Development in the year under review
- Improvements in operating profits, particularly at DB Operational Services.
- Decrease in the number of employees, primarily due to adjustments to personnel requirements.
| Subsidiaries/Other | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Total revenues 1) (€ million) | 7,154 | 6,991 | +163 | +2.3 |
| DB Business Services | 3 | 3 | – | – |
| DB Operational Services 1) | 7,971 | 7,846 | +125 | +1.6 |
| Other/consolidation 1) | –820 | –858 | +38 | –4.4 |
| External revenues 1) (€ million) | 914 | 815 | +99 | +12.1 |
| EBITDA adjusted 1) (€ million) | 689 | 472 | +217 | +46.0 |
| EBIT adjusted 1) (€ million) | 8 | –190 | +198 | – |
| DB Business Services | –151 | –169 | +18 | –10.7 |
| DB Operational Services 1) | 367 | 204 | +163 | +79.9 |
| Other 1) | –208 | –225 | +17 | –7.6 |
| Gross capital expenditures 1) (€ million) | 955 | 1,170 | –215 | –18.4 |
| DB Business Services | 0 | 3 | –3 | –100 |
| DB Operational Services 1) | 713 | 745 | –32 | –4.3 |
| Other | 242 | 422 | –180 | –42.7 |
| DB-financed net capital expenditures 1) (€ million) | 955 | 1,169 | –214 | –18.3 |
| Employees as of Dec 31 1), 2) (FTE) | 55,304 | 59,071 | –3,767 | –6.4 |
| DB Business Services 2) | 9,656 | 11,398 | –1,742 | –15.3 |
| DB Operational Services 1), 2) | 43,252 | 45,136 | –1,884 | –4.2 |
| Other 2) | 2,396 | 2,537 | –141 | –5.6 |
| Employees annual average 1), 2) (FTE) | 57,170 | 59,615 | –2,445 | –4.1 |
1) Figure for 2024 adjusted due to the merger of DB Kommunikationstechnik GmbHµ 108.
2) Since 2025 excluding interns and working students. Figures as of December 31, 2024 and for the previous year have not been adjusted.
The increase in total revenues was driven by the higher revenues generated by DB Operational Services companies with non-Group customers, which rose significantly at a low level. This was primarily due to an increase in project-based business (DB Rail Construction). Conversely, the omission of revenues from DB E.C.O. Group’s operations in Canada in particular had a dampening effect following the termination of the contract.
Revenues from intra-Group customers of DB Operational Services companies also increased. This was primarily due to changes in service requests from customers at DB Vehicle Maintenance, additional contracts for the protection of critical infrastructure at DB Security and higher rental revenues at DB Connect driven by increased volumes. This was partially offset by lower revenues at DB Systel, among others, as a result of changed demand for IT and consulting solutions.
Overall, expenses declined slightly. Lower expenses for purchased services at DB Systel and DB Sales, driven by lower volumes, were largely offset by additional costs related to, among other things, higher depreciation in connection with capital expenditures as well as personnel costs in connection with higher health insurance contributions.
The operating profit of the Subsidiaries/Other area is largely determined by the functions of Group management and the dependent and independent service entities that rendered services for the business units. Operating profit figures performed significantly better, as income rose – primarily due to higher demand both within and outside the Group – while expenses declined slightly. The main drivers behind the positive profit development were DB Vehicle Maintenance, DB Rail Construction and DB Sales, as well as expense reductions in Group management and at DB Business Services. DB Real Estate’s profit development was curbed by non-recurring effects resulting from impairment losses on lease agreements.
The decline in capital expenditures was mainly due to the fact that the effects of extending and amending existing lease agreements and entering into new ones at DB Real Estate were significantly greater in the previous year. Conversely, additional capital expenditures – including those related to the progress of IT projects, as well as capital expenditures in the depot network and construction equipment – had a dampening effect on growth.
The number of employees declined, driven by adjustments to personnel requirements (primarily at DB AG, as well as at DB Services, DB Temporary Work, DB Systel, DB Vehicle Maintenance and DB Sales). The internal transfer of the planning and acceptance testing division of DB Engineering & Consulting GmbH, as well as of parts of DB Real Estate, to DB InfraGO AG and the disposal of equity interests in companies supported this development. The effects of a contract won in India by DB E.C.O. Group had a partially offsetting impact.