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Business

Deutsche Bahn on Track

The head of Deutsche Bahn has said that the company will meet its financial objectives for 2001 and plans to float on the stock exchange by 2004.

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Deutsche Bahn's railway network is currently valued at DM 8.5 billion

Hartmut Mehdorn, head of the Deutsche Bahn, reckons that the company will fulfil it business objectives this year. The primary goal in a streamlining operation was cost-cutting and saving.

There are fears that the traffic figures will plunge this festive season after the US horror attacks and as Germany teeters on the brink of a recession. Mehdorn says,"But we can already say as of today that 2001 has been a good year for the Bahn."

Mehdorn moved on to say that turnover will be better than last year’s DM 30 million despite decreasing freight costs. Deutsche Bahn will still be operating at a loss this year but plans to be in the winning zone by 2004 as it readies itself for the stock market.

Mehdorn will appeal to the German Government to invest in the railway network in anticipation of the Initial Public Offering. The acual network is currently valued at DM 8.5 billion.

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