Annual Report 2009

The sales revenues

The sales revenues include earnings from construction services for third parties in the amount of ¤ 3.5 mil lion (previous year ¤ 1.4 million). This item contains mainly income from construction services performed for the rail connection and planning services performed for the Federal Institute for Real Estate Management. Sales Revenues (in ¤ million) 2009 2008 2007 Sales revenues aviation 164.4 167.3 156.0 Sales revenues non aviation 41.6 46.0 38.7 Sales revenues real estate 23.8 30.0 32.6 Sales revenues construction services 3.5 1.4 0.0 Sales revenues services 3.0 2.7 2.6 Other sales revenues 7.6 4.9 3.4 Total 243.9 252.3 233.3 The construction services performed for railway connections and the underground fuelling as well as the invoiced income from the operating costs statements for 2008 are recognised in the changes in inventory (¤ 82.0 million; previous year ¤ 74.6 million). The own work capitalised (¤ 8.5 million; previous year ¤ 6.6 million) basically covers activities related to the planned Capital Airport Berlin Brandenburg International BBI. Other operating income fell from ¤ 18.9 million to ¤ 13.2 million. This includes ¤ 5.4 million in income from the sale of areas in the Business Park Berlin. The income from the sales was offset against the proportionately chargeable book value disposals and the residual payments for future development and other expenditures for the areas which were to be taken into account. Moreover, this item contains income from other periods resulting from the reversal of other provisions (¤ 1.7 million, previous year ¤ 4.9 million). In the previous year, income from the reversal of valu ation allowances (¤ 3.6 million),from the management of the property THF (¤ 2.1 million) and income from the sale of participations (¤ 2.0 million) were included in the other operating income. The FBS Group responded quickly and determinedly to the worldwide financial crisis by initiating the cost-cutting program Hercules in 2009. The reductions realised in the FBS Group in comparison with the planned values of the budget for the material costs affected all of the company divisions and cost types; most of the ordered reductions were also realised. All in all, the conduct of numerous individual measures led to savings of about ¤ 13 million. Major items affect the legal and professional expenses (savings of about ¤ 5.8 million), the maintenance expenses (savings of about ¤ 1.4 million), the expenses for services (about ¤ 2.0 million) and expenses for marketing/public relations (about ¤ 1.9 million). The consumption of flexitime credits and the greatest possible use of holiday leave during the fiscal year and the temporal shift or cancellation of new hirings also realised a re duction in person- nel expenses. Costs in this sector were cut by about ¤ 0.7 mil lion. Additional cost savings of about ¤ 1.7 million resulted in various other cost types. The ongoing expenses of the FBS Group (¤ 320.6 million) rose despite the realised savings with respect to 2008 (¤ 317.2 million) by ¤ 3.4 million. This corresponds to an increase of 1.1 %. In detail, personnel expenses rose by ¤ 9.1 million and write-offs by ¤ 7.6 million. The cost of materials fell by ¤ 6.7 million and the other operating expenses fell by ¤ 6.6 million. The decline in the cost of materials by 5.3 % results in part from the lower expenses for third-party construction services and maintenance, especially at the Schoenefeld and Tegel sites (-¤ 9.5 million), caused by the provision for maintenance not performed at Tegel created in the previous year (¤ 5.8 million),and in part because the expenses for utility services declined (-¤ 3.6 million) pursuant to the closing of the Tempelhof site. In contrast, there were higher third-party services/ construction services for third parties (¤ 82.2 million; previous year ¤ 74.7 million), primarily for the transport connections for BBI. Personnel expenses rose by 10.5 % in comparison with 2008 to ¤ 94.9 million. One contributing factor was that the participation of the employees in the EBITDA for the year 2007 in the form of a one-off payment led to an increase in personnel expenses by ¤ 2.2 million. Furthermore, the allocations to the provisions TransFair BBI and to the required provisions for increased benefits for employee age groups entitled to partial retirement had significant effects in 2009. The accruals of interest for existing partial retirement contracts also increased the ongoing personnel expenses. The 15.1 % increase in depreciation and write-offs was caused primarily by the limitation of the useful life terms to the expected point in time of closing after the open ing of BBI, which reduced the length of the depreciation periods. Additional write-offs in the amount of ¤ 12.5 million (previous year ¤ 10.7 million) were required in 2009. Moreover unscheduled write-offs in the amount of ¤ 3.7 million (previous year ¤ 0.6 million) were required in 2009. Other operating expenses declined by 11.7 % in comparison with the previous year from ¤ 56.5 million to ¤ 50.0 million. Part of the reason for this decline is the lower expenses due to the closure of the site THF and the lower expenses for marketing and public relations work (-¤ 1.6 million). Another is that ¤ 1.6 million in provisions for the closure of TXL and expenses from valuation allowances for receivables in the amount of ¤ 3.1 million were included in the previous year. 65

The Group's profit before taxes came to ¤ 0.9 million and is ¤ 27.3 million lower than the comparable figure of the previous year of ¤ 28.2 million. This decline is essentially a consequence of higher financ ing expenses related to the progress of construction at BBI, higher write-offs and various special effects of the previous year. The financial performance indicators below clearly depict the commercial development of the Group. Financial Performance Indicators 2009 Consolidated profit in ¤k 862 EBIT in ¤k 33.287 (excluding non-operating and financial results) EBITDA in ¤k 91.212 (operating results excluding depreciation) The consolidated profit includes the financial results (-¤ 24,479k; previous year -¤ 4,378k), non-operating income (¤ 4,375k; previous year ¤ 13,626k); non-operating expenses (¤ 12,242k; previous year ¤ 10,400k) and expenditures for taxes on income (¤ 79k; previous year ¤ 3,211k) in addition to the consolidated oper ating results (¤ 33,287k; previous year ¤ 29,388k). Expenditures and income related to the following items are shown in the non-operating results: one-off payments to employees for EBITDA for 2007, from valuation allowances, reversal of provisions, costs from previous years, taxes from previous years, income and income reductions from previous years, increased benefits for partial retirement and other non-operating items. Income or losses for disposals of fixed assets are not recognised in the non-operating results. 3. Investments The investment volume of ¤ 510.5 million was ¤ 186.2 mil lion above last year’s figure (¤ 324.3 million). The lion’s share of the investment measures were related to the project BBI, in detail for the following: • Partial project building construction (¤ 258.8 million), there of ¤ 250 million for the passenger terminal and ¤ 8.6 million for the buildings specific to operation • Partial project underground construction (¤ 146.7 million), thereof ¤ 111.8 million for measures related to the runway, aprons, large-scale earthworks and drainage systems, ¤ 26.5 million for road construction • Partial project technical infrastructure (¤ 46.1 million), thereof ¤ 8.8 million for mains networks (drinking water, sewage, rainwater drainage, heating and air conditioning, etc.), ¤ 29.4 million for cable networks • Land, including development (¤ 5.2 million) • Superordinate measures for all partial projects (¤ 15.1 million) • Partial project third-party investments (¤ 5.9 million), primarily planning and development services 66 2008 25.025 29.388 79.702 2007 16.712 18.460 61.327 • Partial project planning (¤ 7.6 million), thereof ¤ 1.8 million for the planning of airside area construction and open areas, ¤ 1.3 million for the realisation of state planning measures and ¤ 1.6 million for the expansion of bodies of water • Partial project noise protection programme BBI (¤ 2.1 million) Additional investments have been made at Schoenefeld Airport for fire protection measures in Terminal A (¤ 0.7 million). Moreover, investments were made in 4 compact cutter blowers (¤ 1.1 million), escape stairs for a fire truck (¤ 0.4 million) and an airport power sweeper (¤ 0.2 million). The major investments at Tegel were the expansion work on Terminal C (¤ 7.4 million), the baggage conveyor system in Terminal C2 (¤ 1.1 million), modification/expansion of the baggage conveyor system in Terminal B (¤ 0.6 million), 2 cutter blowers (¤ 0.6 million) and the stabilisation of the electric power station C2 TXL-South (¤ 0.3 million). 4. Berlin Brandenburg International Airport BBI The completion of the new Capital Airport BBI is moving forward at a rapid pace. In 2009, BBI grew out of the ground and is now recognisable as an airport. The BBI has now been given a face on its way to becoming the airport of the future. The most important steps on the way to BBI in 2009: Naming of BBI The Supervisory Board of the Berlin Airports decided on the name for the Berlin Brandenburg International Airport BBI during its meeting on 11 December 2009. As of its opening at the end of October 2011, the airport will operate under the name Flughafen Berlin Brandenburg. The name Berlin Brandenburg Airport will be used for international marketing of the airport. In addition, the Supervisory Board of the Berlin Airports has decided to give the new airport the by-name Willy Brandt. Mastering of the largest infrastructure financing in Europe Despite the massive liquidity bottlenecks on the banking market, the Berlin Airports were able to conclude the largest infrastructure financing in all of Europe when the signatures were affixed to the agreement for the BBI overall financing. The total amount of the BBI financing comes to ¤ 2.4 billion. One billion euros for the region Two years before the opening of the new Capital Airport BBI, the construction of the airport has already turned into a success story for the local economy. Almost 300 companies from the Berlin-Brandenburg region have won contracts during the tenders for the BBI which have taken place up to now. In 2009, the award threshold of one billion euros for companies in the region was crossed.