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Deutsche Bahn posts US$1.4 billion net loss as revenues rise 1.9pc
GERMANY's state-owned railway Deutsche Bahn posted a net loss of EUR1.3 billion (US$1.45 billion) in fiscal year 2015, drawn on revenues of EUR40.5 billion, up 1.9 per cent year on year.
"We need to make far-reaching improvements, and that is why we launched a group restructuring process," said Deutsche Bahn CEO Rudiger Grube said.
Deutsche Bahn's adjusted earnings before interest and tax (EBIT) fell 16.6 per cent year on year to EUR1.76 billion, a fall attributed to write-downs in rail freight support and non-recurring items due to restructurings.
The freight and logistics operation experienced a 4.3 per cent year-on-year decline in freight volumes to 98.4 billion tonne kilometres, reported American Shipper.
DB Schenker saw land transport consignments rise 2.9 per cent and air freight volumes go up 1.4 per cent year on year while ocean freight dropped 2.1 per cent.
Last week, DB Schenker and Amsterdam-based GLS Group announced an agreement to jointly provide parcel delivery services for businesses and e-commerce customers throughout Germany.
GLS will deliver national parcels in Germany for DB Schenker and will handle international consignments, and the transport of palletised loads for GLS.
DB Schenker is also eliminating 151 jobs in Groveport, Ohio, but affected workers are expected to have jobs with a new employer, reports Columbus Business First.
On May 1, DB Schenker plans to close its warehouse in Groveport, which is currently leased by Kraft Heinz Co, while a new logistics provider is expected to take over for the food company.
Meanwhile, Deutsche Bahn's DB International, an engineering and consulting firm that designs and carries out infrastructure and mobility projects throughout the world, generated EUR200 million in revenue in 2015, up 20 per cent year on year.
"Our order book is an important indicator of our success," DB International chairman Niko Warbanoff said.
"We have seen substantial growth in the last five years, with orders up 70 per cent. Combined, our current orders are worth EUR210 million," he said.
DB International and its partners will shortly commence building Canberra's first light rail, with DB International providing consulting services throughout its first 20 years.
"We need to make far-reaching improvements, and that is why we launched a group restructuring process," said Deutsche Bahn CEO Rudiger Grube said.
Deutsche Bahn's adjusted earnings before interest and tax (EBIT) fell 16.6 per cent year on year to EUR1.76 billion, a fall attributed to write-downs in rail freight support and non-recurring items due to restructurings.
The freight and logistics operation experienced a 4.3 per cent year-on-year decline in freight volumes to 98.4 billion tonne kilometres, reported American Shipper.
DB Schenker saw land transport consignments rise 2.9 per cent and air freight volumes go up 1.4 per cent year on year while ocean freight dropped 2.1 per cent.
Last week, DB Schenker and Amsterdam-based GLS Group announced an agreement to jointly provide parcel delivery services for businesses and e-commerce customers throughout Germany.
GLS will deliver national parcels in Germany for DB Schenker and will handle international consignments, and the transport of palletised loads for GLS.
DB Schenker is also eliminating 151 jobs in Groveport, Ohio, but affected workers are expected to have jobs with a new employer, reports Columbus Business First.
On May 1, DB Schenker plans to close its warehouse in Groveport, which is currently leased by Kraft Heinz Co, while a new logistics provider is expected to take over for the food company.
Meanwhile, Deutsche Bahn's DB International, an engineering and consulting firm that designs and carries out infrastructure and mobility projects throughout the world, generated EUR200 million in revenue in 2015, up 20 per cent year on year.
"Our order book is an important indicator of our success," DB International chairman Niko Warbanoff said.
"We have seen substantial growth in the last five years, with orders up 70 per cent. Combined, our current orders are worth EUR210 million," he said.
DB International and its partners will shortly commence building Canberra's first light rail, with DB International providing consulting services throughout its first 20 years.
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