Deviations from the forecast
| Outlook for the 2024 financial year / € billion | 2023 | 2024 (Mar 2024 forecast) | 2024 (Jul 2024 forecast) | 2024 |
|---|---|---|---|---|
| Gross capital expenditures 1) | 15.9 | ~ 21 | ~ 21 | 18.2 |
| Net capital expenditures 1) | 6.6 | >11 | ~ 11 | 9.0 |
| Maturities | 2.4 | 2.1 | 2.1 | 2.1 |
| Bond issues (senior) | 3.0 | >1 | ~ 2 | 1.1 |
| Net financial debt as of Dec 31 | 34.0 | ~ 34 | <34 | 32.6 |
1) Figure for 2023 adjusted due to the reclassification of DB Schenker.
Overall, performance in 2024 was slightly better than expected.
- Capital expenditures were slightly below our expectations as vehicle projects were postponed and construction projects were delayed. In addition, our forecast was based on DB Group including DB Schenker. As a result of the planned sale, DB Schenker’s capital expenditures are no longer reported in 2024.
- In anticipation of the cash inflow from the sale of DB Schenker in 2025, we have taken on more short-term financial debt and significantly reduced the issue of senior bonds in the course of the year 2024.
- Net financial debt developed slightly better, as the cash outflow for capital expenditures and working capital was lower than expected.