Capital expenditures
| Capital expenditures / € million | 2024 | 2023 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Gross capital expenditures 1) | 18,247 | 15,917 | +2,330 | +14.6 |
| Investment grants 1) | 9,218 | 9,286 | –68 | –0.7 |
| Net capital expenditures | 9,029 | 6,631 | +2,398 | +36.2 |
| Equity increases by the Federal Government to finance infrastructurecapital expenditures 2), 3) | 3,085 | 1,290 | +1,795 | +139 |
| DB-financed net capital expenditures | 5,944 | 5,341 | +603 | +11.3 |
1) Figure for 2023 adjusted due to the reclassification of DB Schenker.
2) Excluding equity injections in conjunction with the Climate Action Program.
3) Cash inflow in 2024 also retroactively for 2023.
- The development of gross capital expenditures was largely driven by higher capital expenditures to improve the quality and availability of the rail infrastructure. In rail freight transport, capital expenditures in the vehicle fleet increased. In passenger transport, capital expenditures decreased significantly overall, partly due to the finalization of vehicle projects.
- The reported net capital expenditures have also increased significantly. As a result of the Federal Government’s decision to provide funds for capital expenditures in the rail network from 2024 also in the form of equity increases, these must also be taken into account on a comparable basis when considering the net capital expenditures. The corresponding Government funds were therefore deducted from the gross capital expenditures in the same way as the investment grants to determine the DB-financed net capital expenditures.
- Investment grants and equity increases as part of infrastructure financing increased significantly overall. In total, they accounted for about 67% (previous year: about 66%) of gross capital expenditures.
- Investment grants, which are also largely attributable to infrastructure in 2024, were roughly on a par with the previous year.
- Capital expenditures financed by means of equity increases rose significantly. These were exclusively infrastructure capital expenditures. In the previous year, these were initially financed as pre-financings from DB funds and then replaced in 2024 by funds from the Federal Government’s equity increases.
The focus of our capital expenditure activities remains on improving the performance capability, efficiency and quality of our rail infrastructure and expanding our vehicle fleet.