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Appendix (notes on the financial statements)
56 57
1 General points
The financial statement and consolidated (group) financial statement
for the financial year 2009 have been produced in accordance with
the provisions for limited companies in the German Commercial Code
and are explained jointly below, unless otherwise noted.
The profit and loss statements have been prepared on the basis
of categorised expenses.
2 Consolidation group
In addition to Flughafen Hamburg GmbH (FHG), the 7 companies
listed in Table 2a, in which FHG has either a direct or indirect majority
of the voting rights, are included in the consolidated financial statement.
Due to their relative insignificance for the Group’s financial position
and earnings, the 11 companies listed in Table 2b have been
omitted from the consolidated financial statement in accordance with
§296(2) of the German Commercial Code.
Shareholdings in associated companies are valued according to
the equity method where the Group holds a share of between 20%
and 50% and has a substantial say in the company’s affairs. FHG has
shareholdings in the companies listed in Table 2c.
3 Principles of consolidation
Capital consolidation was performed according to the book value
method, which offsets purchase cost against the Group share of the
2a Companies included in the consolidated financial statement
equity of the consolidated subsidiaries at the time of their purchase
or initial consolidation. Any positive differences arising were offset
against capital reserves in accordance with §309(1) No. 3 of the German
Commercial Code.
The associated companies included in the consolidated financial
statements have been valued according to the book value method
(§312(1) No. 1 German Commercial Code) at the time of their purchase
or initial consolidation. Any differences arising between the book
value of the shareholding and the share of equity capital were offset
against reserves. At the time of this calculation, German Standard
No. 4 for the Rendering of Accounts did not apply.
Debt consolidation performed in accordance with §303 of the German
Commercial Code produced a negative difference of €107,000
due to the valuation of pension provisions on the basis of actuarial
going concern value and active counterclaims, valued at cash value.
Sales revenue, expenses and income, loans and other receivables,
liabilities and provisions existing between the companies consolidated
have been eliminated. Interim results in accordance with §304 German
Commercial Code have not been eliminated.
4 Principles of accounting and valuation
Companies incorporated in the consolidated financial statement
implement unified and consistent principles of accounting and valuation.
Name and registered office of company Subscribed capital or Share Share
capital invested by of in
limited partners in €’000 company percent
Flughafen Hamburg Gesellschaft mit beschränkter Haftung,
Hamburg (FHG)
56,027
GroundSTARS GmbH & Co. KG, Hamburg
(GroundSTARS KG)
1,136 FHG 100
STARS Special Transport and Ramp Services GmbH & Co. KG,
Hamburg (STARS KG)
500 FHG 51
SAEMS Special Airport Equipment and Maintenance Services GmbH & Co. KG,
Hamburg (SAEMS KG)
300 FHG 60
CATS Cleaning and Aircraft Technical Services GmbH & Co. KG,
Hamburg (CATS KG)
205 FHG 100
SecuServe Aviation Security and Services Hamburg GmbH,
Hamburg (SecuServe Hamburg)
150 FHG 100
AIRSYS-Airport Business Information Systems GmbH,
Hamburg (AIRSYS)
100 FHG 100
RMH Real Estate Maintenance Hamburg GmbH,
Hamburg (RMH)
50 FHG 100
Due to revokation of the Retainment Option Right (§308(3)
German Commercial Code), transfers of tax-free reserves based on
tangible assets as of 1 January 2004 undertaken in previous years
in accordance with §163(1) of the Transfer Regulations (Abgabeordnung)
were entered in the Group financial statement to the amortisation
value allowed by tax regulations and assigned to profit reserves.
Due to the tax group relationship with FHK Flughafen Hamburg
Konsortial- und Service GmbH & Co. oHG (FHK oHG), reserves for
provisional taxation have not been established.
As a result of assignments to tangible assets in 2004, ongoing
amortisation in the year under review was €1,692,000 higher; withdrawal
of the same amount from other profit reserves served to
balance this.
Purchased intangible assets have been counted as purchase
expenses, reduced in line with planned linear depreciation.
Tangible assets have been assessed based on purchase or production
cost, reduced in accordance with both planned depreciation
over their respective normal operational lifetimes and unplanned
2b Holdings not incorporated in the consolidated financial statement
2c FHG Shareholdings
depreciation. Assignments were made where the basis for unplanned
depreciation no longer existed. In the course of the tax-free transfer
of reserves in accordance with §163(1) of the Transfer Regulations
(Abgabeordnung) in previous years, entries in the FHG (non-Group)
financial statement were depreciated according to §254 of the German
Commercial Code, in the edition valid until 28 May, 2009.
Economic goods of low value, acquired for up to €150, are treated
as immediate expenses; assets costing between €150 and €1,000 are
summarised in a single annual entry and subjected to linear depreciation
over a 5 year period.
Shares in associated companies are listed as purchase costs in
the individual financial statements, reduced where necessary in line
with unplanned depreciation.
The valuation of raw materials, fuels and supplies is based on the
lower value of average cost price and minimum current market price.
Unfinished products listed in the Group financial statement are
valued at purchase or production price.
Moneys owed are balanced at nominal value; other assets are
Name and registered office of company Subscribed capital or Share Share
capital invested by of in
limited partners in €’000 company percent
SecuServe Aviation Security and Services Holding
International GmbH, Hamburg (SecuServe Holding)
250 FHG 100
Grundstücksgesellschaft Kaltenkirchen mbH & Co. KG, Hamburg (Kaki KG) 100 FHG 100
STARS Berlin GmbH, Schönefeld (STARS Berlin) 75 STARS KG 51
Aerotronic-Aviation Electronic Service GmbH, Hamburg (Aerotronic) 26 CATS KG 100
GAC German Airport Consulting GmbH, Hamburg (GAC) 26 FHG 100
C.A.T.S. Verwaltungs-GmbH, Hamburg (CATS Verwaltung) 25 CATS KG 100
CSP Commercial Services Partner GmbH, Hamburg (CSP) 25 FHG 100
Grundstücksgesellschaft Kaltenkirchen Verwaltungs-GmbH,
Hamburg (Kaki Verwaltung)
25 FHG 100
GroundSTARS Verwaltungs GmbH, Hamburg (GroundSTARS Verwaltung) 25 FHG 100
S.A.E.M.S. Verwaltungs-GmbH, Hamburg (SAEMS Verwaltung) 25 SAEMS KG 100
S.T.A.R.S. Verwaltungs-GmbH, Hamburg (STARS Verwaltung) 25 STARS KG 100
Name and registered office of company Book value of Company’s equity FHG
shareholding capital shareholding
31.12.2009 in €’000 31.12.2008 in €’000 in percent
AHS Aviation Handling Services GmbH, Hamburg (AHS Holding) 2,245 3,532 32.25
AHS Hamburg Aviation Handling Services GmbH, Hamburg (AHS Hamburg) 346 1,108 49,00