Tuesday, July 28, 2015

The railway business is lame – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
     
     
     
         
         
                                                             

The German railway has suffered a drop in profits for the first half 2015. The result after tax decreased from EUR 642 million in the same period last year to EUR 391 million, a decline of more than 39 percent. As the state-owned company announced in Berlin on Tuesday, sales from January to June increased by 1.3 percent to 20 billion euros. Operating profit fell by almost a fifth to 890 million euros. CEO Rüdiger Grube led the weak result in more storms and the train drivers’ strikes back.


                         
         
         
                                                             
                                 

The economic damage of strikes beziffere in the years 2014 and 2015 to a total of around 500 million euros, Grube said. CFO Richard Lutz said: “With the results of the first half, we can not be satisfied.” The train was however confident that we can still reach an operating profit before interest and tax of two billion euros for the full year

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The number of travelers fell in the first half of the year at the Deutsche Bahn passenger in Germany by 1.6 percent. The web-tip also led the back to the strikes and bad weather. Generally, however, the web has to struggle especially in long-distance traffic because of competition of the long distance buses and the low fuel price for cars.


                         
         
         
                                                             

Grube had submitted to the Supervisory Board on Monday a six-point plan for restructuring of the Group to respond to the difficulties in several business segments. This means that the number of Board members be reduced from eight to six. But at its headquarters, the web will also be saved in 2020 around 700 million euros by the year. The Group structure is to be streamlined.


                         
         
         
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In addition, consumer associations demanded a better service and more transparent tariffs for customers to return about by the strong competition remote bus to the station.


                                 

 
  
 
 
 
                       

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profit break

The railway business is lame

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train drivers’ strikes and long distance buses have screwed up the balance sheet of the web. In the first half of the profits slumped.

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