Airport set new records

Airport again closes out operating year with net profit of €100 mio.

On the back of strong gains in passenger and freight figures, Munich Airport achieved outstanding financial results in 2014, with consolidated revenue again showing a slight year-on-year increase to approximately 1.2 billion euros. Based on preliminary figures, earnings after taxes (EAT) for the FMG Group amounted to 100 million euros, and thus matched the high level of the previous year. Address-ing the FMG Group's annual press conference in Munich, CEO Dr. Michael Kerkloh expressed great satisfaction with the results: "With this performance, Munich Airport remains one of the few airports in Germany still generating significant profits." Group EBITDA, at 475 million euros, was about 2 percent higher than the previous year's figure. The EBITDA margin was up one percentage point to 40 percent.

With close to 40 million travellers arriving and departing, Munich Airport had yet another record year in 2014. The total passenger traffic rose by nearly 3 percent to 39.7 million. The increase in passenger numbers in Munich in 2014 resulted entirely from gains in international traffic. The strongest growth was seen in the intercontinental segment, where traffic increased by 7 percent to 6.2 million passengers. About half of the increase can be attributed to the new long-haul services to Houston, Mexico City and Miami. The number of passengers travelling on routes within Europe and to destinations in North Africa was up nearly 3 percent to more than 24 million.

The strong passenger demand also resulted once again in an increase in the av-erage load factor of aircraft in Munich, which rose to a new all-time high of 75.9 percent. The airfreight segment also reported new records: The total volume of cargo increased by 8 percent to a record level of over 291,000 tons. When airmail is included, the cargo volume handled in Munich actually exceeded 309,000 tons. By contrast, the statistics show a slight decline in aircraft movements: A total of about 377,000 take-offs and landings took place in 2014: a decrease of 1.4 percent from the previous year.

To cope with traffic growth in the coming years, FMG and Lufthansa are building a satellite terminal on the eastern apron with a capacity of 11 million passengers per year. The facility is due to be completed by autumn of this year. Several months of extensive trial runs will then be carried out to ensure thorough testing of all technical systems. With regard to the concrete timetable, Kerkloh said, "The new passenger handling facility will go into operation during the 2016 summer timetable period – and before the end of June. We will announce the exact opening date in the middle of this year."

Remarking on Munich Airport's second major expansion project – the third runway – Kerkloh stressed its long-term significance for the state of Bavaria: "There is a very close relationship between mobility and the prosperity of an economic region. That is why, ultimately, this future project is also about how our state will be positioned in 20 or 30 years – which companies will set up operations here and what career prospects it will offer the generation of our children and grandchildren."

Summary of annual figures of Munich Airport:


Traffic figures20142013Change

Passenger volume
Commercial traffic
39.700.51538.672.644+ 2,7 %

Aircraft movements
Total
376.678381.951- 1,4 %

Cargo (in tons)   

Airfreight and airmail309.361 t287.809 t+ 7,5 %

Thereof airfreight turnover291.475 t269.980 t+ 8,0 %


Summary of annual results of Munich Airport:

27.03.2015

FMG Group financial results FMG-Konzern
(in Millionen Euro)
2014
(IFRS)
2013
(IFRS)

Consolidated revenue1.2001.184

Earnings before interest, taxes depreciation and amortization (EBITDA)475468

Depreciation and amortization210209

Earnings before interest and taxes (EBIT)265259

Financial result-100-105

Taxes-65-55

EAT10099

EBITDA margin (%)4039

Operating cash flow430457


Similar topics