Development in the first half of 2024
- GDL strikes have a significant negative effect on volume produced and revenues.
- Nevertheless, revenues increased due to price adjustments.
- Increased maintenance activities and capital expenditure measures in the existing network to improve quality put a heavy strain on profits.
- Government maintenance expense support will only take effect in the second half of 2024.
DB INFRAGO | H1 | Change | ||
2024 | 2023 | absolute | % | |
Punctuality DB Group (rail) in Germany (%) | 89.9 | 91.7 | –1.8 | – |
Punctuality (rail) in Germany 1) (%) | 88.8 | 90.7 | ‒ 1.9 | – |
Facilities quality of railway stations (grade) | 2.78 2) | 2.77 2) | +0.01 | – |
Train kilometers on track infrastructure (million train-path km) | 547.6 | 557.5 | –9.9 | –1.8 |
thereof non-Group railways | 223.4 | 217.5 | +5.9 | +2.7 |
Share of non-Group railways (%) | 40.8 | 39.0 | +1.8 | – |
Station stops (million) | 80.4 | 79.6 | +0.8 | +1.0 |
thereof non-Group railways | 24.7 | 23.8 | +0.9 | +3.8 |
Total revenues (€ million) | 4,021 | 3,870 | +151 | +3.9 |
thereof train-path revenues | 3,050 | 2,949 | +101 | +3.4 |
thereof stations | 553 | 535 | +18 | +3.4 |
thereof station marketing | 223 | 206 | –17 | +8.3 |
External revenues (€ million) | 1,507 | 1,407 | +100 | +7.1 |
Share of total revenues (%) | 37.5 | 36.4 | +1.1 | – |
EBITDA adjusted (€ million) | –277 | 191 | –468 | – |
EBIT adjusted (€ million) | –712 | –234 | –478 | – |
Gross capital expenditures (€ million) | 5,628 | 4,259 | +1,369 | +32.1 |
Net capital expenditures (€ million) | 2,429 | 1,155 | +1,274 | +110 |
Employees as of Jun 30 (FTE) | 66,776 | 61,632 | +5,144 | +8.3 |
Average employees (FTE) | 65,667 | 60,794 | +4,873 | +8.0 |
1) Non-Group and DB Group train operating companies.
2) Preliminary figure (not rounded).
Punctuality was weaker in the first half of 2024, mainly due to the strained overall infrastructure situation. In particular, the poor state of facilities, with a large number of superstructure faults and restricted speed sections as well as a persistently high construction volume, reduced infrastructure capacity and thus impaired the quality of operations. High traffic density on bottleneck routes continued to exacerbate the situation. External events such as strikes by the GDL, flooding in southern Germany at the beginning of June 2024 as well as a high number of interventions in rail operations by third parties and activities of public authorities placed an additional burden on the development.
The facilities quality of the stations was at the level of the first half of 2023.
Performance development varied:
- Train-path demand: Slight decline overall, mainly due to higher strike-, weather- and construction-related restrictions and a lack of economic impetus. Demand from non-Group customers increased, resulting in particular from the takeover of rail freight and regional transport services. A decline was recorded among intra-Group customers, driven by DB Regional and DB Cargo.
- Station stops: Slight increase due to additional regional traffic.
Economic development was particularly strained as a result of significantly higher expenses, especially for maintenance. The Government did not yet reimburse the pre-financings from 2023 in the first half of 2024.
Income development was significantly weaker overall:
- Revenues (+3.9%/€ +151 million): Slight increase due to price adjustments, which was dampened by declining volumes as a result of strikes and construction work.
- Other operating income (+3.5%/€ +15 million): Increase due to higher Government grants and higher services for third parties, which correlated with higher expenses. Lower income from the sale of real estate had a dampening effect.
On the expense side, there were noticeable additional burdens, particularly for maintenance and quality improvement measures as well as cost increases:
- Cost of materials (+18.3%/€ +356 million): The sharp increase is mainly due to significantly increased maintenance services (particularly in connection with the rectification of individual faults). There was also an increase in expenses for purchased services, including transportation and security services (in particular services provided by DB Security in connection with the KRITIS project). Price- and volume-related lower energy expenses had a partially offsetting effect.
- Personnel expenses (+14.6%/€ +312 million): Increase due to the higher number of employees and as a result of collective bargaining agreements.
- Other operating expenses (+18.3%/€ +170 million): Significant increase due to higher purchased IT and other services, higher expenses for rent, quality improvement measures and cost increases.
- Depreciation (+2.4%/€ +10 million): Increase due to capital expenditures.
Capital expenditures increased significantly, mainly as a result of higher capital expenditures in the existing network.
The number of employees has risen significantly to cover demand and ensure succession planning, particularly in the areas of maintenance, construction projects and operations, as well as in the passenger stations line of business.