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Development in the year under review
- Personnel expenses increased as a result of collective bargaining agreements and a higher number of employees.
- Digitalization and Group projects advanced.
Subsidiaries/other | 2019 | 2018 | Change | ||
absolute | % | ||||
| Total revenues (€ million) | 5,192 | 4,990 | + 202 | + 4.0 |
| External revenues (€ million) | 581 | 573 | + 8 | + 1.4 | |
EBITDA adjusted (€ million) | – 62 | – 200 | + 138 | – 69.0 | |
EBIT adjusted (€ million) | – 575 | – 453 | – 122 | + 26.9 | |
| Gross capital expenditures (€ million) | 714 | 511 | + 203 | + 39.7 | |
| Net capital expenditures (€ million) | 713 | 508 | + 205 | + 40.4 | |
| Employees as of Dec 31 (FTE) | 55,497 | 53,877 | + 1,620 | + 3.0 |
The area Subsidiaries/other encompasses the governance functions (such as corporate development, finance and treasury, and Human Resources) and the dependent administrative service units (such as Shared Service Center accounting and HR services) of the holding company DB AG. This segment also bundles the legally independent administrative service units within DB Group (including DB Temporary Work and DB JobService) and the independent operating service units (such as DB Vehicle Maintenance and DB Systel) which provide services to several DB Group business units.
The increase in total revenues resulted mainly from higher revenues with intra-Group customers, in connection with, among other things, a higher demand for digitalization solutions and cyber security at DB Systel, projects in the area of vehicle maintenance and vehicle conversions, and increased project business at DB E&C.
The improvement in adjusted EBITDA resulted from the decline in other operating expenses as a result of the first-time application of IFRS 16. The EBIT development was affected, among other things, by collective bargaining effects and the continued ramp-up of the Group’s projects. Countermeasures were able to compensate for some of the effects.
The higher capital expenditures mainly resulted from the activation of rental and leasing agreements (IFRS 16 effect).
The number of employees increased, partly as a result of additional recruitment for Group projects and service commissions, and the increase in in-house production volumes, especially at DB E&C, DB Systel, DB Vehicle Maintenance and the Bahnbau Group (rail infrastructure construction).