Development in the first half of 2024
- GDL strikes, major construction-related infrastructure restrictions and the floods in southern Germany had a noticeable impact on development in the first half of 2024.
- Additional burdens on profits resulted, among other things, from tariff effects and increased depreciation due to capital expenditures.
DB Long-Distance | H1 | Change | ||
2024 | 2023 | absolute | % | |
Punctuality (%) | 62.7 | 68.7 | –6.0 | – |
Punctuality (whole journey) (%) | 66.8 | 73.9 | –7.1 | – |
Customer satisfaction (grade) | 2.7 | 2.5 | +0.2 | – |
Passengers (million) | 64.2 | 68.2 | –4.0 | –5.9 |
Volume sold (million pkm) | 20,869 | 21,658 | –789 | –3.6 |
Volume produced (million train-path km) | 79.3 | 77.9 | +1.4 | +1.8 |
Load factor (%) | 45.0 | 47.5 | –2.5 | – |
Total revenues (€ million) | 2,803 | 2,872 | –69 | –2.4 |
External revenues (€ million) | 2,717 | 2,791 | –74 | –2.7 |
EBITDA adjusted (€ million) | 62 | 182 | –120 | –65.9 |
EBIT adjusted (€ million) | –232 | –62 | –170 | – |
Gross capital expenditures (€ million) | 457 | 814 | –357 | –43.9 |
Employees as of Jun 30 (FTE) | 21,526 | 20,501 | +1,025 | +5.0 |
Average employees (FTE) | 21,338 | 19,930 | +1,408 | +7.1 |
The punctuality (train arrival time plus a maximum of 5:59 minutes) of DB Long-Distance has become noticeably poorer compared to the first half of 2023. This was mainly due to the poor state of the infrastructure and the large number of construction measures. In addition, the further increase in capacity restrictions, particularly in the major transport hubs, as well as external events such as the GDL strikes and the floods in southern Germany at the beginning of June 2024 led to impairments in the quality of operations. As a result, punctuality (whole journey; passenger arrival time at destination plus a maximum of 14:59 minutes at the destination station) was also weaker. A decline in vehicle malfunctions coupled with increasing vehicle availability had
a counteracting effect.
After a positive start to the year, customer satisfaction decreased by mid-2024. Poor punctuality and extraordinary issues (including GDL strikes, a longer tunnel closure on the Hanover — Würzburg high-speed line and floods) led to lower customer satisfaction in the first half of 2024. Satisfaction with onboard train service and comfort remained at a good level.
Performance development was mixed in the first half of 2024.
- Number of passengers and volume sold: Noticeable decline, in particular due to the strike measures of the GDL and the construction-related restrictions in the infrastructure, in particular as a result of the renovation of the Rauheberg tunnel with huge increases in travel time between Frankfurt am Main and Hamburg or Berlin.
- Volume produced: Slight increase due to the expansion of supply; this was offset by the GDL strike actions and construction measures.
- Load factor: Decrease due to the strike- and quality-related drop in passenger numbers coupled with an increase in volume produced.
Economic development remains challenging and has deteriorated significantly, particularly due to the difficult operational situation with extensive infrastructure measures. Lower revenues due to strikes and construction work as well as increased expenses led to a noticeable decline in operating profit:
- Revenues (–2.4%/€ –69 million): Decline due to strike and quality effects.
- Other operating income (+8.2%/€ +15 million): Increase partly due to positive effects from the transfer of activities of DB Sales in April 2023. The increase was largely offset by the loss of income from compensation for damage.
Expenses rose markedly, mainly as a result of tariff effects, increased infrastructure utilization costs and higher depreciation.
- Personnel expenses (+14.1%/€ +93 million): The increase was due to tariff effects and a higher number of employees.
- Depreciation (+20.5%/€ +50 million): Significant increase mainly due to vehicle capital expenditures in the previous year.
- Other operational expenses (+9.8%/€ +43 million): Increase mainly due to higher IT expenses as a result of the transfer of activities of DB Sales and for IT projects. Further burdens resulted, among other things, from more extensive passenger support due to the strikes and higher expenses for strategic projects.
The decline in the cost of materials had a partially offsetting effect:
- Cost of materials (–4.1%/€ –73 million): The decline was mainly due to price-related lower energy expenses and lower commission payments as a result of the transfer of activities of DB Sales. This was partly offset in particular by higher price and volume-related expenses for train-path utilization and in connection with the increased construction volume in the network and the GDL strikes (customer service).
Capital expenditures declined significantly, partly due to the completion of individual vehicle projects, including the completion of the delivery of ICE 4 trains, but remained at a high level.
The number of employees had increased as of June 30, 2024, primarily due to the implementation of quality improvement measures. The transfer of employees from DB Sales also increased the average number of employees.