Other disclosures
Increase in property, plant and equipment
DB Group’s property, plant and equipment increased significantly, particularly as a result of increased capital expenditures by DB InfraGO AG in connection with the modernization of the rail infrastructure. This development was also due to the fact that the Federal Government provided a significant amount of financing this year for maintenance expenses or equity increases, and only to a lesser extent as investment grants deductible from property, plant and equipment.
DB Cargo profit and loss transfer agreement terminated
Due to the conditions of the decision in the EU state aid proceedings, the existing profit and loss transfer agreement with DB Cargo AG was terminated as of December 31, 2024.
First hybrid bond called
The first hybrid bond was called and repaid in full in the first half of 2025.
Bond repayment
A maturing senior bond of Deutsche Bahn Finance GmbH (which was merged into DB AG in the first half of 2025 with retroactive effect from January 1, 2025) in the amount of NOK 1,500 million was repaid as of June 30, 2025.
Number of issued shares
The number of issued shares was unchanged at 430,000,000 as of June 30, 2025.
DB AG capital increase
In December 2024, the Federal Government and DB Group concluded an agreement that provides for an increase in DB AG’s equity of about € 8.5 billion in 2025 for the purpose of modernizing the rail network. The first tranche of € 4.24 billion was paid out to DB AG on March 4, 2025. These funds will be used exclusively for infrastructure and were transferred to DB InfraGO AG to increase equity.
Changes in the Management Board
On May 6, 2025, Dr. Levin Holle (Finance and Logistics) resigned from the Management Board of DB AG at his own request in order to take up a senior position in the Federal Chancellery. The Supervisory Board of DB AG acknowledged his resignation on the same day.
Berlin, July 25, 2025
Deutsche Bahn Aktiengesellschaft
The Management Board