Deutsche Bahn says Schenker deal more likely in second half
Reuters
Published Mar 21, 2024 10:12
Updated Mar 21, 2024 12:06
(Reuters) -German rail operator Deutsche Bahn (DB) expects the signing of a deal to sell its logistics unit Schenker to take place in the second half of 2024, its finance chief Levin Holle said on Thursday.
A deal before June 30 would be surprising, he said, adding that the state-owned firm does not expect to close the agreement this year. More than 20 parties were interested in buying the unit, he added.
Deutsche Bahn plans to return to profit this year after its net loss widened to 2.4 billion euros ($2.62 billion) in 2023, down from a 227 million euros loss in 2022.
The group expects revenues to increase to around 47 billion euros in 2024, and operating earnings before taxes and interest (EBIT) to be positive again at 1 billion euros from a loss of 964 million euros last year.
The main growth drivers will be redemptions for advance payments made for maintenance works in 2023, an increase in demand and cost cuts, the firm said.
Deutsche Bahn is investing heavily to repair and improve Germany's ailing railway infrastructure with an injection of about 7.6 billion euros last year, a record for the company.
($1 = 0.9175 euros)
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Written By: Reuters
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