2017 Integrated Report – Departure into a new era

Development in the year under review

  • Increased demand from new traffic and increased schedule frequencies.
  • Rental revenues are driven by price effects.
  • Negative impact from higher expenses for personnel.
  • Measures to further reduce energy consumption pressed ahead.

    DB Netze Stations

    2017

    2016

    Change

     

    2015

    absolute

    %

    Number of stations

    5,365

    5,367

    –2

    5,382

    Station stops (million)

    150.0

    149.4

    + 0.6

    + 0.4

    147.8

    thereof non-Group railways

    35.9

    35.3

    + 0.6

    + 1.7

    31.4

    Facilities quality 1) (grade)

    2.89

    2.92

    2.94

    Customer satisfaction, traffic station (passengers/visitors) (SI)

    69

    69

    69

    Customer satisfaction, traffic station (TOCs and transport authorities) (SI)

    62

    62

    65

    Customer satisfaction, tenants (SI)

    78

    78

    77

    Total revenues (€ million)

    1,265

    1,233

    + 32

    + 2.6

    1,199

    thereof station revenues (€ million)

    851

    831

    + 20

    + 2.4

    807

    thereof rental (€ million)

    384

    377

    +7

    +1.9

    370

    External revenues (€ million)

    540

    519

    + 21

    + 4.0

    480

    EBITDA adjusted (€ million)

    372

    359

    + 13

    + 3.6

    391

    EBIT adjusted (€ million)

    233

    221

    + 12

    + 5.4

    254

    ROCE (%)

    8.4

    7.9

    9.0

    Capital employed as of Dec 31 (€ million)

    2,766

    2,777

    – 11

    – 0.4

    2,811

    Net financial debt as of Dec 31 (€ million)

    1,268

    1,257

    + 11

    + 0.9

    1,294

    Redemption coverage (%)

    23.0

    22.0

    25.0

    Gross capital expenditures (€ million)

    709

    584

    + 125

    + 21.4

    533

    Net capital expenditures (€ million)

    103

    117

    – 14

    – 12.0

    88

    Employees as of Dec 31 (FTE)

    5,463

    5,093

    + 370

    + 7.3

    4,982

    Employee satisfaction (SI)

    3.7

    Employee satisfaction – follow-up workshop implementation rate (%)

    97.8

    99.1

    Share of women in Germany as of Dec 31 (%)

    46.2

    47.3

    47.6

    Absolute primary energy consumption (stations) compared to 2010 (%)

    –17.1

    –16.8

    –16.6

    1) Preliminary figure for 2017.

    Performance development was marked by a slight increase in the number of station stops. This was mainly due to increased schedule frequencies and additional traffic in regional transport. This was counteracted by the absence of the additional day of service in the previous year (leap year). In particular, the higher demand was driven by non-Group railways.

    The quality of the facilities improved slightly from an already good level. Facilities quality is assessed locally and is determined on the basis of a detailed calculation and weighting algorithm in accordance with the provisions of the LuFV II.

    Customer satisfaction remained stable. To assess customer satisfaction, about 29,000 passengers are asked each year, in two waves, about their satisfaction with the stations, and about 60 tenants and about 90 public transport authorities are surveyed annually. The economic trend was positive. Overall, higher income compensated for the increase in expenses, particularly in personnel expenses, resulting in an improvement in operating profit. 

    • The rise in revenues is attributable to higher station revenues as a result of volume and prices as well as higher revenues from rental and leasing. The development of external revenues reflects the growing market share of non-Group railways.
    • Other operating income increased substantially (+ 9.1%), primarily due to higher investment grants and higher insurance and compensation benefits.
    • Cost of materials (– 2.7%) decreased. Lower expenses for maintenance and energy were partly offset by higher costs for personnel services.
    • Personnel expenses (+ 9.8%) increased significantly. This was mainly due to the higher number of employees and wage increases.
    • Among other things, other operating expenses rose (+ 10.7%) because of higher expenses due to the in­­crease in the number of employees as well as higher costs of IT and communication services.
    • Depreciation was roughly at the previous yearʼs level (+ 0.7%).

    The positive EBIT development resulted in an increase in the ROCE since capital employed remained roughly stable.

    Net financial debt increased slightly, mainly as a result of higher other liabilities.

    Among other things, the profit-driven higher cash flow from operating activities had a positive impact on redemption coverage.

    The higher capital expenditures were focused primarily on renovating existing stations and projects under Railway of the Future.

    The number of employees rose due to the increase in personnel in the areas of station services, construction management and facilities management. The development of business at Station Food GmbH, which was founded in the previous year, also had an impact.

    Employee satisfaction is measured every two years. In the year under review, the focus was on follow-up processes. The follow-up workshop implementation rate for the 2016 employee survey was again very high.

    The share of women decreased slightly. This was due to the increase in personnel in professional groups composed mainly of male applicants.

    With the further reduction of the primary energy consumption of the stations, for example through the use of energy-saving technologies, the positive trend of the past years is continuing.