)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
ENAV (ENAV) investor relations material
ENAV Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Italian airspace achieved record traffic growth, managing 1.9 million flights and maintaining best-in-class punctuality with only 0.014 minutes of delay per flight, outperforming the European average.
Passenger traffic exceeded 177 million, up 5% year-over-year, with international routes accounting for 121.2 million.
Despite operational growth, total revenues declined 2.9% year-over-year due to regulatory changes and negative balance adjustments.
Net profit for the period was €66.6 million, down 25.7% from the prior year, reflecting higher costs and regulatory impacts.
Outlook for 2025 remains positive, with upgraded guidance and strong operational and financial performance.
Financial highlights
Operating revenues reached €889.3 million, up 10.6% year-over-year, but consolidated total revenues were €748.4 million, down 2.9% due to regulatory effects.
EBITDA was €180.2 million (24% margin), down 19.1% year-over-year; EBIT was €103.0 million (14% margin), down 26.1%.
Free cash flow reached €197.6 million, up 51.3% year-over-year.
Net financial debt decreased to €205.3 million, down €53 million from December 2024.
Dividend of €146.2 million paid in June 2025.
Outlook and guidance
2025 outlook and upgraded guidance confirmed, with targets in line with the revised first-half forecast.
Regulatory framework for 2025–2029 (RP4) consolidated, providing tariff and performance stability.
Revenue targets for the non-regulated market expected to be achieved by year-end, supported by new commercial opportunities.
Traffic growth for 2025 expected at 6%, with 2026 forecast at 3%, in line with EUROCONTROL.
Cost control and efficiency measures to continue into 2026, with further details after budget finalization.
Balance component impact on revenues?
Punctuality bonus financial impact estimate
Non-regulated market future growth drivers
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next ENAV earnings date
Q4 202517 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
ENAV S.p.A. is an Italy-based company that specializes in air traffic control and management. It provides a range of air navigation services, including the management of national airspace and civil airports, across Italy and internationally. ENAV operates through three main sectors: Air Navigation Services, Maintenance Services, and AIM Software Solutions. The company also focuses on the technical management and maintenance of air traffic control equipment and systems, as well as the development of software solutions for the management of aeronautical information. Additionally, ENAV offers services such as air traffic flow management, communication, navigation, surveillance, digital aeronautical information management, flight procedure design and validation, among others. The company is headquartered in Rome, Italy, and its shares are listed on the Milan Stock Exchange.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage