Development in the year under review
- Positive effect thanks to tender wins.
- Omission of negative strike effects led to positive overall development in 2025.
- Significant improvement in operating profit development – ongoing burdens at DB Regional Rail due to construction and infrastructure-related bottlenecks.
| DB Regional | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Punctuality (rail) (%) | 89.2 | 90.7 | –1.5 | – |
| Customer satisfaction (rail) (grade) | 2.2 | 2.2 | – | – |
| Customer satisfaction (bus) (grade) | 2.2 | 2.1 | +0.1 | – |
| Passengers (million) | 2,360 | 2,295 | +65 | +2.8 |
| thereof rail | 1,794 | 1,733 | +61 | +3.5 |
| Volume sold (million pkm) | 47,770 | 46,853 | +917 | +2.0 |
| thereof rail | 41,471 | 40,601 | +870 | +2.1 |
| Volume produced (rail) (million train-path km) | 424.2 | 406.6 | +17.6 | +4.3 |
| Volume produced (bus) (million bus km) | 552.4 | 554.0 | –1.6 | –0.3 |
| Total revenues (€ million) | 10,969 | 10,278 | +691 | +6.7 |
| External revenues (€ million) | 10,831 | 10,096 | +735 | +7.3 |
| Rail concession fees (€ million) | 7,788 | 7,152 | +636 | +8.9 |
| EBITDA adjusted (€ million) | 842 | 766 | +76 | +9.9 |
| EBIT adjusted (€ million) | 191 | 108 | +83 | +76.9 |
| Gross capital expenditures (€ million) | 684 | 498 | +186 | +37.3 |
| Employees as of Dec 31 1) (FTE) | 43,091 | 42,405 | +686 | +1.6 |
| Employees annual average 1) (FTE) | 42,972 | 41,131 | +1,841 | +4.5 |
| Employee satisfaction (SI) | – | 3.6 | – | – |
| Share of women as of Dec 31 (%) | 16.3 | 16.9 | –0.6 | – |
| Absolute greenhouse gas emissions (rail) Scope 1 and 2 compared to 2019 (%) | +3.3 | –13.1 | +16.4 | – |
| Absolute greenhouse gas emissions (bus) Scope 1 and 2 compared to 2019 (%) | +8.0 | +11.9 | –3.9 | – |
1) Since 2025 excluding interns and working students. Figures as of December 31, 2024, and for the previous year have not been adjusted.
Punctuality in rail transport decreased in 2025 in both regional and S-Bahn (metro) services.
The main drivers are structural problems in the area of infrastructure facilities, primarily due to failures in the superstructure and in command and control technology, capacity restrictions due to construction measures and hubs with selectively high capacity utilization.
The development of customer satisfaction was stable:
- DB Regional Rail: Passenger satisfaction with the current journey was unchanged in 2025. Both regional and S-Bahn (metro) rail services confirmed their satisfaction ratings from the previous year. The individual performance dimensions also largely repeated the previous year’s figures. Only fares were assessed more critically, particularly due to the increase in the price of the Germany-Ticket.
- DB Regional Road: Passenger satisfaction fell slightly in 2025. The assessments were more critical, particularly with regard to the range of tickets on offer and the price-performance ratio. In particular, regular customers with a Germany-Ticket or season ticket were more critical in their assessments.
Performance development at DB Regional across 2025 as a whole was positive, partly due to the omission of negative strike effects from the previous year as well as tender wins:
- DB Regional Rail: The number of passengers, the volume sold and the volume produced increased, in particular due to the omission of negative strike effects from the previous year. Positive effects also resulted from the commencement of operations following the award of contracts (especially the Saxony-Anhalt diesel network in December 2024 and Network 35 Stuttgart-Bodensee in August 2025). This was partially offset by the omission of positive effects in connection with Germany’s hosting of the UEFA Euro 2024 football tournament in the previous year.
- DB Regional Road: Performance was roughly on a par with the previous year.
The economic development of DB Regional improved significantly in 2025. The growth in income, especially as a result of higher concession fees, was only partially offset by additional burdens, particularly at DB Regional Rail, including higher expenses due to increased performance and higher personnel costs. Operating profit figures saw a noticeable improvement, while adjusted EBIT was noticeably positive.
The income trend was noticeably positive overall:
- Revenues (+6.7 % /€ +691 million): Noticeable increase mainly due to higher concession fees driven by price and volume factors, including in connection with performance gains and the omission of negative strike effects. This was partly offset by the decline in revenues from final invoices under transport contracts in particular.
- Other operating income (–12.0 % /€ –106 million): Significant decline, mainly driven by lower Government grants not relating to the period in connection with the Covid-19 pandemic (industry solution for local public transport). This was partially offset by higher income in connection with delays in the delivery of buses, among other things.
On the expenses side, there were additional burdens due to collective wage increases and the higher number of employees as well as price- and volume-related increases in infrastructure utilization expenses, although these were less pronounced than on the income side:
- Personnel expenses (+9.8 % /€ +270 million): Significant increase, mainly due to collective bargaining effects and an increase in the number of employees, including as a result of tender wins (DB Regional Rail and DB Regional Road).
- Cost of materials (+2.5 %/€ +167 million): Slight increase in particular as a result of price- and volume-related higher expenses for infrastructure utilization, the intensification of measures in the area of vehicle maintenance and to improve cleanliness and security. In contrast, a volume-related decline in purchased transport services at DB Regional Road had a dampening effect, as more transport services were provided by own resources.
- Other operating expenses (+7.6 %/€ +78 million): Significant increase, mainly due to higher additions to provisions for impending losses and negative effects as a result of impairments in connection with IT projects. This was partially offset by the decline in intra-Group services.
Depreciation decreased slightly in the opposite direction:
- Depreciation (–1.1 % /€ –7 million): Very slight decrease. Expense-reducing effects from vehicles reaching the end of their useful lives and having their useful lives extended (DB Regional Rail) were largely offset by higher depreciation due to capital expenditures.
Capital expenditure activities increased significantly in line with the requirements of the transport contracts awarded driven by DB Regional Road.
The increase in the number of employees was mainly performance-related. The increased demand was mainly covered by the transfer of multiple unit drivers from DB Cargo, the hiring of vocational trainees after completion of their training and the transfer of employees following a change of operator at DB Regional Rail.
The share of women as of December 31, 2025, was below the level at the end of the previous year.
The absolute Scope 1 and 2 greenhouse gas emissions at DB Regional Rail increased in 2025 compared to 2019 and thus deteriorated compared to the previous year. This was partly due to the commissioning of additional transports.
At DB Regional Road, absolute Scope 1 and 2 greenhouse gas emissions from the operation of buses fell compared to the previous year, but remained at a significantly higher level than in the base year 2019. This was due to the reduction in the volume produced.
- Further increase in volume sold, mainly due to the omission of negative strike effects.
- Adjusted EBIT positive thanks to income development and countermeasures.
- Continued burdens due to construction and infrastructure-related bottlenecks.
| DB Regional Rail line of business | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Passengers (million) | 1,794 | 1,733 | +61 | +3.5 |
| Volume sold (million pkm) | 41,471 | 40,601 | +870 | +2.1 |
| Volume produced (million train-path km) | 424.2 | 406.6 | +17.6 | +4.3 |
| Total revenues (€ million) | 9,405 | 8,770 | +635 | +7.2 |
| External revenues (€ million) | 9,292 | 8,653 | +639 | +7.4 |
| Rail concession fees (€ million) | 7,788 | 7,152 | +636 | +8.9 |
| EBITDA adjusted (€ million) | 718 | 697 | +21 | +3.0 |
| EBIT adjusted (€ million) | 180 | 141 | +39 | +27.7 |
| Gross capital expenditures (€ million) | 376 | 361 | +15 | +4.2 |
| Employees as of Dec 31 1) (FTE) | 31,456 | 30,871 | +585 | +1.9 |
1) Since 2025 excluding interns and working students. Figures as of December 31, 2024, have not been adjusted.
The positive demand trend continued in 2025. The omission of negative effects from the strikes in the previous year and the start of operations of the Saxony-Anhalt diesel network and Network 35 Baden-Württemberg had a noticeably positive effect. The number of passengers, the volume sold and the volume produced increased as a result. Among other things, the omission of positive effects in connection with the UEFA EURO 24 European Football Championship had a dampening effect.
Economic development was positive. The revenue growth was accompanied by a less significant increase in expenses.
- Income increased significantly: This was mainly driven by higher concession fees, service growth and the omission of negative strike effects. Lower Government grants not relating to the period in connection with the Covid-19 pandemic (industry solution for local public transport) and lower revenues, particularly from final invoices under transport contracts had a dampening effect.
- The increase in expenses was less pronounced: The main adverse factors were higher personnel expenses as a result of tariff increases and the higher number of employees. In addition, price and volume effects (performance growth and the omission of strike effects from the previous year) led to higher expenses for infrastructure utilization. Additional burdens also resulted from the intensification of measures for vehicle maintenance, cleaning and security, among other things. These effects were partially offset by the countermeasures initiated.
Capital expenditure activities developed in line with the requirements from transport contracts awarded. Gross capital expenditures increased. Net capital expenditures developed in the opposite direction due to higher grants.
The increase in the number of employees was mainly performance-related. The increased demand was mainly covered by the transfer of multiple unit drivers from DB Cargo, the hiring of vocational trainees after completion of their training and the transfer of employees following a change of operator.
- Performance gains drive positive development. Positive effects in scheduled transport and rail substitute transport.
- Significant improvement in operating profit – negative effects due in particular to collective bargaining effects and delayed vehicle deliveries.
| DB Regional Road line of business | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Passengers (million) | 565.5 | 561.2 | +4.3 | +0.8 |
| Volume sold (million pkm) | 6,298 | 6,252 | +46 | +0.7 |
| Volume produced (million bus km) | 552.4 | 554.0 | –1.6 | –0.3 |
| Total revenues (€ million) | 1,895 | 1,839 | +56 | +3.0 |
| External revenues (€ million) | 1,540 | 1,444 | +96 | +6.6 |
| EBITDA adjusted (€ million) | 124 | 70 | +54 | +77.1 |
| EBIT adjusted (€ million) | 11 | –33 | +44 | – |
| Gross capital expenditures (€ million) | 308 | 137 | +171 | +125 |
| Employees as of Dec 31 1) (FTE) | 11,635 | 11,534 | +101 | +0.9 |
1) Since 2025 excluding interns and working students. Figures as of December 31, 2024, have not been adjusted.
The performance development of DB Regional Road was slightly above the previous year’s level. The operating profit figures improved significantly as income rose faster than expenses. Adjusted EBIT was positive again, but the economic situation remains challenging overall.
- Income increased significantly: The main drivers were higher concession fees and increased income in connection with the delayed delivery of buses. The omission of strike effects from the previous year also served to increase income. Lower income from the reversal and utilization of provisions had a partially dampening effect.
- Expenses increased: In particular, the main drivers were the significant increase in personnel expenses (due to collective bargaining agreements and the higher number of employees) and maintenance expenses (due to the delayed delivery of new vehicles) as well as higher depreciation due to capital expenditures. In particular, this was partially offset by a volume-related decline in purchased transport services in connection with the strategic alignment in favor of transports operated internally as well as the omission of expenses in connection with strikes in the previous year.
Capital expenditure activities developed in line with the requirements from transport contracts awarded and increased significantly.
The increase in the number of employees was mainly attributable to the higher number of drivers as a result of performance gains.