Development in the first half of 2024
- Operating profit improvements, particularly performance-related improvements at DB Operational Services.
- Digitalization and Group projects advanced.
- The number of employees has risen, primarily in line with performance development.
Subsidiaries/Other | H1 | Change | ||
2024 | 2023 | absolute | % | |
Total revenues (€ million) | 3,407 | 3,119 | +288 | +9.2 |
DB Business Services | 1 | 1 | – | – |
DB Operational Services | 3,889 | 3,575 | +314 | +8.8 |
Other/consolidation | –483 | –457 | –26 | +5.7 |
External revenues (€ million) | 388 | 351 | +37 | +10.5 |
EBITDA adjusted (€ million) | 233 | 207 | +26 | +12.6 |
EBIT adjusted (€ million) | –92 | –95 | +3 | –3.2 |
DB Business Services | –74 | –64 | –10 | +15.6 |
DB Operational Services | 107 | 66 | 41 | +62.1 |
Other | –125 | –97 | –28 | +28.9 |
Gross capital expenditures (€ million) | 530 | 324 | +206 | +63.6 |
DB Business Services | 1 | 1 | – | – |
DB Operational Services | 319 | 224 | +95 | +42.4 |
Other | 210 | 99 | +111 | +112 |
Net capital expenditures (€ million) | 530 | 322 | +208 | +64.6 |
Employees as of Jun 30 (FTE) | 63,133 | 60,447 | +2,686 | +4.4 |
DB Business Services | 11,936 | 11,481 | +455 | +4.0 |
DB Operational Services | 48,562 | 46,403 | +2,159 | +4.7 |
Other | 2,635 | 2,563 | +72 | +2.8 |
Average employees (FTE) | 62,648 | 60,284 | +2,364 | +3.9 |
The increase in total revenues was driven by higher revenues from intra-Group customers of DB Operational Services companies. It resulted primarily from higher demand for solutions for digitalization, cybersecurity, IT and communication (DB Systel and DB Communication Technology), construction projects (primarily DB Rail Construction) and security and cleaning services (DB Security and DB Services). The intra-Group transfer of activities from DB Sales to DB Long-Distance in April 2023 (no full effect in the first half of 2023) had the opposite effect.
Revenues from non-Group customers increased considerably at a low level. This was mainly due to an increase in international project business (DB E.C.O.).
The operating profit of the Subsidiaries/Other area is largely determined by the functions of Group management and the dependent and independent service units that have provided services for the business units. The operating profit figures developed slightly better, as income rose more significantly than expenses, mainly due to increased demand within the Group. The main drivers were DB Rail Construction, DB E.C.O. and DB Systel. DB Vehicle Maintenance developed adversely due to higher expenses for quality improvements and factor cost increases.
Burdens stemmed, among other things, from higher expenses for personnel (as a result of collective bargaining agreements and the increase in the average number of employees) and materials (mainly performance-related; in particular DB Rail Construction, DB Vehicle Maintenance and DB Services). Depreciation also increased significantly due to higher capital expenditures (in particular DB Systel and DB Connect).
The increase in capital expenditures was mainly due to increased effects from the extension and adjustment of existing rental and leasing agreements at DB Real Estate. A fundamentally higher price level also had the effect of increasing capital expenditures. Improved vehicle availability (DB Connect) and higher capital expenditures in the depot infrastructure (DB Vehicle Maintenance) also led to an increase in capital expenditure activity.
The number of employees rose primarily due to an increase in personnel at DB Operational Services companies, in particular at DB E.C.O., DB Systel, DB Rail Construction and DB Security as a result of increasing commissionings and quality measures. Increasing service volumes also led to greater personnel requirements at DB Business Services (including DB Training, DB Personnel Services, Procurement, DB Real Estate, Shared Service Center Accounting). A decline in the number of employees in the intra-Group labor market had a partially offsetting effect.