EBIT
| OPERATING PROFIT FIGURES / € million | EBITDA adjusted | EBIT adjusted | |||||||||
H 1 | Change | H 1 | H 1 | Change | H 1 | ||||||
2022 | 2021 | absolute | % | 2019 | 2022 | 2021 | absolute | % | 2019 | ||
DB Long-Distance | 9 | – 975 | + 984 | – | 367 | – 195 | – 1,144 | + 949 | – 83.0 | 224 | |
DB Regiona | 213 | – 43 | + 256 | – | 512 | – 104 | – 359 | + 255 | – 71.0 | 186 | |
DB Cargo 1) | – 99 | – 21 | – 78 | – | 20 | – 299 | – 204 | – 95 | + 46.6 | – 132 | |
DB Netze Track | 834 | 649 | + 185 | + 28.5 | 708 | 496 | 302 | + 194 | + 64.2 | 379 | |
DB Netze Stations | 142 | 67 | + 75 | + 112 | 201 | 61 | – 7 | + 68 | – | 123 | |
DB Netze Energy | 76 | 81 | – 5 | – 6.2 | 65 | 35 | 40 | – 5 | – 12.5 | 23 | |
Other/consolidation Integrated Rail System 1) | – 61 | 52 | – 113 | – | – 156 | – 304 | – 194 | – 110 | + 56.7 | – 376 | |
Integrated Rail System 1) | 1,114 | – 190 | + 1,304 | – | 1,717 | – 310 | – 1,566 | + 1,256 | – 80.2 | 427 | |
DB Arriva | 197 | 166 | + 31 | + 18.7 | 326 | – 8 | – 31 | + 23 | – 74.2 | 101 | |
DB Schenker 1) | 1,486 | 906 | + 580 | + 64.0 | 499 | 1,186 | 620 | + 566 | + 91.3 | 238 | |
| Consolidation other | 7 | 1 | + 6 | – | – 8 | 8 | 2 | + 6 | – | – 9 | |
DB Group | 2,804 | 883 | + 1,921 | – | 2,534 | 876 | – 975 | + 1,851 | – | 757 | |
| Margin (%) | 10.0 | 4.1 | + 5.9 | – | 11.5 | 3.1 | – 4.5 | + 7.6 | – | 3.4 | |
1) Figures for first half of 2021 adjusted due to intragroup reassignment of the FLS business area.
Development in the first half of 2022
Overall, income development was very positive:
- Revenues increased significantly.
- Other operating income also increased. This was partly due, among other things, to higher income from the sale of real estate at DB Netze Track and changes in provisions. Grants increased slightly. Higher income in connection with the Covid-19-related train-path price support (only paid out in the previous year in the second half of 2021) was largely offset by declining government grants at DB Arriva (especially at UK Bus and in the Netherlands) and effects in connection with the repayment of interest-free loans at DB Netze Track.
Expenses also increased significantly, due in particular to the business development at DB Schenker, increased energy costs and higher personnel expenses in the Integrated Rail System, though overall this increase was disproportionately compared to income:
- Cost of materials increased noticeably, primarily due to higher freight rates at DB Schenker. In the Integrated Rail System, the main factors were price- and performance-related increases in expenses for energy and maintenance, as well as higher purchased transport services at DB Cargo. At DB Arriva, higher expenses for energy and rail replacement services, among other things, had a negative impact.
- Personnel expenses also increased. In addition to wage effects, the higher number of employees also impacted the Integrated Rail System. There were additional effects at DB Schenker from the positive development of business operations.
- Other operating expenses increased due, among other things, to a higher demand for IT services. In addition, the intensification of advertising activities to win back customers, which were significantly reduced during the Covid-19 pandemic, and higher rental expenses, in particular for freight cars and in connection with cross-border transport services, increased expenses.
- Depreciation increased slightly due to capital expenditures.
Adjusted EBIT and adjusted EBITDA improved noticeably as a result. Adjusted EBIT was again positive.
- The slightly weaker net operating interest balance resulted from the development of interest rate levels.
Operating income after interest also improved noticeably and was once again positive.
- Net investment income remained at a very low level, and the change was mainly driven by lower losses at GHT Mobility GmbH.
- The significant increase in the other financial result was mainly due to exchange rate effects and the positive development of the fair value of other investments.
- The extraordinary result was roughly at the level of the first half of 2021 and resulted mainly from restructuring measures, effects from the adjustment of provisions (particularly in connection with civil proceedings on infrastructure fees) and transactions with affiliated companies.
| EXTRAORDINARY RESULT / € million | H 1 | ||||
2022 | thereof affecting EBIT | 2021 | thereof affecting EBIT | ||
DB Long-Distance | 0 | 0 | – | ‒ | |
DB Regional | 0 | 0 | 0 | 0 | |
DB Cargo | – 10 | ‒10 | – 19 | –19 | |
DB Netze Track | – 5 | –1 | – 1 | –1 | |
DB Netze Stations | – | – | – | ‒ | |
DB Netze Energy | – | – | – 25 | ‒25 | |
| Other/consolidation Integrated Rail System | – 70 | –70 | – 38 | –38 | |
| Integrated Rail System | – 85 | ‒81 | – 83 | –83 | |
DB Arriva | 0 | 0 | 0 | 0 | |
DB Schenker | 0 | 0 | 0 | 0 | |
| Consolidation other | 0 | 0 | 1 | 1 | |
DB Group | – 85 | ‒81 | – 82 | –82 | |
hereof restructuring measures | ‒71 | ‒71 | ‒61 | ‒61 | |
Profit before taxes was also positive again. The development of the income tax position was weaker:
- Actual income taxes rose due to higher results for some foreign Group companies.
- The somewhat weaker deferred tax income resulted from lower temporary spreads at foreign Group companies.
The net profit (after taxes) also recovered noticeably and was positive.
Outlook: Additional key figures for income, financial and asset situation
| ANTICIPATED DEVELOPMENT / € billion | 2021 | 2022 (Mar forecast) | 2022 (Jul forecast) | |
EBIT adjusted | – 1.6 | >0 | >1 | |
Based on the development to date and the current estimates for the second half of 2022, we have partially adjusted our expectations:
- Driven mainly by DB Schenker, revenues and adjusted net profit and loss will increase significantly more than previously expected.