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Enav is preparing for acquisition operations in the unregulated sector which may also concern the management of airports. The budget that the flight controller company can put in place is equal to 250 million euros by 2026 and the expectation is that such an investment can lead to additional additional revenues of around 100 million euros. It is one of the strategic lines contained in the industrial plan for the unregulated sector whose presentation took place in Milan.
In 2023 profit of 112 million, dividend growing by 17%
The company’s board of directors also approved the 2023 accounts, which closed with revenues growing by 5.9 percent, to one billion. Of these, revenues from the unregulated sector amounted to 43.1 million, up 7.9 percent. Ebitda amounted to 300 million (+10%), net profit stood at 112.7 million, up 7.9 percent. On the basis of these results, the distribution of a dividend of 0.23 euros per share (+17%) was decided. En-route and terminal traffic were up 11% and 10.9% respectively in terms of service units.
Revenues from the regulated sector will rise from 43 to 70 million in 2026 (net of M&A)
Returning to the plan on non-regulated activities, it is expected that organic development will allow an increase in revenues to approximately 70 million euros in 2026 compared to 43.1 million euros in 2023. The sector will be developed on two pillars: grounding everything the potential in the current “core” areas of the third market (making the most of licenses and software, technical and engineering services, aeronautical consultancy) by acting on the main lever constituted by the strengthening of commercial and delivery capacity. And then the optimization and development of other businesses in which Enav is already present to enhance distinctive skills and diversify the portfolio of activities (such as platforms dedicated to drone services, training, radio measurements, weather services). These pillars, as mentioned, are accompanied by a third strategic line, «non-organic, which envisages selected M&A operations with the aim of strengthening the positioning, both in the software licensing and services sector, to enhance the offer in terms of software solutions also in the field of cyber security and in the technical and engineering services sector; to these is added the evaluation of the airport management market” is explained in the note released.
CEO Monti: ready to seize growth opportunities, only evaluations at the embryonic stage at the airports
«Our strategy focuses on growth, innovation and sustainability. The regulated market represents the core business of the Enav group – said Monti – both in terms of revenues and resources used, we will therefore continue to strengthen it. However, we want to capitalize on the skills and reputation gained, leveraging commercial activities that allow us to accelerate the group’s development and margins in the short-medium term, enhancing Enav’s distinctive skills, responding to the demands of the aviation services market and going to compete with the major European service providers who have already undertaken this path. I am convinced that by putting people and the ability to innovate at the centre, without distorting the identity of our company, we will be ready to seize new opportunities for growth and development.” Regarding possible opportunities in the airport sector.”
Regarding this last sector, the manager expressed caution. «We went to look at the airport sector, the entire sector, not the individual asset. I do not trade on a single asset. We are in an embryonic analysis phase, we cannot talk about operations. Talking about the acquisition of airports means shifting attention from what we are doing and want to do in the short term – Monti explained at the press conference -. To make acquisitions that create value you need to study and be responsible. We have structured our action because the regulated market offers great protection, it has our attention, but to grow we must look outside this market, and we must look at the unregulated market in a serious and responsible manner”, specified the CEO.