Business development

Capital expenditures

Capital expenditures (€ million)

H1

Change

H1 2019

2021

2020

absolute

%

 Gross capital expenditures

5,550

5,552

–2

4,825

     thereof Integrated Rail System

5,212

5,034

+178

+3.5

4,241

  Investment grants

2,891

2,782

+109

+3.9

2,475

     thereof Integrated Rail System

2,882

2,777

+105

+3.8

2,468

Net capital expenditures

2,659

2,770

–111

–4.0

2,350

     thereof Integrated Rail System

2,330

2,257

+73

+3.2

1,773

 

Gross capital expenditures remained almost unchanged at a very high level. An increase in the Integrated Rail System, primarily as a result of higher capital expenditures in vehicles, was more than offset by a decline at DB Arriva (effects from the cessation of the ARN franchise) and DB Schenker (decline of leasing activities).

The investment grants increased slightly and accounted for about 52% of gross capital expenditures (in the first half of 2020: about 50%).

As a result, net capital expenditure fell slightly.

The focus of our capital expenditure activities continues to center on the Integrated Rail System for measures to improve performance and efficiency in the rail infrastructure sector as well as measures to rejuvenate and expand our vehicle fleet.

Gross capital expenditures by regions (€ million)

H1

Change

H1 2019

2021

2020

absolute

%

 Germany

5,200

5,092

+108

+2.1

4,299

Europe (excluding Germany)

271

393

–122

–31.0

457

Asia/Pacific

64

61

+3

+4.9

53

North America

9

25

–16

–64.0

28

Rest of world

7

2

+5

9

Consolidation

–1

–21

+20

–95.2

–21

DB Group

5,550

5,552

–2

4,825

Net capital expenditures by regions (€ million)

H1

Change

H1

2021

2020

absolute

%

2019

 

Germany

2,319

2,315

+4

+0.2

1,831

Europe (excluding Germany)

261

388

–127

–32.7

450

Asia/Pacific

64

61

+3

+4.9

53

North America

9

25

–16

–64.0

28

Rest of world

7

2

+5

9

Consolidation

–1

–21

+20

–95.2

–21

DB Group

2,659

2,770

–111

–4.0

2,350

In the regional breakdown of gross capital expenditures, the focus remained on Germany. The increase is mainly due to infrastructure measures and the capitalization of leasing agreements.

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