Berlin ist mit rund 35,65 Millionen Passagieren im Jahr 2019 der drittgrößte Flughafenstandort in Deutschland. Aktuell gibt es zwei Flughäfen: den Flughafen Berlin-Schönefeld und den Flughafen Berlin-Tegel. Der gesamte Luftverkehr der deutschen Hauptstadtregion soll am Standort Schönefeld konzentriert werden. Dafür plant und baut die Flughafengesellschaft den Flughafen SXF zum Flughafen Berlin Brandenburg – kurz BER – aus. Das Terminal T1 des BER wird am 31. Oktober 2020 eröffnet.

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Annual Report 2018

Portraits, finances, prospects: Flughafen Berlin Brandenburg GmbH presents its key business segments, latest financial statements and most recent developments in the annual report.

94 | Flughafen Berlin

94 | Flughafen Berlin Brandenburg GmbH Discernible risks have been given due consideration in the annual financial statements by the formation of provisions. The possibility of additional risks cannot be completely excluded, but it is not possible at this time to quantify these with any degree of certainty. Off-balance-sheet transactions and other financial obligations There are other financial obligations in the amount of EUR 663.8 million. These obligations arise specifically from the following facts fixed by contract or commissioned: Nr. Other financial obligations 31.12.2018 EUR million 31.12.2017 EUR million 1 Noise protection measures 374.0 378.0 2 Order commitment from awarded investment contracts 173.9 346.1 3 Invoices for measures subject to capitalisation still under review 85.5 67.2 4 Payment obligations from leases and leasing agreements 30.4 29.4 5 Payment obligations for equalisation levy for sealing in accordance with the zoning resolution 0,0 2.6 Total 663.8 823.3 There is an obligation pursuant to the (supplementary) planning stipulation decision to initiate noise protection measures (Subclause 1) and/or make compensation payments. These obligations will amount to as much as EUR 374.0 million by the time of the operational startup. The awarded investment/consulting contracts (Subclause 2) essentially concern measures for BER, including the terminal, underground construction, planning, technical infrastructure as well as for expansion projects. Invoices for measures subject to capitalisation which had been received at FBB by the balance sheet key date, but which are still under review (Item 3), amount to EUR 85.5 million. The amount which would actually be reasonable for the claims submitted by the contractors with respect to these invoices has not been finally clarified. The obligations pursuant to the leases and leasing agreements (Item 4) end in the period between 2019 and 2027 and primarily relate to hereditary tenancy, office buildings, IT equipment, motor vehicles and office furniture. Derivative financial instruments The interest for the long-term external financing represents a major component of the payment obligations of FBB.

Our figures | 95 The Company therefore secured its position in the event of an increase in interest rates and the resulting rise in financing costs by concluding interest rate swaps in December 2006. Each of these agreements has been concluded to hedge future cash flows. The risk that is to be secured is the change in value of the interest payments for the long-term external financing resulting from changes in the 3-month Euribor interest rates. The objective of the interest hedge transactions is to establish a fixed interest rate for a part of the expected interest payments (3-month Euribor) and thus to secure the viability of the planning. The BER long-term financing with variable interest rates consisting of the EIB loan agreements as well as the old syndicated financing, both signed in 2009, served as the underlying transaction for the hedging until February 2017. In February 2017 the syndicated financing was restructured. The majority share was refinanced hereby through a fixed-interest tranche. Based on this initial situation the interest rate swaps were adjusted to the capital development of the EIB loan agreements in 2017. By the interest rate swaps the remaining share subject to variable interest rates is hedged against fluctuations in interest rates over a firmly agreed term until 2026. The EIB loan agreements have a term until 2034 respectively 2035. Risks from cash flow fluctuations in the amounts shown above are therefore excluded for future interest payments of the stated underlying transactions. In this period of time the contrary changes in value from the underlying and hedging transaction will be balanced out in full. The interest swaps and the loans to finance the construction of the BER create a micro-valuation unit in accordance with HGB. They are disclosed in the balance sheet in accordance with the net hedge presentation method. Changes in the value of the interest rate swaps are accordingly not disclosed in the balance sheet if they are balanced out by changes in value in the underlying transaction. The formation of a provision for impending losses would be required if there is a possibility of unrealised loss. The fair values as of 31 December 2018 amount with a nominal value of around EUR 818.1 million to EUR -197.1 million. The determination of the market values of the swaps was carried out with the help of the Discounted-Cash- Flow valuation. The future interest payments were discounted by the yield curve of 31 December 2018. The cash value of these payments represents the value of the swaps. The five swaps are amortising payer interest rate swaps. The prospective effectiveness of the hedging relationship is determined based on the Critical-Term-Match-Method. The Critical-Term-Match-Method assumes full effectiveness so that according to IDS RS HFA 35 margin note 59 a retrospective effectiveness test can be waived. As full effectiveness is to be assumed no provision for impending losses is to be formed for the fiscal year 2018. Section 314, no. 15a HGB requires disclosure in the notes of the amount of risk secured by the valuation units. Owing to the formation of the valuation unit, the swaps have a negative market value of EUR -197.1 million that is not to be taken into consideration.