Additional key figures for
the income situation, financial
position and net assets
Anticipated development / € billion | 2023 | 2024 (Mar forecast) | 2024 (Jul forecast) |
Revenues adjusted | 45.2 | ~ 47 | ~ 45 |
EBIT adjusted | ‒ 1.0 | >1 | ~ 1 |
Gross capital expenditures | 16.9 | ~ 21 | ~ 21 |
Net capital expenditures | 7.6 | >11 | ~ 11 |
Maturities | 2.4 | 2.1 | 2.1 |
Bond issues (senior) | 3.0 | >1 | ~ 2 |
Net financial debt as of Dec 31 | 34.0 | ~ 34 | < 34 |
The additional Government grants affecting income, particularly those for infrastructure maintenance measures, single wagon transport at DB Cargo and the reimbursement of the previous year’s pre-financings have not yet been implemented in the first half of 2024. We expect to see the implementation in the fourth quarter of 2024. We also expect a further capital increase from the Federal Government in the second half of 2024 amounting to € 2.5 billion.
Based on the development to date and the current estimates for the second half of 2024, we have partially adjusted our expectations:
- Driven mainly by the development of freight rates at DB Schenker and the performance development in long-distance rail passenger transport and rail freight transport, we now expect revenues to be at the same level as in the previous year.
- The profit development in the first half of 2024 was significantly weaker than expected, due mainly to strikes. In the further course of 2024, however, we expect that the reimbursement of the pre-financings for maintenance measures from the previous year, the implementation of the support for infrastructure maintenance expenses and single wagon transport at DB Cargo from the Federal Government, the omission of negative effects from the first half of 2024 and positive effects from the implementation of countermeasures, such as the strict spending monitoring and control program, will lead to a significantly more positive development. Nonetheless, operating profit is likely to be slightly lower than previously expected.
The opportunities and risks existing as of June 30, 2024, for the EBIT forecast for the 2024 financial year are set out in the Opportunity and risk report.