DB sees major jump in H1 passenger number as punctuality suffers
Deutsche Bahn (DB) has recorded an increase in operating profit, revenue and passenger numbers in the first six months of this year, the company’s H1 figures released on Thursday show. Ongoing construction and maintenance work, however, is struggling to keep up, with a drop in punctuality as a result.
DB’s long-distance ICE trains were particularly affected, as only 69,6 percent of trains were on time in the first half of this year. In the same period last year, that figure stood at 79,5 percent. CEO Richard Lutz admitted that punctuality is at an “unacceptable” level.
ICE trains moved 59,1 million passengers in the first six months, an increase of 117 percent over last year. DB Regio recorded a 60-percent jump in passenger numbers to around 725 million.
DB booked an operating profit of 876 million euros for the first half of 2022. Revenue grew by 28,4 percent to some 28 billion euros. The performance of logistics arm DB Schenker stood out in the first six months of the year, as profit doubled to around 1,2 billion euros. It was the division’s most successful first half in the company’s 150-year history.
Chief financial officer Levin Holle sees a high degree of financial uncertainty ahead, as DB is feeling the weight of rising inflation and an “energy cost explosion”. The company forecasts a full-year operating profit of more than 1 billion euros.