Reading recommendations from the Economic topic area
Key economic performance indicators
Value management targets (%) | DB | Passenger | Freight transport | Infra- | Integrated | |
| ROCE | ≥6.5 | ≥9.0 | ≥11.0 | 5.5 | ≥6.0 |
Debt coverage | ≥20 | ≥50 | ≥50 | ≥20 | ≥20 | |
In the context of our value management we intend to manage DB Groupʼs enterprise value over the long term such that we can finance capital expenditure on our core business.
ROCE
ROCE deteriorated by 1.5 percentage points as a result of a decline in adjusted EBIT while the capital employed rose at the same time. The significant growth in capital employed resulted mainly from the first-time application of IFRS 16. This generally causes ROCE to shift to a lower level.
At the same time, however, the cost of capital also declined.
ROCE | 2019 | 2018 | Change | |||
absolute | thereof IFRS- | % | ||||
| EBIT adjusted (€ million) | 1,837 | 2,111 | – 274 | +46 | – 13.0 |
Capital Employed | 42,999 | 36,657 | + 6,342 | +4,487 | + 17.3 | |
ROCE (%) | 4.3 | 5.8 | – | –0.4 1) | – | |
1) Percentage points.
