Deutsche Bahn’s 2023 results reveal that DB Schenker, despite being part of a loss-making company, plays a crucial role in maintaining DB’s overall performance. The company acknowledged the positive contribution of DB Schenker, even though freight rates in air and ocean had normalized, resulting in a decrease in revenues and adjusted ebit for Schenker.
Schenker’s revenues dropped by over 30% in 2023 compared to 2022, with a significant decline in air and ocean freight volumes affecting its performance. Despite these challenges, Schenker remains confident in its future prospects within the logistics market.
The shift in the market dynamics, particularly in airfreight, impacted Schenker’s operations. However, the company highlighted its focus on delivering high-quality service and its vision to lead as an integrated transport and logistics provider globally.
Employee numbers at Schenker decreased due to lower transport volumes and efficiency programs in contract logistics. The limitations in investment under DB ownership were a point of contention for Schenker, with capital expenditure remaining relatively low compared to Deutsche Bahn’s overall investment.
Deutsche Bahn’s increased capital expenditure towards rail infrastructure modernization signaled a strategic shift, with the company aiming for significant improvements in its operations. Despite a decline in adjusted ebit for 2023, the company is optimistic about its future performance and revenue forecasts for the coming years.
DB Cargo, on the other hand, experienced revenue growth but reported a loss in adjusted ebitda. The potential restructuring of DB Cargo into six divisions reflects the company’s efforts to streamline its operations and improve financial performance.
