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

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Introduction Company profile and strategyService portfolio Communication and social responsibilityFor FMG, sustainability is nothing new. Helping ourem ployees and leaders to grow and be their best,and engaging with our neighboring communities andsur rounding region have always been of immenseimpor tance to us. We have also sought actively topro tect the environment for many years now, as ex -emplified by our decision in 2008 to aim for carbonneutralgrowth.Our subsidiaries share the same commitment.Allresto, for instance, sources around 90 percent ofits produce with suppliers in Bavaria. Accredited underthe Eco-Management and Audit Scheme, the com -pany goes to considerable lengths to preserve re -sour ces when processing foods and to ensure thatits practices in areas like logistics and cleaning aresustainable. Allresto is certified organic, too, whichmeans that it is authorized under EU regulations toproduce organic foods, which it serves at the BistroOrganic restaurant in Terminal 2. The company’s stat -ed aim is to be the most attractive, efficient and sustainablehospitality operator in the transport sector inEurope.Economic and industry environmentGlobal economic growth faltered slightly in 2011, slip -ping to 3.8 percent, from 5.2 percent in 2010. Negativefactors included a significant rise in raw materialprices in the first six months and the severe earthquakein Japan in March 2011. As the effects of theseshorter-term negatives eased, the global economybriefly looked more robust moving into the thirdquarter, before renewed problems in the Eurozoneagain curbed growth, and even emerging economiesbegan to slow.The U.S. economy, the world’s largest, recoveredsomewhat as the year progressed, and by the fourthquarter annual GDP growth had hit 2.8 percentaccording to the Department of Commerce – thehighest it had been since early 2010. In the end,though, this was only enough for a 1.7 percent in -crease overall in 2011.Emerging economies, too, cooled markedly over thecourse of 2011, as exports slowed. At the same time,sev eral countries tightened economic policy in an effortto counteract inflationary pressures. This is whya number of central banks raised interest rates andminimum reserves and, in some cases, resortedto unconventional approaches to slow the influx ofcapital. Against this backdrop, China’s economy lostpace, growing 9.2 percent over the year as a whole,compared to 10.3 percent a year earlier.Growth in the Eurozone in 2011 was affected significantlyby the mounting sovereign debt crisis. After asolid enough start to the year, the economy cooledoff noticeably. Besides the debt crisis, increasinglyrestrictive fiscal policy stalled domestic economicactivity. Without Germany, economic growth in theEurozone would have come to a complete standstillby the third quarter of 2011; over the year as a whole,though, it did manage to reach 1.6 percent.Exceptional gains at Munich AirportGermany’s economy may not have succeeded inbucking the wider global trend entirely, but thecountry’s domestic product nonetheless expandedsharply once again, driven by strong domestic demandas well as exports.During 2011, airports in Germany logged almost200 million passenger movements – some 5 percentmore than a year earlier.114
Workforce and work environmentEnvironmental and climate protectionFinancial reviewSustainable developmentP Supervisory board’s reportq Consolidated management reportp Consolidated financial statementsp Independent auditor’s reportAfter 2009 and 2010, two crisis years during whichthe aviation industry weathered transient collapsestriggered not just by the global credit crunch but alsoby events like the volcanic ash cloud, 2011 saw theindustry return to solid growth. However, as a glanceat the figures for a number of airports reveals, trafficgains varied by huge margins from one to the next.Although passenger numbers at two-thirds of Ger -many’s airports were either flat or in decline and air -craft movements at several were also lower, Munichcan look back on a strong year with swift trafficgrowth, during which the passenger volume rose8.8 percent – the highest gain at any airport in Germany– to reach roughly 38 million.In the cargo sector, too, growth was robust, with thetotal freight and mail volume handled increasing by5.9 percent to hit a new all-time high of more than303,655 metric tons.The number of takeoff and landing operations wasup by around 20,000 or 5.1 percent on the prior year,almost reaching 410,000 and just 5.0 percent underthe record highs we posted in 2007 and 2008.In contrast to so many other airports – and in spite ofthe wider adverse conditions within the aviation in -dustry – Munich can report such strong results thanksto the growth fueled by its expanding role as a keyhub airport. This is reflected in a steady rise since themid-1990s in the number of transfer passengers as aproportion of our overall passenger volume. In 2010,transfers accounted for around 37.0 percent of allpassengers at Munich Airport, but by the end of 2011this figure had increased to 40.0 percent.A glance at the rankings of the ten busiest passengerairports in Europe reveals that Munich continuesto compete successfully against other major aviationhubs. Thanks to our exceptional growth, we nowrank sixth for the first time among Europe’s top tenairports, based on the key metric of passenger num -bers; ranked on aircraft movements, Munich has al -ready been number six for several years now.Business trends and earningsFor the FMG Group, 2011 was its most successfulbusiness year ever. After the global financial andeconomic crisis of recent years, Munich Airport sawa return to robust traffic growth much sooner thananticipated. Our passenger volume grew significantlyfaster than the average rate recorded at other airportsin Germany and elsewhere in Europe in 2011,rising 8.8 percent year on year to roughly 38 million.The sharp increase in passenger movements is, how -ever, due in part to the low baseline set by the prioryear, with the first two quarters of 2010 beset bysuch factors as an extreme winter, the volcanic ashcloud, and a strike by airline pilots, which togethercurbed passenger traffic significantly. However, inspite of these events, two successive quarters ofswift gains in the latter half of 2010 saw passengernumbers eventually break through our previous alltimehigh. This makes our Q4 passenger growth in2011 – 5.0 percent on the busy last quarter in 2010 –all the more remarkable.With a gain of more than 11.0 percent, continentaltraffic, more than any other segment, pushed ourpassenger numbers higher in 2011. Hub traffic todestinations in Europe, in particular, increased,prompting carriers to operate aircraft with higherseat capacities.115
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EconomyCargo volumeup 5.9%to more t
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Environment60%65%of aircraft deicer
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PublisherFlughafen München GmbHP.O
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