Annual Report 2011

Transcription

1 Annual Report 2011

2 Table of contents Cologne Bonn Airport Gateway to Europe... 4 Foreword Executive bodies of the Company... 8 Cologne Bonn Airport in figures The year at a glance Passenger destinations in Cargo destinations in Noise protection an ongoing commitment Ten years low cost in Cologne/Bonn Beauty treatment for the Airport Surprising professions Management report of Flughafen Köln/Bonn GmbH Annual financial statements Auditor s report Balance sheet Income statement Statement of movement in fixed assets Report of the Supervisory Board for the financial year Originators Annual Report

3 Cologne Bonn Airport Gateway to Europe Three runways: Intercontinental runway 14L/32R: 3,815 m 60 m Parallel runway 14R/32L: 1,863 m 45 m Cross wind runway 06/24: 2,459 m 45 m Airport premises: 1,000 hectares N O W S 9 aprons: 5 aprons for passenger traffic 4 aprons for cargo traffic 114 parking positions: 18 positions close to terminals (bridge positions) 96 remote positions Two terminals: More than 50 shops and restaurants 86 check-in desks: 46 in Terminal 1 40 in Terminal gates (total) 19 passenger bridges 3 car parks with 12,600 parking lots 14 L 14 R 4 Cologne Bonn Airport

4 C 32 R 32 L 06 Annual Report

5 Foreword Ladies and Gentlemen, The results for the year 2011 are positive, with sales revenues rising to million and a profit of some 10 million. This was one of the best economic results ever achieved by Cologne Bonn Airport. On the whole, our traffic figures also showed a positive development. The cargo volume increased by more than 13 percent to over 742,000 tonnes. The development in passenger traffic was not quite so positive. 9.6 million passengers meant a minus of 2.3 percent in comparison to the previous year. However, this was in line with our forecast for Here, two factors were decisive: on the one hand the introduction of the air traffic tax by the Federal Government as of 1 January 2011, and on the other the cutback in seating capacity by Air Berlin in Cologne/ Bonn. With the tax, the tickets were obviously more expensive, and the particularly price-conscious lowcost customers reacted by choosing to fly from our neighbouring countries. The increase in turnover at airports in the Netherlands, such as Maastricht or Eindhoven, was well above average. A study published by the Federal Association of the German Air Transport Industry (BDL) talks of a drop in passengers in Germany amounting to five million due to the tax. In addition to this, in the course of their economic consolidation process, Air Berlin made extensive cuts in their capacities at Cologne/Bonn. Comparing 2009 and 2011, the capacities were reduced by almost a third. In the light of these adverse developments, it is all the more gratifying that the losses could be kept rather low thanks to the acquisition of new airlines. Again for 2012, we expect a passenger volume of 9.6 million. Most of these passengers are budget flyers. It is ten years ago that Germanwings and HLX, the first two German low-cost airlines, started up at Cologne/Bonn. In this new business sector, we became something of a trailblazer among the German airports. People who had never flown before or only very rarely were now in a position to discover Europe off their own bat. Within only a few years, Cologne Bonn Airport had doubled its amount of passengers. We can safely say that the low- 6 Cologne Bonn Airport cost sector has been quite a unique success story for Cologne/Bonn. The cargo sector also continues in a positive direction. After the new FedEx cargo handling centre went into operation in 2010, UPS announced in 2011 its intention to extend its cargo centre substantially. Some 145 million are planned for this, which will be the largest investment in buildings and facilities UPS has ever made outside the United States. We regard this a great sign of confidence in the close cooperation between UPS and Cologne Bonn Airport. 25 years ago, UPS started its business with us with only 40 employees and two small aircraft. Today, 37 aircraft land at Cologne/Bonn every day, and with approximately 2,300 employees, UPS is meanwhile the largest employer at the Airport. New jobs will also be created in the course of this major investment. Again, this is a great success story. For 2012, we expect a cargo turnover amounting to around 800,000 tonnes. To ensure that the Airport and the enterprises based here can develop their businesses successfully and the security they require for planning and investing can be maintained, the scope of the airports should not be curtailed by political decisions. Unfortunately, in reality, things look a bit different. More and more German airports are being excluded from night operations, which means that aircraft noise is concentrated on fewer and fewer airports. This is not only detrimental for the airports, but also for the entire economy. In this context, we would point out that some 40 percent of the worldwide movement of goods is effected by air. Nowadays, in the transport of high-quality merchandise, time and speed play a decisive role. The customers demand latest collection and earliest delivery, plus perfect timing in the supply of parts within their industrial production processes; this all calls for night transportation. If the export-oriented German economy does not want to be unhitched from the international flow of goods, cargo will continue to need the night. However, this does not always find favour. Therefore, one of our top priority management responsibilities is to continue with our efforts in relieving our neighbours from aircraft noise. Our aim is to strike a balance between economic interests and the basic need we all have for quiet. Our

6 voluntary programme for passive noise protection, which we have been providing for our neighbours for more than 20 years now, is an important component in our extensive noise protection programme. This also includes the CDA (Continuous Descent Approach) introduced three years ago. This approach procedure reduces the noise level in the Airport neighbourhood and is compulsory for night flights. We will also offer rebate rates for Boeing 777 aircraft, which are substantially quieter than the MD11. This way, we want to provide the airlines with an incentive to modernise their aircraft fleets. The Airport website has since become an important source of information on everything about aircraft noise at Cologne Bonn Airport, offering maximum transparency. Every five years, Cologne Bonn Airport has to demonstrate that things have become quieter around the Airport at night. Delivering this evidence is a strict proviso for the night flight authorisation. To date, we have always been able to fulfil this condition. Nevertheless, we continue to be open for any ideas to improve noise protection, however, under one condition: they should not entail prohibitions. Airports safeguard society s mobility. This applies equally for both persons and goods. At the same time, politics must give air- ports the possibility of developing further; we shall not accept restrictions. A matter very close to our heart and a large responsi bility is the well-being of our employees. Political inter ventions, such as a night flight ban, would lead to the loss of numerous jobs. We also reject the plans of the Competition Commissioner in Brussels to further liberalise the ground handling services. Opening up the market would mean encroaching upon a functioning market. Not only would the quality of work drop, wages would also be drastically cut an open invitation for wage dumping. What is particularly serious is that this liberalisation would force the airports to form spin-off companies. For Cologne Bonn Airport, it would mean the end of our own special way: in the past years, we have made every effort to secure good jobs in the ground handling services with fair pay. Cologne/Bonn is the only major airport in Germany where the ground handling services are still directly under the aegis of the Airport Company. Even if the air traffic industry looks towards 2012 with somewhat subdued expectations, we expect the business and traffic development at Cologne Bonn Airport to remain stable. As in the past, we rely here on the excellent work and unfailing commitment of our employees. Michael Garvens (Chairman of the Board of Management) Athanasios Titonis (Technical Managing Director) Annual Report

7 Executive bodies of the Company Board of Management Members of the Supervisory Board Michael Garvens Chairman of the Board of Management Bergisch Gladbach Athanasios Titonis Technical Managing Director Bonn (since ) Dr. Volker Hauff State of North Rhine-Westphalia Chairman Former Federal Minister Hans-Dieter Metzen Employees representative 1st Deputy Chairman Employee Flughafen Köln / Bonn GmbH Martin Börschel City of Cologne 2nd Deputy Chairman Lawyer (until ) Jochen Ott City of Cologne 2nd Deputy Chairman Former Principal (Oberstudienrat a.d.) (since ) Michael Odenwald Federal Republic of Germany 3rd Deputy Chairman Ministerial Director Nuretdin Aydin Employees representative Loading Supervisor Flughafen Köln / Bonn GmbH Rolf Bausch Rhein-Sieg District Former Ministerial Secretary (until ) Horst Becker State of North Rhine-Westphalia State Secretary (until ) Bernhard Braun Employees representative Employee of Flughafen Köln / Bonn Winrich Granitzka City of Cologne Consultant Dr. Günther Horzetzky State of North Rhine-Westphalia State Secretary (since ) Gerold Reichle Federal Republic of Germany Ministerial Director Jürgen Roters City of Cologne Lord Mayor Petra von Wick Federal Republic of Germany Ministerial Director Karl-Heinz Wildschrei Employees representative Employee of Flughafen Köln / Bonn GmbH Eduard Wolf Rheinisch Bergisch District Employee (since 15 June 2011) Waltraud Mayer Employees representative Employee of Flughafen Köln / Bonn GmbH Dr. Rüdiger Messal State of North Rhine-Westphalia State Secretary 8 Cologne Bonn Airport

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9 Cologne Bonn Airport in figures 10 Cologne Köln Bonn Bonn Airport Airport

10 Traffic development Aircraft movements Passengers , , , , ,625.5 Air cargo 000 tonnes Business development Sales revenues million Investments million Amortisations million Fixed assets million Balance sheet total million No. of employees Closing date ,922 1,829 1,803 1,769 1,829 Annual Report

11 The year at a glance January Air France back at Cologne / Bonn After more than ten years absence, Air France returned to Cologne Bonn Airport on 10 th January. Via its Paris hub and, together with its partner KLM, the airline offers access to more than 240 destinations worldwide. Up to three flights a day cover the Cologne/Bonn- Paris route. Air France back in Cologne / Bonn after ten years. February Paradise and Piano In the course of the year, a few special highlights for passengers and visitors have been introduced in the terminals. Since February, you can relax and enjoy a drink to the sounds of live piano music in the Rendezvous Piano Bar in Terminal 1. In April, the Haribo Shop opened its doors, a sure paradise for anyone with a sweet tooth. 12 Cologne Bonn Airport

12 Fine performance at the traditional Airport reception at the ITB. March Shopping spree at the ITB in Berlin At Cologne Bonn Airport s traditional reception at the ITB, the world s largest tourist trade fair, the Airport s shopping trolley was well stocked with expensive items. There were such delights as the ash cloud (loss: 3 million] and the FedEx cargo handling centre (investment: 140 million), but there were also some good bargains best-price tickets from Cologne / Bonn. The real stage checkout desk made reference to the new REWE supermarket in Terminal 1 and to the growing importance of non-aviation business. There was great applause for the performances of Airport Chief Executive Michael Garvens as the cashier and Marketing Manager Ulrich Stiller in the role of the customer; the numerous guests included the two Lord Mayors Jürgen Roters of Cologne and Jürgen Nimptsch of Bonn. Almost 170,000 visitors and 11,000 exhibitors came to the ITB (9 13 March). on liquids and Germany s decision to go it alone regarding air traffic taxes. He resolutely rejected the plans of the NRW Federal State Government to introduce a night flight ban for passenger aircraft. He countered by emphasising the importance of Cologne Bonn Airport as an economy factor and a mobility warrantor for NRW. Therefore, the dynamic development of the Airport must not be curbed by political decisions, was how he summed it up. Picketing against liberalisation With a 24-hour picket on 24 March, members of the staff council and the trade union ver.di protested together on the staff car park against further liberalisation of the ground handling services by the EU. On 6 April, members of the staff council participated in a conference of staff council members in Strasbourg. The topic of this conference organised by ver. di and a small working group of the staff councils at German commercial airports was liberalisation. EU Energy Commissioner Günther Oettinger, Dr. Angelica Schwall-Düren, NRW Minister for Europe, and Michael Garvens at the Parliamentary Evening. Invitation to a Parliamentary Evening On 15 March, the Airport hosted a Parliamentary Evening in the NRW State Representation in Brussels. The motto of the evening was Cologne Bonn Airport for NRW Naturally, and rightly so, very important. In his speech, Michael Garvens pointed out that the Airport operators are not always thrilled with the decisions made at a political level. The topics included the EU security regulations Annual Report

13 The year at a glance April Airport on Facebook The Facebook fan page of Cologne Bonn Airport went online in April. In the social network, friends and fans of the Airport are kept up to date on what s new at the Airport and can directly contact the Airport team. In April 2012, the page already had more than 7,000 fans. May Michael Garvens contract extended Michael Garvens stays for another five years as the head of the Airport Company. The Supervisory Board of Flughafen Köln Bonn GmbH extended the contract with the Chairman of the Management Board until early Airport figures back in the black The results were positive: And that despite the high losses due to the ash cloud and the early onset of winter, explained Airport Chief Executive Michael Garvens at the presentation of the balance-sheet for There is once again a plus in front of all the key figures on the balance sheet. So, after the last two not so good years, we have managed to make the turnaround and earn a profit. All in all, the Airport had a turnover of a total of 9.9 million passengers (+ 1 percent) and 656,000 tonnes cargo (+ 17 percent). Sales revenue increased by 6.1 percent to million. Turnaround achieved following two not so good years. The 50-millionth Germanwings passenger Even though it was Friday the 13 th May, this was indeed Stefanie Gora s lucky 14 Cologne Bonn Airport

14 day. She was the 50-millionth Germanwings passenger. As her prize, the head of Germanwings, Thomas Winkelmann handed over 50 air tickets, each worth 100. The first Germanwings aircraft took off from Cologne / Bonn on 27 October The fleet then comprised six aircraft; today, 16 aircraft are based in Cologne / Bonn alone. Germanwings is the market leader here. June Athanasios Titonis is the new Technical Managing Director At the beginning of June, Athanasios Titonis took up his position as the new Technical Managing Director of the Airport. Titonis has been working for the Airport Company since 2002 and was last responsible for the division Operations and Traffic. Michael Garvens and Thomas Winkelmann congratulate the jubilee passenger. Registration is the new central ID office The new central ID office Registration went into operation on 18 June. It is situated close to Gate A (Tor A) and replaces both the ID office in Terminal 1 and the Registration at Gate A. Registration is now the central contact point for employees, visitors and business partners who have to enter the security area. Photovoltaic supplies 2.3 million kilowatt hours electrical energy In June, two new photovoltaic systems, which generate between 400,000 and 500,000 kilowatt hours (kwh) of electrical energy yearly, were installed on the roofs of Hangar 2 and 3. All in all, the Airport now has five photovoltaic systems, which produce a total of 2.3 million kwh electrical energy per year. Thanks to solar energy, every year some 823,000 kg of the greenhouse gas CO2 can be saved at the Airport. Annual Report

15 The year at a glance July New and old sponsor of Viktoria Cologne In July, the Airport became the main and jersey sponsor for Viktoria Cologne. Since 1993, the Airport has had an intermittent partnership with this neighbouring NRW-league football team from the East Bank of the Rhine. Now, this affiliation and friendship goes into a new round. August now the time slot has been lengthened to the early morning hours between 6 a.m. and 8 a.m. For all Boeing 747 and MD11 aircraft, CDA is now the norm, irrespective of the time of day. September Again the largest single UPS investment outside USA The express cargo carrier UPS announced on 15 September that extension work for an equivalent of 145 million is to be carried out on its Rhineland-based European air hub. By the end of 2013, the CDA clearly reduces noise pollution The Airport makes every effort to reduce the noise level pollution experienced by the people living in the neighbourhood. Therefore, in August, the continuous descent approach (CDA), a particularly quiet approach procedure, was extended. This procedure had been in place since February 2009 between 10 p.m. and 6 a. m., and sorting capacity in the cargo and sorting centre shall be increased from 110,000 to 190,000 per hour. This is the largest single investment outside the USA in the history of UPS. UPS invests a further 145 million in the location Cologne/Bonn. 16 Cologne Bonn Airport UPS also celebrated its 25th anniversary in September. The beginnings in 1986 were very modest, with only 40 employees

16 and two aircraft landing every night at Cologne / Bonn. Today, with some 2,300 employees, UPS is the largest employer at Cologne Bonn Airport. German Aerospace Day On 18 September, almost 100,000 visitors came to the German Aerospace Day at the German Aerospace Centre (DLR) in Porz. Here, the DLR and its partners, the European Space Agency (ESA), the German Air Force and Cologne Bonn Airport, presented the latest aerospace research projects and research work in the fields of energy and traffic. Long queues of enthusiasts waited to see the Airbus A380 and SOFIA, the Stratospheric Observatory for Infrared Astronomy. This was the first visit of the flying observatory to Europe. The DLR showed its research fleet, and the armed forces presented the two government aircraft Airbus A340 to a large public. New General Aviation Terminal (GAT) for VIPs On 29 September, the new terminal for private and business pilots was opened. In the four-million euro terminal, the operation company Business Aviation Centre Cologne GmbH (BACC) will clear some 12,500 air passengers every year. These include international show stars such as Robbie Williams, Lady Gaga, the Rolling Stones, as well as celebrities from the world of politics, business and sport. SOFIA, the flying observatory. Annual Report

17 The year at a glance November A noticeably quieter cargo aircraft The maiden flight of the Boeing 747-8F on 17 November - the wide-mouthed cargo carrier of British Airways World Cargo - is not only noticeably quieter but, with a large load capacity, it also uses less kerosene than the Boeing F, which had been in service before. As Airport CEO Michael Garvens explained, With this flight, we sort of got two for the price of one: on the one hand because it is a daytime carrier and, on the other, as it is a state-of-the art and quiet aircraft. Wide-mouthed cargo carrier. Electric cars can be charged at the E-loading station Since November, drivers of electric cars are able to charge their vehicle at the Airport. On the upper deck of Car park 2, the TankE has gone into operation, run by the Cologne utility company Rhein- Energie. It is one of the first e-filling stations at a German airport. In April, the Airport s car pool also became the proud owner of its (first) e-car. 18 Cologne Bonn Airport

18 ADV Annual General Meeting The venue of the German Airports Association (ADV) annual general meeting was Cologne. The congress with some 80 participants, ranging from the managing directors of the airports and members of administrative boards to politicians and ministerial representatives, took place on the 17th and 18th November in the Hyatt Hotel, Cologne. On the second evening, Cologne Bonn Airport invited the participants to Butzweilerhof, Cologne s historic first airport. One of the speakers that evening was the NRW Minister of Transport, Harry K. Voigtsberger. In his speech, he admitted he is indeed for cargo night flights at Cologne Bonn Airport: The coalition agreement of the RedGreen Federal State Government guarantees that the night will remain open for cargo traffic. And let me say this quite clearly and unambiguously: That is how it will stay! December NRW Minister of Transport Harry K. Voigtsberger. Surfing free of charge in the Terminals Since the beginning of December, passengers and visitors to the Airport can use the Internet free of charge throughout the Terminals. WLAN is available round the clock, and can be used without any time restrictions or complicated registration procedures. At this point in time, Cologne Bonn Airport is the first German airport to offer its guests this extensive service free of charge. The service is available for all WLAN-compatible devices both in the public areas in the Terminals, at the gates and in the waiting zones behind the security check. Annual Report

19 Passenger destinations in 2012 Reykjavik Oslo Stockholm Edinburgh Westerland-Sylt Rostock Manchester Berlin Dublin East Midlands Leipzig-Halle Amsterdam London Dresden Cologne/Bonn Nuremberg Friedrichshafen Zurich Bern Vienna Klagenfurt Bologna Nice Marseilles Girona Palma de Majorca Rome Palermo Nador Las Palmas Tenerife South Arrecife Fuerteventura Boavista Sal 20 Casablanca Cologne Bonn Airport Tirana Brindisi Cagliari Enfidha Djerba Pristina Bari Naples Alghero Tangiers Funchal Sarajevo Dubrovnik Tunis Malaga Zadar Split Ibiza Lisbon Jerez de la Frontera Zagreb Pula Bastia Olbia Mahon Rijeka Pisa Calvi Budapest Verona Milan Treviso Barcelona Katowice Prague Munich Salzburg Paris Faro Gdansk Heringsdorf/ Usedom Hamburg Corfu Lamezia-Terme Catania S Malta

20 Moscow Kiev Bucharest Varna Kavala Burgas Istanbul Samsun Thessaloniki Ankara Athens Trabzon Kayseri Izmir Gaziantep Bodrum Mykonos Antalya Kos Santorini Rhodes Heraklion Adana Teheran Tel Aviv Sharm el Sheikh Hurghada Luxor Marsa Alam May 2012 Annual Report

21 Cargo destinations in 2012 Keflavik Helsinki Oslo Stockholm Malmö Edinburgh Belfast Moncton Chicago Louisville New York Moscow Shannon Dublin East Midlands Hamburg Berlin Cologne/ Bonn Leipzig Frankfurt London Philadelphia Tiflis Warsaw Katowice Prague Munich Vienna Zurich Basel Budapest Bergamo Geneva Timisoara Ljubljana Lyons Milan Venice Bordeaux Bucharest Zagreb Marseilles Sofia Paris Memphis Barcelona Porto Teheran Sharjah Dubai Rome Istanbul Valencia Madrid Lisbon Athens Casablanca Tel Aviv Cairo Johannesburg 22 Cologne Bonn Airport

22 Alma Ata Seoul Tokyo Shanghai Guangzhou Mumbai (Bombay) Shenzhen Taipei Hong Kong May 2012 Annual Report

23 Noise protection Noise protection an ongoing commitment In the past few months, aircraft noise has been reason for increased resentment in Germany with demonstrations at Frankfurt, Berlin and other airports. In many cases, this issue of aircraft noise was coupled with extensions to the airport infrastructure. However, in March 2012, there were also protests again aircraft noise at Cologne Bonn Airport. Therefore, now more than ever, we recognize our commitment and will not cease in our efforts to find a balance between the economic interests of the Airport and the neighbours need to be protected from aircraft noise. The aircraft noise opponents allegation that Cologne Bonn Airport has become louder in the last few years is, however, wrong. In this time, not only has the noise volume been reduced, but also the peak levels of noise. Every five years, the Airport has to prove to the NRW Ministry of Transport that, in comparison to 1997, it is quieter around the Airport. The specified noise limit stipu- 24 Köln Bonn Airport lated in the night flight regulation for Cologne / Bonn may not be exceeded. To date, we have always been able to keep the noise level down and fulfil this condition. What s more, comparing the number of night flights in 2001 to that of 2011, there is again a reduction. In 2001, there were 38,936 aircraft movements during the night, in comparison to 34,051 in The years 1997 and 2000 both recorded more than 40,000 night flights. The noise protection community repeatedly argues that several hundred thousand people in the vicinity of Cologne / Bonn are affected by aircraft noise. The reality is, however, quite different. According to the NRW Ministry of Environment, in the City of Cologne, approx. 4,300 people are affected by a continuous sound level of more than 55 db(a). Just for the sake of comparison: the stress through road traffic is almost 30 times higher, as this affects 134,000 people. Noise pollution through

24 rail traffic is 13 times higher in comparison to air traffic. The Federal Environmental Agency also published figures which show that the noise protection community, with their repeated claim to 400,000 affected persons, is way off the mark. According to the Federal Environmental Agency, 10,700 people living in Cologne and in the neighbouring towns such as Lohmar, Rösrath or Siegburg are affected by 55 db(a) and more. In this context, it is interesting to note the results of a representative survey carried out by the research group Forschungsgruppe Wahlen. In August 2011, the Federal Association of the German Air Transport Industry (BDL) commissioned a study: What do the Germans think of aviation?. One point of focus of the survey was the topic Aircraft Noise. According to this study, some four percent of the German population feel they are greatly to very greatly disturbed by aircraft noise. This value drops to three percent if the interviewees do not live near an airport, and in the neighbourhood of major airports, the figure rises to eight percent. Passive noise protection for more than 20 years Nevertheless, protecting the neighbours from noise is still top priority for Cologne Bonn Airport. The various measures are continually reviewed and improved. For more than 20 years now, we have had a passive noise protection programme. For this purpose, Cologne Bonn Airport makes available a total of The MD 11 should be replaced by the quieter Boeing 777. Annual Report

25 Noise protection 85 million. The night noise protection zone, in which noise peaks of 75 decibels are reached at least six times per night, covers an area of 90 square kilometres with some 900 streets and 19,500 buildings. Applications can be made for funding noise-insulating windows and air vents. To date, some 24,000 residential units have been insulated. Although only a few months ago the legislator resolved that, from now on, the Regional Administration of Cologne shall be responsible for the application for the reimbursement of expenditure for noise protection measures, Köln / Bonn Airport GmbH has nevertheless decided to fulfil the statutory requirements on the basis of a voluntary programme. A decisive factor here was the fact that the statutory regulation would only allow a reimbursement for most applicants after , i. e. with several years delay. Nor does the legislator plan to provide expert support for the noise protection measures to be carried out. Since the Airport Company employs experts in the field of passive noise protection, we would, within the scope of the voluntary programme, like to continue to offer this service, which to date has always been carried out to the satisfaction of the applicants. Boeing 777 engine. Relief for the neighbours of the Airport is also provided by a whole series of active noise protection measures. At Cologne Bonn Airport, there is a clear night flight regulation according to which aircraft may take off or land between 2200 hours and 0600 hours but not everywhere. In two take-off and landing areas of the three runways, there is a complete night ban for take-off and landing. This protects areas in the direct vicinity of the Airport. The exact observation of take-off and landing routes is also very important for reducing aircraft noise. Since 1999, the aircraft fly using the NESS system. The aircraft s flight management system (FMS) ensures that the flight routes which cause the lowest noise pollution are largely automatically engaged. After months of consultations, the Noise Protection Commission agreed on the appropriate routes. Noise surcharges in the night In March 2009, the Airport revised its scale of charges. The aircraft are divided into seven noise classes, and the noise surcharges graduated, with loud aircraft paying more. The charges are calculated on the basis of the take-off noise levels measured at the monitoring station point 6 in Lohmar. Noise surcharges are twice as high for night flights as for takeoffs and landings during the day. Since spring 2009, the nitrogen oxide emission has also been included in the calculation of the charges. The new charge model 26 Köln Bonn Airport

26 Aircraft noise is measured precisely with a measuring vehicle, two mobile and fourteen fixed monitoring stations. now takes a more accurate account of environmental criteria than before. Cologne Bonn Airport sees another effective relief in the reduction of the maximum level. The MD 11 used by FedEx and UPS is currently the loudest aircraft at Cologne/Bonn. An alternative is the modern Boeing 777 (Triple Seven), which is noticeably quieter both at take-off and landing. To encourage the changeover, the Airport wants to provide the airlines with incentives. Mid-2012, the scale of charges will be reviewed to provide discount for the Triple Seven over a period of three years. An airline using such an aircraft would save more then 500,000 per aircraft in the first year. Within the three years, the saving would amount to almost one million euros. The calculation is based on the assumption of the aircraft circuiting six times a week. However, this model still has to be approved by the NRW State Government. (Status: March 2012). The maximum noise level sinks In February 2009, the Continuous Descent Approach (CDA) was introduced at Cologne / Bonn. This new approach procedure, which has absolutely proved its worth, clearly reduces the noise level in the vicinity of the Airport. With the CDA, the aircraft stay longer at a high altitude. From a distance of about 46 kilometres from the Airport, the aircraft continually descend with greatly reduced engine power. In comparison to the traditional approach practice, this avoids relatively loud horizontal flight phases. At a distance between 20 and 50 kilometres, the maximum noise level on the ground drops by four to six decibels. The continuous descent approach is compulsory for night Annual Report

27 Noise protection flights at Cologne / Bonn. During the day, almost every third aircraft uses CDA. Cologne Bonn Airport was the first airport in North Rhine-Westphalia to introduce the CDA procedure for night flights. Transparency also a major topic On its website, Cologne Bonn Airport provides extensive information and material on aircraft noise in and around the Airport. This includes the distribution of flights on to the various takeoff routes, the continuous noise level at the 17 monitoring stations around the Airport, the number of flights at night and during the day or reference excessive noise levels etc. The website reader can access both current and older figures. Since the end of October 2008, you can see live in the internet from which direction the aircraft are landing and in which direction they are taking off. With the online service showing the respective operation direction, the Airport increases transparency and responds to a requirement imposed by the State Ministry of Transport for the extension of the night flight regulation in February Alongside the Internet, Cologne Bonn Airport also uses a monthly newsletter to publish the latest findings and knowledge on the subject of noise. Lower charges for using Boeing 777. Night flights safeguard jobs The NRW Minister of Transport of that time, Oliver Wittke (CDU), prematurely extended the night flight regulation at Cologne Bonn Airport until This provided the business enterprises at Cologne / Bonn with the security they require for planning and investments. FedEx invested in its new cargo centre, where since 2010 goods for Central and Eastern Europe have been transhipped. In 2011, UPS announced the investment of some 145 million in the extension of its cargo centre at Cologne/Bonn. The 28 Köln Bonn Airport

28 extended night flight regulation not only secures the economic future of Cologne Bonn Airport, but also safeguards thousands of jobs. The night flight ban for Frankfurt imposed by the Hesse Administrative Court in Kassel in autumn 2011 was a serious and most undesirable develop ment for Germany as an aviation location. Courts and political decisions are excluding more and more airports from night flights, so that the night flights are being concentrated on fewer and fewer airports. The call for a general night flight ban does not correspond to the concept of Germany as an economic location. It is unacceptable that flows of goods literally fly past Germany because there are no airports where the cargo can be transhipped at night. Germany still ranks number three in the world among the export nations. Some 3 percent of the goods are transported worldwide by air. This 3 percent is equivalent to 40 percent of the value of the worldwide movement of goods. A large percentage of these goods are timesensitive, and for these goods, nightoperating airports are essential worldwide and in Germany. b Annual Report

29 Low-Cost Ten years low cost in Cologne/Bonn Ten years ago, Cologne Bonn Airport was the first major airport in Germany to venture into a new traffic segment. Some call it low cost, others no-frills flying. In any case, the business model had become established in the United States a few years before. Thanks to low cost, the Airport was able to overcome the worst crisis in its history. Just as a reminder: the passenger figures at Cologne Bonn Airport were on the decline. In 2000, the passenger volume amounted to 6.4 million; in 2002, it was only 5.47 million. Even if international aviation in general had to deal with the consequences of the terrorist attacks of September 11, 2001 and was struggling with enormous overall economic problems, at no other German airport was the downturn so noticeable. After the turn of the millennium, Cologne Bonn Airport was at an all-time low. While the cargo sector developed positively, the passenger traffic suffered greatly under the negative economic climate. The consolidations among the airlines that followed this had a particularly hard impact on Cologne / Bonn. The excellent infrastructure with the newly completed Terminal 2, the new car parks and the excellent runway system was partly lying idle. Turnaround with low cost After Michael Garvens took up his position at Cologne Bonn Airport in February 2002, he initiated the turnaround with the lowcost model. Initially, he had to face a lot of criticism; many of the critics thought low cost was just a bubble with limited prospects. Two new airlines Germanwings 30 Köln Bonn Airport

30 and Hapag-Lloyd-Express (HLX) were launched on the market, and with these, he drew up a partnership with Cologne Bonn Airport. Both set up their main base here. The first Germanwings aircraft took off on 27 October, HLX followed a few weeks later. Only one year later, with 7.84 million passengers, Cologne / Bonn was the fastest growing airport in Europe. With this strategic realignment, it became the number one in low-cost flights and that not only in Germany, but also in Continental Europe. Only London-Stansted had more passengers taking off and landing. After only five years low cost, Cologne / Bonn had almost doubled its passenger volume to 10.4 million. What worked so well in Cologne / Bonn was soon copied at other German airports. After 2002, the low-cost business spread nationwide, the growth on the German market until 2007 was faster than anywhere else. Every year, some 100 new routes were included in the flight schedules. The market share in total passenger volume throughout Germany was more than 25 percent. Every year, around 23 million travellers used the aircraft of the 30 low cost airlines. The record level was reached in Air traffic tax damages low cost After the first five boom years, the growth rates in low-cost traffic levelled off. There were several reasons for this: the initial boom tailed off, and then the economic and financial crises of 2008 and 2009 obviously led to a lower demand. However, the low-cost segment tended to be not so badly hit, since during the crisis, business customers were glad to make use of the budget offers. Another factor that complicated matters was the introduction of the air traffic tax by the Federal Government in 2011, which put a damper on any further positive development. The effect on Airports close to the borders, like Cologne / Bonn, with a high percentage of low-cost traffic, was pretty drastic. The more expensive tickets drove the priceconscious customers away to Maastricht and Eindhoven in the Netherlands or to Luxembourg. These airports enjoyed a powerful growth. A study published by the Federal Association of the German Air Transport Industry (BDL) talks of a drop in passengers in Germany amounting to five million due to the tax. Price war in Düsseldorf The air traffic tax was not the only reason for the drop in demand at Cologne/ Bonn. In Düsseldorf, Lufthansa and Air Berlin were involved in a battle for the market leadership. On the one hand, there was an approach to the low-cost model, with the network carrier Lufthansa increasingly offering special-price tickets in Düsseldorf. On the other hand, the consolidation measures of Air Berlin called for cutbacks of their capacities at airports such as Cologne / Bonn, in favour of their hubs in Berlin and Düsseldorf. Comparing 2009 with 2011, the Annual Report

31 Low-Cost 32 Köln Bonn Airport

32 capacities at Cologne / Bonn were reduced by almost a third. And no matter, low cost in Cologne/Bonn is still on the road to success. In May 2011 at Cologne Bonn Airport, Germanwings welcomed the airline s 50-millionth passenger. Many of these Germanwings passengers flew out of or into Cologne / Bonn. This Lufthansa subsidiary based in Cologne is today the third largest lowcost airline in Europe, after Ryanair and EasyJet. 16 aircraft of their 30-strong fleet are stationed in Cologne / Bonn. Alongside Germanwings, other low-cost airlines, such as Air Berlin, EasyJet, Norwegian, Air Maroc, Wizz Air, and as of May 2012 also Ryanair, fly into Cologne Bonn Airport, which after Berlin-Tegel continues to be the second largest lowcost airport in Germany. The fact that the network carriers are integrating the low-cost model more and more into their business programme underlines this success. The low price, the general availability and online ticket reservation in the Internet have dramatically changed the air traffic landscape. Air travel affordable for all More than ten years ago, flying was still expensive; nowadays, everyone has the possibility of getting to know cities and holiday regions at a price he or she can afford. Thanks to low cost, city breaks have experienced an absolute boom. And even business travellers have discovered the plus side of low cost. Every third passenger in Germany is a low-cost flyer. On domestic flights, even more than 40 percent meanwhile use the low-cost offers. The Cologne Bonn Airport summer timetable has 75 low-cost destinations. However, it is not only with regard to traffic figures that Cologne Bonn Airport is successful with low cost. This model has created and safeguarded many new jobs. At the same time, since 2002, the non-aviation area has almost trebled from 3,500 m² to approx. 10,000 m². The sales turnover in the shops, restaurants etc. has since doubled to more than 80 million. Today, passengers and visitors have excellent opportunities of shopping in 33 stores and eating and drinking in 20 restaurants and bars. b Annual Report

33 Beauty treatment Beauty treatment for the Airport Cologne Bonn Airport is a port of call for almost 14 million visitors. Every year, some 10 million passengers, a good 2.1 million meeters and greeters, 940,000 persons accompanying people to their flights go in and out of the Airport. Plus we have about 600,000 mere visitors, who for instance want to go shopping, take advantage of the wide range of restaurants, bistros etc. or watch the air traffic from the observation deck. First impressions are always important, and here it is no different: the impression the Airport terminals and infrastructure have on these visitors will shape their overall image of the Airport. A clear overview, user-friendliness, consistency in sign-posting, and an attractive appearance with a lively gastro and shopping world give the visitors a feeling that they are in good hands and therefore play an important part in forming a special affinity with the Airport. In the past few years, investments amounting to millions have been made in Terminal 1, including the Starwalk in 2004, the extension of the security control points in 2008 and the new arrival area in A further important step followed at the beginning of A joint product campaign was started up together by the Board of Management and the Marketing Department, a campaign which has since been dealing very intensely with the optimisation of the Airport as a product. This entails making major improvements, but also not forgetting the 34 Köln Bonn Airport

34 smaller ones. The individual measures range from construction measures and renovation work to staff training sessions to raise the employees awareness for this topic. Many business units are involved in the campaign, in particular the Technical Division., the Real Estate Division, but also Operations and Traffic, IT and Airport Security. Well-balanced overall impression The aim of the product campaign is to improve the overall impression of the Airport. The visitors should feel comfortable at the Airport, they should be able to find their way around easily, and they should always look forward to coming back. What plays a key role here is the unmistakable corporate design by the Swiss designer Ruedi Baur, which has been in place at Cologne Bonn Airport since May In future, these typical characteristics the pictograms and silhouettes, the Airport colours and the special typeface should be used on a more consistent basis, for instance for construction and information signs or in the design of clocks or seating in the Terminals. This familiar design is a means of identification. It makes the Airport stand out from its competitors and, at the same time, serves as a useful orientation guide for passengers and visitors. Structural changes In the course of the make-over of the Airport, various structural defects will Annual Report

35 Beauty treatment Also the old lift cores will get a facelift. be remedied. For instance, in 2011, the approach to the terminals took on a new design, with the red and white lane separators being replaced by green and white markings. The most important project for the coming months is the step-by-step renovation of the somewhat outdated lift core in Terminal 1. Palecoloured walls and metal panelling in grey-black will provide an elegant contrast, and accentuations in the bright Airport green will bring a visual breath of fresh air. Better atmosphere o make waiting more pleasant for the air travellers, we have introduced a whole series of various new amenities. For instance, early 2012, the Smokers Lounge opened in Terminal 1, where passengers may smoke once they have passed through security control. Again in the security area of Terminal 1, there is a brightly coloured play area for children with climbing frames Terminal 3. If you come to the Airport by an electric car, you can charge it at the electric filling station 36 Köln Bonn Airport

36 on the deck of Car park 2. TankE opened in November Private and business aircraft are now cleared in the new General Aviation Terminal (GAT). The elegant new building opened in September 2011 and has comfortable waiting lounges, plus facilities for meetings and conferences. To increase the appeal of the Airport for day-trippers (e.g. families or plane-spotters), the observation deck will also be made more attractive and possibly extended. Since the end of 2011, the spectators have an unobstructed view of the aprons from the gallery with ideal conditions for aircraft photography. New shopping and catering offers The shopping concourse and food & drink boulevard also have something new on offer. The Rendezvous Piano Bar opened in Terminal 1 in February; here you can relax and enjoy a drink to the sounds of live piano music. Since December 2011, there has been an open invitation to watch the Great view of the aprons and the main runway from the observation deck gallery. bakers at work in Kamps Bakehouse. At the beginning of 2012, the cult Italian restaurant 4 Cani opened its doors in Terminal 2, serving Italian specialities. The Haribo Shop, which opened in April 2011 in Terminal 1, is a sure paradise for anyone with a sweet tooth, offering 40 different kinds of wine gums and liquorice. Annual Report

37 Beauty treatment with its own profile. The most important contents can also be used on a smartphone via the Cologne Bonn Airport App. Since April 2011, the Airport online presence has been supplemented by our own Facebook fan page. Such social media platforms are becoming more and more a standard public relations tool for large enterprises. They offer the possibility of communicating a certain brand profile and generating a loyal fan community for the company. They also enable direct communication and an exchange between the Company and its fans. Here, comments, wishes, suggestions and criticism can be posted. Within one year, the Airport Facebook page already had more than 7,000 fans and still rising. Internet and social media How the Airport presents itself in the Internet is for many people the Company s initial visiting card. The website was relaunched in early 2012 with an average now of 300,000 users every month. The new site has a modern design and is clearly structured; information on all important topics about the Airport is available fast and uncomplicated. By combining the typical Airport design with a modern app look, the Airport comes over as a modern, appealing enterprise In December 2011, Cologne Bonn Airport was one of the first German airports to introduce a free and unlimited WLAN service for its visitors. WLAN is available round the clock everywhere in the terminals, and can be used without any complicated registration procedures. b 38 Köln Bonn Airport

38 Annual Report

39 Professions Surprising professions Flughafen Köln/ Bonn GmbH is the second largest employer at the Airport, behind UPS. For more than 60 years now, the Company has been a reliable employer and an important job driver for the region. What started out in 1950 with a work- force of some 50 people developed quickly and continuously to a business enterprise with several hundred employees. By 1970, the Airport Company already had 524 employees; just before the end of the 1980s, the 1,000 mark was hit, and come 1996, there were almost 1,500 employees. Today, 1,811 people work for the Airport Company in some 50 professions: from water protection officer to fireman (as at ). 87 percent of the employees are male, 13 percent female. 90 percent of the employees work full-time, approx. 8 percent part-time. Untypical job descriptions Alongside the classical airport jobs, such as aircraft marshallers, apron controllers, service personnel in the terminals or aircraft loaders on the apron, in the cargo halls or at the baggage sorting systems, there are many job descriptions at the Airport that are (seeming- 40 Köln Bonn Airport

40 ly) untypical for air traffic and therefore quite surprising. From hunter through carpenter to IT expert, from lawyer through controller, business economist and graphic designer, marketing expert and journalist to gardener all these diverse professions are needed at the Airport. And it is exactly this variety that is a prerequisite and at the same time a guarantee that such a complex enterprise like Flughafen Köln / Bonn GmbH can indeed work at all. Department. The Airport Fire Brigade is the third largest business unit with 140 employees. The Airport Administration comprises coworkers (a total of 400) from various divisions and departments. This includes The division with the most personnel is Operations and Traffic (BL). 851 employees in various departments ensure that the aircraft are cleared in good time, passengers, luggage and cargo reach where they have to go, and that everything runs smoothly on the aprons and in the terminals. The departments Planning Operations, Staff Training and the Vehicle and Equipment Pool also report to BL. With 268 employees, the Technology Division (TL) is number two size-wise. This division includes various workshops: Electrical Systems, Telecommunication, Supply Engineering and Conveyor Systems with their master craftsmen and tradesmen, as well as the Facility Management and the Vehicle and Equipment Technology The bird controller scares away birds to ensure air traffic safety. Annual Report

41 Professions for instance the divisions Personnel & Legal Affairs, Marketing & Sales, Corporate Communications, Finance, Controlling / Logistics, Information & Communication Technologies, and Expansion / Planning. Her work in the apron turret is a job we immediately connect with the Airport. 42 Köln Bonn Airport Co-workers from more than 30 nations Just as varied as the fields of duty and activity at the Airport, so too are the co-workers who give their utmost 24 / 7 and, with this commitment, play an important part in the success of the Company. Our employees come from more than 30 nations throughout Europe and worldwide. The percentage of non-german employees is approximately 17 percent. These colleagues come from neighbouring countries, such as France, Belgium or the Netherlands, but also from Bulgaria, Israel, Iran, Afghanistan, Chad or Syria, Australia, USA, Congo or Togo, to mention

42 only a few. Almost 200 (11 percent) staff members come from Turkey, making this the second largest group after the German nationals, followed by Italian (20) and Greek (18) employees. Vocational training plays a very important role at Cologne Bonn Airport. Every year in late summer, young people start out on their professional career at Flughafen Köln / Bonn GmbH. The training positions offered range from the classical job description of the office manager through the security services expert to the plant mechanic. Cologne Bonn Airport also offers four different dual courses of studies in cooperation with the Universities of Applied Sciences in Mannheim, Frankfurt and Bochum. This model allows the young people to complete a bachelor degree in Air Traffic Management, Real Estate Management, Accounting and Controlling or Business Information Systems within three years. Thanks to this dual training - practical at the Airport and academic at university, they are more than well prepared for a future in the air traffic industry. b Young people are trained in different trades and professions. Annual Report

43 Management Report of Flughafen Köln / Bonn GmbH Macroeconomic Environment and Situation in the Industry Germany's economic upswing continued in 2011, although the economy slowed down in the fourth quarter, which however did not affect the construction industry, which reported 6.5 % higher private and business capital investments compared with the prior year. The calendar-adjusted gross domestic product increased by 3.1 % in the course of the year. Additional growth is expected for 2012 though not as high as in the two previous years. The number of people in work in Germany increased by 560,000 people to 41.6 million. Measured in traffic units, the growth rate in national air traffic increased by 5.0 % (prior year: 7.4 %). Additional but lower growth between 1.5 % and 2 % is also expected for Traffic development The traffic development of Cologne / Bonn Airport was positive overall, but varied between the different traffic segments. Accordingly, the passenger traffic segment reported slightly declining growth of 2.3 % (German average: growth of 4.8 %) given 9.6 million passengers. This decline was, however, far offset by growth of 13.1 % in the cargo segment (cargo volume of 742,347 tons), while the German average growth was 4.7 %. In the aggregate, the traffic units increased by 3.8 % and did not achieve the German average of 5.0 %. The number of aircraft movements fell by 2.5 % (German average: increase of 2.8 %). 44 Cologne Bonn Airport

44 The Maximum Take Off Weight, however, increased by 3 %. Consequently, the Cologne / Bonn Airport ranks fifth among the German commercial airports. The low-cost proportion to the total passenger volume accounted for 70 % (prior year: 64 %). In the liberalised ground services market, the Airport holds 75.4 % of the market shares (previous year: 87 %). Results of Operations Sales amount to EUR million (up by 0.5 %), of which 65.5 % relate to airport tax and ground handling services, 31.0 % to rental, leaseholds and supply services, and 3.5 % to other revenues. The cost of materials reduced by 9.4 % to EUR 84.3 million (prior year: EUR 93.1 million) as large repairs carried out in the prior year were not necessary in the reporting period. In contrast, the personnel expenses slightly increased by 0.5 % to EUR million (prior year: EUR 99.7 million). of 31 December 2011, representing an increase of 19 employees. Presentation of Assets and Financial Situation The Company's capital investments in 2011 amounted to EUR 25.2 million and major capital investments (EUR 12.1 million) included the photovoltaic facilities, the central registration station, aircraft parking areas and giant equipment. Additional capital was spent on operating facilities, vehicles and tools, software and operating and office equipment. The liabilities to banks and other lenders amounted to EUR million and EUR 22.5 million, respectively, as at the reporting date. All loans were duly repaid. Sufficient liquidity was available to the Company at all times. The Company repaid EUR 15.7 million of the long-term loans. Flughafen Köln / Bonn GmbH has not carried out derivative or other hedging transactions. Operating expenses grew by 8.8 % and amount to EUR 26.0 million. The increase of EUR 2.1 million only results from the inventory count of fixed assets performed in Given slightly higher pre-tax profits, the tax expenses increased. On the one hand, this is due to an extraordinary result of EUR 11.6 million, which was recognised in the prior year following the conversion to BilMoG-accounting rules. On the other hand, the municipal trade tax multiplier for Cologne has been increased from 450 % to 475 % since This led to EUR 2.0 million higher taxes. Consequently, the net income for the financial year declined from EUR 15.0 million to EUR 10.0 million. The number of employees (including management and apprentices) was 1,829 as Annual Report

45 Management Report of Flughafen Köln / Bonn GmbH From a current perspective, liquidity is ensured at all times also in future. The Company does not expect any major loss of receivables. The cash flow from current business activities amounted to EUR 40.8 million. The equity ratio increased by 1.6 percentage points compared with the prior year and accounts for 33.5 %. Risks and Opportunities For some years now, the Company has had a risk management system in place. Each member of staff is obliged to report any identified risks. Irrespective of this, the Company carries out risk inventory reviews twice a year. Major risks have to be reported immediately to the Risk Management Officer, who forwards them directly to the Management Board. Following the risk inventory reviews, the Risk Committee meets to re-evaluate the reported risks and delegate the supervision of the same to the persons responsible. The federal state government of North Rhine-Westphalia (NRW) plans to impose a ban on night flights between midnight and five a. m. for passenger flights. There had been talks on this subject matter between the responsible ministry of the Federal State (NRW) and Flughafen Köln / Bonn GmbH. However, administrative procedures have not yet been instituted. The hearing of airlines and organisations has been completed in the meantime. The aviation industry unanimously rejects the request of the ministry of the Federal State. The Federal Ministry of Transport, Building and Urban Development as represented by the Federal Minister of Transport, which must give its approval to this ban, also rejects those plans of the Federal Ministry of the Federal State. The introduction of the ban on night flights would result in a sales loss of about EUR 10 million. Flughafen Köln / Bonn GmbH expects that the operating license extended in 2008 by the Federal State Ministry will still be valid until Accordingly, the 24-hour operations will be carried out in full scope and ensures complete competitiveness of the exportoriented German economy. The existing operating license until 2030 provides for planning and investing security for both the Company and airport users. As expected, the introduction of the air travel tax has led to a lower number of passengers and substantial growth rates at near airports in adjacent foreign countries. The consolidation in the low-cost carrier segment also had an adverse effect. For 2012, the Company expects a stable number of passengers. A further risk arises from stricter authorisation procedures. Communities of interests are permanently taking legal action against the Airport Company because of both investments and operating licences. Fortunately, no complaints have been successful so far. There are currently no risks threatening the continued existence of the Company. The comfortable three-runway system together with the intercontinental runway 46 Cologne Bonn Airport

46 as well as the provision of numerous terminals and cargo halls provide for additional increase in air traffic movements. The existing motorway and railway networks back up this development. The extremely favourable climatic conditions are another positive aspect, since the airport is located in a hardly fogbound region which is rarely affected by snow falls. These climatic conditions are especially favourable for the cargo traffic, but also the passenger traffic, and primarily promote services and the production industry. Following intense ongoing acquisition measures, the cargo segment will also be the growth driver in The Company puts great efforts into the preservation and expansion of routes for passenger traffic. The strict enhancement of the shop and restaurant area also contributes to profitable results. Annual Report

47 Management Report of Flughafen Köln / Bonn GmbH Non-financial Performance Indicators Personnel The agreed wages in 2011 increased as follows: by 0.6 % as of 1 January 2011 and by 0.5 % as at 1 August The employees also received a share-based payment of EUR for the year Additionally, FKB granted the agreed variable pay (performance-based payment) in the amount of 1.5 % of the permanent monthly remuneration of the prior year. The WeGebAU scheme supported by the Federal Employment Agency, which was initiated in autumn 2010, was also continued in As part of this scheme, FKB trained about 230 employees in MS Office and English as a foreign language. This training programme will end in the first half of FKB also spent around EUR 700,000 on external training and further education, of which more than half was dedicated to further education programmes for the airport fire brigade. A substantial amount was also spent on information technology, as, here, employee training is particularly required due to the rapidly changing technological development. FKB employed 53 apprentices in apprentices successfully passed the 2011 exam and 13 started their apprenticeship in August 2011 at FKB. In 2011, the works council and FKB have agreed to an introduction of employee lifetime accounts. The aim is to facilitate early retirement for the employees. In this way, FKB and the employees can address the challenges of demographic development. As part of the employee lifetime account scheme, the employees have the opportunity to collect time credits and certain remuneration elements into an account and exchange their time credits collected onto their accounts for paid leave prior to retirement. 48 Cologne Bonn Airport

48 Environment Cologne / Bonn Airport considers the reduction in noise pollution for its neighbours to be one of its most urgent responsibilities. Despite numerous prejudices, the noise level has not increased during the past ten years. The noise has rather declined as regards both frequency and peak levels. Every five years, the Cologne / Bonn Airport is required to provide evidence to the Ministry of Transport of the Land North Rhine-Westphalia that the noise level has decreased compared with 1997 as specified in the applicable night flight regulation. While in 2001, 38,936 aircraft movements had been counted during the night, only 34,051 movements were reported ten years later. In 1997 and 2000 there had been even more than 40,000 flights. The passive noise protection programme, which costs FKB about EUR 85 million, has been an important pillar of the noise reduction efforts for numerous years. So far, about 24,000 residential units have been provided with sound proof windows. At the end of 2011, the programme was replaced with a legal noise protection scheme. Consequently, the Cologne district government now is responsible for the scheme. However, Flughafen Köln / Bonn GmbH is still responsible for financing the noise protection measures. the Boeing 777, which produces far less noise. To enhance this process, the Cologne / Bonn Airport will introduce considerable rebates for B 777 aircrafts, which will be a significant incentive for airlines to use this type of aircraft. A B 777, which lands six times a week in Cologne / Bonn, would save about EUR 1 million over a period of three years. The initiative, which was developed at the beginning of 2012, must still be approved by the Ministry of Transport of North Rhine-Westphalia (March 2012). For years, Cologne / Bonn Airport has undertaken numerous measures to reconcile air traffic and environment protection. Two years ago, the Airport started its climate protection strategy under which the reduction of the carbon dioxide emissions has become an essential corporate target. The Climate Protection Strategy focuses on the own commitment to generating only carbon-neutral growth in future. By 2020, emissions shall remain constant on the basis of the level reached in To achieve this target, The passive noise protection programme is part of an extensive noise protection concept, which also comprises several active components. As such, the Continuous Descent Approach (CDA) was introduced. This is a landing approach that considerably reduces the noise level within the airport vicinity. Furthermore, high additional fees are imposed on starts and landings during the night. The Airport demands the airlines to replace loud aircrafts with less noisy aircrafts. The MD11, which currently produces most noise at the Cologne / Bonn Airport, is planned to be replaced with Annual Report

49 Management Report of Flughafen Köln / Bonn GmbH the airport focuses on innovative technologies, which have been used for several years now. It started with a district heating plant in 1999, which does not only generate electricity by contrast to original heating plants but also uses the resulting waste heat for power generation. Following the installation of large photovoltaic facilities on the three roofs of the cargo centres of FedEx, UPS and the Cologne Bonn Cargo Centre, two further solar systems were installed on the roofs of hangars 2 and 3 in summer They generate between 400,000 and 500,000 kilowatt hours p. a. In the aggregate, the five photovoltaic facilities produce electricity of about 2.3 million kilowatt hours p. a. corresponding to the annual demand for electricity from 650 households. Thanks to the solar electricity, carbon dioxide emissions are cut by about 823,000 kg at the Cologne / Bonn Airport each year. So far, FKB has spent nearly EUR 11 million on sustainable land protection projects concerning the region Wahner Heide. Under the preservation concept developed in cooperation with the responsible authorities in 1997, the Airport is committed to providing for comprehensive ecological balance in return for the operating areas on its land. Four large landscape preservation projects are currently carried out. In the Nordheide region which is called "Geisterbusch", the landscape protection group "Arbeitsgemeinschaft Landschaftspflege mit alten Nutztierrassen" (ALAN) has been reconstituting the typical heath vegetation with its domestic animals such as cows, goats, and sheep as well as donkeys and water buffalos on behalf of FKB and, thus, ensures preservation of the characteristics of the unique cultural landscape of Wahner Heide. The Airport is working on around 700 hectares of land overall as a part of the balancing and compensation project, which has been agreed upon by contract over several decades. Outlook and Post-balance-sheet Date Events The Company expects stagnating passenger numbers and ongoing cargo growth of about 7 % for The net income for the following year is forecasted at EUR 8.1 million. In 2012, growth and earnings in the cargo segment will be driven by our customer FedEx, which started operations of its new cargo and sorting hall just two years ago, and by the long-term cargo customer UPS, which will extend its sorting hall. The General Cargo" segment will also be a growth driver in 2012 again. Results in the passenger segment will approximate 2011 results. To accommodate the increasing traffic figures, the Company will again make additional capital investments amounting to EUR 45 million in 2012, thus providing required capacities. In this context, special mention must be made of the new construction of the central control station for both passengers and cargo. Primarily on account of stricter legislation, the capacities of the existing control station have become insufficient in the light of the ongoing cargo growth. In the financial year 2012, the Cologne / Bonn Airport will start operations of the car parks. Apart from the takeover of personnel from the previous third-party operator, the entire outdated IT system will be replaced with a cutting-edge system. A large amount of capital is also spent on the renewal of other IT systems. The 50 Cologne Bonn Airport

50 most significant measure to be taken as part of the renewal of IT systems affects the modernisation of the Company's security systems. To be able to permanently provide highperformance infrastructure, the Company will take certain renewal measures concerning the present infrastructure such as renewal of the data networks and baggage reclaim systems at Terminal 1. The financing costs incurred as a result of the investments made and of those still in planning as well as depreciation and maintenance expenses have been taken sufficiently into account in the mediumterm profit planning and budget. No other events of particular significance occurred after the balance sheet date of the financial year The forecasts for the year 2012 are as encouraging as in The Company expects a further growth in air traffic movements and in results. Cologne / Germany, 22 March 2012 Flughafen Köln / Bonn Gesellschaft mit beschränkter Haftung signed: Michael Garvens (Chairman of the Management Board) signed: Athanasios Titonis (Technical Management Board) Annual Report

51 Notes to the Financial Statements for the Financial Year 2011 A. General Disclosures (1) Preliminary remarks The annual financial statements on hand have been prepared in accordance with the German Commercial Code (HGB) for corporations as well as the regulations under the German Law on Limited Liability Companies (GmbHG). The Company is a large firm organised in a corporate form as defined under 267 (3) German Commercial Code (HGB). The required disclosures which can be optionally provided either in the balance sheet or income statement or in the notes to the financial statements are fully stated in the notes to the financial statements. These disclosures also include the information to be provided according to 268 (4) and (5) German Commercial Code (HGB). (2) Accounting and valuation rules We have valued assets and liabilities by appropriate application of the valuation methods and regulations under German commercial law and in compliance with the generally accepted accounting principles. The intangible fixed assets have been valued at acquisition cost, and the tangible fixed assets at acquisition or production cost. Own work capitalised includes direct labour and material cost as well as appropriate overheads. Amortisation and depreciation is carried out on the basis of the assets' expected useful life. The intangible fixed assets and tangible fixed assets were amortised and depreciated, respectively, on a straight-line basis. The useful life of fixed assets running three-shift operation is principally estimated to be shorter. In detail, the useful life of buildings is 25 to 50 years. The flight operations area is depreciated over 15 to 30 years, the other technical equipment and machinery over a period between 5 and 30 years. The other loans are recognised at nominal amounts. The inventories are valued at the average purchase prices and in line with the lower of cost or market value principle. The receivables, other assets and liquid funds have been valued at their nominal value. In the case of the receivables, appropriate specific and general allowances have been made to cover the risks. For employees eligible for pension commitments, provisions have been set up on the basis of Prof Dr Klaus Heubeck's 2005 G Standard Tables for estimating biometric probabilities observing the projected unit credit method based on actuarial principles. The measurement was based on a pay rise trend of 2.5 % p. a. and a pension trend of 2.0 % p. a. The discounting rate accounts for 5.14 % as of 31 December 2011, which was determined and announced by the German central bank on the basis of the average market interest rate of the past seven financial years for an estimated residual term of 15 years in accordance with 253 (2) German Commercial Code (HGB) in connection with the German Provision Discounting Regulations (RückAbzinsV). The provisions for early-retirement parttime commitments also include the amounts for addition eligible to the employees under an early-retirement parttime employment according to 3 (1) Law on Early-Retirement Part-Time Work (ATG). The part-time employment 52 Cologne Bonn Airport

52 schemes follow the principles of the socalled block model", under which the provision also includes the proportional remuneration for the redundancy phase. Measurement was based on the projected unit credit method in compliance with the German Provision Discounting Regulations (RückAbzinsV) and was discounted at matching maturities at an interest rate between 3.82 % and 4.37 %. The Company is a member of a supplementary pension fund [Zusatzversorgungskasse], which grants its members' employees and their surviving dependants supplementary retirement, reduction in earning capacity and surviving dependants' pensions. For possible obligations of the Company to assume liabilities due to short cover of the supplementary pension fund, as in the previous years, no provision was set up by appropriate application of the option to accrue for indirect pension commitments under German Commercial law (Article 28 Section 1 EGHGB [Introductory Act to the German Commercial Code]). The provisions for taxes and other provisions cover all identifiable risks and contingent liabilities and are based on sound business judgement. Measurement is made to the amount of the settlement amount, which is required according to sound business judgement to cover future payment obligations. Future price and cost increases were considered provided that there are sufficient objective indications for their occurrence. Provisions with a residual term of more than one year are discounted with the market interest rate applicable to their residual terms. Liabilities are recognised at the amount at which they will be repaid. From 2010 onwards, deferred tax assets are established for temporary differences between the financial statements under Commercial Law and tax balance sheets concerning the values recognised for assets and liabilities. In addition to the temporary accounting differences, tax loss carryforwards are considered. The calculation of deferred taxes is based on the combined income tax rate of currently about 32.4 %. This resulted in a deferred tax liability, which is especially a result of differences of the values included in the tangible fixed assets. The sales revenues are realised as soon as trade has been performed, the commodity is no longer at the disposal of the Company and the business transaction can be invoiced. Accordingly, airport charges are realised when take-offs and landings as well as ground traffic services etc. have been carried out and lease and rental income, if applicable, is realised on a pro rata temporis basis. B. Notes to the Balance Sheet (3) Fixed assets The movements in fixed assets are presented in the statement of movements in fixed assets attached to these notes to the financial statements. (4) Trade receivables This item refers to receivables from airlines, authorities, lease-holders and ten- ants. They have as in the previous year a residual term of up to one year. (5) Other assets The other assets basically include tax refund claims (EUR 572 thousand), input tax (EUR 1,828 thousand), receivables from employees (EUR 301 thousand) and creditors with debts (EUR 383 thousand. Ac- Annual Report

53 Notes to the Financial Statements for the Financial Year 2011 counts totalling EUR 572 thousand have a residual term of more than one year (previous year: EUR 381 thousand). (6) Prepaid expenses This item includes certain payments made in advance. (7) Subscribed capital As in the prior year, the share capital amounts to EUR 10,821, and is held by: Share % City of Cologne Federal Republic of Germany Beteiligungsverwaltungsgesellschaft des Landes Nordrhein-Westfalen mbh (BVG) [Holding and management company of the State of North Rhine-Westphalia] Stadtwerke Bonn GmbH [Public utility company of the City of Bonn] 6.06 Rhein-Sieg-District 0.59 Rheinisch-Bergischer District (9) Revenue reserves As of 31 December 2011, the revenue reserves amount to EUR million, EUR 5.4 millionof which were allocated from the net retained profits in accordance with the shareholder resolution dated 15 June (10) Tax provisions This item refers to provisions for taxes on income, property and electricity taxes and for disputed VAT payments. (11) Other provisions The other provisions can be analysed as follows: EUR million Maintenance 17.5 Commitments towards employees 8.1 Outstanding invoices and contributions 6.7 Disputed remuneration 1.1 Audit and consulting fees 1.1 Other (8) Capital reserves These are reserves bound to specific purposes for the expansion of the Airport. (12) Liabilities The following table presents the liabilities and their maturities: Of which with a residual term of Residual term up to more than Total up to 1 year 1 year 5 years 31 Dec Prior year EUR 000 EUR 000 EUR 000 EUR Liabilities to banks 75, , ,051 90, Trade payables 17, ,749 17, Other liabilities 2,130 18,244 28,616 4,463 Of which taxes ( 841 ) ( 0 ) ( 841 ) ( 1,325 ) Of which relating to social security ( 13 ) ( 0 ) ( 25 ) ( 25 ) 94, , , , Cologne Bonn Airport

54 The liabilities to banks include deferred interest of EUR 3,317 thousand. The Company does not have derivatives. (13) Deferred tax liabilities The deferred tax assets of EUR 5.1 million, which predominantly result from tax loss carryforwards, were offset against deferred tax liabilities in the amount of EUR 81.5 million, which are largely due to the re-measurement of fixed assets. Accordingly, the deferred tax liabilities amount to EUR 76.4 million. The corporate income tax rate including solidarity surcharge is %, the municipal trade tax rate accounts for %. C. Notes to the Income Statement (14) Sales (17) Personnel expenses 2011 Prior year EUR 000 EUR 000 The cost of post-employment benefits came to EUR 6.6 million(prior year: EUR 7.5 million). Airport fees, ground services 177, ,958 Rents, leases and supply services 84,135 81,023 Other services 9,407 10, , ,088 Of which generated in other periods (2,570) (2,117) All sales are generated at domestic level. (15) Other operating income The item primarily includes income from the release of provisions, training programmes for thirdparty personal, the sale of assets and other additional revenue. These comprise income related to other periods of EUR 6.6 million (prior year: EUR 3.1 million). (16) Cost of materials Cost of consumables and supplies include costs of EUR 21.0 millionincurred for the maintenance of equipment (prior year EUR 27.1 million). (18) Other operating expenses This item comprises inter alia additions to other provisions, advertising and marketing expenses, general and administrative expenses, insurances, rents and leases as well as staff-related costs. Operating expenses of EUR 3.7 millionrelate to other periods. (19) Other interest and similar income The income from discounting provisions amounts to EUR 0.1 million (prior year: EUR 0.4 million). (20) Interest and similar expenses The accumulation of interest amounts to EUR 1.5 million(prior year: EUR 0.4 million). (21) Extraordinary result The amount reported as extraordinary result in the prior year solely resulted from the first-time application of the Law on Modernisation of Accounting Regulations (BilMoG). Annual Report

55 Notes to the Financial Statements for the Financial Year 2011 (22) Taxes on income The tax expense includes deferred taxes of EUR 6,482 thousand (prior year: EUR 1,789 thousand). The current taxes on income exclusively relate to the result from ordinary activities. D. Other Disclosures (23) Other financial commitments The total amount of major other financial obligations not recognised in the balance sheet consists of: EUR 000 Accounts payable to suppliers 15,925 Annual payment obligations under tenancies and leases (Of which for an indefinite period EUR 28 thousand p.a.) 2,473 18,398 The Company is a member of the City of Cologne supplementary pension fund [Zusatzversorgungskasse], which grants its members' employees and their surviving dependants supplementary retirement, reduction in earning capacity, and surviving dependants' pensions. In addition to the rate of 5.8 % of the remuneration subject to the pension contributions, an additional contribution is levied to build up capital cover, which was at 3.2 % in 2011 (prior year: 3.2 %). The shortage in cover, which was not recognised in exercising the option under Art. 28 Introductory Law to the Commercial Code (EGHGB), amounts to EUR 52,377 thousand as of 31 December The employer's contribution to the supplementary pension fund amounted to EUR 6,301 thousand in 2011 (prior year: EUR 6,272 thousand). (24) Breakdown of employees without managing directors and apprentices (annual average) 2011 Prior year Number Number Employees ground services Other employees 1,339 1,271 1,785 1,780 (25) Total fees paid to the auditor EUR Audit services 70,000 (26) Compliance with 110 German Power Industry Law (EnWG new version) In a letter dated 22 November 2011, the Company submitted an application for classification of the existing electricity supply systems to the regulatory authority North Rhine-Westphalia [Landesregulierungsbehörde Nordrhein-Westfalen]. We expect that the regulatory authority will submit the relevant certificate in Being classified as closed distribution system operator, we are committed to satisfying the requirements under 6b (3) German Power Industry Law (EnWG), i. e. unbundling of the internal accounting. Concerning the first-time application of the regulations as specified in 6b (3) German Power Industry Law (EnWG), our accounting is based on the interpretation 56 Cologne Bonn Airport

56 of legislation of the Ruling Chamber 9 of the Federal Network Agency [Bundesnetzagentur], which specifies that 114 German Power Industry Law (EnWG) shall be applied analogously and, as such, the Company is obliged to meet the requirements under 6b (3) German Power Industry Law (EnWG) from the financial year 2012 onwards. In the past financial year, the Company started implementation of those requirements in compliance with the provisions of the German Power Industry Law (EnWG). We believe that all requirements will be complied with in due time. (27) Management Board Michael Garvens, Bergisch Gladbach / Germany, Administration Director ( Chairman of Board of Management) Athanasios Titonis, Bonn / Germany, Technical Director (since 1 June 2011) The total emoluments of the active managing directors for the financial year amounted to EUR 545 thousand and can be analysed as follows: Michael Athanasios Garvens Titonis Basic pay Variable pay (performancerelated bonus) Benefits in kind and other remuneration Remuneration of former managing directors or their dependants amounted to EUR 462 thousand. As at the balance sheet date, the provision for pension obligations set up for former managing directors or their surviving dependants amounted to EUR 6,365 thousand, and for active managing directors to EUR 992 thousand. Loans granted to former managing directors amounted to EUR 0.9 thousand. Annual Report

57 Notes to the Financial Statements for the Financial Year 2011 (28) Members of the Supervisory Board Dr. Volker Hauff State of North Rhine-Westphalia Former Federal Minister (Chairman) Hans-Dieter Metzen Employees' representative Employee Flughafen Köln / Bonn GmbH 1 st Deputy Chairman Martin Börschel City of Cologne Lawyer 2 nd Deputy Chairman (until 14 April 2011) Jochen Ott City of Cologne Former Principal [Oberstudienrat a. D.] 2 nd Deputy Chairman (since 20 April 2011) Michael Odenwald Federal Republic of Germany Ministerial Director 3 rd Deputy Chairman Nuretdin Aydin Employees' representative Loading Supervisor Flughafen Köln / Bonn GmbH Rolf Bausch Rhein-Sieg District Former Ministerial Secretary (until 15 June 2011) Horst Becker State of North Rhine-Westphalia State Secretary (until 31 March 2011) Bernhard Braun Employees' representative Employee of Flughafen Köln / Bonn GmbH Winrich Granitzka City of Cologne Consultant Dr. Günther Horzetzky State of North Rhine-Westphalia State Secretary (since 17 May 2011) Waltraud Mayer Employee's representative Employee of Flughafen Köln / Bonn GmbH Dr. Rüdiger Messal State of North Rhine-Westphalia State Secretary Gerold Reichle Federal Republic of Germany Ministerial Director Jürgen Roters City of Cologne Lord Mayor Petra von Wick Federal Republic of Germany Ministerial Secretary Karl-Heinz Wildschrei Employee's representative Employee of FKB Eduard Wolf Rheinisch-Bergischer District Employee (since 15 June 2011) The total emoluments paid to the Supervisory Board amounted to EUR 27.0 thousand. (29) Proposal for the Appropriation of Profits Management proposes to allocate the net income for the year of EUR 10,012, to the revenue reserves. Cologne / Germany, 22 March 2012 Flughafen Köln / Bonn GmbH signed: Michael Garvens (Chairman of Management Board) signed: Athanasios Titonis (Technical Director) 58 Cologne Bonn Airport

58 Auditors' Report [Independent] Auditors' Report We have audited the annual financial statements comprising the balance sheet, the income statement and the notes to the financial statements together with the bookkeeping system, and the management report of Flughafen Köln / Bonn Gesellschaft mit beschränkter Haftung, Cologne / Germany, for the business year from 1 January to 31 December The maintenance of the books and records and the preparation of the annual financial statements and management report in accordance with German commercial law are the responsibility of the Company's management. Our responsibility is to express an opinion on the annual financial statements, together with the bookkeeping system, and on the management report based on our audit. We conducted our audit of the annual financial statements in accordance with 317 HGB ("German Commercial Code") and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer. Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the annual financial statements in accordance with German principles of proper accounting and in the management report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Company and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the books and records, the annual financial statements and the management report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the annual financial statements and management report. We believe that our audit provides a reasonable basis for our opinion. Our audit has not led to any reservations. In our opinion, based on the findings of our audit, the annual financial statements of Flughafen Köln / Bonn Gesellschaft mit beschränkter Haftung, Cologne / Germany, comply with the legal requirements and give a true and fair view of the net assets, financial position and results of operations of the Company in accordance with German principles of proper accounting. The management report is consistent with the annual financial statements and as a whole provides a suitable view of the Company's position and suitably presents the opportunities and risks of future development. Düsseldorf / Germany, 23 April 2012 Deloitte & Touche GmbH Wirtschaftsprüfungsgesellschaft Signed: Harnacke Wirtschaftsprüfer [German Public Auditor] Signed: Neu Wirtschaftsprüfer [German Public Auditor] Annual Report

59 Balance Sheet as of 31 December 2011 Balance Sheet as of 31 December 2010 ASSETS Note Balance as of 31 Dec Prior year A. Fixed assets (3) I. Intangible fixed assets 1. Licenses and IT software acquired for a consideration No. EUR EUR EUR 000 EUR 000 7,986, , Prepayments 654, ,640, ,485 II. Tangible fixed assets 1. Land, land rights and similar rights and buildings on third-party land 508,722, , Technical equipment and machinery 167,551, , Other equipment, operating and office equipment 35,885, , Prepayments and assets under construction 10,580, ,739, , ,764 III. Long-term financial assets Other loans 896, , ,277, ,267 B. Current assets I. Inventories Consumables and supplies 3,570, ,421 II. Receivables and other assets 1. Trade receivables (4) 19,999, , Other assets (5) 3,697, ,697, ,063 19,713 III. Cash-in-hand, bank balances 430, ,699, ,735 C. Prepaid expenses (6) 556, ,533, , Cologne Bonn Airport

60 EQUITY AND LIABILITIES Note Balance as of 31 Dec Prior year No. EUR EUR EUR 000 EUR 000 A. Equity I. Subscribed capital (7) 10,821, ,821 II. Capital reserves (8) 82,732, ,732 III. Revenue reserves (9) 151,020, ,645 IV. Accumulated losses brought forward ,661 V. Net income for the financial year 10,012, ,587, , ,574 B. Provisions 1. Provisions for pensions 7,356, , Tax provisions (10) 5,567, , Other provisions (11) 35,268, ,192, ,830 53,293 C. Liabilities (12) 1. Liabilities to banks 333,050, , Trade payables 17,749, , Other liabilities 28,616, ,416, , ,627 D. Deferred income 1,922, ,887 E. Deferred tax liabilities (13) 76,414, , ,533, ,314 Annual Report

61 Income Statement for the Period from 1 January to 31 December 2011 Income Statement for the Period from 1 January to 31 December 2011 Note 2011 Prior year No. EUR EUR EUR 000 EUR Sales (14) 271,536, , Other own work capitalised 1,284, , Other operating income (15) 9,145, , Cost of materials (16) 281,966, ,007 a) Cost of consumables and supplies 28,724, ,193 b) Cost of purchased services 55,600, ,324, ,908 93, Personnel expenses (17) a) Wages and salaries 78,241, ,201 b) Social security, post-employment and other employee benefit costs 21,918, ,160, ,473 99, Amortisation of intangible fixed assets and depreciation of tangible fixed assets 33,269, , Other operating expenses (18) 26,002, , Income from long-term loans 19, Other interest and similar income 61, Interest and similar expenses (19) 17,110, , Result from ordinary activities 21,180, , Extraordinary income , Extraordinary expenses , Extraordinary result , Taxes on income 7,955, , Other taxes 3,211, , Net income for the financial year 10,012, , Cologne Bonn Airport

62 Annual Report

63 Statement of Movements in Fixed Assets Statement of Movements in Fixed Assets Exhibit to the Notes Fixed assets ACQUISITION COST 1 Jan Additions Reclassifications Disposals/ Repayments 31 Dec I. INTANGIBLE FIXED ASSETS EURO 2011 EURO 2011 EURO Jahresabschluss, 2011 EURO EURO 1. Licenses and IT software acquired Geschäftsjahr vom 1. Januar for a consideration 21,922, ,126, , , ,387, bis 31. Dezember Prepayments 893, , , , ,815, ,555, , , ,041, II. TANGIBLE FIXED ASSETS 1. Land, land rights and similar rights and buildings on third-party land 753,996, ,862, , ,411, ,515, Technical equipment and machinery a. Flight operations area 133,323, , , ,767, b. Other technical equipment and machinery 242,365, ,084, , ,248, ,058, Other equipment,operating and office equipment 89,904, ,066, , ,863, ,155, Prepayments and assets under construction 2,844, ,678, , ,580, ,222,434, ,693, , ,082, ,222,078, III. LONG-TERM FINANCIAL ASSETS Other loans 1,017, , , Total 1,246,267, ,249, ,500, ,247,016, Cologne Bonn Airport

64 AMORTISATION/DEPRECIATION/WRITE-DOWNS BOOK VALUES 1 Jan (accumulated) EURO Amortisation, depreciation, write-downs 2011 EURO Write-ups 2011 EURO Disposals 2011 EURO Reclassifications 2011 EURO 31 Dec (accumulated) EURO 31 Dec EURO 31 Dec EURO 14,330, ,355, , ,400, ,986, ,591, , , ,330, ,355, , ,400, ,640, ,484, ,865, ,028, ,101, ,792, ,722, ,131, ,863, ,943, , ,417, ,349, ,459, ,122, ,926, ,191, ,857, ,201, ,242, ,817, ,015, ,562, ,270, ,885, ,086, ,580, ,844, ,669, ,914, ,245, ,338, ,739, ,764, , ,017, ,000, ,269, ,530, ,739, ,277, ,267, Annual Report

65 Report of the Supervisory Board During the year under review, the Supervisory Board was regularly informed by written and oral reports from the Management Board on the Company s economic situation and development. At its meetings, the quarterly reports submitted by the Management Board on the developments in traffic and business were discussed in detail. The Supervisory Board s major decisions related to its ratification of the following issues: - the 2010 annual financial statement, management report and various cost overruns of the 2010 business plan - the acts of the Management Board for the financial year issuing the audit mandate for the financial year business, finance and staff plan medium-term business and finance plan management of parking space at Cologne Bonn Airport by Flughafen Köln / Bonn GmbH - conclusion of company agreements - extension of the finance plan re-appointment of the Chairman of the Management Board - new appointment of the Technical Managing Director - various construction projects - personnel matters Further main priorities of the Supervisory Board s work were not only the discussion of Cologne Bonn Airport s general economic situation (quarterly reports), but also involved: - risk inventory - reports on the proceedings of the Commission in accordance with 32b German Air Traffic Law [LuftVG] - airport security - application of the Accounting Law Modernisation Act - political discussion on night flight ban for passenger aircraft - foreseen amendment to the Articles of Association The annual financial statement as at 31 December 2011 and the management report were audited by the auditing company Deloitte & Touche GmbH, Düsseldorf, and an unrestricted auditor s certificate was issued. The Supervisory Board discussed the management report and annual financial statement on the basis of the auditor s report by Deloitte & Touche GmbH and the findings of the auditing company under 53 of the Budgeting Principles Act [HGH]. On the basis of its examination, the Supervisory Board raised no objections against the auditor s report or the findings of the auditing company Deloitte & Touche GmbH. The Supervisory Board shall make the following proposal to the Annual General Meeting: - The approved annual financial statement be adopted and the annual surplus amounting to 10,012, be transferred to the revenue reserves. 66 Cologne Bonn Airport

66 In the year under revision, there were the following changes in the membership of the Supervisory Board: Parliamentary Secretary of State, Horst Becker (Representative of the Federal State of North Rhine-Westphalia) resigned from his office in the Supervisory Board as of State Secretary Dr. Günther Horzetzky was elected to the Supervisory Board in his stead on Martin Börschel (Representative of the City of Cologne) resigned from his office in the Supervisory Board as of Jochen Ott was elected to the Supervisory Board in his stead on As a representative of the small associates, Rolf Bausch (Rhein-Sieg District) resigned on a rotation basis as a member of the Supervisory Board as of In his stead, Eduard Wolf (Rheinisch- Bergisch District) was elected to the Supervisory Board on The Supervisory Board would like to thank the former members for their professional advice and support in the interests of the Airport Company. The Supervisory Board would also like to thank the Management Board and all employees for their commitment and the able and successful work they have done throughout the year under review. Cologne, The Supervisory Board Dr. Volker Hauff (Chairman) Annual Report

67 Originators Publisher: Staff Unit Corporate Communications (SU) Flughafen Köln/Bonn GmbH P.O. Box D Köln Responsible: Walter Römer Editors: Bodo Rinz (Managing Editor) Rebekka Rülcker Layout and prepress: schreibervis D Bickenbach Photos: Aviation Friends Cologne / Bonn, Dalchow, Ernser, Pletschke, Rabsch, Rinz, Rülcker, Steinebach, UPS, Varghese, Viktoria Köln, Wiedermann. Illustrations: Page 4: kola Philippe Kossebau & Claudia Landgraf GbR, Cologne Page 20 and 22: schreibervis, Bickenbach Status: May Cologne Bonn Airport

68 Flughafen Köln/Bonn GmbH P. O. Box Cologne, Germany