Development in the first half 2021
- Recovery effects after Covid-19-related charges in the first half of 2020.
- Increased capital expenditures in traction current supply.
- High reliability of supply ensured even during the Covid-19 pandemic.
DB Netze Energy | H1 | Change | H1 2019 | |||
2021 | 2020 | absolute | % | |||
| Supply reliability (%) | 99.99 1) | 99.99 1) | – | – | 99.99 1) | |
| Traction current (16.7Hz and direct current) (GWh) | 3,712 | 3,457 | +255 | +7.4 | 4,031 | |
| Traction current pass-through (16.7Hz) (GWh) | 1,168 | 976.7 | +191,3 | +19.6 | 717.9 | |
| Stationary energy (50 Hz and 16.7Hz) (GWh) | 6,835 | 6,981 | –146 | –2.1 | 7,268 | |
| Diesel fuel (million l) | 195.8 | 185.5 | +10.3 | +5.6 | 208.3 | |
| Total revenues (€ million) | 1,458 | 1,309 | +149 | +11.4 | 1,410 | |
| External revenues (€ million) | 695 | 601 | +94 | +15.6 | 640 | |
EBITDA adjusted (€ million) | 81 | 60 | +21 | +35.0 | 65 | |
EBIT adjusted (€ million) | 40 | 16 | +24 | +150 | 23 | |
| Gross capital expenditures (€ million) | 127 | 68 | +59 | +86.8 | 67 | |
| Net capital expenditures (€ million) | 38 | 21 | +17 | +81.0 | 23 | |
| Employees as of Jun 30 (FTE) | 1,890 | 1,804 | +86 | +4.8 | 1,747 | |
1) Preliminary figure (not rounded).
The high level of supply reliability was maintained.
Volume development was predominantly positive primarily as a result of recovery effects after the Covid-19-related decline in the first half of 2020:
- Sales of traction current increased above all as a result of higher demand from intra-Group customers.
- Traction current pass-through increased for non-Group customers. In addition to recovery effects, additional traffic led to an increase.
- In stationary energy, electricity sales fell slightly. The decline resulted from the omission of portfolio optimization measures on the energy market. Catch-up effects and the growth of the private client business were not able to fully compensate for this decline.
- The increased demand for diesel fuels is primarily due to intra-Group customers in regional and freight transport.
The economic development was very positive. The growth on the sales side was only offset to a lesser extent by higher energy purchase expenses. As a result of the income increases, operating profit figures also improved significantly above the pre-Covid-19 level.
- Revenues increased primarily as a result of volume-related increases in traction current sales. Higher sales volumes and prices of diesel fuel and higher prices in energy trading also had a positive effect.
- The increase in other operating income (+13.8%/€ +4 million) resulted mainly from higher income for internal services. This was counteracted by lower income from the release of provisions in the first half of 2021.
On the expense side, there were additional overall burdens in the cost of materials, mainly as a result of the recovery in demand:
- Cost of materials increased significantly (+11.0%/€ +128 million) due to the recovery in demand. Increased sales volumes and higher procurement prices in particular led to higher energy expenses.
- Personnel expenses (+9.0%/€ +6 million) increased significantly as a result of a higher number of employees.
- Depreciation (–6.8%/€ –3 million), in contrast, declined slightly, mainly due to the omission of negative one-off effects in the first half of 2020.
- Other operating expenses (–%/€ – million) remained at the previous year’s level.
Capital expenditures increased significantly as a result of an increased volume under LuFV III. Net capital expenditures also increased as a result of higher proportions of DB funds in LuFV-financed projects and a one-off effect from the capitalization of a lease contract.
The number of employees increased, primarily in order to implement the higher project volume from LuFV III and through insourcing of future IT services.