Capital expenditures
Capital expenditures / € million | 2022 | 2021 | Change | 2019 | |
absolute | % | ||||
Gross capital expenditures | 15,353 | 15,387 | –34 | –0.2 | 13,093 |
thereof Integrated Rail System 1) | 14,152 | 14,278 | –126 | –0.9 | 11,713 |
Investment grants | 8,603 | 9,045 | –442 | –4.9 | 7,447 |
thereof Integrated Rail System | 8,574 | 9,027 | –453 | –5.0 | 7,412 |
Net capital expenditures | 6,750 | 6,342 | +408 | +6.4 | 5,646 |
thereof Integrated Rail System 1) | 5,578 | 5,251 | +327 | +6.2 | 4,301 |
1) Figure for 2021 adjusted due to the intra-Group reallocation of the FLS business area.
Gross capital expenditures were at the high level of the previous year. In the Integrated Rail System, higher capital expenditures, primarily in the vehicle fleet, were more than offset by somewhat lower infrastructure capital expenditures. The increase in capital expenditure activities at DB Schenker (especially leasing activities in Europe and Asia) had a supporting effect.
Investment grants, which are almost exclusively attributable to the Integrated Rail System, fell at a high level as a result of lower capital expenditures on the construction and expansion of the rail network (mainly as a result of the completion of the Wendlingen—Ulm high-speed line). Accounting for about 56% of gross capital expenditures (previous year: about 59%).
Net capital expenditures increased. The main impact on the Integrated Rail System was the increase in capital expenditures in vehicles at DB Long-Distance and DB Regional, as well as the construction and maintenance of stations at DB Netze Stations.
The focus of our capital expenditure activities continues to center on the Integrated Rail System for measures to improve performance and efficiency in the track infrastructure area as well as measures to develop our vehicle fleet.
Net capital expenditures by regions / € million | 2022 | 2021 | Change |
2019 | |
absolute | % | ||||
Germany | 14,273 | 14,363 | –90 | –0.6 | 11,826 |
Europe (excluding Germany) | 801 | 833 | –32 | –3.8 | 1,186 |
Asia/Pacific | 247 | 258 | –11 | –4.3 | 133 |
North America | 106 | 40 | +66 | +165 | 37 |
Rest of world | 39 | 13 | +26 | – | 13 |
Consolidation | –113 | –120 | +7 | –5.8 | ‒102 |
DB Group | 15,353 | 15,387 | –34 | –0.2 | 13,093 |
Gross capital expenditures by regions / € million | 2022 | 2021 | Change |
2019 | |
absolute | % | ||||
Germany | 5,709 | 5,338 | +371 | +7.0 | 4,414 |
Europe (excluding Germany) | 762 | 813 | –51 | –6.3 | 1,151 |
Asia/Pacific | 247 | 258 | –11 | –4.3 | 133 |
North America | 106 | 40 | +66 | +165 | 37 |
Rest of world | 39 | 13 | +26 | – | 13 |
Consolidation | –113 | –120 | +7 | –5.8 | ‒102 |
DB Group | 6,750 | 6,342 | +408 | +6.4 | 5,646 |
In the regional breakdown of gross capital expenditures, the focus remained on Germany. They were at the level of the previous year. Net capital expenditures, on the other hand, increased significantly as a result of higher capital expenditures on vehicles.
Capital expenditures have decreased in Europe (excluding Germany). This was mainly due to lower capital expenditures at DB Cargo due to delivery-related delays in the procurement of freight cars.
The development of capital expenditures in the Asia/Pacific, North America and rest of world regions was driven by regional developments at DB Schenker.
The most important funding sources for capital expenditures on infrastructure are grants, mostly from the Federal Government and from Federal states and local authorities. Of the investment grants received by DB Group in 2022, the vast majority related to infrastructure.
- Most of these are based on the LuFV and the Federal Rail Infrastructure Extension Act (Bundesschienenwegeausbaugesetz; BSWAG).
- Additional investment grants are received in accordance with the Municipal Transport Financing Act (Gemeindeverkehrsfinanzierungsgesetz; GVFG),
- the Federal Government’s noise remediation program, and
- to equip the infrastructure with the European Rail Traffic Management System (ERTMS).
- Funds are also available from the 2021 Reconstruction Fund to remedy flood-related infrastructure damage.
- The European Union allocates grants (Connecting Europe Facility; CEF) for infrastructure capital expenditures on Trans-European Networks (TEN).
In addition to investment grants, DB Group also receives (significantly lower) grants recognized as income, also mainly in respect of infrastructure.
On the balance sheet, investment grants are directly deducted from the purchase and manufacturing costs of the assets to which they relate. All grants are reported in such a way that the competent Federal agencies can conduct comprehensive checks to ensure that they are spent in accordance with their purpose and the law.
A description of the various forms of grants is available online.
