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        • Regulatory Result

    Cost-efficiency - Romania

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    Terminal charging zone

    Unit cost (KPI#1)

    Actual and determined data
    Total costs - nominal (M€) 2020-2021 2022 2023 2024
    Actual costs 35 23 NA NA
    Determined costs 36 21 24 25
    Difference costs −1 2 NA NA
    Inflation assumptions 2020-2021 2022 2023 2024
    Determined inflation rate NA 9.3% 4.0% 3.0%
    Determined inflation index NA 125.9 130.9 134.8
    Actual inflation rate NA 12.0% NA NA
    Actual inflation index NA 129 NA NA
    Difference inflation index (p.p.) NA +3.1 NA NA
    Focus on unit cost

    AUC vs. DUC

    In 2022, the terminal AUC was +11.3% (or +133.48 RON2017, +29.23 €2017) higher than the planned DUC. This results from the combination of significantly lower than planned TNSUs (-5.5%) and significantly higher than planned terminal costs in real terms (+5.2%, or +4.1 MRON2017, +0.9 M€2017). It should be noted that the actual inflation index in 2022 was +3.1 p.p. higher than planned.

    Terminal service units

    The difference between the 2022 actual and planned TNSUs (-5.5%) falls outside the ±2% dead band, but does not exceed the ±10% threshold foreseen in the traffic risk sharing mechanism. The resulting loss of terminal revenues is therefore shared between the ANSP and the airspace users, with the ANSP (ROMATSA) bearing a loss of -0.5 M€2017.

    Terminal costs by entity

    The 2022 actual real terminal costs are +5.2% (or +0.9 M€2017) higher than planned. This is results from higher than planned costs for the main ANSP, ROMATSA (+5.6%, or +1.0 M€2017) and lower than planned costs for the NSA (-33.1%, or -0.1 M€2017).

    Terminal costs for the main ANSP at charging zone level

    The 2022 actual real terminal costs for ROMATSA in 2022 are higher than planned (+5.6%, or +1.0 M€2017) ; this results from:
    - Slightly higher than planned staff costs (+1.8%, or +0.2 M€2017) due to higher than planned pension costs and staff compensation for inflation,
    - Significantly higher than planned other operating costs (+44.1%, or +1.0 M€2017) due to a provision for risk of customers insolvency;
    - Slightly lower than planned depreciation (-0.9%), due to one investment slightly delayed,
    - Significantly lower than planned cost of capital (-15.1%, or -0.1 M€2017) reported to be mainly due to delayed investment;
    - Significantly lower than planned deduction for VFR exempted flights (-67.8%) but the impact in value is limited.
    Note: It is understood that the relevant figures for 2022 will be slightly updated in the Monitoring Report 2023 following the correction of 2022 actual costs in the November 2023 reporting tables.

    Actual unit cost incurred by the users (AUCU) (PI#1)

    AUCU components (€/SU) – 2022
    Components of the AUCU in 2022 €/SU
    DUC 294.58
    Inflation adjustment 7.15
    Cost exempt from cost-sharing 6.44
    Traffic risk sharing adjustment 7.11
    Traffic adj. (costs not TRS) 1.04
    Finantial incentives 0.00
    Modulation of charges 0.00
    Cross-financing 0.00
    Other revenues −0.51
    Application of lower unit rate 0.00
    Total adjustments 21.23
    AUCU 315.81
    AUCU vs. DUC +7.2%
    Cost exempt from cost sharing by item - 2022 €'000 €/SU
    New and existing investments −78.2 −1.24
    Competent authorities and qualified entities costs −47.8 −0.76
    Eurocontrol costs 0.0 0.00
    Pension costs 531.5 8.39
    Interest on loans 2.2 0.03
    Changes in law 0.0 0.00
    Total cost exempt from cost risk sharing 407.6 6.44
    Focus on AUCU

    The actual terminal unit cost incurred by airspace users (AUCU) in respect of the activities performed in 2022 (1 559.25 RON or 316.41 €) is +7.4% higher than the nominal DUC (1 451.69 RON or 294.58 €). The difference between these two figures (+107.56 RON/SU or +21.83 €/SU) is due to:
    - the positive inflation adjustment resulting from higher than planned inflation (+35.26 RON/SU or +7.15 €/SU);
    - the impact of adjustments resulting from the costs exempted from cost-sharing mechanism (+34.65 RON/SU or +7.03 €/SU);
    - the addition of the traffic risk sharing adjustments (+35.06 RON/SU or +7.11 €/SU);
    - the addition of the traffic adjustment (+5.12 RON/SU or +1.04 €/SU) for the costs not subject to traffic risk sharing; and
    - the deduction of the other revenues (-2.53 RON/SU or -0.51 €/SU).
    The share of the regulatory result in the AUCU (before the deduction of other revenues) is -4.6%.

    Regulatory result (RR)

    Focus on regulatory result

    ROMATSA net gain on activity in the Romania terminal charging zone in the year 2022

    ROMATSA reported a net loss of -6.1 MRON, as a combination of a loss of -3.4 MRON arising from the cost sharing mechanism, with a loss of -2.8 MRON arising from the traffic risk sharing mechanism.

    ROMATSA overall regulatory results (RR) for the terminal activity

    Ex-post, the overall RR taking into account the net loss from the terminal activity mentioned above (-6.1 MRON) and the actual RoE (+1.6 MRON) amounts to -4.5 MRON (4.6% of the terminal revenues).

     
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