2018 Integrated Report – On track towards a better Railway

Business development

Slight deviations from the projected financial position and asset situation

Outlook for 2018 financial year (€ billion)

2017

2018
(March 2018
forecest)

2018
(July 2018
forecast)

2018

 

Gross capital expenditures

10.5

>12

~12

11.2

Net capital expenditures

3.7

>4.5

~4.5

4.0

Maturities

2.1

2.2

2.2

2.2

Bond issues

2.0

≤3.0

3

2.9

Cash and cash equivalents as of Dec 31

3.4

~3

~3

3.5

Net financial debt as of Dec 31

18.6

≤20

≤20

19.5

Capital expenditures were slightly lower than forecasted. In particular, vehicle capital expenditures at DB Regional and DB Long-Distance were not as high as expected, re­­sult­­­­­­ing in rather lower net capital expenditures than forecast.

With respect to DB Groupʼs financial position, actual developments in the year under review corresponded with our forecast for maturities and bond issues.

The account balance of cash and cash equivalents at year-end 2018 developed slightly better than expected as a result of lower than expected capital expenditures.

Net financial debt developed slightly better than expected.