Revenues
| Revenues / € million | H1 | Change | ||
|---|---|---|---|---|
| 2026 | 2025 | absolute | % | |
| Revenues | 13,594 | 13,327 | +267 | +2.0 |
| Special items | –10 | 11 | –21 | – |
| Adjusted revenues | 13,584 | 13,338 | +246 | +1.8 |
| Changes in the scope of consolidation | –96 | – | –96 | – |
| Exchange rate changes | 6 | – | +6 | – |
| Revenues comparable | 13,494 | 13,338 | +156 | +1.2 |
Revenue development improved slightly in the first half of 2026. Among other things, revenue growth resulted from positive pricing effects at DB Regional in particular (especially due to the dynamization of concession fees). At DB Long-Distance, improved yield management was a key contributing factor. In addition, performance gains at DB Regional contributed to higher revenues. Burdens resulted from a lack of economic impetus (particularly at DB Cargo). The discontinuation of unprofitable transports at DB Cargo also served to reduce revenues. In addition, the persistently weak service quality and construction-related restrictions had a dampening effect on demand in rail transport.
Special items continued to be irrelevant for revenue development. Changes in the scope of consolidation and exchange rate changes also had no material impact.
Revenue structure
| External revenue structure adjusted / % | H1 | Change in percentage points | |
|---|---|---|---|
| 2026 | 2025 | ||
| DB Long-Distance | 21.8 | 21.6 | +0.2 |
| DB Regional | 40.5 | 39.7 | +0.8 |
| DB Cargo | 17.3 | 17.9 | –0.6 |
| DB InfraGO | 12.0 | 11.9 | +0.1 |
| DB Energy | 5.1 | 5.6 | –0.5 |
| Subsidiaries / Other | 3.3 | 3.3 | – |
| DB Group | 100 | 100 | – |
The revenue structure did not change significantly in the first half of 2026. Among other things, DB Regional’s share of revenues increased as a result of higher concession fees in particular. In contrast, DB Cargo’s share of revenues decreased as a result of lower performance.
| External revenues adjusted by regions/ € million | H1 | Change | ||
|---|---|---|---|---|
| 2026 | 2025 | absolute | % | |
| Germany | 13,030 | 12,701 | +329 | +2.6 |
| Europe (excluding Germany) | 515 | 531 | –16 | –3.0 |
| Rest of world | 39 | 106 | –67 | –63.2 |
| DB Group | 13,584 | 13,338 | +246 | +1.8 |
The regional revenue structure (continuing operations) did not change materially in the first half of 2026, and is characterized by activities in Germany:
- In Germany, revenue growth was recorded by DB Regional and DB Long-Distance in particular. Burdens resulted from declines at DB Cargo.
- In Europe (excluding Germany), revenue development declined slightly due to DB Cargo. Development in Spain (€ –44 million) and the United Kingdom (€ –25 million) was a key factor. This was partially offset mainly by revenue growth in Finland (€ +24 million) and Austria (€ +8 million).
- Revenues in the rest of the world declined significantly from a low base, driven by developments at the DB E.C.O. Group in North America.