NEIGHBOURS SINCE 1927
F
Annual Report 2016
Five-year-Overwiew
2012–2016
Development of Traffic 20122013201420152016
Passengers
Passengers ( in millions)
Daily average
20.8321.2321.85
22.50
23.52
56,92158,159​59,864
61,579
64,443
Passengers 2012–2016
Aircraft Movements
Aircraft movements
217,219210,828210,732
210,205
217,574
593578577
​576
596
101,588110,815114,180
105,300
107,619
Aircraft movements 2012–2016
Daily average
Air freight
Airfreight turnover (t)
Development of Business
Air freight turnover 2012–2016
all figures in million EUR
Sales revenues 2012–2016
201220132014
20152016
425.8429.2
425.6
449.0464.9
1,035.21,067.61,079.8
1,044.0987.2
Sales revenues
Balance sheet sum
Fixed assets
944.0984.1
1.003.0
950.8927.4
Capital expenditures
75.3 104.2
83.1
62.646.8
Depreciation 71.061.3
63.5
68.669.9
Result for the year 40.334.5
42.9
53.759.9
Cash flow 95.2111.0
116.4
130.7124.1
2,2682,246
2,252
2,3142,205
Employees (headcount) Result for the year 2012–2016
Cash flow 2012–2016
Annual Report 2016
Five-year Overview
2
Editorial by Management 7
Group Structure 10
Bodies of the Company 11
Chronology 2016
14
Top Five Destinations and Airlines
24
Flight Services
28
Report by the Supervisory Board 33
Annual Accounts as at 31 December 2016
36
4
1927
Düsseldorf Airport Annual Report 2016
It was with this Junkers F13 with which
the airport introduced flight operations
again on 19 April 1927, after a winter
break. This day is now considered the
anniversary of the airport, particularly
since the airport company was also
founded on that date.
5
1927
6
Looking to the west: the airport building
and hangars, the Lohausen district in the
background.
Editorial by
Management
Dear Reader,
The importance of Düsseldorf Airport for the
Rhine-Ruhr Region was once more documented in
an impressive way in 2016. 23.5 million passengers
took off from and landed at the biggest airport in
NRW in 2016 - more than ever before. The desire
of our modern society for mobility is unstoppable,
since there is no exchange without mobility, no
growth without exchange and no prosperity without
growth. This is the reason why Düsseldorf Airport
is continuously working together with airlines from
all over the world to optimise the present routes
networks and developing new connections.
Our prospering economic region needs a futureoriented, international and intercontinentally operating airport that is in conformity with the market.
This is the reason why the creation of growth prospects is our foremost objective. The airlines and
our passengers love Düsseldorf Airport. We paved
the way for the future in 2015 by filing the planning
permit application for an increase in capacities.
A lot has happened since then in respect of the
application - from submission of the updated
documents to the responsible ministry, their public
posting and announcement in neighbouring communities, the information events offered to local
residents by the airport, and the public discussion
in the Düsseldorf Exhibition Centre.
200 companies stated in a recent survey of
members of the chamber of commerce and industry (IHK) that they are in favour of our application.
The conclusion of this survey was that “Düsseldorf
Airport is our gateway to the world and it should
continue to contribute towards ensuring prosperity
and our participation in international competition
from a business point of view. This is why we need
the new operating permit.”
Michael Hanné, Thomas Schnalke (Speaker),
Dr. Martin Kirchner-Anzinger (from left to right)
However, we have more to celebrate in 2017
than our excellent economic outturn for the past
year: Our 90th anniversary. The airport company
was established in 1927. The present annual report
lets you immerse yourself into the history of our
airport with historical photographs.
Our employees are the supporting pillars of our
company. We were able to rely on their competence and commitment once again. The same
applies to our partners. We owe all of them our
special thanks, combined with the wishes for a
continued and successful and trusting cooperation.
Let us all work together towards keeping Düsseldorf Airport as an important location factor for
the region. 21,600 people work at the DUS location,
and 56,000 from the region work for the airport.
Management
Thomas Schnalke Michael Hanné Dr. Martin Kirchner-Anzinger
Speaker
Düsseldorf Airport Annual Report 2016
7
8
1950
Düsseldorf Airport Annual Report 2016
Transfer of the airport to
the German administration
by the British.
9
Group Structure
Group
Flughafen Düsseldorf GmbH
50% State Capital City of Düsseldorf
50% Airport Partners GmbH
40% AviAlliance GmbH
20% AviC GmbH & Co. KGaA
40% Aer Rianta International cpt
Flughafen Düsseldorf Cargo GmbH (100 % FDG)
Flughafen Düsseldorf Ground Handling GmbH (100 % FDG)
Flughafen Düsseldorf Energie GmbH (100 % FDG)
Flughafen Düsseldorf Immobilien GmbH (100 % FDG)
Japon Grundstücksverwaltungsgesellschaft mbH & Co. Vermietungs KG (100% FDI)
LAROBA GmbH & Co. KG
(99,9% FDI)
Flughafen Düsseldorf Security GmbH (100 % FDG)
Flughafen Düsseldorf Tanklager GmbH
(40 % FDG)
Flughafengesellschaft Mönchengladbach GmbH
(70,03 % FDG)
Flughafen Mönchengladbach Grundstücksverwaltungsgesellschaft mbH
(100% FMG)
SITA Airport IT GmbH
(30 % FDG)
BISAWA Objekte Airport-Düsseldorf GmbH & Co. KG (100 % FDG)
Estamin Grundstücksverwaltungsgesellschaft mbH & Co. Vermietungs KG
(100 % FDG)
10
Shareholders
Bodies of the
Company
Airport Partners GmbH
State Capital City of Düsseldorf
Supervisory Board
Thomas Geisel
Lord Mayor
State capital city of
Düsseldorf
Chairman (since 16.January 2016)
Second Deputy Chairman
(until 15 January 2016)
Peter Büddicker
Trade union secretary
Regional administration
Unified
Service Trade Union ver.di
Employee representative
First Deputy Chairman
Dipl.-Kfm. Gerhard Schroeder
Managing Director
AviAlliance GmbH
Chairman (until 15 January 2016)
Second Deputy Chairman
Michael Henning
Consultant Wildlife Control and
Hunting Law
Employee representative
(alternate member)
Rainer Hindenburg
Group Manager
Employee representative
Uwe Kasischke
Personnel administrator
Employee representative
Werner Kiepe
Trade Union Secretary
Regional Administration
Unified Services Trade Union
ver.di
Employee representative
(since 16 January 2016)
Stefani Kleeberg
Editor
Employee representative
Dr.-Ing. Rolf Bierhoff
Former Member Board of
Directors RWE AG
Frank Krugmann
Shareholder representative
DAA plc, Ireland
(until 1 February 2016)
(since 8 December 2016)
Cafer Celik
Assistant warehouse manager
Employee representative
Dipl.-Ök. Holger Linkweiler
Managing Director AviAlliance
GmbH
Dr. Axel Epe
Lawyer
Volker Maassen
Works Council Chairman
Flughafen Düsseldorf
Ground Handling GmbH
Employee representative
(since 04 March 2016)
Raymond Gray
Group CFO DAA plc, Ireland
Michael Hanné
‘Prokurist’ and Business
Division Manager
Employee representative
(until 30 June 2016)
Heinz Hardt
Mayor (retired) , State capital
city of Düsseldorf
Angela Hebeler
Speaker GREENS in City
Council
Düsseldorf Airport Annual Report 2016
Markus Paulich
Chairman Works Council
Flughafen Düsseldorf GmbH
Employee representative
Stephanie Peifer
Manager
Regional Administration
Unified Services Trade union
ver.di
Employee representative
Andreas Rimkus
Member of the German
Bundestag
Michael Röder
Head of Personnel
Management
Employee representative
(since 14 October 2016)
Rolf Tups
Management consultant
Michael Upton
Senior Vice President
Finance daa international,
Ireland (until 24 November 2016)
Management
Dipl.-Kfm. Thomas Schnalke
Speaker of Management
Management Division
Aviation, Non-aviation and
Strategic Development
Düsseldorf
Michael Hanné
Managing Director
Labour Director
Management Division
Operations and Labour
Director
Düsseldorf (since 1 July 2016)
Dr. Martin Kirchner-Anzinger
Managing Director
Management Division
Property Management and
Commercial Affairs
Cologne (since 1 September 2016)
Dr. Ludger Dohm
Speaker of Management
Labour Director
Management Division
Aviation, Marketing, Property
Management
and Human Resources
Essen (until 30 June 2016)
Authorised signatories
(„Prokurists“)
Stefan Beitelsmann
Business division manager
Operations and Security
Düsseldorf (since 1 January 2017)
Anja Dauser
Business division
manageress
Property Management
Düsseldorf (since 1 January 2017)
Dipl.-Ing. Klaus Dirmeier
Business division manager
Real Estate Management
Essen
Michael Hanné
Business division manager
Operations and Security
Düsseldorf (until 30 June 2016)
Ellen Ludwig
Head of service and
control centre
Human Resources
Cologne (since 1 January 2017)
Karin Möllers
Business division
manageress Non-aviation
Düsseldorf
(until 31 December 2016)
Ilse Ruffer
Business division manageress Customer Management
Düsseldorf (since 1 January 2017)
Thilo Schmid
Business division manager
Aviation Management and
Corporate Development
Mülheim an der Ruhr
(since 1 January 2017)
Ulrich Worzalla
Head of service and
control centre
Commercial
Duisburg
11
12
1953
Düsseldorf Airport Annual Report 2016
Fascination of flying: Airport guests
are close to the action on the terrace
of the restaurant at the airport.
13
01
16 January
Lord Mayor Thomas Geisel takes over as Chairman of the
Supervisory Board
Thomas Geisel, Lord Mayor of Düsseldorf, took over as Chairman of the Supervisory Board for the regular office term. Gerhard Schroeder was appointed as Second Deputy Chairman.
2 March
Award for ecological commitment
The international certification programme “Airport-CarbonAccreditation (ACA)” once again honoured Düsseldorf Airport
for its commitment to the environment and for having repeatedly achieved the second accreditation level (“Reduction”)
of the climate protection programme. The airport plans to
reduce the volume of CO2 emissions per traffic unit (international calculation factor for one passenger with luggage or
100 kg of cargo) to 2.55 kilogrammes CO2 by 2020.
15 March
Airport City presents itself at the MIPIM
Flughafen Düsseldorf Immobilien GmbH (FDI) presented
Airport City at the biggest international commercial property
trade fair, MIPIM (Marché International des Professionels
del’Immobilie) in Cannes. About 85 percent of the total area in
Airport City has already been marketed. This business park,
right next to the terminal, is planned to be completed in 2018.
17 March
Düsseldorf Airport CEIV-Pharma-Certified
Flughafen Düsseldorf Cargo GmbH (FDCG) was the first German airport company to be officially CEIV-pharma- certified by
IATA, the International Air Transport Association, for its safe and
professional handling of pharmaceutical products. FDCG has
been running its DUS Pharma Centre (DPC) since August 2015
in order to guarantee the safe handling and optimum storage of
generally highly sensitive pharmaceutical products. The DPC
centre houses 23 temperature-controlled cold storage cells.
The DUS Pharma Centre has an investment volume of about
three million euros, not to forget the 12 new jobs that were
created here.
7 March
The airport presents its updated application for an
increase in capacities
Düsseldorf Airport presented the updated documents for its
planning permit application to increase capacities with an
amended operating permit by the responsible NRW State Ministry for Building, Housing, Urban Development and Transport
(MBWSV). After the application documents had been submitted
to the state Ministry of Transport in February 2015, the responsible public planning authority came to the conclusion that the extensive documents, expert opinions and plans would have to be
complemented. The actual wording was not the object of the
referenced update, so that the objective of the application remained unchanged.
10 March
New LED lights in the departure hall
New, modern light-emitting diodes with an investment volume of
500,000 euros brighten up the departures terminal at the airport
and help to cut the electricity demand by 75 percent. The airport
developed a completely new lighting concept for this conversion
measure and now saves about 270 kWh every hour under consideration of a consumption of approximately 63.5 kilowatt
hours (kWh). However, this sustainable technology offers yet another advantage: It does not have to be maintained for ten years.
14
24 March
Inauguration of the commemorative inscription
for the victims of the Germanwings disaster
An inscription in memory of the victims of the plane crash
was dedicated at Düsseldorf Airport on the occasion of
the first anniversary of the Germanwings disaster of Flight
4U9525 on its way from Barcelona to Düsseldorf.
Chronology 2016
30 March
DUS active on Instagram
The airport continued to expand its presence in the social media
and is now not only present on Facebook and YouTube but also
on the online platform Instagram. The airport’s social media team
publishes particularly special moments all around the airport on
the Instagram channel “Instagram.com/dusairport”.
6 April
Six new e-cars increase electromobility
Ten new electrically powered BMW-type i3 cars are now part
of the company’s vehicle fleet. These vehicles are part of the
research project “Premium” that was initiated by the Federal
Ministry for the Environment, Nature Conservation and Nuclear Safety in cooperation with the University of DuisburgEssen, the BMW Group and other partners.
3 April
“Kids’ Airport Festival” with lots of children’s stars
Knights and pirates romped around the terminal: The Mouse,
Käpt’n Blaubär and Hein Blöd were ready to have their photos
taken, and Volker Rosen, the King of the Kids’ Disco, rocked
the stage. All of the stations at the “Kids’ Airport Festival”
were free of charge and invited young and old to play, join in
and be amazed. The terminal is firmly in the hands of children
once a year.
04
5 April
New gastro concept
The airport bets on a new gastronomy concept that makes provisions for the conversion of nine restaurants. SSP Germany, the
German subsidiary of the British group with the same name, will
operate six areas in the public sector and one area each in Piers
A and C. Jamie Oliver, for instance, with “Jamie’s Deli” and
“Jamie’s Coffee Van” will be opening his first locations in Germany at the airport. The popular restaurant “Hausmann’s” that is
run by the TV cook Tim Mälzer will also be located at the airport
in the near future, along with “KFC”.
Düsseldorf Airport Annual Report 2016
11 April
Six startups vie for the “DUS Highflyer Award”
Düsseldorf Airport was caught up in the startup fever: Lord
Mayor Thomas Geisel, Thomas Schnalke, the managing director of the airport, and Hanns Tappen, CEO of the initiative
“Startupdorf e.V.”, gave the starting signal for the final stage
of the “Startup Award” on the occasion of the event “Düsseldorf Startup Week”. The six semi-finalists presented themselves to the public in the terminal at the airport or it was all
about a flight-sharing centre, private shopping services, baggage delivery services, an app for location-based, ad hoc
communication, customer loyalty bonuses, liquidators or
even a global online lost-and-found office – all six startups
documented a great deal of potential. The winner can look
forward to a prize worth 50,000 euros and even an office at
the airport.
15
04
20 April
Premiere at the “Polis Convention”
From a military barracks location to an established business
park: Düsseldorf Airport City successfully mastered this
transformation in only ten years. Flughafen Düsseldorf
Immobilien GmbH (FDI) presented this successful model to
investors and project developers at the “Polis Convention”,
the new trade fair for urban and project development.
20 April
Application to increase capacities is ready for display in the
public involvement procedure
The NRW Ministry of Building, Housing, Urban Development
and Transport and the responsible hearing authorities and the
District Government of Düsseldorf classified the application
documents for planning permission to increase capacities as
being ready for display in the public involvement procedure. The
district government then introduced the next step in this administrative procedure, namely the involvement of the broad public. The airport published all of the documents in advance on
its website so that all of the interested parties could familiarise
themselves with the airport’s plans before they were put on
display for public inspection. The airport additionally carried out
three other information events in the cities of Ratingen, Düsseldorf and Meerbusch.
16
0
2 May
The biggest indoor advertising area at an airport
Nearly seven by four metres - that is how big the large format
advertising area is that was hung from the ceiling of the departure hall at Düsseldorf Airport to play advertising messages from different companies. This area was the biggest
digital indoor advertising areas in the interior of an airport in
Germany at that time. With its format of more than 25 square
metres and a weight of more than five tons, the so-called
“DUS AD BOARD” is the new figurehead for advertising opportunities at Düsseldorf Airport, in every sense of the word.
11 May
New functions for the “DUS Airport App”
A new design, more personalised and faster: Düsseldorf Airport revised its app fundamentally. The airport launched the
latest free version of its “DUS Airport App” for the operating
systems iOS and Android. Now passengers, meters and
greeters and visitors have all of the important information at
their fingertips. They can get information about departures
and arrivals, airport services and their own flight status and
flight changes.
05
17 May
More than 100,000 Facebook Fans
The 100,000th fan clicked the “like” button on the airport’s
official Facebook page, and got a nice surprise in return: a
360 degree film of the apron and the landing of the A 380.
More than 1,400 posts have been published and intensively
exchanged between fans to date.
26 May
Heavy Metal at the airport
A heavy visit: The Heavy Metal band Iron Maiden landed at
Düsseldorf Airport with their “Ed Force One” plane - a specially painted Boeing 747. Behind the throttle was no one less
than the band’s lead singer, Bruce Dickinson. Thousands of
Heavy Metal fans watched this spectacle from the visitors’
terrace. Dickinson is a trained pilot who flew a Boeing 757
for many years for the British airline Astraeus. He took extra
flying lessons to fly this bird and acquired his Boeing 747
license so he can fly the band from one city to another on
their “The Book of Souls Tour 2016”.
Düsseldorf Airport Annual Report 2016
Chronology 2016
31 May
Düsseldorf Airport advocates a future-oriented
air traffic concept for NRW
Düsseldorf Airport spoke to the state parliament and advocated
a speedy wording of a future-oriented air traffic concept for
NRW. During a public hearing of the Advisory Committee for
Building, Housing, Urban Development and Transport, Dr Ludger Dohm, Speaker of Management at the airport, spoke as an
invited expert and emphasised the importance of a functioning
airport landscape and the leading role of Düsseldorf Airport as a
“NRW’s gateway to the world”.
1 June
Düsseldorf Airport tweets on Twitter
Düsseldorf Airport joined Twitter and, in so doing, expanded its
social media channels by another information platform. DUS
can be found in this microblogging service under the profile
@dusairport. The airport’s “tweets” consist of the latest news
around the airport, in addition to news from the aviation industry
06
5 June
Dance spectacle at the airport
“Dance, Terminal, Dance!” entered its seventh round and
transformed the departure hall into a great dancefloor. The
best Latin American dance couples in NRW competed for the
“Düsseldorf Airport Cup” in front of Joachim Llambi, the star
juror. Visitors had the opportunity to participate in workshops
and two finals couples from the TV show “Let’s Dance” stole
the show – and all of that with free admission!
17
07
22 July
Singapore Airlines approaching
A new airline, a new destination, a new aircraft type: Singapore Airlines now links the biggest airport in NRW by offering
three weekly non-stop flights to its hub in Singapore. Another
highlight is the fact that Singapore Airlines operates an Airbus A350-900 on this route. The airline introduced scheduled
flight services for the first time at Düsseldorf Airport on this
date.
1 July
Two daily flights to Dubai with an A 380
The airline Emirates that has linked Düsseldorf with Dubai
since 2001 continued to write its history of success at the
biggest airport in NRW. The airline from the United Arab
Emirates started operating its flagship, an A 380, on its
second daily flight connection to Dubai. This “big bird” has
been operating around noon every day and flying between
Düsseldorf and the hub on the Arabian Gulf since July 2015.
A Boeing B777-300 plane was employed for the evening
flight on this route.
2 July
Blockbusters on the visitors’ terrace
“Run the film!” was heard for the third time at the “OpenAirCinema” on the airport terrace. Operations went on as usual on
the apron with planes landing and taking off while visitors
were able to experience an extraordinary atmosphere while
watching a film on the 12 x 6 metre large screen. And the airport topped it all off this summer following the success of this
event in recent years by allowing cinema and airport fans to
watch entertaining blockbusters on the terrace every weekend in July, meaning ten cinema days in all.
18
25 July
Johannes Remmel, Minister of the Environment, puts the
third PFT treatment system into operation
Johannes Remmel, NRW Minister of the Environment, visited
one of the three PFT groundwater treatment systems at the
airport. These large-scale facilities at the former fire water
protection tanks, Fire Station North and the western end of
Runway South help to prevent PFT-contaminated groundwater from flowing to Kaiserswerth from the airport. The degree
of cleaning of all three purification systems is almost 100 percent. The airport invested about two million euros in the construction of these three large-scale systems in order to meet
its obligations.
24 August
Parking without cash and without a ticket
Düsseldorf Airport and the startup Evopark have done away with
having to go to the automatic pay station. Car Park 7 at the airport now offers a service with which you no longer have to take a
ticket or pay at the pay station. All customers have to do is place
a parking card in the cockpit of the vehicle. This integrated RDID
chip card sends a signal to the barrier and opens it automatically
while entering or leaving. The parking time is registered automatically and billed at the end of the month.
08
29 August
“Open Day” in the training workshop
Düsseldorf Airport invited pupils to an “Open Day” in the training workshop. This was the fifth time that the human resources development team and the apprentices informed visitors
about the individual job profiles, in addition to being available
to answer all sorts of questions and talk about vocational training at the airport. Visitors also had the opportunity to get some
practical experience while trying their technical skills while
soldering and bending an aircraft model from a board.
1 September
The new management
Dr Martin Kirchner-Anzinger took over his new function as
commercial director. In so doing, he completed management
of the airport together with Thomas Schnalke, Speaker of
Management, and Michael Hanné who was appointed as
a managing director with effect from 1 July 2016. Thomas
Schnalke, Management Spokesman, is consequently
responsible for the areas Aviation, Non-aviation and Strategic
Development of the airport. Labour Director, Michael Hanné,
is responsible for the operative areas, and Dr Martin KirchnerAnzinger bears responsibility for Commercial Management,
including Property Management.
Chronology 2016
2 September
New apprentices and students ready to take off
Flughafen Düsseldorf GmbH has never offered so many
training professions. A total of 21 apprentices and dual
students started their professional training in many different
technical and commercial areas, after having been given a
cordial welcome by management of the airport and their
new colleagues.
09
2 September
Cathay Pacific with a new A 350
Düsseldorf Airport is the first destination at which Cathay
Pacific operated the new Airbus type A 350. The airline
operated a Boeing 777 for flight services from Düsseldorf to
Hong Kong in the past. The new Airbus A 350 is quiet and
environmentally friendly, in addition to offering Cathay Pacific
passengers a three-class configuration with 280 seats and
the latest generation of inflight products.
Düsseldorf Airport Annual Report 2016
5 September
Information evening at the airport
How does noise from air/railway and road traffic affect people’s
health and the quality of life? Professor Dr Thomas Penzel, Head
of the Medical Sleep Centre at the Charité Hospital in Berlin, lectured on this subject during the Information Evening at the airport. This lecture provided a well-founded scientific overview of
the current status of noise effect research
18 September
“Massimo Dutti” opens a shop in Pier A
“Massimo Dutti” represents contemporary, urban and
elegant fashion. This Spanish label now has a store in Pier A
at Düsseldorf Airport. This is only the second shop the label
has opened at a German airport. Massimo Dutti not only
offers casual yet chic leisure wear but also classical business
outfits.
19
09
289 September
Children’s birthday party at the airport
Düsseldorf Airport added another new special tour to its range
of excursion opportunities: The Children’s Birthday Party Tour.
This entertaining and still educational party goes from 02:30 pm
until 04:30 pm every Friday. Children between the ages of five
and twelve can enjoy a close-up look at the airport with their
brothers, sisters and friends during these exciting birthday
parties at the airport.
29 September
DUS sounds good
More than 60,000 passengers visit the airport on an average day.
To this we must add a countless number of visitors, meeters and
greeters, not to forget the employees of the airport. They all
get something to hear now since the airport has introduced a
Corporate Sound with a distinctive sound logo. Among others,
this jingle can be heard during announcements in the terminal,
in the SkyTrain, or even in the phone loop.
7 Oktober
“Passngr” now available for Anrdoid
A single app - a lot of comfort: In the past, “Passngr” offered
iOS users information about current flight data, shopping opportunities and helpful services. Now this cross-airport app – a joint
effort by the airports in Hamburg, Munich and Düsseldorf – is
also available for Android in the Google Play Store, so that
“Passngr” can now reach even more travellers, thanks to the
Android version. You don’t have to install a different app for every
airport. Now users can comfortably access important information with the new cross-airport program.
11
10
4 Oktober
Düsseldorf Airport at the Expo Real
This was the sixteenth time that Düsseldorf Airport attended
Europe’s biggest trade fair for property and investment in
Munich. DUS presented its modern business park Düsseldorf
Airport City on this occasion. A total of 1,700 exhibitors presented the most popular business locations and the most modern
building technologies around commercial properties in this
64,000 square metre large area at the Expo Real.
6 Oktober
Airport chaplain services now ecumenical
The airport has been offering chaplaincy services for 15
years. These services are now ecumenical and are offered for
the first time by the Protestant and Catholic churches in
Düsseldorf. Ute Clevers and Johannes Westerdick, the
airport’s new pastors, support and encourage passengers
and always have an open ear for all matters. They additionally
assume an important function in connection with emergency
management. The Airport Chaplaincy was initiated in 2001.
Düsseldorf Airport supports this service financially along with
the churches.
20
5 November
Circus Festival in the terminal
The terminal was transformed into a gigantic circus ring for
the latest remake of the popular event Circus Festival. About 40
international artists performed a programme on several stage
areas and in the air. Acrobats bent under the roof of the terminal,
artists flew over the heads of spectators, and hypnotic juggling
acts met graceful dancing movements.
10 November
Air Seychelles approaching
Air Seychelles, the Seychelles national airline, announced
that it would operate a non-stop flight connection between
the Seychelles and Düsseldorf Airport at the beginning of the
summer flight season 2017. The flight to this island paradise
south of the Equator takes a little more than ten hours and will
be flown with an Airbus A 330-200 twice a week. Air Seychelles was established in 1978 and introduced its long-haul
flight services in 1983. The airline’s fleet presently consists of
nine aircraft. An additional long-haul plane will be added to
the fleet at the beginning of the summer flight schedule period.
Chronology 2016
24 November
A hydrogen hybrid vehicle for airport’s vehicle fleet?
Düsseldorf Airport takes its responsibility for protection of the
environment and climate very seriously, and places emphasis on
renewable energies. The purchase of a Hyundai ix35 Fuel Cell by
Düsseldorf Airport represented the first addition of such a vehicle to the vehicle fleet of a German airport. Flughafen Düsseldorf
GmbH already operates 16 e-cars, and the airport also plans to
convert 30 vehicles to alternative drives by 2020.
1
25 November
The airport is the biggest workplace in Düsseldorf
About 21,600 people work at Düsseldorf Airport. The airport
is still the biggest workplace in Düsseldorf and one of the biggest in NRW, so roughly 1,800 more people work at Düsseldorf Airport than was the case during the previous survey in
2014. More than 18,100 employees of the roughly 21,600
employees at DUS work for airlines, forwarding agents, air
freight companies, caterers, representatives from the hotel,
food and beverage and retailing trades, travel agents, car
rental companies, oil companies, authorities, such as the
Federal Police, as well as the airport company and its subsidiaries. Approximately 3,500 employees additionally work for
one of the roughly 70 companies in Airport City.
30 November
DUS supports Alliance for Infrastructure
Düsseldorf Airport supports the “Alliance for Infrastructure” of
the government of the state of North Rhine-Westphalia. DUS
was one of the first companies to sign the memorandum. The
“Alliance for Infrastructure” is a joint initiative of Minister of
Transport, Michael Groschek, Minister of Finance, Dr Norbert
Walter-Borjans, and Minister of the Economy, Garrelt Duin.
This alliance aims to promote the acceptance of infrastructure
projects by the public and consequently accelerate their implementation.
Düsseldorf Airport Annual Report 2016
13 December
Six new connections with Norwegian
Norwegian, the Scandinavian low-cost carrier, will start the
summer season 2017 with five flight connections to Düsseldorf. These flight services will go to Barcelona, Tenerife, Malaga, Alicante and Palma de Mallorca. Particularly the Spanish
market has assumed increasing importance in recent times,
owing to the high demand for flights to the holiday regions.
22 December
DUS cracks another passenger record
Mobility, including planes, are more important than ever
before to the people and companies in the Rhine-Ruhr
Region. This is reflected in the most successful traffic year in
the entire history of the airport: Never before have so many
people taken off from or landed at the biggest airport in NRW.
The 23 millionth passenger was welcomed at DUS before the
year ended: Eurowings passenger Felicia Lonnes.
12
30 December
Package of measures to improve punctuality
2016 not only presented the airport with a record number of
passengers but also high delay figures. This is a development
that the airport takes very seriously and with which it is not satisfied. Both the airport and its industrial partners will implement a
package of measures in 2017. These measures are designed to
improve the aspect of punctuality at the airport.
21
22
1960
Düsseldorf Airport Annual Report 2016
Enjoy your meal! In suit and tie: The man of
the world never leaves home without a suit
and tie – least of all to the airport.
23
1
Munich
1.6m passengers
Palma de Mallorca
1.3m passengers
3
2
Berlin
1.1m passengers
Istanbul
1.0m passengers
5
4
Vienna
0.9m passengers
24
1
Top five Destinations and Airlines
from DUS in 2016
Air Berlin
7.5m passengers
Germanwings/Eurowings
5.0m passengers
3
5
2
Lufthansa
1.4m passengers
4
Condor
0.9m passengers
Düsseldorf Airport Annual Report 2016
Sun Express
0.8m passengers
25
26
1977
Düsseldorf Airport Annual Report 2016
The biggest airport in NRW grows with
its tasks: Piers A and B are already in
operation, and Pier C will follow soon.
27
A
Abu Dhabi
Adana
Agadir
Alicante
Almeria
Amsterdam
Ankara
Antalya
Arbil/Erbil
Arrecife (Lanzarote)
Athen
Atlanta
Baghdad
Barcelona
Bari
Basle
Bastia
Beirut
Belgrad
Berlin-Tegel
Bilbao
Billund
Birmingham
Boa Vista
Bodrum
Bologna
Boston
Bridgetown
Brindisi
Bristol
Bucharest
Budapest
Burgas
204 destinations
52 countries
72 airlines
USA
Iceland
Nor
D
E
Dalaman
Djerba
Doncaster-Sheffield
Dresden
Dubai
Dubai-World Central
Dublin
Dubrovnik
Mexico
Jamaica
Cuba
Dominican
Republic
Barbados
Great Britain
Ireland
Netherlands
Luxem
Sw
France
Netherlands
Antilles
Portugal
Spain
Tun
Canaries
Morocco
B FH
K
I
CG J
28
Cagliari
Calvi
Cancun
Cardiff
Catania
Chania (Crete)
Chicago
Copenhagen
Corfu
Cork
Curaçao
East Midlands
Edinburgh
Edremit
Elazig
Enfidha
Faro
Florenz
Fort Myers
Frankfurt
Friedrichshafen
Fuerteventura
Funchal
Gaziantep
Gazipasa
Genva
Genua
Glasgow
Gothenburg
Gran Canaria
Graz
Guernsey
Den
Cape Verde
Hamburg
Hatay
Havanna
Helsinki
Heraklion
Heringsdorf (Usedom)
Hévíz-Balaton
Hong Kong
Hurghada
Ibiza
Innsbruck
Istanbul-Ataturk
Istanbul-Sabiha Gökçen
Izmir
Jerez de la Frontera
Jersey
Jönköping
Kalamata
Karpathos
Katowice
Kavalla
Kayseri
Kiev
Kos
Kütahya
Flight Services 2016
Düsseldorf Airport
rway
Finland
Sweden
nmark
Latvia
Russia
Poland
Czech
China
Republic
Ukraine
Austria
Japan
mbourg
Rumania
witzerlandHungary Bulgary
Croatia Serbia
Kosovo
Iraq Iran
Montenegro
Turkey
Italy
Macedonia
Greece
CyprusLebanon
United
Arab EmiIsrael
rates
Malta
Hongkong
Egypt
nisia
Singapore
LM
La Romana
Lajes
Lamezia-Terme
Leeds-Bradford
Leipzig/Halle
Linz
Lisbon
London-City
London-Gatwick
London-Heathrow
Longyearbyen (Spitzbergen)
Los Angeles
Luxembourg
Luxor
Lyon
Düsseldorf Airport Annual Report 2016
Madrid
Mahon (Menorca)
Milan-Linate
Milan-Malpensa
Malaga
Malatya
Malta
Manchester
Marrakech
Marsa Alam
Marseille
Miami
Montego Bay
Montpellier
Moscow-Domodedovo
Moscow-Sheremetyevo
Munich
Mykonos
N
Nador
Nantes
Naples
New York-JFK
New York-Newark
Newcastle
Newquay
Nice
Nuremberg
O
Olbia
Oslo
Ostrava
P
Palma de Mallorca
Paphos
Paris-CDG
Patras-Araxos
Peking/Beijing
Podgorica
Ponta Delgada
Porto
Porto Santo
Poznan
Prague
Preveza
Priština
Puerto Plata
Pula
Punta Cana
S
Sal
Salzburg
Samos
Samsun
San Francisco
Santa Cruz de la Palma
Santorin (Thira)
Santo Domingo
Sharm El Sheikh
Singapore
Skiathos
Skopje
Sofia
Southampton
Split
St. Petersburg
Stockholm
Stuttgart
Sulaymaniyah
T
Teheran
Tel Aviv
Tenerife-South
Thessaloniki
Tokyo-Narita
Trabzon
Tunis
U
Umea
V
W
Z
R
Reykjavik/Keflavik
Rhodos
Riga
Rijeka
Rimini
Rome
Valencia
Varadero
Varna
Venice
Vienna
Warsaw
Westerland (Sylt)
Wroclaw/Breslau
Zadar
Zakynthos
Zonguldak
Zurichakynthos
Zonguldak
Züric
29
30
1990
Düsseldorf Airport Annual Report 2016
Düsseldorf - Tokyo: NRW appears on the
map of the world with long-haul flights to
the USA, Canada and Asia.
31
2005
32
The airport at night. This aerial photo was
taken from a balloon. Unmistakable: the new
semicircular terminal.
Report by the Supervisory Board
for the Business Year 2016
Düsseldorf Airport registered 23.5 million passengers in 2016
and an increase of 4.5 percent, which was the eighth passenger
record in succession, so that the airport has grown a lot stronger than the market. Never before in its 90-year history was
Düsseldorf Airport with its long-haul connections and consequently also North Rhine-Westphalia, the most densely populated state in Germany so excellently linked with the rest of the
world, and never before has the demand been so high. Singapore Airlines, the five-star airline has been connecting the Asian economic metropolis with Düsseldorf since July 2016. Other
airlines, such as the Scandinavian carrier Norwegian and Air
Seychelles will round off the air traffic portfolio of the state capital city in North Rhine-Westphalia even more in 2017. The gratifying traffic figures noted for the past year encourage the airport in its efforts to continue to be the gateway to the world for
people in the region. The airport’s capacity will absolutely have
to be in-creased in order to do justice to this claim in future in
terms of efficient infrastructures on the ground and in the air.
This objective will be achieved in connection with a modification
of the airport’s operating permit to meet the demand situation.
The Supervisory Board of Flughafen Düsseldorf GmbH has perceived the duties and responsibilities provided for by law and
the Partnership Agreement throughout the business year under review and has also monitored and consulted management
of the company during this period. In so doing and within the
scope of its advisory and supervisory duties, the Supervisory Board has, among others, constantly dealt in detail with the
standing of the company, the development of business, corporate planning, investment activities and the company’s business
policy, as well as requesting additional information from management about important issues on selected topics in connection with its advisory and supervisory activities.
In addition to being regularly informed by management in writing
and orally in respect of the standing and development of the
company, the Supervisory Board and the (sub-) committees installed from its midst were also informed about material events
and important business transactions. Whenever business
transactions required the express approval of the Supervisory Board, management duly requested them. The Chairman of
the Supervisory Board additionally informed himself constantly
about material operational occurrences.
Warth & Klein Grant Thornton AG Wirtschaftsprüfungsgesellschaft, Düsseldorf were chosen as the company auditors by the
Shareholders’ Meeting of the company and contracted by the
Supervisory Board to audit the Annual Accounts as at 31 December 2016, the Annual Report 2016, the Consolidated Accounts as at 31 December 2016 and the Group Management
Report 2016. These documents were prepared by management,
audited and given an unqualified audit certificate. The audit
reports were presented to the Supervisory Board. The auditors participated in the balance sheet meeting of the Supervisory Board on 03 April 2017 and reported on the findings of their
audits. The Supervisory Board has reviewed and discussed in
Düsseldorf Airport Annual Report 2016
detail the presented annual accounts, the management report
and the proposal for appropriation of year-end profits, the consolidated annual accounts and the group management report
2016 on the basis of the audit reports, the notes according to § 53
German Budgetary Principles Act and the respectively published Principles Governing the Auditing of Companies. The Supervisory Board does not have any objections to the above. The
Supervisory Board approves the Annual Accounts of management as at 31 December 2016 and the Consolidated Annual Accounts 2016, and has no objections to the results of the audits.
The Supervisory Board proposes that the Shareholders’ Meeting should:
• adopt the annual accounts as at 31.12.2016;
• endorse the consolidated annual accounts and the group
management report 2016;
• distribute to the shareholders the year-end profit in an amount
of 61,254,098.80 EUR for the business year 2016; and
• approve the acts of management for the business year 2016.
The office term of Mr Gerhard Schroeder as Chairman of the
Supervisory Board of Flughafen Düsseldorf GmbH expired as
scheduled on 15 January 2016. As a committed chairperson, Mr
Schroeder has made a significant contribution to the further development of Düsseldorf as an air traffic location. The signatory
to the present report was elected as the new Chairman of the Supervisory Board for the period from 16 January 2016 until 15 January 2018. Mr Schroeder was elected as the Deputy Chairman.
Dipl.-Ing. Rolf Bierhoff, Mr Michael Hanné and Mr Michal Upton retired from the Supervisory Board by way of resignation.
Dr Axel Epe, Mr Frank Krugmann and Mr Michael Röder were
appointed to the Supervisory Board as their successors. There
were no further changes to Supervisory Board man-dates beyond this during the business year 2016.
Dr Ludger Dohm retired as an executive director of Flughafen
Düsseldorf GmbH with effect form 30 June 2016. The Supervisory Board extends its gratitude to Dr Dohm for his efforts as
Speaker of Management and Labour Director. The Supervisory
Board appointed Mr Thomas Schnalke as Speaker of Management and Mr Michael Hanné as Managing Directors for a period
of five years with effect from 01 July 2016. Mr Hanné was also
appointed as Labour Director. Dr Martin Kirchner-Anzinger was
also appointed as Managing Director of the company for a period of five years with effect from 1 September 2016.
The Supervisory Board thanks Management and all employees
for their great commitment to the company and their outstanding performance during the business year 2016.
Düsseldorf, 03 April 2017
Flughafen Düsseldorf GmbH
The Supervisory Board
Thomas Geisel
(Chairman of the Supervisory Board)
33
34
2015
Düsseldorf Airport Annual Report 2016
DUS arrives in the “A 380 League”.
The biggest passenger plane
in the world flies from Dubai to
Düsseldorf twice a day.
35
Annual Accounts
as at 31 December 2016
Audit Certificate
37
Balance Sheet FDG 38
Profit-and-loss Account FDG
40
Consolidated Balance Sheet
41
Consolidated Profit-and-loss Account
43
Notes44
– General notes
44
– Group of consolidated companies
44
– Principles of consolidation,
accounting and valuation
– Notes to Consolidated Balance Sheet52
– Notes to Consolidated Proft- and -loss
54
Account
– Additional information
55
Group Management Report
36
58
Audit Certificate
We have audited the consolidated financial statements of Flughafen Düsseldorf
GmbH, Düsseldorf – consisting of the
consolidated balance sheet, consolidated profit-and-loss account, notes to the
consolidated financial statements, cash
flow statement and statement of changes
in equity – and the group management report for the business year from 1 January
until 31 December 2016. Preparation of
the consolidated financial statements and
the management report are in the responsibility of the legal representatives of the
Company, in correspondence with German commercial law. Our responsibility is
to express an opinion on the consolidated
financial statements and the group management report on the basis of our audit
We conducted our audit of the consolidated financial statements in accordance
with § 317 HGB and the generally accepted German standards for auditing of financial statements, as promulgated by the
German Institute of Auditors (IDW). These
standards required us to plan and carry out
our audit such that material misstatements
affecting the presentation of the net assets,
financial position and earnings situation in
the consolidated financial statements that
Düsseldorf Airport Annual Report 2016
were prepared in accordance with the German principles of proper accounting and in
the group management report are detected with a reasonable degree of assurance.
Knowledge of the business activities, the
economic and legal environment of the
group of companies and the expectation
of possible errors are taken into account
while determining the audit activities and
procedures. The effectiveness of the internal control system relating to accounting
and the evidence supporting disclosures
made in the accounting records, the consolidated financial statements and the
group management report are primarily
examined on a test basis within the framework of the audit. The audit comprised an
assessment of the accounting principles
used and significant estimates made by
the legal representatives of the group of
companies as well as acknowledgement
of the overall presentation of the consolidated financial statements and the group
management report. We believe that our
audit represents an adequately secure basis for our opinion.
the asset, financial and earnings situation
of the group of companies under observation of the principles of proper accounting.
The group management report is in line
with the consolidated financial statements,
provides an accurate overall picture of the
standing of the group of companies and
presents an accurate picture of the opportunities and risks to future developments.
Düsseldorf, 24 February 2017
Warth & Klein Grant Thornton
Auditing Company
Schulze Osthoff
Auditor Schreiner
Auditor
Our audit has not led to any reservations.
In our opinion that was based on knowledge gained during performance of our
audit, the consolidated financial statements of Flughafen Düsseldorf GmbH,
Düsseldorf for the financial year from 1
January 2016 until 31 December 2016
comply with the legal requirements and
convey a correspondingly true picture of
37
Balance Sheet
FDG as at 31.12.2016
Assets
EUR
31. 12. 2016
31. 12. 2015
EUR
EUR
A. Fixed Assets
I. Intangible assets
1. Concessions, industrial property rights aquired
for consideration and similar rights and values
as well as licenses to such rights and values
13,719,228.47
16,806,672.47
II. Tangible assets
1. Land, leasehold rights and buildings on
third-party land
a) Airport buildings, including land
483,012,501.51
507,255,022.51
b) Land with buildings
18,734,453.36
18,224,374.49
c) Land without buildings
13,565,009.98
13,770,056.94
d) Building leases
1,764,868.001,925,310.00
2. Plant and machinery
a) Airport facilities
95,907,691.00
92,789,806.00
b) Operating facilities
159,321,339.77
167,990,573.77
3. Other facilities, business and operating equipment
194,074,412.33
17,978,971.63
4. Payments on account and assets in course of construction
35,748,395.52
23,526,215.23
827,128,671.47
843,460,330.57
III. Financial assets
1. Shares in affiliated undertakings
22,260,080.10
2.
Investments
4,072,784.75
3.
Other loans
146,035.99
22,260,080.10
4,072,784.75
189,480.51
26,478,900.84
26,522,345.36
853,607,572.31
869,982,675.93
B. Current assets
I.Inventories
Raw materials and supplies
1,952,612.35
1,982,975.53
II. Accounts receivable and other assets
1. Trade accounts receivable
15,353,832.41
22,949,096.44
2. Due from affiliated undertakings
16,232,626.95
16,382,215.81
3. Due from companies with which the company
is linked by virtue of participating interests
4.
Other assets
1,039,475.79
2,366,304.55
1,903,993.02
3,871,760.98
34,529,928.17
45,569,377.78
III. Liquid funds
5,777,076.02
23,174,517.10
42,259,616.54
70,726,870.41
C. Prepayments and Accrued Income
1,441,785.52
1,725,904.82
38
911,028,202.84
959,242,123.63
Liabilities
EUR
31. 12. 2016
31. 12. 2015
EUR
EUR
A.Equity
I. Subscribed capital
25,564,594.06
25,564,594.06
II. Capital reserve
80,582,202.95
80,582,202.95
III. Revenue reserve (other revenue reserves)
1,230,210.15
1,230,210.15
IV. Net income for the year
61,254,098.80
55,028,168.70
168,631,105.96
162,405,175.86
B. Special Item for Tangible Asset Investment Subsidies
41,646,251.69
44,837,101.61
52,006,491.85
54,081,568.69
C. Special Item with Accrual Character
D. Accrued Liabilities
1. Provisions for pensions and similar obligations
5,218,460.00
2. Provisions for taxation
2,475,655.93
7,560,665.84
3. Other provisions
51,116,848.09
65,223,427.57
58,810,964.02
5,404,700.00
78,188,793.41
E.Liabilities
1. Due to banks
2. Accounts payable
3. Due to affiliated undertakings
4. Due to companies with which the company is linked by virtue of participating interests
5. Other liabilities
525,242,822.18
560,583,256.02
5,024,854.30
9,521,204.41
21,465,416.89
19,752,058.34
15,421,549.68
19,911,851.47
587,066,494.52
16,587,604.70
12,761,272.78
619,205,396.25
F. Deferred Income
2,866,894.80
524,087.81
Düsseldorf Airport Annual Report 2016
911,028,202.84
959,242,123.63
39
Profit-and-loss Account
FDG from 01.01.2016 until 31.12.2016
Profit-and-loss Account
01. 01. – 31. 12. 2016
01. 01. – 31. 12. 2015
EUR
EUR
421,022,207.08
404,641,527.55
1,966,686.64
1,824,045.09
9,398,814.62
12,317,662.97
a) Raw materials and supplies
30,049,790.40
31,000,472.56
b) Cost of purchased services
75,885,974.11
75,026,705.54
105,935,764.51
106,027,178.10
a) Wages and salaries
68,229,605.59
62,367,243.58
b) Social contributions and other pension costs
17,050,575.65
17,325,973.48
85,280,181.24
79,693,217.06
6. Depreciation on intangible fixed assets and tangible assets
62,636,374.83
61,618,288.46
72,897,403.29
69,384,084.39
1,288,229.86
3,698,549.42
9,474,191.41
9,620,409.47
3,498.72
4,413.07
249,500.09
407,788.26
11,820,009.59
13,774,221.38
5,349.36
0.00
15,065,391.61
19,210,818.25
26,958,779.72
24,989,136.95
62,803,874.27
57,817,451.24
1,549,775.47
2,789,282.54
61,254,098.80
55,028,168.70
1. Sales revenues
2. Capitalised cost of self-constructed assets
3. Other operating revenues
4. Cost of materials
5. Personnel expenses
7. Other operating expenses
8. Investment income
9. Income from profit-transfer agreements
10.Income from other securities and lending of financial assets
11. Other interest and similar income
12. Loss acceptance expenses
13. Depreciation on financial assets and short-term securities
14. Interest and similar expenses
15. Taxes on income
16. Earnings after taxes
17. Other taxes
18. Net income for the year
40
Consolidated Balance Sheet
as at 31.12.2016
Assets
EUR
31. 12. 2016
31. 12. 2015
EUR
EUR
A. Fixed Assets
I. Intangible assets
1. Concessions, industrial property rights acquired for consideration and similar rights and values as well as licenses to such rights and values
2.
Goodwill
3.
Advance payments
13,748,322.83
1,036,611.34
112,360.00
14,897,294.17
16,819,209.83
217,963.37
1,360.00
17,038,533.20
II. Tangible assets
1. Land, leasehold rights and buildings, including buildings on third-party land
574,974,622.13
603,061,665.22
271,529,780.77
278,364,753.77
2. Plant and machinery
3. Other facilities, business and operating equipment
25,924,586.05
24,632,936.35
4. Payments on account and assets in course of construction
36,123,904.69
23,633,643.64
908,552,893.64
929,692,998.98
III. Financial assets
1. Shares in joint ventures and affiliated undertakings
2.
Other loans
3,783,417.79
146,035.99
3,897,888.29
199,763.41
3,929,453.78
4,097,651.70
927,379,641.59
950,829,183.88
B. Current Assets
I.Inventories
Raw materials and supplies
2,876,992.60
4,709,538.45
II. Accounts receivable and other assets
1. Trade accounts receivable
2. Due from joint ventures and affiliated undertakings
3.
Other assets
19,327,107.21
27,311,113.74
1,039,475.79
2,366,304.55
2,139,791.12
22,506,374.12
5,131,563.21
34,808,981.50
III. Liquid funds
8,510,219.43
25,586,743.90
33,893,586.15
65,105,263.85
C. Prepayments and Accrued Income
1,472,890.99
1,754,724.26
24,476,850.25
26,244,013.05
D. Deferred Tax Assets
41
987,222,968.98
1,043,993,185.04
Liabilities
EUR
31. 12. 2016
31. 12. 2015
EUR
EUR
A.Equity
I. Subscribed capital
25,564,594.06
25,564,594.06
II. Capital reserve
80,582,202.95
80,582,202.95
III. Revenue reserve (other revenue reserves)
2,855,001.48
2,855,001.48
IV. Third-party equity shares
V. Consolidated balance sheet profit
175,692.52
175,692.52
48,224,564.71
42,439,298.81
157,402,055.72
151,616,789.82
B. Special Item for Tangible Asset Investment Subsidies
41,646,251.69
44,837,101.61
C. Accrued Liabilities
1. Provisions for pensions and similar obligations
2. Provisions for taxation
3. Other provisions
15,010,689.00
15,211,236.00
2,623,451.06
7,636,630.97
73,598,490.79
90,505,019.82
91,232,630.85
113,352,886.79
D.Liabilities
1. Due to banks
2. Accounts payable
3. Due to affiliated undertakings
4. Due to companies with which the company is linked
by virtue of participating interests
5. Other liabilities
552,514,494.88
588,874,519.37
81,070,149.67
85,848,411.28
6,486,731.84
10,135,595.59
15,421,549.68
21,307,644.67
676,800,570.74
16,587,604.70
13,818,484.03
715,264,614.97
E. Deferred Income
4,175,466.97
1,880,179.28
15,965,993.01
16,981,612.57
F. Deferred Tax Liabilities
42
987.222.968,98
1.043.933.185,04
Consolidated Profit-and-loss Account
from 01.01.2016 until 31.12.2016
Consolidated Profit-and-loss Account
01.01. – 31. 12. 2016
01. 01. – 31.12.2015
EUR
EUR
464,884,563.12
448,997,074.99
-1,793,361.24
0.00
1,966,686.64
1,824,045.09
8,960,313.37
15,329,460.66
a) Raw materials and supplies
25,754,287.09
30,089,272.16
b) Cost of purchased services
69,970,053.09
68,812,194.98
105,940,703.13
104,829,353.68
26,993,270.02
28,030,586.50
70,528,442.30
68,637,414.28
69,094,000.41
66,101,873.28
1,175,541.36
2,366,185.55
3,498.72
4,413.07
300,022.31
360,513.30
119,819.86
123,455.00
13. Interest and similar expenses
16,610,447.93
20,771,671.41
14. Taxes on income
28,334,737.41
24,609,119.80
2,224,291.15
3,160,923.73
59,927,211.89
53,715,827.84
43,325,521.52
33,403,965.43
55,028,168.70
44,680,494.46
48,224,564.71
42,439,298.81
0.00
0.00
48,224,564.71
42,439,298.81
1. Sales revenues
2. Increase/Decrease in land earmarked for sale
3. Capitalised cost of self-constructed assets
4. Other operating revenues
5. Cost of materials
6. Personnel expenses
a) Wages and salaries
b) Social contributions and other pension costs
7. Depreciation on intangible fixed assets and tangible assets
8. Other operating expenses
9. Income from application of equity method
10. Income from other securities and lending of financial assets
11. Other interest and similar income
12. Write-downs on financial assets
15. Other taxes
16. Profit for the year
– thereof relating to other shareholders: 0.00 EUR (2015: 0.00 EUR)
17. Profit carried forward
– thereof relating to other shareholders: 0.00 EUR (2015: 0.00 EUR)
18. Distribution of dividends
– thereof relating to other shareholders: 0.00 EUR (2015: 0.00 EUR)
19. Consolidated balance sheet profit, including share of other shareholders
20. Losses attributable to other shareholders
21. Consolidated balance sheet profit
Düsseldorf Airport Annual Report 2016
43
General Notes
Flughafen Düsseldorf GmbH, the parent
company of the Flughafen Düsseldorf
GmbH Group (FDG Group), is obliged to
prepare consolidated financial statements
according to §§ 290 ff. HGB.
The consolidated financial statements as
at 31 December 2016 were prepared in
accordance with the relevant provisions
under commercial law and the regulations governing accounting by limited liability companies (GmbHs). It comprises the
legal elements pursuant to § 297 Sect. 1
HGB (consolidated balance sheet, consolidated profit-and-loss account, consolidated cash flow statement, consolidated
statement of changes in equity and notes
to the consolidated financial statements).
Segment reporting was not noted. The
breakdown principles according to § 298
Sect. 1 in conjunction with §§ 266, 275 ff.
HGB were observed for the consolidated
balance sheet and the consolidated profitand-loss account. As in the previous year,
the total cost method was applied to the
profit-and-loss account. The breakdown
was expanded in line with § 275 Sect. 4
HGB in conjunction with § 158 AktG.
Name
Flughafen Düsseldorf GmbH
Flughafen Düsseldorf Ground Handling GmbH
Flughafen Düsseldorf Cargo GmbH
Flughafen Düsseldorf Immobilien GmbH
Flughafen Düsseldorf Verwaltungs GmbH*
Flughafen Düsseldorf Security GmbH
Flughafengesellschaft Mönchengladbach GmbH
Flughafen Mönchengladbach Grundstücksverwaltungsgesellschaft mbH**
Flughafen Düsseldorf Energie GmbH
ESTAMIN Grundstücksverwaltungsgesellschaft mbH & Co. Vermietungs KG***
Japon Grundstücksverwaltungsgesellschaft
mbH & Co. Vermietungs KG***
Registered
Equity Share %
Office
Düsseldorf
Parent Company
Düsseldorf
100
Düsseldorf
100
Düsseldorf
100
Düsseldorf
100
Düsseldorf
100
Mönchengladbach
70,03
Mönchengladbach
Düsseldorf
70,03
100
Mainz
100
Mainz
100
* merged into Flughafen Düsseldorf Immobilien GmbH
** held via Flughafengesellschaft Mönchengladbach GmbH
*** special purpose vehicle according to § 290 Sect. 2 No. 4 HGB
The consolidated balance sheet date is the
balance sheet date of the parent company.
All subsidiaries, joint undertakings and associated undertakings prepare their financial statements on the basis of this balance
sheet date.
Companies included in the consolidated
financial statements by way of the socalled equity method as well as those companies obliged to provide this information
pursuant to § 313 Sect. 2 No. 2 and 3 HGB
can be presented as follows:
44
Name
Registered Subsribed Share % Office
BISAWA Objekte Airport-
Pullach
100
Düsseldorf GmbH & Co. KG
SITA Airport IT GmbH
Düsseldorf
30
Flughafen Düsseldorf
Düsseldorf
40
Tanklager GmbH
Notes
Joint
undertaking
Associated
undertaking
Associated
undertaking
Notes
Consolidation,
Accounting and
Valuation Principles
Consolidation Principles
In addition to observing the provisions of
HGB, consolidation also generally gives
consideration to German Accounting Standards (DRS) by the German Accounting
Standards Committee.
Preparation of full consolidation
The annual accounts of the parent company and its subsidiary companies are included in the consolidated financial statements on the basis of uniform accounting,
valuation and presentation methods according to group accounting guidelines.
Whenever the individual financial statements of subsidiaries are not already in line
with the accounting, valuation and presentation methods of the parent company and/
or whenever the accounting, valuation and
presentation methods in the consolidated
financial statements differ from those applied to the individual financial statements
of the parent company, the required standardisations are carried out by preparing
so-called Commercial Balance Sheets II.
A conversion of currencies pursuant to
§ 308a HGB is not required since the consolidated financial statements only encompass resident (German) companies.
Full consolidation
Full consolidation measures consist of the
following:
- Capital consolidation;
- Debt consolidation; and
- Consolidation of expenses and income
Deferred taxes are also given consideration as required for consolidation.
If at all necessary, the elimination of intercompany profits is dispensed with pursuant to § 304 Sect. 2 HGB owing to their
minor significance.
Capital is consolidated for all subsidiaries according to the revaluation method.
First-time consolidation is carried out in
this context on the basis of the respective
date of purchase, whereby assets, debts
and prepaid expenses are valued at time
of purchase at current fair value, provisions according to § 253 Sect. 1 Sentence
2 and 3, Sect. 2, and deferred taxes are established according to the balance sheetoriented concept (subsequently as required during transition to BilMoG) pursuant
to § 274 Sect. 2 HGB. A positive differential amount remaining as a result of capital consolidation is shown as goodwill. Negative differential amounts have not been
noted to date. Uncovered hidden reserves
and charges are developed further during
subsequent consolidation of capital and
goodwill is written off.
Deferred taxes are formed for consolidation measures according to the so-called
balance sheet-oriented concept and pursuant to § 306 HGB. Deferred taxes must
also be given consideration during capital
consolidation, with the exception of differential amounts remaining from offsetting
of capital. A possible so-called surplus of
assets resulting from the formation of deferred taxes on consolidation measures is
recognized in full.
Deferred taxes resulting from consolidation measures are recorded in the consolidated financial statements in full and
aggregated together with deferred taxes
not relating to consolidation pursuant to
§ 274 HGB.
Accounts receivable, provisions and liabilities as well as other contractual obligations between companies included in the
consolidated financial statements are eliminated in connection with debt consolidation pursuant to § 303 HGB.
Income and expenses noted between companies included in the consolidated financial statements – particularly those resulting from intergroup deliveries and services provided – are eliminated in connection with consolidation of expenses and
income.
Düsseldorf Airport Annual Report 2016
45
Accounting and valuation
principles
General notes
The accounting, valuation and disclosure methods applied to the consolidated
financial statements are generally in line
with the methods applied by the parent
company in its individual financial statements. Variances are described in the following.
Pertaining to deferred taxes at a level of
the parent company and subsidiary companies respectively at a commercial balance sheet II level, the options pursuant to §§
298, 274 HGB are exercised in the consolidated financial statements in such a way
that a so-called surplus of assets possibly resulting from determination of deferred
taxes is capitalised and an unbalanced
reporting (gross reporting form) of deferred tax assets and liabilities is recognised.
At a level of the single company financial
statements of the parent company, however, the recognition of a possibly existing
surplus of assets is dispensed with and
deferred taxes and liabilities are offset (net
reporting form).
Variances noted between commercial balance sheet and tax balance sheet valuations are valued on the basis of the tax rate
applicable to the individual group at the
time the respective variance is reduced.
Discounting is not applied in such cases.
The present rates currently used by the individual company are applied alternatively
to such procedures whenever future tax rates have not been adequately specified yet.
Deferred taxes noted up to a Commercial
Balance Sheet II level are aggregated and
recognised with deferred taxes on consolidation measures (not offset). Deviations
in the exercise of optional rights regarding
deferred taxes are generally treated in analogy to non-consolidation-based deferred
taxes up to a commercial balance sheet II
level owing to the deviating exercise of the
option relating to deferred taxes.
The option pursuant to Article 28 Sentence
2 EGHGB regarding the recognition of provisions for so-called indirect pension obligations and similar obligations is exercised in the single company accounts of
the parent company by not making provisions for such obligations. The consolidated financial statements of the FDG Group
give consideration to indirect pension obligations and similar obligations by applying a so-called intermediate amount - i.e.
only a partial amount and not the full obligation sum is provided for. Allocation of a
corresponding partial amount was carried
out for the first time during the business
year 2008. Further allocations of partial
amounts are only carried out whenever
the obligations associated with the partial amount are no longer applicable. The
overall (loss) amount for indirect pension
obligations and similar obligations is not
disclosed since all of the associated obligations cannot be accurately and sufficiently quantified. These obligations relate
to vested company pension rights held
by certain group members in Rheinische
Zusatzversorgungskasse (RZVK). A considerable number of group members is
entitled to this supplementary pension
arrangement.
The single company financial statements
of the parent company and also those of
the subsidiaries concerned contained
special items with equity portions as special items of deferred income, especially
in the case of recognition of reinvestment
provisions in the tax balance sheet. This
procedure was carried out until the socalled BilMoG transition came into force
46
Notes
First-time application of
Balance Sheet Guideline
Implementation Act (BiRUG)
and was in line with the so-called principle of reversed decisiveness in addition
to being in accordance with the corresponding tax regulations. The respective
option right to continue this special item
was exercised during transition to BilMoG.
Special items with equity portion have not
been recognised in the consolidated financial statements since then.
At a level of those companies which are
included in the group of companies, the
accounting and valuation methods are
based on the assumption of a “going concern” pursuant to § 252 Sect. 1 No. 2 HGB.
The option to capitalise internally produced intangible assets (development expenses) has not yet been pertinent to the
FDG Group. Such assets are correspondingly not recognised in the consolidated
balance sheet.
The FDG Group has also formed corresponding valuation units at a balance sheet
level in cases where variable interest loans
are presently hedged against the interest
rate risk in connection with the risk management system of the group of companies. Current interest swaps and forward
interest swaps relating to so-called micro hedges are pooled correspondingly
with the secured loan tranche at valuation
units. The so-called net hedge presentation method is then applied to the accounting treatment. Possible negative market
values are covered by way of provisions
for contingent losses.
Amended commercial code requirements
lead to changes for presentation of the
consolidated profit-and-loss account due
to implementation of the Balance Sheet
Guideline Implementation Act (BilRUG).
In contrast to the previous business year,
the positions in the consolidated profitand-loss account were adjusted to meet
the breakdown requirements pursuant to
HGB and according to BilRUG
Amounts from the previous year were allocated to the original expense and revenue
items in cases where the modified requirements of HGB led to an elimination of positions in the consolidated profit-and-loss
account. Last year’s figures had to be adjusted in this respect. More detailed information on the respective changes can be
taken from the notes to the consolidated
profit-and-loss account.
Certain items in the consolidated profitand-loss account can only be compared
with their counterparts in 2015 to a limited degree due to the changed BilRUG
definition. More detailed information on
the respective changes that were made
for reasons of comparison can be taken
from the notes to the consolidated profitand-loss account.
The timing requirements for preparation
and audit of the consolidated financial
statements necessitate a so-called Fast
Close Procedure. Particularly revenues and expenses noted in December are
correspondingly partly based on planning
data estimates and previous experience.
Düsseldorf Airport Annual Report 2016
47
Intangible assets and
tangible assets
Intangible assets purchased against payment are capitalised at cost of acquisition
and written off according to their service
lives under application of the linear method of depreciation whenever they are
subject to wear and tear.
Tangible assets are shown at cost of acquisition respectively cost of manufacture minus scheduled linear depreciation in case
of wear and tear. Only buildings that were
added between 1993 and 1995 are written
off according to the specifications of § 7
Sect. 5 Income Tax Law. Pro rata personnel and materials expenses for own employees who are responsible for the planning, execution and monitoring of projects
relating to the production of an asset are
capitalised as internally produced assets.
Flughafen Düsseldorf Immobilien GmbH
during the business year under review. The
useful lives for goodwill resulting from the
consolidation of FD Cargo GmbH were
determined under consideration of the
circumstances that the key sales and procurement markets of FD Cargo GmbH are
only subject to slight changes, that there
is a high level of customer loyalty on the
sales side, and that there are certain market-entry barriers. The useful life was determined as 20 years. Goodwill noted after 31 December 2015 are written off over
a period of 10 years, according to § 253,
Sect. 3 S. 3 and 4 HGB.
Financial assets
Raw materials and supplies are valued at
average cost price giving consideration to
the lowest-value principle.
Accounts receivable and other assets are
shown at nominal value. Risks relating to
accounts receivable and other assets have
been given consideration by adequate individual and lump-sum value adjustments.
Liquid funds consist of cash in hand and
bank balances and are shown at nominal
value.
Prepaid expenses and deferred
income
Whenever an asset is acquired or manufactured, interest on borrowed capital is
capitalised during the manufacture respectively the purchase period (construction period interest) whenever there is a
direct relationship between the asset itself and the respectively borrowed capital.
Shares in joint undertakings and associated companies are accounted for using
the equity method (cf. above).
Other loans refer to loans from employer
to employees and are recognised at nominal value.
On the assets side, prepayments and accrued income consist of expenditures prior to the balance sheet date those which
will continue to be expenses for a certain
time hereafter. The liabilities side shows
revenues prior to the balance sheet date,
those which will continue to be revenues
for a certain time hereafter.
Useful lives are estimated on the basis of
the airport-specific Useful Life Table published by Arbeitsgemeinschaft der deutschen Verkehrsflughäfen, ADV.
Depreciation pursuant to § 253 Sect. 3
Sentence 3 HGB is only applied in case
of permanent impairment.
Accrued liabilities
Depreciation at the relevant lower reportable value is only applied in case of permanent impairment.
As in prior years, low-value items with original costs of up to 410 EUR have been
completely written off in the year of acquisition since 2010 (assumed disposal).
Goodwill is only noted in the consolidated financial statements in connection
with the consolidation of the subsidiary
FD Cargo GmbH and the merger of Flughafen Düsseldorf Verwaltungs GmbH into
48
Current assets
Provisions are made for identifiable risks,
contingent obligations, contingent losses
on pending transactions and deferred
maintenance which is caught up within
a period of 3 months after the end of the
respective financial year. Provisions for
anticipated losses and the above-mentioned deferred maintenance measures
were neither used to the current balance
sheet date nor to that of the previous year.
Valuation was carried out on the basis of
Notes
Liabilities
the amount required according to prudent
commercial judgement. Future price and
cost increases are also taken into consideration in this process whenever these have
been adequately specified and objectified
to the balance sheet date. Provisions with
residual terms of more than one year are
discounted correspondingly over their residual terms on the basis of the average
interest rates specified by Deutsche Bundesbank for the past seven years.
The referenced interest rate is 3.23%,
projected to the balance sheet date
31.12.2016. The corresponding differential amount from the differently determined interest rates amounted to 516k EUR
in 2016. This amount is included in the financial result
Liabilities are shown at repayment amount.
Actuarial calculations are generally based
on the following:
- the projected unit credit method (PUC Provisions for pensions and similar obliga- method) as the actuarial procedure res-
tions (assistance payments), early retire- pectively the net present value method ment obligations, anniversary obligations for calculation of early retirement obli-
and continued pay in case of death were gations;
shown on the basis of values that were de- - the Reference Tables RT 2005 G from termined by the actuarial expert.
Heubeck Richttafeln GmbH for biomet-
ric calculations;
The discounting of provisions for pensi- - a qualifying trend of 2%;
ons and similar obligations (assistance - a pension progression trend of 2%;
payments) was based on the interest rate - The price respectively cost increase applied to a residual term of 15 years, in trend of 2% in case of assistance and, correspondence with § 253 Sect. 2 Sen- if applicable, in case of anniversary
tence 2 HGB.
bonuses;
- Age-dependent fluctuation assump-
The interest rate for discounting of provi- tions where appropriate, particularly in sions for pensions was determined in ac- case of anniversary bonuses and conti-
cordance with § 253 Sect. 2 Sentence 2 nued pay in case of death.
in conjunction with Sect. 6 HGB. This was
done on the basis of the average interest When dealing with early retirement oblirate for the past 10 years with a lump-sum
gations that are exclusively subject of the
assumption for a remaining maturity of 15 “block model”, the so-called topping-up
years. This interest rate is 4.01%, projec- amount is set aside as soon as the early
ted to the balance sheet date 31.12.2016. retirement agreement has been signed,
Last year, the average interest rate for the
and the pro-rated shortfall in contributions
past 7 years was applied on the basis of
that increases during the working phase is
a remaining maturity of 15 years whereby accumulated in the provision.
an interest rate of 3.89% was applied here
in accordance with § 253 Sect. 2 HGB To the extent that price/cost increases ari(older version).
se in connection with other provisions, these were included in calculation at an interest rate of 2% - 3% p.a.
Düsseldorf Airport Annual Report 2016
49
Schedule of Consolidated Fixed Asset Movements
for the Business Year f rom 1 January 2016 until 31
Cost of Purchase and Manufacture Carried forward to
Transfers due to
Adjusted and
01.01.2016
changes in
carried forward at
cons. companies
EUR
Additions during
Disposals
Status on
business year
Write-ups
Transfers
31.12.2016
01.01.2016
EUR EUREUR
EUR EUREUREUR
I. Intangible assets
1.Concessions, industrial commercial property
rights and similar rights and values, as well as
licenses thereto
2.
Goodwill
68,918,010.96
0.00
930,199.80
68,918,010.96
474,963.10
0.00
464,794.21
1,933,200.57
67,924,567.70
0.00
930,199.800.00
0.00 0.000.00
930,199.80
3.Payments on account
1,360.00
0.00
1,360.00
111,000.00
0.00
0.00
0.00
112,360.00
Total intangible assets
69,849,570.76
0.00
69,849,570.76
585,963.10
0.00
464,794.21
1,933,200.57
68,967,127.50
II. Tangible assets
1.Land and leasehold rights and buildings,
including buildings on third-party land
2.Plant and machinery 3.Other fixtures and fittings,
tools and equipment
1,144,874,062.53
5,766,358.40
1,150,640,420.93
4,658,035.39
0.00
-1,758,340.63
945,171.16
1,146,828,586.13
844,159,399.96
0.00
844,159,399.96
11,351,099.13
0.00
6,519,695.79
-938,910.55
862,969,105.43
118,247,055.41
0.00
118,247,055.41
6,677,928.20
1,501.00
1,539,452.51
2,893,040.48
123,572,896.64
23,633,643.25
0.00
23,633,643.25
19,626,154.72
0.00
-6,765,601.88
370,291.79
36,123,904.30
2,130,914,161.15
5,766,358.40
2,136,680,519.55
42,313,217.44
1,501.00
-464,794.21
3,269,592.88
2,169,494,492.50
4.Payments on account and tangible assets
in course of construction
Total tangible assets
III.Financial assets
1.Shares in affiliated companies
2.Associated undertakings
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
4,017,486.29
4,017,486.29
0.00 4,017,486.29
0.00
0.00
0.00
0.00
3.Investments
24,975.00
0.00 24,975.00
0.00
0.00
0.00
0.00
24,975.00
4.Other loans
199.823,34
0.00
199,823.34
0.00
0.00
0.00
53,727.42
146,095.92
4,242,284.63
0.00
4,242,284.63
0.00
0.00
0.00
53,727.42
4,188,557.21
Total financial assets
Total fixed assets 50
2,205,006,016.54
5,766,358.40 2,210,772,374.94
42,899,180.54
1,501.00
0.00
5,256,520.87
2,242,650,177.21
Notes
Accumulated Depreciation
Disposals
Status on
Status on
Status on
01.01.2016
31.12.2016
31.12.2016
31.12.2015
carried forward to
Additions
Write-ups
Transfers
EUR EUR
EUR
EUR
EUR
52,098,801.13
Book Values
3,834,657.77
0.00
5,039.54
1,762,253.57
EUR
54,176,244.87
EUREUR
13,748,322.83
16,819,209.83
712,236.43
81,352.03
0.00
-900,000.00
0.00
-106,411.54
1,036,611.34
217,963.37
0.00
0.00
0.00
0.00
0.00
0.00
112,360.00
1,360.00
52,811,037.56
3,916,009.80
0.00
-894,960.46
1,762,253.57
54,069,833.33
14,897,294.17
17,038,533.20
541,812,397.31
30,595,826.04
0.00
0.00
554,259.35
571,853,964.00
574,974,622.13
603,061,665.22
565,794,646.19
28,552,830.87
0.00
-5,211.26
2,902,941.14
591,439,324.66
271,529,780.77
278,364,753.77
93,614,119.06
6,844,769.59
0.00
171.72
2,810,749.78
97,648,310.59
25,924,586.05
24,632,936.35
-0.39
0.00
0.00
0.00
0.00
-0.39
36,123,904.69
23,633,643.64
1,201,221,162.17
65,993,426.50
0.00
-5,039.54
6,267,950.27
1,260,941,598.86
908,552,893.64
929,692,998.98
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
144,573.00
144,768.90
0.00
-30,298.40
0.00
259,043.50
3,758,442.79
3,872,913.29
0.00
0.00
0.00
0.00
0.00
0.00
24,975.00
24,975.00
59.93
0.00
0.00
0.00
0.00
59.93
146,035.99
199,763.41
0.00
259,103.43
3,929,453.78
4,097,651.70
8,030,203.84
1,315,270,535.62
927,379,641.59
950,829,183.88
144,632.93
144,768.90
0.00
-30,298.40
1,254,176,832.66
70,054,205.20
0.00
-930,298.40
Düsseldorf Airport Annual Report 2016
51
Notes to the Consolidated
Balance Sheet
Accounts receivable and
other assets
Consolidated balance sheet profit
The development of fixed assets during
the financial year 2016 and its breakdown
can be taken from the attached Schedule
of Fixed Asset Movements.
The consolidated balance sheet profit is
completely available for distribution to the
shareholders of the parent company. The
distribution potential of the parent company exceeds the consolidated net earnings
of the parent company.
Current assets
31.12.2016
31.12.2015
EUR k
EUR k
19,327
27,311
Trade accounts
receivable Fixed assets
An amount of 2.009m EUR of current assets refers to raw materials and supplies
while an amount of 868k EUR pertains
to land in Airport City that is earmarked
for sale.
- of which with
residual terms
< 1 year
19,327
27,311
Deferred income
Due from joint
and affiliated
undertakings
1,039
2,366
< 1 year
1,039
2,366
Other assets
2,140
5,132
2,140
4,911
- of which with
residual terms
- of which with
The biggest item in this balance sheet item
refers to costs incurred for a promissory
note loan in an amount of 404k EUR. This
position additionally shows deferrable insurance costs in an amount of 512k EUR.
Subscribed capital
residual terms
< 1 year
- of which with
residual terms
> 1 year
0
221
The fully paid-up share capital of the Company has remained unchanged at 50m
DM in comparison to the previous year.
The state capital Düsseldorf and Airport
Partners GmbH, Düsseldorf each held
half of the share capital as of the balance
sheet date.
Capital reserve
The capital reserve has not changed.
Revenue reserves
Revenue reserves have not change in
comparison with 2015.
52
Adjustment item for minority
interests
The adjustment item minority interests
refers to shares held by co-shareholders
in Flughafengesell¬schaft Mönchengladbach GmbH.
Special item for tangible asset
investment subsidies
In past years, Flughafen Düsseldorf GmbH
received investment grants (state subsidies to improve the traffic situation in
communities) for construction of a people
mover system between the new IC railway
station and the new terminal building. Income from the release of this item amounted to 3.141m EUR during the business
year under review.
This item also includes EU grants for construction and equipment of the check-in hall
at the IC railway station. An amount of 50k
EUR was released from this item during
the business year under review.
Notes
Accrued liabilities
Liabilities
This item includes the provision for noise protection measures. This provision
serves to cover potential reimbursement
claims for noise protection measures carried out by owners of homes and supporters of facilities requiring special protection within a specified noise protection
area at the airport. It additionally considers
a provision for expected refund claims due
to compensation for limited used of outdoor living areas in accordance with the
requirements of the operating permit for
Düsseldorf Airport 21 September 2000.
The following list shows the breakdown of
liabilities and their maturities:
The provision for noise protection measures amounted to a sum of approximately
7.492m EUR as at the balance sheet date.
The FDG Group established a provision in
an amount of 5.146m EUR in 2010 to cover the risk of ground water contamination
with perfluorinated tensides (PFT) on the
airport grounds and the resulting redevelopment obligations. Taking into account
amounts spent in the meantime and discounting, this provision is presently noted
at an amount of 3.038m EUR.
31. 12. 2016 ResidualResidualResidual
31. 12. 2015
term termterm
< 1 year 1-5 years > 5 years EUR k
EUR k
EUR k
EUR k
EUR k
Due to banks
Real-estate-financing
liabilities Trade debtors
Due to joint and
associated undertakings associated undertakings
– thereof relating to
other loans – thereof relating to taxes
– thereof relating to
social security 552,514
54,702
315,364
182,448
588,875
676,801 99,991335,351241,458 715,265
81,070 4,41217,64859,010 85,848
6,487
6,48700
10,136
15,422
21,308
15,422
18,969
0
0
16,588
2,339
0
13,818
73
2,230
73
2,230
0
0
0
0
74
3,190
0
0
0
0
0
Provisions include an amount of approximately 9.0m EUR for indirect pension obligations and similar obligations.
Other provisions refer to outstanding invoices (6.123m EUR), airline promotion
measures relating to the schedule of charges of the airport (19.093m EUR), provisions for the personnel sector (including
early retirement and anniversary bonuses)
(25.422m EUR) and other provisions for
measures such as the audit of the yearend financial statements.
The following collaterals were furnished
for amounts due to banks and property
financing:
Secured by mortgages
Secured by negative pledge
31. 12. 2016 31. 12. 2015
EUR k
EUR k
122,339
114,140
511,241
560,583
633,580
674,723
Recognition of liabilities with maturities
up to one year includes deferred interest
payments and the contractually agreed
repayment of long- and short-term loans.
Düsseldorf Airport Annual Report 2016
53
Liabilities relating to the
financing of real estate
ESTAMIN concluded a receivables purchase agreement with Bayerische Landesbank, Munich and Stadtsparkasse Düsseldorf in order to finance the purchase price
for the real properties Car Parks P3 and P4
as well as the hotel on Car Park 3. In accordance with this agreement, the banks will
acquire on a pro rata basis all claims relating to tenant’s loans and the ESTAMIN
leasing contracts which are noted completely across all group companies with a
term ending 2029. An initial fixed interest
period for these agreements ends on 31
January 2013, after which correspondingly
adjusted leasing rates will have to be paid.
Among others, the banks have been granted collaterals for the loan sums by way of
land charges on the respective fractional
building lease plots.
Japon concluded a receivables purchase
agreement with Deutsche Postbank AG,
Bonn to finance the purchase price for
Car Park P8 (underground garage). Japon
accordingly sold to Deutsche Post AG the
overall claim resulting from the leasing rates according to leasing agreement that relates completely to other group companies.
The loan term ends on 30 September 2030.
An initial period of interest rate fixation for
these agreements ends on 30 September
2020, after which correspondingly adjusted leasing rates will have to be paid.
Among others, a land charge was registered on the leasing object in favour of the
bank, whereby the amount was equivalent
to the loan sum.
Deferred income
Other operating revenues
Among others, deferred income on the liabilities side includes a rent subsidy paid
in advance for a new rental contract that
was concluded for a 7-year term (originally
2.5m EUR).
Other operating revenues are reported
with a figure of 8.960m EUR and demonstrate a considerable decrease in comparison with 2015 (15.329m EUR). Other operating revenues include revenues from the
release of other provisions (1.356m EUR)
and special items for subsidies in a total
amount of 3.191m EUR.
Notes to the Consolidated
Profit-and-loss Account
Sales revenues
Passenger numbers at Düsseldorf Airport
increased by 4.7% to 23,521,769 passengers in comparison with the previous
business year. The total number of aircraft
movements was reported with a figure of
217,574 take-offs and landings which represented a 3.5% increase on prior year.
Sales revenues amounted to a sum of
464,885m EUR, thus representing an increase of 15.887m EUR respectively 3.5%
on prior year.
Aviation revenues were reported with
a figure of 280.6m EUR (previous year:
274.9m EUR) and increased accordingly
by 2.1% on prior year. This positive development was mainly driven by the reported
increase in passenger numbers.
The non-aviation (commercial) sector reported total revenues in an amount of
172.2 EUR (previous year: 174.2m EUR)
which represented a decrease of 1.1% in
comparison with 2015. This position essentially includes revenues from rental and
the leasing of food and beverage (F&B) and
retailing units, utility (energy) revenues, revenues from management of advertising
space and revenues from rental of parking
space by FDG.
During redefinition of sales revenues according to BilRUG in 2016, sales revenues were recognised in 2016 under sales
revenues that had been allocated to other
operating revenues with an amount of
3.082m EUR in 2015. Sales revenues in a
total amount of 467.967m EUR would have
been noted for the business year 2015 under application of the former definition of
sales revenues according to BilRUG.
54
The P&L item “extraordinary revenues”
was eliminated in 2015 due to implementation of BilRUG. Revenue received in 2015
from the release of a fire claim provision
(1.598m EUR) were consequently adjusted
and allocated to other operating revenues in connection with the new breakdown
scheme for the profit-and-loss account.
Other operating revenues included revenues an amount of 3.082m EUR in 2015.
These had to be transferred to sales revenues in 2016 due to the changed definition of sales revenues according to BilRUG.
Reduction of land that is planned
to be sold
The accounting of land recognised under inventories and intended for sale was
changed in 2016 so that a reduction in
these inventory items had to be recognised separately (“Reduction in land intended to be sold”). In 2015, expenses relating to such reductions in land inventories
were recognised under the cost of materials “-a) expenses for purchased services
(land)”. Expenses in an amount of 2.454m
EUR were noted for a reduction in inventories in 2015.
Notes
Cost of materials
Other operating expenses
Additional Information
The cost of materials amounted to a sum
of 105.734m EUR in 2016, so that this position has increased by 6.833m EUR on
previous year.
Among others, this position includes PR
expenses, individual write-downs on receivables, DP costs, legal and professional
expenses, expenses for insurance premiums as well as security services.
Breakdown of staff numbers
The cost of materials basically refers to the
cost of materials, energy and maintenance
costs, the land rent, certain rent and leasing expenses as well as other third-party
services.
Expenses in an amount of 500k EUR (previous year: 454k EUR) for services relating
to the generation of these sales revenues
were allocated to the cost of materials in
2016 within the scope of redefinition of sales revenues according to BilRUG. These
expenses were allocated to other operating expenses in 2015.
Personnel expenses
Personnel expenses (consisting of wages
and salaries as well as social contributions,
pension costs and assistance) decreased
by 74k EUR to a total sum of 132.934m
EUR in 2016.
The P&L item “extraordinary expenses”
was eliminated in 2015 due to implementation of BilRUG. Amounts recognised in
2015 under extraordinary expenses were
then allocated to the original P&L positions in 2016. Personnel expenses noted
in 2015 had to be adjusted in 2016 and
increased by an amount of approximately
4.5m EUR since the respective expenses
in 2015 were expenses that pertained to
personnel measures
Depreciation
The reported depreciation sum includes an
amount of 81k EUR representing the amortisation of goodwill. Depreciation was also
noted during the business year under review for extraordinary depreciation of technical plant and machinery (2.207m EUR).
Düsseldorf Airport Annual Report 2016
The average number of employees can be
broken down as follows:
Income from application of the
equity method
2016 2015
Clerks2,134
2,240
Apprentices71
74
Total2,205
2,314
This income completely refers to BISAWA
Objekte Airport-Düsseldorf GmbH & Co.
KG, Düsseldorf and represents the commercial-law-based allocation of dividends
for 2016 (BISAWA) and 2015 (SITA)..
BISAWA Objekte Airport-Düsseldorf
GmbH & Co. KG and Laroba GmbH & Co.
Kommandit¬gesellschaft have no employees.
Interest expenses
Contingent liabilities
Interest payments in an amount of 16.610m
EUR (previous year: 20.772m EUR) mainly
refer to long- term financing.
The compounding of provisions produces interest expenditures in an amount of
1.072m EUR (previous year: 1.423m EUR).
Flughafen Düsseldorf GmbH has entered
into the following rent guarantees on behalf of BISAWA Objekte Airport-Düsseldorf GmbH & Co. KG:
BISAWA Objekte Airport-Düsseldorf
GmbH & Co. KG noted interest expenses
in an amount of 30k EUR for the business
year under review (previous year: 53k EUR).
Minimum
Duration
Net Annual rent
until
EUR k
FDG Maintenance
Hangar 8
1,280 October 2018
Air-freight building October 2018
and Car Rental Centre 6,900resp. May 2019
Taxes and income-tax splitting
Taxes on income give consideration to a
balanced expense amount of 562k EUR
for deferred taxes. Other taxes mainly refer to real estate tax.
It is highly improbable that these obligations will have to be carried out under consideration of the economic circumstances
of BISAWA.
Off-balance-sheet transactions
and other financial obligations
The Company has entered into several
leasing agreements for real estate and
movable assets in order to improve liquidity and financial performance. Movable
assets refer regularly to assets that have
to be replaced on a regular basis, such
as motor vehicles and office equipment.
Whenever leasing agreements relate to socalled sale-and-lease-back transactions,
they normally also serve to obtain funds
for certain new investments.
55
Flughafen Düsseldorf GmbH leases Car
Park 5 from Filana Grundstücksvermietungs-Gesellschaft mbH & Co. KG. The
parking garage was completed in 2006.
Flughafen Düsseldorf GmbH was involved
in the purchase of this land as a mediator.
The future leasing rates will amount to a
total sum of 14.463m EUR until 2029, according to current information. The leasing
rates could change upon expiration of the
first tied interest term as a result of the adjustment of refinancing. Flughafen Düsseldorf GmbH has the option to purchase all
limited partner’s shares in Filana as well as
all shares in the general partner GmbH at
the end of the basic rent term. Managing
the parking facilities will present the company with opportunities during the lease
period. The company collected revenue
in an amount of 17k EUR from this sector
in 2016. Management of the car park was
taken over by SAIT (“Parking Bird”) in April 2015. This transaction generated revenue in an amount of 4.691m EUR in 2016.
The company BISAWA Objekte AirportDüsseldorf GmbH & Co. KG was established in 2008. Flughafen Düsseldorf GmbH
is the limited partner and BISAWA Beteiligungs GmbH, Pullach (formerly Munich) is
the general partner. A total of four building
leases were sold to the company, some
of which included buildings. This transaction refers to partial building leases at
the airport: the DACC freight centre, Hangar 8, the car rental centre and Hangar 7.
The purchase price was 110.102m EUR
and the gain on disposal was 35.861m
EUR. The gain on disposal was completely allocated to a special item with accrual
character. A total loan sum in an amount
of approximately 150.0m EUR was borrowed by BISAWA from a consortium of
banks to finance the purchase prices for
the 4 partial building leases and the ensuing construction measures. Flughafen
Düsseldorf GmbH cannot fall short of an
equity quota of 15% in its single company
accounts throughout the entire loan period. The banks also have a right to terminate the loan agreement if the economic
circumstances change for the worst. This
is assumed the case, for instance, whenever the overall volume of rent revenues
56
falls short of an annual sum of 13.0m EUR.
Flughafen Düsseldorf GmbH has also issued rent guarantees in this respect (cf. above). FDG will have the option to purchase
all shares in the general partner GmbH at
the end of the calendar year 2034. In its
function as the property-managing company, BISAWA does not have to pay any
trade taxes in this respect, in accordance
with the provisions of § 9 No. 1 Sentence
2 GewStG. Flughafen Düsseldorf GmbH
had to furnish an overall limited liability
capital sum of 1.5m EUR. In addition to
the risk of losing its capital contribution,
the airport’s risk is seen in the rent guarantee and possibly also the loss of remuneration for services provided for BISAWA.
FDG’s opportunities are considered the
collection of profit shares and the collection of revenues for diverse services provided for BISAWA. The profit share received by FDG during the business year 2016
was 999k EUR while Flughafen Düsseldorf
GmbH collected revenues from the provision of services (before service costs) in an
amount of 1.531 m EUR during the business year under review.
Following resolution adopted by the Supervisory Board and the Shareholders’
Meeting on 13 September 2012, Flughafen Düsseldorf GmbH decided to build a
new administration building via a real estate leasing company and then to rent this
building from the new company. The land
on which the new administration building
was to be built was sold by the property
subsidiary Flughafen Düsseldorf Immobilien GmbH to the future lessor, LAROBA GmbH & Co. Kommanditgesellschaft
(“LAROBA”) at the end of 2012. Flughafen
Düsseldorf Immobilien GmbH is the limited partner of LAROBA.
Flughafen Düsseldorf GmbH now rents
the complete building for an initial period
of 15 years. The rent term can, however,
be prolonged and FDG can also indirectly
purchase the building by buying the shares
in Laroba. The rent obligations amounted
to a sum of 46.511m EUR as at the balance sheet date.
The FDG Group has also entered into a
building lease agreement (Düsseldorf International Airport is basically operated
on building-lease land) as well as diverse tenancy and maintenance/service agreements.
The building lease for the airport grounds
was concluded on 1 January 1998 and will
expire in 2017. The annual land rent is presently 10.295m EUR.
In addition to the above-mentioned offbalance-sheet risks, the FDG Group notes other financial obligations in a total
amount of 1.661m EUR. These obligations mainly refer to leasing rates not only
for moveable assets but also for maintenance/service and rent. The Company also
notes order commitments in an amount of
49.1m EUR for orders placed as at the balance sheet date.
Valuation units
Flughafen Düsseldorf secures itself
against the risk of higher interest rates
for variable interest loans denominated in
EUR by employing interest swaps and forward interest swaps. Reference is made in
this context to our notes regarding the formation and accounting of valuation units.
Variable interest on underlying business is
regularly EURIBOR-based.
Collaterals refer to partial tranches of a
consortium loan in an amount of 1.05bn
EUR that was taken out in 1998 after the
fire at the airport in 1996 and a promissory note loan in an amount of 198m EUR
that was taken out in 2014. The balance
amount of the consortium loan (129.527m
EUR) and the promissory note loan (20.0m
EUR) is included in valuation units. A bilateral loan that was taken out with KfW Ipex
GmbH in 2013 (50.0m EUR) is also included in valuation units.
So-called micro hedges represent valuation units – i.e. every secured partial tranche
is fully and individually secured, either over
the entire remaining term or only part of
this term. This procedure is fully effec-
Notes
Auditing and consulting fees
tive. Follow-up collaterals (forward interest swaps) are also available, if required.
The cash flow change risk is also secured
with regard to basic transactions. Pertaining to basic business, there are no other
risks than an increase in interest rates. The
hedging transactions produces negative
market values in an amount of 14.905m
EUR) (2015: 17.272m EUR), those which
are not shown in the balance sheet in connection with the formation of valuation
units. The effectiveness of collaterals is
determined under application of the socalled critical terms match method. Provisions for impending losses were set up
for ineffective valuation units due to differences in the critical terms.
Current collaterals are applicable at least
until the third quarter of 2019 and until
2024 at the latest. Hedging secures synthetic, fixed-interest loans at interest rates
between 1.032% and 2.863% plus the respectively applicable credit margin.
Deferred Taxes
Deferred taxes were determined on the
basis of a uniform Group-wide tax rate
of 30.7% since all companies included
in the consolidated financial statements
are resident (German) companies.
Material differences between commercial and tax balance sheet valuations
pertain to:
- Pension and benefit obligations; defer red tax assets;
- Other provisions, particularly early re-
tirement obligations, costs of litigation and anniversary bonuses; deferred tax assets;
- Neutralisation of additional purchase price relating to group-internal sale
by the special purpose entities
ESTAMIN and Japon; deferred tax
assets (18.225m EUR);
- Special item with equity portion;
deferred tax liabilities
Audit fees were noted in an amount of
117k EUR for the business year 2016 and
pertain to the audit of the consolidated
financial statements, the single company accounts of the parent company, the
subsidiary companies and a joint undertaking. The (group-wide) fee for other advisory services amounted to a sum of 7k
EUR in 2016.
Supplementary report
Material events that could be significant
for the Company without having been
mentioned in the consolidated annual accounts were not noted after the balance
sheet date.
Düsseldorf, 22 February 2017
Total emoluments of management, former management members and the supervisory board
The total emoluments of management
amounted to a sum of 2,733,197.81 EUR
in 2016. This amount gives consideration
to a severance payment in an amount of
1.5m EUR.
Flughafen Düsseldorf GmbH
Thomas Schnalke
Martin Kirchner-Anzinger
Michael Hanné
An amount of 286,478.80 EUR was paid to
former members of the Board of Management and their surviving dependents. The
respectively formed pension provisions
are shown at an amount of 3,080,474.00
EUR as at 31 December 2016.
The Supervisory Board received emoluments in a total amount of 58,342.13 EUR
in 2016, including attendance fees.
Notes on the cash flow statement
Financial funds basically consist of cash
and cash equivalents (cash and sight deposits due on a daily basis) as well as cash
and cash equivalents (short-term, extremely liquid financial investments that are
only subject to minor value fluctuations)
within the group of companies. Bank liabilities due on demand are not included in
financial funds. There were no cash equivalents as at the current balance sheet
dates in 2015 and 2016, thus also meaning
financial funds.
Dividends were not paid out to minority
shareholders.
There are no losses carried forward.
Düsseldorf Airport Annual Report 2016
57
Development of Business and
General Conditions
General macroeconomic
conditions
Business activities
Flughafen Düsseldorf GmbH (“FDG”) develops and operates Düsseldorf Airport.
The subsidiary companies are also included in operation of the airport. Only the
subsidiary Flughafengesellschaft Mönchengladbach GmbH runs its business
outside Düsseldorf. The operation of air
transport services is not part of the business activities of FDG. This is done by the
airlines.
Modern airports are a lot more than simply
traffic interchanges respectively the beginning or the end of a journey these days.
They also present themselves as a world of
experience and a service centre, in addition to being an ideal location for the retail
and catering trades. It is in this spirit that
FDG sees its business activity.
During the business year under review, the
airport paved the way for a successful airport management and a market-oriented
development in the future.
In addition to the business division Operations that is responsible for handling flight
operations and the business division Real
Estate that is responsible for technical
operation of infrastructure at the airport,
the division Aviation Management & Corporate Development were implemented in
2016. These new divisions focus on strategic and operational marketing management whereby the objective is to further
develop an attractive portfolio of routes
and airlines services. The business division Non-aviation was further developed on
the basis of a B2C and B2B differentiated
focus on the new business areas Customer Management, Property Management
and Airport Media.
The airport is also active via its business
sector Aviation in the provision of infrastructures and the handling of airport operations. In the business sector Non-aviation, FDG is active in management of foodand-beverage (F&B), retailing and advertising space, management of parking space
58
and rental of commercially used areas
(hangars, office space etc.). The airport frequently cooperates in this sector with partner companies on a regular
basis. Passenger and baggage-handling activities are carried out by the subsidiary company Flughafen Düsseldorf
Ground Handling GmbH while the cargo sector is covered by the subsidiary
Flughafen Düsseldorf Cargo GmbH.
The subsidiary Flughafen Düsseldorf
Security GmbH is responsible for the
provision of diverse security services.
Flughafen Düsseldorf Immobilien
GmbH is responsible for marketing
the land in Airport City while Flughafen
Düsseldorf Energie GmbH secures the
purchase of electricity and processing
of electricity into useful energy (heating and cooling) in addition to operating two combined heating and power
stations. Flughafen Düsseldorf Tanklager GmbH introduced its commercial
activities following official registration
in the commercial register on 6 January 2014.
Düsseldorf Airport and the region are
located in the middle of Europe and in
the industrial heart of Germany from a
geographical perspective. Practically
all European centres can be reached
from here within one and a half hours
of flight time. Approximately 18 million
people live within a radius of 100 kilometres in the catchment area of Düsseldorf Airport. The settlement of the
Rhine-Ruhr Region can be compared
with the metropolitan regions London
and Paris in Europe and it is also the
third strongest economic area in Europe. If nothing else, this special location represents the basis for the business success of Düsseldorf International Airport and its future development.
The international economic environment at
the turn of the year 2016/2017 is characterised by a large number of uncertainties.
In 2016, the global economy continued its
moderate development and the dynamism
of international trade was significantly overshadowed. However, the situation
has stabilised again in several emerging
large countries. The Chinese economy is
still losing momentum. A “hard landing” is
considered unlikely, at least for the time
being. Economic momentum tends to
be rather dampened in the industrialised
countries. However, new risks - such as
the consequences of the Brexit, or the
presidential elections in the USA - slowed
down global investment activities in 2016,
so that the economic prospects for 2017
are also strained. Overall, the business
year 2016 is expected to be closed with
an economic performance growth rate of
3%. The expansion rate will probably only
be slightly higher in 2017 with a figure of
roughly 3.25%.
This higher global insecurity will represent
a burden on global investments, including
export prospects and the propensity of the
German economy to invest. In Germany,
employment is expected to increase by 1%
to about 43.9 million in 2017, and the number of unemployed persons will probably
decrease to almost 2.7 million persons.
The unemployment rate will be around
6% on average in 2017. The government
will continue to register slight surpluses
in 2017, mainly due to the continued low
interest environment. However, these are
at risk because of the high dynamics of
spending and economic vulnerability. Public budgets can count on surpluses in 2016
and 2017, owing to buoyant tax revenues.
The costs for the reception of refugees can
be managed on this basis. However, social expenditures entail considerable dynamics that could represent a risk to these
surpluses, despite the noted positive overall economic situation.
Group Management Report
Development of traffic at DUS
(January – October 2016)
Development of passenger numbers in brief
Passengers
Jan. to Sept. 2016
Jan. to Oct. 2016
Destination area
Germany
DUS DUS
Domestic 3.4%
2.0%1.7%
Europe
4.0%
4.1%4.7%
Outside of Europe
-1.4%
0.5%
0.9%
of which long-haul
11.2%
11.9%
Total
2.9%3.2%
Movements2.3%
2.3%2.5%
* Source: ADV
Development of traffic
at a national level
(January - September)
Traffic developed positively at a national
level between January and September
2016. The following notes can be made in
respect of the general development of air
traffic in Germany during the period under review:
Terror attacks in traditional tourist destinations in the Eastern Mediterranean and
North Africa have increasingly made the
travel market insecure. This led to a conservative behaviour while booking flights,
particularly to Egypt, Tunisia and Turkey.
This is mainly the reason why the demand
for optional destinations in the Western
Mediterranean has increased strongly, so
that all destinations in the Southern Mediterranean (the Balearic Islands, the Canary Islands, Portugal, Italy and Malta)
reported considerable growth during the
period under review. Holiday flights were
also increasingly booked to national destinations and other destinations in neighbouring countries owing to a lack of bedding capacities in these areas. This automatically triggered a migration to ground
transportation. The demand for flights to
destinations outside of Europe was also
quite high during the reporting period:
Thailand, the Maldives, Mexico and diverse islands in the Caribbean reported above-average increase rates because of the
above-described situations.
Domestic air traffic noted basic effects in
comparison with 2015, among others due
Düsseldorf Airport Annual Report 2016
to weather conditions, strikes etc. However, a considerable number of flight services/destinations were also either newly introduced or increased with regard
to strong national destinations (among
others by Ryanair: CGN-BER and Transavia: MUC-BER).
In European traffic, a considerable shift
was noted from destinations in Turkey to
destinations in the Western Mediterranean. Particularly tourist destinations in
Spain, Greece, Italy and Portugal reported
considerable growth. As in the past, particular mention is made here of strong decreases in the demand for flights to Russia
due to political sanctions.
Flight services to destinations outside of
Europe lost some of their momentum during the period under review. The strongest markets in the Far East (India, China
and Japan) lost many passengers. The
demand by tourists from Asia for flights to
Germany and tours of Europe has apparently decreased for security reasons. This
was the main reason why traffic to/from
North and Central America was the main
growth driver along with the Caribbean Islands. The United Arab Emirates attracted
transfer traffic to the Far East with slightly
reduced dynamics. It is noteworthy that
Singapore had to accept losses because
of the expansion of the Middle East hub.
Traffic to Africa lessened due to the referenced terror attacks. In the initial phase,
traffic to Egypt and Tunisia slowed down,
after which the demand for flights to destinations in Morocco diminished.
The total number of passengers at Düsseldorf increased by +698,000 between January and October 2016. This figure was
a lot higher than in 2015, and the number
of movements started to increase again
starting in May. Düsseldorf Airport consequently registered a Passenger/Flight
ratio of 115.1 (+1.2 PAX) that was also
higher than that noted in 2015. Increased
frequencies respectively new flight services and a stable range of intercontinental flight services helped to generate the
noted increase in passenger numbers at
DUS. However, this growth was also negatively impacted by flight cancellations
due to weather conditions and strikes (approximately 500 movements and roughly
50,000 passengers).
Many airlines continued to use bigger aircraft in recent months so that the performance indicators Seats/Flight (157.0; +4.0
seats) and MTOW/Flight (73.7 t; +1.9t) demonstrated correspondingly higher values.
Last year’s comparative result for transfer passengers was surpassed by 0.6 percentage points with a transfer passenger
share of 10.2% (1,030,783; +96,681 passengers). This result corresponds to an increase in transfer passenger numbers by
10.4% on prior year.
The noted 1.7% increase in domestic traffic was mainly produced by an increase in
passenger numbers to Hamburg, Berlin
and Munich. Air Berlin made a significant
contribution to this development, mainly in
connection with increased frequencies to
diverse destinations on the one hand and
increased feeder traffic for intercontinental
flight services at DUS on the other hand.
With regard to European traffic, Spain, Italy and Portugal demonstrated extremely
positive developments during the period
under review while traffic to Turkey declined (-15.0%). Particularly traffic to touristic destination airports lost passengers. Istanbul reported higher results than in 2015,
mainly due to increasing transfer passen59
ger numbers at Turkish Airlines in direction
Far East. However, the referenced decreases were also noted on this route and were
unable to compensate the loss of passengers in the touristic sector. Particular mention is also made here of the decrease in
flights to Russia (- 73,000; - 14.8 %). Flight
schedule services offered during the period under review were strengthened by the
introduction of several new destinations
(among others Air Berlin, Eurowings, Condor, BMI Regional and Croatia Airlines) on
the one hand and increased frequencies
by Air Berlin, Eurowings, LOT, TUIFly and
Sun Express on the other hand. The Wings
Group was the main growth driver in the
development of European traffic since this
group reported an overall increase in passenger numbers by approximately 350,000
in total respectively +9.0% during the period under review.
The performance of DUS was considerably higher than the national trend when
speaking of traffic to Asia and America.
The airport registered an increase in passenger numbers (+11.9%) during the reporting period.
Flight services to the USA (+6.5%) were
strengthened by new connections offered
by Air Berlin to Boston and San Francisco.
Flight services to the Caribbean were characterised by increased frequencies offered by Air Berlin, so that passenger numbers mainly increased to the Dominican
Republic and Cuba. The new connection
to Havana by Air Berlin was the key growth
driver in this sector.
With approximately 101,000 more passengers, passenger numbers to Asia continued to develop quite positively and increased by +10.4% in comparison with 2015.
The Gulf carrier Emirates (both daily flight
connections with an Airbus A380) and Etihad to Dubai respectively Abu Dhabi in addition to Cathay Pacific to Hong Kong and
recently Singapore Airlines to Singapore
reported increasing passenger numbers
during the period under review.
60
Flight services to Africa were dramatically
tination traffic
(-101,000 passengers;
reduced (-35.7%) during the period under -4.9%). Not only the Lufthansa subsidiary
review. This development continued to
Eurowings (approximately 140,000 more
be strengthened by terror attacks (Tunis, business travellers than in 2015) but also
Djerba, Sharm El-Sheikh) so that flights Air Berlin (+97,000 passengers) and Emirato North Africa continued to be negative
tes (+30,000 passengers) noted conside(-192,000; -38.3%).
rable growth in the ‘classic’ business travel sector during the period under review.
The Air Berlin Group reported increases,
not only with regard to movements (+9.3%; However, the overall number of private travellers decreased by 254,000 passengers
+4,260) but also pertaining to passengers
(+4.9%; +301,000) and continued to main- during the reporting period. The strongest
tain its position as the top carrier at DUS. decrease in this sector was noted for peoThe performance indicator PAX/Flight de- ple visiting relatives/friends in non-transfer traffic (-325,000; -12.4%). Turkey was
creased accordingly from 134 to 129 while
the biggest loser in this sector (-120,000;
the capacity utilisation factor increased
slightly from 77.8% to 78.3%. Air Berlin in- -18.5%). Non-transfer tourist flights only
decreased slightly (-38,000; -0.6%).
troduced several new destinations at the
beginning of May, not only in the conti- nental but also in the intercontinental sec- About 748,000 people from the Netherlands departed from Düsseldorf Airport
tor so that the number of frequencies has
increased considerably. The total number during the first three quarters of 2016.
of seats offered increased by 4.3% under This was roughly 97,000 more passenconsideration of a reduced average aircraft gers than in 2015, which corresponds to
size (-4.5% seats per flight). The main re- a 14.9% increase. The percentage share of
ason for this development is seen in the
Dutch in the overall passenger number has
increased employment of Dash 8-400 air- consequently increased by 0.6% points to
craft with only 76 seats.
4.4%. This growth was mainly produced
by an increase in tourist traffic (+137,000;
The Lufthansa/Wings Group continued to +45.2%). Flights to Spain (+77,000), the
consolidate at DUS and reported a decrea- USA (+35,000) and China (+18,000) have
particularly increased here.
se of roughly 300 movements (-0.5%) while
the total number of passengers increased An analysis of the distribution of deparby 5.2% (+226,250). The performance in- ting passengers to ground transportation
dicator PAX/Flight increased accordingly shows that the share of people who took
from 90 to 95 under consideration of a a train increased by 1.5% points, i.e. from
decrease in utilisation of capacities from 20.7% to 22.3% in comparison with 2015.
65.5% to 62.8%. Particular mention is This figure corresponds to an absolute inmade here of the rollout of Airbus A320 at crease of 123,000 people who took a train.
DUS (which will successively replace the
Canadairs owned by Eurowings) and the The share of cars decreased by 1.2%
associated increase in seating capacities. points (from 54.0% to 52.9%) during the
period under review. In absolute figures,
the number of passengers who drove or
Düsseldorf Airport registered a 2.2% point
were driven to the airport decreased by
higher share of business travellers (32.2%)
60,000. The number of long-term parkers
during the first three quarters of 2016
(car parked at the airport during the entiin comparison with the first half of 2015
(30.0%). The share of private travellers de- re trip) increased by approximately 32,000
creased accordingly from 70.0% to 67.8%. users respectively 2.9%. The demand for
short-term parking space decreased by
The strong increase noted for “classic” 23,000 respectively -7.3% during the period under review. The number of passenbusiness travellers (+437,000; +9.4%) was
mainly produced by the non-transfer traf- gers who were driven to the airport without
fic sector (+530,000; +22.5%). This growth
parking the car decreased during the pewas slightly reduced by a decrease in des- riod under review (-69,000 drivers; -2.5%).
Group Management Report
Slot Coordination Winter
2016/2017
As at 16.11.2016, the number of slots that
were coordinated for the winter flight schedule period 2016/2017 was 77,639. This
figure was 5,853 respectively 8.2% higher
than that noted for the comparative 2015
period and has once again approached
the 2011 level.
Among others, the main reasons for this
are the continuation of the expanded Air
Berlin hub at Düsseldorf Airport with an increase in long-haul routes (among others
to Cancun, Fort Myers, New York [JFK], Varadero) and first-time service during a winter season of Havana, Santo Domingo and
Los Angeles. Particular reference is also
made here to a continuation of the European feeder network that was introduced
during the summer 2016 and the introduction of up to three daily flights to Geneva.
Ukraine Intl. Airlines has also introduced
five weekly flights to Kiev, and the Russian
airline S7 flies to Moscow (DME) every day.
The winter season 2016/2017 also represented the first time that Singapore Airlines was coordinated to operate three
weekly flights to Singapore.
Strategic Orientation
The key strategic reorientation measures
mainly relate to the areas Customer Management and Airport Media and can be
summarised as follows:
Customer Management
The main objective of the newly implemented business division Customer Management is the strategic development and
implementation of a consistent customer
journey on the basis of focus on customers and service, in addition to the optimisation of revenues. The analogue and
digital worlds are merging. These changes require new and innovative business
and cooperation models, marketing and
sales strategies (implementation of Digital Commerce Development). The development and implementation of new
Düsseldorf Airport Annual Report 2016
product worlds and services are new and
challenging, not only with the respective
on-airport partners, but also with off-airport partners in order to generate additional revenues from shared customers. The
mind-set of customers represents the focus of product development and the related activities, thus comprising all areas in
this business unit (retailing, F&B, duty-free,
mobility and parking space, travel, digital
and live marketing etc.).
located in the piers, covering an area of
roughly 9,850 square metres.
The airport was once again able to increase its revenues in the passenger parking
sector. This positive development was particularly driven by an almost 100% utilisation of parking facilities at the airport during
the summer months. The number of reservations additionally demonstrated continued growth and topped the past record
of more than 220,000 parking procedures
during 2016. Innovation workshops with
This orientation and development are
based on the so-called “Digital Strategy noted German automobile manufacturers
and suppliers were also conducted in this
2020”.
context. Services and products such as
Other important projects consisted of the “Connected Mirror” and “Automated Parsuccessful conclusion of contracts rela- king” are future-oriented in this context.
ting to the big F&B and Book&Press tenders covering an area of more than 2,500 Several events were additionally carried
square metres. New strategic customers, out in 2016 in order to further establish
Düsseldorf Airport as an event location.
such as the international group WHSmith
from the UK, were also able to be won These events have meanwhile become
in this process. This is the first time that an integral component in the Airport as a
WHSmith has entered the German market. World of Experience – and that has been
The new F&B contract made allowance for so for more than seven years now. Roughthe appearance at Düsseldorf Airport of in- ly 200,000 grown-ups and children attenternational and national top concepts such ded the airport’s Experience Sundays last
as Jamie Oliver’s Deli, das Hausmann’s, year. The terminal is turned into a very speEPI and KFC’s first appearance on the Ger- cial world of experience every first Sunday of a month. The associated concepts
man market with a new design. A modern
conference centre concept was additio- were modified in a consistent way by esnally developed with co-working spaces, tablishing new and smaller event formats,
think tanks, online booking and state-of- some of which were for the first time linked
the-art payment tools. The relaunch is al- with an entrance fee. Several events even
stretched over several weekends and turready under way, and will go into operation
in May 2017. The airport has consequently ned out to be quite successful. The event
implemented a further new omni-channel “Open Air Cinema” is an outstanding example of the airport’s event concept. This
product for its customers. The brand
event took place on the airport terrace in
July 2016. It was fully booked out as a reDUSconference plus
sult of its having been marketed in an outwww.dusconference.com
standing way. The skating rink was also
very successful in December. Last year’s
was created specifically for this purpose
strategy of focussing even more on the
and is owned by Düsseldorf Airport.
diverse target groups was carried out in a
consistent and very successful way.
Düsseldorf Airport presently has 79 retail
stores (including duty-free) and 42 restaurants, bars and cafés. Approximately
8,500 square metres of this space are located in the public sector (shopping mall,
departure and arrival levels). The biggest
area, which can only be accessed by passengers, includes the duty-free sector, is
61
Airport Media
The new business division Airport Media
focuses on the B2B area and is still responsible for marketing the already established advertising on the communication
platform DUS Airport and the development of new media and marketing approaches. This concept is based on the
three key pillars “Sales”, “Communication”
and “Media”.
The issue of “Digitalisation of Advertising
Media”, the trend from 2015, was continued in the media sector during 2016, particularly with regard to the sector “Digitalout-of-Home” (DOOH).
The expansion of the produce group DUS
AD BOARD has been in place at the airport
since May 2016. This system consists of
two big, 25 square metre large media walls
and was one of the biggest digital indoor
screen areas at a German airport in 2016.
Up to 1.3 million passengers frequent the
departures hall every month during peak
times and see the advertising messages
in this roughly four by seven metres large advertising space. Rheinische Sparkassen- und Giroverband, the hard- and
software group Microsoft, or even the
fast food chain McDonald’s are only a few
customers who realised the considerable potential of this concept from the very
beginning and who have placed bookings
regularly in this sector.
Further DUS AD BOARDs are located in
gate areas A and B. The advertising area at
the central exit from Gate B was enlarged
in 2016 due to the high booking situation
and the general trend towards digital media. A new location was also introduced in
Pier A in 2016.
A new two-year cooperation was also introduced with Ströer Digital Media in the
online advertising media sector. This step
serves to link online and offline media with
each other.
With regard to the traditional media, Airport Media continued to pursue its strategy of standardisation and quality assu-
62
rance of existing formats in 2016. New,
sensible and strategically relevant locations were developed for the advertising
format Colorama 4/1 during the business
year under review. New LED modules in slides and mega posters replaced obsolete
technologies and made allowance for an
optimised illumination of these areas, in
addition to improving the aspect of energy efficiency.
The outdoor advertising contract with
Wall GmbH was prolonged. It represents
an important element with regard to marketing cooperation. The airport was also
able to expand its marketing cooperation
with Cittadino GmbH, which is meanwhile
a member of the Tank & Rast Group. This
cooperation relates to digital waiting area
media. Mönchengladbach Airport was
expanded as a new event location for the
automotive industry in 2016. In addition to
carrying out press driving events at Düsseldorf, BMW branches in NRW invited
customers of the BMW M-Series to an exclusive test drive on the runway system in
Mönchengladbach.
Airport Media also cooperated with the
agency Kinetic - a noted media specialist in the OOH market and documented
in an additional advertising impact study
that advertising at Düsseldorf Airport has
a lasting effect.
The range of services offered by Airport
Media was expanded in October 2016. Not
only media can be booked with Airport Media, but also the production and assembly
of advertising materials. These services
increase even more the attractiveness of
Düsseldorf Airport as an advertising location for agencies and direct customers.
The business division Airport Media is also
responsible for part of strategic cooperation. The airport’s partnership with Digitale
Wirtschaft NRW (DWNRW) is noteworthy
in this context, particularly since the initiative DigiHub Düsseldorf emerged from this.
Among others, this partnership is a measure designed to implement successfully
the Digital Strategy 2020 at Düsseldorf
Airport. A further element towards implementing this strategy was the introduction
of the Start-up Award “DUS Highflyer” in
April 2016. During this event, almost 100
start-ups from Germany presented their
innovative products and services around
the platform Airport.
The overall performance of Airport Media
was slightly above budget in 2016, so that
the airport’s tactics from 2015 - to compensate lost advertising budgets - were
very successful as a whole.
The Content Management System will
have to be modified for all digital media
in 2017 in order to be able to accommodate programmatic advertising in a more
targeted way.
Another key issue for 2017 will be the expansion of the existing marketing cooperation in the DOOH media sector. Traditional advertising space will be digitalised
on the one hand, and other areas that have
not yet been equipped with digital media
will also be incorporated into the moving
image concept on the other hand. The advertising media DUS AD GATE will also be
established as a standard media whenever
new gate areas are built. The appearance
of Gate sector C will additionally be redesigned in 2017 to make it more attractive.
The business division Airport Media will
mainly focus on a successful marketing
of the important contact points along the
Customer Journey 2017, in addition to
concentrating on cooperation, an expansion of product portfolios, innovative marketing concepts and the implementation of
new technologies at the advertising location Düsseldorf Airport.
Further-reaching structural changes, such
as the introduction of the business areas
Aviation Management & Corporate Communication and the division Property Management, will display their impact in 2017.
Group Management Report
Development of business areas
operated by subsidiaries and
affiliated undertakings
Flughafen Düsseldorf Ground Handling
GmbH (FDGHG) reported a year-end loss
of 9.3m EUR for the business year 2016.
Flughafen Düsseldorf GmbH will absorb
this loss sum on the basis of the present
domination and profit-transfer agreement.
The termination of further handling agreements by TUIfly, Rossya, LOT and British
Airways with effect from November 2016,
Delta Airlines and Emirates have seriously
affected FDGHG’s business volume medium- to long-term, particularly with regard
to aircraft and baggage handling. The corresponding market share has consequently decreased from 85% in 2007 to presently 6% in 2016.
Management of FDGHG had already developed a long-term strategic restructuring concept for the company at the beginning of 2012.
were signed in 2016 in connection with the
referenced restructuring modalities.
The total number of employees decreased
by 61 in comparison with 31 December
2015. The company noted 612 employees
on average in 2016 in comparison with 650
employees in 2015. It can be summarised
that the financial situation of the company is considered stable on the basis of the
present asset, financial and earnings situation and its membership in the Flughafen
Düsseldorf GmbH Group. However, the
company will continue to be structurally
unprofitable until the restructuring concept has been fully implemented.
The earnings situation of the company is
expected to improve in 2017, so that it
could generate an operating result of approximately -2.510m EUR in 2017. However, this projection is still fraught with
uncertainties due to the on-going restructuring activities.
tonnage volumes noted in 2015 did not
continue into the business year under review. However, the cargo company was still
able to top the 100,000 tonne mark again
and reported a positive year-end result
again, mainly due to cost savings, so that
it consequently generated a year-end profit of 1.1m EUR for 2016.
The subsidiary Flughafen Düsseldorf Security GmbH (FDSG) completed the business year 2016 with a positive result. The
overall economic and financial standing of
the company is stable due to the overall
economic situation in connection with the
positive development of traffic at Düsseldorf Airport. FDSG mainly generates sales revenues with companies respectively
business divisions within the FDG Group.
On the whole, sales revenues amounted to
a sum of 26.246m EUR in 2016, which was
15.6% higher than in 2015. This positive
development was mainly driven by sales
to group companies due to an increased
demand for security services and the requirement of price adjustments produced
by increases in standard pay and benefits.
Revenues from services provided for third
parties have also increased during the
business year under review.
The corresponding implementation measures were then introduced during the
summer 2013, continued in 2014 and The total number of movements carried
2015 as well as into the business year out at Mönchengladbach Airport decreunder review. The implementation of the
ased by 2,705 movements respectively
company agreement to make working -6.9% in comparison with the previous year
hours more flexible was also introduced and was reported with an overall figure
in connection with new rosters starting of 36,706 movements in 2016. The total
in April 2014.
number of commercial training flights was
21,866 in 2016, so that this result has also The company employed 207 people as at
Approximately 74 employees have left the
decreased by 3,253 movements (-13.0%). 31 December 2016 (previous year: 202).
company since the beginning of 2016 in
Flight movements in the non-commer- FDSG took over several people from
connection with measures designed to
cial sector increased by 1,026 (+15.1%)
FDGHG in connection with the aboveadjust staffing capacities.
to 7,820 flight movements in comparison
mentioned restructuring measures. This
with 2015.
has led to the correspondingly noted inThe greatest challenge to implementaticrease in payroll expenses, in addition to
on of the above measures are seen in the The restructuring measures carried out in
the increase in standard pay and benefits.
absenteeism quotas, some of which have
the years between 2010 and 2012 confluctuated considerably and even reached
tinued to show their impact during the The company reported a year-end proa temporary figure of more than 30% in
business year under review. The loss sum
fit of 489k EUR for 2016 (previous year:
individual cases. This situation is mainly absorbed by FDG in connection with the -888k EUR). The profit sum was absorbed
produced by the average age of emplo- present domination and profit-transfer ag- by Flughafen Düsseldorf GmbH in conyees (52 years) on the one hand and the
reement amounted to a total sum of 2.5m
nection with the present domination and
fact that almost 20% of these employees
EUR for 2016.
profit-transfer agreement.
have a documented and reported degree
Flughafen Düsseldorf Cargo GmbH The real property subsidiary Flughafen
of disability on the other hand. The average
Düsseldorf Immobilien GmbH (FDI) was
absenteeism quota was 13.2% in 2016. (FDCG) closed the business year 2016
with a tonnage volume of approximately able to sell two additional plots of land in
This figure was above last year’s result of
12.1%. Further early retirement contracts 106,487 tonnes, so that the increase in Airport City during the business year under
Düsseldorf Airport Annual Report 2016
63
Emission/Noise protection
review. Building Lot 20, with its minimum
gross floor area of 14,500 m², was sold
to Düsseldorf Liegenschaftsgesellschaft
mbH, Munich. Building Lot 23 (minimum
gross floor area 6,500 m²) was sold to Dragon Bauprojekt GmbH, Düsseldorf. The
proceeds from the sale of land amounted
to a total sum of 10.5m EUR (previous year
10.7m EUR). Rent revenues amounted to
a sum of 3.0m EUR (2015: 2.9m EUR) and
basically relate to the internal rental of
an underground garage. As planned, the
company reported overall sales in a total
amount of 3.0m EUR (2015: 2.9m EUR) for
the business year under review. Sales revenues amounted to a total sum of 14.3m
EUR (2015: 14.0m EUR) for the business
year 2016. The company reported a yearend profit of 8.037m EUR for 2016 before
transfer of profits.
Flughafen Düsseldorf Energie GmbH
(FDE) provides Düsseldorf Airport with
energy and partly also generates useful
energies (heating and cooling), in addition to operating the required energy-generating plants and network infrastructure.
The Düsseldorf Airport Group purchases
most of its electricity requirements from
FDE. The volume of electricity purchased
and consequently also the use of materials purchased in this context was once
again reduced following commissioning
of a second combined power and heating
station in 2015. The company reported a
year-end profit of 0.9m EUR for the business year 2016.
Flughafen Düsseldorf Tanklager GmbH
(FDTG) was established in December
2013 jointly with partners from the mineral oil industry and airlines (joint venture).
The partners in this independent company will supply aircraft with fuel in future.
FDG is only a minority shareholder (40%).
The company reported a year-end loss of
415k EUR for the business year under review. This amount mainly relates to financing costs.
BISAWA Objekte Airport-Düsseldorf
GmbH & Co. KG (BISAWA), a joint undertaking with LHI Leasing GmbH, Pull-
64
ach continued to develop quite positively
during the business year 2016 with the
properties Hangar 8, the freight centre
DUS-ACC as well as the new maintenance
Hangar 7 and the car rental centre. The
company reported a year-end profit under
commercial law in an amount of 997k EUR
for the financial year 2016.
Non-financial
Performance Indicators
The TVöD-F Collective Wage Agreement
for civil servants at airports is applicable
to all employees of Flughafen Düsseldorf
GmbH who are bound by collective bargaining agreements. A non-tariff pay system that is coupled with a target-setting
system and variable pay components is
applied to executives up to the middle
management level. A performance-based
payment pursuant to § 18 TVöD-F was
made to eligible employees in addition to
their standard pay
Düsseldorf International has been carrying out an extensive noise protection programme in its neighbourhood since 2003.
Since the beginning of the present noise
protection programme, the airport and
the airlines have invested a total sum of
approximately 70.9m EUR for noise protection measures such as the installation
of noise-insulating windows and balcony
doors, as well as low-noise ventilation systems in bedrooms.
Total amounts spent in 2016 for compensation of restricted use of outdoor areas
have practically remained unchanged at
an amount of approximately 7.0m EUR in
comparison with 2015 - particularly since
only a few applications still have to be processed. The amount still expected to be
spent for outdoor compensation measures
was 1.452m EUR as at 31.12.2016. Roughly 6 employees are assigned to handle the
airport’s noise protection programme.
The airport maintains a flight noise measuring system consisting of 13 stationary and
The Flughafen Düsseldorf GmbH Group
two portable measuring devices, in addinoted the following staffing figures as at
tion to a measuring vehicle. Following a
31.12.2016 (without managing directors): request from the city of Meerbusch and
local residents, the airport installed an
31. 12. 2015 31. 12. 2016 additional portable measuring point at an
Clerks2,240
2,134 optional measuring point in Lank-Latum in
Apprentices74
71 April 2014. The new measuring station is a
Total2,314
2,205
lot closer to the ideal line of the northern
departure routes. All measuring results
are published in connection with monthly
The average age of employees of Flugha- Measuring Result Reports. An additional
fen Düsseldorf GmbH (including appren- measuring location was tested following a
tices) was 44.30 years as at 31 December proposal by the City of Meerbusch due to
2016. This age structure is mainly charac- considerable background noise. The staterised by the fact that most employees
tionary measuring point was moved at the
are located in the upper age group: 13% beginning of 2016.
of all employees are aged between 41 and
45 while 18% are between 46 and 50 ye- The volume of flight noise was additionally
ars old and 18% of all employees are aged
measured over several months in Essenbetween 51 and 55 years. The average age
Kettwig, below the base approach lane on
has increased slightly on prior year (ave- Runway North. A comparison with measurage age: 44.18 years). The overall fluctu- rements taken in 2009 shows that noise leation rate was 1.48% for the business year vels have not changed in this area.
2016 (2015: 0.71%), which is higher than
in 2015..
Group Management Report
The airport additionally operates on a voluntary basis air quality measuring devices
for nitrogen oxides, sulphur dioxide, benzene, toluene, particulate matter PM10
and PM2.5, as well as ozone. Propagation
calculations are additionally carried out
here since these measurements include
exhaust gasses from other groups. The
software Lasport that was specifically developed for use by airports was updated in
2015 so that current emission factors can
also be given consideration, among others.
Neighbourhood dialogue
The airport plans to be certified for Level
3 “Optimisation” in 2016. The respective
reports were presented at the end of 2016
and confirmed by an independent certifier.
Düsseldorf Airport was not only able to document a comprehensive climate protection strategy for Level 3 certification (“Optimisation”) but also a valid CO2 balance.
The presented CO2 balance for 2015 includes the volume of CO2 emissions caused
by activities and systems, those which are
directly controlled by the airport according
to Scope 1 (internally produced energy and
fuels), Scope 2 (energy purchased from
third parties) and, for the first time Scope 3
of ACA. Scope 3 emissions relate to emissions produced at the airport by third parties whereby the airport cannot influence
these emissions directly. Among others,
these emissions refer to emissions produced by aircraft during the LTO (landing and
take-off) cycle, including those produced
by third party handling companies or feeder traffic.
The Local Citizens’ Office at the airport
is the first contact point for all air-traffic
issues, complaints about the impact of
flight operations or enquiries about noise
protection claims. Regular publications
(such as the neighbourhood paper “von
Hier aus”) or an information letter are used
to inform local residents about short-term,
time-limited changes in flight operations
or apron activities in addition to current issues relating to the airport. Communica- “Airport-Carbon-Accreditation” is an exclusive international, standard-based system
tions about required operating procedures
at an airport and activities that particular- that was developed so that airports can rely relate to flight noise and air quality de- cord greenhouse gas emissions together
monstrate that the airport strives to redu- with an independent review of computed
ce such nuisance to an absolute minimum CO2 footprints and specify reduction tarin order to increase the acceptance of air gets. The regular certification programme
enjoys a high level of recognition worldwitraffic in spite of environmental damage.
de since it requires environmental commitment and continuous improvements.
The airport’s staffing unit “Neighbourhood
Dialogue and Sustainability” additionally provides services to visitors and organises The climate protection strategy of Düsseltrips around the airport. These services dorf Airport includes a reduction of CO2
emissions for every traffic unit (TU) from
are provided by 19 employees.
2.83 kg/TU in 2010 (reference year) to 2.55
kg/TU. The airport has already more than
met this objective with a current figure of
Environment
2.33 kg/TU.
At the beginning of the year under review,
the environmental commitment of Düs- The volume of emissions that can be inseldorf Airport to reduce carbon dioxide
fluenced directly by Düsseldorf Airport
(CO2) emissions from operation of the air- amounted to a total of roughly 59,180 tonport was once again officially awarded the
nes in 2010, approximately 61,000 tonnes
certified seal of approval from the presti- in 2011, 56,850 tonnes in 2012, 57,820
gious climate protection programme “Air- tonnes in 2013, 53,880 tonnes in 2014
port-Carbon-Accreditation” (ACA) for Le- and 54.406 tonnes in 2015. This figure revel 2 “Reduction” in 2015.
presents a quite low increase of 0.075% in
Düsseldorf Airport Annual Report 2016
comparison with the absolute volume of
54,365.38 t CO2 in 2014. It corresponds
to 2.33 kg CO2 per traffic unit, thus representing an extremely low increase of
0.075% in comparison with the absolute
figure for 2014 (54,365.38 t CO2). The value of 2.33% per traffic unit was achieved
although traffic units have increased by
2.5% at the same time, so that it represents
a decrease of 2.3%.
The savings target for Scope 1 and Scope
2 emissions produced at Düsseldorf Airport is 10% for 2020 with reference to the
average figures from 2010 and 2012. This
means that the relative CO2 footprint in kg
CO2 per TU will decrease to 2.55kg/TU in
2020. The target of 2.55 kg/TU will then
be compared with the median value for
the rolling past three-year period in order
to achieve a long-term and continuous reduction of CO2 emissions.
Düsseldorf Airport was able to reduce its
relative CO2 emissions by 3.9% from 2.54
kg/TU (average 2012 - 2014) to 2.44 kg/
TU (average 2013 - 2015).
The current target for 2020 has been maintained by the airport although it has already achieved this goal. The main reason is
that this is a long-term objective and the
CO2 emissions depend on variables that
cannot be directly influenced, such as the
CO2 factor Stadtwerke Düsseldorf or weather conditions.
Düsseldorf Airport was once again certified and honoured in 2015 the with ECOPROFIT seal - a programme that is supported by the City of Düsseldorf, The Chamber
of Industry and Commerce, the NRW Efficiency Agency and the Energy and Environmental Centre of the Chamber of Commerce in Düsseldorf. It represents the gateway
to management of the environment and it
also links ecological benefits with economic gain.
In 2015, the airport was also honoured as
a lighthouse project for the involvement of
its employees in connection with the 15th
anniversary of ECOPROFIT. 37 CO2 scouts
65
from FDG supported the airport in its efforts to protect the environment.
Energy Efficiency Guideline 2012/27/EU
was implemented into national law in connection with the Energy Services Act. In
accordance with this guideline, the airport
had to subject itself to an energy audit by 5
December 2015. This audit has produced
further energy-saving proposals.
Economic importance
Düsseldorf Airport and the region are located in the centre of Europe from a geographical perspective and in the industrial
heart of Germany. Practically all European
centres can be reached from here within
one and a half hours of flight time. Approximately 18 million people live within a radius
of 100 kilometres in the catchment area of
Düsseldorf International Airport. The settlement of the Rhine-Ruhr Region can be
compared with the metropolitan regions
London and Paris in Europe and is also the
third strongest economic area in Europe.
Nine of the 30 enterprises listed on the
DAX have their headquarters in North
Rhine-Westphalia, among others E.ON,
Henkel, METRO, Bayer, ThyssenKrupp and
RWE. 40% of all German groups have their
headquarters in NRW. But not only larger
corporations have come to appreciate this
most populous German state and manage
their business from here: Approximately
765,000 smaller and medium-sized companies have their headquarters in NRW.
About 15,000 foreign companies from the
most important investor countries control their German and European activities
from here. Among others, these companies are, 3M, BP, Ericsson, Ford, LG Electronics, QVC, Sony, Toyota and Vodafone.
All-in-all, more than 100,000 German an
international companies are domiciled in
the region, and about 5,000 of these businesses are either branches or subsidiaries of major foreign corporations. International presence and quick availability are
very important to these companies under
consideration of our globalised economies.
66
Surveys confirm that companies in Düsseldorf and the region have a great affinity for
the airport. The successful settlement of
high-ranking groups in the greater Düsseldorf area - such as SAP, Mitsubishi Electric, Vodafone, E-Plus, Esprit or HewlettPackard, for instance - can also be traced
back to their nearness to the airport. The
following conclusion was taken from a study that was carried out by the economic research institute Rheinisch-Westfälisches
Institut für Wirtschaftsforschung, Essen
(RWI): The airport particularly promotes
the settlement of airport-affiliated businesses while on the other hand the companies in the region provide the airport with
passengers and air freight.
Düsseldorf Airport is also an important
economic factor for Düsseldorf as an
administrative district and North RhineWestphalia. Companies at the airport
purchase deliveries and services in an
amount of roughly 2bn EUR every year.
The provision of services at Düsseldorf
Airport generates a tax volume of 846.9m
EUR every year. The gross regional value
added currently amounts to a sum of approximately 3.4bn EUR.
With a total of more than 56,700 jobs, a
gross added value of 3.4bn EUR and tax
revenue of almost 847m EUR from the provision of services alone, the airport is presently an important economic factor, not
only with regard to the Düsseldorf region
but also for the entire state of NRW.
Significance for the
labour market
About 21,600 people work at Düsseldorf
Airport. The airport is consequently one
of the biggest workplaces in the North
Rhine-Westphalian capital and one of the
biggest in all of NRW. This was documented by the most recent workplace survey
that was conducted for Düsseldorf Airport
by Institut für Handelsforschung (IfH) at
Cologne University in 2016. The survey
period was from 5 September until 25
October 2016. 489 companies reported
18,100 employees in total who are employed at Düsseldorf Airport. 15,988 of these employees can be allocated to the 208
companies who have their permanent domicile at the airport. An additional 2,116
jobs are provided for 281 companies who
send their employees to the airport from
outside, such as personnel service providers, consulting companies, construction
companies or cleaning services. About
1,800 more people were consequently
employed at Düsseldorf Airport than stated in the previous survey period 2014
(19,800 jobs). Duisburg Port, in comparison, counts about 40,000 workplaces
and the chemical park in Leverkusen has
roughly 30,000 employees.
Traffic infrastructure
The railway station “Düsseldorf Airport”
links the airport with Deutsche Bahn AG’s
long-distance railway network. It is located on one of the busiest railway routes in
Germany. Approximately 350 trains stop
here day in, day out - from the ICE to the
suburban S-Bahn. The train station is located in the centre of important German
traffic junctions and connections with
the entire Ruhr District. To the referenced
350 stops we must, however, also add 60
more stops at the underground Terminal
Station. Passengers from many places all
over the catchment area can take a train at
least once every hour to get directly to or
from the airport without having to change
trains. The airport pursues the objective of
seamless travel which allows passengers
to comfortably change forms of transport.
The “SkyTrain Station” is located directly
in the railway station “Düsseldorf Airport”.
This transport system is a people mover
that transports passengers to the terminal building within a short space of time.
Düsseldorf International Airport is of the
opinion that intermodality simply does not
end with the journey to the airport. The airport is located in the interface of important
transport routes such as motorways A 3,
A 52 or A 44 and even has its own motorway exit, an excellent connection even for
Group Management Report
passengers from the Netherlands and Belgium. Düsseldorf Airport can be reached
from many areas in both neighbouring
countries a lot faster now than it would
take to get to the airports in Amsterdam
or Brussels, particularly after completion
of the A 44 Bridge across the Rhine.
Target figure for the
share of women
In its resolution dated 15 September 2015,
the Supervisory Board of Flughafen Düsseldorf GmbH specified a 0.0% share of
women in management and 15.0% for representation of women on the Supervisory Board.
Management adopted the additional resolution on the same day, according to which
the respective target figure for the first management level below executive management is 15.8% and that for the second management level is 25.0%.
The deadline for achievement of the abovementioned target figure was specified as
30 June 2017 following unanimous vote.
Earnings situation
Internal corporate management assumes the following development for financial performance indicators that, among
others, could possibly contain imputed
elements in comparison with commercial
law data. The internal performance data
do not give consideration to reclassification effects of BilRUG under commercial
law in order to ensure the comparability
of these data:
The Düsseldorf Airport Group generated a
net group profit of 59.9m EUR for the business year 2016 (previous year: 53.7m EUR)
under consideration of total sales amounting to 464.9m EUR (2013: 449.0m EUR).
Düsseldorf Airport Annual Report 2016
Aviation revenues increased from 274.9m
EUR in 2015 to 280.6m in 2016. This result
represents an increase in passenger numbers while the total number of aircraft movements remained practically unchanged.
from 55.6m EUR to 61.4m EUR while utility revenues decreased from 14.6m EUR
to 14.2m EUR during the period under review. Other revenues increased to 20.4m
EUR in 2016..
Aviation revenues consist of fixed and variable landing fees, parking fees and ground
handling services. Landing fees increased
from 228.0m EUR to 234.2m EUR during
the period under review. Ground handling
service revenues decreased from 31.9m
to 30.7m EUR in 2016. Airline promotion
payments in accordance with the Schedule of Fees in an amount of 9.1m EUR are
recognised under landing fee revenues as
a reduction in sales
Other operating revenues reflect revenue from the release of other provisions
in an amount of 1.9m EUR, special items
for subsidies in an amount of 3.2m EUR.
Revenues from operation of the Sky Train,
which were recognised under other operating revenues in 2015, were allocated to
sales revenues (business division Operations) in an amount of 1.4m EUR in 2016
due to the new definition of sales revenues – Non-aviation, according to BilRUG
Non-aviation (commercial) revenues increased from 174.1m EUR in 2015 to 184.3m
EUR in 2016. Non-aviation revenues consist of rent revenues (e.g. F&B, retail and
advertising areas) lease and sales-based
rent revenues (e.g. F&B, retail and advertising areas), utility and other revenues
(e.g. workshop services provided for third
parties and revenues from operation of
the SkyTrain). Non-aviation revenues additionally mirror revenues from the sale of
land (Airport City). Rent revenues increased from 75.7m EUR to 76.1m EUR. Lease
and sales-based rent revenues increased
The cost of materials decreased by 3.2m
EUR to a total amount of 95.7m EUR in
comparison with 2015. Among others,
the FDG Group shows under this position
the consumption of energy, the land rent
for the airport grounds, certain rent and
leasing expenses as well as costs for the
disposal of rubbish and waste water, maintenance expenses and other purchased
services. In its narrower sense, the cost
of materials mainly refers to workshop,
repair materials, consumables and deicing agents.
YTD 2016
YTD 2015
Cash flow (in EUR k)
124,000
130,718
EBIT (in EUR k) 106,913
104,918
EBITDA (in EUR k) 177,441
173,555
EBITDA margin 38.2 %
38.7 %
ROCE
13.0 %
12.2 %
Return on equity (EBIT) 49.5 %
45.0 %
Return on sales (operating result) 22.8 %
22.8 %
Return on capital 11.3 %
10.0 %
Sales / FTE employee (in EUR) 225,447
222,021
Personnel expenses / employee (in EUR) 64,655
63,459
Economic equity (in EUR k) 178,225
174,035
Economic equity / balance sheet sum 18.05%
16.67 %
67
Financial standing and
overall representation
The number of employees decreased from
2,314 (annual average 2015) to 2,205 (annual average 2016). Personnel expenses
remained practically the same as in 2015
(+0.1m EUR) while the average number of
employees decreased across the group
of companies. Among others, this development resulted from a transfer of the
restructuring subsidy for FDGHG in 2015
from extraordinary result to personnel expenses in connection with BilRUG. A 2.4%
increase of standard pay in 2016 has also
increased payroll expenses. .
Depreciation increased by 1.3m EUR to
69.9m EUR during the business year 2016
The position other operating expenses
(69.7m EUR) includes, among others, PR
and marketing expenses, valuation adjustments for bad debt, DP expenses, legal
and consultation fees, insurance premiums, money transaction costs and security services.
The above-described developments produce an operating result in an amount of
106.9m EUR (in 2015, 104.9m EUR before extraordinary expenses in an amount
of 2.9m EUR). This leads to an EBITDA of
177.4m EUR (previous year: 173.6m EUR)
and a corresponding EBITDA margin of
38.2% (2015: 38.7%).
vehicles Estamin and Japon are financed
independently. Extraordinary results are
no longer reported according to the provisions of BilRUG since these requirements
came into force for the first time during
the business year under review. Last year’s
presentation was adjusted accordingly.
Asset situation
Medium- and long-term tied assets decreased from 978.0m EUR in 2015 to 952.3m
EUR in 2016.
Additions to tangible fixed assets amounted to 46.2m EUR, which is practically
the same as the volume of investments in
2015. Among others, material additions
refer to land and buildings, the new baggage-handling system, the installation and
provision of new security checkpoints and
the lighting system on the apron.
Short-term tied assets are reported with
an amount of 35.0m EUR in comparison
with 65.9m EUR in 2015.
Receivables from customers amounted to
a sum of 19.3m EUR in 2016 in comparison with 27.9m EUR in 2015. The result for
2016 represent an average trade accounts
receivable term of 18 days in 2016.
The group of companies collected invest- In contrast to the individual financial statement income in an amount of 997k EUR ments of the consolidated companies,
from the joint venture BISAWA for the fi- deferred taxes are formed at a so-called
nancial year 2016.
“commercial balance sheet II” level in the
consolidated accounts to cover differenInterest expenses for loans decreased ces between commercial law and tax bafrom 20.8m EUR in 2015 to 16.6 EUR in
lance sheet valuations. Deferred taxes are
2016. The borrowing envelope dropped by also set up for consolidation-based differences. In this process, deferred tax as35.3m EUR on prior year and amounted to
a sum of 525.2m EUR. Approximately 63% sets and liabilities are shown at their gross
of these loans are secured by way of fixed amounts, i.e. without netting off. Deferred tax liabilities essentially consist of the
interest rates. Interest charges decreased
in comparison with 2014 due to the cur- missing offsetting of the special item with
rently low interest rates so that FDG was accrual character for taxation, while deferable to profit from this situation, particular- red tax assets result from the different valy with regard to variable loans, the accep- luations in the individual annual accounts
tance of new loans and follow-up hedging. of the leasing companies and valuation of
the assets in the consolidated accounts.
External loans are basically taken out by
the parent company. The special purpose
68
The subscribed capital sum and the capital reserve have practically remained unchanged in comparison with 2015. Last
year’s profit was completely distributed
to the shareholders.
Other provisions decreased from 90.5m
EUR in 2015 to 73.6m EUR in 2016. The
biggest individual provisions relate to
emission/noise protection programmes
and discounting/route incentives for airlines.
Amounts owed to banks decreased by
6.3% on prior year to a grand total of
552.5m EUR. This position basically gives
consideration to liabilities resulting from a
consortium bank loan that was taken out in
1998, after the airport fire in 1996. A longterm promissory note loan was taken out
over an amount of 198.0m EUR in April
2014 to finance investments and reinvestments. Short-term loans were also continuously taken out throughout the business
year under review to balance seasonal liquidity fluctuations, for instance. Liabilities to associated undertakings generally
refer to the joint venture BISAWA.
Property-financing liabilities relate to the
financing of the special purpose entities
that are included in the consolidated financial statements. This item has decreased
as scheduled by 4.8m EUR.
Financial funds are reported with a sum
of 8.5m EUR (previous year: 25.6m EUR)
at the end of the period under review, i.e.
after payments for investment activities,
payments made to the shareholders and
the repayment of medium- and long-term
loans. Short-term operating loans are not
included in financial funds.
Seen from an overall standpoint, management considers the earnings, asset and
financial standing of the group as being
by all means satisfactory, thus representing an excellent starting position for the
further development of the group of companies.
Group Management Report
Opportunities and risks
The successful control and management
of business opportunities and risks requires a cross-company inventory of all risks
and opportunities that is based on the systematic tracing of the opportunity and risk
landscape at Flughafen Düsseldorf GmbH
and its subsidiary companies. A complete
risk inventory was presented for the first
time in 2000. This inventory has been updated on a regular basis since then, so that
changes in individual risks can be noted
and observed as time passes.
The opportunity and risk management
process is essentially broken down into
the phases Identification, Valuation, Control, Monitoring and Communication and
is also documented in form of an Opportunity and Risk Management Guideline. The
term ‘risk’ is specified in this context as
already noted current risks and those that
could result from future developments and
could consequently cause an actual value to vary negatively from a pre-defined
budget figure. Whenever an actual value
varies from a budgeted value in a positive
sense, this is then defined as an opportunity whereby the currently valid business
plan constitutes the basis for any respective valuation.
The internal control system represents
another important element in the avoidance and control of risks. The internal
control system consists of monitoring
measures that are both process-integrated and independent of processes. Material risks are compiled in a central documentation system as well as being documented in the accounting and operating
processes along with the associated control procedures.
The individual business units are urged to
document the observation respectively the
performance of diverse control/monitoring
measures. A recurrent annual process serves to ensure that the various process control measures are carried out.
Automated IT process control measures
represent an important element of the internal control system, in addition to vari-
Düsseldorf Airport Annual Report 2016
ous control measures that are specifically
tailored to the requirements of administrative, executive, invoicing and permit/approval functions.
Budget planning
A distinct corporate planning process
(“budgeting”) additionally represents a
central part of the overall risk management
system at FDG. This process is carried out
every autumn for the following year (on a
monthly basis) and for the four following
years. The business plan is prepared on
the basis of the counter-flow principle and
must be approved by the shareholders’
meeting, after having been subjected to
a preliminary discussion by the supervisory board.
After the budget has been adopted, it is
then closely monitored by the controlling
department in respect of budget compliance. This monitoring process is also associated with a quarterly forecast for the
annual profit-and-loss account and the
anticipated year-end profit.
Significant opportunities
and risks
The Environmental Agency of the City of
Düsseldorf has conducted surveys in the
north of the city since 2007 to examine
contamination caused by perfluorinated
tensides (PFT). Increased concentrations
were not only noted on the airport grounds
in the course of these examinations but
also in the ground water in Kaiserswerth
and Lohausen. A hazard assessment was
carried out on the basis of numerous examinations. Three ground water treatment
systems were installed at the former fire
drill pond in November 2015, at Fire Station North in May 2016 and at Runway South, for Atlas Air accident site in June 2016,
after a pilot system had been successfully
tested beforehand. The annual accounts
2010 had already given consideration to
the associated costs in form of a provision for the expected investigations and re-
development measures. It cannot be fully
excluded at this early point in time that
the FDG Group might be confronted with
considerably higher costs for elimination
of this problem owing to soil redevelopment measures on the airport grounds
and a possibly required redevelopment
of the PFT flags in the ground water outside of the FDG territory. The rehabilitation options and legal requirements for a
redevelopment of the soil masses are still
not clear at this point in time due to lack
of specified limit values and remediation
target values. The requirement of a redevelopment of these flags can impossibly
be assessed at this point in time. There is
also no definitive clarity as to whether the
FDG Group will have recourse at least for
part of those costs incurred by it. Additional construction costs could also be noted for civil engineering measures if the
ground is contaminated with PFT that will
have to be disposed of. The associated
projects might have to be postponed, depending on the given situation.
The liberalisation of ground handling services that have been provided since 2004 by
FDGHG, the 100% subsidiary of FDG, has
led to an on-going strengthening of competition in this sector. The ground handling
market share held by FDGHG was only 6%
in 2016. The restructuring programme that
was drawn up in 2012/2013 is still being
implemented at present and will probably only improve the earnings situation at
FDGHG in a sustained way in 2018. FDG
will consequently have to continue to absorb further significant losses until then.
One important risk is, however, seen in
the possibility that the restructuring programme cannot be implemented as planned. The planned dispensation of terminations for operational reasons in favour of
covering staffing demands internally (security and other services) leads to the waiver of other group companies of a possibly
more reasonable coverage of these needs
in connection with leasing of personnel.
The past outsourcing of FDG divisions,
such as the establishment of the subsidiaries FDGHG and FDSG as well as the
69
outsourcing of information technology into
the joint venture SITA Airport IT GmbH always related to a corresponding number
of employees. As long as these personnel measures are carried out under consideration of the provisions of the articles
of Rheinische Zusatzversorgungskasse in
Cologne, they will not impact a potentially
possible compensation payment for already acquired and vested pension rights of
the rights of the concerned group of employees. This issue is included in the analysis of all projects, particularly since the
value of a possible payable compensation
increases along with the increasing average age of these employees. It can nevertheless still not be excluded that FDG
might also have to make compensation
payments for past outsourcing measures.
The increased threat of terror respectively
the regular security audits could also lead
to increased official security requirements
that might even entail new security concepts or scanner technologies (full-body
and liquids scanners, for instance).
An EEG (renewable energy portion) price share of 6.88 ct/kWh was specified for
2017. Current forecasts lead to the expectation that these EEG costs will probably
continue to rise in future years. Additional
levies are also possible. The noted increase generally represents a risk for the development of business at FDG. Countermeasures were already decided in past years
to buffer this effect, and management has
also looked into and implemented an increase in the use of LED lighting and an expansion of the company’s self-sufficiency.
The two biggest airline groups at Düsseldorf Airport are Air Berlin and the Lufthansa Group, consisting of Lufthansa and
Eurowings. This naturally leads to opportunities and risks for the airport, in addition to the economic development of these
carriers. The already introduced cost-savings programmes of both of these airlines
could lead to a reduction in flight services
and adversely affect hub traffic at Düsseldorf Airport. Air Berlin, for instance, will
particularly continue to expand its inter-
70
continental flight services, including the
associated feeder services, and Eurowings is planning to expand its continental
services in connection with the wet lease
agreement with Air Berlin. This situation
leads to the opportunity that additional
market shares could be noted in the state
of North Rhine-Westphalia, as in prior years. The impact of the establishment of the
new holiday carrier company with Niki and
TUI, to which Air Berlin has already transferred its touristic business, still remains
to be seen, and how the remainder of Air
Berlin will develop as a network carrier. The
competitive situation caused by low cost
long-haul traffic at Cologne/Bonn Airport
could also have an impact here. However,
the introduction of additional new routes
by already established or even new airlines
(such as Norwegian) in continental and intercontinental traffic could have a positive impact on traffic at Düsseldorf Airport.
The State Ministry of Transport issued the
planning permit decision for the installation of apron areas in the western sector of
the airport on 15 June 2015. This decision
is enforceable with immediate effect. The
cities of Ratingen, Kaarst, Meerbusch and
10 private parties have already filed suit,
demanding that this decision should be
repealed. The City of Meerbusch and the
above-mentioned 10 private parties have
additionally filed a petition demanding
restoration of the suspending effect of
their suits. This leads to the risk that FDG
might not be able to build required parking
positions if the above decision is repealed.
The business plan considers a planning
permit decision in 2019 with initial increases in traffic volumes during the winter
flight schedule period 2019/2020. In addition to the required investments in infrastructure at the airport, receiving the new
operating permit in 2019 and the correspondingly resulting increases in traffic volumes, management also expects to note
positive effects due to additional aviation and non-aviation revenues. FDG responded to more than 41,000 objections
against the new permit in 2016. The public hearing was held in mid-February 2017.
This hearing represents a further milestone in the permit procedure. However, there is a risk that the procedure could be
delayed, or even that other developments
could arise, so that the increases in traffic
volumes that were planned to be noted
from the new permit might not be able to
be realised during the business-planning
period. If the requested increase in capacities is not approved, this could lead to a
stagnating or even dwindling development
of business at the airport.
Potential risks to the economic development at Düsseldorf International Airport
can also be noted from the political level,
meaning the stance taken by German and
European politicians in respect of air traffic. The so-called Aviation Tax, for instance,
was introduced in 2011. The air-traffic
sector was also included in the European
emission trading system in 2012 although
this measure was postponed again with
effect from 2013. ICAO, the international
aviation association, is presently working
on an international system for climate-protection levies in the aviation sector. Such
and similar measures could lead to an increase in ticket prices and consequently
also influence passenger numbers at Düsseldorf Airport. We can also not exclude a
future complete or partial abolition of tax
privileges on kerosene.
FDG has been making major efforts for years in respect of noise protection, meaning
the limitation of noise nuisance caused
by air traffic in residential areas located in
the direct neighbourhood of the airport.
Prolongations or expansions of operating
permits have in the past been frequently accompanied by additional noise protection requirements on FDG. FDG has
formed corresponding provisions for the
current noise protection programme. It
cannot, however, be excluded that these
provisions might turn out to be insufficient, and the airport might even be burdened with further noise protection requirements in future.
The weather situation and damaging
events represent another risk that can-
Group Management Report
not be ultimately influenced by Flughafen Düsseldorf GmbH. Snowfall and ice,
for instance, can interfere with air traffic
which would then again affect the revenues noted by FDG. The same applies to natural catastrophes such as the eruption of
volcanoes, as was last noted in 2010. The
de-icing business at FDGHG is also strongly dependent on weather conditions and
can represent a risk and an opportunity for
the ground handling company. Aircraft accidents or even terrorist attacks could also
have a negative impact on the development of the air traffic business - latter possibly also due to increased security efforts
that are usually introduced after such incidents. The general overall economic development also exercises a strong influence
on the development of traffic at Düsseldorf
Airport. An increase in national debt and/or
the economic crisis in the euro zone could
also have an impact on business and charter flights, in addition to political conflicts.
Airports are high-risk companies that they
are under special observation by public
stakeholders and opinion leaders. Many
potentially negative issues entail the risk
of reputational damage/image damages
at a communicative level if the company
fails to react in an adequate way. There is
also a derived risk that passengers prefer
to use airports in the vicinity as a result of
reputational damage, so that the loss of
customers could have a negative impact
on the earnings situation of the company.
The risk of reputational damage can emerge from quite different areas that evidence
diverging probabilities of occurrence and
effects. As an aviation location, Düsseldorf notes a series of reputational risks
at present. It is important to note in this
context that the situation is further aggravated by the simultaneous occurrence of
reputation-damaging issues. Delays with
the handling of baggage and several staffing shortages at the security checkpoints
in 2015 are mentioned here as examples.
The development of the non-aviation business areas is also exposed to risks and
opportunities. The rental situation, for instance, could decrease in connection with
Düsseldorf Airport Annual Report 2016
the termination or non-extension of rental
contracts, as was the case with Hangar 8.
These would then have to be buffered elsewhere. The advertising sector is strongly dependent on economic activity, but
still provides considerable opportunities
in connection with new forms of advertising and increasing digitalisation. Prices
are very sensitive in the parking sector,
and competition is considerable in this environment. The airport has already taken
measures to counter this development and
established the brand “Parkvogel” [Parking Bird] by way of the subsidiary company SITA Airport IT GmbH in the holiday
parking sector. Retail revenues are also planned to be increased by expanding and
modernising the food-and-beverage sector and the retailing areas. Increasing digitalisation additionally provides outstanding marketing opportunities here.
The opportunities and risks noted by Flughafen Düsseldorf Immobilien GmbH are
seen in the scheduled sale of land in “Airport City”. Past experience documents
that the chances of this land being positively marketed outweigh the risks.
FDG has provided guarantees for subsidiaries in individual cases although current estimations conclude that these will
probably not be needed in the near future.
Risks from Application of
Financial Instruments
FDG is not subject to any noteworthy
exchange rate risks – neither with regard to its marketing activities nor to its
purchasing procedures.
The risk of default on accounts receivable
from customers is checked by a comprehensive dunning process. Customer deposits that must be maintained throughout
the entire business relation are carried by
FDG since a classic credit limit system is
only applicable to FDG to a limited degree. Adequate write-downs are made for
doubtful debts.
Reference is made to the above notes in
respect of risks relating to the group of
companies and holdings of FDG.
The major part of credit financing at FDG
is based on variable interest rates on a regular EURIBOR basis. In such cases, FDG
strives to obtain comprehensive hedging
against these risks but still leaves enough
room for interest opportunities by not
hedging a certain part. The so-called
Treasury Board passes decisions on the
hedging level as a whole and also on individual protection measures. At present,
approximately 63% of variable interest loans respectively SWAPS are secured. FDG
employs so-called micro hedges for security. Interest swaps are exclusively used
as hedging instruments. The effectiveness of hedging is determined on the basis of the so-called critical-terms-match
method. When dealing with loan tranches
that are tagged with repayments, the airport makes sure that the hedging instrument also carries out a “repayment”. The
full remaining term of loan tranches is not
always hedged in this process although
one tranche is always fully hedged. Consequently, there are also some so-called
part-time hedges. If required, so-called
forward interest swaps are concluded as
follow-up hedging measures. Seen from
an accounting viewpoint, the above-described hedging leads to their treatment
as valuation units with the respective (partial) loan so that the (forward) swaps themselves do not represent any further risks.
Possibly existing negative market values
are covered by way of provisions. The currently favourable interest levels rather represent an opportunity for FDG since the
airport benefits from this development
with regard to the variable portion of loans.
The consortium loan agreement includes
so-called financial covenants. Their nonobservation could lead to termination of
the loans. These covenants refer to an
economic equity quota and a minimum relation between cash liquidity and average
capital service for the next 5 years. Cash
liquidity in this context is understood as
being a type of cash flow. A (future) non-
71
observation of these financial covenants
is improbable, according to current estimations.
The overall risk situation within the FDG
Group is generally considered as being
controllable from a present-day viewpoint. There are no evident potential risks
to the Group‘s ability to continue as a going concern.
Forecast
The robust economic upswing that has
been noted by the German economy since
2013 is expected to continue. Ifo, the Munich-based private economic research institute, forecast that the real gross domestic
product will increase by 1.9% during the
present year. This increase could drop to
about 1.5% in 2017; however, this will only
be the result of a lower number of working
days in comparison the 2016.
The German real GDP is expected to increase by more than 1% in 2017, so that economic expansion will continue, albeit at a
slightly slower pace. This slowdown can be
explained with three effects: Firstly, the positive effect of energy prices from 2016 will
no longer be noted. Secondly, investment
activities will continue to lose momentum,
mainly owing to the increased worldwide
uncertainty and the associated attenuation of global investments and the international exchange of goods. Thirdly, 2017 has
three working days less, meaning that this
will slow down growth by about 0.25%.
However, the risks with which the present forecast is associated are extremely
high. The Brexit referendum, presidential
elections in the USA and the failed constitutional reform in Italy has led to considerable changes in the global political
landscape. This could have far-reaching
and largely uncertain consequences for
the global economy, including Germany,
in years to come.
72
This higher global uncertainty will represent a burden on global investments and
consequently also on export prospects
and the propensity of the German economy to invest. Employment is expected to
increase to about 43.9 million persons in
2017 (+1%), and the number of unemployed persons will probably drop to roughly
2.7 million persons. The unemployment
rate will be around 6% on average in 2017.
Air-traffic respectively passenger numbers
are still expected to increase in 2017 at a
rate that is above the general growth rate.
The demand for take-off and landing windows - so-called slots - is still very high
and already exploits the available capacities.
Both Deutsche Lufthansa and the Air Berlin Group will continue to focus on the biggest airport in NRW as a hub.
Coordination of the summer
flight schedule period 2017
It was decided during the meeting of the
Coordination Committee that the reference coordination figures of 43 movements (single runway operation) respectively 45 movements (operation of two
runways) would remain unchanged for the
summer season 2017.
A total of 177,850 slot requests were filed
for Düsseldorf by the slot request deadline
06 October 2016. This corresponds to an
increase of 3.2% respectively 5,686 more
movements in comparison with the summer flight period 2016. An average total of
6.3% more slots was requested for all coordinated respectively facilitated airports
in Germany. With a figure of up to 69 slots
per hour, a lot more movements were requested for peak hours than the number
of 45 slots per hour that can actually be
allocated by the airport coordinator for
operation of two runways at Düsseldorf
Airport. 871 slots were requested in total
for the peak day. However, this number is
limited to 747 movements.
The airport coordinator was able to assign
155,833 slots for scheduled and charter
traffic at Düsseldorf Airport during initial coordination on 27 October 2016. This
number corresponds to a slight difference
of +2.1% respectively 3,163 slots in comparison with initial coordination for 2016.
The noted increase in coordinated movements mainly results from the fact that
the airlines have meanwhile started to fill
formerly vacant slots during low-demand
times (e.g., on weekends).
However, the airport coordinator was still
not able to accommodate about 19,000
slot requests, and more than 20,000 slots
had to be coordinated with considerable
time differences.
133,911 movements were coordinated
for the summer flight season 2017 as at
28.12.2016. This figure represents an increase of 1.7% respectively 2,226 slots in
comparison with the previous year and
is the highest coordination status in the
past six years.
Forecast 2017
The above-mentioned framework conditions for the summer season 2017 and
the expectations on the winter period
2016/2017 lead management of FDG to
the expectation that Düsseldorf Airport
will probably register about 24.2 million
passengers in 2017. The increases in sales
in the aviation and non-aviation sectors are
also expected to reflect this development.
The continuing trend towards employing
bigger aircraft will, however, lead to a decrease in potential growth in the aviation
sector. The operating result is expected to
increase accordingly and reach a level of
roughly 97.5m EUR in 2017. An overall assessment by management of FDG comes
Group Management Report
to the conclusion that the earnings situation at Düsseldorf Airport should improve
continuously.
Key investments planned for the business
year 2017 consist of the general renovation of flight operation areas as well as new
investments in security/safety and comfort
in the terminal building.
Cash flow from current activities in 2017
is expected to be roughly in line with the
2016 result. The continuing high volume
of investments combined with the expected full distribution of the current year-end
profit will probably cause FDG to take out
a long-term net loan in an amount of up
to 23m EUR.
In the overall analysis, management of
FDG believes that the company is well
positioned for a positive further development of the airport company. It is nonetheless important to master the restructuring
requirements at the subsidiary company
FDGHG effectively and efficiently, in addition to continuously securing the current
mitigation of losses incurred by FHG MG
Supplementary report
Reference is made here to the Notes in
respect of events of special significance
noted after the financial year under review
was closed.
Düsseldorf, 22 February 2017
Flughafen Düsseldorf GmbH
Michael Hanné
Thomas Schnalke
Dr. Martin Kirchner-Anzinger
Düsseldorf Airport Annual Report 2016
73
74
Imprint
Publisher
Flughafen Düsseldorf GmbH
Corporate Communication
Manager: Thomas Kötter
Concept and Editing
Jörn Bücher
Design
Karl-Heinz Morawietz
Photography
Jörn Bücher (page 16)
Karl-Heinz Morawietz (page 23)
Andreas Wiese
Düsseldorf Airport Annual Report 2016
75
F
Annual Report 2016 2016
Düsseldorf Airport
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