EL7.AI
StocksMediumUpdated×2•Originally published 12 November 2026•Updated 12 November 2026•
2 min read

Two Million Flights Prompt ENAV to Raise 2026 EBITDA Growth Forecast to 8%–10%

Key Facts

1ENAV managed two million flights in the first nine months of 2026, a record for air traffic over Italy.
2The company raised its 2026 EBITDA growth forecast to 8%–10% from 6%–8%.
3Net profit reached €90.9 million, up 36.5% year on year.
4Consolidated revenue rose 8.6% to €812.8 million.

ENAV raised its forecast for 2026 earnings before interest, taxes, depreciation and amortization (EBITDA) growth to a range of 8%–10%, from a previous forecast of 6%–8%, after air traffic over Italy reached a record in the first nine months. ANSA reported that the company managed two million flights during the period, a record for air traffic in Italian airspace. The company announced on November 12 its results for the nine months ended September 30, 2026, in line with its published financial calendar. Consolidated net profit reached €90.9 million, up 36.5% year on year. Consolidated revenue also rose 8.6% to €812.8 million, results that supported the revision to its annual earnings forecast.

Traffic data showed a 7.2% increase in route service units compared with the first nine months of 2025, while terminal service units rose 4.8%. These figures reflect increased activity managed by the company in the airspace and around airports. ENAV raised its forecast for full-year 2026 route traffic growth to about 7%, from a previous estimate just below 6%. The earnings forecast increase was therefore accompanied by an upward revision to the annual traffic outlook. Chief Executive Igor De Biasio said the results "confirm ENAV's prominent role" as Italian air traffic expands and strengthen Italy's position on international routes.

Free cash flow in the first nine months rose to €237.3 million, up 20.1% from the corresponding period in 2025. ANSA described it as a "marked improvement," pointing to the increase in cash generated during the period alongside growth in revenue and net profit. The company kept its 2026 free cash flow forecast at €290 million. That leaves its annual cash flow estimate at the previous level, alongside the higher earnings and route traffic forecasts.

The move came on the day the company announced its nine-month results and updated its annual forecasts. The results included increases in net profit, revenue and free cash flow compared with the corresponding period a year earlier. The updated forecasts cover EBITDA growth of 8%–10% and route traffic growth of about 7% in 2026. The company had set November 12 as the date for its board to approve the financial report for the nine months ended September 30.