Aeroporto Guglielmo Marconi di Bologna S p A : Risultati finanziari al 31/12/2020

FY 2020 RESULTS

BOLOGNA, MARCH 15TH 2021

GROUP HIGHLIGHTS

TRAFFIC TREND IN EUROPE AND IN ITALY - OVERVIEW

Despite a slightly positive trend in the first 2 months of the year (January +2.2% and February +0.9%),

European traffic dropped by 21% during the first

quarter of 2020.

The restrictive measures imposed by governments on circulation, on economic and social activities, as well as the almost total elimination of flights operated by the airlines, have brought European traffic almost to zero in the period between the end of March and the beginning of June. During summer, after a general elimination of traffic restrictions, a slow and progressive recovery of traffic was possible. However, starting from the end of September traffic suffered again a material slowdown (up to -90% yoy) due to a new increase in infections and to the spread of virus variants.

According to ACI Europe, the Covid-19 pandemic has resulted in a loss of 1.7 billion passengers in Europe in 2020, bringing traffic data back to 1995 levels.

After the timid recovery of the summer months, Italian airports recorded as well a significant drop in traffic in the last quarter of the year. Overall, in 2020 traffic figures showed a loss of 140 million passengers vs 2019 (-72.6% yoy).

In particular, the traffic figures relating to international flights recorded a dramatic decrease (-78,4% vs 2019), mainly due to quarantines and restrictions imposed by individual states on air travel. The contraction in the domestic traffic figures was less severe (-61.3%).

Source: ACI Europe, the sample considered represents 86% of European traffic as a whole; Assaeroporti, traffic figures at 31st December 2020.

TRAFFIC TREND IN EUROPE - EU vs NON-EU AIRPORTS

Source: ACI Europe, the sample considered represents 86% of European traffic as a whole.

EU airports (-73% vs 2019 with 1.3 billion passengers lost compared with last year) were significantly more impacted than those in the non-EU area (-61.9% or 400 million passengers less than 2019).

This is mainly due to the size and relative resilience of domestic markets primarily in Russia but also Turkey, combined with less stringent lockdowns and travel restrictions compared to the EU market.

This trend strongly impacted European major hubs: 2019 top 5 hubs - London-Heathrow, Paris-CDG, Amsterdam-Schiphol, Frankfurt and Istanbul - lost 250 million passengers in 2020. Frankfurt (-73.4%) posted the largest decrease, closely followed by London-Heathrow (-72.7%), Amsterdam-Schiphol (-70.9%), Paris-CDG (-70.8%) and Istanbul (-59.6%).

By the end of the year, only Istanbul remained within the top 5 hubs, having become the busiest European airport, followed by only Turkish and Russian airports (i.e. Istanbul-Sabiha Gokcen, Moscow-Sheremetyevo, Moscow-Domodedovo and Moscow-Vnukovo.