What a difference 10 years of <IR> make
Integrated reporting in practice
This year’s integrated report is Munich Airport’s tenth. It represents an annual balance sheet of its responsible activities and thus also considers all key aspects of the entire value creation process: finances, employees, expertise, environment, infrastructure, and society. Integrated corporate leadership requires the networking of various divisions – and thus agility and efficiency – within the organization.
Integrated thinking, responsible action
Integrated action as a logical continuation of integrated thinking starts with the identification of key performance indicators that serve as the basis for operational and strategic alignment. Ultimately, higher-quality decisions become evident leading to sustained company success. Munich Airport is investing in the most important resources with the goal of increasing value over the long term. Qualified and motivated employees, high-performance and demand-driven infrastructure, and the successful continuation of the digital transformation are among the key requirements for driving development vigorously in the coming years.
Creating sustainable value
Integrated thinking and action form the basis for integrated reporting. This offers an holistic and farsighted description of the business activity of a company. In terms of its integrated reporting, Munich Airport is guided by the framework concept of the International Integrated Reporting Council (IIRC) and shows the key activities with which it is creating its short-, medium-, and long-term financial and non-financial value.
As part of its day-to-day business, every company has an impact on a wide array of stakeholders, as well as on internal and external factors. In order to present these qualitative and quantitative interactions of the business model, Munich Airport has defined for itself the six forms of capital of the IIRC, which represent the basis of its business activity. Using the changes in the forms of capital, the airport can demonstrate key cause-and-effect relationships as well as value added or impairment.
Ten years of integrated reporting at Munich Airport
Mr. Bues, what function does Munich Airport’s annual integrated report fulfill?
We communicate intensively with a number of stakeholders. Munich Airport is not just a commercial enterprise, it is also infrastructure – with corresponding effects on our environment and our communities. It is therefore greatly advantageous that we can present different facets of our business model in the integrated report: We create transparency from an economic perspective with the financial indicators, but also reveal our strategy, our contribution to society, and the impact on the environment.
Can an integrated report be particularly important as a communication tool?
FMG is a major company in a strong region. Transparency is expected of us in all areas and not only from an economic perspective. That’s why we decided in favor of integrated reporting ten years ago, because it allows the different interactions of our business activity to be represented. Readers receive the full picture from us – in one publication.
Where do you see integrated reporting at the airport at present and where should the journey take us?
It is incumbent upon us to take external expectations on board, for example of different social groupings, and to address trends and sentiments. In this way we can help the company to understand what the public or specific stakeholders expect of us. Above all, I am also thinking about our corporate claim: Living ideas – Connecting lives. Integrated reporting fits in here perfectly. And this is something we want to keep working on.
The highlights from ten years of integrated reporting
Four main key performance indicators exemplify the development of Munich airport from an economic, environmental, and social perspective.
By combining the annual report and sustainability report for the first time in one format, Flughafen München GmbH (FMG) shows that economic success, social commitment, and environmental protection are inextricably interlinked.
Perspectives - Motivation
The trilogy starts under the generic title «Perspectives»: Motivation, markets, message. FMG takes part in a worldwide pilot project of the IIRC to reorganize company reporting.
Perspectives – Markets
In the 2012 annual financial statement, FMG converts the accounting from German Commercial Code (HGB) specifications to IFRS standards and introduces three non-financial indicators into the Group management report: CO2 savings, ASQ value, and employee retention index.
Perspectives – Message
New brand appearance: «Living ideas – Connecting lives» is Munich Airport’s claim. The modern brand puts its stamp for the first time on the design of the integrated report also.
Munich Airport uses the G4 standards of the Global Reporting Initiative for the first time and allows selected information and key indicators of sustainability performance to be examined.
Munich Airport introduces the six forms of capital of the IIRC with the aid of testimonials. The integrated report appears for the first time in landscape format.
The integrated report is published for the first time also as an online report. FMG is committed to the development objectives of the UN, the Sustainable Development Goals (SDGs).
Three journalist-style reports are included in the integrated report for the first time as well as key indicators on the topic «25 years of Munich Airport».
Shaping the future
The report is enhanced continually: This year sees the revision of the business model and expansion of the key indicator comparison and connectivity of sustainability topics. The new eco-efficient print standard is applied for the first time.
What a difference
The tenth integrated report is published. The online report gets a relaunch and now includes even more media-appropriate graphics and elements.
All key performance indicators were 100% indexed, base year 2010/2011.
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