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 23/06/2017, 20:22
xpo-hit-by-port-strikeLOS ANGELES/LONG BEACH: June 23, 2017. Port and rail drivers working as independent contractors for XPO Cartage, part of XPO Logistics, began a strike...
Written on 21/06/2017, 22:44
more-disasters-but-less-moneyGENEVA: June 21, 2017. The United Nations says it needs US$23.5 billion in 2017 to provide humanitarian assistance to a record 141 million people in 37...
Written on 21/06/2017, 20:19
switzerland-remains-the-world-s-most-innovative-countryGENEVA: June 21, 2017 – Switzerland, Sweden, the Netherlands, U.S. and UK are the world's most innovative countries according to a new report by produced...
Written on 21/06/2017, 16:53
fedex-and-ups-among-best-civic-minded-u-s-companiesSEATTLE: June 21, 2017. FedEx and UPS are among the 50 most community-minded companies in the United States according to the latest 'Civic 50' list from...
Written on 16/06/2017, 20:37
eu-commercial-drones-by-2019-says-commissionBRUSSELS: June 16, 2017. The European Commission says commercial drones flying in a 'U-Space' under 150 meters from the ground will be operate in the EU...
Written on 16/06/2017, 19:00
collaboration-and-compromise-key-to-uk-trade-futurePARIS: June 15, 2017. The OECD is forecasting a 1.7 percent rise in UK GDP this year and just 1.0 percent in 2018 as uncertainty rises of Britain not...
Written on 16/06/2017, 15:01
amazon-to-buy-bricks-and-mortar-grocer-for-us-13-7-billionSEATTLE: June 16, 2017. Amazon has agreed to buy Texas-based Whole Foods Market (WFM) for US$13.7 billion including debt. WFM reported Q2 2017 net sales...
Written on 15/06/2017, 20:35
amazon-to-sell-cars-in-britain-delivered-by-emirates-skycargoLONDON: June 14, 2017. Amazon is hiring automotive experts as a prelude to selling cars in the UK according to eCommerce delivery company Parcel...
Written on 12/06/2017, 16:13
qatar-airways-adds-dublin-as-profits-riseDOHA, Qatar: June 12, 2017. Despite continued uncertainty in Qatar following political and economic sanctions imposed by neighboring GCC countries, Qatar...
Written on 09/06/2017, 16:35
spanish-port-strike-continuesBARCELONA: June 09, 2017. Some 6,000 Spanish dockworkers are expected to continue their strike action until June 24 unless a meeting between their union...
Written on 07/06/2017, 01:08
we-are-still-in-say-u-s-states-and-businessesWASHINGTON, DC: June 05, 2017. Ignoring Donald Trump, 1,219 governors, mayors, businesses, investors, colleges and universities in the U.S. have declared...
Written on 06/06/2017, 19:35
iata-repeats-call-for-trade-freedomCANCUN, Mexico: June 06, 2017. IATA's 73rd annual general meeting has called on governments to implement the World Trade Organization's (WTO) Trade...
Written on 05/06/2017, 20:34
qatar-cargo-to-operate-perishables-airliftDOHA: June 05, 2017. The Qatar Cargo weekly A330 freighter service to London Heathrow that began on June 03 could be part of a food airlift if the Saudia...
Written on 01/06/2017, 20:52
u-s-not-so-competitiveLAUSANNE, Switzerland: May 31, 2017. The United States is no longer one of the top three competitive countries in the world according to a new 63-country...
Written on 01/06/2017, 18:57
rickmers-group-files-insolvency-following-bank-moveHAMBURG: June 01, 2017. The Rickmers Group has declared insolvency following the rejection by HSH Nordbank of a proposed financial restructuring. Last...
Written on 01/06/2017, 14:07
exxon-mobil-low-carbon-future-as-trump-pulls-climate-plugBOSTON, MA: June 01, 2017. As expected, Donald Trump has announced the United States is withdrawing from the Paris Agreement on climate change, despite...
Written on 26/05/2017, 16:16
powerful-future-ahead-for-madagascarPORT LOUIS, Mauritius. May 24, 2017. Volga-Dnepr Airlines has now completed a series of flights begun in March to deliver power generators from Mauritius...
Written on 25/05/2017, 20:07
rhinos-return-to-rwandaAKAGERA, Rwanda: May 25, 2017. Ten years after the Eastern black rhino disappeared from Rwanda following decades of poaching, 19 animals have now taken up...
Written on 25/05/2017, 18:33
port-everglades-gets-expansion-go-aheadPORT EVERGLADES, FL: May 24, 2017. Port Everglades is to invest US$437.5 million to add new berths for larger cargo vessels and install crane rail...
Written on 24/05/2017, 20:42
hapag-lloyd-takes-a-big-step-with-uascHAMBURG: May 24, 2017. Hapag-Lloyd and the United Arab Shipping Company (UASC) have completed their merger. Shareholders at the annual general meeting on...

- powered by Quickchilli.com -