Average Interest Rate
3.71%
Taxes
EUR 0.9 million
Punctuality Bonus Target
0 (delay); Year-end target: 0.14
Earnings Call Recording
Other Earnings Calls
2025
2024
2023
2021
2020
2019
2018

Management

Mr. Pasqualino Monti
CEO & Director
No Bio Available
Mr. Luca Colman
Chief Financial Officer
No Bio Available
Mr. Maurizio Paggetti
Chief Operating Officer
No Bio Available
Mr. Vincenzo Smorto
Chief Technology Officer
No Bio Available
Mr. Vittorio De Domenico
Head of Investor Relations
No Bio Available
Mr. Florenziano Bettini
Head of Integrated Compliance & Risk Management
No Bio Available
Ms. Raffaella Romagnoli
General Counsel and Head of Legal, Corporate Affairs & Governance
No Bio Available
Ms. Nicoletta Tomiselli
Head of Communication
No Bio Available
Ms. Monica Cacciapuoti
Chief HR & Corporate Services Officer
No Bio Available
Mr. Giulio Gamaleri
Head of Brand Development
No Bio Available

Contacts

Address
ROMA
Rome
Via Salaria, 716
Contacts
+390681661.0
www.enav.it