By Markus Wacket BERLIN (Reuters) -German rail operator Deutsche Bahn posted a net loss of almost 1.8 billion euros ($1.95 billion) last year following the sale of its profitable logistics unit
Deutsche Bahn Reports €1.8 Billion Loss for 2024
By Markus Wacket
BERLIN (Reuters) -German rail operator Deutsche Bahn posted a net loss of almost 1.8 billion euros ($1.95 billion) last year following the sale of its profitable logistics unit Schenker, according to excerpts of company results seen by Reuters on Friday.
The state-owned company was however able to improve its net result by almost 1 billion euros compared with the previous year, as it battles against ageing infrastructure in a bid to make the German rail network profitable again by 2027.
Deutsche Bahn's operating loss, before interest and taxes at the debt-ridden company, was around 330 million euros in 2024, according to the figures.
A company spokesperson declined to comment on the figures ahead of the scheduled presentation of results on March 27.
As one of Deutsche Bahn's few profitable units, Schenker, which is no longer included in the 2024 results, long served as Deutsche Bahn's saving grace.
Seeking to reduce its debt levels and focus more on its core railway business, Deutsche Bahn sold the business in September to Denmark's DSV for 14 billion euros.
Germany's ageing railways are a problem for Deutsche Bahn, but the company hopes to profit from a half-trillion-euro special fund sought by the nation's prospective new government to finance much-needed investment in infrastructure.
Deutsche Bahn's long-distance rail business had to pay out 200 million euros in compensation alone last year to customers whose trains were delayed, dragging the unit into the red with a loss of around 100 million euros.
Its cargo and regional businesses, by contrast, turned a profit last year.
($1 = 0.9214 euros)
(Reporting by Markus Wacket, writing by Rachel More, editing by Thomas Seythal, Miranda Murray and Joe Bavier)
