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Key Financial Highlights & other indicators

The key consolidated highlights from the financial statements are illustrated below. 

Operating results

(Euro thousands)20172016Change
Revenues 725,979 700,134 25,845
EBITDA (1) 243,006 234,403 8,603
Operating Profit  127,890 149,999 (22,109)
Profit before taxes 118,116 141,037 (22,921)
Discontinued Operations profit/(loss) (2) 1,556 (130) 1,686
Group Net Profit 84,070 93,619 (9,549)

(1) EBITDA is calculated as the difference between total revenues and total costs, excluding provisions and write-downs.
(2) The “Discontinued operations net result” includes the net result of the company SEA Handling SpA in liquidation, as per IFRS 5. 

Financial Data

(Euro thousands)At December 31
2017		At December 31
2016		Change
Fixed assets (A) 1,319,249 1,317,157 2,092
Net Working Capital (B) (183,837) (188,683) 4,846
Provisions for risks and charges (C) (169,935) (174,061) 4,126
Employee provisions (D) (47,834) (49,220) 1,386
Other non-current payables (E) (17,588)   (17,588)
Net capital employed (A+B+C+D+E) 900,055 905,193 (5,138)
Group Net Equity 391,154 375,264 15,890
Minority interest net equity 23 566 (543)
Net financial debt 508,878 529,363 (20,485)
Total sources of financing 900,055 905,193 (5,138)

(A) Fixed assets, including those falling under IFRIC 12, are expressed net of those funded by State and European Union contributions. At December 31, 2017, they amounted to Euro 504,383 thousand and Euro 7,019 thousand respectively (at December 31, 2016, Euro 503,601 thousand and Euro 5,517 thousand respectively).

 (Euro thousands) At December 31
2017		At December 31
2016		Change
Tangible and intangible asset investments   72,140 69,487 2,653

Other Indicators

At December 31
2017		At December 31
2016
PFN/EBITDA 2.09 2.26
HDC Employees 2,837 2,866

Traffic (Commercial and General Aviation)

TRAFFIC (COMMERCIAL AND GENERAL AVIATION)