Investments - Portugal

PRB monitoring

▪ NAV Portugal planned a total RP3 asset value for new investments of 118M€₂₀₁₇, of which 62% for new major investments. NAV Portugal planned four new major investments for RP3, all of which have started.

▪ NAV Portugal planned RP3 new investments represent 2% of the Union-wide total amounts of the assets for new investments. NAV Portugal planned to invest more in ATM systems compared to the Union-wide median (76% vs 47% respectively), and less for infrastructure (12% vs 27%).

▪ NAV Portugal underspent -5M€₂₀₁₇ (-5.5%) in costs related to investments during RP3 (-3.9M€₂₀₁₇ in en route and -1.1M€₂₀₁₇ in terminal), according to the reporting tables. However, in the monitoring reports, NAV Portugal reported an underspending of -4.1M€₂₀₁₇ (-4.5%). No explanation for the differences has been provided. These amounts shall be reimbursed to the airspace users through a reduction of future unit rate(s), unless the NSA decides after consultation with the users, that the ANSP shall not reimburse a part of the difference according to article 28 of Regulation (EU) 2019/317.

▪ Both NAV Portugal and SESAR Deployment Manager reported 0.7M€₂₀₁₇ funding from Union assistance programmes in RP3.

Value of the assets for New Investments included in the Performance Plan Portugal | NAV Portugal (Continental)

Determined and additional asset value by investment category

Total value of the asset for new investments (M€2017)	118.08	% of total
New major investments (above 5M€ each)	73.02	62%
Included in the performance plan	73.02	62%
Additional	0.00	0%
Other new investments (below 5M€ each)	45.06	38%

Determined asset value: en route and terminal

Total value of the asset for new major investments (M€2017)	73.02	% of total
En route	58.18	80%
Terminal	14.85	20%

Determined asset value by type of investment

Total value of the asset for new major investments (M€2017)	73.02	% of total
ATM systems	55.46	76%
CNS systems	8.43	12%
Infrastructure	9.13	13%
Other	0.00	0%
Unknown	0.00	0%

Asset value for new investments: ANSP compared to Union-wide

Costs related to investments included in the Performance Plan Portugal | NAV Portugal (Continental)

New and existing investments

Determined costs	2020D	2021D	2022D	2023D	2024D	RP3
Total costs of new and existing investments (M€2017)	12.60	13.53	19.31	22.29	23.87	91.61
New major investments	0.00	0.83	6.00	11.88	13.04	31.75
Other new investments	1.17	2.33	3.28	3.96	4.46	15.19
Existing investments	11.44	10.37	10.04	6.45	6.37	44.66

Actual costs	2020A	2021A	2022A	2023A	2024A	RP3
Total costs of new and existing investments (M€2017)	12.60	13.13	15.68	23.09	22.97	87.47
New major investments	0.00	2.12	5.99	15.66	14.74	38.50
Other new investments	1.17	2.27	4.05	2.52	4.89	14.90
Existing investments	11.44	8.74	5.65	4.91	3.34	34.07

Difference (A-D)	2020	2021	2022	2023	2024	RP3
Total difference (M€2017)	0.00	(0.41)	(3.63)	0.79	(0.90)	(4.14)
New major investments	0.00	1.28	(0.01)	3.77	1.70	6.75
% change of actual with respect to determined	0%	+155%	0%	+32%	+13%	+199%
Other new investments	0.00	(0.06)	0.77	(1.44)	0.43	(0.30)
% change of actual with respect to determined	0%	-3%	+23%	-36%	+10%	-6%
Existing investments	0.00	(1.63)	(4.39)	(1.54)	(3.03)	(10.59)
% change of actual with respect to determined	0%	-16%	-44%	-24%	-48%	-131%

Costs of investments by nature - En route

Determined costs	2020D	2021D	2022D	2023D	2024D	RP3
Total costs of new and existing investments (M€2017)	8.76	9.93	15.80	18.17	18.95	71.62
Depreciation	7.61	7.44	13.23	15.37	16.30	59.96
Cost of capital	1.15	2.49	2.57	2.80	2.65	11.66
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Actual costs	2020A	2021A	2022A	2023A	2024A	RP3
Total costs of new and existing investments (M€2017)	8.76	8.95	12.35	19.40	18.22	67.68
Depreciation	7.61	7.57	10.48	17.17	16.23	59.06
Cost of capital	1.15	1.38	1.87	2.24	1.98	8.62
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Difference (A-D)	2020	2021	2022	2023	2024	RP3
Total difference (M€2017)	0.00	(0.98)	(3.45)	1.23	(0.74)	(3.94)
Depreciation	0.00	0.13	(2.75)	1.80	(0.07)	(0.89)
Cost of capital	0.00	(1.11)	(0.70)	(0.57)	(0.67)	(3.04)
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Costs of investments by nature - Terminal

Determined costs	2020D	2021D	2022D	2023D	2024D	RP3
Total costs of new and existing investments (M€2017)	3.84	3.60	3.51	4.12	4.92	19.99
Depreciation	3.11	2.92	3.01	3.46	4.05	16.55
Cost of capital	0.73	0.67	0.51	0.66	0.87	3.44
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Actual costs	2020A	2021A	2022A	2023A	2024A	RP3
Total costs of new and existing investments (M€2017)	3.84	4.17	3.33	3.68	3.85	18.88
Depreciation	3.11	3.25	2.87	3.31	3.47	16.01
Cost of capital	0.73	0.92	0.46	0.37	0.38	2.87
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Difference (A-D)	2020	2021	2022	2023	2024	RP3
Total difference (M€2017)	0.00	0.58	(0.18)	(0.44)	(1.07)	(1.12)
Depreciation	0.00	0.33	(0.13)	(0.15)	(0.58)	(0.54)
Cost of capital	0.00	0.25	(0.05)	(0.29)	(0.49)	(0.57)
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Costs by new major investments

Determined costs	2020D	2021D	2022D	2023D	2024D	RP3
Total costs of new and existing investments (M€2017)	0.00	0.83	6.00	11.88	13.04	31.75
TOPLIS - TOPSKY ACC	0.00	0.75	5.24	10.23	10.61	26.82
TOPLIS - TOPSKY TWR's	0.00	0.02	0.35	0.79	0.94	2.11
Lisbon Airport Expansion (ATM, CNS and Infras)	0.00	0.01	0.02	0.03	0.43	0.50
Modernization of the Secondary Radars	0.00	0.04	0.39	0.83	1.07	2.33

Actual costs	2020A	2021A	2022A	2023A	2024A	RP3
Total costs of new and existing investments (M€2017)	0.00	2.12	5.99	15.66	14.74	38.50
TOPLIS - TOPSKY ACC	0.00	1.77	4.93	13.09	12.36	32.14
TOPLIS - TOPSKY TWR's	0.00	0.01	0.02	0.05	0.05	0.13
Lisbon Airport Expansion (ATM, CNS and Infras)	0.00	0.22	0.50	1.18	1.02	2.93
Modernization of the Secondary Radars	0.00	0.11	0.54	1.34	1.32	3.30

Difference (A-D)	2020	2021	2022	2023	2024	RP3
Total difference (M€2017)	0.00	1.28	(0.01)	3.77	1.70	6.75
TOPLIS - TOPSKY ACC	0.00	1.02	(0.31)	2.86	1.75	5.32
TOPLIS - TOPSKY TWR's	0.00	(0.01)	(0.33)	(0.74)	(0.89)	(1.98)
Lisbon Airport Expansion (ATM, CNS and Infras)	0.00	0.21	0.48	1.15	0.59	2.44
Modernization of the Secondary Radars	0.00	0.06	0.15	0.50	0.25	0.97

Expected benefit and impact per new major investment Portugal | NAV Portugal (Continental)

New major investments	Expected benefit per KPA	SAF	ENV	CAP	CEF
Modernization of the Secondary Radars
Lisbon Airport Expansion (ATM, CNS and Infras)				X
TOPLIS - TOPSKY ACC		X	X	X	X
TOPLIS - TOPSKY TWR's

New major investments	Expected impact	Network	Local	Non-performance
Modernization of the Secondary Radars
Lisbon Airport Expansion (ATM, CNS and Infras)		X	X
TOPLIS - TOPSKY ACC
TOPLIS - TOPSKY TWR's

New major investments	SES mandated	Partnership	ATM systems
			ATM system	CP/MP
Modernization of the Secondary Radars	X
Lisbon Airport Expansion (ATM, CNS and Infras)			X
TOPLIS - TOPSKY ACC	X	X	X	X
TOPLIS - TOPSKY TWR's	X		X	X

Public funding granted for total CAPEX (CEF/TEN-T)

Actual funding declaration vs payments

Funding declared (M€2017)	2020	2021	2022	2023	2024	RP3
Total included in the funding declaration (reporting tables)	0.13	0.22	0.30	0.00	0.00	0.65
SDM Payment	-0.38	0.36	0.16	0.30	0.22	0.65
Difference between total funding declared vs received	0.51	(0.13)	0.14	(0.30)	(0.22)	(0.00)