VI. Notes to the statement of profit or loss

1. Revenue Summary

Revenue was comprised as follows:

a) Revenue in accordance with IFRS 15

Revenue from airport charges includes airport charges subject to approval, including take-off and landing charges, passenger charges, and noise- and emissions-based charges. Charges that do not re­quire approval relate among other things to air-conditioning services for aircraft, services for people with reduced mobility, and security services.

Revenue from the retail trade relates to the sale of goods in the shops/outlets at Munich Airport.

Revenue from handling services includes services relating to ground handling (handling of aircraft and passengers) and cargo.

Revenue from the provision of services in the gastronomy and hotel business includes, inter alia, catering in restaurants and bars as well as the provision of hotel rooms and services in the health and well­ness facilities.

Revenue from the provision of parking facilities relates to services where customers are provided with unspecified parking spaces for their use. This includes, inter alia, the one-off parking by air passen­gers and visitors, the issue of parking cards to contingent car parkers, and the offer of general areas in the car rental center.

Other revenue includes, inter alia, other services from consulting projects, aviation fuel supply and other services (for example, se­cu­rity, IT, construction measures and advertising). Another component of other revenue is revenues from permits, concessions and the sale of goods.

Munich Airport generates its revenue predominantly in Germany.

b) Leasing in accordance with IFRS 16

Lease income results from the rental and leasing of real estate, from the rental of parking spaces that are not reported in accordance with IFRS 15, from the rental of billboards and light boxes for advertising purposes as well as the rental of exhibition space.

The category «Rental and leasing of real estate» includes revenues from the rental of transport, business and logistics real estate, and from the rental of commercial space, office and conference rooms.

Income from variable lease payments that are not dependent on an index or interest rate amounted to TEUR 4,814 in the 2025 fiscal year (2024: TEUR 5,124).

In future fiscal years, Munich Airport expects the following lease pay­ments from operating leases:

Disclosures on the carrying amounts of assets leased are given in VII.2.

The revenues from the subleasing of property that has led to the recognition of right-of-use assets was TEUR 504 in the 2025 fiscal year (2024: TEUR 759).

2. Own work capitalized

The balance of own work capitalized relates to various construction projects.

3. Other income

The components of other income were as follows:

Miscellaneous other income includes exchange rate gains of TEUR 159 (2024: TEUR 1,424).

4. Cost of materials

The cost of materials consisted of the following:

5. Personnel expenses

Personnel expenses were composed of the following:

The average number of employees in the fiscal year is shown in the table below:

6. Other expenses

Other expenses are broken down as follows:

Expenses from exchange rate losses amounting to TEUR 2,439 (2024: TEUR 62) are reported under other expenses.

Fees paid to the auditor are presented under the expenses for audit, consulting, and project services. These comprise auditing services of TEUR 530 (2024: TEUR 538), other assurance services of TEUR 36 (2024: TEUR 43), and other services of TEUR 128 (2024: TEUR 102).

Lease expenses in the 2025 fiscal year include expenses of TEUR 30 (2024: TEUR 169) from variable lease payments that are not taken into account in the calculation of the lease liabilities in accordance with IFRS 16.

7. Depreciation and amortization

Depreciation and amortization are broken down as follows:

The impairment losses in the 2025 fiscal year are mainly accounted for by demolition costs for assets and by planning services already incurred for construction projects that will no longer be implemented in this form. In addition, TEUR 4,574 can be attributed to assets that were remeasured due to the loss of tenants and higher interest rates.

8. Financial result Summary

The interest result was comprised of the following:

Other interest income and expenses result from the measurement of other non-current provisions and obligations from employee benefits at the present value.

The components of the other financial result were as follows:

Net gains (interest income) from the re-measurement of financial instruments are attributable to the measurement categories de­scribed in Section IV.7.c) as follows:

The increase in net gains is primarily due to the re-measurement of financial liabilities from interests in partnerships.

Net losses (interest expenses) from the re-measurement of financial instruments are attributable to the measurement categories described in Section IV.7.c) as follows:

The decrease in net losses is primarily due to the re-measurement of financial liabilities from interests in partnerships.

9. Income taxes Summary

Income taxes break down as follows:

The measurement of deferred tax assets and liabilities is based on the tax rates expected at the time of realization. In the 2025 fiscal year, the calculation was based on tax rates of 21.05% to 30.18% (2024: 26.33% to 30.18%). The change in tax rates compared to the previous year results from the implementation of the Act on an Immediate Tax Investment Program to Strengthen Germany as a Business Location (Gesetz für ein steuerliches Investitions­sofort­programm zur Stärkung des Wirtschafsstandorts Deutschland). If the earnings after taxes as presented in these consolidated fi­nan­cial statements were the basis for taxation, income tax expenses of TEUR 41,094 would be expected for the current fiscal year (2024: TEUR 28,889). Differences between the expected income tax ex­pense or income and the income tax expense or income reported in the statement of profit or loss are partially offset by the deferred tax expense or income from the change in deferred tax assets and li­abil­i­ties. The remaining difference is attributable to the following items: