Revenues
| Revenues / € million | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Revenues | 26,985 | 26,203 | +782 | +3.0 |
| Special items | 25 | 24 | +1 | +4.2 |
| Adjusted revenues | 27,010 | 26,227 | 783 | +3.0 |
| Changes in the scope of consolidation | –56 | – | –56 | – |
| Exchange rate changes | 3 | – | +3 | – |
| Revenues comparable | 26,957 | 26,227 | +730 | +2.8 |
| Adjusted revenues (incl. discontinued operations) 1) | 33,150 | 47,176 | –14,026 | –29.7 |
| thereof discontinued operations 1) | 6,140 | 20,949 | –14,809 | –70.7 |
1) Contains the figures of DB Schenker for 2025 from January 1 to April 30, 2025, and for 2024 from January 1 to June 30, 2024, and the figures of DB Arriva from January 1 to May 31, 2024.
The revenue development was slightly better in 2025. Revenue growth resulted, among other things, from the absence of strike effects, positive price effects, especially at DB Regional (in particular from the dynamization of concession fees) and DB InfraGO, as well as performance growth at DB Long-Distance. Burdens resulted from a lack of economic impetus (particularly at DB Cargo). The discontinuation of unprofitable transports at DB Cargo also had a revenue-reducing effect. In addition, the persistently weak service quality and construction-related restrictions had a dampening effect on demand in passenger transport.
Special items continued to be irrelevant for revenue development. Changes in the scope of consolidation and exchange rate changes also had no significant impact.
The decline in revenues of discontinued operations was mainly due to the fact that DB Schenker was only included in the consolidated financial statements for four months due to the completion of the sale in the first half of 2025. In addition, revenues from DB Arriva were included for five months in 2024.
Revenue structure
| External revenue structure adjusted / % | 2025 | 2024 | Change in percentage points |
|---|---|---|---|
| DB Long-Distance | 22.0 | 21.6 | +0.4 |
| DB Regional | 40.1 | 38.5 | +1.6 |
| DB Cargo | 17.2 | 19.3 | –2.1 |
| DB InfraGO 1) | 11.7 | 11.8 | –0.1 |
| DB Energy | 5.6 | 5.7 | –0.1 |
| Subsidiaries / Other 1) | 3.4 | 3.1 | +0.3 |
| DB Group | 100 | 100 | – |
1) Figures for 2024 adjusted due to the merger of DB Kommunikationstechnik GmbH.
The revenue structure has not changed significantly in 2025. Among other things, DB Regional’s share of revenues increased as a result of higher concession fees, in particular. In contrast, DB Cargo’s share of revenues decreased as a result of lower performance.
| External revenues adjusted by regions/ € million | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Germany | 25,836 | 24,970 | +866 | +3.5 |
| Europe (excluding Germany) | 1,033 | 1,103 | –70 | –6.3 |
| Rest of world | 141 | 154 | –13 | –8.4 |
| DB Group | 27,010 | 26,227 | +783 | +3.0 |
The regional revenue structure has not changed significantly in 2025 and is characterized by activities in Germany:
- In Germany, revenue growth was recorded by DB Regional, DB Long-Distance and DB InfraGO, in particular. Burdens resulted from construction-related restrictions, weak operating quality and lower performance at DB Cargo.
- In Europe (excluding Germany), the development of DB Cargo in Spain (€ –40 million), the United Kingdom (€ –39 million) and Sweden (€ –31 million) was a key driver. Developments in Poland (€ +26 million) and France (€ +17 million) had a partially offsetting effect.
- In the Rest of world region, revenues declined significantly from a low base, driven by developments at the DB E.C.O. Group in North America.