Significant risks
| Risk category | Significant risks | Probability of occurrence | Impact | Relevance | Change compared with 2025 Annual Report |
|---|---|---|---|---|---|
| Financing from the Federal budget | Amendment to the train-path price supportdirective for long-distance transport | Realized | – | – | |
| Claims for reimbursement of funding for maintenance expenses at DB InfraGO | Possible | Low | Low | – | |
| Production and technology | Revenue and expense risks relating to punctuality and construction sites | Highly likely | Medium | Medium | – |
| Unplanned maintenance measures | Likely | Medium | Medium | ||
| Operation of information technology/telecommunications | Likely | Low | Low | ||
| Delays to ramp-up of optimization programs | Possible | Low | Low | – | |
| Information security | Possible | Low | Low | ||
| Economic climate, market and competition | Competition in long-distance transport and freight transport | Possible | Low | Low | |
| Law and contracts | Liability risks arising from past acquisitions, recovery risks | Possible | Low | Low | – |
| Procurement and energy market | Procurement price risks | Likely | Low | Low | |
| Extraordinary events | Geopolitical risks | Possible | Low | Low | – |
| Extreme weather events | Possible | Low | Low | – | |
| Capital markets and taxes | Rising interest rates on the capital markets | Possible | Low | Low | – |
Unevaluated risks, that is risks that could not be evaluated as of June 30, 2026, are not included in the table.
The methodology for assessing probability of occurrence, impact and relevance is unchanged and is described in the 2025 Annual Report.