As of 07/28/2022 12:36 PM
Despite many delays and problems on the tracks, the DB Group is back in the positive. In particular, he was helped in this by the billions in profits from the logistics subsidiary of Schenker.
Deutsche Bahn posted an operating profit of approximately EUR 876 million in the first half of the year. In the same period a year ago, there was still a minus of over a billion euros. Sales rose by more than 28 percent to around 28 billion euros. “The trend reversal has been successful: demand is booming and we are back in the black,” Deutsche Bahn CEO Richard Lutz said today.
The half-yearly balance sheet shows the profit at Deutsche Bahn
Markus Reher, RBB, Daily News at 12:00 Jul 28, 2022
The strong result was mainly due to the logistics activities of the subsidiary DB Schenker. Thanks to land, air and sea freight, Schenker benefits from limited shipping opportunities all over the world. The company may therefore charge much higher prices.
Debate on the sale of Schenker
In the first six months, the international shipping subsidiary of DB achieved an operating profit of almost EUR 1.2 billion. Logistics achieved in the first half of 2022 as much profit as in the whole of 2021 – and this is a record result.
A good result can further fuel the debate about the possible sale of the company: The Greens and the FDP in particular see the international logistics business as a foreign entity on the railroad. The sale could also remove some of the mountain of debt worth around 30 billion euros. On the other hand, profit shows that Schenker is an important pillar of the group. Transport Minister Volker Wissing (FDP) has not yet become involved in Schenker’s future.
More travelers on the way
In addition, Deutsche Bahn’s long-distance traffic has recovered from the Corona crisis despite many delays. According to its own statements, the group recorded more than 59 million long-distance travelers in the first six months of the year. This is more than twice as much as in the same period last year. However, the current figures are still far from pre-crisis levels: in the first six months of 2019, Deutsche Bahn claims to have recorded nearly 72 million long-distance passengers.
In regional transport, demand increased by 60 percent to around 725 million passengers. Here, especially from June, a ticket of 9 euros should increase the occupancy of the trains even more. Both the GDL train drivers’ union and the EVG rail and transport association were against a ticket extension. “The workforce is at or over the limit in some cases,” said EVG vice president Martin Burkert. Due to this overloading, the ticket cannot be extended.
Thanks to the ticket, which is actually intended to relieve commuters, additional rush was provided for travelers, said GDL chief Claus Weselsky in Rbb news radio. “This is not good for the system as it is already wearing out. Now we are also completely overloaded. “
Delays are increasing
The railway network has deteriorated and overloaded in many places, and is currently being renovated in many places – numerous construction sites slow down traffic. According to Bahn, only 69.6 percent of the long-distance trains reached their destination on time in the first half of the year. “In the first six months of last year, it was still 79.5 percent,” said Deutsche Bahn. A train is considered on time as long as it does not reach its destination with a delay of more than six minutes.
President Lutz said rail infrastructure has not kept pace with the increase in traffic: “Increased track congestion and delays are a consequence of this.” Quality and timeliness are currently “unacceptable”. Therefore, the railways and the federal government continued to build up the intensively operated network. The major renovation of the busiest corridors is to start in 2024.
Deutsche Bahn creates a payback after pandemic losses
Johannes Frewel, ARD Berlin, 7/28/2022 12:48 PM