Deutsche Bahn posts record profit and revenues | Business| Economy and finance news from a German perspective | DW | 21.03.2013
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Deutsche Bahn posts record profit and revenues

Germany's state-run rail operator Deutsche Bahn has announced record results for 2012. It said both profit and revenues were up markedly as passenger numbers soared despite higher ticket costs.

Deutsche Bahn (DB) reported Thursday its revenues increased by 3.7 percent last year to total 39.3 billion euros ($50.7 billion). Net profit soared by 11 percent to 1.48 billion euros, making it a record year for the rail operator.

The company said the surge in earnings and revenues came on a marked increase of passenger numbers. Last year, a total of 2.7 billion people traveled on Deutsche Bahn trains, 49 million people more than a year earlier.

"We're in the black in all our business segments," the head of financial operations, Richard, Lutz, said in a statement.

Litigation trouble

Throughout 2013, Deutsche Bahn expected some 2.8 billion euros in earnings before interest and tax (EBIT) on predicted revenues of some 41 billion euros.

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The Germany daily Süddeutsche Zeitung said Thursday the rail operator was at loggerheads with Canadian train producer Bombardier. The report claimed Deutsche Bahn had accused Bombardier of concealing wheel and braking system defects with regard to a delivery of 500 trains for Berlin's inner-city S-Bahn service. It said DB had launched a damage suit in a bid to get back almost 350 million euros from the 1.1-billion-euro delivery.

Bombardier was quoted as having rebuffed the accusations, calling them unfounded and having the potential of damaging the train maker's image. It said Deutsche Bahn was implying that Bombardier had knowingly put passengers at risk.

Alongside Siemens and Alstom, Bombardier is among the largest train suppliers to Germany.

hg/jlw (Reuters, AFP, dpa)

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