Report profile

«Moving our World»

This report, titled «Moving our World», is the integrated report for Flughafen München GmbH (FMG). It functions as an annual balance sheet for our responsible actions, with special attention to all the key aspects of the value creation process: finances, employees, expertise, the environment, infrastructure, and society as a whole. The airport can use changes in types of capital to highlight material cause-and-effect relationships as well as short-term, medium-term, and long-term value creation or reduction. Integrated corporate governance and holistic thinking promote interconnectivity among the various divisions – and thus both agility and efficiency within the organization.

The integrated report is published in a full online version and an abridged print version. The online report (the »integrated report«) encompasses all of the reporting content. The print version does not include the report profile, the GRI content index, the sustainability program, an overview of material topics, the sustainability figures with the independent auditor’s report, or the consolidated notes with the independent auditor’s report.

The head of Corporate Communication & Politics and the head of Corporate Development – Sustainability Management are responsible for the integrated report. The executive board reviews and approves the report. The consolidated financial statements and Group Management Report are approved by the Shareholders’ General Meeting of Flughafen München GmbH. Further information is featured on the Munich airport website (examples include detailed reports from the company’s departments). There are also numerous publications available to download.

Report contents

In addition to the consolidated financial statements, which are voluntarily prepared in accordance with International Accounting Standards pursuant to Section 315e (3) of the German Commercial Code (HGB), the integrated report includes information on sustainability performance. The topics material to the company’s business activity are identified on the basis of a materiality analysis and depicted in the context of the annual reporting.

The material topics represent central content in relation to strategic sustainability management. These are economic, environmental, and social topics that are important to the company’s short-term, medium-term, and long-term value creation. At the same time, they are topics that could potentially affect stakeholder decisions. Topics with economic, environmental, and social impact are also viewed as material. They are described in this report.

For all material topics, it is presumed that Munich Airport can influence them in the relevant divisions (business, corporate, and service divisions, along with subsidiaries and participations and the staff departments). The sustainability program highlights the goals and measures used by FMG to address the material topics.

Fundamentals of reporting

Integrated reporting as defined by the IFRS Foundation

In its integrated reporting, FMG follows the framework created by the IFRS Foundation (formerly Value Reporting Foundation). The reporting is geared toward the guiding principles and required content elements set out in the International <IR> Framework.

Sustainability reporting

The integrated report is published annually. FMG reports in compliance with the GRI Standards for the reporting period from January 1 to December 31, 2023. Munich Airport also takes the GRI G4 Sector Disclosures for Airport Operators into account. The GRI content index contains references to the relevant report content and information on whether specific content was reviewed, and if so how. Omissions are indicated and described. As a user of the German Sustainability Code (DNK), FMG also refers in its GRI content index to the transparency criteria required by this code.

Information in the financial report

Pursuant to Section 315e (3) of the German Commercial Code (Handelsgesetzbuch – HGB), FMG voluntarily prepares the consolidated financial statements in accordance with International Accounting Standards. The company applies the International Financial Reporting Standards (IAS/IFRS) and interpretations (SIC/IFRIC) published by the International Accounting Standards Board (IASB) and by the International Financial Reporting Standards Interpretations Committee (IFRS IC) as adopted by the European Union. It also observes the regulations of Section 315e (3) sentence 2 in conjunction with (1) HGB.

The 2023 Group Management Report was also prepared in accordance with the requirements of German Accounting Standard DRS 20.

Data collection and calculation methods

The data collected typically relate to the period mentioned above or to the status at the end of the reporting period. Where individual information is based on other periods, this is explicitly indicated. Unless otherwise noted, the information and key indicators in this report relate to the entire Group, including the participations in which FMG holds a majority stake. Any consolidation groups that deviate from this are explained accordingly.

All data and information were collected using representative methods by the units that were responsible in subject-specific terms for the reporting period. Amendments are noted using corresponding footnotes.

Personnel data are collected and analyzed using electronic personnel management systems. Environmental data are systematically collected within the scope of the environmental management system pursuant to the EMAS Regulation (Regulation (EC) No. 1221/2009) and DIN EN ISO 14001:2015 and are subject to external validation and/or certification by an accredited environmental verifier. The determination of greenhouse gas emissions is geared toward the specifications of the Greenhouse Gas Protocol. To the extent that they are subject to emissions trading, heat values and emission factors are assessed according to the specifications of the German Emissions Trading Authority (DEHSt). The data published in the report form the basis for annual participation in the internationally acknowledged climate reporting of nonprofit organization CDP.

All of the forward-looking statements made in this report take risks and uncertainties into account and are based on available information and forecasts at the time of publication. Although the forward-looking statements were developed with great care, there may be discrepancies as a result of various influencing factors that were not foreseeable as of the publication date.

The key indicators covered by the report have been rounded according to customary commercial practices. In individual cases, rounding may result in values that do not add up exactly to the total indicated. The same applies to percentages.

External auditing and certification

The audit of the consolidated financial statements and of the Group Management Report was performed by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft in accordance with Section 317 HGB and in compliance with the German Generally Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). The audit was concluded on April 26, 2024. Pursuant to Section 322 (3) sentence 1 HGB, we declare that the audit did not lead to any reservations relating to the legal compliance of the consolidated financial statements or of the Group Management Report.

PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft additionally performed a limited assurance audit with regard to selected information and key indicators relating to sustainability performance that are material to FMG. The audit was performed based on the International Standard on Assurance Engagements (ISAE 3000 (Revised)). Information and key indicators within the scope of the limited assurance audit are labeled with the following symbol in the »External Audit« section of the GRI content index:

Within the scope of the annual audit and the environmental declaration, information relating to the environmental management system pursuant to the EMAS Regulation (Regulation (EC) No. 1221/2009) and DIN EN ISO 14001:2015 was validated by accredited environmental verifier Dr. Reiner Beer (DE-V-0007) from Intechnica Cert GmbH (DE-V-0279). The information additionally audited by Intechnica Cert GmbH is labeled with the following symbol in the »External Audit« section of the GRI content index: