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Deutsche Bahn H1 profit up 7pc to US$1.5 billion as sales rise 1.9pc
GERMAN state-owned rail operator Deutsche Bahn posted a seven a year-on-year first half operating profit increase to EUR1.1 billion (US$1.5 billion), drawn on revenues of EUR19.73 billion, up 1.9 per cent.
Credit went to logistics unit Schenker, which competes with DHL, Kuehne + Nagel and Panalpina, which increased its road shipments in Europe 3.5 per cent with air shipments rising 2.6 per cent and sea cargo up 8.5 per cent.
Deutsche Bahn, which operates a 33,500-kilometre railway network, said long-distance passenger revenue fell EUR120 million below target, hit by disruption by last year's Hanover floods.
Deutsche Bahn CEO Ruediger Grube forecast group operating profit this year would be flat at EUR2.2 billion on revenues of EUR41 billion, up 5.1 per cent year on year.
Credit went to logistics unit Schenker, which competes with DHL, Kuehne + Nagel and Panalpina, which increased its road shipments in Europe 3.5 per cent with air shipments rising 2.6 per cent and sea cargo up 8.5 per cent.
Deutsche Bahn, which operates a 33,500-kilometre railway network, said long-distance passenger revenue fell EUR120 million below target, hit by disruption by last year's Hanover floods.
Deutsche Bahn CEO Ruediger Grube forecast group operating profit this year would be flat at EUR2.2 billion on revenues of EUR41 billion, up 5.1 per cent year on year.
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