Development in the first half of 2023
- Demand trend more or less stable.
- Rental business continues to recover impressively after Covid-19-related restrictions.
- Additional burdens, among others due to price increases, especially for energy and maintenance.
- Measures implemented to save energy and to improve quality and customer satisfaction.
DB Netze Stations | H 1 | Change | H 1 2019 | ||
2023 | 2022 | absolute | % | ||
Facilities quality (grade) | 2.77 1) | 2.78 1) | –0.01 | – | 2.89 |
Station stops (million) | 77.8 | 77.7 | +0.1 | +0.1 | 76.2 |
thereof non-Group railways | 23.5 | 21.9 | +1.6 | +7.3 | 19.4 |
Total revenues (€ million) | 732 | 697 | +35 | +5.0 | 680 |
thereof station revenues (€ million) | 509 | 495 | +14 | +2.8 | 451 |
thereof rental (€ million) | 194 | 181 | +13 | +7.2 | 204 |
External revenues (€ million) | 339 | 300 | +39 | +13.0 | 303 |
EBITDA adjusted (€ million) | 89 | 142 | –53 | –37.3 | 201 |
EBIT adjusted (€ million) | 6 | 61 | –55 | –90.2 | 123 |
Gross capital expenditures (€ million) | 556 | 490 | +66 | +13.5 | 397 |
Net capital expenditures (€ million) | 254 | 245 | +9 | +3.7 | 216 |
Employees as of Jun 30 (FTE) | 7,316 | 6,992 | +324 | +4.6 | 6,002 |
Average employees (FTE) | 7,170 | 6,955 | +215 | +3.1 | 5,936 |
1) Preliminary figure (not rounded).
Facilities quality was at the level of the first half of 2022.
Station stops were at the level of the first half of 2022. Positive effects mainly resulted from increased traffic from non-Group customers. Lower demand due to strikes and restrictions due to construction work had a counterbalancing effect.
Economic development was weaker. Although revenues grew significantly, stronger increases in expenses led to a significant decline in operating profit figures, partly as a result of the implementation of additional measures to increase quality and capacity. Other drivers were additional burdens due, among other things, to higher energy and maintenance expenses due to price effects. The further recovery in rental business as well as price effects drove the income development and had a partly compensatory effect on the contrary:
- Revenues: Growth can be attributed in particular to a progressing recovery in the rental business following Covid-19-related losses and to an indexed, price-related increase in station usage fees. Drivers were non-Group customers due to takeover of traffic.
- Other operating income: Slight increase (+4.3%/€ +3 million). Growth, particularly in the marketing of advertising space to non-Group customers and from the reversal of provisions, was partially offset by lower grants due to the reporting date.
On the expense side, there were considerable additional burdens, in particular from cost of materials and personnel expenses:
- Cost of materials: Significant increase (+16.9%/€ +55 million) resulted mainly from higher energy expenses due to price and quantity (partial compensatory effects from the electricity price brake are reported in the extraordinary result). In addition, expenses for measures to improve quality at our stations and for project-related maintenance increased.
- Other operating expenses: Increase (+25.0%/€ +31 million) resulted mainly from the Group levy introduced in the first half of 2023 and from increased expenses for IT projects. In addition, among other things, the increase in travel activity and higher other personnel-related costs led to additional burdens.
- Personnel expenses: Slight increase (+3.0%/€ +7 million), mainly as a result of a higher number of employees.
- Depreciation: Capital expenditure-related increase (+2.5%/€ +2 million).
Gross capital expenditures increased significantly, mainly as a result of the modernization of existing transport stations and the construction of new ones. In addition, increased construction costs had an impact. With increased investment grants, net capital expenditures increased less significantly.
The number of employees increased as a result of an increase in staff, particularly in the construction and plant management sectors, in order to be able to implement higher investment volumes.