Germany
Passenger growth drives DB revenue to new high
German Rail broke two of its own records - for passenger traffic and revenue - in the first half of 2012, and despite a drop in freight, Ebit also grew strongly. David Briginshaw reports from Berlin on DB’s cautious optimism for the rest of the year.
his fellow management board members presented DB’s results for the first half of 2012 in Berlin on July 26. Despite the eurozone crisis, the sovereign debts crisis, and the uncertain economic outlook even in Germany - Europe’s economic power house - DB has managed to improve its financial performance and achieve new milestones in passenger traffic. “During the first six months of this year we recorded revenues of ƒ19.5bn,” says Grube. “This is ƒ616m more than in the first half of 2011 and is the highest six-month revenue figure in the history of DB.” He describes the growth in earnings as “an important step on our path to becoming an economically successful market leader.” While revenue showed a 3.3%
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increase, Ebit grew by an impressive 16.6% to ƒ1.3bn. “When we compare this with the comparable figure for the 2009 crisis year we can see that we have almost doubled our Ebit since then,” Grube explains. Net profit increased by almost 23% to ƒ794m. “Return on capital employed rose from 7.2% to 8.1%, showing how strong our company is and bringing us a step closer to our target of 10%,” he says. The strongest growth was recorded in passenger traffic, with DB’s long-distance passenger business reporting a 7.9% jump in revenue, and its international passenger division, DB Arriva, achieving an 8.6% increase. Ridership increased by more than 40 million year- on-year to exceed 1 billion for the first time, while passenger volume increased by 4.4% to 39.7 billion passenger-km. Mr Ulrich Homburg, DB’s board of management member for passenger transport, attributed the growth in passenger traffic to several factors. Operations have been very stable so far this year thanks to a milder winter than
IRJ September 2012
ERMAN Rail’s (DB) CEO Dr Rüdiger Grube had much to be cheerful about when he and
Long-distance passenger business reported a 7.9% jump in revenue in the first half of 2012. 33
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