Flughafen München Gmbh Annual Press Conference April 11, 2018
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/Flughafen München GmbH Annual Press Conference April 11, 2018 Corporate Communications /The Executive Board of Munich Airport Dr. Michael Kerkloh President and Chief Executive Officer Andrea Gebbeken Chief Commercial Officer Thomas Weyer Vice President and Chief Officer Finance and Infrastructure Corporate Communications Press release April 11, 2018 Airport increasingly serving as a springboard for intercontinental travel Munich Airport reports record net annual profit of €155 million for 2017 With consolidated earnings after taxes at around €155 million, Munich Airport achieved the best result in its history in 2017. The Group again achieved a year- on-year increase of €100 million in annual revenues to around €1.5 billion – hanks in large part to a substantial 5.5 percent rise in total passengers to 44.6 million. The airport's strong economic performance also paid off for the neighboring communities, which will again take in business tax revenues of €35 million. In view of the record figures, Dr. Michael Kerkloh, the President and CEO of Munich Airport, is confident that the company is well prepared for the challenges that lie ahead: "This ensures that Munich Airport will be able to make the necessary investments to handle its future tasks with its own financial resources." Kerkloh's outlook at today's annual press conference in Munich: "All the signs point to a continuation of our very satisfactory performance, so that we fully expect to report earnings at around the same level for 2018." A look at the current traffic trends in the recently launched summer timetable period confirms this assessment. With five Lufthansa Airbus A 380 aircraft now stationed in Munich, the Bavarian hub has become just the fourth European airport – after London, Paris and Frankfurt – to serve as a home base for the world's largest passenger aircraft. Lufthansa will operate daily services to Los Munich Airport | Flughafen München GmbH | P.O. Box 23 17 55 | 85326 Munich-Airport | Germany Telephone: +49 89 975 411 80 | Fax: +49 89 975 410 06 | [email protected] | www.munich-airport.com President and Chief Executive Officer: Dr. Michael Kerkloh Vice President and Chief Financial Officer (Chief Infrastructure Officer): Thomas Weyer Chief Commercial Officer: Andrea Gebbeken Page 1/4 Press release Angeles, Hong Kong and Beijing with the superjumbo. In addition, the German carrier has added four plans from the Airbus A320 to its Munich fleet for medium- haul flights. This has further improved the connectivity of the Munich hub. Another important component enhancing Munich Airport's hub status is the upgrade of the Lufthansa fleet with modern Airbus A350 long-haul jets. The airline has already eight of a total of 15 of these widebody jets in service. The Munich Airport 2108 summer timetable includes a more extensive range of intercontinental flights and destinations than ever before. CEO Kerkloh called this "a further step in solidifying Munich Airport's hub function." He added: "The new long-haul services have greatly strengthened our airport's global network. Munich is becoming more and more attractive as a springboard for travel to other continents." The Lufthansa subsidiary Eurowings is also helping to maintain the momentum of this trend: From the beginning of next week, Eurowings will be launching new long-haul services to and from Munich. The airline will offer scheduled services from Munich to 15 intercontinental destinations – including such holiday hotspots as Cancun, Fort Myers, Mauritius, Montego Bay and Las Vegas. As a result, travellers will have the option of flying with low-cost airlines on long-haul routes for the first time. Thanks to Eurowings, the share of low-cost carriers in total traffic in Munich is expected to increase to around 11 percent in 2018. Munich Airport | Flughafen München GmbH | P.O. Box 23 17 55 | 85326 Munich-Airport | Germany Telephone: +49 89 975 411 80 | Fax: +49 89 975 410 06 | [email protected] | www.munich-airport.com President and Chief Executive Officer: Dr. Michael Kerkloh Vice President and Chief Financial Officer (Chief Infrastructure Officer): Thomas Weyer Chief Commercial Officer: Andrea Gebbeken Page 2/4 Press release Summary of Munich Airport's annual results: FMG Group financial results 2017 2016 (€m) (IFRS) (IFRS) Group sales 1,470 1,364 Earnings before interest, taxes 520 529 depreciation and amortization (EBITDA) Depreciation and amortization 220 239 Earnings before interest and taxes 300 290 (EBIT) Financial result -75 -80 Taxes -70 -58 EAT 155 152 EBITDA margin 35% 39% Operating cash flow 380 529 ------------------------------------------------------------------------------- Please note that the 2017 financial results are still preliminary approximate values! The approx. 2 percent year-on-year decrease in EBITDA resulted from non-recurring gains from disposals. The decrease in operating cash flow resulted mainly from liabilities in connection with the construction of the satellite terminal in 2016 and from higher tax payments in 2017. Munich Airport | Flughafen München GmbH | P.O. Box 23 17 55 | 85326 Munich-Airport | Germany Telephone: +49 89 975 411 80 | Fax: +49 89 975 410 06 | [email protected] | www.munich-airport.com President and Chief Executive Officer: Dr. Michael Kerkloh Vice President and Chief Financial Officer (Chief Infrastructure Officer): Thomas Weyer Chief Commercial Officer: Andrea Gebbeken Page 3/4 Press release Summary of annual figures of Munich Airport: Traffic figures 2017 2016 Change Passenger volume Commercial traffic 44,577,241 42,261,309 5.5 % Aircraft movements Total 404,505 394,430 2.6 % Cargo (in tons) Airfreight and airmail 378,803 353,650 7.1 % turnover Thereof airfreight turnover 362,831 334,497 8.5 % FMG (Flughafen München GmbH), incorporated in 1949, operates Munich Airport, which opened at its present site on May 17, 1992. It is jointly owned by the Free State of Bavaria (51 percent), the Federal Republic of Germany (26 percent) and the city of Munich (23 percent). The FMG corporate group, with its 16 subsidiaries, employs over 9,000 people. With a total workforce of about 35,000 employees with 550 companies, Munich Airport is one of Bavaria’s most important workplaces. Within just a few years of opening, Munich Airport developed into a major air transportation hub and was firmly established as one of Europe's 10 busiest airports. Munich Airport now offers connections to more than 250 destinations all over the world. In 2017 it handled about 405,000 flights with 44.6 million passengers. Munich Airport was the first – and remains the only – European hub to earn the prestigious "Five Star Airport" designation from the London-based international air transport rating organization Skytrax. http://twitter.com/muc_airport (Hashtag: #MPresse) http://www.facebook.com/flughafenmuenchen https://www.instagram.com/munich_airport/ Munich Airport | Flughafen München GmbH | P.O. Box 23 17 55 | 85326 Munich-Airport | Germany Telephone: +49 89 975 411 80 | Fax: +49 89 975 410 06 | [email protected] | www.munich-airport.com President and Chief Executive Officer: Dr. Michael Kerkloh Vice President and Chief Financial Officer (Chief Infrastructure Officer): Thomas Weyer Chief Commercial Officer: Andrea Gebbeken Page 4/4 Press release April 11, 2018 MUC again reports growth in passenger traffic and airfreight: Munich Airport continues positive trend in first quarter of 2018 Munich Airport closed out the first quarter of 2018 with increases in passenger traffic, cargo and aircraft movements. The number of passengers using Bavaria's gateway to the world rose to 9.6 million in the first three months of the year – an increase of about 200,000, or 2 percent, as compared with the first quarter of 2017. The number of take-offs and landings was up slightly in the same period to over 93,000. Cargo turnover showed a year-on-year increase of 2 percent to approximately 92,000 tons. The traffic trend in the first quarter of 2018 was dented somewhat by the departure of Air Berlin and the strategic decision by the Dutch-French airline Transavia to give up its Munich base. This resulted in the loss of about 10 percent of aircraft movements and passenger traffic as compared with the previous year. "However, the fact that we can still report a plus for the first quarter is also an indication of our airport's very robust growth," said Dr. Michael Kerkloh, thePresident and CEO of Munich Airport, at the company's annual press conference today. Munich Airport | Flughafen München GmbH | P.O. Box 23 17 55 | 85326 Munich-Airport | Germany Telephone: +49 89 975 411 80 | Fax: +49 89 975 410 06 | [email protected] | www.munich-airport.com President and Chief Executive Officer: Dr. Michael Kerkloh Vice President and Chief Financial Officer (Chief Infrastructure Officer): Thomas Weyer Chief Commercial Officer: Andrea Gebbeken Page 1/2 Press release Traffic figures for the first three months: 2018 2017 Change Passenger volume Commercial traffic 9,584,000 9,397,939 2.0 % Aircraft movements Total 93,140 92,994 0.2 % Cargo (in tons) Airfreight and airmail 91,810 89,969 2.0 % turnover Thereof airfreight 86,740 85,484 1.5 % turnover FMG (Flughafen München GmbH), incorporated in 1949, operates Munich Airport, which opened at its present site on May 17, 1992. It is jointly owned by the Free State of Bavaria (51 percent), the Federal Republic of Germany (26 percent) and the city of Munich (23 percent). The FMG corporate group, with its 16 subsidiaries, employs over 9,000 people. With a total workforce of about 35,000 employees with 550 companies, Munich Airport is one of Bavaria’s most important workplaces. Within just a few years of opening, Munich Airport developed into a major air transportation hub and was firmly established as one of Europe's 10 busiest airports.