Development in the first half of 2025
- Improved operating profit, particularly as a result of measures implemented to safeguard profits and improved development at DB Operational Services.
- Number of employees reduced by reduction of personnel requirements.
| Subsidiaries/Other | H1 | Change | ||
|---|---|---|---|---|
| 2025 | 2024 | Absolute | % | |
| Total revenues 1) (€ million) | 3,328 | 3,252 | +76 | +2.3 |
| DB Business Services | 1 | 1 | – | – |
| DB Operational Services 1) | 3,729 | 3,673 | +56 | +1.5 |
| Other/consolidation 1) | –402 | –422 | +20 | –4.7 |
| External revenues 1) (€ million) | 437 | 373 | +64 | +17.2 |
| EBITDA adjusted 1) (€ million) | 310 | 216 | +94 | +43.5 |
| EBIT adjusted 1) (€ million) | –12 | –105 | +93 | –88.6 |
| DB Business Services | –57 | –74 | +17 | –23.0 |
| DB Operational Services 1) | 128 | 94 | +34 | +36.2 |
| Other | –83 | –125 | +42 | –33.6 |
| Gross capital expenditures 1) (€ million) | 390 | 523 | –133 | –25.4 |
| DB Business Services | 0 | 1 | –1 | –100 |
| DB Operational Services 1) | 284 | 312 | –28 | –9.0 |
| Other | 106 | 210 | –104 | –49.5 |
| Net capital expenditures 1) (€ million) | 390 | 523 | –133 | –25.4 |
| Employees as of Jun 30 1), 2) (FTE) | 57,373 | 60,112 | –2,739 | –4.6 |
| DB Business Services 2) | 10,763 | 11,936 | –1,173 | –9.8 |
| DB Operational Services 1), 2) | 44,127 | 45,541 | –1,414 | –3.1 |
| Other 2) | 2,483 | 2,635 | –152 | –5.8 |
| Average employees 1), 2) (FTE) | 58,153 | 59,698 | –1,545 | –2.6 |
1) Figure for the first half of 2024 adjusted due to the merger of DB Kommunikationstechnik GmbH.
2) 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 increase in total revenues was driven by higher revenues from intra-Group customers of DB Operational Services companies. This was largely due to higher demand for construction projects (especially at DB E.C.O. and DB Rail Construction) and vehicle projects (DB Vehicle Maintenance). In addition, positive reporting date effects in connection with the Germany tariff served to increase revenues at DB Sales. This was partially offset by lower revenues at DB Systel, among others, as a result of changed demand for IT and consulting solutions.
Revenues from non-Group customers increased considerably at a low level. This was mainly due to growth in project business (DB E.C.O., DB Rail Construction, DB Vehicle Maintenance) and insurance business (Deutsche Verkehrs-Assekuranz).
Expenses were roughly on a par with the first half of 2024. Additional burdens, including those resulting from wage increases, were more than offset by countermeasures to safeguard profits.
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 rendered services for the business units. There was a significant improvement in the development of the operating profit figures, with income rising due to higher intra-Group demand in particular and expenses falling. The main drivers were DB Vehicle Maintenance, DB Sales, DB Security, and cost reductions in Group Management and at DB Business Services. The profit development of DB Systel (as a result of lower revenues and wage increases) and DB E.C.O. had an adverse dampening effect.
The decline in capital expenditures was mainly because the effects from the extension and adjustment of existing rental and lease agreements and the conclusion of new agreements at DB Real Estate were significantly higher in the first half of 2024. Capital expenditures at DB Systel and DB Connect were also lower due to reporting date effects. This was offset by higher capital expenditures in the depot infrastructure at DB Vehicle Maintenance, among other things.
The number of employees decreased due to adjustment of personnel requirements (primarily at DB Services, DB AG, DB Systel, DB Vehicle Maintenance, DB Sales) as well as a decline in the number of employees in the intra-Group labor market. The intra-Group transfer of the planning and acceptance testing unit of DB E&C to DB InfraGO led to a further reduction in the number of employees. This was partially offset by an increase in the number of employees at DB Rail Construction and DB Security due to performance factors.