Capital expenditures
Capital expenditures / € million | 2023 | 2022 | Change | |
absolute | % | |||
Gross capital expenditures 1) | 16,867 | 15,098 | +1,769 | +11.7 |
thereof Integrated Rail System | 15,917 | 14,152 | +1,765 | +12.5 |
Investment grants 1) | 9,289 | 8,574 | +715 | +8.3 |
thereof Integrated Rail System | 9,286 | 8,574 | +712 | +8.3 |
Net capital expenditures 1) | 7,578 | 6,524 | +1,054 | +16.2 |
thereof Integrated Rail System | 6,631 | 5,578 | +1,053 | +18.9 |
1) Value for 2022 adjusted due to reclassification of DB Arriva.
Gross capital expenditures increased significantly, driven by higher capital expenditures to improve the quality and availability of the track infrastructure in the Integrated Rail System. DB Long-Distance continued to invest at the high level of the previous year, particularly in the vehicle fleet. DB Schenker’s capital expenditure activities (especially leasing assets in Europe, America and Asia) were also at the previous year’s level. In rail freight and local passenger transport, capital expenditures in the vehicle fleet declined due to performance and tenders.
Investment grants, which are almost exclusively attributable to the Integrated Rail System, increased as a result of higher capital expenditures in the new construction and expansion of the rail network.They accounted for about 55% of gross capital expenditures (previous year: about 57%).
Net capital expenditures increased significantly, driven by the development of the Integrated Rail System. This was primarily due to the implementation of additional measures to improve the quality and availability of infrastructure, particularly at DB Netze Track. The main driver was the pre-
financing of measures for the Federal Government.
Values for 2022 adjusted due to reclassification of DB Arriva.
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.
Regional capital expenditure priorities
Gross capital expenditures by regions / € million | 2023 | 2022 | Change | |
absolute | % | |||
Germany | 16,062 | 14,273 | +1,789 | +12.5 |
Europe (excluding Germany) 1) | 600 | 546 | +54 | +9.9 |
Asia/Pacific | 180 | 247 | –67 | –27.1 |
North America | 121 | 106 | +15 | +14.2 |
Rest of world | 23 | 39 | –16 | –41.0 |
Consolidation | –119 | –113 | –6 | +5.3 |
DB Group | 16,867 | 15,098 | +1,769 | +11.7 |
1) Value for 2022 adjusted due to reclassification of DB Arriva.
Net capital expenditures by regions / € million | 2023 | 2022 | Change | |
absolute | % | |||
Germany | 6,782 | 5,709 | +1,073 | +18.8 |
Europe (excluding Germany) 1) | 595 | 536 | +59 | +11.0 |
Asia/Pacific | 176 | 247 | –71 | –28.7 |
North America | 121 | 106 | +15 | +14.2 |
Rest of world | 23 | 39 | –16 | –41.0 |
Consolidation | –119 | –113 | –6 | +5.3 |
DB Group | 7,578 | 6,524 | +1,054 | +16.2 |
1) Value for 2022 adjusted due to reclassification of DB Arriva.
In the regional breakdown of gross and net capital expenditures, the focus remained on Germany. They rose significantly as a result of higher infrastructure capital expenditures.
The development of capital expenditures in the remaining regions was driven by regional developments at DB Schenker.
Values for 2022 adjusted due to reclassification of DB Arriva.
Investment grants
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 2023, the vast majority related to infrastructure.
- The main bases for these grants are 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 noise remediation program of the Federal Government, 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 acquisition cost and cost of production 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.
