Development in the first half of 2026
Higher expense grants from the Federal Government, as well as price adjustments in local passenger transport and freight transport, led to a significant improvement in profits.
Additional burdens resulting from more extensive maintenance measures aimed at improving quality, enhanced security and cleanliness at train stations, increased operational and infrastructure-related compensation payments to TOCs, collective bargaining effects and an increase in the number of employees.
| DB InfraGO | H1 | Change | ||
|---|---|---|---|---|
| 2026 | 2025 | absolute | % | |
| Punctuality DB Group (rail) in Germany (%) | 87.4 | 89.4 | –2.0 | – |
| Punctuality (rail) in Germany 1) (%) | 85.9 | 88.1 | –2.2 | – |
| Facilities quality (stations) (grade) | 2.73 2) | 2.78 2) | –0.05 | – |
| Train kilometers on track infrastructure (million train-path km) | 548.3 | 553.8 | –5.5 | –1.0 |
| thereof non-Group railways | 226.3 | 227.0 | –0.7 | –0.3 |
| Share of non-Group railways (%) | 41.3 | 41.0 | +0.3 | – |
| Station stops (million) | 78.3 | 79.9 | –1.6 | –2.0 |
| thereof non-Group railways | 22.7 | 24.2 | –1.5 | –6.2 |
| Total revenues 3) (€ million) | 4,294 | 4,318 | –24 | –0.6 |
| thereof train-path revenues | 3,432 | 3,421 | +11 | +0.3 |
| thereof station revenues | 408 | 403 | +5 | +1.2 |
| thereof rental | 219 | 220 | –1 | –0.5 |
| External revenues (€ million) | 1,627 | 1,588 | +39 | +2.5 |
| Share of total revenues (%) | 37.9 | 36.8 | +1.1 | – |
| EBITDA adjusted 3) (€ million) | 593 | 335 | +258 | +77.0 |
| EBIT adjusted 3) (€ million) | –66 | –202 | +136 | –67.3 |
| Gross capital expenditures (€ million) | 6,919 | 6,007 | +912 | +15.2 |
| DB-financed net capital expenditures 4) (€ million) | 1,776 | 537 | +1,239 | – |
| Employees as of Jun 30 3) (FTE) | 74,652 | 72,563 | +2,089 | +2.9 |
| Average employees 3) (FTE) | 74,132 | 72,099 | +2,033 | +2.8 |
1) Non-Group and DB Group train operating companies.
2) Preliminary figure (not rounded).
3) The figures for the first half of 2025 and as of June 30, 2025, have been adjusted to reflect the reallocation of DB Projekt Stuttgart―Ulm GmbH.
4) Excluding equity increases by the Federal Government for infrastructure financing.
Punctuality for DB Group and rail in Germany was lower than expected in the first half of 2026. The main causes are facility malfunctions, particularly affecting the superstructure, a large number of restricted speed sections as a result, capacity constraints due to intensive construction activity and short-term construction requirements, as well as a localized high utilization of the track infrastructure on main lines and at hubs. The severe winter snap at the start of 2026 and the heat wave in June 2026 also had a negative impact on punctuality throughout Germany.
The facilities quality (stations) in the first half of 2026 was at a slightly better level than in the first half of 2025.
Performance development declined slightly:
- Train-path demand: Slight overall decline due to construction-related cancellations, weather-related restrictions (especially storm fronts in early 2026) and a lack of economic momentum.
- Demand from non-Group customers remained roughly at the same level as in the first half of 2025. In local rail passenger transport, demand declined significantly as a result of changes in operators. This was almost entirely offset by a significant increase in rail freight transport, particularly due to the takeover of transports as well as additional long-distance rail passenger transports.
- Demand from intra-Group customers was slightly below the level recorded in the first half of 2025. Significant declines at DB Long-Distance and DB Cargo were only partially offset by growth at DB Regional.
- Station stops: Performance fell short of the level seen in the first half of 2025. Negative effects resulted in particular from construction-related restrictions and measures taken to stabilize service quality, and primarily affected regional rail passenger transport.
Economic performance was positive overall, but remained challenging. It was largely characterized by increased funding from the Federal Government for rail infrastructure maintenance measures. Additional burdens, mainly from the expansion of measures to improve quality and availability as well as collective wage increases, had a dampening effect. The adjusted operating profit figures improved significantly, although adjusted EBIT remained negative.
Income development was significantly better overall:
- Other operating income (+88.1 % / € +1,031 million): Very significant increase, largely due to the expansion of the Federal Government’s funding of rail infrastructure maintenance measures. In addition, the release of deferred income in connection with the loan from the Federal Government resulted in income that did not occur in the first half of 2025.
- Revenues (–0.6 % / € –24 million): Development roughly in line with the first half of 2025. Negative effects resulted in particular from price adjustments in long-distance transport, performance development and lower rental revenues (termination of rental contracts in connection with station modernizations). In addition, the integration of DB Kommunikationstechnik GmbH (which was merged into DB InfraGO AG in the previous year) resulted in a reclassification from revenues to other operating income with no impact on profit and loss. Price effects on train-path revenues from local passenger transport and freight transport as well as station revenues almost entirely offset the declines.
Expenses rose significantly, particularly in connection with maintenance and quality improvement measures, as well as personnel expenses due to collective bargaining effects:
- Cost of materials (+17.8 % / € +415 million): Significant increase, largely due to a further intensification of maintenance measures aimed at improving the quality and availability of the rail infrastructure. Price effects also resulted in additional burdens. The implementation of measures under the immediate action program for improved security and cleanliness at stations as well as the development of KRITIS Umbrella Act-related security services also increased expenses. Expenses also increased for rail substitute transport in connection with the corridor modernizations, for winter services (primarily due to volume) and for energy (mainly due to volume), among other things.
- Other operating expenses (+17.3 % / € +211 million): Increase primarily due to higher project and IT expenses resulting from volume growth, as well as higher operational and infrastructure-related compensation payments to internal and external TOCs.
- Personnel expenses (+6.4 % / € +187 million): Significant increase due to collective bargaining effects and the higher average number of employees.
- Depreciation (+22.7 % / € +122 million): Increase due to capital expenditures. In the previous two years, capital expenditures in the rail infrastructure were also financed through 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.
Capital expenditures increased significantly, mainly as a result of higher capital expenditures in the existing network. DB-financed net capital expenditures saw even stronger growth.
The number of employees increased significantly due to new appointments in the areas of project management, operations and maintenance, in particular.