Value management DB ML Group
DB ML Group, as well as the individual business units, are managed using target returns, taking the nature and risk of the operational business into account.
Our financial management policies are designed to achieve a sustainable increase in our corporate value.
Six DB Group business units are combined under the management of DB Mobility Logistics AG (DB ML AG), and are included in the DB Group’s value management program under the management of DB AG.
The economic aspect of value management is determined by the output quantities in the balance sheet and profit/loss calculations. The adequacy of the results can only be evaluated in the context of the assets to be financed and the capital costs. The goal is to guarantee our ability to invest in the core business on an ongoing basis. In determining the target values for value management, competitors are compared to the relevant DB business units (peer group comparison).
We use the Return on Capital Employed or ROCE as the central unit of measure for the development of our group portfolio as well as for the allocation of investment.
Another performance figure for our value management is the redemption coverage. The redemption coverage illustrates the relationship between adjusted net finance debt and the operational cash flow.
As a benchmark for the capital balance, DB uses the financial measure Gearing. The proportion of net financial debt and net assets is displayed in % as a key figure for the balance sheet.
|Value management |
€ million or %
|Net financial debt/EBITDA (multiple)|
Last modified: 21.03.2013