Development in the first half of 2024
- Declining sales volumes in stationary energies (industrial customer business), traction current and diesel, as well as strikes by the GDL, had a negative impact on revenue development.
- Operating profit negatively impacted by lower contribution margins in traction current.
- Supply reliability stable at a high level.
DB Energy | H1 | Change | ||
2024 | 2023 | absolute | % | |
Supply reliability (%) | 99.99 1) | 99.99 1) | – | – |
Traction current (16.7 Hz and direct current) in GWh | 3,586 | 3,717 | –131 | –3.5 |
Traction current pass-through (16.7 Hz) in GWh | 1,451 | 1,258 | +193 | +15.3 |
Stationary energies (50 Hz and 16.7 Hz) in GWh | 3,424 | 4,182 | –758 | –18.1 |
Diesel fuel (million l) | 173.2 | 186.4 | –13.2 | –7.1 |
Total revenues (€ million) | 1,830 | 2,136 | –306 | –14.3 |
External revenues (€ million) | 715 | 961 | –246 | –25.6 |
EBITDA adjusted (€ million) | 230 | 348 | –118 | –33.9 |
EBIT adjusted (€ million) | 192 | 310 | –118 | –38.1 |
Gross capital expenditures (€ million) | 125 | 116 | +9 | +7.8 |
Net capital expenditures (€ million) | 42 | 37 | +5 | +13.5 |
Employees as of Jun 30 (FTE) | 2,139 | 1,958 | +181 | +9.2 |
Average employees (FTE) | 2,103 | 1,942 | +161 | +8.3 |
1) Preliminary figure (not rounded).
The high level of supply reliability was maintained.
Volume development was mixed:
- Traction current: Sales decreased, mainly due to lower demand in rail freight and regional transport, particularly in the case of intra-Group customers. The GDL strikes had an additional negative impact.
- Traction current pass-through for non-Group customers: The significant increase mainly reflects traffic growth and a shift from traction current.
- Stationary energy: The significant decline was driven by portfolio adjustments in the industrial customer business.
- Diesel fuels: The decline in demand was mainly due to developments in rail freight and regional transport, particularly among intra-Group customers.
Economic development was weaker than in the first half of 2023, but remained clearly positive. Lower income was only partially offset by lower expenses. As a result, operating profit figures fell significantly.
Income decreased noticeably due to both performance and price factors:
- Revenues (–14.3%/€ –306 million): The revenue development was primarily driven by declining volumes in the supply of stationary energy to non-Group customers and in traction energy. In addition, lower revenues from the provision of CO₂ certificates reduced income.
- Other operating income (–94.4%/€ –289 million): The very sharp decline was due to the discontinuation of refunds in connection with the electricity price brake. These were passed on in full to customers in the first half of 2023 through sales price reductions.
On the expense side, there was a volume- and price-related decline in the cost of materials in particular:
- Cost of materials (–24.6%/€ –484 million): Lower volumes for traction current and stationary energies as well as falling energy procurement prices, particularly for traction current, reduced expenses.
- Other operating expenses and depreciation: On the level of the first half of 2023.
The increase in personnel expenses had an offsetting effect:
- Personnel expenses (+14.3%/€ +11 million): The additional expenses resulted from the increased number of employees and tariff effects.
Gross capital expenditures in the traction current infrastructure increased and are aimed in particular at further improving quality, strengthening resilience and making the energy supply greener. Investment grants grew less significantly than net capital expenditures.
The number of employees has risen in view of the higher volume of capital expenditures in infrastructure, compliance with legal and regulatory requirements and measures in IT and operational technology (OT) security.