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Shaping the Future Anyone Wanting to Succeed Cannot Rest on Their Achievements When It Comes to Development

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Shaping the Future Anyone Wanting to Succeed Cannot Rest on Their Achievements When It Comes to Development SHAPING 5 Star Airport THE FUTURE Munich Airport Integrated Report 2018 Living ideas – Connecting lives Shaping the future Anyone wanting to succeed cannot rest on their achievements when it comes to development. Munich Airport is already preparing for future challenges by purposefully expanding its infrastructure, by adapting its HR strategy to suit demographic change, and by implementing intelligent digital solutions. With this approach, the airport is shaping its future. /Contents Airport at a glance 4 – Key figures 6 – Letter from the Executive Board 10 – Integrated reporting Further information 12 – Business model online The online report and a PDF are available to read or download from: report2018.munich-airport.com 16 – Reports Additional content in the online report: ∫ Notes to the consolidated financial statements ∫ Independent auditor’s report ∫ Sustainability figures ∫ Sustainability program ∫ Report profile ∫ GRI Content Index ∫ Material topics ∫ Independent assurance report Sections 32 – Strategy and management 42 – Service portfolio 52 – Working environment and society 62 – Environmental and climate protection Financial report 72 – Group management report 104 – Abridged consolidated Follow these symbols to find out more: financial statements Text reference Web reference Group management report at a glance Munich Airport: Integrated Report 2018 4 /Key figures Key economic figures Key environmental figures Key social figures Results of operations, net assets, and financial position CO₂ emissions Employee structure¹) Change Change Change in % in % in % In € million 2018 2017 2016 2018/17 In tonnes 2018 2017 2016 2018/17 Number 2018 2017 2016 2018/17 Group revenue 1,508.8 1,468.7 1,364.1 2.7 Direct Total 9,626 9,413 8,502 2.3 emissions Of which Scope 1 87,341 88,668 85,262 -1.5 Women in % 33.14 33.47 33.39 -1.0 Aviation in % 54 54 53 Indirect Men in % 66.86 66.53 66.61 0.5 Of which emissions Non-Aviation Full-time in % 79.75 76.07 80.30 4.8 Scope 2 15,045 17,237 16,329 -12.7 in % 46 46 47 Part-time in % 20.25 23.93 19.70 -15.4 Other indirect EBITDA 538.1 520.0 529.0 3.5 emissions < 30 years EBIT 322.2 302.4 289.9 6.6 Scope 3 47,719 46,154 49,024 3.4 in % 15.92 16.11 16.48 -1.2 Consolidated Total annual 30–50 years earnings after CO₂ emissions in % 52.17 53.26 53.05 -2.1 taxes (EAT) 148.7 158.8 151.6 -6.4 open to influence 150,105 152,059 150,614 -1.3 > 50 years EBITDA margin in % 31.91 30.64 30.48 4.1 in % 35.7 35.4 38.8 ) EBITDA/Pax in € 11.6 11.7 12.5 -0.9 Specific CO2 emissions ¹ Reporting date: December 31: Figures exclude apprentices, workers in minor employment, temporary workers, and interns. EBIT margin Change in % 21.4 20.6 21.3 in % ) ROCE¹ in % 7.4 6.9 6.6 In kilograms 2018 2017 2016 2018/17 Apprentices CO₂ emissions Cash flow Change per passenger 3.24 3.41 3.56 -4.7% from operating in % activities 468.3 381.9 528.8 22.6 Number 2018 2017 2016 2018/17 Investments 204.7 136.3 274.9 50.1 Drinking water and wastewater Total 277 275 274 0.7 Free cash flow 271.7 265.2 257.0 2.5 Change Equity 2,212.5 2,086.3 1,942.9 6.1 in % Equity ratio In cubic meters 2018 2017 2016 2018/17 Occupational health and safety in % 41.3 39.3 37.1 Volume of Change Net debt 2,079.4 2,221.5 2,393.0 -6.4 purchased in % drinking water 986,580 1,016,708 1,050,791 -3.0 Net debt/EBITDA 3.9 4.3 4.5 Number 2018 2017 2016 2018/17 Drinking water Reportable Net gearing consumption occupational (net debt/ per 1,000 TU¹) 19.8 21.0 23.0 -5.7 accidents 231 225 195 2.7 equity) in % 94 106 123 Total waste water Resulting ¹) ROCE = EBIT/(equity + net debt + ongoing employee benefits). discharged 2,404,292 2,336,314 2,278,602 2.9 days of absence 5,820 5,761 4,331 1.02 Wastewater per 1,000 TU¹) 48.2 48.3 49.8 0.2 Rate per 1,000 workers 26.55 26.42 24.50 0.5 Airport at a glance ¹) Traffic units. Key figures 5 Key operating figures Key management figures Revenue Munich Airport has defined three key performance indi- Consolidated earnings before taxes (EBT) In € million cators to measure the development of the company. These In € million key performance indicators are a measure of doing busi- ness in a sustainable and integrated manner and influence the variable remuneration components for managers. ¹ ∫ In 2018, Munich Airport increased revenue by 2.7 percent to ∫ The consolidated earnings before taxes fell a little less than around € 1.51 billion. expected in 2018, by just 3.5 percent. ∫ In terms of revenue from airport charges, passenger and landing ∫ The anticipated result was thus exceeded. charges made the largest contribution to growth in revenue. p page 86 p page 86 ¹) Value adjusted in accordance with IAS 8 Passengers CO reductions Passenger experience index (PEI) In millions In tonnes In percent ∫ In 2018, the passenger figures rose by just under 1.7 million, ∫ Munich Airport wants to be the first carbon-neutral airport ∫ Since 2017, the Passenger experience index (PEI) has replaced or 4 percent, to a new peak of 46.3 million. in Germany by 2030. the Airport Service Quality value as a non-financial key ∫ With that, the annual passenger volume at Munich Airport has ∫ The objective for 2018 was clearly exceeded with this result. performance indicator. already more than doubled since the turn of the century. ∫ In 2018, an indicator was used as a target value that differs from 2017. p page 83 p page 90 p page 90 Munich Airport: Integrated Report 2018 Airport at a glance Key figures 6 Airport at a glance /Key figures 7 /Letter from the Executive Board From left to right I am delighted to report that Munich Airport has once again achieved positive results in the fiscal year just ended. With revenue of a good 1.5 billion euros, we generated around 2.7 percent more in 2018 than in the previous year. While Dr. Michael Kerkloh earnings before tax (EBT) are down by around 3.5 percent to just over 221 million euros, this was due to the major President and Chief Executive Officer, investment projects underway in the area of maintaining and expanding our infrastructure; projects which will equip Personnel Industrial Relations Director Munich Airport for the future. Andrea Gebbeken The traffic figures have likewise been very positive: 46.3 million passengers flew from or to Munich in 2018, 1.7 million or Chief Commercial and 3.8 percent more than in the previous year – a new record. Despite Transavia Airlines pulling out of Munich, and Air Berlin Security Officer ceasing operations completely, the number of aircraft movements rose to more than 413,000 take-offs and landings, 2.2 percent more than in 2017. This also means, however, that the two-runway system is being stretched to its limit. Thomas Weyer Chief Financial Officer and Construction of the planned third runway can no longer be pursued at present following the agreement reached last Chief Infrastructure Officer autumn between the ruling coalition parties, the CSU and Freien Wähler (Free Voters), to impose a five-year moratorium. The capacity bottlenecks already being experienced will consequently be tightened in the coming years. Airlines will therefore find it increasingly difficult to offer additional flights from and to Munich, and to meet the rising demand for mobility from both the general public and the business community in Bavaria. The company is currently broadening its position and developing new fields of business. Increasingly, we are offering our expertise in the area of relocation, planning, construction, and operation to other airports worldwide. Our subsidiary Munich Airport International GmbH is currently very active in the U.S. At the same time, with LabCampus, an innovation center is being created in the west of the airport premises, on an area measuring 500,000 square meters, that will initiate cross-sector, technological developments and be an international meeting point for renowned companies, start-ups, and research facilities. Our new company headquarters is to be built there. Munich Airport: Integrated Report 2018 Airport at a glance Letter from the Executive Board 8 This year’s integrated report is very deliberately focused on the topic of «shaping the future». With that we want to show that we are actively engaging with the three major challenges currently facing Munich Airport: the need to expand our infrastructure, the generational change, and the megatrend that is digitalization. Each of these challenges also brings with it opportunities. We have therefore introduced a range of measures to utilize these: ∫ We are investing massively in our infrastructure. Terminal 1 has been showing its age, so we are renovating and expanding it. Planning approval was granted in 2018 and construction works already started on the apron in April this year. A new, attractive passenger handling area with a pier for up to twelve aircraft will be completed here by 2023. ∫ We are making increasing use of digital solutions for new services. The key phrase here is ensuring as seamless a journey as possible. We want to serve air passengers an attractive offering along the entire travel chain. Useful applications for smartphones, and test runs with artificial intelligence are just a few examples of the digital solutions that FMG is currently exploring.
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