Annual Report 2009

Transcription

Annual Report 2009

Moving the world
Annual Report 2009
Business figures
Financials
FMG Group
Group sales and earnings (€ million)
2009
2008
2009 / 2008
Group sales
981.3
1,043.7
- 6.0 %
EBITDA 1) 2)
353.8
346.1
2.2 %
EBIT 1) 2)
Group net income 2) 3)
214.1
92.9
204.1
78.8
4.9 %
17.8 %
Group profitability indicators (%)
2009
2008
2009 / 2008
EBITDA margin 1) 2)
36.1
33.2
8.7 %
EBIT margin 1) 2)
ROCE 1) 2)
21.8
7.2
19.6
6.6
11.6 %
9.1 %
2008
2009 / 2008
1) EBITDA excl. building lease expense of €44 million in 2009 (2008: €44 million), EBIT excl. leasing interest
2) Earnings excl. accruals of €84 million for Ground Handling (2008: €31 million)
3) Group net income excl. interest on shareholder loans of €10 million (2008: €44 million), not taking into account tax effects
Consolidated balance-sheet and
cash flow statement items (€ million)
2009
Cash flow from operations
165.0
214.5
- 23.1 %
Investments
90.5
120.4
- 24.8 %
Depreciation
124.9
124.4
0.4 %
Balance-sheet total
2,951.1
2,964.5
- 0.5 %
Fixed assets
Equity
2,789.5
442.1
2,827.5
443.6
- 1.3 %
- 0.3 %
Personnel
2009
2008
2009 / 2008
Personnel costs (€ million)
309.3
314.1
- 1.5 %
Employees (average for year)
7,317
7,609
- 3.8 %
2009
2008
Aviation sales
52
53
Non-aviation sales
48
47
Aviation/non-aviation sales
Ten-year overviews
Commercial passenger movements 2000 – 2009
Passengers (millions)
34.0
36
34.5
10.4 %
1.7 %
28.6
26.8
28
23.1
24
8.7 %*
23.6
23.2
2.3 %
- 2.0 %
2001
2002
24.2
2007
2008
431,815
432,296
5.0 %
0.1 %
32.7
- 5.4 %
30.8
32
7.5 %
6.7 %
10.8 %
4.4 %
20
16
12
8
4
0
2000
2003
2004
2005
2006
2009
* Percentage change on prior year
Total aircraft movements 2000 – 2009
Takeoffs and landings
450,000
383,110
400,000
350,000
319,009
6.7 %*
337,653
5.8 %
344,405
2.0 %
355,602
7.7 %
398,383
4.1 %
411,335
3.1 %
396,805
- 8.2 %
3.3 %
300,000
250,000
200,000
150,000
100,000
50,000
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Ten-year overviews
Cargo 2000 – 2009
Flown air freight and air mail (tons)
265,607
270,000
11.6 %
238,075
240,000
218,049
192,167
210,000
180,000
150,000
148,018
145,940
7.6 %*
- 1.4 %
2000
2001
166,884
162,545
14.4 %
- 2.6 %
2002
2003
259,645
- 2.2 %
229,095
9.2 %
- 11.8 %
13.5 %
18.2 %
120,000
90,000
60,000
30,000
0
2004
2005
2006
2007
2008
2009
Maximum takeoff mass (MTOM) in all traffic segments 2000 – 2009
MTOM (millions of tons)
16
13.2
14
12
10
9.3
9.7
5.3 %*
4.3 %
9.4
- 3.2 %
9.5
1.8 %
10.7
11.3
12.0
6.2 %
6.5 %
2005
2006
9.6 %
13.8
4.3 %
13.0
- 5.3 %
11.6 %
8
6
4
2
0
2000
2001
2002
2003
2004
2007
2008
2009
Ten-year overviews
Commercial workload units 2000 – 2009
Workload units (thousands)
45,000
40,000
33,061
35,000
30,684
28,588
30,000
25,000
24,417
24,943
24,628
8.9 %*
2.2 %
- 1.3 %
2000
2001
2002
25,639
36,549
37,072
10.6 %
1.4 %
34,920
- 5.8 %
7.7 %
7.3 %
11.5 %
4.1 %
20,000
15,000
10,000
5,000
0
2003
2004
2005
2006
2007
2008
2009
Workload units are a unit of measure used to record commercial passenger and goods traffic volumes. One workload unit comprises one passenger with hand luggage
(together, roughly 100 kg) flying into or out of an airport, or 100 kg of cargo or air mail handled, or a combination of passengers (arrivals and departures) and local cargo
and air mail (unloaded and loaded).
Transfer passenger growth 2000 – 2009
Transfers as a percentage of departing passengers
40
35
30
27
29
31
31
2002
2003
33
34
34
2005
2006
35
36
37
25
20
15
10
5
0
2000
2001
2004
2007
2008
2009
Traffic figures
Air traffic
2009
2008
2009 / 2008
Passenger movements (total)
32,701,759
34,552,189
- 5.4 %
-Commercial traffic
32,681,067
34,530,593
- 5.4 %
-Scheduled and charter traffic
32,657,300
34,501,806
- 5.3 %
71.5
72.8
- 1.3 PP
Aircraft movements (total)
396,805
432,296
- 8.2 %
-Commercial traffic
386,558
420,866
- 8.2 %
-Scheduled and charter traffic
376,770
408,292
- 7.7 %
229,095
259,645
- 11.8 %
13,034,666
13,768,050
- 5.3 %
Load factor (%)
Cargo handled
Flown air freight and air mail (t)
Maximum takeoff mass (MTOM)
in commercial and non-commercial traffic (t)
Munich in comparison
Traffic figures for German airports in 2009 (commercial traffic)
Passengers
(in + out + transit)
Aircraft
movements
Cargo - air freight
and air mail (t)
Frankfurt/Main
50,932,840
457,868
1,887,717
Munich
32,681,067
386,558
229,095
Berlin (total)
20,977,395
215,493
25,180
Düsseldorf
17,793,493
209,205
65,331
Hamburg
12,229,319
137,449
31,584
Cologne/Bonn
9,739,581
120,675
552,363
Stuttgart
8,934,493
125,486
24,276
Hanover
4,969,799
66,671
11,397
Nuremberg
3,965,743
55,825
8,420
Hahn
3,793,710
36,937
107,956
Bremen
2,448,851
35,901
731
Leipzig/Halle
2,410,812
55,762
507,195
Weeze
2,402,083
19,676
0
Dresden
1,718,923
27,225
481
Dortmund
1,716,516
24,043
21
Münster/Osnabrück
1,382,069
28,873
269
Karlsruhe/Baden-Baden
1,087,909
26,184
777
Paderborn/Lippstadt
983,706
25,921
29
Lübeck
688,302
10,274
0
Friedrichshafen
578,484
13,494
1
Saarbrücken
469,933
12,597
83
270,267
182,175,295
7,403
2,099,520
1,491
3,454,397
Ranking
Passengers
(million)
2009/2008
Erfurt
Total
Passenger figures for Europe’s top ten airports in 2009 (commercial traffic)
London Heathrow
1
66.0
- 1.5 %
Paris Charles de Gaulle
2
57.9
- 4.9 %
Frankfurt/Main
3
50.9
- 4.7 %
Madrid
4
48.2
- 5.1 %
Amsterdam
5
43.6
- 8.1 %
Rome Fiumicino
6
33.7
- 4.0 %
Munich
7
32.7
- 5.4 %
London Gatwick
8
32.4
- 5.3 %
Istanbul Atatürk
Barcelona
9
10
29.9
27.3
+ 4.3 %
- 9.7 %
Moving the world. As Europe’s most attractive
hub airport, our role is to give individuals, businesses and markets the mobility they need in
order to successfully meet today’s and tomorrow’s challenges. Where we stand out is through
the speed and efficiency of our processes, our
exceptional retail and hospitality base and, above
all, our friendly and professional service. Our aim
now is to make Munich Airport one of the most
appealing, efficient and sustainable aviation hubs
in the world.
Contents
2
Contents
Setting directions
FMG Group consolidated financial statements | 72 – 103
Grasping
opportunities
Interview | 14 – 15
Contents
3
Sharing knowledge
Highlights | 18 – 21
Safeguarding the future
About us | 50 – 69
Opening up markets
Business divisions | 24 – 47
Creating value
Management | 6 – 11
Munich
Cape Town
Creating value. The world’s cities – booming business capitals, international trade hubs and up-andcoming cultural centers – need reliable access to
transport networks. Because functioning infrastructure is crucial to enable ideas, innovations and free
enterprise to unfold their full potential.
CEO’s letter
Management
Management
6
CEO’s letter
In 2009, a six-year run of robust growth at Munich Airport came to an end, halted by the global financial and
economic crisis and an abrupt downturn in air traffic. During the course of the year, Bavaria’s international
aviation hub recorded 32.7 million passenger movements in total, 5 percent fewer than in 2008. The traffic
volume contracted particularly fast in the year’s first six months as demand for flights ebbed rapidly industry-wide, above all in the business travel segment. During the summer, however, the decline appeared to
bottom out; the first green shoots of recovery began to emerge as we moved into the latter half of the year;
and by the fourth quarter, Munich Airport had already seen an initial return to growth in passenger numbers
and cargo volumes.
One crucial factor that helped cushion the impact of the crisis in 2009 was our hub-and-spoke traffic at
Munich Airport. Although passenger movements overall were dropping, the number of transfer passengers
remained almost constant, year on year. As a result, the transfer volume in proportion to passenger traffic as
a whole increased by a percentage point to 37 percent. In addition, long-haul traffic, an exceptionally important segment for our airport, remained largely unaffected by cutbacks, and we even saw a respectable gain
of 6.2 percent in the number of passengers on flights to and from Asia.
In the cross-border arena, we continued to compete successfully with rival aviation hubs and retained our
number seven ranking among Europe’s busiest passenger airports. Today, thanks to the recovering economy
and a noticeable acceleration in demand in the aviation sector, we expect to see a return to robust traffic
growth in Munich during 2010.
From a business perspective, Munich Airport put in a solid performance in fiscal 2009. We posted a profit of
€105 million for the year – significantly more than a year earlier – and total revenue across the whole of the
FMG Group exceeded the billion euro mark once again.
In light of the improving overall economic situation and the global increase in demand for mobility, promising
growth opportunities are emerging for international aviation. Munich Airport, with its highly evolved traffic
structure and its demand-driven strategic expansion plans, is ideally placed to share in this growth. Today,
we already offer flights to more destinations in Europe than any other airport, and our intercontinental traffic
has burgeoned in recent years. Carriers operating out of our hub currently offer 260 long-haul flights a week
to attractive destinations all over the world and are serving major cities like Singapore, Tokyo and New York
with several flights a day. The efficient access that we as an airport provide to the aviation networks spanning the globe, plus the quality of experience we offer airport users through our outstanding retail, hospitality and services base, have made Munich one of the most popular airports in the world. More than eight
million air travelers taking part in the 2009 World Airport Awards survey conducted by the London-based
aviation research organization Skytrax, chose Munich as one of the world’s five best airports for the fifth year
in succession.
Management
CEO’s letter
7
For every member of our workforce, regardless of rank or role, the recognition accorded to us through
such an outstanding rating is a powerful incentive, not just to remain strongly competitive going forward,
but to keep trying to best ourselves. We plan to continue developing Munich Airport in line with demand –
to create value and jobs and to ensure that Munich and Bavaria retain their strong appeal as a location. This
is why our plans to build the airport’s third runway have maximum priority. We’ve already reached a point
where our existing two-runway system is insufficient to serve aviation’s current needs. For the most part,
we’re no longer in a position to accommodate airlines’ requests for additional departure and arrival slots,
irrespective of the time of day.
We need a highly capable and efficient airport infrastructure in place if we are to make the most of the opportunities emerging for us as the world’s business regions and cultures forge ever stronger ties. Building the
third runway as planned will boost our capacity to schedule takeoffs and landings from around 90 movements an hour to 120. We also intend to expand Terminal 2’s passenger handling capacity by constructing
a satellite, complete with an underground people moving system connecting it to the terminal building.
These strategic additions to our on-site infrastructure will equip Munich Airport to handle the growth in traffic anticipated by aviation experts. Their most recent forecasts predict that our annual passenger volume in
Munich will increase to around 58 million by 2025.
As our airport grows, so do our responsibilities as an airport operator, not least toward the environment.
This is why we’ve set ourselves the challenging target of achieving carbon-neutral growth by 2020. In addition, as part of our sustainability strategy, we’re rolling out a raft of measures designed to significantly
improve our energy efficiency – measures that we hope will serve as a model for the whole of our industry.
Our aim is to enable people and goods to move around the world more efficiently. And to accomplish that,
we will mobilize all our professional expertise, new and innovative technologies, and our dedicated and
highly qualified workforce.
Dr. Michael Kerkloh
President and Chief Executive Officer
Flughafen München GmbH
Group structure
8
Management
Group structure
Finance and Controlling
Human Resources
Corporate Communications
Central divisions
Legal Affairs and Security
Corporate Development and Environment
Business divisions
Aviation
Corporate Real
Estate Management
and Development
Retail and
Services
Ground
Handling
Terminal 2
Engineering and Facilities
Information Technology
Support divisions
Corporate Services
Security
Planning and Construction
Flughafen München GmbH’s group structure organizes company functions into strategic business divisions, support divisions, and overarching central
divisions.
Whereas the business divisions operate independently within their markets, the support divisions
primarily operate internally and provide the business
divisions with professional expertise and specialized
services. The central divisions are responsible for the
overall control of the FMG Group of companies.
Flughafen München GmbH (FMG) shareholders
City of Munich
23%
Free State of Bavaria
51%
Federal Republic of Germany
26%
Executive board
Walter Vill
Dr. Michael Kerkloh
Thomas Weyer
Vice President and
Chief Financial Officer
President and Chief Executive Officer
Personnel Industrial Relations Director
Chief Operating Officer
Management team
10
Management
Management team
Rainer Beeck
Director
Senior Vice President Corporate Real Estate Management
and Development
Florian Fischer
Director
Senior Vice President
Terminal 2
Siegfried Pasler
Ground Handling
Andreas von Puttkamer
Director
Senior Vice President Aviation
Dr. Karl Heinz Schwarzmeier
Director
Retail and Services
Johann Bernhard
Director
Engineering and Facilities
Michael Ferchland
Planning and Construction
(from May 1, 2009)
Thomas Scheidler
Director
Corporate Services
(until December 21, 2009)
Management
Management team
11
Gerhard Wirth
Security
Michael Zaddach
Information Technology
Dr. Deniz Akitürk
Human Resources
Hans-Joachim Bues
Josef-Heinz Loichinger
Director (from August 1, 2009)
Thomas Ross
Director
Legal Affairs and Security
Gertrud Seidenspinner
Corporate Development and
Environment
(from January 1, 2009)
Dr. Brigitte Englert
Director
Corporate Representative for
Government Affairs
Munich
Puerto Plata
Grasping opportunities. For us, connecting
people with their dream destinations is more
than just a duty, it’s a pleasure. We provide outstanding links by air to the world’s vacation spots
and welcome travelers from all over the globe
who come to visit Munich and Bavaria, one of
Europe’s most popular holiday regions.
A flagship location for our company
Interview
Interview
14
Interview with Erich Sixt, Chairman of the
Managing Board of Sixt AG
With almost 1,900 stations in roughly a hundred
countries and more than 500 in Germany alone, Sixt
AG is Germany’s largest car rental company. Sixt has
been at Munich Airport since 1977, when it was still
in Riem. Erich Sixt, how important is Munich Airport
as a location for your company?
Sixt: For us, Munich Airport is a flagship location.
The station we had in Riem was one of the very first
we opened at an airport. Today, we lead the market
in Germany, especially at the country’s airports,
where in some cases our market share is as high as
40 percent. It would be fair to say that the success
of Sixt’s airport stations began in Munich. I’d also
add that Munich is our home airport: We’re a Munich
company and we’re proud of our roots. So it’s almost
a matter of pride for us that Munich is our biggest
airport station in Germany – and rightly so when
you look at our figures: Munich generates the highest revenue of all our airport stations, and that, of
course, is a big point in its favor.
We have six car rental companies at Munich Airport
at present, and customers’ ratings of our car rental
center are consistently high. This is partly because
it’s new location in the München Airport Center
means it’s right in the middle of our passenger
handling area. How do you find the new location in
terms of processes and procedures?
Sixt: The big advantage of the car rental center is
that the majority of passenger and visitor streams
from Terminal 1 and 2 pass by it. This means large
numbers of people see our distinctive orange and
black brand color scheme, and we can only gain
from a strong location like this. In addition, we were
allowed to design our counter to our own wishes
and specifications. That also helped us to mount a
presence that reflects what we as a company stand
for – the “spirit of mobility.” This freedom to create
our own design is something we truly appreciate.
In addition, we’re keen innovators, and the location
encouraged and inspired us to introduce a number
of important innovations. One example is that we
now use a chip-based RFID system to manage our
vehicles; this means we can always locate the right
sets of keys, even at a distance. In the car rental
business, innovations are generally rolled out first
at big, busy stations like Munich Airport. We’ve also
grouped our parking spaces according to customer
segments. For instance, this means that frequent
customers’ cars are parked close to the counter area.
Sixt Diamond customers can even pick up their cars
in a separate lounge. These examples, I think, underscore both the quality of our services at Munich Airport and how important the location is for us.
In 2009, your company had a workforce of around
3,000 people worldwide, including 2,000 in Germany. How many work at your Munich Airport
location?
Sixt: We employ around 100 people at Munich Airport. They’re completely committed to giving our
customers the best possible service, and they understand that this is a high-profile location with an international clientele where they are ambassadors for
our company. In my view, they’re doing a terrific job.
The difficult overall economic situation led to a drop
in the number of passengers at Munich Airport in
2009. In the year’s final quarter, though, we saw
initial signs of a recovery. Was the pattern much the
same in the car rental sector, and were you affected
by the particularly sharp decline in business travel?
Sixt: No. In 2009 demand remained steady and
consistently high. Clearly, we noticed companies
were cutting business travel budgets, but we were
able to compensate for the decline with new business
and highly attractive special offers. Another factor
that helped us was the strength of the Sixt brand:
We have a positive image, and we’re a name that
85 percent of people in Germany recognize.
Interview
15
Airports have long since advanced to become much
more than pieces of transport infrastructure. Munich
Airport in particular has developed its non-aviation
activities enormously. How do you regard the nonaviation business at Munich Airport?
Sixt: I have to admit that I’m far more interested in
cars than I am in shopping. However, when I visit
the airport, I do notice the large numbers of people
in the stores, supermarkets, bars and restaurants.
Especially at weekends, when there’s a large influx
of locals who aren’t flying but just want to browse
the stores and have a bite to eat, it’s as if I’m not at
an airport at all but in a busy shopping concourse.
Obviously, though, that’s good for Sixt.
developing constantly, and we’re keeping pace with
it. We plan to continue investing in the intermediate
term and intend expanding our logistics at the airport.
At Munich Airport, Sixt does more than just hire out
cars, your company also runs prominent ad campaigns and promotes new products here. What are
the airport’s advantages as a location?
Sixt: For a service business like Sixt, advertising
and marketing are key success factors. In my view,
Sustainability is a key concern for FMG and today
though, our ad campaigns at Munich Airport have
plays a central role in our corporate strategy. Sixt,
become something of an art in their own right.
too, is committed to corporate social responsibilThey’re typically highly conspicuous, spectacular
ity. Do you offer customers environment-friendly
and, at times, provocative. Take the car made out of
vehicles for hire?
bones in the plaza, for example: We built a vehicle
in the form a dinosaur skeleton and paired it with
Sixt: In keeping with our reputation as an innovator
in car rentals, the majority of the vehicles we hire
the slogan “Thanks to Sixt, expensive rental cars
out are equipped with fuel-efficient engines. They
are extinct.” Another big eye-catcher, on the way to
include cars featuring automakers’ latest advances,
the multistory parking garage, was a car that looked
such as BMW’s EfficientDynamics, Mercedes-Benz’s as if it had been driven through a wall. The slogan
Blue Efficiency, VW’s Blue Motion, smart mhd, and
underneath it read “Sixt also has cars with parking
assistance.” We cut a Polo in half specially for the ad.
numerous others. Our fleet is a leader in terms of
its performance-to-consumption ratio. These modern We’re also famous for our giant posters in the P20
engines save our customers – both business and pri- multistory. As you can imagine, we get a lot of fun
out of coming up with new eye-catchers, working
vate – money at the pumps. And an economical car
is an eco-friendly car.
with the airport to develop the ideas, and running
these ads in this unique architectural environment.
You say your company is currently expanding. That’s
But it’s also about business, of course: Munich
something we’ve noticed at Munich Airport …
Airport is an important hub for business travelers,
Sixt: Yes, that’s right. In the summer of 2010, we
our number one target group. Every day, countless
invested in upgrading and expanding our station.
decision-makers from all over the world pass through
We improved our counter again, even though it was
the airport, and I hope that we succeed in making a
already state-of-the-art, and we created a more exten- lasting impression on them.
sive area with flat screens, quick check-in machines
and other advanced technology. Munich Airport is
Munich
Stockholm
Sharing knowledge. Smart networks learn and
adapt to changing circumstances. The hubs that
drive them work like a brain’s synapses, choosing
smarter connections – to move cargo tonnage and
millions of passengers efficiently, to transfer knowledge swiftly, and to expedite global communication.
The year in review
Highlights
Highlights
18
The year in review
March 16, 2009
Local energy utility company Stadtwerke München installs biogas and natural gas refueling
points at the Agip filling station on Munich
Airport’s Nordallee. Owners of gas-powered
automobiles can now fill up with an ecofriendly mix of bio-methane and natural gas
at the station’s refueling points. The station,
currently one of a kind at an airport in Germany, underscores Flughafen München
GmbH’s commitment to sustainability and
environmental protection.
January 15, 2009
Terminal 2’s new rooftop passageway opens.
Roughly 1,000 meters long, the glass passage
added to the roof of the terminal building was
built to enable the systematic separation of
passenger streams at Munich Airport’s Terminal 2. The new structure was necessary in
order to fulfill a European Union directive
requiring member states’ airports to segregate departing passengers from incoming
passengers not screened to EU security
standards. The total costs of the remodeling
project ran to around €60 million.
March 29, 2009
Airlines in Munich react to the economic crisis
by operating fewer flights. With the start of
the new summer season, Munich Airport’s
timetable offers services to 49 long-haul, 160
continental and 20 domestic destinations – in
total, 229 airports in 70 different countries.
Airlines coordinated around 241,000 takeoffs
and landings for the summer, roughly 9 percent fewer than a year earlier. Deutsche Lufthansa operates a total of 20 flights a week
from Munich to New York’s John F. Kennedy
Airport. The carrier also begins flying four
times a week to Tel Aviv and expands its network of European routes once again. The
additions include a daily service to a brand
new destination, Lviv in western Ukraine.
April 2009
Flughafen München GmbH publishes its first
ever sponsorship report on its regional outreach and support program. For many years
now, the airport operating company has been
involved in various initiatives, including youth
sport sponsorships in the airport’s neighboring communities, and now supports more
than 20,000 young people in around 70 local
sports clubs. Other key areas of FMG’s sponsorship activities include support for educational institutions, social welfare organizations
and programs, and arts and cultural offerings
in the airport’s home region.
Highlights
The year in review
19
April 2009
Allresto Flughafen München Hotel und Gaststätten GmbH, a Flughafen München GmbH
subsidiary, is awarded an environmental certificate under the EU’s Eco Management and
Audit Scheme. Allresto runs around 40 hospitality operations at Munich Airport, including
the only organic bistro at an airport in Germany.
After Flughafen München GmbH and the
Kempinski Hotel Airport München, Allrestro
is the third company at the airport to be certified to both the ISO 14001 and EMAS environmental management standards.
April 22, 2009
Topping out ceremony for the new hotel at
Munich Airport: To meet growing demand for
on-site overnight accommodation, the airport
is building a new three-star-plus, mediumprice-segment hotel with more than 250
rooms. Novotel, a brand of the French hotel
group Accor, won the bid to construct the airport’s second on-campus hotel. The new
facility is scheduled to open in early 2010.
April 1, 2009
An energy-saving solar-powered air-conditioning system goes into service at the Munich
Airport cargo terminal. Used to cool the
employee canteen, the new system keeps
the room temperature at a constant 21 degrees
Celsius. When the canteen does not require
cooling, warm water from the system’s solar
collectors is used to heat the building and
its service water. The system avoids around
25 metric tons of carbon dioxide emissions
a year that conventional heating and air-conditioning would generate. This the first climate protection project of its kind to be
piloted at a European commercial airport.
May 27, 2009
Munich Airport launches a new web-based
service to help travelers plan journeys to and
from the airport. Passengers simply pick their
flight from the timetable on the airport’s web
portal. They are then shown the latest information on the flight plus two links – one to a
planner for people traveling by car, and one
to an information system for those traveling
on public transport. The information service
automatically allows for check-in times and
walks between terminals and the parking
garages, bus stops and train stations. The
system also displays a map showing the
optimum route on foot.
The year in review
Highlights
20
June 2009
Thanks to a new FMG environmental project,
the energy consumed by apron lighting can
be cut by roughly a quarter. A computer predicts the exact time a flight will land and, if
there is insufficient daylight, switches on the
lighting at the assigned parking position with
sufficient lead time. When the aircraft leaves
the parking position, the lighting is switched
off again automatically after a certain time.
The project is helping to save almost
980,000 kilowatt hours of power and around
570 tons of carbon emissions annually. If
necessary, apron controllers can intervene
and override the automatic control system.
October 12, 2009
Munich Airport’s operator, Flughafen München
GmbH, celebrates a major anniversary: Sixty
years ago, the Free State of Bavaria and its
capital, Munich, formed the original operating
company, Flughafen München-Riem Gesellschaft mbH. At startup, the company had 134
employees; today, around 30,000 people,
including 7,400 in the FMG Group, work for
550 organizations at the airport. In the year
the company was formed, the old airport in
Riem recorded a total of 28,970 passenger
movements; last year, the number exceeded
32.7 million. This means that the passenger
volume has increased more than a thousandfold over a 60-year period.
June 2009
In the 2009 World Airport Awards, Munich
Airport retains its number five ranking of a
year earlier to remain one of the world’s best
airports. Worldwide, only Seoul, Hong Kong,
Singapore and Zurich ranked higher. The
results were based on a survey of 8.6 million
passengers conducted by Skytrax, a Londonbased independent aviation research organization. In the categories Best International
Transit Airport and Best Immigration Service,
Munich ranked even higher, taking third place
among the more than 190 airports in the
survey.
October 14, 2009
At the 26th International German Project
Management Forum in Berlin, FMG receives
the prestigious German Project Excellence
Award for its outstanding implementation of
change processes within the company. Introduced in 1997, the award is bestowed by
Deutsche Gesellschaft für Projektmanagement (GPM), Germany’s foremost professional association in the field of project management. The project in question, Munich
Airport Project Management (Map), was
launched to establish a unified project management approach, company-wide.
October 25, 2009
Airlines coordinate around 154,000 take-offs
and landings at Munich Airport for the winter
season. The new timetable offers quick and
convenient nonstop flights to a total of 195
international cities, including 47 long-haul
destinations in Africa, the Americas and Asia.
Over the winter season, 90 carriers operate
services from Munich Airport to 220 destinations in 65 countries. One new highlight is a
service to Muscat, the capital of Oman,
operated by Oman Air, and Air Mauritius
makes a return to Munich with a service to
the vacation paradise in the Indian Ocean.
Highlights
The year in review
December 22, 2009
Flughafen München GmbH is honored with
the TOP Health Management Award 2009.
The award is bestowed on organizations in
recognition of their efforts to promote
employee health, performance and motivation. FMG was a winner in more than one
instance, achieving not just 94 percent of the
maximum possible score in the Health Management category, but also heading up the
Work Environment Experience category and
ranking among the leading companies in the
Special Award category for its exceptional
commitment to health management. In the
overall rankings, too, FMG won first place
along with the title of “Bavaria’s fittest company.” The award competition was held by
consultants TG Life Concept GmbH in association with Bavaria’s social welfare ministry
and Techniker Krankenkasse, a health insurance carrier.
November 2009
In its latest issue, Monocle, a well-known
London global affairs and travel magazine,
names Munich Airport as the best in Europe.
In a supplement titled The Monocle Travel
Top Fifty 2009 / 2010, a team of writers
report on their experiences with airlines,
airports, hotels and other travel-related
businesses around the world and summarize
their research findings in 50 categories.
Munich wins the Best Airport in Europe category. The writers are particularly impressed
by the airport’s hub connections, the quality
of the signage, and the architecture.
December 4, 2009
Flughafen München GmbH unveils its first
sustainability report. Titled Perspectives, the
110-page document details the company’s
concept for a sustainable corporate policy
that unites business with environmental and
societal goals. The report is prepared in accordance with binding guidelines issued by the
internationally respected Global Reporting Initiative (GRI) to encourage transparent and
comparable corporate reporting worldwide.
The GRI reviews sustainability reports according to a comprehensive catalog of criteria and
grades them on a range from A to C, depending on the reports’ scope and depth. Munich
Airport’s first such report scored an A – the
very first top rating awarded to a European
airport for its sustainability reporting.
December 16, 2009
Dr. Michael Kerkloh, Flughafen München
GmbH’s CEO, and Serirat Prasutanond, the
head of Bangkok’s Suvarnabhumi International Airport, seal a sister airport agreement.
FMG played a key role in the successful
launch of operations at Bangkok’s new airport
in 2006. Besides fostering greater collaboration between the two airports in areas like
technology, operations and media relations,
the agreement aims to increase air services
between Munich and Bangkok.
December 2009
Flughafen München GmbH’s specialists in
relocation logistics win a major new order:
The company’s experts will be in charge of
organizing the transfer logistics and managing trial operations at Berlin-Brandenburg
International, the German capital’s major
new airport. FMG’s specialists are regarded
as the world’s preeminent consultants in the
field of Operational Readiness and Airport
Transfer (ORAT).
21
Munich
Tokyo
Opening up markets. Cities are vibrant marketplaces. More than 35 million people live in the
greater Tokyo conurbation, the world’s largest metropolitan area. Our mission is to provide the kind
of rapid access to fast-growing population centers
that’s vital to our customers’ and partners’ success.
Business divisions
24
Aviation
Ground Handling
Corporate Real Estate Management
and Development
Retail and Services
Terminal 2
Business divisions
Aviation
Aviation
25
In spite of the global economic woes, we remained one of Europe’s
busiest passenger airports and continued to strengthen our role as
an aviation hub. International traffic scored significant gains, particularly on routes to and from the Middle East, and proved to be a
steadying factor as the year unfolded.
Hub operations expand in spite of the crisis
Munich Airport’s traffic figures for 2009 clearly reflect
the impact of the global financial and economic crisis
on the aviation sector. Just under 32.7 million passengers – around 5.4 percent fewer than in 2008 –
passed through Bavaria’s international aviation gateway last year. Even so, Munich was able to retain
its number seven position in the circle of Europe’s
leading airports, and continues to rank among the 30
busiest passenger airports worldwide.
In terms of Munich Airport’s role as a major European aviation hub, the crisis had little effect. On
the contrary: Transfer passengers accounted for 37
percent of Munich’s traffic, a percentage point higher
than a year earlier, so it would seem that the airport’s
position as an aviation hub had a generally stabilizing
effect on traffic growth.
Traffic figures for commercial airports in Germany
1992– 2009
Transfer passenger flows in 2009
Mean growth rate
MUC
ADV (German Airports Association)
excl. MUC
Domestic
< 1%
Domestic
17 %
10%
6.1%
5%
Munich Airport
4.4%
3.6%
18 %
0.8%
0%
Aircraft movements
(total traffic)
Passengers
(commercial traffic)
International
65 %
International
Hub traffic helped slow
the drop in passenger
numbers
Aviation
Business divisions
26
Gains on routes
to Africa, Asia and
the Middle East, in
particular
Signs of recovery at the end of 2009
The decline in passenger figures was due first and
foremost to a slackening in demand for business
travel. The change in the volume of business traffic is
doubtless due to the contraction in the economy and
attendant efforts by companies all over the world to
cut costs. By contrast, private demand for air travel
remained relatively stable.
The direct relationship between the wider economic
climate and the volume of air traffic was also clearly
evident as the year unfolded, with traffic growth
tracking changes in the economy quarter for quarter
and gradually returning toward positive territory:
Whereas in the first quarter figures were down by
9.6 percent, traffic growth at Munich Airport was already back to 1.2 percent in the final quarter of 2009.
Passenger growth by quarters in 2009
1.2%
0%
- 3.6%
- 5%
- 10%
- 9.6% *
Q1
- 9.3%
Q2
* Percentage change year on year
Source: Flughafen München GmbH
Q3
Q4
Carriers operating larger jets
The number of takeoffs and landings in 2009 slipped
by 8.2 percent to 396,805 in total. This decline in
aircraft movements was steeper than the drop in the
number of passengers because airline companies
realigned their capacity to reflect the lower demand
brought on by the crisis. Carriers combined flights
and began operating larger aircraft, causing capacity
to increase by five seats per flight and the maximum
takeoff mass of aircraft to climb from 66.1 metric
tons to 68.2, on average.
In 2009 the load factor on flights averaged 71.5 percent, compared to 72.8 percent in 2008. Another
reason for the sharper decline in the number of aircraft movements compared to passenger numbers
was the discontinuation of a large number of air
cargo and air mail flights.
Intercontinental traffic still at a high level
Passenger growth differed significantly from one
traffic segment to another. Whereas passenger
numbers on domestic and European routes dropped
by 6.5 and 5.9 percent respectively, demand on
intercontinental routes dipped just 0.6 percent, with
the number of air travelers on long-distance journeys
remaining more or less flat, year-on-year, at the high
level of around 4.6 million.
Thanks in particular to the daily flights to Johannesburg
operated by South African Airways, passenger numbers grew 17 percent on routes to Africa. We also registered a gain of 6.2 percent in numbers on services to
and from Asia, and Middle East air traffic grew almost
20 percent. In October, a new carrier, Oman Air, joined
the ranks of the airline companies in this boom region
already serving Munich, alongside Qatar Airways, Emirates, Etihad and Saudi Arabian Airlines.
In 2009, the highest passenger numbers we recorded
on long-haul routes were on flights between Munich
and Dubai, followed by Chicago, Washington and
Bangkok.
Business divisions
Aviation
27
Spain ranked number one yet again
There were significant differences in the way so-called
continental traffic developed during 2009. Services
to certain Eastern European countries, a key growth
region in recent years, were scaled back or discontinued (to Lithuania, Slovakia and Armenia, for
example), yet on routes to and from Bulgaria, Latvia
and Croatia passenger numbers continued to grow
at rates of between 2 and 8 percent. The number of
passengers on services to and from Israel surged
17 percent when Lufthansa began serving Tel Aviv
with non-stop flights from Munich again.
Continuing the pattern we’ve seen in recent years,
the countries in the continental segment with the
highest passenger numbers in 2009 were Spain with
2.5 million, Italy with 2.3 million, and Great Britain
with 1.7 million. The highest passenger numbers
were recorded on services to London Heathrow (with
around 902,000), Paris Charles de Gaulle (approximately 828,000) and Madrid (around 603,000).
Domestic traffic: Hamburg in high demand
Given that domestic traffic typically includes a high
proportion of business travelers, passenger numbers in this segment were down 6.5 percent in 2009
compared to a year earlier, in line with the general
trend in business travel. A total of 9.3 million air
travelers used Munich Airport for domestic German
flights in 2009.
Just as in 2008, the most in-demand domestic destination was Hamburg with around 1.6 million passenger movements. The second- and third-ranked
routes in the statistics were Berlin/Tegel with more
than 1.5 million passengers and Düsseldorf with just
under 1.5 million.
Regular services to 235 destinations
In 2009, 173 airlines operated scheduled and charter
services to and from Munich. Of these, 94 carriers
regularly served 235 destinations in 69 countries.
Twenty of these destinations were in Germany, 148
in Europe and 67 in Asia, the Americas and Africa.
As in prior years, September was the busiest month
with more than 3.1 million passengers. On average
we recorded 89,537 passengers and 1,059 aircraft
movements a day in the commercial sector.
Cargo: A return to growth in the final quarter
Our air cargo business was hit much harder than the
passenger segment by the economic crisis in 2009.
In total, Munich Airport transshipped a total cargo
volume of 229,095 metric tons, including flown
freight and air mail – 11.8 percent down on 2008.
On average, we handled 592 tons of flown freight
and air mail each day in the commercial sector.
The freight volume in its own right shrank by 10.7
percent, to 216,000 tons. This sharp decline in
freight traffic reflects the general situation across
the whole of the transportation industry, though
some segments were hit significantly harder than
others: Rail goods traffic carried by Deutsche Bahn,
On average, 89,537 passengers and 1,059 aircraft movements a day
Aviation
Business divisions
28
First clear signs of resurgent cargo growth in the
fourth quarter of 2009
for example, dropped by around 20 percent in 2009.
Even so, the quarterly figures for air cargo, like passenger traffic, showed a clear upward trend: In the
first three months of 2009 we recorded a drop of
around 26 percent, yet we concluded the year’s
fourth quarter with a strong gain of 8.7 percent.
In our view, this is a clear indication of the onset of
a recovery, and we expect see momentum build
during the course of 2010. We consider this a positive
sign because air cargo traffic, as a rule, is a reliable
early indicator of wider trends in the economy.
Bellyhold freight at 87 percent
The steepest decline we recorded occurred in the
freight-only segment, in other words with freight carried by dedicated cargo aircraft. Many of the scheduled freight-only services in Munich were discontinued in 2009, particularly those on long-haul routes.
Traffic figures for commercial airports in Germany
Mean annual growth rate
MUC
ADV (German Airports Association)
excl. MUC
10%
6.4%
5%
3.6%
0%
Flown cargo (commercial traffic)
At the same time, the percentage of bellyhold
freight – air cargo carried on passenger flights –
rose from 80 percent in 2008 to around 87 percent
in 2009. This meant that the overall tonnage of bellyhold freight dropped by just 3 percent.
Air mail on the decline
The air mail segment was marked by unusual events:
With the introduction of a new transportation strategy,
air mail flights were initially discontinued in August
2009. However, this decision was later reversed, and
the postal service began operating night-time mail
flights again with a service to Hanover. Against the
background of these events, we recorded an overall
drop of around 25 percent in the volume of air mail
handled.
Higher takeoff and landing fees
Airport charges increased in 2009, primarily as a
result of a structural change to the fee schedule that
came into effect on January 1, 2009. The system
was changed inasmuch as fees for central infrastructure are now no longer collected separately but are
covered instead by regular takeoff and landing fees.
In effect, this means that FMG now collects fees on
behalf of Terminal 2.
As a result of the change, earnings in this category
grew by 9.4 percent or €32.1 million, to €374.0 million. This was in spite of negative traffic growth, with
passenger numbers down 5.4 percent at 32.7 million
and scheduled and charter aircraft movements (including ferry flights) down 7.8 percent at 379,300. The
price rise introduced in 2009 did not fully offset the
decline in traffic. One factor that had a positive effect
on earnings (+ €3.3 million) was the introduction of
passenger-dependent PRM charges (levied for services for persons with reduced mobility).
Business divisions
Aviation
29
Marketing: Focus on Arab markets
In 2009, a difficult year for business, we chose to
focus our marketing activities on the Arab countries,
one of the few remaining growth markets. Oman Air,
one of the Middle Eastern airlines, was our only newcomer in the long-haul segment. The carrier’s market
entry proved something of a challenge in that Oman
Air was an essentially unknown brand in Germany
and neighboring countries.
We launched a new project, Gateway Arabia, in 2009
with the specific aim of creating the best possible
offering for Arab passengers at Munich Airport and
positioning the airport not just as a destination but
also as a hub for Mid-East transfer passengers. A
number of initiatives have already been introduced
to improve the offering for guests from this region
in areas like hospitality, retail, signage and airport
services.
Other initiatives in 2009 included a new advertising
campaign specifically targeting the Arab region in an
effort to further extend Bavaria’s market leadership
among Arab visitors to Germany; we also exhibited
at Bahrain International Travel Expo for the first time,
where more than 100,000 visitors, mostly from
neighboring Saudi Arabia, acquainted themselves
with Munich Airport and its home region. We expect
to see higher demand from Arab countries in 2010
and will continue to focus our marketing efforts on
this crisis-proof region.
Marketing to growth markets
When South African Airways chose to expand its
services in 2009 by offering daily flights to Johannesburg, Flughafen München GmbH organized a
road show in collaboration with the carrier over the
summer in Cape Town and Johannesburg to market
the additional capacity. The show’s emphasis was
Destinations served by freight carriers in 2009
Scheduled freight services
Courier/express services
Moscow
London
Liège
Paris
Leipzig / Halle
Cologne/Bonn
Katowica
Frankfurt
Stuttgart
Munich
Budapest
Ljubljana
Seoul
Bucharest
Athens
Hong Kong
Tel Aviv
Bahrain
Delhi
An important destination and hub airport for
Arab air travelers
Aviation
Business divisions
30
A daily service to South
Africa – marketing the
additional capacity
on promoting Munich as a starting point for South
African ski tourists and on positioning the airport as
Europe’s foremost aviation hub.
Air Malta was another of just a few airlines to step
up the frequency of its services in 2009 and demonstrate valuable growth potential – reason enough for
Flughafen München GmbH to exhibit at the AMITEX
travel show in Malta for the first time, together with
the Munich Tourist Office. Munich Airport has since
become the number one transfer airport for the carrier’s passengers from Malta and Catania, superseding Air Malta’s prior gateway, London Heathrow.
A wider catchment area
Close to 100 of the most important tour operators in
Russia, the Ukraine, Georgia, Estonia, Lithuania, Latvia, Poland, the Czech Republic, Slovakia, Hungary,
Slovenia, Croatia, Bosnia and Herzegovina, Serbia,
Romania, Bulgaria and Albania convened in 2009 to
attend a workshop co-organized by Munich Airport
with the goal of developing new product ideas and
tour packages capable of encouraging a greater
influx of tourists to Bavaria from central and eastern
European countries.
Flughafen München GmbH also co-organized its fifteenth road show in South Tyrol, Austria and BadenWürttemberg – this time in collaboration with the
carriers Egyptair, Spanair, Air Canada, Thai Airways,
Aer Lingus and Condor. The primary objectives of
the show, which reached an audience of more than
1,200 multipliers in the travel and tourism industry,
were to expand our market in the airport’s catchment
periphery and to showcase new destinations and
new airlines serving Munich Airport.
Long-haul destinations in 2009
Yekaterinburg
Calgary
Vancouver
Salt Lake City
San Francisco
Los Angeles
Montreal
Tyumen
Aktyubinsk
Munich
Toronto
Denver
Chicago
Atlanta
Boston
New York
Philadelphia
Washington
Charlotte
Orlando
Varadero
Cancún
Puerto Plata
La Romana Punta Cana
Sal
Boa Vista
Shanghai
Hong Kong
Bangkok
Male
Mombasa
São Paulo
Shenyang
Dalian
Seoul
Busan Tokio
Beijing
Sulaymaniyah
Amman
Dubai
Riad
Delhi
Muscat
Doha
Jeddah
Abu Dhabi Mumbai
Mauritius
Windhoek
Johannesburg
Cape Town
Phuket
Singapore
Business divisions
Aviation
31
Growing our consulting business
In 2009, Flughafen München GmbH again succeeded in extending its consulting activities at the
global level, with the result that earnings from its
classic Operational Readiness and Airport Transfer
(ORAT) consulting package, based on experience
acquired during the commissioning of Munich Airport
and Terminal 2, grew 50 percent year on year.
Our ORAT business alone attracted further new
orders worth close to €10 million, including contracts
for the relocation of the new Berlin-Brandenburg
Airport as well as the startup of new airports in Doha
and Qatar and in Durban, South Africa.
Other successful projects completed in 2009
included Terminal 3 in Abu Dhabi, the domestic
terminal in New Delhi, and Terminal D at Moscow
Sheremetyevo.
We also succeeded in widening our consulting
business. For instance, Flughafen München GmbH
is now providing Bahrain Airport with support in
connection with management tasks and is helping
Düsseldorf Airport to introduce so-called Airport Collaborative Decision Making (A-CDM).
Airport CDM is an operational approach designed to
optimize the handling of everything from flight planning to aircraft landings, turnarounds and takeoffs
within an end-to-end process framework.
ORAT: FMG consults for
airports all over the world
Ground Handling
32
Business divisions
Ground Handling
Freight pallets weighing several tons call for the same precise and
careful handling as valuable works of art or lightweight vacation
luggage. At Ground Handling, we unite high-quality, professional
services with the operational flexibility needed to keep connecting
times to a minimum, aircraft turnarounds fast and efficient, and
airport customers happy.
A full-service offering
The Ground Handling division and its subsidiaries
aerogate, Cargogate, mucground Services and EFM
(Gesellschaft für Enteisen und Flugzeugschleppen)
operate together as a full-service provider, offering airline companies a comprehensive portfolio of land-side
and air-side services at Munich Airport from a single
source. These services include aircraft ramp handling,
baggage and cargo handling, passenger and crew
transports, land-side handling and cargo handling.
Ground Handling:
Certification reaffirmed
our high quality standards in 2009
Certified quality standards
Ground Handling’s core strength lies in its ability to
deliver coordinated, interlocking and complex services reliably and to high quality standards. Our work
involves supporting ramp-side hub operations at Terminal 2 for Deutsche Lufthansa and its Star Alliance
partners, which include United Airlines, US Airways,
Air Canada, Air China, Qatar Airways, LOT, Austrian
Airlines and Turkish Airlines.
In 2009, the long-standing customers we served at
Terminal 1 included not just Air Berlin and tourist carriers Condor and TUIfly, but also high-profile airlines
like Emirates, Etihad, Saudi Arabian Airlines, Korean
Air and Delta Airlines. We also succeeded in winning
a new long-haul customer, Oman Air, at Terminal 1.
In the cargo sector, several carriers, including DHL,
FedEx and UPS, have come to rely on the high standards of service we offer at Ground Handling.
We help to ensure minimum connecting times and
rapid turnaround times by delivering flexible, professional and reliable ramp services – the right basis for
trusting, enduring and successful partnerships with
customer airlines.
Driven by a commitment to quality and innovation
leadership, our ground handling services in Munich
became the first at any airport in Germany to receive
DIN EN ISO 2001 certification, back in 1995; we
also went on to obtain IATA AHM 804 certification
in 2003. We focus on serving the needs of customer airlines, providing high-quality, continuously
optimized services based on a mature total quality
management system, and developing new products
in line with customers’ specific needs and requirements. In 2009, we reaffirmed our commitment to
exceptional quality by obtaining recertification to the
revised DIN EN ISO 9001:2008 standard.
Extensive training programs
Our emphasis on making sure that our employees
receive a high standard of training is key to our
ability to continuously optimize and streamline our
service processes. In 2009, Ground Handling and its
subsidiaries held 1,111 seminars (54 percent more
than in the prior year) for 5,532 attendees (more
than twice as many as in 2008), delivering a total of
7,757 attendee-days of employee training. On aver-
Business divisions
Ground Handling
33
age, these seminars scored an A grade when rated
by recipients, reflecting the consistently high quality
of these offerings.
Besides regular continued education programs, key
areas of training included courses on process optimization and the operation of ramp equipment.
Quality assurance and a stable market share
We have a comprehensive quality management
system in place to monitor service quality, speed
and customer satisfaction. This enables us to adjust
our processes in line with customers’ needs and
to rapidly roll out precisely targeted improvements
where necessary. This responsiveness is something
customers appreciate. Munich again ranked among
the top five international airports in the World Airport
Awards, continuing its run of success in recent years.
In 2009, 8.6 million air travelers took part in the award
survey conducted by respected London-based opinion researchers Skytrax. This strong result for Munich
would not have been possible without smooth and
efficient aircraft and baggage handling on the ground.
In spite of tough competition at the airport, Flughafen
München GmbH’s ground handling business succeeded in commanding a market share of 85.4 percent
in 2009. With a workforce of around 2,400 people,
the Ground Handling division and its subsidiary
mucground handled more than 162,000 aircraft.
Due to the general economic crisis, the handling
volume was down roughly 9 percent, year on year.
More than 140 airline companies chose to source
their ground services with us in 2009.
Customers are satisfied
with our efficient aircraft
and baggage handling
Ground Handling
Business divisions
34
Creating competitive
conditions and cost
structures
Not just the global financial crisis but also the fierce
price war in the aviation industry and the massive
decline in air fares brought on by low-cost carriers
and their cut-price offers continued to heighten the
already highly competitive situation and exert pressure on prices in the ground handling sector, just as
in 2008. FMG responded by continuing to streamline
processes and improve productivity and flexibility.
owned subsidiary with 550 employees. Mucground
chiefly specializes in conducting ramp and baggage
handling operations. With its competitive cost base
and organizational flexibility, the company plays a
vital supporting role within the division.
Restructuring efforts continue
In 2009 we continued to pursue the restructuring
strategy launched in 2005 in an effort to keep Ground
Our executive management has stepped up its efforts Handling competitive and to be able to offer services
to keep the division within the FMG Group. However, at realistic market prices. Thanks to internal optimizaif we are to succeed in securing all of the jobs in the tion, we were able to improve the division’s overall
results. However, the future success of our restrucdivision in the longer term, it is essential that we
turing efforts will depend largely on our ability to
transform it into a profitable and competitive business unit with rates of pay typical for the industry. If establish a viable long-term competitive framework
and cost structures.
we cannot succeed in turning Ground Handling into
a competitive operation, we may have to withdraw
Aerogate: On the expansion track
from this area of business.
Besides providing passenger handling services,
aerogate, a wholly owned subsidiary of FMG,
Mucground: Handling and other services
is also engaged in a range of other activities at
Ground Handling receives extensive, highly efficient
Munich Airport. These include running a last-minute
assistance in the area of ramp handling from mucground Services Flughafen München GmbH, a wholly travel agency, a IATA ticket agency and the airport
lounges, as well as operating the airport’s baggage
delivery service and arrival service, and supervising
the airport’s ramp areas.
In spite of a difficult market environment with three
aggressive rival operators competing for business
and the ongoing effects of the financial and economic crisis, aerogate succeeded in securing a
market share of more than 60 percent in Terminal
1. With its workforce of around 400, the company
handled more than 30,000 flights and roughly 2 million passengers in 2009.
The company’s customer base in Terminal 1 includes
tourist carriers like Air Berlin, TUIfly and LTU as well
as more exclusive long-haul customers like Emirates,
Etihad, Saudi Arabian Airlines, Korean Air and Delta
Airlines. In Terminal 2, aerogate is primarily involved
Business divisions
Ground Handling
35
in ticketing and supervision roles for customers like
Thai Airways, United Airlines, Qatar and Swiss.
Cargogate: A major decline in cargo
Cargogate is a wholly owned FMG subsidiary with
around 250 employees. It is responsible for cargo
handling and storage, documentation, and customs
clearance services at Munich Airport.
Due to a massive decline in freight volumes triggered by the global financial and economic crisis,
Cargogate saw its warehouse inventory levels
contract by more than 40 percent. Freight-only
services were particularly hard-hit by the collapse
in the market, but bellyhold and express carrier
tonnages, too, were down significantly. In an effort
to weather the decline in its business, the whole
of Cargogate’s workforce switched to short-time
working on March 1, 2009.
Nonetheless, Cargogate succeeded in maintaining
a strong position at Munich Airport during the crisis.
The company handled around 70,000 metric tons
– roughly 40 percent – of the flown freight transshipped in Munich. In addition, Cargogate still has
more than 70 percent of the airport’s air cargo customers under contract.
EFM: Strong and efficient performer
EFM – Gesellschaft für Enteisen und Flugzeugschleppen am Flughafen München mbH, co-owned
by Ground Handling (49 percent) and GGG Service
for Airlines GmbH (part of the Lufthansa Group),
carries out aircraft pushback and de-icing operations,
supplies preconditioned air, and provides a range
of training and consulting services.
As customers repeatedly reaffirm, EFM and its
120-strong workforce have a strong reputation for
exceptional quality of service and cost-efficiency. The
company also has effective environmental strategies
in place designed to promote sustainable business,
and has been certified to ISO 9001 and ISO 14001
quality and environmental management standards.
In fiscal 2008 / 2009, EFM conducted around 129,000
pushback and maneuvering operations and de-iced
roughly 10,700 aircraft.
Ground Handling and
its subsidiaries: Professional, reliable and
efficient
Corporate Real Estate Management and Development
36
Business divisions
Corporate Real Estate Management
and Development
Providing a perfect environment for people to shop, dine and enjoy
themselves ensures us high visitor numbers and stable revenue
streams. But our attractive mix of retail outlets and extensive
choice of places to eat aren’t the only draw: The München Airport
Center Forum and the wide variety of events it hosts are a big
attraction for air travelers and airport visitors alike.
Sharpening Munich
Airport’s appeal
The airport – a place of encounter
Besides bringing the big wide world much closer and
lifting the boundaries between people, Munich Airport
is also a busy place of encounter for visitors and
airport employees and a popular location for restaurateurs, retailers, hoteliers and advertisers. However,
the needs and expectations of customer groups and
partner businesses are shifting constantly, and for
Flughafen München GmbH, as the airport operator,
creative thinking, dedication, and a sense of responsibility toward our customers are all essential success factors in the corporate real estate sector.
Novotel, part of the French global hospitality group
Accor, won the bid to construct the new on-campus
hotel, which was inaugurated in early 2010. Besides
facilities like a spa area and conference rooms fitted
with the very latest technology, the hotel offers
guests a shuttle service to either of the airport’s two
terminals and the München Airport Center, just a few
minutes away. The hotel also has a large car park of
its own and direct access to the rapid transit rail line.
Demand for overnight stays at Munich Airport is on the
rise, not just among business travelers but also among
people traveling for pleasure, especially families, so
the new hotel is filling a gap rather than competing
with the airport’s five-star Hotel Kempinski. Priced in
a more affordable category, it perfectly complements
the hotel accommodation previously available on
campus.
In 2009, a year marked by economic challenges, we
remained fully focused on customer needs, rolling
out new projects and leases intended to address
target groups’ expectations better, optimizing our
retail business, and organizing numerous successful
events – initiatives all aimed at making Munich Airport
an even more engaging and attractive location.
Kempinski Hotel to be extended
We are also planning to extend the Kempinski Hotel
A key addition: The new hotel
Airport München, which currently has 343 single and
To meet the growing need for overnight accommodouble rooms and 46 suites. The planned extension
dation on site, a new three-star-plus, medium-price- to the east wing will consist entirely of rooms for
segment hotel with more than 250 rooms has been
guests – a further 160 in total.
built at the airport – a valuable addition to our extensive service infrastructure.
Construction work could begin during the course
of 2011, in which case the extension could open
Business divisions
37
in 2012 or 2013. It is being designed by the Chicago-based firm of architects Murphy / Jahn, who
created the existing Kempinski Hotel and the
München Airport Center.
Shopping, fine food and fun
The retail sector at Munich Airport remained solid in
2009 in spite of the economic crisis, with high standards on a par with and even better than in the past.
With retail and hospitality units covering a total area
of more than 35,000 square meters, passengers and
airport visitors have a rich and extensive choice of
places to shop.
Novotel with 250
beds now open,
Hotel Kempinski
to be extended
We extended our spa and wellness offering, which
already included the Cosmetic Institute and so-called
napcabs (rest and sleeping pods), by opening two
branches of Be Relax, a French spa chain, which
provide services like massages, manicures and
pedicures. An additional highlight was the creation of
Business divisions
38
More than 35,000
square meters of varied
and attractive retail
offerings
Pure Brands, a special beauty and skin care zone,
designed to appeal primarily to female travelers.
Located immediately behind the security checkpoints in Terminal 2, it sells a wide range of upmarket brand products from M.A.C. Cosmetics,
Bobbi Brown, Kiehl’s and Jo Malone.
Other new additions included stores selling Polo
Ralph Lauren’s casual yet elegant range of clothing
and the current collection by luggage maker Picard,
plus a store operated by Deutsches Museum in
Munich, which sells special toys, gift items, books,
models and much more. The Lufthansa WorldShop
relocated to a larger, specially created new unit
bannered “Travel, trends & taste,” where it offers a
range of high-quality brand-name travel, life style and
sports products.
The number-one event in the hospitality sector in
2009 was the opening a new McDonald’s restaurant – at the time, the most modern in the world.
Besides the famous burgers and snacks, guests can
enjoy specially prepared specialty coffees at McCafé,
check their flight status on the in-store arrivals and
departures boards, and print their boarding cards
at one of the Lufthansa check-in machines. The
McDonald’s drive-in, always popular, is still operating and was given a thorough makeover in 2009.
Events in the MAC Forum
In 2009, events held in the München Airport Center’s
Forum were again the focus of advertisers’ marketing activities. Highpoints included the Airport Beach
Weeks and the airport’s eleventh winter market, with
its abundantly varied family program and a large artificial ice-skating and curling rink.
One new and highly popular initiative in 2009 was
Airport Day: The first Saturday of each month is
devoted to a special theme – carnival, Easter or the
Oktoberfest, for example – chosen to suit the given
month. On each Airport Day, we put on a program
for visitors featuring exciting events and specials
in the airport’s retail stores, plus entertainment
especially for youngsters.
Retail space in 2009
Total: 35,324 m²
Retail/services: 20,135 m²
Hospitality: 15,189 m²
Air-side
retail/services
10,711 m²
Air-side
hospitality
4,701 m²
Landside
retail/services
9,424 m²
Land-side
hospitality
10,488 m²
Business divisions
39
Other events in 2009 included a meet-and-greet day
for fans of local soccer club TSV 1860 München and
a celebration to mark the tenth anniversary of the
Edeka supermarket opening at Munich Airport. One
particular highlight was a visit by Porsche to the MAC
Forum: The Zuffenhausen-based sports car maker
chose the venue to launch its brand new Panamera
for the world press – and anyone else who happened
to be at Munich Airport at the time.
Advertising space on the terminal’s façade
In 2009 we introduced a new and revolutionary
form of advertising space at Munich Airport which,
in terms of sheer scale, thrilled not just advertising
professionals but passengers and airport visitors
too: the west façade of Terminal 2. This not just the
largest contiguous advertising space in the whole of
Germany, it also became a prized piece of advertising real estate for major brands like Porsche, Mercedes and Audi and the media group Sky Deutschland AG during 2009.
The airport is a popular
venue for promotional
events and advertising
campaigns
Retail and Services
40
Business divisions
Retail and Services
Everywhere – from shops and restaurants to hotels and car parks
– high standards of service make a world of difference. To keep our
customers happy and fulfill their wide-ranging needs and expectations, our subsidiaries and their highly dedicated employees focus
on delivering quality goods combined with exceptional service.
Their results are impressive.
Parking for more than
34,000 vehicles, plus
value-added services
Parking and Services: Quality parking, 24 / 7
Our Parking and Services unit operates the parking
facilities at Munich Airport – 14 multistory garages and
several open-air lots, with a total capacity in excess of
34,000 parking spaces. Its customer base comprises
not just air travelers but also airport building tenants
and airport employees who park at the airport.
The range of services offered includes convenience
and secure parking, available in the multistory parking garage P20, plus value-added automobile services,
including washing, interior cleaning, and transfers to
auto repair shops. Our valet parking, too, is a popular
service: Travelers can hand their car over to an airport
employee who parks it in a garage of their choice,
and when they arrive on their return journey, the car
is driven up for them, ready for collection. We also
provide XXL parking – extra-wide bays with plenty of
space for getting in and out. And lastly, there’s “Park,
Sleep & Fly,” a special deal from the Hotel Kempinski
Airport München. Bannered “Start your vacation well
rested,” this is a package that combines an inexpensive room for a night plus up to eight days of free
parking at the airport.
Other parking-related services at Munich Airport
include the option of making a firm parking reservation online by credit card up to six months in
advance, plus special rates with discounts as high as
48 percent when booking parking through the airport
website.
A new record: 6.5 million vehicles parked
During 2009, around 6.5 million vehicles used the
parking facilities at Munich Airport – 1.2 percent more
than a year earlier. However, parking stays were generally shorter, resulting is a drop in external parking
revenue of 6 percent, to around €62 million in 2009.
Allresto: Attractive and innovative hospitality
Formed in 1978, Allresto Flughafen München Hotel
und Gaststätten GmbH runs around 80 percent of
the hospitality operations at Munich Airport. These
are organized in separate restaurant, canteen and
hotel business units. Restaurants are Allresto’s core
business and it runs these itself. They include Airbräu,
a Käfer bistro and restaurants, il mondo, Leysieffer,
Piazza Monaco, Bamee, Bistro Organic, McDonald’s,
and various bars in both terminals, plus the municon conference center. The airport’s five employee
canteens and the Hotel Kempinksi are managed by
third-party operators – caterers Eurest Deutschland
GmbH and hoteliers the Kempinski Group. Through
its mixed franchise and license-based model and its
own strong brands, Allresto delivers an attractive and
innovative hospitality offering to air travelers and visi-
Business divisions
Retail and Services
41
tors at Munich Airport. With its 568 employees (the
average headcount over the year), Allresto generated
a total revenue of €63.8 million in 2009.
Allresto made a number of changes and remodeled
several units during the review year to boost their
appeal. The Paulaner Bar in Terminal 2, for example,
was reconceived and reborn as the Fürst von Metternich Bar, and the coffee garden at the Alfredo Bar
in Terminal 1 was redesigned to create a more cozy
atmosphere. In addition, the Paulaner Bar in Terminal 2 along with the Coca-Cola and Erdinger Weissbier
bars and the Café Alfredo in Terminal 1 were all fitted
with redesigned lighting. Allresto is also planning to
add a new terrace at the Airbräu pub in Terminal 2.
One major hospitality-sector highlight is the new
McDonald’s restaurant with a McDrive and a
McCafé, which opened in the München Airport
Center in November 2009.
Certification and monitoring
Environmental performance is a key concern for
Allresto, and the company has now been validated
under the European Union’s Eco-Management and
Audit Scheme as well as the ISO 14001 environmental management standard. Allresto has also
been certified as a supplier of organic foods and
has been granted the requisite approvals to produce and market its own line of organic goods.
Allresto stands for quality
and variety
Retail and Services
Business divisions
42
eurotrade sells a highquality range of goods
through modern outlets
In addition, Allresto performs regular checks to verify
that goods are procured sustainably, that potentially
hazardous substances are handled safely, that waste
is processed in accordance with sound environmental principles and recycled as far as possible, and that
energy is consumed responsibly – through extensive
use of power-saving lighting, for example.
Putting customers first
As a retail company, eurotrade is committed to meeting customer needs and expectations. This calls not
just for an exceptionally dedicated and professional
workforce, trained to exacting standards, but also for
a high-quality, customer-centric range of goods presented in modern and stylish retail outlets.
eurotrade: High product and service standards
The majority of retail outlets at Munich Airport are
operated by eurotrade Flughafen München HandelsGmbH. Its primary focus in 2009 remained on delivering high-quality products and a rich variety of brands
and on offering passengers outstanding shopping
opportunities in the airport’s duty-free and Travel
Value stores, fashion, watch and jewelry stores,
and newsagent and souvenir shops.
To fine-tune its offering in line with customers’ expectations, eurotrade further expanded its fashion segment, adding a second Hermès boutique, a Polo Ralph
Lauren store and an Esprit Collection shop. In the cos-
The overall situation in the economy posed something of a challenge for eurotrade’s businesses at
Munich Airport in 2009. However, in spite of the
5.4 percent drop in passenger numbers compared to
2008, eurotrade’s revenues contracted just 3.4 percent year on year. At December 31, 2009, the company had an HR capacity of 775 and reported total
sales of €142.4 million.
Sales per departing passenger
Retail and hospitality
€15
€13.67
€14.03
€14.45
€14.61
2006
2007
2008
2009
€10
€5
€0
Business divisions
Retail and Services
43
metics segment, eurotrade introduced Pure Brands,
a new style of retail zone showcasing well-known
luxury brands at a busy area in Terminal 2; it also widened its overall product portfolio by adding an Optik
Air eyewear outlet and a Newspoint Audiobooks
store. In addition, a number of outlets, including the
Hugo Boss & Ermenegildo Zegna store, were given
a facelift to sharpen their appeal.
Airport retail growth (units)
Retail / services
Hospitality
250
198
200
150
51
50
147
154
89
100
42
50
0
204
11
31
1992
28
61
1998/1999
2008
2009
MediCare: Healthcare at Munich Airport
FMG subsidiary MediCare Flughafen München Medizinisches Zentrum GmbH is responsible for providing
healthcare services to air travelers, visitors, and
employees at Munich Airport. The subsidiary also
runs AirportClinic M, which provides full-service
medical treatment to local and international patients.
MediCare is co-owned by Flughafen München GmbH
with 51 percent and by MAHM GmbH, a company
operated by a group of physicians, some of whom
are based at Munich Airport, with 49 percent. MediCare restructured internally in 2009, setting up separate business units for its clinic, outpatient services,
and corporate healthcare. MediCare currently has
a workforce of 67 employees and in 2009 reported
total sales of €5.7 million.
MediCare: Healthcare
services for travelers,
visitors and employees
Terminal 2
44
Business divisions
Terminal 2
With an expanded route network and additional frequencies on
long-haul services, Terminal 2, our joint project with Deutsche
Lufthansa, continues to set standards as an international hub –
not just with its world-beating minimum connecting time, but
also its superb retail offerings and first-rate dining.
Strategic partnership
Our Terminal 2 division comprises Terminal 2 Betriebsgesellschaft mbH & Co oHG, the company responsible for operating the passenger terminal. The company is co-owned by Flughafen München GmbH and
Deutsche Lufthansa AG, with respective holdings of
60 percent and 40 percent, and represents the first
instance worldwide of an airport operator partnering
with an airline company to share the entrepreneurial
responsibility for constructing and operating a piece
of airport infrastructure.
LH and FMG: Jointly
responsible for operating Terminal 2
Terminal 2 Betriebsgesellschaft does not function
in a production capacity as such; instead, its two
corporate parents provide services on its behalf.
Other services needed in connection with marketing and operating the building are bought in, mainly
from FMG. The subsidiary’s task is to coordinate and
integrate services, to optimize processes, and to
develop new ideas and strategies.
One terminal, many advantages
Joining forces to build and operate Terminal 2, which
is used exclusively by Lufthansa, its group companies and, above all, other Star Alliance members,
brings important benefits for both FMG and Lufthansa. Besides having the use of a passenger building designed from the ground up to handle international hub operations, the carrier can also guide and
shape the facility’s future development. For FMG,
the terminal has created considerable additional air-
craft and passenger-handling capacity, and secured a
long-term commitment to its airport from Germany’s
largest airline – a commitment that will help to drive
and sustain future growth.
Terminal 2 offers a minimum connecting time of
just 30 minutes (unmatched among international airports), is a well structured and user-friendly building,
and has an extensive range of retail and hospitality
outlets.
A rich and attractive non-aviation offering
Terminal 2’s outstanding non-aviation portfolio comprises 88 retail and service outlets (26 in the public
area and 62 in the restricted area) plus 20 bars,
cafés and restaurants (seven in the public area and
13 in the restricted area). In 2009, this portfolio was
further enhanced and refined through new additions
and redesigns.
The Lufthansa WorldShop, with its select yet extensive assortment of high-quality brand-name travel,
lifestyle and sporting goods, moved to a new,
central location in the check-in hall with more than
double the floor space. In addition, a new Deutsches
Museum store opened in October, at a location close
to the security checkpoints. Here, air travelers and
airport visitors can purchase a variety of gift items,
including a selection of games. On the arrivals level,
a new Subway restaurant opened, serving a wide
choice of fresh sandwiches and snacks.
Business divisions
Terminal 2
45
The terminal’s restricted area now has four new,
highly fashionable shops offering a range of skin care
and cosmetics products by Bobbi Brown, M.A.C.
Cosmetics, Jo Malone und Kiehl’s, plus service with
a personal touch. Fashionable and exclusive footwear and accessories from Swiss shoe company
Navyboot and high-end casual wear from Polo Ralph
Lauren further enriched the retail offering in the
Schengen departure area 2009.
In the non-Schengen area, a chic Hermès boutique
and a new Picard shop selling an extensive selection
of high-quality leather goods and practical travel bags
opened in 2009. And to make transfers and waits
for flights a more pleasant experience, the area also
has a new Be Relax spa where travelers can enjoy a
soothing massage plus a range of wellness and cosmetics treatments.
Terminal 2 has an unparalleled minimum connecting time of just 30
minutes
Terminal 2
Business divisions
46
Terminal 2: Exclusive
stores and smart spa
facilities
Services to Dubai, New York and Tel Aviv
During the 2009 summer timetable season, Lufthansa further expanded its network of routes from
Munich. Besides launching a new daily service from
Munich to Lviv in west Ukraine, the carrier also added
second daily frequencies to Bilbao in Spain and to
Cluj in Romania. Lufthansa also stepped up frequencies in the short- and medium-haul segment on
routes to London Heathrow (with eight flights a day),
Palma de Mallorca (twice weekly), Cologne/Bonn (ten
flights a day) and Paderborn (four flights a day).
Lufthansa also added four frequencies a week on its
Tel Aviv route, which it serves with widebody Airbus
A340 long-haul jets.
In addition, the airline increased the frequency of
its long-haul flights to New York John F. Kennedy
with Airbus A330 aircraft to two a day and began
offering six additional business-jet flights a week
from Munich to JFK from mid-May to mid-July. This
boosted the carrier’s total weekly flights to New York
to 20. During the 2009 summer season, Lufthansa
also began offering daily flights with widebody jets
to Dubai again for the first time since the summer of
2004. Overall, 27 carriers operated regular services
to 116 continental and 24 intercontinental destinations from Terminal 2 during the review year.
New rooftop passageway opens
Following the opening of Terminal 2’s new rooftop
passageway in the middle of January, which enables
passenger streams to be strictly segregated in
compliance with European Union requirements for
airports in EU member states, we continued the process of modifying jet bridges at Terminal 2 to provide
direct access to the new passageway. By the middle
of April, work on four bridges had been finished,
bringing the number completed up to 16 of 24 in
total at the terminal.
Business divisions
Terminal 2
47
Lower energy consumption and carbon emissions
In line with Flughafen München GmbH’s wider sustainability strategy, Terminal 2 Betriebsgesellschaft
set up an energy working group. Its task was to
identify ways to optimize energy performance and
to reduce related carbon emissions at Terminal 2
without impacting on building users’ comfort and
convenience.
During 2009 we implemented the working group’s
ideas and recommendations extensively, with the
result that we succeeded in bringing down our
power, heating and cooling energy consumption by
around 10,000 megawatt hours compared to 2008
– and this in spite of an overall increase in energy
requirements due to the new rooftop passageway
and the need to ventilate smokers’ lounges. As a
result, Terminal 2’s carbon emissions were around
4,500 tons or 10 percent lower than a year earlier.
Terminal 2 Betriebsgesellschaft has again set ambitious environmental targets for 2010. We aim to
reduce our power consumption and our carbon output by a further 5 percent compared to 2009.
Cutting carbon emissions, but not at the
expense of comfort
Munich
Istanbul
Safeguarding the future. Transport arteries sustain
modern civilization. They create the connections that
enable cultures to grow closer together and open up
boundless new opportunities for people and businesses. Today, sustainable mobility is key. Which is
why we’ve made sustainability, in all its aspects, a
core focus of our business.
About us
About us
50
Sustainability
Expanding the airport infrastructure
Aviation and climate change
Communications and regional relations
Personnel
About us
Sustainability
Sustainability
51
To make sustainable use of resources we need intelligent infrastructures, and we’re determined to create them. We’ve elevated
sustainability to a core principle across all our business units at
Flughafen München GmbH and have enshrined it in our new mission statement: By 2015 we aim to be one of the most attractive,
efficient and sustainable hub airports in the world.
Beyond environmental responsibility
In today’s business world, sustainability has long
since ceased to be a purely environmental concept.
Climate and environmental stewardship remain
essential elements in any sustainability strategy, but
there are other factors too that are no less important. A defining characteristic of companies committed to sustainability – organizations like the FMG
Group – is their ability to successfully balance their
business, environmental, social and societal goals.
A cornerstone of corporate strategy
The FMG Group’s corporate policy addresses a full
gamut of sustainability criteria. This is because our
aim is to protect and strengthen the foundations of
our business in the long term and, by operating our
airport successfully, ensure that we can safeguard
not just mobility but also Bavaria’s quality and appeal
as a location, now and in the future.
At FMG we understand that we need to pursue
key sustainability initiatives – like protecting the climate and the environment, developing our human
resources, and building strong collaborative relationships with partners in our home region – if we are
to remain a success in the long run. This is why we
have fully embraced the principle of sustainability as
part of our corporate strategy.
Mission 2015: Setting standards
In light of this, and because we want to be a leading
sustainable business within our industry, sustainability is a core principle in our new mission for the
period through to 2015: By 2015 we will be one of
the most attractive, efficient and sustainable hub airports in the world.
The pursuit of sustainable business practices is thus
a core objective for each of our business units. This
will give us an important competitive advantage
within our industry and will enable us to set standards, not just within Europe but worldwide as well.
Sustainability is central
to our 2015 mission
Sustainability
About us
52
Strategic sustainability goals
The company framed a number of sustainability
objectives at a special management workshop in
2008. These objectives informed and defined a
number of targets, outlined below, that our company units are now implementing on intermediate
and longer-term timelines as part of our strategic
sustainability program.
In terms of the company and governance, our strategic sustainability objectives are as follows: to sustain
value creation through a yield-driven business model
and continued investment in our location; to achieve
greater customer focus and to build a more attractive
product and service portfolio; and to establish management structures that foster responsible corporate
leadership.
Gradually implementing our sustainability
objectives
Our objectives in the area of environmental and
climate protection are company-wide expansion of
our environmental management system; resource
efficiency and reduction of emissions and other
impacts; and carbon-neutral growth.
Objectives with regard to our workforce and work
environment encompass advancing employees’
knowledge and skills; promoting a performancedriven corporate culture; increasing our attractiveness as an employer; and improving efficiency in our
human resource management processes.
Our social and stakeholder management objectives
are to embrace social responsibility and to develop in
partnership with our region.
Unified sustainability management
The entity responsible for sustainability management
within the FMG Group is the Corporate Development
and Environment division. Its core tasks are to unify
the wide range of sustainability activities within the
organization and to deliver transparent internal and
external communications on sustainability.
Given that numerous sustainability projects are
conducted at Group level, we set up a Group-wide
panel staffed by people from five divisions: Human
Resources, Finance and Controlling, Corporate Development and Environment, Engineering and Facilities,
and Corporate Communications. The panel makes
fundamental decisions on sustainability projects and
reports directly to executive management.
Top rating for our first sustainability report
In 2009, the FMG Group published its first ever
sustainability report. Titled Perspectives, the
110-page document details our concept for sustainable
business.
The report was prepared in accordance with the
third and most recent set of guidelines issued by the
Global Reporting Initiative (GRI). The GRI reviewed
the report and awarded it a top rating. This made
Munich the first airport in Europe to issue a report
that satisfies all GRI Application Level A criteria.
About us
Sustainability
53
Materiality matrix
– Career training
– Facilitation of global mobility
– Better integration with mass
transit systems
– Reduction of environmental
footprint
– Collaboration with home
region
– Stakeholder dialogue and
communications
Importance for stakeholders
Very important
– Continuous value creation
– Supplier management
– Co-determination
– Risk management and
anti-corruption initiatives
(compliance)
– Airport development and
demand-driven capacity
expansion
– Customer satisfaction and
feedback management
– Competitive operating
structures
– Energy efficiency and
resource conservation
– Safety and security
– Regional sponsorships
Important
– Collaboration with academic
institutions
– Cultural diversity in the
workforce
– Conservation
– Industrial health and safety
– Promotion of employee
sustainability awareness
– Political stance and participation in organizations
– Health management
– Sustainable building
– Continued education and
HR development
– Waste management
– Water and wastewater
– Handling of hazardous
substances
Important
Very important
Importance for Flughafen München GmbH
A matrix of core topics
The report, which we plan to publish on an annual
basis from now on, highlights each of our strategic
sustainability objectives and covers the primary
focuses of company sustainability policy. It also
includes a materiality matrix, prepared according to
GRI reporting guidelines, that indicates the priorities
assigned to key sustainability issues and their individual importance, both for the company and for its main
stakeholder groups. The matrix highlights the core
topics covered in the report and charts the course we
are pursuing with our sustainability activities.
Prioritizing core
sustainability issues
54
About us
A hub airport operating at its capacity limits on a near daily basis is
a hub airport incapable of responding flexibly and efficiently to
growing global demand for mobility. If we’re to sustain and secure
continued traffic growth at Munich Airport, we need to build our
third runway.
Meeting global mobility needs
As globalization continues to gather momentum and
today’s international business environment becomes
more and more interconnected, meeting society’s
growing need for mobility is becoming an increasingly important task, particularly for a leading European hub like Munich Airport.
Expanding the airport to
meet tomorrow’s traffic
needs
Despite this need, the turbulence caused by the
global economic slowdown in 2008 and 2009 had a
sizeable impact on the international aviation industry.
Now, though, economic experts and research organizations concur that there has been a resurgence
in Germany’s economy since mid-2009 and, based
on current economic forecasts, the trend looks set
to continue in the years ahead. With the worst of
the recession over, global demand for mobility is on
the ascent again, air traveler numbers are growing,
and there are clear indications that we are entering a
period of steady long-term growth.
As this trend unfolds, it’s crucial for Munich Airport
to create the requisite conditions to support and
sustain a resurgence in air traffic and to be ready to
serve tomorrow’s transportation needs efficiently.
To ensure that the airport has the capacity to accommodate tomorrow’s air traffic, Flughafen München
GmbH on August 24, 2007, submitted an application
for the zoning approval required in order to build a
third runway.
About us
55
Third runway needed now
The airport has needed a third runway to handle dayto-day operations for a while now: At peak times, we
are already operating at our capacity limits. With our
current two-runway system, we can only schedule
around 90 takeoffs and landings an hour, but airlines
have already submitted requests to the airport coordinator for 110 slots.
Capacity bottlenecks and a lack of available takeoff
and landing slots are now a part of everyday operations in Munich. The addition of a third runway would
boost capacity to at least 120 aircraft movements an
hour, giving us the headroom we need to accommodate anticipated traffic growth through to our current
planning horizon of 2020 / 2025. The new runway, to
be built at the site known as “5b”, will be 4,000 meters
A third runway is crucial
to meeting our capacity
target of at least 120
takeoffs and landings
an hour
About us
56
long like its two predecessors, and located at a
distance of 1,180 meters from the airport’s north
runway (center to center), with a threshold offset of
2,100 meters. This will allow it to operate independently of the other two runways.
Passenger volume (million)
Growth and projected demand up to 2025
58.2
60
All three runways can
operate independently
49.8
48
41.7
36
32.7
23.1
24
12
12.0
0
1992
2000
2009
2015
2020
2025
Source: Flughafen München GmbH (April 2010)
Intraplan Consult GmbH: Baseline variant
Aircraft movements (total traffic, thousand)
Growth and projected demand up to 2025
590
600
536
471
480
397
360
240
319
192
120
0
1992
2000
2009
2015
Source: Flughafen München GmbH (April 2010)
Intraplan Consult GmbH: Baseline variant
2020
2025
The South Bavaria Aviation Office, a department of
the regional government of Upper Bavaria, verified
the application documents submitted by Flughafen
München GmbH and initiated the zoning approval
process required under aviation law on October 9,
2007. The application documents were made available for public scrutiny and a review procedure was
initiated, during which the regional government
received some 140 written statements from bodies
representing public interests, plus around 60,000
objections to the project from private individuals.
These were all forwarded to Flughafen München
GmbH, which examined and responded to them in
full by September 30, 2008.
Concerns and positions reviewed in detail
Once the objections raised had been processed,
the zoning authority responsible for approving
the airport operator’s application held 59 days of
statutory hearings in the period from November
11, 2008, to March 31, 2009, during which the
concerns and positions of affected citizens, government agencies, bodies representing public
interests, and other entities were discussed and
the plans for the runway and its impacts were
assessed.
As a result of the numerous technical issues
raised during the review process as well as the
current economic and financial climate, Flughafen
München GmbH also had to respond to numerous
additional inquiries to underpin and augment the
contents of the zoning approval documents in the
period immediately following the review. The key
points included air traffic forecasts, a review of the
quality of these forecasts (commissioned by Upper
About us
57
The satellite (foreground)
planned to augment
capacity at Terminal 2
Bavaria’s regional government and conducted by
Hamburg-Harburg Technical University’s Institute of
Traffic Planning and Logistics), a new technical noise
survey required in the wake of amendments to aviation noise legislation, and issues relating to the landscape conservation plan.
Since the conclusion of the review process, the
regional government has been assessing the documents and statements submitted, preparatory to
issuing its zoning approval decision.
Sustaining efficiency
The aim behind our plans to upgrade capacity at
Munich Airport and expand the facility in line with
demand is to ensure that the kind of highly efficient
airport infrastructure is in place that we need in order
to safeguard future aviation demand and our location’s valuable advantages in the longer term. Given
our third runway’s importance in terms of securing
a competitive future for Munich and Bavaria in the
aviation industry, we hope to open it as soon as
possible.
A satellite to augment Terminal 2
Besides additional runway system capacity, Munich
Airport also needs to create new so-called contact
stands (aircraft parking positions at terminal buildings) as well as passenger handling resources if it
is to continue to process hub-and-spoke traffic efficiently in the years ahead. To accomplish this, we’re
planning to build a satellite to augment capacity at
Terminal 2. This new passenger handling building
is to be erected on the east apron and connected
to the terminal via an underground transportation
system.
The satellite, a joint project by FMG and Lufthansa,
is not a new terminal in its own right, but rather a
functional extension to Terminal 2. It will be equipped
with 27 contact stands and will boost the terminal’s
passenger handling capacity by 11 million.
Exploratory planning for the new structure was completed last year, and the project has now progressed to
the design stage. We hope to complete construction
phase one and open the new building in 2014 or 2015.
Planned location for the third runway (preferred variant “5b” in the airport’s northeast sector)
58
About us
Airports, together with other players in our industry, need to work
to improve international aviation’s environmental performance.
Our options range from creating more efficient infrastructures to
using alternative fuels and engaging in comprehensive programs
to conserve energy. Our long-term goal at Munich Airport is carbonneutral growth.
Airports, airlines, ATC
and policymakers all
want to reduce aviation’s
climate impacts
Improving aviation’s environmental performance
Flughafen München GmbH (FMG) has introduced
a catalog of climate and environmental initiatives
aligned with wider, global efforts aimed at reducing
aviation’s ecological footprint. Although aviation currently accounts for just 2 percent of global carbon
emissions, the International Air Transport Association (IATA), the Airports Council International (ACI)
and other international organizations have set tough
targets in an effort to reduce the industry’s climate
impacts. One key goal is to cut aviation’s specific
fuel consumption by an average of 1.5 percent annually through to 2020. If this succeeds, it will mean
that aviation can achieve carbon-neutral growth
from 2020. In addition, by 2050 the industry aims
to reduce its carbon emissions by 50 percent compared to 2005 levels on a like-for-like basis.
If these efforts to reduce aviation’s impacts on the
world’s climate are to succeed, all industry players –
airports, airlines, air traffic control agencies and
policymakers – will have to pull in the same direction. At the same time, we can only accomplish
our objectives by creating efficient infrastructures
and sustainable buildings, by leveraging technological advancements (to enable the use of alternative
fuels and energy systems, for instance), by optimizing resource consumption through strategies like
continuous descent approaches (CDA) or the use of
pre-conditioned air (PCA), and by applying economic
levers like emissions-based landing charges.
Target: Carbon-neutral growth by 2020
Although we expect traffic to continue growing, we
are determined not to allow those carbon emissions
over which we as a company have control – around
160,000 metric tons annually, at present – to increase
through to 2020 in comparison with baseline figures
for 2005. Were we not to take action of any kind, we
could expect these carbon emissions to be between
50,000 and 70,000 tons higher by 2020.
To prevent this, FMG has mapped out a rigorous
carbon-saving strategy coupled with a group-wide
program of measures to conserve energy. One of
the focuses of this program is on sustainable construction. Through more extensive use of sustainable
energy sources, we aim to cut all our new buildings’
carbon emissions by around 40 percent compared to
those of our existing structures. Our biggest project
in this context is the Terminal 2 satellite, currently at
the planning stage. In addition, we intend to optimize
the insulation and energy efficiency of existing airport buildings in line with the current state of the art.
We are also reducing the amount of energy consumed
by the apron lighting at Munich Airport. As of mid-2009,
we began using a computer- and timetable-driven system to control roughly a quarter of our almost 3,000
floodlights based on levels of daylight. By only switching on the floodlights when they’re needed, we expect
to save around a million kilowatt hours of power and
avoid roughly 570 tons of carbon emissions.
About us
59
Pilot project: The solar
air-conditioning system
for the cargo terminal
canteen
Pilot project: Energy-saving solar air-conditioning
In April 2009, we began using an energy-saving solar
air-conditioning system to cool the employee canteen
at our cargo terminal. To date, this pilot project is the
only one of its kind at a European airport.
The system takes in warm air from outside the building and dries it by means of a salt solution. Once
dried, this air is then cooled to a comfortable 21
degrees Celsius by a heat exchanger and used to
cool the employee canteen. To sustain the cycle,
the air extracted from the canteen is re-cooled with
cascading cold water, and the salt used initially to dry
the intake air is itself dried with heat extracted from
warm water produced in 76 square meters of solar
collectors installed on the roof of the cargo building.
ally equipping all of our jet bridges with compact
air-conditioning systems that are hooked up to the
airport’s supply network. Going forward, we aim to
use these systems to feed aircraft parked on terminal stands with cool or warm air, depending on the
season. Once we have upgraded all of our contact
stands with these systems, we expect to achieve
annual carbon savings as high as 14,000 tons – the
equivalent of the average annual output of around
1,000 typical households.
Flughafen München GmbH has now created a webbased database system for tracking reductions in
carbon emissions that conforms to Greenhouse Gas
Protocol guidelines. Staff in units throughout our
organization compute the carbon reductions accomplished through the measures we implement and
When the canteen does not need cooling, the warm record the details in the database. We also track all
water from the solar collectors is used to heat both
of the carbon emissions from other sources on the
the building and the building’s service water. The sys- airport campus so that we can work out our annual
tem helps protect the environment by saving around carbon footprint in detail, complete with a break25 tons of carbon emissions a year compared to a
down of Scope 1, 2 and 3 emissions.
conventional air-conditioning system.
A new approach method: “Idle” descent
Cutting carbon with pre-conditioned air
One way for aircraft to reduce carbon emissions is
Parallel to its own projects, FMG is also helping
to use a continuous descent approach (CDA), a more
airlines to use energy more efficiently. One innovaenvironment-compatible approach method which we
tive energy project involves supplying aircraft parked trialed at Munich Airport in 2009. With CDA, pilots
at contact stands with pre-conditioned air (PCA)
leave the aircraft engines at idle speed for as much
rather than have them running their own climate
of the descent as possible. The result is a continucontrol systems while on the ground. We are graduous descent which can result in kerosene savings of
Several carbon reduction projects are already
in progress at Munich
Airport
About us
60
between 50 and 150 kilograms plus carbon savings
of between 160 and 470 kilograms per approach,
depending on the aircraft type, the distance covered
and the weather conditions. Under ideal circumstances, CDA can also have a positive impact on
aviation noise.
Raising employees’
awareness for environmental and social
responsibility
ous sound pressure level of more than 60 dB(A);
seven stations recorded levels between 55 and 60
dB(A); and nine registered levels below 55 dB(A).
To put this in perspective, in 2000, a year with
320,000 aircraft movements – almost 80,000 fewer
than in 2009 – five measuring stations recorded a
Sustainability training: Motivating employees
continuous sound pressure level of between 55 and
Given that carbon emissions are caused primarily
60 dB(A), and 11 measured levels below 55 dB(A).
by the consumption of energy, the success of any
This means that in spite of the significant increase
energy-saving strategy depends to a large degree on in the volume of traffic over the years, just two meaemployee buy-in and behavioral change. We addressed suring stations recorded levels in the higher band.
this in 2009 by holding sustainability trainings for
employees designed to raise awareness and foster
The incidence of individual noise events in excess of
a sense of responsibility toward the environment and 70 db(A) dropped 5 percent year on year to around
society and to encourage our people to embrace and 337,400. Compared to 2008 and to 2000 (a year with
actively support our environmental efforts.
significantly less traffic), events in excess of 85 dB(A)
only occurred twice rather than three times a day on
Aviation noise levels are unchanged
average in 2009.
As a result of the drop in the number of aircraft movements year on year, none of our 16 fixed measuring
We conducted 12 mobile aviation noise measurestations at Munich Airport recorded a continuous
ments in the airport’s surrounding area in 2009 – one
sound pressure level higher than levels registered in less than in 2008. These measurements covered
2008. At nine of the stations, there was zero change 412 days in total. Over the years, demand for mobile
in the levels compared to a year earlier, and seven
measurements has increased: In 2000, for example,
stations recorded levels that were 1 db(A) lower than we only conducted seven mobile measurements.
in 2008. None of the stations measured a continu-
About us
61
In 2009 the mean nighttime continuous sound
pressure level of 50 dB(A) was not exceeded at any
point where aviation routes intersect with the noise
abatement zone, and the airport only used up 56 percent of its allotted noise quota, just as in 2008.
Airborne pollutants remain at prior-year levels
Levels of nitrogen oxide and particulates recorded in
2009 were broadly similar to those registered in prior
years – in other words largely in the low-to-middle
range. The mean level of nitrogen dioxide, the most
important traffic-related pollutant, recorded at our
main measuring station during the course of the year
was 29 micrograms per cubic meter – close to the
levels of 29 – 34 micrograms per cubic meter measured in 2004 – 2008.
The main measuring station for airborne pollutants
is located immediately to the east of the airport; the
second measuring station is in the west and, again,
extremely close to the airport. The levels measured
here averaged 27 micrograms per cubic meter,
compared to 24 – 31 micrograms per cubic meter
in 2004 – 2008.
In the case of particulate matter (PM10), the mean
annual level was 20 micrograms per cubic meter.
The mean levels for 2004 – 2008 ranged from 17 to
28 micrograms per cubic meter.
Carbon-neutral growth
Rise in carbon emissions without abatement measures, assuming continued growth/investment, and based on overall
energy requirements for buildings and installations on airport campus
Potential target curve for carbon-neutral growth based on overall energy requirements for buildings and installations on
airport campus
Rise in carbon emissions without abatement measures, assuming continued growth/investment as per Scope 1
(airport’s direct emissions from energy production and transportation) and Scope 2 (airport’s indirect emissions from
consumption of energy)
Potential target curve for carbon-neutral growth as per Scope 1 and Scope 2
CO2 / kt
250
200
150
100
50
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Aviation noise and airborne pollutants at prior
year’s levels
62
About us
In our various roles – as an airport operator, employer and neighbor – we believe in open and reliable communication with customers and partner businesses, our local communities and the public
at large. We’re also a committed corporate citizen, engaging in
numerous projects in areas like youth sport, culture, social welfare
and education.
Three awards for the
FMG Group’s annual
report
Munich Airport in the media spotlight
Given the economic turbulence throughout the aviation industry, the media followed developments
at Munich Airport with particular interest in 2009.
Flughafen München GmbH (FMG) reported in detail
on current events concerning the airport, issuing
around 200 press releases plus press photos. We
also organized press meetings on the company’s
sustainability strategy, hub strategy and other major
airport issues, and assisted numerous domestic and
foreign journalists writing stories on Munich Airport.
informed, first-hand, about events and developments
at the airport forms a key area of our communications work. In 2009, our primary vehicles for this
purpose, as in prior years, were our newsletters
MUC life, M Dialog, and Flughafen Report, a program
of brochures and flyers, FRonline (FMG’s electronic
newsletter), and the airport website and corporate
intranet. One key publication in 2009 was our sustainability report which, in spite of being our first
effort, immediately scored an “A” rating from the
Global Reporting Initiative (GRI).
The airport’s expansion plans – above all, its preparations for a third runway – generated considerable
interest once again in 2009. Members of the media
followed the public hearings held in connection with
the zoning approval process particularly closely.
Through our communications work, we succeeded
in promoting a positive perception of Munich Airport
among the public at large and in helping the media
to understand the importance of Munich Airport as
an economic driver and core piece of national transport infrastructure.
FMG’s annual report collected no less than three international awards in 2009: In the APEX Awards for Publication Excellence, an international competition for
communications professionals, it was honored in the
Annual Reports category; it won silver in the Galaxy
Awards, an international competition for excellence in
product and service marketing; and it picked up a coveted Vision Award in the Annual Report Competition
of the League of American Communications Professionals (LACP).
Publications win top ratings and awards
Keeping Munich Airport’s passengers and visitors,
neighboring communities, the interested public,
and the FMG Group’s employee base thoroughly
Partnering with our region
Our ability to collaborate successfully with others
in a wide range of fields and to work closely with
neighbors on joint projects in a spirit of mutual trust
plays an essential role in the airport’s integration
About us
63
within its home region. In 2009, the airport’s regional
relations officer and his team continued to foster
close ties and forge strong working relationships
between Flughafen München GmbH and neighboring districts and communities. Our goal with these
efforts is to ensure that we consistently create winwin situations that benefit local communities, local
people, and our airport in equal measure.
In spite of the economic crisis, FMG continued its
support for numerous associations, institutions and
projects in the Erding and Freising area. Unlike other
organizations, which were forced to scale back their
sponsorship programs, FMG supported 502 projects
in total – roughly a hundred more than in 2008 – in
such areas as youth sport, the arts and culture, social
welfare, and education. Besides continuing our long-
About us
64
In 2009 FMG sponsored 502 projects
in the airport’s local
region
standing sponsorship of events like the Erding Jazz
Festival and the Freising Summer Drama Festival, we
also supported several new projects in 2009, including a hospice association founded recently in Erding
to provide local palliative care, and the Dellnhauser
Folk Music Festival.
Payouts through the regional support fund
Although the zoning approval procedure for the
airport’s third runway is still in progress, FMG has
already made initial payments toward local projects
out of its regional impact fund. In coordination with
the Communities Council, a body formed in 2005 to
About us
65
promote information-sharing and dialogue in connection with the airport’s expansion program, the company announced it would set up a €100 million impact
fund to provide compensation for exceptional burdens and hardships arising through the construction
of the third runway. The fund has already committed
two €5 million tranches – one toward the construction of Erding’s north bypass and another toward Freising’s west expressway, both infrastructure projects
of major importance for the region. To date, an initial
sum of €106,500 has been paid out for the planning
of the Erding’s north bypass – sufficient to cover the
costs in full without the need for taxpayers’ money.
Stepping up our regional marketing efforts
In 2009, we continued to work closely and intensively with the Erding and Freising administrative
districts and city councils to market our local region
through “Airfolgsregion Erding-Freising,” the initiative
we launched jointly in 2005. Besides exhibiting at
several trade shows to promote the region as a vacation destination and business-friendly location, the
initiative also hired its first employees, a move that
will enable it to operate more effectively and to step
up its activities on behalf of the region.
Sponsorships in 2009: €425,127 for 502 projects
By category
Sport
€140,328
33.0 %
Education
€58,391
13.7 %
Social welfare
€116,385
27.4%
Culture
€110,023
25.9%
Working with neighbors
to promote the region
as a vacation destination
and business location
Personnel
66
About us
Personnel
As one of Bavaria’s major employers and vocational training providers, we appreciate the strategic importance of human resources
development and its role in shaping the success and the future of
our entire organization. We therefore seek to train and advance our
employees wherever we can and to be a family-friendly employer.
The FMG Group’s
employee base contracted slightly
Weathering the economic crisis
The continuing global financial crisis in 2009 left its
mark on our human resources, just as it did in other
areas. However, in spite of the drops in passenger
numbers and aircraft movements, the impact on our
HR capacity was relatively minor. We managed to
avoid actively shedding headcount, and only one of
our units – our subsidiary Cargogate, which serves
the especially hard-hit air freight segment – had to
resort to short-time working.
In total, the FMG Group had 7,366 employees at
December 31, 2009 – 307 fewer than at the end of
the previous fiscal. In light of the economic crisis,
most FMG companies largely avoided replacing natural wastage; a number of our subsidiaries, however,
actually had to increase their headcounts.
HR capacity down slightly
At December 31, 2009, Flughafen München GmbH
had a total of 4,421 employees – 2 percent or 103
fewer than in 2008 – from 51 different countries.
To keep costs down, we began reducing vacation
Just as at other companies in the Group, this drop
backlogs and overtime and were able to reverse
occurred through natural wastage, and people leavaround 50 percent of the financial reserves formed
to cover these obligations. Flughafen München
ing the company were only replaced in exceptional
GmbH’s employees, with their support for these
instances. At yearend, 4,190 employees had unlimmeasures, played a crucial role in protecting our busi- ited contracts; women made up 18.2 percent of the
ness and helping to safeguard jobs at the company.
FMG workforce; and the average employee age was
Breakdown of Flughafen München GmbH personnel costs (€ million)
Wages and salaries (including travel expenses and meal subsidies)
Social security levies, costs of retirement plans and related benefits
Total personnel expense
2009
2008
174.4
177.4
48.1
49.4
222.5
226.8
About us
Personnel
67
42.7 years. Our mean, cost-relevant HR capacity
contracted from 3,941 employee years in 2008 to
3,819 in 2009.
FMG’s personnel expense totaled €222.5 million in
2009 – down €4.7 million year on year, largely as a
result of the drop in human resources capacity.
of Applied Sciences in Frankfurt/Main, launched in
collaboration with other aviation-sector service businesses in 2006, was able to send off its first graduates in August 2009.
Careers orientation
In 2009, FMG organized its sixth “Berufsfit” careers
orientation show at Munich Airport, an event to help
In 2009 FMG again shared its profits with its workyoung people in the region identify a suitable future
force in the form of a performance bonus based on
trade or career track. Eighty companies looking to
the company’s results in 2008. As in the prior year,
take on trainees, plus several schools and universiremuneration included a component determined by
ties, exhibited at the event, presenting more than
personal merit – in other words, bonus payments
280 school and career training and qualification proreflected individuals’ personal performance and
grams. The show attracted around 10,000 visitors.
achievement of targets.
Another example of our activities in this area is our
involvement in the “Arbeitskreis Schule-Wirtschaft
A leader in vocational training
Freising-Erding-Flughafen,” a local business and
With 266 vocational trainees in 2009, the FMG Group education working group that promotes networking
remains one of the region’s foremost career trainbetween schools, companies and trades businesses
ing centers. In September 2009, 79 school-leavers
in the region.
embarked on vocational training programs and workstudy programs with us. Besides vocational training
International exchange programs
in classic trades, we also offer a number of new and International networking, too, is an important focus
innovative training tracks – in event management, for for us. For example, we are actively involved in Airport
example – plus work-study programs culminating in a HR Net Europe, a body that promotes the developBachelor of Science degree (in business IT) or Bachment of efficient and innovative HR management
elor of Arts degree (in aviation management).
tools, and we participate in Europe’s Leonardo da
Vinci education and cultural program. The latter is
Flughafen München GmbH’s Bachelor of Arts in
a two-way exchange program through which vocaAviation Management program at the University
tional trainees and employees at Munich Airport can
An attractive employer
and popular vocational
training provider
Personnel
About us
68
spend time working at European partner airports
like Vienna, Malta, Lisbon, Rome and Athens, and
vice versa.
We also collaborated closely with two sister airports,
Central Japan International (Centrair) and Denver International in 2009, operating exchange programs and
holding workshops for management-level employees.
An award for familyfriendly HR policy
Family-friendly employers
In 2009, FMG subsidiary mucground was audited
by berufundfamilie gGmbH, a non-profit organization devoted to professional and family concerns,
and received an award in recognition of its familyaware human resources policy and initiatives to
ease balancing careers with family life. Another
FMG subsidiary, Aerogate, received its third certificate from the same organization, and parent
company FMG, which was first audited by berufundfamilie gGmbH in 2007, conducted a number of workshops in late 2009 in preparation for
re-auditing.
Focus: Leadership development
One focus of our HR development initiatives at
FMG in 2009 was to consult with managementlevel employees and carefully evaluate their leadership potential. The outcomes of these systematic
assessments and evaluations, which are designed
to provide high potentials with the greatest possible support in their daily work, created the foundations for an onward leadership development
program in 2010.
We also organized workshops and team trainings
for managers in FMG subsidiaries, and conducted
About us
Personnel
69
several assessment centers throughout the FMG
Group to select and groom candidates for future
managerial posts.
The work of an employment advancement circle, set
up as a pilot project in 2007 to prepare high potentials
for management roles, came to an end in 2009 and
concluded with a wrap-up event at which we reviewed
the outcomes and benchmarked our performance
against other airports.
The Academy’s program also included statutory aviation security training for all employees with access
to the airport’s restricted areas as well as basic and
onward training for aviation security officers employed
by CAP Flughafen München Sicherheits GmbH.
In the area of aviation training, which alone accounted
for more than 10,000 attendee-days, the main focus
was on providing basic training to new aircraft handlers working for mucground Services Flughafen
München GmbH.
Reviewing and updating employee qualifications
Given the constant changes in markets and customer requirements, it’s crucial that we regularly
review our employees’ qualifications and offer them
the opportunities they need in order to develop
and advance their knowledge and skills in line with
current needs. We do this through the Munich Airport Academy, which delivers an extensive range
of tailored training and education programs.
New additions to our training offering in 2009 in the
area of human resources and management included
walk-in seminars for self-paced training on industrystandard office software, a modular program on
Munich Airport’s project management procedures
(MAP), information seminars on how to reduce carbon
emissions, and training on updated business administration methods. These additional courses resulted in
a rise in the number of attendee-days of training
delivered to 21,277 in 2009, from 17,384 in 2008.
In appreciation of their services and with sorrow
we remember the following colleagues who passed
away in 2009. They will be sadly missed by their fellow employees.
Joseph Hirsch
Korbinian Heilmeier
Barbara Sagmeister
Peter Fitz
Friedo Bernert
Thomas Scheidler
† February 26, 2009
† March 11, 2009
† April 29, 2009
† November 1, 2009
† December 12, 2009
† December 21, 2009
Developing and advancing our employees and
leaders
Munich
New York
Setting directions. Cities, with their dense diversity,
have consistently inspired new thinking and driven
trends and innovation in everything from business
and finance to art and culture. By networking the
cities of the world, we bring people, markets and
continents closer together and promote progress
and mutual understanding.
FMG consolidated financial statements 2009
FMG consolidated
financial statements 2009
72
Supervisory board’s report
Amended consolidated management report
Amended consolidated balance sheet
Amended consolidated income statement
Amended consolidated cash flow statement
Amended statement of changes in consolidated
equity
Amended annex to the consolidated financial
statements
Independent auditor’s report
The supervisory board was informed regularly and
in detail by executive management through written reports and at meetings about the company’s
situation, its development, and important business
events. On the basis of the reports and the information received, the supervisory board monitored the
management of the company’s business and made
such decisions as it was called upon to make in accordance with its statutory responsibilities.
The year-end accounts as at December 31, 2009,
and the consolidated management report on Flug
hafen München GmbH and its group of companies
presented by executive management have been
audited and approved by Susat & Partner OHG,
the appointed auditors. Having conducted its own
review, the supervisory board accepts the auditors’
findings and raises no objections. In accordance
with Section 42a, Paragraphs 2 and 4 of the Limited
Liability Companies Act (GmbHG) and Section 171,
Paragraph 2 of the Stock Corporations Act (AktG),
the board approves the yearend accounts of Flugha
fen München GmbH and the FMG Group. The supervisory board proposes that the shareholders endorse
the yearend accounts of Flughafen München GmbH
and the FMG Group.
In fiscal 2009, Councilor Dr. Reinhard Wieczorek,
Otto Siegl and Ralf Krüger stepped down from the
supervisory board. The board would like to thank
them for their expert and committed service to the
company.
The supervisory board also wishes to express its
gratitude and respect for the work carried out and
the successes achieved by the company’s executive
management and employees in fiscal 2009.
Munich, July 30, 2010
The supervisory board
Georg Fahrenschon
Chairman
73
Amended consolidated management report for 2009
74
Amended consolidated management
report for 2009
The object of the Flughafen München Group is to
operate Munich Airport and to engage in ancillary
lines of business.
The FMG Group comprises Flughafen München
GmbH and 13 subsidiary companies.
Activities and organizational structure
Munich Airport is one of Europe’s biggest hub airports and currently ranks seventh in Europe based
on total passenger movements. For the purposes of
handling air traffic, Munich Airport has two modern,
highly efficient terminals and two runways, each
4,000 meters long, that are capable of operating
independently.
Flughafen München GmbH, Munich Airport’s
operating company, engages in both aviation and
non-aviation business. Key areas of its non-aviation
business are retail and real estate management
and development; these essentially comprise retail
and hospitality operations, real estate planning and
construction, airport parking and related technical
services, information technology, security, and
general services.
Flughafen München GmbH is organized functionally in central, business and support divisions. The
business divisions operate and generate revenues
independently within their respective markets,
whereas the support divisions primarily operate
internally and provide the business divisions with
professional expertise and specialized services.
The central divisions are responsible for the overall
control of the airport.
General economic environment and situation in
the industry
The major factor defining the global business environment in 2009 was the economic and financial
crisis – the largest since 1945. According to recent
forecasts, the recession appears to have bottomed
out, and the global economy should see a return to
growth in 2010.
After dramatic declines in traffic in 2009, the German Airports Association (ADV) has reported an
upward trend in passenger and air cargo demand in
2010.
Like other airports, Munich Airport saw demand
drop off sharply in 2009, most prominently in the
business travel segment, which contracted rapidly,
prompting carriers to reduce their numbers of
routes and service frequencies in domestic and
European networks. By contrast, demand and traffic in the intercontinental market at Munich Airport
remained flat, at the prior year’s high level. This had
a stabilizing effect overall in fiscal 2009.
The steep decline in traffic registered in the year’s
first six months began to ease in the third quarter,
and by the final quarter volumes had steadied off
at roughly the same level as in 2008, indicating
that the worst was over. We expect to see demand
increase further as 2010 progresses, though growth
is likely to remain muted.
In fiscal 2009, carriers operated air services on a
regular basis to a total of 235 destinations in 69
countries. The number of transfer passengers as
75
a proportion of the total passenger volume grew
slightly year on year, to 37.0 percent. This renewed
gain in our transfer volume is a clear sign that
Munich Airport’s importance as an aviation hub is
increasing.
To drive and sustain our hub-and-spoke traffic and
capitalize on growth opportunities in this segment,
Munich Airport urgently needs a third runway. The
process of zoning approval for the new runway is
now at an advanced stage, and we expect it to be
granted by the end of 2010.
Business trends and earnings
Munich Airport’s total passenger movements in
2009 were down by 5.4 percent year on year, at
32.7 million.
This sizeable drop in traffic, a direct result of the
ongoing global financial and economic crisis, was
spearheaded by a rapid cooling of demand for
business travel that a concurrent marginal gain in
private travel was unable to offset. The number of
business travelers as a percentage of the total passenger volume dropped six percentage points to 45
percent, whereas the number of private travelers
grew to 55 percent.
In an effort to curb continuing high losses in our
Ground Handling division, Munich Airport’s executive management has been working closely with
the labor unions and the works council for some
time to find a solution for overcoming the division’s
structural disadvantages compared to competing
ground services operators. Given that negotiations
have failed to reach a successful outcome and the
fact that a number of contracts for the provision
of handling services have been terminated, there
is a risk that FMG could gradually lose significant
market share in this area. In an effort to end the
division’s loss-making situation, we now intend only
to conclude handling contracts on terms that enable
Ground Handling to cover costs. On account of the
inconclusive state of negotiations and the foreseeable loss of market share, the company formed a reserve of €111.4 million for the division in fiscal 2009.
In light of the economic crisis and the slower rates
of traffic growth that we expect to see in its wake,
we reviewed and adjusted our economic plan for
the year during the summer of 2009 to address the
effects of the negative business growth in fiscal
2009. The revised plan assumed a decline in passenger numbers and an attendant drop in revenue
and earnings of 4.9 percent.
Based on passenger numbers, Munich Airport
ranked seventh among Europe’s leading aviation
hubs in 2009, successfully retaining its prior-year
position. The drop in the number of transfers – 3
percent – was significantly less than the overall
drop in passenger numbers. As a result, transfers as
a percentage of total passenger movements were
higher in 2009, up 1 percentage point compared to
2008, at 37 percent.
The number of takeoffs and landings in the commercial and non-commercial segments in 2009
was down 8.2 percent year on year, at 396,805.
This drop was significantly steeper than the decline
in the number of passenger movements because
airlines combined flights and started serving routes
76
with larger aircraft in order to cut costs. The mean
maximum takeoff mass of aircraft operating in
Munich increased from 66.1 to 68.2 metric tons.
The cargo sector was hit much harder by the economic crisis than the passenger sector. In 2009 the
volume of cargo handled at Munich Airport slipped
to 229,095 tons, down 30,550 tons or 11.8 percent
on 2008. This sharp fall in cargo was consistent
with the wider situation in the goods transportation
industry throughout Germany which, according to
figures released by the Federal Statistical Office,
shrank 11.2 percent in 2009.
Significant other operating expense and interest,
less the reserve formed for the restructuring of
Ground Handling, accounted for €219.1 million or
19.8 percent of total pre-tax costs.
Our financial income result improved by €37.4 million to negative €86.9 million in 2009, from negative
€124.3 million in 2008 (including €43.5 million in
interest on shareholder loans, compared to
€10.4 million in 2009). This improvement year on
year was due primarily to a €36.7 million decrease
in interest expense.
Depreciation across the Group totaled €124.9 million.
Group net sales in fiscal 2009 totaled €981.3 million,
down 6.0 percent year on year, as the general
decline in traffic impacted significantly on both
aviation and non-aviation earnings. The changes in
Group sales and earnings are reviewed below in
the sub-section headed “Group business activities.”
Materials expense in 2009 was €18.7 million or
6.5 percent lower compared to a year earlier, at
€268.2 million.
Reductions in human resources capacity at a
number of units within the Group, as well as efforts
to reduce overtime backlogs and flextime credit,
brought personnel expense down €4.8 million year
on year, to €309.3 million.
Our accounts for fiscal 2009 include a reserve
formed in connection with the need to restructure
the Ground Handling division. This is reported as an
extraordinary charge of €111.4 million.
The FMG Group generated a net loss of €1.4 million in
fiscal 2009.
Group business activities
The FMG Group’s various businesses are assigned
organizationally to Aviation, Ground Handling, Retail
and Services, Corporate Real Estate Management
and Development, and central and support divisions
Aviation and Ground Handling
The Aviation and Ground Handling divisions are
responsible for handling all of Flughafen München
GmbH’s air traffic. All of the FMG subsidiaries
involved in handling air traffic are assigned organizationally to these divisions. Due to the decline in traffic
in fiscal 2009, sales in this segment were down 7.0
percent on 2008, at €511.9 million. Earnings after
taxes totaled negative €70.2 million. A significant
extraordinary factor in this result was the formation of
a reserve for the restructuring of Ground Handling.
77
Sales in Aviation and Ground Handling were €38.8
million lower year on year, driven down by the drop
in the volume of traffic and intense competitive pressure in the ground services marketplace.
Retail and Services
Units assigned to this division are the FMG subsidiaries
eurotrade Flughafen München Handels-GmbH, Allresto
Flughafen München Hotel und Gaststätten GmbH
and MediCare Flughafen München Medizinisches
Zentrum GmbH, as well as Flughafen München
GmbH’s parking business.
Eurotrade operates 76 retail units with a total floor
space of 12,554 square meters. In 2009, its net sales
dropped by 3.4 percent to €142.4 million, from €147.4
million a year earlier. Given the 5.4 percent decline in
passenger traffic, the company’s sales per passenger
were both stable and positive.
Allresto is responsible for the airport restaurants, canteens and hotel. The overall fall in passenger numbers
plus massive curbs by businesses on booking conference and hotel facilities caused sales to plunge 14.0
percent to €63.8 million in 2009.
As air traffic declined, so did parking fee revenue,
contracting 5.1 percent or €3.5 million in 2009 to
€63.1 million.
In fiscal 2009, the entire Retail and Services division
generated €269.9 million in sales, down 4.0 percent
on 2008. Aggregate EAT totaled €21.7 million.
Corporate Real Estate Management and
Development
This division is essentially responsible for marketing
the real estate needed to operate the airport. It contributed €170.5 million in sales and an EAT of €46.8
million to the Group’s overall result.
Support and central divisions
These divisions fulfill a supporting role that enables
the Group’s various different units to operate profitably and efficiently and to serve their customers
effectively. They unite expertise and information
across the entire Group. They also develop strategies,
recommend courses of action, and provide services
to the whole of the Group. In 2009 they contributed
€29.0 million in sales and an EAT of €0.3 million to the
Group’s overall result.
78
Asset and capital structure
December 31, 2009
December 31, 2008
€ million
%
€ million
%
0.1
0.0
0.1
0.0
Assets
Unpaid contributions to capital stock
Intangible assets
2.9
0.1
3.4
0.1
Tangible assets
2,782.8
94.3
2,821.0
95.2
Financial assets
Fixed assets
3.8
2,789.5
0.1
94.5
3.1
2,827.5
0.1
95.4
Inventories
65.0
2.2
65.0
2.2
Receivables
75.5
2.6
64.1
2.1
Liquid assets
17.4
0.6
5.5
0.2
157.9
5.4
134.6
4.5
3.6
2,951.1
0.1
100.0
2.3
2,964.5
0.1
100.0
Capital stock
442.1
15.0
443.6
15.0
Shareholder loans
491.9
16.7
491.9
16.6
Long-term debt
1,483.9
50.3
1,437.1
48.5
Short-term debt
Total assets
533.2
2,951.1
18.0
100.0
591.9
2,964.5
19.9
100.0
Current assets
Prepaid expenses and deferred charges
Total assets
Capital
Total assets in comparison with December 31 of
the prior year were €13.4 million lower at €2.951
billion. The reasons for this drop in total assets are
explained below.
Group fixed assets were down €38.0 million year on
year at €2.789 billion. Depreciation totaled €124.9
million, compared to asset additions of €90.5 million.
Additions of €88.1 million to tangible assets mainly
fell into two categories: plots of land, and construction in progress and advances on fixed assets. The
additions essentially consisted of land purchases
in connection with the project to build the airport’s
third runway. The €723 thousand increase in financial assets, to €3.783 million, is the result of an atequity valuation of associated companies included
in the consolidated financial statements.
Current assets increased by €23.3 million in total in
2009, but year-on-year changes varied from asset
class to asset class: Trade receivables and other
assets grew €11.4 million, and liquid assets rose by
€11.9 million. Inventories, however, were unchanged
year on year.
79
The change in equity of negative €1.5 million is the
result of Group net losses for the year to the same
amount. Shareholder loans remained at their prioryear level of €491.9 million.
Compared to the prior fiscal, accruals in 2009 were
€83.8 million higher at €309.5 million. This was
largely the result of the formation of the reserve
for the restructuring of our Ground Handling division. By contrast, accruals formed for anticipated
losses were €30.4 million lower in total than in 2008.
The FMG Group’s liabilities in 2009 totaled €1.682
billion, down €116.6 million in comparison with the
prior year. Liabilities of €43.5 million to the corporate parent’s shareholders in loan interest from
fiscal 2008 were paid back in full. However, new
interest of €10.4 million on shareholder loans accrued in 2009. Liabilities to banks were reduced by
€64.6 million to €1.558 billion, out of cash flow.
Trade payables in 2009 were €17.5 million lower than
in 2008. However, liabilities to associated companies were €1.2 million higher, at €1.6 million. The rise
in this class of liabilities is largely due to an increase
in services purchased from EFM.
Financial situation
Cash flow from operations, most of which originated from the Group’s corporate parent, provided
sufficient financial resources to ensure the Group’s
liquidity at all times during fiscal 2009. The Group’s
companies are all part of a cash pool formed for
financing purposes. Capital spending in fiscal 2009
was funded entirely through operating cash flow. In
addition, the Group further reduced the size of its
bank debts.
Risks
The FMG Group’s system of risk management is
designed to identify and gauge potential risk facing
the enterprise and covers all of its operational and
strategic business processes. Risks are assessed
based on the likelihood of occurrence and on quantification of the scale of impact in the event of an
occurrence. The primary goal of risk management
is to take a controlled approach to risk and to define
preventive measures to avoid it.
All risk information is processed internally on a quarterly basis to enable executive management and
division heads to respond swiftly and effectively to
shifts in risk scenarios. When the need arises, management responds immediately to new or changing
risk situations. The latest risk reports are also made
available to the members of the supervisory board
on a regular basis.
To ensure thorough observance of laws and ordinances as well the company’s own internal rules
and guidelines, FMG’s executive management took
steps to firmly embed compliance principles into
business processes and the Group’s general corporate and management culture during the past year.
Compliance is a fundamental part of business integrity and central to managing our business sustainably.
We are continuously refining the code of business
conduct and principles of legally compliant and ethical
employee behavior that we first published in 2008.
FMG’s management is also working closely with
in-house auditors to reframe existing rules more
precisely, to introduce new standards, and to monitor compliance with these rules and standards.
80
To minimize possible financial damage, the FMG
Group has insurance for appropriate amounts covering key areas of potential loss and liability.
Our security subsidiary faces legal proceedings
that could entail back payments of taxes and social
security contributions. This presents a degree of
risk inasmuch as FMG has issued a declaration of
backing for the subsidiary in order to avert a potential balance-sheet insolvency. It is impossible at this
time to predict the outcome of the proceedings.
In 2009, the restructuring of our Ground Handling
division and attendant issues were rated as a
significant internal risk for FMG and scrutinized in
detail as part of our reporting process. Restructuring
has been underway at the division for several years
Financial risks, including risks issuing from various
now; however, it continued to make a loss in 2009 in financial instruments (derivatives, and the managespite of major progress on restructuring.
ment of receivables, liabilities and financial assets)
are reviewed at regular intervals and assessed with
The most significant external risk identified in 2009
regard to current price changes and to default and
was the cooling of the economy. This increased
liquidity risks. Derivative financial instruments are
in scale as the year progressed. The effects on
now only employed as an interest rate and curFlughafen München GmbH were tracked and
rency risk hedge, and require the express approval
reviewed in our risk reporting. Additional external
of executive management. The total hedge amount
risks assessed – with a low likelihood of occurrence is set at FMG Group shareholder meetings.
but a potentially severe economic impact – included
acts of terror, natural disasters, air accidents and
Opportunities and growth projects
their consequences, and the loss or impairment of
Now that the overall economic climate has
the airport’s ability to function as a hub.
improved significantly and there has been a noticeable increase in demand in the aviation sector, the
Other risks, such as possible industrial action, the
outlook for continued hub traffic growth at Munich
discontinuation of operations or the reduction of
Airport in the intermediate and longer term looks
service frequencies by airlines, the loss of market
promising. To make the most of the opportunities
share to competing ground services operators, or
for growth that are emerging, the airport urgently
the migration of passengers to regional airports
needs a third runway. We expect the current zoning
were also taken into account in our system of risk
process to result in a grant of approval during the
management.
course of 2010. This will enable us to systematically
advance the expansion programs that are crucial to
Besides the possibility of efforts to turn our
our airport’s continued development.
Ground Handling division not succeeding, which
would impact substantially on FMG’s future growth Regardless of current forecasts, future scenarios
as a business, we can identify no further risks to
and the traffic growth projected for the decades
continuity.
ahead, the airport already needs a third runway
81
now. Our present capacity with our two-runway
system, which allows us to schedule 90 takeoffs
and landings and hour, is by no means sufficient
to cover airlines’ current needs. Munich Airport is
already operating at the limits of its capacity, and
carriers could readily use as many as 110 slots for
as much as eight to ten hours a day if they were
available.
Besides additional runway capacity, Munich Airport
also needs more contact stands at terminals and
more passenger-handling resources in order to
accommodate its growing hub traffic.
To address these needs, we are planning to build a
satellite on the east apron as an extension to Terminal 2 in collaboration with Lufthansa. The satellite
will be connected to the terminal via an underground people moving system. Preliminary planning was completed in 2009, and the project has
now progressed to the design phase. In its initial
form, the satellite will provide us with 27 additional
contact stands and the capacity to handle a further
11 million passengers annually.
With the opening of the Accor group’s new Novotel
hotel in May 2010, a facility in the medium-price
segment with around 250 rooms, the airport now
has additional overnight capacity on campus for air
travelers besides the Kempinski Airport Hotel.
Strategy and sustainability
Munich Airport ranks as one of Europe’s foremost
aviation hubs. The FMG Group’s success as an
enterprise is the result of its ability to operate
efficiently, to sustain business momentum and to
focus rigorously on profitable growth.
The airport’s ratings in worldwide customer surveys (by Skytrax) are an affirmation of our business
strategy. Like many other companies, though, FMG
is also aware of its responsibilities as a corporate
citizen and works to unite its business success
with sound environmental practices (the sustainability principle).
In many areas, the Group already operates in line
with the principle of sustainability. One important
milestone in this context was FMG’s first sustainability report, published in 2009.
The sustainability report gives equal coverage
to the company’s environmental and business
performance and its social and societal initiatives,
and underscores FMG’s commitment to sustainability as a foundation for continuous and viable
long-term development. Covering the 2008 fiscal
year, the report contains sections on the company
and governance, environmental and climate protection, the workforce and work environment, social
and stakeholder engagement, and the airport’s
region and local communities. It provides a clear
and transparent account of a wide range of sustainability activities and measures conducted in the
review year, and describes various initiatives aimed
at achieving our strategic sustainability targets.
For the FMG Group, sustainability is nothing new.
Active environmental protection, the growth and
advancement of our employees and leaders, and
engagement with our neighboring communities
and surrounding region have all been fundamental
to our corporate policy for many years now. As the
report clearly shows, dialogue with stakeholder
groups is also of exceptional importance for us.
82
Sustainability today is a core objective of the
FMG Group and has a firm place in our corporate
strategy. In 2008, for example, we set ourselves
the target of achieving carbon-neutral growth from
2020, taking 2005 as our baseline year. Keeping our
carbon emissions flat in spite of plans to expand
the airport may be an ambitious goal, but we have
defined an extensive catalog of internal measures
aimed at protecting the environment and cutting
our energy consumption and costs. One initiative
is to ensure that carbon emissions from our new
buildings are around 40 percent below those of our
current buildings; another is to optimize heat insulation and energy efficiency at existing structures
on the airport campus.
Human resources
In spite of the impacts of the economic crisis and
an 8 percent drop in the number of takeoffs and
landings at Munich Airport, the FMG Group managed to avoid shedding headcount. However, in
January 2010, our Ground Handling division lost
a major customer and a significant share of the
ground services market. Back in 2005, Flughafen
München GmbH had contracts to provide around
90 percent of ground services, but in 2011, our
market share will drop to just 65 percent. Another
airline company has also announced plans to
purchase at least a quarter of its handling services
from a third-party operator.
Due to our lack of a competitive cost base in the
ground services sector, we assume that Ground
Handling will continue to lose market share. However, negotiations are continuing, and our aim is to
implement a competitive cost structure by 2011,
not least in an effort to preserve jobs. Nonetheless,
the loss of share means that the airport will have to
reduce its headcount by around 500 people in 2010.
During the past fiscal, we continued to implement
and advance our comprehensive program of occupational health management. In recognition of
these efforts we again received an award, this time
in November 2009, from the firm of consultants TG
LifeConcept GmbH in association with Bavaria’s
social welfare ministry. With this award, Flughafen
München GmbH now ranks as “the fittest company
in Bavaria.”
We also expanded our family and careers project
within the FMG Group. Now titled “befamily!
2013,” the project aims to help employees balance
their jobs and family life even better than before.
To this end, we defined a raft of specific measures,
and these will be tracked continuously by berufundfamilie gGmbH, a not-for-profit organization
devoted to professional and family concerns.
In 2009, the FMG Group kept up its citizenship
initiatives to promote training and education in
the region in spite of the economic crisis. These
included organizing “berufsfit,” a careers orientation show for school students at which numerous
businesses in the surrounding area presented their
training offerings for school-leavers.
In the area of employee training, our primary challenge in 2009 was to instruct our entire workforce
on aviation security and related legal requirements.
The training was delivered partly through webbased media and partly through classroom tuition
83
(for those employees who do not work at personal
computers), and succeeded in reaching close to
100 percent of the workforce.
government, the official body responsible for issuing the requisite zoning approval, has now received
an expert report prepared by the Hamburg Institute
of International Economics (HWWI), which includes
Notable events after the end of fiscal 2009
forecasts concerning the overall development in
As a result of a court ruling issued on May 28, 2010, the economic situation. The purpose of this report
certain parameters applied in valuating the reserve is to help assess the extent to which the current
formed for our Ground Handling division may be
economic crisis will impact on the economic data
reappraised for reasons of comparability. Although framework on which the demand forecast for the
we have appealed against this ruling and have
third runway is based.
sought remedial action, executive management
elected to amend the 2009 yearend financial state- HWWI’s researchers state in the report that Germents – in spite of the fact that these had already
many’s economy has moved back into a phase of
been reviewed and fully approved by the appointed growth that will continue in the years ahead – an
auditors on May 21, 2010 – and to re-valuate the
assessment consistent with those issued by other
reserve for Ground Handling on the grounds that
leading economic research organizations. All three
the ruling has potentially significant implications for scenarios presented in the HWWI report point to a
it. The size of the reserve was adjusted accordingly steady upward trend through to 2020 and a positive
to €111.4 million.
outlook through to 2025. In the report’s baseline
scenario, the one HWWI’s experts consider to be
Outlook
the most likely, Germany’s economy will grow at
With its current two-runway system, Munich
an annual rate of 1.3 percent, on average, between
Airport is no longer in a position to cover airlines’
2005 and 2010. This already takes into account
demand for slots in peak periods, which means
negative growth of 5 percent in 2009. This means
that lengthier waits for aircraft at runway heads are that growth in the next few years will likely be
now unavoidable. Back in 2005, FMG’s shareholdhigher accordingly – 1.7 percent on average from
ers approved plans to build a third runway in order
2009 to 2020.
to redress the foreseeable capacity problems we
would encounter with the two-runway system.
In addition, a discussion of the potential impact
of future increases in oil prices shows that this
Flughafen München GmbH will pursue a course
is a factor that will only influence demand for air
of strategic expansion aimed at enabling Munich
transport services to a limited degree. Since the
Airport to participate in the aviation-sector growth
opening of Munich Airport in May 1992, the price of
predicted for the years ahead. Our key expanoil has risen 215 percent and has not caused passion project at present is the construction of the
senger numbers to drop. On the contrary, the numairport’s third runway. Upper Bavaria’s regional
ber of air travelers at Munich Airport has increased
by roughly 170 percent over the same period.
84
The findings published in the new expert report
have been incorporated into calculations conducted
by traffic forecast specialists Intraplan to model
future aviation-sector growth. Their calculations
have confirmed the fundamental level of aviation
demand that we aim to meet by expanding our
facilities. However, based on the new HWWI forecast data, traffic will likely not reach the volume
originally predicted for 2020 until a few years later
– probably 2024 or 2025.
To be ready and equipped for the business and
financial challenges associated with our expansion
program and to address the impacts of the global
financial and economic crisis, Flughafen München
GmbH has launched JUMP, a new program to
improve earnings. JUMP’s aim is to optimize revenue, expense and costs in order to boost the FMG
Group’s earning power and create the solid financial foundation we need to fund future expansion
projects internally.
We expect that the Upper Bavarian regional govern- Now that the project to build a Transrapid maglev
ment will grant zoning approval for the third runway rail link between Munich Airport and the city’s Central Station has fallen through, we have stepped up
before the end of 2010.
other efforts to improve the airport’s transport conBesides additional runway capacity, Munich Airport nections. An expert review commissioned by the
Bavarian Ministry for Economic Affairs, Infrastrucalso needs more contact stands at terminal buildture, Transport and Technology has addressed the
ings and more passenger handling resources in
need to create a high-speed link to downtown
order to process hub traffic efficiently in the years
Munich as well as connections to the national
ahead. To meet these requirements, we are plantransportation infrastructure, including, in the lonning to build a satellite to expand Terminal 2’s
ger term, the country’s mainline rail network. The
capacity. The satellite is a separate passenger hanprimary priorities are to provide a high-speed rail
dling facility, to be located on the east apron and
link to Munich’s Central Station, to add a connecconnected to the current terminal via an undertion via a second commuter rail artery, and to comground people moving system. Preliminary planning for the new structure was completed in 2009, plete the Erding circle line. The state government,
and the project is now in the design phase. Accord- the Bavarian parliament and Munich city council
have all now approved the proposed solutions, paving to current plans, the satellite, in its initial form,
ing the way for project planning and negotiations
should be completed and ready to go into service
with the federal government on project financing.
in 2014 or 2015.
85
Given the signs of economic recovery, we expect
to see renewed growth in passenger numbers in
fiscal 2010. During the 2010 summer season, our
offering of flights will expand to include services to
Singapore, Tokyo and a daily flight to Newark (near
New York City). Other new destinations in the summer timetable include Miami, Teheran and Tashkent, all served by Lufthansa. The carrier is also
stepping up frequencies on its routes to South
Korea and Tirana. As of May 2010, Munich Airport
has a new 250-room, medium-price-segment hotel
operated by Novotel to complement the Kempinski
Airport Hotel and provide additional on-site overnight capacity for air travelers.
Based on cautiously optimistic forecasts, we expect
a return in the near future to rates of growth typical
for Munich Airport in recent years.
We expect the improvement in the overall economic environment during 2010 to remain muted
and assume that passenger traffic will only recover
slowly as a result. In our business plan for 2010, we
estimate that passenger movements will increase
by 3.4 percent.
In light of the gradual economic recovery anticipated, we expect to report a profit in fiscal 2010.
Dr. Michael Kerkloh
Walter Vill
We are still in negotiations with employee representatives and airlines about the future of our Ground
Handling division. Although the framework conditions
remain difficult, executive management and FMG’s
shareholders are keen to find a solution that will
enable the division to continue operating, albeit
in a reorganized, restructured and smaller form.
Thomas Weyer
86
as at December 31, 2009
Assets
€
A. Outstanding contributions to subscribed capital
Dec. 31, 2009
2008
€
€ thousand
110,249.25
110
B. Fixed assets
I. Intangible assets
1. Franchises, intellectual property, and similar rights
2. Advances on tangible assets
2,918,699.42
3,203
0.00
155
2,918,699.42
3,358
II. Tangible assets
1.Land, rights similar to land, and buildings, including
buildings
2. Technical equipment and machinery
3. Other equipment, plant and office equipment
46,102,026.06
45,754
4. Construction in progress and advances on fixed assets
85,744,816.08
114,692
III. Financial assets
1. Investments in associated companies
2. Other loans
2,330,829,579.72
2,305,422
320,158,683.68
355,169
2,782,835,105.54
3,375,226.13
2,821,037
2,558
408,007.98
502
3,783,234.11
3,060
2,789,537,039.07
2,827,455
C. Current assets
I. Inventories
1. Substitute plots of land
2. Raw materials and supplies
3. Finished goods and goods for resale
II. Receivables and other current assets
1. Trade accounts receivable
2. Receivables from associated companies
3. Other current assets
III. Liquid assets
34,358,908.17
34,124
5,880,085.30
5,271
24,750,813.09
25,563
64,989,806.56
D. Prepaid expenses
44,891,133.75
64,958
42,005
152,489.48
1,151
30,440,485.59
20,952
75,484,108.82
64,108
17,383,215.35
5,484
3,595,355.31
2,346
2,951,099,774.36
2,964,461
87
Liabilities and equity
€
Dec. 31, 2009
2008
€
€ thousand
A. Equity
I. Subscribed capital
306,776,000.00
306,776
II. Capital reserves
102,258,376.24
102,258
III. Earnings reserves
7,983,900.23
7,984
15,109
Other reserves
IV. Consolidated net profit
13,576,640.98
V. Minority interests
11,480,706.45
B. Shareholder loans
11,429
442,075,623.90
443,556
491,912,735.89
491,913
C. Accrued liabilities
1. Pension accruals
13,807,114.00
2. Tax accruals
40,717,353.00
43,284
3. Other accruals
255,023,291.24
169,285
13,121
309,547,758.24
225,690
D. Liabilities
1. Liabilities to shareholders
2. Liabilities to banks
3. Trade accounts payable
4. Liabilities to associated companies
5. Other liabilities
E. Deferred income
10,405,246.14
43,492
1,558,454,908.37
1,623,079
43,075,094.67
60,588
1,578,998.23
372
69,054,450.30
71,609
1,682,568,697.71
1,799,140
24,994,958.62
4,162
2,951,099,774.36
2,964,461
Amended consolidated income statement
88
Amended consolidated income statement for the
period from January 1 to December 31, 2009
€
1. Net sales
2. Other capitalized labor, overheads and material
3. Other operating income
2009
2008
€
€ thousand
981,293,070.62
1,043,691
8,792,088.37
8,720
64,421,136.96
50,875
1,054,506,295.95
1,103,286
4. Material expense
a)Supplies and raw materials
- 139,336,067.28
b) Purchased services
- 128,837,632.13
- 143,236
- 143,679
- 268,173,699.41
- 286,915
5. Personnel expense
a) Wages and salaries
b)Social security, pension costs
and support
- 246,932,958.11
- 250,667
- 62,390,811.35
- 63,440
of which pension costs
€17,254,810.96 (2008: €16.781 million)
- 309,323,769.46
- 314,107
6. Depreciation, amortization and write-downs
on intangible assets and property, plant and
equipment, and on capitalized startup and
business expansion expenses
- 124,868,345.86
- 124,400
7. Other operating expense
- 251,163,475.29
- 231,729
- 953,529,290.02
- 957,151
100,977,005.93
146,135
8. Income from investments in associated companies
1,412,072.51
997
9. Other interest and similar income
1,336,920.58
1,108
10. Interest and similar expense
- 89,664,704.39
- 126,427
- 86,915,711.30
- 124,322
11. Income from ordinary activities
14,061,294.63
21,813
12. Taxes on earnings
- 5,474,955.29
- 6,923
13. Other taxes
- 1,859,020.43
- 1,191
14. Losses absorbed under profit-and-loss transfer agreements
- 8,174,264.00
- 9,657
15. Consolidated net loss (2008: net income)
- 1,446,945.09
4,042
16. Minority interest in consolidated net result
17. Transfers to retained earnings
18. Consolidated profit carried forward
19. Consolidated net profit
- 85,743.15
- 46
0.00
- 141
15,109,329.22
13,576,640.98
11,254
15,109
for fiscal 2009
89
2009
2008
€ million
€ million
- 1.4
4.0
124.9
124.4
Increase in medium- and long-term accruals
74.0
33.1
Income from closing a constant maturity swap
- 4.7
0.0
192.8
161.5
Financial resources
Consolidated net income
Depreciation, amortization and write-downs on fixed assets and
on capitalized startup expenses
Cash earnings according to DVFA/SG
Increase in short-term accruals
9.8
14.9
Profit (2008: loss) from the retirement of assets (on balance)
- 0.3
0.1
Increase (2008: decrease) in inventories, trade receivables and other assets
not booked under investment or financing activities
- 6.2
6.2
Decrease (2008: increase) in trade payables and other liabilities
not booked under investment or financing activities
- 31.1
31.8
Cash flow from operating activities
165.0
214.5
Proceeds from the sale of noncurrent assets
Capital expenditure
Expenditure on short-term, non-bank cash investments
Cash flow from investment activities
Proceeds from closing a constant maturity swap
Payments to minority shareholders
1.0
7.1
- 87.6
- 121.4
- 6.5
0.0
- 93.1
- 114.3
4.7
0.0
- 0.1
0.0
Proceeds from financing loans
0.0
10.0
Repayment of financing loans
- 64.6
- 121.1
Cash flow from financing activities
- 60.0
- 111.1
11.9
- 10.9
5.5
16.4
17.4
5.5
Change in cash and cash equivalents
Cash and cash equivalents at start of period
Cash and cash equivalents at end of period
Amended statement of changes in consolidated equity
90
Amended statement of changes
in consolidated equity
Parent company
Minority
shareholders
Subscribed
capital
Capital
reserve
Consolidated
retained
earnings
Equity
Minority
capital
Consolidated
equity
€
€
€
€
€
€
At Jan. 1, 2008
306,776,000.00
102,258,376.24
19,090,184.95
428,124,561.19
11,533,451.51
439,658,012.70
Other changes
0.00
0.00
6,760.00
6,760.00
- 6,760.00
0.00
Dividends
0.00
0.00
0.00
0.00
- 144,148.00
- 144,148.00
Consolidated comprehensive income
0.00
0.00
3,996,284.50
3,996,284.50
46,236.92
4,042,521.42
At Dec. 31, 2008
306,776,000.00
102,258,376.24
23,093,229.45
432,127,605.69
11,428,780.43
443,556,386.12
At Jan. 1, 2009
306,776,000.00
102,258,376.24
23,093,229.45
432,127,605.69
11,428,780.43
443,556,386.12
Other changes
0.00
0.00
0.00
0.00
0.00
0.00
Dividends
0.00
0.00
0.00
0.00
- 33,817.13
- 33,817.13
0.00
0.00
- 1,532,688.24
- 1,532,688.24
85,743.15
- 1,446,945.09
306,776,000.00
102,258,376.24
21,560,541.21
430,594,917.45
11,480,706.45
442,075,623.90
Consolidated comprehensive income
At Dec. 31, 2009
Amended annex to the 2009 consolidated financial statements
Amended annex to the 2009 consolidated
financial statements
I. General notes to the consolidated financial
statements
The consolidated financial statements of Flughafen
München GmbH, which had already received
the appointed auditors’ unqualified approval and
certificate on May 21, 2010, were amended following a significant court ruling affecting a number of
parameters applied in the valuation of the financial
reserve formed for the restructuring of the Ground
Handling division.
An expert review of the valuation commissioned by
Flughafen München GmbH confirmed both the applicability of the facts and circumstances addressed
in the court ruling and the correctness of the valuation of the reserve for the Ground Handling division.
In light of these new findings, the consolidated
financial statements of Flughafen München GmbH
have been amended by executive management
subsequent to the receipt of the appointed auditors’ unqualified approval on May 21, 2010, and the
new information taken into account in the valuation
of the reserve for the restructuring of the Ground
Handling division.
Flughafen München GmbH (FMG), Munich, manages and coordinates all of the businesses in the
FMG Group. FMG, as the parent company, has
therefore published consolidated financial statements and a consolidated management report for
the FMG Group for fiscal 2009 in accordance with
Section 290, Paragraph 1 of the German Commercial Code (HGB).
1. Scope of consolidation
The consolidated financial statements also cover
the following subsidiaries in addition to corporate
parent FMG:
− aerogate München Gesellschaft für Luftverkehrsabfertigungen mbH (aerogate), Munich
− AeroGround Flughafen München Aviation Support
GmbH (AeroGround), Munich
− Allresto Flughafen München Hotel und Gaststätten GmbH (Allresto), Munich
− CAP Flughafen München Sicherheits-GmbH
(CAP), Freising
− Cargogate Flughafen München Gesellschaft für
Luftverkehrsabfertigungen mbH (Cargogate),
Munich
− eurotrade Flughafen München Handels-GmbH
(eurotrade), Munich
− Flughafen München Baugesellschaft mbH
(FMBau), Oberding
− FM Terminal 2 Immobilien-Verwaltungsgesellschaft mbH & Co oHG (IMMO), Oberding
− FMV - Flughafen München Versicherungsvermittlungsgesellschaft mbH (FMV), Freising
− MediCare Flughafen München Medizinisches
Zentrum GmbH (MediCare), Oberding
− Terminal 2 Betriebsgesellschaft mbH & Co oHG
(T2BG), Oberding
− Beteiligungsgesellschaft mbH der FMG
(BetFMG), Freising
− mucground Services Flughafen München GmbH
(mucground), Freising
The yearend accounts of all of the fully consolidated
companies are dated December 31, 2009, and have
received the full and unqualified approval of the
appointed auditor.
91
92
2. Principles of consolidation
In fiscal 2009, capital consolidation was conducted
using the fair-value method in accordance with
Section 301, Paragraph 1, Item 2 of the German
Commercial Code (HGB).
As in the prior year, assets and liabilities were valuated
in accordance with German Accounting Standards
(DRS), Section 4, “Company acquisitions in consolidated accounts.”
EFM – Gesellschaft für Enteisen und Flugzeugschleppen am Flughafen München mbH, Freising,
and Bayern Facility Management GmbH, Munich, are
reported as associated companies at the value of the
proportionate interest in their respective net worth.
The two companies were initially consolidated as
follows at the value of the proportionate interest in
their respective net worth as per Section 312, Paragraph 1, Item 2 of the German Commercial Code:
EFM at December 31, 1992, and Bayern Facility
Management GmbH at December 31, 2004. EFM’s
fiscal year runs from October 1 to September 30.
Sales, expenses, earnings, receivables and liabilities
within the group of consolidated companies are set
off against one another. In fiscal 2009, income from
construction projects – comprising €0.5 million for
FMG with IMMO, €2.5 million for FMG and FMBau
with T2 BG oHG, and €0.3 million for T2 BG oHG and
FMBau with FMG – was booked to other capitalized
labor, overheads and material for the Group and written down accordingly.
II. Accounting and valuation principles
1. Tangible and intangible assets
Changes in Group assets are presented separately.
Tangible and intangible assets are valuated at their
original cost or at their mandatory capitalized cost
of production in accordance with statutory fiscal
requirements. Assets with a limited useful life are
written down over their anticipated overall service
life as per the write-down tables for airport operating
companies.
The difference between the additional depreciation
recorded by Flughafen München GmbH and by FM
Terminal 2 Immobilien-Verwaltungsgesellschaft mbH
& Co oHG in the accounts prepared for tax purposes
and the accounts prepared for financial reporting purposes in fiscal 2009 totaled €24.9 million. This concerns buildings as per Section 7, Paragraph 4, Item 1
of the German Income Tax Code that are operating
business assets and are non-residential in character
– essentially, buildings belonging to the passenger
handling facilities.
In accordance with current fiscal regulations, assets
costing between €150 and €1,000 are grouped into
collective items and depreciated over a period of five
years according to the straight-line method, regardless of the assets’ actual useful life.
93
2. Financial assets
Investments in associated companies are stated
at an amount equal to the proportion of the equity
stake held in these companies.
Other financial assets are stated at the lower of
cost or fair value.
Low-interest employer loans are stated at their
nominal value at the balance-sheet date.
3. Current assets
Inventories are mostly stated at their weighted
average cost for the past three months and are
written down at the lower of cost or fair value to
cover risks arising from slow-moving items and
drops in price.
Substitute plots of land reported as inventories
are capitalized at the lower of cost or fair value.
Receivables, other current assets, and liquid assets
are stated at the lower of nominal or fair value.
Identifiable risks are accounted for in valuation
adjustments. Appropriate provisions are made to
cover general credit risk.
4. Accruals
Accruals for pensions are valuated as per Section
6a of the German Income Tax Code (EStG) according to their actuarial value at a 6 percent rate of
interest and according to the 2005 G guideline
tables produced by Prof. Klaus Heubeck.
Accruals for phased retirement schemes are calculated in accordance with rules issued in a federal
finance ministry circular of March 28, 2007 (IV B 2
– S 2175/07/002), as well as guideline tables published by Prof. Klaus Heubeck in 2005, at an interest rate of 5.5 percent.
Accruals for anniversaries and benefits, too, are
calculated on the basis of Prof. Heubeck’s tables
and at an interest rate of 5.5 percent.
Other provisions, including tax provisions, take into
account all uncertain liabilities and potential losses.
They are of a size deemed appropriate to meeting
obligations, based on a reasonable commercial
assessment.
5. Liabilities
Liabilities are valuated at the respective amounts
repayable. Liabilities for annuity payments are
stated at their cash values.
6. Currency conversion
Foreign-currency receivables and liabilities are
booked at the respective buying or selling rate and
converted at the less favorable rate applicable on
the balance-sheet date.
94
III. Notes on the balance sheet
1. Changes in Group fixed assets
Acquisition and production costs
At Jan. 1, 2009
€
Additions
€
Retirements Reclassifications At Dec. 31, 2009
€
€
€
26,220,655.40
982,435.05
- 271,884.88
170,814.09
155,174.79
0.00
0.00
- 138,174.79
17,000.00
26,375,830.19
982,435.05
- 271,884.88
32,639.30
27,119,019.66
1.Land, rights similar to land, and
buildings, including buildings on
land not owned
3,398,962,278.64
30,556,176.45
- 484,535.77
54,914,797.03
3,483,948,716.35
2.Technical equipment and
machinery
1,350,359,207.21
12,945,196.89
- 4,799,464.94
3,163,882.01
1,361,668,821.17
3.Other equipment, plant and
office equipment
263,891,493.96
10,129,646.90
- 7,942,516.28
2,968,416.11
269,047,040.69
4.Construction in progress and
advances on fixed assets
Fixed assets
I. Intangible assets
1.Franchises, intellectual property,
and similar rights and assets
2.Advances on intangible assets
27,102,019.66
II. Tangible assets
114,691,712.32
34,487,325.46
- 2,354,487.25
- 61,079,734.45
85,744,816.08
5,127,904,692.13
88,118,345.70
- 15,581,004.24
- 32,639.30
5,200,409,394.29
2,557,546.08
1,412,072.51
- 594,392.46
0.00
3,375,226.13
502,402.98
10,000.00
- 104,395.00
0.00
408,007.98
3,059,949.06
5,157,340,471.38
1,422,072.51
90,522,853.26
- 698,787.46
- 16,551,676.58
0.00
0.00
3,783,234.11
5,231,311,648.06
III. Financial assets
1.Investments in associated
companies
2.Other loans
95
Depreciation
Book values
At Jan. 1, 2009
€
Additions
€
Retirements Reclassifications
€
€
At Dec. 31, 2009
€
At Dec. 31, 2009 At Dec. 31, 2008
€
€
- 23,017,996.69
- 1,437,188.43
271,864.88
0.00
- 24,183,320.24
2,918,699.42
0.00
- 17,000.00
0.00
0.00
- 17,000.00
0.00
155,174.79
- 23,017,996.69
- 1,454,188.43
271,864.88
0.00
- 24,200,320.24
2,918,699.42
3,357,833.50
- 1,093,540,689.25
- 59,594,897.38
16,450.00
0.00 - 1,153,119,136.63
- 995,190,332.71
- 51,119,269.22
4,799,464.44
0.00 - 1,041,510,137.49
- 218,136,943.60
- 12,699,990.83
7,891,919.80
0.00
- 222,945,014.63
0.00
0.00
3,202,658.71
2,330,829,579.72 2,305,421,589.39
320,158,683.68
355,168,874.50
46,102,026.06
45,754,550.36
85,744,816.08
114,691,712.32
0.00
0.00
0.00
- 2,306,867,965.56
- 123,414,157.43
12,707,834.24
0.00
0.00
0.00
0.00
0.00
3,375,226.13
2,557,546.08
0.00
0.00
0.00
0.00
0.00
408,007.98
502,402.98
0.00
- 2,329,885,962.25
0.00
- 124,868,345.86
0.00
12,979,699.12
0.00 - 2,417,574,288.75
0.00
0.00
0.00 - 2,441,774,608.99
2,782,835,105.54 2,821,036,726.57
3,783,234.11
3,059,949.06
2,789,537,039.07 2,827,454,509.13
96
2. Details of ownership
Companies included in the consolidated financial statements
Seat
Share of capital
%
aerogate München Gesellschaft für Luftverkehrsabfertigungen mbH
Munich
100.0
AeroGround Flughafen München Aviation Support GmbH
Munich
100.0 1
Allresto Flughafen München Hotel und Gaststätten GmbH
Munich
100.0 1
CAP Flughafen München Sicherheits-GmbH
Freising
76.1
Cargogate Flughafen München GmbH Gesellschaft für Luftverkehrsabfertigungen mbH
Munich
100.0 1
eurotrade Flughafen München Handels-GmbH
Munich
100.0 1
Flughafen München Baugesellschaft mbH
Oberding
FM Terminal 2 Immobilien-Verwaltungsgesellschaft mbH & Co oHG
Oberding
60.0 1
Freising
100.0 1
FMV – Flughafen München Versicherungsvermittlungsgesellschaft mbH
MediCare Flughafen München Medizinisches Zentrum GmbH
Oberding
mucground Services Flughafen München GmbH
Terminal 2 Betriebsgesellschaft mbH & Co oHG
Beteiligungsgesellschaft mbH der FMG
1
60.0
51.0
Freising
100.0 1
Oberding
Freising
60.0 1
100.0 1
Seat
Share of capital
xemption provisions apply regarding disclosure of the yearend accounts as per Section 264, Paragraph 3 and Section
E
264b of the German Commercial Code.
Associated companies
%
Bayern Facility Management GmbH
EFM – Gesellschaft für Enteisen und Flugzeugschleppen am Flughafen München mbH
In fiscal 2009, EFM’s carrying value grew from
€1.235 million at January 1, 2009, to €2.166 million
at December 31, 2009, and the unit generated a
proportionate net profit for the year of €1.411 million
with a payout of €480 thousand.
Munich
Freising
49.0
49.0
The carrying value of Bayern Facility Management
GmbH, Munich, contracted from €1.318 million at
January 1, 2009, to €1.204 million at December 31,
2009. The company generated a proportionate net
profit for the year of €0 thousand with a payout of
€114 thousand.
97
In accordance with Section 311, Paragraph 2 of the
German Commercial Code (HGB), MediCare’s
20 percent stake in Radiologisches Diagnostikzentrum München Airport GmbH is not included at
equity in the consolidated financial statements as
this investment is of little significance in terms of
presenting an accurate picture of the Group’s assets
and financial and earnings situation.
3. Receivables and other assets
Other assets totaling €14.5 million are due within
more than one year. All other receivables and other
assets are due within one year.
4. Equity
The FMG Group’s retained earnings comprise other
retained earnings from Allresto, CAP, eurotrade, and
FMG, earnings from consolidation entries, and earnings from subsidiaries’ net income.
The Group’s consolidated net income is calculated
as follows:
Dec. 31, 2009
€ thousand
Consolidated net loss for the year
Minority interest in net loss for the year
Profit carried forward
Consolidated net income
- 1,447
- 86
15,109
13,576
Minority interests comprise CAP (+ €63 thousand),
IMMO (+ €10.00 million), MediCare (+ €196 thousand), T2 BG (+ €1.210 million), and FMBau
(+ €12 thousand).
The change in consolidated equity is presented separately in the equity table.
5. Accruals
Accruals for deferred taxes in the FMG consolidated
financial statements comprise €1.3 million for current
trade income and corporation tax and €39.4 million
for deferred trade income and corporation tax. In
the review year, no accruals were formed within the
Group for deferred trade income tax or corporate tax
in view of the negative trend in the corporate parent’s
earnings.
In fiscal 2009, the FMG Group had other accruals of
€255.0 million. These essentially comprise €111.4
million for the restructuring of the Ground Handling
division, €26.9 million for settlement backlogs and future obligations in connection with phased retirement
programs, €22.2 million in balance-sheet provisions
for the Ground Handling division, €12.7 million for
vacation and overtime entitlements and other HR expense, €9.9 million for specific regional impact fund
projects, €6.3 million for the fulfillment of statutory
requirements concerning fire extinguishing systems,
and €38.8 million for maintenance work, major
repairs, restoration commitments, and outstanding
invoices for construction work.
98
6. Liabilities
Liabilities table
Dec. 31, 2009
Total
Residual term
up to 1 year
Residual term
1 to 5 years
Residual term
over 5 years
€
10,405,246.14
€
10,405,246.14
€
0.00
€
0.00
1,558,454,908.37
345,850,390.31
273,873,162.06
938,731,356.00
43,075,094.67
40,022,414.95
2,997,767.10
54,912.62
1,578,998.23
1,578,998.23
0.00
0.00
Other liabilities
69,054,450.30
18,362,491.74
50,391,074.89
300,883.67
of which to insurance companies
43,605,786.34
37,786.34
43,568,000.00
0.00
5,598,961.30
5,598,961.30
0.00
0.00
543,573.06
1,682,568,697.71
543,573.06
416,219,541.37
0.00
327,262,004.05
0.00
939,087,152.29
Liabilities to shareholders
Liabilities to banks
Trade accounts payable
Liabilities to associated companies
of which in taxes
of which in social welfare
Dec. 31, 2008
Total
Residual term
up to 1 year
Residual term
1 to 5 years
Residual term
over 5 years
€
43,492,081.49
€
43,492,081.49
€
0.00
€
0.00
1,623,078,837.69
351,345,083.57
60,587,956.97
57,594,878.71
2,993,078.26
0.00
372,134.92
372,134.92
0.00
0.00
Other liabilities
71,608,546.58
20,973,600.99
6,722,124.34
43,912,821.25
of which to insurance companies
43,716,869.86
148,869.86
0.00
43,568,000.00
1,561,756.79
1,561,756.79
0.00
0.00
21,252.84
1,799,139,557.65
21,252.84
473,777,779.68
Liabilities to shareholders
Liabilities to banks
Trade accounts payable
Liabilities to associated companies
of which in taxes
of which in social welfare
Liabilities to associated companies of €1.6 million consisted entirely of purchased services. To secure all current liabilities to banks (€972.4 million at December 31,
2009) and future liabilities from loans, two subsidiaries
have relinquished their entitlements in connection
179,793,162.06 1,091,940,592.06
0.00
0.00
189,508,364.66 1,135,853,413.31
with rents, leases and other transfers of use, as well
as entitlements issuing from land-use agreements and
loss-adjustment entitlements established in company
agreements. In addition, a declaration of assignment
is in place concerning rights and entitlements from
99
existing and future insurances and any collateral
agreements, barring rights and entitlements from
third-party liability insurance. In addition, furniture,
fittings, movables and production equipment of two
subsidiaries, along with the airport buildings of one of
these subsidiaries, were assigned to a bank under the
transfer of a storage security agreement.
IV. Notes on the income statement
The consolidated income statement was prepared
according to the total cost method.
1. Proceeds on sales
Proceeds on sales are broken down by areas of activity that reflect the internal organizational structure.
2009
2008 1
€ million
%
€ million
%
Aviation, Ground Handling
511.9
52.2
550.7
52.8
Retail and Services
269.9
27.5
285.6
27.3
Corporate Real Estate Management and Development,
and Support and Central divisions
199.5
20.3
207.4
19.9
981.3
100.0
1,043.7
100.0
1
he prior-year figures have been adjusted to reflect changes in the allocation of items, in particular parking revenue. In fiscal 2008, sales totaled €281.2 million at ReT
tail and Services and €211.8 million at Corporate Real Estate Management and Development and the Support and Central divisions.
2. Own work capitalized/Other operating income
For the most part, our own work capitalized in 2009
comprised €5.4 million in planning work for the airport’s
third runway. In addition, there were €3.3 million in
income from construction work within the Group.
Other operating income includes €27.5 million from
the reversal of contractual provisions in the Ground
Handling division.
Additional other operating income items include
€11.3 million for the write-back of current accruals
that were formed in the past but were not required
in fiscal 2009, €5.1 million in revenue from advertising in subsidiaries, and €4.7 million from the sale of
constant maturity swaps.
100
V. Additional notes
1. Contingent liabilities
To cover risks pertaining to back payments of wage
taxes and social security contributions at its security
subsidiary and thus avert a potential balance-sheet
insolvency, Flughafen München GmbH issued a
declaration of backing on behalf of the subsidiary that
exceeds the subsidiary’s accruals by an amount of up
to €4 million.
Given that the court ruling issued on May 28, 2010,
which was applied as the basis for the valuation of
the reserve for the restructuring of Ground Handling,
does not yet have legal force, there remains a
theoretical risk of additional payment obligations of
up to €76.4 million in connection with the division’s
restructuring.
2. Other financial obligations
Existing real-estate lease and building rental
contracts are expected to incur costs of around
€48.9 million in 2010. The burden through to the end
of the basic contractual lease term will amount to
€224.2 million. Obligations issuing from a subsidiary’s maintenance, upkeep and insurance contracts
will amount to €8.4 million through to the end of the
contractual terms.
Existing construction, supply and service contracts
and agreements with planners, architects and
engineers pertain essentially to ongoing business
operations and are of a scope consistent with FMG’s
business operations. The company also has additional
obligations in connection with environmental protection
measures and the honoring of public-law requirements.
Obligations issuing from service agreements and
purchasing commitments amount to €5.4 million.
3. Derivative financial instruments
The FMG Group had the following derivative financial instruments at the balance-sheet date:
– Twenty-nine payer swaps with a volume of €979.4
million and terms through to 2016. At December
31, 2009, the payer swaps had a market value of
negative €72.9 million.
– Two receiver swaps with terms through to 2015,
a volume of €190 million, and a market value of
€10.3 million.
– One cap with a term through to 2010, a volume
of €25 million and a market value of negative
€0.1 million.
The market values of all of the derivative financial
instruments were supplied by the relevant banks
and were computed by these banks using the
discounted cash flow method and current interest
structure curves.
Four constant maturity swaps with a total volume of
€178 million were closed out in 2009. The proceeds
on these sales totaled €4.7 million. The reserve of
€1.3 million formed a year earlier as a hedge against
losses was reversed.
All other interest rate derivatives on the books at the
balance-sheet date were combined with underlying
transactions for valuation purposes and are not
stated separately in the balance sheet.
In addition, two loans in existence at the balancesheet date that were originally taken out in Japanese yen were transferred into euros by means of
cross-currency swaps (total volume: €43.6 million).
4. Other disclosures
In fiscal 2009, the auditors of the Group’s financial
statements received €101.6 thousand for auditing
and other services provided to the Group, plus
€ 33.9 thousand for the subsidiary companies
included in the full consolidation. Expenses for
auditing services provided by other auditors to other
subsidiaries included in the Group’s financial statements totaled € 31.1 thousand in the review year.
101
5. Executive board
Members of the executive board in 2009:
− Dr. Michael Kerkloh
President and Chief Executive Officer
− Walter Vill
Vice President and Chief Financial Officer
− Thomas Weyer
Chief Operating Officer
6. Supervisory board
Members of the supervisory board in 2009:
− Georg Fahrenschon
Minister of State, Bavarian State Ministry of
Finance, Munich, chairman
Free State of Bavaria
− Josef Poxleitner
Director-General, Board of Building and Public
Works in the Bavarian State Ministry of Home
Affairs
− Dr. Hans Schleicher
Director-General, Bavarian State Ministry for
Economic Affairs, Infrastructure, Transport and
Technology
− Klaus Weigert
Director-General, Bavarian State Ministry of Finance, Munich
Federal Republic of Germany
− Dr. Dieter Knoll
Ministerial councilor, Federal Ministry of Finance,
Bonn
− Robert Scholl
Director-General, Federal Ministry of Transport,
Building and Housing
City of Munich
− Christian Ude
Chief Mayor, City of Munich
− Dr. Reinhard Wieczorek
Councilor, City of Munich, supervisory board
member until March 31, 2009
− Dieter Reiter
Councilor, City of Munich, supervisory board
member from March 31, 2009
Employee representatives
− Thomas Bihler
Clerical employee, employee representative
− Heinrich Birner
Director of the ver.di labor union, Munich region
− Michael Börries
Certified aircraft handler, works council chairman
from July 24, 2009, supervisory board member
from July 24, 2009
− Hans-Joachim Bues
Senior Vice President Corporate Communications,
executive employees’ representative
− Willy Graßl
Head of Operations, works council chairman until
July 24, 2009
− Ralf Krüger
Clerical employee, full-time works councilor, supervisory board member until July 24, 2009
− Orhan Kurtulan
Certified aircraft handler, full-time works councilor
− Anna Müller
Clerical employee, full-time works councilor
− Sabine Peters
Clerical employee, supervisory board member from
July 24, 2009
− Otto Siegl
Clerical employee, full-time works councilor, supervisory board member until July 24, 2009
102
7. Executive board remuneration and loans
Remuneration of executive board members consists
of a fixed salary and a variable, performance-based
amount:
Remuneration in 2009
Fixed
€ thousand
Variable
Total
€ thousand € thousand
Dr. Michael Kerkloh
250.0
113.5
363.5
Walter Vill
196.5
78.2
274.7
Thomas Weyer
Total
220.0
666.5
62.8
254.5
282.8
921.0
8. Employees
With the introduction of a new collective labor agreement, we stopped differentiating between wage,
salaried and temporary employees in our reporting in
fiscal 2006.
Barring members of executive management but
including all employees on unlimited, fixed-term and
trainee contracts, the FMG Group had an average
headcount of 7,090 employees in fiscal 2009 (2008:
7,379), as defined in Section 267, Paragraph 5 of the
German Commercial Code.
In addition, executive board members received
In addition, 227 apprentices were undergoing
emoluments in kind and contractually agreed fringe
vocational training at FMG Group units in 2009
benefits totaling €38.7 thousand in 2009. Reserves
(2008: 230).
totaling €1.836 million were also formed at December
31, 2009, to cover future pension obligations.
Former members of executive management and
surviving dependents of former members received
emoluments of €565.2 thousand in fiscal 2009. Reserves of €5.177 million were formed to cover future
pension payments and accrued pension rights of
surviving dependents.
Dr. Michael Kerkloh
Walter Vill
Emoluments paid to supervisory board members
totaled €16.7 thousand.
Thomas Weyer
We have audited the consolidated financial statements prepared by Flughafen München GmbH,
Munich, comprising the balance sheet, income statement, cash flow statement, equity statement, and
the notes to the consolidated financial statements, together with the consolidated management report for
the fiscal year from January 1 to December 31, 2009.
The preparation of the consolidated financial statements and the consolidated management report in accordance with German commercial-law requirements
is the responsibility of the company’s management.
Our responsibility as auditors is to express an opinion,
based on our audit, of the consolidated financial statements and of the consolidated management report.
We conducted our audit of the consolidated financial
statements in accordance with Section 317 of the
German Commercial Code (HGB) and with generally
accepted standards for the audit of financial statements in Germany as issued by the Institute of Public
Auditors in Germany (IDW). These standards require
that we plan and perform the audit in such a manner
that, under the principles of proper accounting, any
misstatements materially affecting the presentation
of the net assets, financial position and results of
operations in the consolidated financial statements or
in the consolidated management report are detected
with reasonable assurance. Knowledge of the business activities and the economic and legal environment of Flughafen München GmbH and its group of
companies and expectations as to possible misstatements are taken into account in the determination of
audit procedures. The effectiveness of the accountingrelated internal control system and the evidence supporting the disclosures in the consolidated financial
statements and the consolidated management
report are examined primarily on a test basis within
the framework of the audit. The audit encompasses
assessing the annual financial statements of those
entities included in consolidation, the determination of
entities to be included in consolidation, the accounting
and consolidation principles applied and significant estimates made by management, as well as evaluating
the overall presentation of the consolidated financial
statements and the consolidated management report.
We believe that our audit provides a reasonable basis
for our opinion.
Our audit has not led to any reservations.
In our opinion, based on the findings of our audit, the
consolidated financial statements comply with the
statutory requirements and give a true and fair view of
the net assets, financial position and results of operations of the FMG Group in accordance with these
requirements. The consolidated management report
is consistent with the consolidated financial statements and, as a whole, provides a suitable view of the
Group’s position as well as the opportunities and risks
associated with its future development.
This report is issued on the basis of our audit of the
consolidated financial statements concluded on May
21, 2010, as well as a supplementary audit concluded
on July 12, 2010, that addressed changes in individual
balance-sheet items pertaining to equity, reserves and
liabilities to shareholders, and to attendant changes
in the income statement, equity statement, cash
flow statement and consolidated management statement. Account is given for the changes made by the
company in the amended annex to the consolidated
financial statements. Our supplementary audit has
not led to any reservations.
Munich, May 21, 2010/July 12, 2010
SUSAT & PARTNER OHG
Appointed auditors
Dr. Kirnberger
Auditor
Schuster
Auditor
103
104
Publisher
Tel.: +49 89 975-00
Editor
Dr. Reingard Schöttl
Internal Communications, Print and Online Media
P.O. Box 23 17 55
85326 München
Germany
www.munich-airport.de
Photographs
Alex Tino Friedel
Jan Frommel
Dr. Werner Hennies
Christian Höhn
Koch + Partner Architekten und Stadtplaner GmbH
Sixt AG
Collected by European Space Imaging under the
WorldView Global Alliance. © DigitalGlobe, 2010
Design
RED, Munich/Krailling
Translation
Tom Rattray
Printing
G. Peschke Druckerei GmbH, Munich
Paper
PhoeniXmotion Xenon

Annual Report 2009

Transcription

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