Development in the first half of 2025
- Price adjustments, the omission of strike effects from the first half of 2024, and expense grants from the Federal Government led to a significant improvement in profits.
- Additional burdens resulted from increased maintenance measures to improve quality, higher operational and infrastructure-related compensation payments to TOCs, wage effects and an increase in the number of employees.
| DB InfraGO | H1 | Change | ||
|---|---|---|---|---|
| 2025 | 2024 | absolute | % | |
| Punctuality DB Group (rail) in Germany (%) | 89.4 | 89.9 | –0.5 | – |
| Punctuality (rail) in Germany 1) (%) | 88.1 | 88.8 | –0.7 | – |
| Facilities quality (stations) (grade) | 2.78 2) | 2.78 2) | ‒ | – |
| Train kilometers on track infrastructure (million train-path km) | 553.8 | 547.6 | +6.2 | +1.1 |
| thereof non-Group railways | 227.0 | 223.4 | +3.6 | +1.6 |
| Share of non-Group railways (%) | 41.0 | 40.8 | +0.2 | – |
| Station stops (million) | 79.9 | 80.4 | –0.5 | –0.6 |
| thereof non-Group railways | 24.2 | 24.7 | –0.5 | –2.0 |
| Total revenues 3) (€ million) | 4,319 | 4,087 | +232 | +5.7 |
| thereof train-path revenues | 3,421 | 3,050 | +371 | +12.2 |
| thereof stations | 430 | 554 | –124 | –22.4 |
| thereof station marketing | 223 | 188 | +35 | +18.6 |
| External revenues 3) (€ million) | 1,588 | 1,522 | +66 | +4.3 |
| Share of total revenues (%) | 36.8 | 37.2 | –0.4 | – |
| EBITDA adjusted 3) (€ million) | 333 | –261 | +594 | – |
| EBIT adjusted 3) (€ million) | –204 | –700 | +496 | –70.9 |
| Gross capital expenditures 3) (€ million) | 6,007 | 5,635 | +372 | +6.6 |
| DB-financed net capital expenditures 3), 4) (€ million) | 537 | 706 | –169 | –23.9 |
| Employees as of Jun 30 3), 5) (FTE) | 71,922 | 69,797 | +2,125 | +3.0 |
| Average employees 3), 5) (FTE) | 71,453 | 68,651 | +2,802 | +4.1 |
1) Non-Group and DB Group train operating companies.
2) Preliminary figure (not rounded).
3) Figure for the first half of 2024 adjusted due to the merger of DB Kommunikationstechnik GmbH.
4) Excluding equity increases by the Federal Government for infrastructure financing.
5) Since the first half of 2025 excluding interns and working students. Figures as of June 30, 2024, and for the first half of 2024 have not been adjusted.
The punctuality of DB Group and of rail in Germany declined in the first half of 2025. The main reasons for this are the many facility disruptions, a high construction volume in conjunction with a large number of short-term construction requirements, and the very high utilization of the rail infrastructure, especially in the high-performance network. The continued high number of interventions in rail operations by third parties and actions by public authorities are also having a negative impact on punctuality.
The facilities quality (stations) in the first half of 2025 was at the same level as in the first half of 2024.
Performance development was mixed:
- Train-path demand: Slight increase overall, mainly due to the omission of strike effects from the first half of 2024. Cancellations due to construction work continued to have a negative impact.
- The increase in demand from non-Group customers resulted in particular from the takeover of freight transport services. This was offset by a decline in regional passenger transport, where services were transferred.
- Demand from intra-Group customers was slightly above the level of the first half of 2024. Growth in passenger transport (especially DB Regional) was almost entirely offset by a decline at DB Cargo.
- Station stops: Development in line with the first half of 2024. Negative effects from an additional traffic day in the first half of 2024 were almost entirely offset by the omission of negative strike effects in the fist half of 2024.
Economic performance was positive overall, but remained challenging. It was significantly influenced by the omission of pre-financings for maintenance measures in the first half of 2024, which were compensated by the Federal Government in the second half of 2024. Additional burdens, mainly from the expansion of measures to improve quality and availability as well as wage increases, had a dampening effect. The adjusted operating profit figures improved significantly, although adjusted EBIT remained clearly negative.
Income development was significantly better overall:
- Other operating income (+165%/€ +728 million): Very significant increase largely due to the Federal Government’s funding of track infrastructure maintenance measures, which was only realized in the second half of the previous year. Among other things, project income also increased.
- Revenues (+5.7%/€ +232 million): Significant increase due to the omission of negative strike effects from the first half of 2024 as well as price adjustments. Adjustments to the train-path and station pricing system also resulted in a shift in revenues from the Passenger Stations business area to the Track business area with no impact on profit and loss.
There was a noticeable increase in expenses, especially personnel expenses as a result of wage effects and for maintenance and quality improvement measures:
- Personnel expenses (+13.1%/€ +335 million): Significant increase due to wage effects and the higher average number of employees.
- Other operating expenses (+9.0 %/€ +100 million): Increase mainly due to higher operating and infrastructure-related payments to intra-Group and non-Group train operating companies, as well as higher project expenses as a result of increased volumes.
- Depreciation (+22.3%/€ +98 million): Increase due to capital expenditures. Since the previous year, capital expenditures in the track infrastructure have also been financed via equity measures by the Federal Government. This leads to higher assets subject to depreciation and, as a result, a generally higher level of depreciation. In contrast to equity-financed capital expenditures, investment grants are deducted directly from the acquisition and production costs of the assets financed with grants.
- Cost of materials (+4.1%/€ +90 million): Increase mainly due to the further intensification of maintenance measures to improve the quality and availability of the track infrastructure. Price effects also resulted in additional burdens. In addition, there was an increase in expenses for purchased services, including for transport, maintenance of vegetation, and security and public order services. Price-related lower expenses for energy had a partially offsetting effect.
Capital expenditures increased significantly, mainly as a result of higher capital expenditures in the existing network. DB-financed net capital expenditures declined due to reporting date effects.
The number of employees increased significantly due to new appointments in the areas of project management, operations and maintenance, in particular. The intra-Group transfer of employees from DB E&C led to a further increase in the number of employees.