Deutsche Bahn losses of 1,3 billion euros: German rail company Deutsche Bahn (DB) announced a net loss of 1,3 billion euros last year. The problems in the cargo division, long-term strike and restructuring efforts were effective.
In 2015 fiscal year, company revenues increased by 1,9, reaching 40,5 billion euros for the first time in its history. The company's earnings before interest and taxes decreased by 16,6 to 1,76 billion euros, partly due to strikes on an annual basis.
The company's gross capital expenditures also increased by 2,4 percent on an annual basis, primarily due to high investment in infrastructure, while net financial debt was determined as 9,3 billion euros, with an increase of 7,9 percent.
Deutsche Bahn, in the 2015, carried 132 million long-distance passengers. The number of long-distance passengers increased by 2,2 compared to the previous year. However, the number of passengers using local bus and regional railway services decreased by 1,2 by 2,5 billion.
“A self-critical view shows that we have not achieved our goal”
Rüdiger Grube, DB Senior Manager (CEO), whose comments were included in the statement, said: "Although we are happy to see positive developments, a self-critical view shows that we have not achieved our goal."
"We are launching the biggest investment campaign in the history of Deutsche Bahn, and the increase in net financial debt is a product of that," said Richard Lutz, DB Finance Director (CFO).
Lutz added that they will continue to be a reliable, stable and solid partner in the capital markets.