Development in the first half of 2020
The Covid-19 pandemic is adversely impacting the development of demand and financial key figures.
Additional burdens on profit development from quality and capacity measures.
Implementation of measures to increase energy efficiency.
DB Netze Stations | H1 | Change | |||
2020 | 2019 | absolute | % | ||
| Facility quality (grade) | 2.86 | 2.89 | – | – |
| Station stops (million) | 73.3 | 76.2 | – 2.9 | – 3.8 | |
thereof non-Group railways | 21.1 | 19.4 | + 1.7 | + 8.8 | |
| Total revenues (€ million) | 647 | 680 | – 33 | – 4.9 | |
thereof station revenues | 442 | 451 | – 9 | – 2.0 | |
thereof rental | 187 | 204 | – 17 | – 8.3 | |
| External revenues (€ million) | 292 | 303 | – 11 | – 3.6 | |
EBITDA adjusted (€ million) | 124 | 201 | – 77 | – 38.3 | |
EBIT adjusted (€ million) | 53 | 123 | – 70 | – 56.9 | |
| Gross capital expenditures (€ million) | 497 | 397 | + 100 | + 25.2 | |
| Net capital expenditures (€ million) | 236 | 216 | + 20 | + 9.3 | |
| Employees as of Jun 30 (FTE) | 6,302 | 6,002 | + 300 | + 5.0 |
Facilities quality was slightly below the level of the first half of 2019.
The significant decline in station stops resulted mainly from lower traffic on regional and long-distance services due to Covid-19. This was offset in part by an increased demand from non-Group customers.
Economic development was weak: significant increases in expenses mainly for personnel and maintenance led with simultaneous mainly Covid-19-related declining income to a significant decrease in operating profit figures.
- The decline in revenues, among other things, due to lower station revenues driven by the performance development. The revenues for rental and leasing declined even more significantly as a result of the effects of the Covid-19 pandemic. Growth in external revenues reflects the growing market share of non-Group railways.
- Other operating income (–28.6%/€ –20 million) declined mainly as a result of lower construction grants and the absence of a special effect from the first half of 2019.
On the expense side, there were considerable additional charges:
- Cost of materials (+3.5%/€ +10 million) increased, among other things, as a result of extensive Covid-19-related hygiene and safety measures at our stations. Moreover, additional measures to improve quality have had a negative impact on development.
- Personnel expenses (+9.4%/€ +17 million) increased significantly as a result of a higher number of employees and collective bargaining agreements.
- Other operating income (+6.4%/€ +7 million) increased, among other things in connection with the Passenger Information System project, the utilization of increased purchasing services and projects for demolition work.
- Depreciation (–9.0%/€ –7 million) declined mainly due to revaluations of economic useful lives.
The significantly higher capital expenditures were mainly made for the modernization of existing traffic stations as well as the construction of new ones.
The number of employees increased mainly due to more personnel particularly in the areas of construction and facilities management.