ENAV Investor Day: new opportunities in non-regulated markets
ENAV SpA, the Italian Air Navigation Service Provider, today has presented to the financial market and the press, its guidelines for development in the non-regulated market for the next three years through both organic and inorganic growth. Value creation for the Company and shareholders will be the drivers for the identification of the areas of growth.
Organic Growth Strategy
The organic growth plan has two pillars:
- Maximizing Core Market Potential: Achieving full potential in the current « core » third market areas (e.g. licences and software, technical and engineering services, avio consultancies) by acting on the main lever of strengthening commercial and delivery capacity.
- Diversification and Optimization: Optimisation and development of other market businesses to enhance ENAV’s distinctive competencies and diversify the portfolio of activities (e.g. dedicated platforms for drone services, training, flight inspection, meteorology).
The organic development will allow a strong increase in revenues to about 70 million euro by 2026 against 43.1 million euro in 2023.
Inorganic Growth Strategy
These pillars are flanked by a third, non-organic strategic line, which envisages selected M&A operations with the aim of strengthening the position both in licences and software and services sector also to enhance the offer in terms of cyber security solutions and in the technical and engineering services sector; on top of this, the Group is evaluating the airport market.
The Group expects an overall financial investment up to 250 million euros by 2026, with eventual M&A operations that are estimated to bring additional revenues of more than approximately 100 million euros.
Financial Sustainability and Structure
From a financial point of view, the solidity of the Group’s financial structure is confirmed, as any operations will be financed by issuing new debt, with leverage firmly anchored below 2x.
Business Lines for Development
In particular, the plan for the development of the non-regulated market is divided into the following 8 business lines:
- Software Licences and Services
- Drone Market – Unmanned Traffic Management
- Technical and Engineering Services
- Aeronautical Consulting
- Training
- Weather
- Flight Inspection
- Airport Management
Each of these segments represents a strategic avenue for ENAV’s expansion and diversification, leveraging on its expertise and market insights to drive growth and value creation in the non-regulated sectors.
The CEO of ENAV SpA Pasqualino Monti stated: This strategy focuses on growth, innovation and sustainability. The regulated market represents and will continue to represent ENAV Group’s core business, both in terms of revenues and resources employed. Therefore, we will continue to strengthen it. However, we want to capitalise on the skills and reputation we have gained, leveraging our commercial activities to accelerate the Group’s development and margins in the short-medium term, enhancing ENAV distinctive skills, responding to the demands of the aviation services market and competing with the major European service providers that have already embarked on this path. I am convinced that by putting people and the ability to innovate at the centre of our company’s identity, we will be ready to seize new opportunities for growth and development.
