Development in relevant markets

Demand for train-paths continued to be strong in the first half of 2022, showing growth. Growth continues to be driven by Covid-19 catch-up effects as well as increased traffic in long-distance and freight transport. Growth-impeding effects such as reductions in real income, employment and economic growth, but also supply shortages and declines in production as a result of the war in Ukraine, prevented even stronger growth. Restrictions due to the necessary capital expenditures in the rail network are also reducing capacity in the short-term. Local transport has suffered slight losses, which is partly due to the traffic transitions caused by the Abellio insolvency and the continuing traffic restrictions on the Eifel route and in the Ahr valley as a result of the 2021 floods. The emergency award of the Abellio transports also meant that the intra-Group railways could regain market share.

The number of station stops was at the level of the first half of 2021. The market share of the intra-Group railways in rail passenger transport increased slightly, bucking the long-term trend.