Our forecasts for the development of DB Group and the business units in the 2019 financial year are based on our expectations of developments in the market, competition and environment, and the implementation success of the planned measures. 

The 2019 financial year will be the first year that DB Group reports under the adoption of the new accounting reporting standard IFRS 16.

The changes to the recognition of obligations from leasing contracts will also noticeably influence the income and financial position:

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Outlook - Top employer

We expect our appeal as an employer to develop at a stable rate to a high level.

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Outlook - Eco-pioneer

In terms of reducing our greenhouse gas emissions, we have already reached a good level ...

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Outlook - Anticipated capital expenditures

We will continue our quality and capital expenditure initiative for the integrated rail system in Germany with large capital expenditures.

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Outlook - Anticipated financial position

Efficient liquidity management is once again a top priority for us in the 2019 financial year.

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Overall statement of the Management Board regarding the economic development of DB Group

Economic development in the year under review fell below expectations...

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Future direction of DB Group

In the 2019 financial year, we intend to maintain our market positions and continue to grow organically in our business units.

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Economic outlook slightly lower

Primarily, it is expected that the current developments in the global economy will continue in 2019.

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Growth of transport markets expected to continue

According to our forecast, the German passenger transport market is expected to continue to grow in 2019, while the growth in volume sold should be slightly above the level of the year under review.

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