With «Building Connections» Flughafen München GmbH (FMG) is publishing its integrated report as an annual of responsible business practices, looking at all key aspects along the value chain: Finance, employees, expertise, environment, infrastructure, and society. Based on the change in types of capital, the airport can identify significant cause-and-effect relationships as well as short, medium and long-term value creation or reduction. Integrated corporate management and holistic thinking foster the networking of the various divisions – and consequently agility and efficiency within the organization.
The integrated report is published in a full online and an abridged print version. The online report (hereinafter: integrated report) includes all contents of the reporting. The print report does not include the report profile, the GRI Content Index, the sustainability program, an overview of the main topics, the sustainability indicators with the opinion of the independent auditor, or the notes on the consolidated financial statements with the independent auditor’s opinion.
The Head of Corporate Communications & Politics and the Head of Corporate Development – Sustainability Management are responsible for the integrated report. Management reviews and approves it. The consolidated financial statements and the Group Management Report are approved at the Flughafen München GmbH shareholders’ meeting.
Further information can be found on the Munich Airport website (e.g., detailed reports from the company’s departments). In addition, numerous publications are available for download.
Contents of the report
In addition to the consolidated financial statements, which are prepared voluntarily in accordance with internationally recognized accounting standards pursuant to Section 315e (3) of the German Commercial Code (HGB), the integrated report includes information on sustainability performance. The issues that are material to the company’s business activities are identified on the basis of a materiality analysis and presented in the annual report.
The key topics represent key content for strategic sustainability management. These are economic, environmental and social issues that are important for creating value for the company in the short, medium and long term. At the same time, these are the issues that can potentially influence stakeholder decisions. In addition, issues that have economic, environmental and social impacts are also considered material. They are described in this report.
The premise for all key issues is that Munich Airport can actively influence them in the areas affected (business, corporate, and service units, as well as subsidiaries and affiliates, and staff units). The sustainability program shows the targets and measures FMG uses to manage the key issues.
Integrated reporting in accordance with the Value Reporting Foundation
In its integrated reporting, FMG has followed the framework of the Value Reporting Foundation since 2010 as a participant in the <IR> Business Network. The reporting is based on the central principles (Guiding Principles) and the required reporting elements (Content Elements) of the International Framework.
The integrated report is published annually. FMG reports in accordance with the GRI standards for the reporting period from January 1 to December 31, 2022. In addition, Munich Airport takes into account the GRI’s G4 Sector Disclosures for airport operators. The GRI Content Index contains references to the relevant report content and information on whether and how it has been audited. Omissions are indicated and described. As an adopter of the German Sustainability Code (DNK) FMG also makes reference in the GRI Content Index to the transparency criteria required by the code.
Disclosures in the financial report
Pursuant to Article 315e (3) of the German Commercial Code (Handelsgesetzbuch – HGB), FMG voluntarily prepares the consolidated financial statements in accordance with international accounting standards. In doing so, the company applies the accounting standards (IAS/IFRS) and interpretations (SIC/IFRIC) published by the International Accounting Standards Board (IASB) and the International Financial Reporting Standards Interpretations Committee (IFRS IC) as adopted into European law in full and without restriction. It also observes the regulations of Article 315e (3) sentence 2 in conjunction with (1) HGB.
The Group Management Report 2022 has also been prepared in accordance with the requirements of German Accounting Standard DRS 20.
Data collection and calculation methods
The data determined generally relate to the above-mentioned period or to the status at the end of the reporting period. If individual pieces of information are based on other periods, this is explicitly stated. Unless otherwise stated, the information and key figures in this report relate to the entire Group, including the affiliated companies in which FMG holds a majority stake. Deviating scopes of consolidation are explained accordingly.
All data and information were collected using representative methods from the units with technical responsibility for the reporting period. Changes are indicated by corresponding footnotes.
Personnel data are primarily recorded and evaluated using an electronic personnel management system. The environmental data are systematically collected as part of the environmental management system in accordance with EMAS Regulation (EC) No. 1221/2009 and DIN EN ISO 14001:2015 and are subject to external validation or certification by an accredited environmental auditor. The determination of greenhouse gas emissions is based on the requirements of the Greenhouse Gas Protocol. The heat values and emission factors – insofar as they are subject to emissions trading – are evaluated in accordance with the specifications of the German Emissions Trading Authority (DEHSt). The data published in the report forms the basis for annual participation in the internationally recognized climate reporting of the non-profit organization CDP.
All forward-looking statements made in this report take into account risks and uncertainties and are based on available information and forecasts at the time of publication. Although the forward-looking statements have been prepared with great care, deviations may occur due to various factors that could not be foreseen at the time of publication.
The key figures recorded in the report have been rounded in accordance with standard commercial practice. In individual cases, rounding may mean that values do not add up exactly to the stated total. This also applies to percentages.
External audit and certification
The audit of the consolidated financial statements and the Group Management Report was conducted by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft in accordance with Section 317 HGB and the generally accepted German standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). The audit was completed on May 8th, 2023 and, in accordance with Section 322 (3) sentence 1 of the German Commercial Code (HGB), has not led to any reservations concerning the propriety of the consolidated financial statements and the Group Management Report.
PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft also conducted a limited assurance review of selected sustainability performance data and indicators that are material to FMG. The audit was performed using the «International Standard on Assurance Engagements» (ISAE 3000 (Revised)) Information and key figures in the scope of the business audit are marked with the following symbol in the GRI Content Index in the «External audit» column:
As part of the annual audit and the environmental statement, information on the environmental management system in accordance with EMAS Regulation (EC) No. 1221/2009 and DIN EN ISO 14001:2015 was validated by the accredited environmental verifier Dr. Reiner Beer (DE-V-0007) of Intechnica Cert GmbH (DE-V-0279). The information additionally audited by Intechnica Cert GmbH is marked with the following symbol in the GRI Content Index in the «External audit» column: