English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Deutsche Bahn billion-plus loss

FRANKFURT: March 17, 2016. Deutsche Bahn (DB) has reported a net loss of €1.3 billion on adjusted revenue of €40.46 billion in 2015 compared to a net profit of €988 million on revenue of €39.7 billion the previous year. Net debt rose 7.9 percent to €17.5 billion during the period.

DB Schenker reported a 3.4 percent increase in revenue to €15.45 billion. EBIT for 2015 was up 19.0 percent to €395 million; capex was €238 million and employee numbers rose 2.3 percent to 66,327.

The company saw ocean and airfreight revenue rise 3.1 percent to €6.75 billion; contract logistics increased 17.3 percent to €2.38 billion; and European trucking revenue fell 0.7 percent to €6.32 billion year-on-year.

DB Group 2015Airfreight export volumes rose 1.4 percent to 1.3 million tonnes; ocean exports measured in TEUs fell 2.1 percent to 1.9 million while warehousing space for contract logistics increased 8.5 percent to 7.7 million square meters.

Commenting on the results DB CFO Richard Lutz said group revenues are expected to exceed €41.5 billion in 2016 primarily due to growth at its DB Arriva and DB Schenker subsidiaries. Net profit is forecast at €0.5 billion and net debt will rise to €19 billion resulting in a €3 billion bond issue during the year.

DB chairman and CEO Rüdiger Grube cited the longest strike in the company's history that cost it €300 million in EBIT, the impact of unusually fierce winter storms, and the "great responsibility of transporting hundreds of thousands of refugees" as contributing to the 2015 loss.

He said rail freight was the company's biggest challenge last year: "Many customers signed long-term agreements with other carriers during the strike, and our rail freight revenues are still down 8.0 – 10.0 percent as a result." He said the newly renamed rail business 'DB Cargo' was doing everything it could to "encourage former customers to return and also to recruit new customers".

DB Cargo reported a 2.0 percent drop in revenue year-on-year to €4.76 billion and an EBIT loss of €183 million compared to +€46 million in 2014. Freight volumes fell 8.8 percent to 300 million tonnes during the period.

Grube concluded by saying: "We are looking to the future at DB and have launched the largest investment campaign in our history, which will run over the coming five years. As part of this campaign, we will be making major investments in quality so that we can offer products that will make more customers enthusiastic about DB.

"The total investment will amount to some €55 billion by 2020, with the vast majority – €50 billion – to be invested here in Germany. Of the €55 billion in gross capital expenditures, €35 billion will come from the German government and €20 billion from DB's own funds," he added.

News

Written on 22/02/2018, 19:42
infrastructure-improvements-not-rocket-science-says-iataNEW YORK, NY: February 22, 2018. IATA director general and CEO Alexandre de Juniac says the U.S. government should get out of the business of running...
Written on 22/02/2018, 17:40
top-employer-dhl-opens-new-brussels-hubBRUSSELS: February 22, 2018. DHL Express has a new €140 million, 36,500 sq.mt. regional hub at Brussels Airport that can handle 42,000 shipments an...
Written on 22/02/2018, 16:10
record-year-for-rockfordROCKFORD, IL. February 21, 2018. The Chicago Rockford International Airport (RFD) has reported a 50 percent increase in landed cargo in 2017 to reach a...
Written on 22/02/2018, 15:44
brussels-levies-395-million-fine-on-maritime-car-carriersBRUSSELS: February 21, 2018. The European Commission (EC) has levied fines totaling €546 million on four maritime car carriers and three major car parts...
Written on 15/02/2018, 17:39
first-uae-built-satellite-nears-launch-dateDUBAI: February 15, 2018. The first satellite developed and built at the Mohammed Bin Rashid Space Centre (MBRSC) by Emirati engineers has been flown to...
Written on 14/02/2018, 22:30
saudi-arabia-and-uae-provide-mobile-lift-for-yemen-aid-programSANA'A, Yemen. February 12, 2018. Prior to disbursing US$1.0 billion in humanitarian aid to Yemen next month, Saudi Arabia and the UAE recently arranged...
Written on 14/02/2018, 16:09
master-showjumpers-travel-in-styleHONG KONG: February 14, 2018. The latest Longines Masters equestrian event ended last weekend with a Grand Prix win by France's Patrice Delaveau on his...
Written on 12/02/2018, 18:37
humanitarian-logistics-databank-launchedDUBAI: February 11, 2018. The Humanitarian Logistics Databank, an information-sharing platform for aid agencies, has been launched by Princess Haya bint...
Written on 10/02/2018, 23:29
gac-to-manage-yamal-lng-icebreaker-fleetSABETTA PORT, Russia. February 09, 2018. The Yamal LNG gas project has appointed GAC Russia to manage its fleet of icebreaker tankers at Sabetta for the...
Written on 09/02/2018, 18:26
drones-about-to-take-off-in-singaporeSINGAPORE: February 07, 2018. Airbus has partnered with the Civil Aviation Authority of Singapore and Singapore Post to test its Skyways package delivery...
Written on 06/02/2018, 15:55
singapore-tops-new-belt-road-indexSINGAPORE: February 05, 2018. According to an index of real estate prospects in 67 countries along China's Belt & Road Initiative (BRI), Singapore,...
Written on 04/02/2018, 21:56
record-profit-for-amazon-undermines-the-need-for-tax-breaksWASHINGTON, DC: February 01, 2018. A report from the U.S. Economic Policy Institute (EPI) concludes Amazon fulfillment centers do not boost overall...
Written on 04/02/2018, 21:27
tiaca-adopts-new-vision-with-makeoverMIAMI: January 31, 2018. The International Air Cargo Association has announced a new vision that includes more training and consultancy projects to ensure...
Written on 04/02/2018, 20:26
cartel-members-fined-169-millionLUXEMBOURG: February 01, 2018. The Court of Justice of the European Union has upheld €169 million in fines originally imposed by the European Commission...
Written on 01/02/2018, 20:16
iata-confirms-a-record-year-for-air-cargoGENEVA: January 29, 2018. IATA reports a 9.0 percent year-on-year increase in freight tonne-kilometers (FTKs) in 2017, noting it was the strongest...
Written on 28/01/2018, 18:01
us-4-5-trillion-circular-economy-goes-mainstreamDAVOS, Switzerland: January 24, 2018. BMW has joined 29 major corporations with collective annual revenues of US$1.3 trillion in supporting a circular...
Written on 27/01/2018, 01:21
low-marks-for-russian-corporate-transparencyMOSCOW: January 25, 2018. Transparency International (TI) Russia has published a first-ever study on the financial transparency of 200 Russian companies...
Written on 27/01/2018, 00:09
boeing-loses-bombardier-anti-dumping-caseWASHINGTON, DC: January 26, 2018. In a blow to the Trump administration and Boeing, the U.S. International Trade Commission (ITC) has ruled unanimously...
Written on 26/01/2018, 21:28
ndia-s-gst-expected-to-reduce-tax-ratesKUWAIT CITY: January 25, 2018. According to the latest survey of global logistics executives by Agility, India's GDP is accelerating again after early...
Written on 23/01/2018, 20:30
logistics-industry-optimism-for-emerging-marketsBAAR, Switzerland: January 22, 2018. Emerging markets have ignored growing populism in the U.S. and parts of Europe to "look brighter than they have in...

- powered by Quickchilli.com -