Development in the first half of 2026
Falling purchase prices resulting in profit growth.
Supply reliability stable at a high level.
| DB Energy | H1 | Change | ||
|---|---|---|---|---|
| 2026 | 2025 | absolute | % | |
| Supply reliability (%) | 99.99 1) | 99.99 1) | – | – |
| Traction current (16.7 Hz and direct current) (GWh) | 3,452 | 3,570 | –118 | –3.3 |
| Traction current pass-through (16.7 Hz) (GWh) | 1,642 | 1,614 | +28 | +1.7 |
| Stationary energies (50 Hz and 16.7 Hz) (GWh) | 839.9 | 993.5 | –153.6 | –15.5 |
| Fuel 2) (million l) | 184.8 | 179.7 | +5.1 | +2.8 |
| Total revenues (€ million) | 1,694 | 1,677 | +17 | +1.0 |
| External revenues (€ million) | 692 | 742 | –50 | –6.7 |
| EBITDA adjusted (€ million) | 130 | 90 | +40 | +44.4 |
| EBIT adjusted (€ million) | 91 | 52 | +39 | +75.0 |
| Gross capital expenditures (€ million) | 179 | 164 | +15 | +9.1 |
| Net capital expenditures (€ million) | 68 | 80 | –12 | –15.0 |
| Employees as of Jun 30 (FTE) | 2,212 | 2,133 | +79 | +3.7 |
| Average employees (FTE) | 2,205 | 2,128 | +77 | +3.6 |
1) Preliminary figure (not rounded).
2) Including diesel, heating oil and HVO biofuel.
The high level of supply reliability was maintained.
Volume development was mixed:
- Traction current: Sales declined significantly, driven by a sharp fall in demand from intra-Group customers in passenger and freight transport. By contrast, the sales volume with non-Group customers increased, thereby partially offsetting the decline.
- Traction current pass-through for non-Group customers: Slight increase largely reflecting traffic growth at the TOCs.
- Stationary energies: Decline primarily due to lower activities for non-Group customers. Conversely, the severe winter snap at the beginning of 2026 led to an increase in sales volumes with intra-Group customers.
- Fuels: Growth in demand driven primarily by business with intra-Group customers in local passenger transport as well as with non-Group customers.
Economic development improved in the first half of 2026. This was largely thanks to lower energy procurement costs driven by price and volume factors, as well as a slight upturn in revenues. The operating profit figures improved significantly as a result.
Income declined slightly overall, driven by the omission of the positive effects reported in the first half of 2025:
- Other operating income (–71.4 %/€ –25 million): Significant decline due to the omission of positive effects in connection with the release of provisions in the first half of 2025.
- Revenues (+1.0 % /€ +17 million): Slight increase, driven in particular by higher sales prices for diesel fuels. The decline in revenues from non-Group customers, which resulted in particular from the performance of stationary energies and lower grid fees in the traction current grid, had an offsetting effect.
Due to the development of the cost of materials, expenses declined more sharply than income overall:
- Cost of materials (–3.9 % / € –57 million): Significant decline due to lower electricity procurement costs (for traction and stationary current) as well as a performance-related decrease (in stationary energy for non-Group customers). This was offset by higher purchase prices for diesel and higher expenses for maintenance work on the traction current grid.
The other expense items saw additional burdens of minor significance overall:
- Personnel expenses (+7.3 % / € +7 million): Increase primarily due to the higher number of employees and collective bargaining effects.
- Other operating expenses (+2.8 % / € +2 million): Slight increase due to higher expenses for IT services, among other things.
- Depreciation (+2.6 % / € +1 million): Slight increase due to capital expenditures.
Gross capital expenditures in the traction current infrastructure increased significantly. They are aimed in particular at further improving the quality of the energy supply, strengthening its resilience and making it more flexible. Net capital expenditures declined due to higher investment grants.
The number of employees increased as of June 30, 2026. An increase in the number of employees in technical areas for implementing the higher volume of infrastructure capital expenditures as part of the energy transition was partially offset by a decrease in the number of administrative staff.