EBIT
EBIT
Operating profit figures / € million | EBITDA adjusted | EBIT adjusted | ||||||
H 1 | Change | H 1 | Change | |||||
2024 | 2023 | absolute | % | 2024 | 2023 | absolute | % | |
DB Long-Distance | 62 | 182 | –120 | –65.9 | –232 | –62 | –170 | – |
DB Regional | 264 | 295 | –31 | –10.5 | –66 | –38 | –28 | +73.7 |
DB Cargo | –53 | 16 | –69 | – | –261 | –195 | –66 | +33.8 |
DB InfraGO | –277 | 191 | –468 | – | –712 | –234 | –478 | – |
DB Energy | 230 | 348 | –118 | –33.9 | 192 | 310 | –118 | –38.1 |
Other | 233 | 207 | +26 | +12.6 | –92 | –95 | +3 | –3.2 |
Consolidation Integrated Rail System | –65 | –62 | –3 | +4.8 | –25 | –25 | – | – |
Integrated Rail System | 394 | 1,177 | –783 | –66.5 | –1,196 | –339 | –857 | – |
DB Schenker | 908 | 1,011 | –103 | –10.2 | 520 | 626 | –106 | –16.9 |
Consolidation other 2) | –1 | –10 | +9 | –90.0 | –1 | –8 | +7 | –87.5 |
DB Group 2) | 1,301 | 2,178 | –877 | –40.3 | –677 | 279 | –956 | – |
Margin (%) | 5.8 | 9.5 | –3.7 | – | –3.0 | 1.2 | –4.2 | – |
DB Group (incl. discontinued operations) | 1,474 | 2,365 | –891 | –37.7 | –615 | 322 | –937 | – |
thereof discontinued operations | 173 | 187 | –14 | –7.5 | 62 | 43 | +19 | 44.2 |
Adjusted EBIT and adjusted EBITDA declined noticeably as a result.
- Operating interest balance (+39.4 %/€ –112 million): Negative development resulted from the higher interest rate level and higher average financial debt.
Operating income after interest also fell noticeably.
- Net investment income (+33.3 %/€ +2 million): Increase at a low level.
- Other financial result (€ +35 million): Significant increase at a low level, mainly due to exchange rate effects and positive effects from closed hedging transactions, which on balance resulted in a lower expense than in the first half of 2023. Conversely, negative effects from the compounding and discounting of provisions, which resulted in an expense on balance (in the first half of 2023: income), as well as impairments on subsidiaries had a partially offsetting effect.
- Extraordinary result (€ –113 million): Decreased significantly and was negative, primarily due to the omission of positive effects in connection with the electricity price brake in the first half of 2024 as well as higher restructuring costs at DB Schenker. Positive effects resulted from adjustments to provisions at DB Cargo.
Extraordinary result / € million | H 1 | |||
2024 | thereof affecting EBIT | 2023 | thereof affecting EBIT | |
DB Long-Distance | – | ‒ | 94 | 94 |
DB Regional | 0 | 0 | –4 | ‒4 |
DB Cargo | 15 | 15 | 21 | 21 |
DB InfraGO | –5 | ‒ | –7 | ‒2 |
DB Energy | – | – | – | ‒ |
Other/consolidationIntegrated Rail System | –76 | ‒78 | –76 | ‒76 |
Integrated Rail System | –66 | ‒63 | 28 | 33 |
DB Schenker | –17 | –17 | 1 | 1 |
Consolidation other | – | ‒ | 0 | 0 |
DB Group 1) | –84 | ‒80 | 29 | 34 |
thereof electricity price brake | ‒ | ‒ | 142 | 142 |
thereof restructuring measures | ‒63 | ‒63 | ‒66 | ‒66 |
1) Value for the first half of 2023 adjusted due to reclassification of DB Arriva.
Accordingly, the loss before income taxes also increased significantly.
Although the development of the income tax position (‒36.1%/€ +52 million) was significantly better, it nevertheless had a negative impact on development:
- Actual income taxes were decisive for the development and decreased due to declining results at some foreign Group companies (especially at DB Schenker).
- Deferred taxes continued to decline at low levels.
As a result, net loss after income taxes from continuing operations increased somewhat less significantly but remained noticeably negative. Net loss after income taxes from discontinued operations also worsened (first half of 2023: net profit). This was mainly due to the loss on disposal in connection with the deconsolidation of DB Arriva, which was largely offset by positive depreciation effects in connection with IFRS 5 accounting and the profit development of DB Arriva up to the deconsolidation date.