Development in the first half of 2022
- Personnel expenses increased as a result of a higher number of employees and as a result of collective bargaining agreements.
- Digitalization and Group projects were pressed ahead with.
- Operating loss increased.
SUBSIDIARIES/OTHER | H 1 | Change | H 1 | |||
2022 | 2021 | absolute | % | |||
Total revenues (€ million) | 2,790 | 2,616 | + 174 | + 6.7 | 2,398 | |
DB Business Services | 0 | 2 | – 2 | – 100 | 31 | |
DB Operational Services | 3,213 | 3,003 | + 210 | + 7.0 | 2,759 | |
Other/consolidation | – 423 | – 389 | – 34 | + 8.7 | – 392 | |
External revenues (€ million) | 314 | 270 | + 44 | + 16.3 | 280 | |
EBITDA adjusted (€ million) | – 49 | 14 | – 63 | – | – 119 | |
EBIT adjusted (€ million) | – 328 | – 263 | – 65 | + 24.7 | – 366 | |
DB Business Services | – 38 | – 36 | – 2 | + 5.6 | – 36 | |
DB Operational Services | – 22 | 23 | – 45 | – | – 59 | |
Other | – 268 | – 250 | – 18 | + 7.2 | – 271 | |
Gross capital expenditures (€ million) | 290 | 327 | – 37 | – 11.3 | 318 | |
DB Business Services | 1 | 3 | – 2 | – 66.7 | 2 | |
DB Operational Services | 164 | 169 | – 5 | – 3.0 | 202 | |
Other | 125 | 155 | – 30 | – 19.4 | 114 | |
Net capital expenditures (€ million) | 286 | 327 | – 41 | – 12.5 | 318 | |
Employees as of Jun 30 (FTE) | 58,975 | 58,187 | + 788 | + 1.4 | 54,926 | |
DB Business Services | 11,573 | 11,636 | – 63 | – 0.5 | 11,907 | |
DB Operational Services | 44,937 | 43,984 | + 953 | + 2.2 | 40,576 | |
Other | 2,465 | 2,567 | – 102 | – 4.0 | 2,443 | |
Average employees (FTE) | 58,657 | 58,124 | + 533 | + 0.9 | 54,502 | |
The increase in total revenues was driven by higher revenues from intra-Group customers of DB Operational Services companies. This resulted mainly from a higher demand for digitalization and cyber security solutions (DB Systel), for construction projects (DB Bahnbau) and vehicle projects (DB Vehicle Maintenance). In addition, the performance of DB Sales, DB Connect, DB Services and DB Security improved as a result of the recovery in demand for passenger transport.
Revenues from non-Group customers increased considerably at a low level. This was mainly the result of recovery-related growth at DB Sales and an increase in project business at the DB Bahnbau Group. This was partly offset by declines in the DB E.C.O. Group project business.
The operating profit figures in the Other area are significantly affected by corporate management functions performed for the business units. There is no cost transfer to the business units by means of Group charges. The operating profit figures adjusted EBITDA and adjusted EBIT were significantly weaker, as growth in income did not keep up with the increase in expenses.
Burdens resulted in part from higher expenses for personnel (mainly as a result of collective bargaining agreements), an increased need for internal services (DB Systel), higher energy costs and higher effects from the impairment of warehouse material (DB Vehicle Maintenance). Rental expenses were also above the level of the first half of 2021. Seasonal fluctuations, mainly in the construction project business, also had a negative effect. Countermeasures and the positive business development, including at DB Systel and DB Connect, could partly offset the effects.
The decline in capital expenditures resulted mainly from less significant effects overall from extensions and amendments of existing rental and lease contracts at DB Real Estate. Delivery shortages of vehicles led to less capital expenditure activities at DB Connect.
The number of employees increased, driven mainly by increased personnel at DB Operational Services companies, in particular in the DB E.C.O. Group, DB Systel, DB Vehicle Maintenance and DB Security resulting from expanded digitalization and quality measures, additional security requirements and an increase in the vertical range of production. In contrast, the number of employees working for DB Sales and the human resources service providers of DB Group fell. The number of employees at Group headquarters also fell.