The increase in gross capital expenditures mainly resulted from the inclusion of finance leases due to the change in accounting for obligations under leases (IFRS 16). Increased capital expenditures in rail infrastructure has also boosted capital expenditures.

Investment grants also increased significantly. They accounted for about 51% of gross capital expenditures (in the first half of 2018: around 54%).

Net capital expenditures increased as a result of IFRS 16 effects. The fall in capital expenditures in railway vehicles, in particular as a result of a temporary cessation of the acceptance of  ICE 4 trains, had a dampening effect.

We continue to focus our capital expenditure activities on the business units of the integrated rail system, in particular measures to improve performance and efficiency in the area of rail infrastructure and vehicles. The structure of gross capital expenditures has changed slightly, mainly as a result of the first-time application of IFRS 16. The shares of the freight transport and logistics division and other in gross capital expenditures increased as a result. Capital expenditures in the vehicles were on the decline overall, mainly as a result of a temporary ceessation of acceptance ICE 4 trains.

Capital expenditures priorities unchanged in Germany

In the regional breakdown of gross capital expenditures, the focus remained on Germany. In addition to the IFRS 16 effects, the increase is also the result of capital expenditures in infrastructure at DB Netze Track and DB Netze Stations.