Revenues
REVENUES/ € million | H 1 | Change | H 1 | |||
2022 | 2021 | absolute | % | |||
| Revenues | 27,968 | 21,784 | + 6,184 | + 28.4 | 22,014 | |
Special items | 1 | 2 | – 1 | – 50 | ‒ 1 | |
Revenues adjusted | 27,969 | 21,786 | + 6,183 | + 28.4 | 22,013 | |
thereof Integrated Rail System 1) | 11,727 | 9,530 | + 2,197 | + 23.1 | 10,958 | |
Changes in the scope of consolidation | – 23 | – | – 23 | – | ‒ | |
Exchange rate changes | – 461 | – | – 461 | – | ‒ | |
Revenues comparable | 27,485 | 21,786 | + 5,699 | + 26.2 | 22,013 | |
thereof Integrated Rail System 1) | 11,722 | 9,530 | +2,192 | +23.0 | 10,958 | |
1) Figures for first half of 2021 adjusted due to the intragroup reaassignment of the FLS business area.
The increase in revenue was broadly supported across all business units. Freight rate development at DB Schenker had a very significant effect. So, too, the business units in the Integrated Rail System recorded higher revenues, which also exceeded the pre-Covid-19 level overall. The main drivers were the recovery in demand at DB Long-Distance, higher concession fees and new transport services at DB Regional, market-related price effects at DB Netze Energy and growth at DB Cargo.
Revenues at DB Arriva increased slightly, mainly as a result of Covid-19 recovery effects and exchange rate effects. Reduced Government support measures had a dampening effect.
Special items continued to be irrelevant for the revenue development.
Changes in the scope of consolidation and exchange rate changes also had no material impact:
- The effects of changes in the scope of consolidation related to DB Schenker (€ +21 million) and DB Netze Track (€ +2 million).
- The effects of exchange rate changes applied primarily to DB Schenker (€ +429 million) and DB Arriva (€ +29 million).
* Figures for first half of 2021 adjusted due to the Uintragroup reassignment of the FLS business area.
TRANSITION TO THE ADJUSTED | H 1 | Change | H 1 | ||||||||
2022 | Reclassifi- | Adjustment | 2022 | 2021 | absolute | thereof due | thereof due to | % | 2019 | ||
Revenues | 27,968 | – | 1 | 27,969 | 21,786 | +6,183 | +23 | +461 | +28.4 | 22,013 | |
Inventory changes and other internally | 1,923 | – | – | 1,923 | 1,805 | +118 | +1 | –0 | +6.5 | 1,490 | |
Other operating income | 1,710 | – | –1 | 1,709 | 1,403 | +306 | +1 | +4 | +21.8 | 1,116 | |
Cost of materials | –16,502 | – | – | –16,502 | –12,682 | –3,820 | –5 | –315 | +30.1 | ‒10,876 | |
Personnel expenses | –10,029 | – | 71 | –9,958 | –9,349 | –609 | –12 | –67 | +6.5 | ‒8,902 | |
Other operating expenses | –2,343 | – | 6 | –2,337 | –2,080 | –257 | –3 | –24 | +12.4 | ‒2,307 | |
EBITDA | 2,727 | – | 77 | 2,804 | 883 | +1,921 | +5 | +59 | – | 2,534 | |
Depreciation | –1,946 | 14 | 4 | –1,928 | –1,858 | –70 | –5 | –7 | +3.8 | ‒1,777 | |
Operating profit/loss (EBIT) | EBIT adjusted | 781 | 14 | 81 | 876 | –975 | +1,851 | +0 | +52 | – | 757 | |
Net interest income | net operating | –184 | –59 | 4 | –239 | –235 | –4 | +0 | –1 | +1.7 | ‒333 | |
Operating income after interest | 597 | –45 | 85 | 637 | –1,210 | +1,847 | +0 | +51 | – | 424 | |
Result from investments accounted for using | –2 | – | – | –2 | –4 | +2 | – | –0 | –50.0 | ‒ | |
Other financial result | 87 | 59 | – | 146 | 7 | +139 | +0 | +2 | – | ‒18 | |
PPA amortization customer contracts | – | –14 | – | –14 | –17 | +3 | – | +0 | –17.6 | ‒32 | |
Extraordinary result | – | – | –85 | –85 | –82 | –3 | – | –0 | +3.7 | ‒97 | |
Net profit/loss before taxes | 682 | – | – | 682 | –1,306 | +1,988 | +0 | +53 | – | 277 | |
Taxes on income | –258 | – | – | –258 | –122 | –136 | – | –13 | +111 | ‒72 | |
Actual taxes on income | –262 | – | – | –262 | –135 | –127 | – | – | +94.1 | ‒90 | |
Deferred tax expense (–)/income (+) | 4 | – | – | 4 | 13 | –9 | – | – | –69.2 | 18 | |
Net profit/loss (after taxes) | 424 | – | – | 424 | –1,428 | +1,852 | +0 | +40 | – | 205 | |
DB AG shareholders | 400 | – | – | 400 | –1,443 | +1,843 | – | – | – | 198 | |
Hybrid capital investors | 13 | – | – | 13 | 13 | – | – | – | – | – | |
Other shareholders | 11 | – | – | 11 | 2 | +9 | – | – | – | 7 | |
The revenue structure did not change significantly in the first half of 2022.
EXTERNAL REVENUES ADJUSTED | H 1 | Change | H 1 | |||
2022 | 2021 | absolute | % | |||
| Germany | 14,051 | 11,254 | + 2,797 | + 24.9 | 12,457 | |
| Europe (excluding Germany) | 8,121 | 6,673 | + 1,448 | + 21.7 | 6,836 | |
| Asia/Pacific | 3,120 | 2,213 | + 907 | + 41.0 | 1,504 | |
| North America | 2,208 | 1,285 | + 923 | + 71.8 | 947 | |
| Rest of world | 469 | 361 | + 108 | + 29.9 | 269 | |
DB Group | 27,969 | 21,786 | + 6,183 | + 28.4 | 22,013 | |
Overall, regional revenue development was positive:
- In Germany, in addition to the development in the Integrated Rail System, significant revenue growth at DB Schenker also had an impact.
- The positive revenue development in the other regions was driven by the performance of DB Schenker.