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2011 Interim Report > Interim Group mgmt report
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++ Transport and logistics markets continue to recover ++ Additional notable gains posted for revenues and profit ++ Slightly improved outlook for 2011 financial year ++
++ Strong increase by about 17% in revenues to € 18.9 billion (7% on a comparable basis) ++ Adjusted EBIT has improved to € 1.1 billion ++ Noticeable effects due to integration of Arriva ++
++ Ratings confirmed ++ Slight increase in net financial debt ++ Further increase in gross capital expenditures ++
++ Customer and Quality initiative continued ++ Procurement projects for rail vehicles optimized ++ 2011 Rail Liberalisation Index confirms Germany’s leading role ++
++ Introduction of a noise-based train-path pricing system ++ Approval sought for ICE trains in the Channel Tunnel ++ Stress test confirms the effectiveness of the Stuttgart 21 project ++
This management report contains statements and forecasts pertaining to the future development of DB Group, its business units and individual companies.
++ Economic environment remains favorable ++ Modest development noted in rail passenger transport ++Rail freight and land transport post strong growth++
++ Expansion of the long-distance vehicle fleet ++ Business in transport and logistics benefiting from strong economic recovery ++ Infrastructure business units with much stronger non-Group demand ++
++ Number of employees increases slightly ++ Round of wage negotiations concluded with EVG and GDL ++ Sector-wide wage agreement in local rail passenger transport sector takes effect ++
++ Risk position unchanged from 2010 financial year ++ Quantitative assessment of risks reduced ++ Risk portfolio free of existence-threatening risks ++
++ Further economic recovery expected, but at a slower pace ++ Revenue and profit increases confirmed for the 2011 financial year ++ Outlook remains uncertain, especially because of the sovereign debt crisis ++
