Munich Airport 2011 EBITDA up 24%, sixth largest European airport for the first time

Germany's Munich Airport stated it has overtaken Rome Airport to become the sixth largest airport in Europe by annual passengers, posting a 9% year-on-year increase in passenger numbers to 38 million in 2011. The airport's global ranking improved by three positions to 27th in 2011. Munich Airport also released the following financial highlights for 2011:

• Total revenue: EUR950 million, +6.1% year-on-year;
• EBITDA*: EUR270 million, +23.9%;
• Investment income: EUR80 million, +33.3%;
• Profit after tax**: EUR230 million, +49.4%;
• Cash flow: EUR215 million, +28.0%;
• Passenger numbers: 37.8 million, +8.8%;
• Cargo volume: 303,655 tons, +5.9%;
• Aircraft movements: 409,956, +5.1%. [more - Original PR]

*Excluding provision in 2011 for the Regional Fund in connection with the third runway
**Excluding provision in 2011 for the Regional Fund in connection with the third runway and interest payments on shareholder loans

Munich Airport CEO Michael Kerkloh does not expect significant increase in aircraft movements in 2012, but expects a substantial growth in passenger traffic.

Munich Airport: "Only by building the third runway soon can we be assured of overcoming the bottlenecks forcing us to turn away potential traffic and moving forward with the development of the Munich hub to maintain economic competitiveness and continued access to mobility for the Bavarian population. For the second strategic expansion project, the development of a satellite building on the eastern apron, preparatory work is already underway. The official start of construction of the Terminal 2 satellite will take place on April 23 of this year when the cornerstone for the new facility is laid," Michael Kerkloh, CEO. Source: Munich Airport, 23-Feb-2012.