It is arguably the worst half-year balance sheet of Deutsche Bahn – and that has more than just something to do with the corona pandemic. CEO Richard Lutz speaks of the worst financial crisis in existence.
Berlin – Deutsche Bahn expects record loss in 2020 in current business. At the end of the year, a loss of up to 3.5 billion euros before interest and taxes (EBIT) is expected, the federal company announced on Thursday. Sales could drop to up to 38.5 billion euros. In 2019, it was 44.4 billion euros. The forecast is fraught with high uncertainty, it said.
“The virus abruptly slowed down our successful growth course and plunged DB into the worst financial crisis since its inception,” said CEO Richard Lutz.
3.7 billion euros lost in the first half of the year
In the first half of the year, consolidated sales fell by almost twelve percent year-on-year to EUR 19.4 billion. The operating loss (EBIT) was 1.8 billion euros. The group attributed this primarily to the consequences of the corona pandemic.
Read here: Railway crisis of historic proportions
In addition, there is a special depreciation on the foreign subsidiary Arriva in the amount of 1.4 billion euros. In addition to the consequences of the pandemic in Spain and Italy, for example, it is also due to the UK’s exit from the EU and problems on the British market. The bottom line was a loss of 3.7 billion euros in the first half of the year, as was announced on Tuesday.