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2010 Annual Report > Group management report > Outlook

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Source: Investor Relations (DB)

Future direction of DB Group

We want to assert our market positions in the 2011 financial year and continue our business units’ organic growth.

Anticipated development in the relevant markets

It is anticipated that the German passenger transport market will be favorably influenced in 2011.

Anticipated development of important business conditions

On September 17, 2010 the European Commission opened legislative proceedings to recast the first European railway package. It is anticipated that the proceedings will be concluded in 2011.

Anticipated financial situation

The focus of our capital expenditures in the 2011 financial year will again be on rail infrastructure in the DB Netze Track business unit.

Opportunities report

Our opportunity management efforts are mainly driven by our business units’ targets and strategies.

Economic outlook

The following estimates regarding economic development in 2011 are based on the assumption of stable overall geopolitical development.

Anticipated development of the procurement and capital markets

We do not anticipate that we will encounter any major bottlenecks on the procurement side during the 2011 financial year. The further development of energy prices will play a decisive role. In general, we anticipate that energy and commodity prices will rise.

Anticipated income situation

Based on current estimates we anticipate that revenues will continue to increase in the 2011 financial year following the strong development noted in the year under review.

Anticipated development in the 2012 financial year

In accordance with Rule 15 of the German Accounting Standards (Deutscher Rechnungslegungsstandard; DRS) we will also state our estimate for the year following the current financial year.

Overall statement regarding the economic development of DB Group

After the strong recovery of the global economy during the year under review, the DB AG Management Board believes that the economic recovery will continue at a slower pace in 2011.