«Staying on track» / GRI 102-46; GRI 102-48; GRI 102-49
With «Staying on track», Flughafen München GmbH (FMG) is publishing its eleventh integrated report as an annual balance sheet of responsible actions, thereby considering all of the key aspects along the value creation process: finances, employees, expertise, environment, infrastructure, and society. Using the changes in the forms of capital, the airport can demonstrate key cause-and-effect relationships as well as short-, medium- and long-term value added or impairment. Integrated corporate leadership and holistic thinking help to further cross-linking among various divisions – and thus agility and efficiency within the organization.
The integrated report is published in a full version, available online, and as an abridged print version. The online report (referred to below as the integrated report) encompasses all the reporting content. The print report does not include the GRI Content Index, the sustainability program, overview of key topics, sustainability indicators with the assurance report, or the notes to the consolidated financial statements with the auditor’s report.
The integrated report is produced annually. The reporting period covers the fiscal year from January 1 to December 31, 2020. The last integrated report was published on Monday, June 29, 2020.
The Senior Vice President Corporate Communication & Politics is responsible for the integrated report. The Executive Board inspects and approves it. The consolidated financial statements and Group management report are approved by the shareholders’ meeting of Flughafen München GmbH.
Further information can be found on the Munich Airport website (e.g., detailed reports from the company’s departments). There are also numerous publications available to download.
Content of the report / GRI 102-49
In addition to the consolidated financial statements, which in accordance with section 315e (3) of the German Commercial Code (Handelsgesetzbuch – HGB) are voluntarily prepared as per the internationally recognized accounting standards, the integrated report also includes information on sustainability. The topics that are material to the company’s business activities are identified based on a materiality analysis and depicted within the framework of the annual reporting.
The material topics constitute key content for strategic sustainability management. These are economic, environmental, and social issues that are relevant to the company’s short-, medium-, and long-term value creation. They are also the issues that can potentially influence decisions by stakeholders. Moreover, issues that have an economic, environmental, and social impact are also considered material. They are described in this report.
It is presumed that Munich Airport can actively influence all the material issues within the relevant divisions (business, corporate, and service divisions, as well as the subsidiaries and affiliated companies, and support offices). The sustainability program outlines FMG’s goals and measures for managing the material issues.
Integrated reporting according to IIRC
Integrated thinking and action form the basis for integrated reporting. This offers a holistic and farsighted description of the business activity of a company. Since 2010, FMG, as a member of the <IR> Business Network, has conducted its integrated reporting using the framework set out by the International Integrated Reporting Council (IIRC). FMG’s reporting is based on the guiding principles and the necessary content elements of the International <IR> Framework.
This report was prepared in accordance with the GRI standards: Comprehensive option. Furthermore, Munich Airport takes account of the GRI’s G4 sector disclosures for airport operators. The GRI Content Index makes reference to the parts of the report that contain relevant information and explains if and how these are assessed. As it applies the German Sustainability Code (GSC), FMG also refers to the transparency criteria required under the GSC in the GRI Content Index.
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 2020 Group Management Report was also created in accordance with the requirements of German Accounting Standard DRS 20.
Data collection and calculation methods / GRI 102-48; GRI 102-49
In general, the data collected refers to the period described above or to the situation at the end of the reporting period. Where any information is based on a different time period, this is stated explicitly. Unless otherwise indicated, the information and figures in this report refer to the entire group, including affiliated companies in which FMG holds a controlling interest. Explanations are provided should the scope of consolidation differ.
All data and information were collected by the relevant organizational units for the reporting period using representative methods. Changes are highlighted in the corresponding footnotes.
Human resources data is primarily collected and evaluated by an electronic HR management system. Environmental data are recorded systematically in the environmental management system according to EMAS Regulation (EC) No. 1221/2009 and DIN EN ISO 14001:2015 and are subject to external validation or certification by a certified environmental auditor. Greenhouse gas emissions are calculated as per the specifications of the Greenhouse Gas Protocol. Heat values and emission factors subject to emissions trading are recorded in accordance with German Emissions Trading Authority (DEHSt) guidelines. The data published in the report form the basis for annual participation in the Carbon Disclosure Project (CDP).
All statements made in this report on future matters take risks and uncertainties into account and are based on the information and forecasts available at the time of publication. While all forward-looking statements are made with great care, deviations may arise for a number of different reasons that could not have been foreseen at the time of publication.
The figures listed in this report have been rounded according to standard commercial practice. In isolated cases, this may result in values not adding up exactly to the stated total. This also applies to percentages.
External audit and certification
The Group Management Report and consolidated financial statements were audited by KPMG AG Wirtschaftsprüfungsgesellschaft in accordance with section 317 of the German Commercial Code (Handelsgesetzbuch – HGB) and in compliance with the German standards for the proper audit of financial statements as defined by the German Institute of Public Auditors (Institut der Wirtschaftsprüfer – IDW). The audit was concluded on May 11, 2021, and pursuant to section 322 (3), first sentence, HGB did not lead to any objections relating to the consolidated financial statements or Group management report.
KPMG AG Wirtschaftsprüfungsgesellschaft also conducted an audit with limited assurance on selected information and figures related to the sustainability performance that are of material relevance to FMG. The «International Standard on Assurance Engagements» (ISAE) 3000 was used as a basis for the audit. Information and figures audited as part of this process are marked in the «External audit» column of the GRI Content Index with the following symbol:
As part of annual auditing and the environmental statement, information on the environmental management system was validated in accordance with the EMAS Regulation (EC) No. 1221/2009 and DIN EN ISO 14001:2015 by accredited environmental auditor Dr. Reiner Beer (DE-V-0007) of Intechnica Cert GmbH (DE-V-0279). The data additionally checked by Intechnica Cert GmbH are marked in the «External audit» column of the GRI Content Index with the following symbol: