ENAV BoD: results for the first nine months of 2024 approved - All-time record air traffic over Italy driven by international flights

The Board of Directors of ENAV S.p.A., held today under the chair of Alessandra Bruni, approved the Interim Report on Operations at 30 September 2024.

The first nine months of 2024 were impacted by continued robust growth in air traffic, reaching the highest level ever achieved. Italy is confirmed as the best performer among the major European countries, with a 10.8% increase in en-route service units in comparison with the same period of the last year, compared to the average growth of 7.0% in France, Germany, Great Britain and Spain.

Chief Executive Officer Pasqualino Monti said: "In Italy, air traffic volume has exceeded forecasts and for the full year we expect a double-digit growth over 2023. The Group is solid and the excellent results today approved are in line with our year-end targets.

The new organizational model, which aims to separate competences and activities between core business and the non-regulated market, will accelerate the digital transition to enhance the airspace management, also promoting drone development, and strengthening the Company's presence in international markets. We are developing new products and services, which are currently being implemented and which will upgrade our commercial offer."

• En-route and terminal traffic up 10.8% and 10.7%, respectively, in terms of service units compared to the first nine months of 2023;

• Consolidated revenue of 770.5 million euro, up 4.1% compared to the first nine months of 2023;

• Consolidated EBITDA of 222.8 million euro, up 1.3% compared to the first nine months of 2023, with an EBITDA margin of 28.9%;

• Consolidated net profit at 89.6 million euro, up 3.8% compared to the first nine months of 2023;

• Free cash flow at 130.6 million euro, with a significant improvement compared to the first nine months of 2023 (96.6 million euro).