Italy's Enav seeks M&A in airport management, software services
21/03/2024 11:54
ROME, March 21 (Reuters) - Italian air traffic
controller Enav ENAV.MI said on Thursday it plans to expand
its licences and software services business through mergers and
acquisitions, and is evaluating the airport market, as part of a
new strategy through 2026.
The group earlier posted revenue of 1 billion euros ($1.09
billion) for last year, pushed by a record number of flights,
and said it would pay its highest ever dividend of 0.23 euros
per share.
It said it had earmarked up to 250 million euros for
investments in the next three years, estimating revenues could
grow by a further 100 million euros in the period from these
deals.
CEO Pasqualino Monti said in a statement that the regulated
market - handling air traffic crossing Italian airspace and
providing assistance during aircraft approach, takeoff and
landing - would continue to be the group's core business.
Shares in Enav were up more than 7% at 1101 GMT.
The group said it expected air traffic to grow a further 7%
in 2024.
($1 = 0.9163 euros)
(Writing by Francesca Piscioneri; Editing by Giulia Segreti and
Jan Harvey)
((francesca.piscioneri@thomsonreuters.com; 0680307713;))