• Performance gains were achieved due to the economic recovery, particularly in the steel and chemical industry.
• New transport services were introduced in Belgium, and existing services in trans-Eurasian transport were expanded.
• Extraordinary events had a dampening effect.

¹⁾ Previous years figures adjusted due to changes in the presentation of Eurasian transport (from the Eastern Europe region to the Central Europe region).

With respect to performance development in Central Europe, the recovery trend in the steel and chemical industry and in combined transport since the second half of 2020 continued. This was supported by expansions of available offers in Belgium and Italy and on the trans-Eurasian corridor. The effects of the extreme weather events in Germany, the wage dispute with the GDL and the Covid-19-related semiconductor shortage in the automotive industry had a dampening effect. Overall, volumes were higher than before the Covid-19 pandemic.

However, the economic development remains very challenging. Although operating profit figures improved as a result of income gains, they remained negative.

• Revenues increased noticeably due to higher volumes.
• Other operating income increased, mainly as a result of increased subsidies, predominantly from facility price support.

On the expense side, there was a slight increase driven by the cost of materials:

• Cost of materials increased, driven by increased purchases of transport services, as well as train-path and energy expenses as a result of higher volumes. Conversely, lower maintenance costs were among the factors that had a mitigating effect on expenses.
• Personnel expenses also increased, largely as a result of collective bargaining agreements and a higher average number of employees, especially in Germany and Belgium.
• Other operating expenses were at virtually the same level as in the previous year.

In contrast, the decrease in depreciation had a dampening effect:

• Depreciation decreased significantly, largely due to the absence of special items from the previous year (unscheduled software depreciations).

The growth in capital expenditures resulted mainly from higher additions of freight cars.

The number of employees was at the same level as in the previous year.

• Positive effects from recovery-driven increase in demand and train-path price reductions in France.
• Restrictions caused by Brexit in the United Kingdom, the semiconductor shortage and economic weakness in Spain had a dampening effect on development.
• Restructuring was driven forward in France.

The performance development in Western Europe also grew:

• Developments at DB Cargo UK were positive despite the economic consequences of Brexit, although volumes did not return to pre-Covid-19 levels.
• The situation at DB Cargo France reflects the successes of the restructuring program, which were also bolstered by the economic recovery in France.
• There was a dampening effect from a decline in transport services in Spain. This was attributable both to temporary factory closures in the automotive industry caused by the semiconductor shortage, and to the economic consequences of Brexit for transport between Spain and the United Kingdom.

The economic development improved as a result of increases in volume, but remained challenging. Operating profit figures rose as a result of the increase in income:

• The recovery in demand had a positive effect on revenue development.
• There were dampening effects from lower other operating income as a result of reduced maintenance services for third parties at DB Cargo UK.

Expenses rose slightly:

• Cost of materials increased, largely for volume reasons (higher costs for energy and service procurement). This was partially counteracted by a reduction in train-path pri­­ces in France. Adjusted for exchange rates, the increase was less significant.
• Personnel expenses increased as a result of higher pension costs at DB Cargo UK and wage increases.
• Other operating expenses increased for exchange rate reasons; adjusted, they were at the previous year’s level.
• Depreciation was at the previous year’s level.

Capital expenditures increased due to leasing activities.

The number of employees was slightly below the previous year’s level due to restructuring measures in France.

• Covid-19 recovery effects and new transport services had a significantly positive effect, particularly in the Czech Republic.
• Optimization of the product and transport portfolio driven forward.

¹⁾ Previous years figures adjusted due to changes in the presentation of Eurasian transport (from the Eastern Europe region to the Central Europe region).

The performance development in Eastern Europe, driven by recovery effects following the decline in transport in 2020 due to the Covid-19 pandemic, increased significantly and ex­­­ceeded pre-Covid-19 levels. These developments were also bolstered by new transport services in Romania.

The economic development was pleasing: operating profit figures recovered significantly. This was driven by a growth in income:

• Revenues increased significantly, partly as a result of demand. The expansion of available offers in the Czech Re­public and additional transport services in Romania also supported this. Exchange rate effects had a dampening effect.
• Other operating income increased, partly as a result of asset sales.

In terms of expenses, there was a clear volume-related increase, although the increase was lower than the increase
in volumes.

• Cost of materials increased significantly, largely as a result of the recovery in demand, an increase in purchased transport services and rising energy costs. Exchange rate effects had a partially compensating effect.
• Personnel expenses increased, largely as a result of collective bargaining agreements. This was also partially compensated for by positive exchange rate effects.
• Other operating expenses also increased. In particular, additional rentals of rolling stock had an effect.

In contrast, the decline in other expense items had a dampening effect:

• Depreciation decreased as a result of lower capital expenditure activities during the business year.

Capital expenditures increased significantly, mainly as a result of the acquisition of locomotives and freight cars in Poland.

The number of employees was at the same level as in the previous year. A volume-related increase in personnel in the Czech Republic and Romania was almost entirely offset by effects from supply adjustments in Poland and Bulgaria.