Munich Airport operator FMG announced record preliminary net annual profits of EUR155 million (USD191 million) in 2017, driven by a 5.5% increase in passenger traffic to 44.6 million.
Revenues increased by 7.8% to EUR1.47 billion but operating cash flow fell by 28% due to higher tax payments in 2017 and liabilities in connection with construction of the Terminal 2 Satellite.
"All the signs point to a continuation of our very satisfactory performance, so that we fully expect to report earnings at around the same level for 2018,” President and CEO Michael Kerkloh said on 11 April.
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