Capital expenditures
Capital expenditures
Capital expenditures / € million | H 1 | Change | ||
2024 | 2023 | absolute | % | |
Gross capital expenditures 1) | 7,305 | 6,176 | +1,129 | +18.3 |
thereof Integrated Rail System | 7,055 | 5,852 | +1,203 | +20.6 |
Investment grants 1) | 3,289 | 3,199 | +90 | +2.8 |
thereof Integrated Rail System | 3,289 | 3,195 | +94 | +2.9 |
Net capital expenditures 1) | 4,016 | 2,977 | +1,039 | +34.9 |
thereof Integrated Rail System | 3,766 | 2,657 | +1,109 | +41.7 |
For information only: | ||||
Government equity injections to finance infrastructure capital expenditures | 3,020 | ‒ | +3,020 | ‒ |
1) Value for the first half of 2023 adjusted due to reclassification of DB Arriva.
- Gross capital expenditures were substantially driven by higher capital expenditures to improve the quality and availability of the track infrastructure in the Integrated Rail System. In rail freight and regional passenger transport, capital expenditures in the vehicle fleet were roughly at the level of the first half of 2023. At DB Long-Distance, overall capital expenditures decreased significantly as a result of the completion of vehicle projects. DB Schenker’s capital expenditure activities (especially leasing activities) in Europe, America and Asia) also declined.
- Investment grants, which in the first half of 2024 were exclusively attributable to the Integrated Rail System, rose slightly as a result of higher capital expenditures in track infrastructure. They accounted for about 45% of gross capital expenditures (first half of 2023: about 52%).
- As a result of the decision by the Federal Government to provide funds for capital expenditures in the rail network from 2024 onwards, also through equity increases, net capital expenditures from 2024 onwards thus also include measures that do not have to be covered by the internal and external financing of DB Group.
- Net capital expenditures increased significantly, driven by the development of the Integrated Rail System. This was primarily due to the implementation of additional measures to improve the quality and availability of infrastructure, particularly at DB InfraGO. In contrast, lower vehicle capital expenditures at DB Long-Distance had a partly compensatory effect.
- Adjusted for the effect of the additional capital expenditure as a result of the Federal Government’s equity increases, net capital expenditures declined significantly. In the first half of 2023, measures were included that were pre-financed for the Federal Government. The pre-financing was replaced as part of equity injection in June 2024.
The focus of our capital expenditure activities continues to center on the Integrated Rail System for measures to improve performance capability, efficiency and quality in the area of track infrastructure as well as measures to expand our vehicle fleet.
Values for the first half of 2023 adjusted due to reclassification of DB Arriva.