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

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Introduction Company profile and strategyService portfolio Communication and social responsibilityOn the negative side, the events of the Arab Springimpacted substantially on traffic to and from thecountries affected, but not on overall traffic growth atMunich Airport. Flights to and from Egypt saw pas -senger numbers drop by one-fifth due to the country’spolitical upheavals, and traffic to and from Tunisia wasdown a quarter. However, these drops were morethan offset by gains on routes to alternative traveldestinations, with services to Turkey alone logging212,000 additional passengers – almost twice thenumber by which passengers on flights to and fromEgypt and Tunisia declined.On intercontinental routes, the passenger volumegrew by almost 7 percent. Routes to and from Africawere the only ones on which passenger numberswere down on the prior year, and this was due tofewer services being offered to two holiday destinations,Mauritius and the Cape Verde Islands. By con -trast, passenger numbers on routes to and from Asiaincreased sharply.On transatlantic routes, passenger trends differed,with marked gains on services to Canada and Brazilbut declines on flights to tourist destinations inMexico, Cuba and the Dominican Republic.A key reason for our rising numbers of passengerand aircraft movements are changes in fleet policyby air lines serving Munich, most notably DeutscheLuft hansa. Because Munich Airport has been a solidgrowth market in recent years, Lufthansa has boostedcapacity significantly here, mainly by operating jetswith higher seat capacities rather than by steppingup frequencies on its routes.Our earnings in 2011 reflect the traffic boom at MunichAirport during the course of the year.SalesGroup sales in fiscal 2011 totaled €1.150 billion (2010:€1.081 billion), rising 6.4 percent overall in the aviationand non-aviation sectors thanks to the growth in traf -fic and passenger numbers. The changes in Groupsales and earnings are reviewed below, in the sectiontitled “Group business activities.”ExpensesCosts of raw materials and supplies in fiscal 2011grew less rapidly, by 1.8 percent, or €5.292 million,to €294.813 million.Year on year, the rise in personnel expenses wasmarginal, just 0.4 percent or €1.113 million, to€308.124 million. This was the result of natural wastageand structural changes in the ground handlingsector.Significant other operating expense and interest accountedfor €292.620 million (2010: €350.544 million)or 27.9 percent (2010: 31.8 percent) of the Group’stotal pre-tax costs. This represents a 3.9 percentdecrease on the prior year and is due both to anincrease in other operating expense in 2010, from€98.228 million to €182.077 million, and to a dropin 2011 in the interest paid to shareholders, to€15.948 million from €151.982 million a year earlier.During 2010, all contractually owed interest fromprior years was paid to shareholders.Depreciation, amortization and impairmentsacross the Group totaled €154.398 million (2010:€155.584 million).116
Workforce and work environmentEnvironmental and climate protectionFinancial reviewSustainable developmentP Supervisory board’s reportq Consolidated management reportp Consolidated financial statementsp Independent auditor’s reportThe FMG Group generated a net profit of€186.543 million in fiscal 2011 (2010: €19.765 million).The year-on-year increase in profit is mainly theresult of lower interest expense compared to 2010.Group business activitiesThe FMG Group consists of separate profit centersthat are assigned organizationally either to businessdivisions – Aviation (including handling services),Consumer Activities, and Corporate Real EstateManagement and Development – or to central orsupport divisions.AviationOur Aviation division is responsible for the safe andorderly handling of air traffic within the bounds of theairport. As of January 1, 2011, Flughafen MünchenGmbH provides airside handling services through asubsidiary, AeroGround Flughafen München GmbH,Munich. AeroGround Flughafen München GmbH’sorganizational structure is aligned specifically to theneeds of customer airlines using Terminals 1 and 2.The Aviation division contributed 52.3 percent ofGroup sales. Thanks to the growth in air traffic, thedivision’s earnings grew 6.0 percent, or €34.023 million,year on year, to €601.399 million.Non-aviation: Consumer Activities andCorporate Real Estate Management andDevelopmentOur Consumer Activities division’s roles include devel -oping, marketing and managing the airport’s retail andhospitality offerings, and selling advertising space atMunich Airport. It is also responsible for our Parkingand Services business, which comprises on-siteparking and a range of innovative parking-relatedservices.One of the mainstays of our non-aviation business iseurotrade Flughafen München HandelsgesellschaftmbH, Munich. This is a subsidiary which markets aselect range of premium national and internationalgoods, tailored carefully to the requirements of itsairport customer base. Its focus is on respondingquickly and flexibly to continuously changing customerneeds and expectations.Allresto Flughafen München Hotel und GaststättenGmbH, Munich, runs the public restaurants and otherhospitality operations in the public areas and secureareas of the airport; it is also responsible for the em -ployee restaurants on campus and for the airporthotel managed by the Kempinski Group.Our Corporate Real Estate Management and Devel -op ment division develops, markets and managescompany-owned buildings and other facilities in linewith market needs. Besides the airport’s own infra -structure, the real estate under management includesbuildings outside the airport itself, plots of land ac -quired to permit future expansion, and compensatorymitigation sites created to restore the ecologicalbalance.Like our aviation business, our non-aviation businessperformed well, with sales growing 6.9 percent, or€35.524 million year on year, to €549.242 million, toprovide 47.7 percent of Group earnings.The higher sales volumes in the aviation and nonaviationsectors are both due to our rapid passengergrowth in 2011.117
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EconomyCargo volumeup 5.9%to more t
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Environment60%65%of aircraft deicer
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Social equityPeople fromaround 50na
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PublisherFlughafen München GmbHP.O
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