Project implementation

Our measures involve not only large capital expenditure volumes, but also a large number of highly complex projects such as Stuttgart 21. Changes in the legal framework, delays in implementation (including due to more extensive public participation), higher award prices, construction issues, necessary adjustments during terms often lasting several years, deviations from the increase in funding for capital expenditures agreed with the Federal Government, or changes to purchase prices may lead to project and liquidity risks. The networked production structure means that these can often affect a number of business units. For example, in such cases, planned shifts in the mode of transport from road to rail may not be feasible. We take these developments into account by closely monitoring projects. The assessment of the impact on project costs resulting from the delay in the commissioning of Stuttgart 21 will be based on a revised commissioning plan.

When implementing planned measures from various programs, there is a risk that the intended effects will either not be achieved at all, will be achieved only to a limited extent, and/or will be delayed. At the same time, however, there is also a chance that the effects will exceed expectations.