"Perspectives 2011" - Sustainability and Annual Report (pdf)

Workforce and work environmentEnvironmental and climate protectionFinancial reviewq Supervisory board’s reportq Consolidated management reportp Consolidated financial statementsp Independent auditor’s reportSustainable developmentConsolidated management report for 2011The object of the Flughafen München Group is tooperate Munich Airport and to pursue ancillary linesof business. The FMG Group comprises FlughafenMünchen GmbH, 17 subsidiaries and special purposeentities, and two associated companies. In fiscal 2011,the company MUCGround Services Flughafen MünchenGmbH, Freising, was merged into AeroGroundFlughafen München GmbH, Munich. Moreover, as of2011, MediCare Flughafen München MedizinischesZentrum GmbH, Oberding, is no longer a subsidiarybut is included in the Group’s consolidated financialstatements as an associated company. This changedoes not have a material effect on the consolidatedfinancial statements.Activities and organizational structureFlughafen München GmbH runs Munich Airport,which began operating at its current location in Er -dinger Moos in 1992. To service air traffic, MunichAirport has two modern, highly efficient terminalsand two runways, both 4,000 meters long and capableof operating independently. Besides its aviationand ground handling activities, Flughafen MünchenGmbH also engages in a range of non-aviation businessactivities, primarily real estate management andde velopment and retail operations, the latter includinghospitality and parking services.Flughafen München GmbH is organized functionallyin central, business and support divisions. The busi -ness divisions operate and generate revenues independentlywithin their respective markets, whereasthe support divisions primarily operate internallyand provide the business divisions with professionalexpertise and specialized services. The central divisionsare responsible for the overall management ofthe airport.A landmark change in FMG Group policy came in2011 with the successful restructuring of our formerGround Handling division. The high losses recordedin the ground services segment since the market wasthrown open to competing, private ramp-handlingoperators have been a major burden on the Groupin recent years. By carving out our ground handlingbusiness into a wholly owned subsidiary with a com -petitive pay-scale structure, we created the right conditionsfor a successful turnaround in this segment.Strategy and sustainabilityMunich Airport ranks as one of Europe’s foremostaviation hubs. The FMG Group’s success as an enterpriseis the result of its ability to operate efficiently,to maintain business momentum and to focus firmlyon profitable growth.Munich Airport is committed to pursuing a sustainablebusiness strategy that strikes a successful balancebetween key economic, environmental and socialobjectives. Group corporate policy sets out to maintainand strengthen the foundations of the Group’sbusiness in the longer term in such a way that, goingforward, it can continue to operate successfully andsafeguard both public mobility and Bavaria’s locationalappeal.At FMG, we firmly believe that sustainable businesspractices help safeguard steadier and more consistentgrowth and make an organization more competitivein the longer term. We are therefore committed tosustainability, as reflected by our mission statement:“By 2015 we will be one of the most attractive, ef -ficient and sustainable hub airports in the world.”113