Deutsche Bahn 2010 Annual Report - Deutsche Bahn AG

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| DEUTSCHE BAHN GROUP
BUSINESS DEVELOPMENT
EUROPEAN LAND TRANSPORT
Selected key figures [ € million ] 2010 2009 Change
absolute %
Shipments in European land transport (thousand) 80,816 70,052 +10,764 +15.4
Total revenues 5,864 5,086 + 778 + 15.3
thereof external revenues 5,815 5,048 + 767 + 15.2
EBITDA adjusted 194 199 – 5 –2.5
EBIT adjusted 99 108 – 9 – 8.3
Employees (FTE as of December 31) 23,666 22,946 +720 +3.1
Total revenues recorded for our European land transport business
for the year under review amounted to € 5,864 million, or
15.3 % over the same year-ago figure. The growth in revenues
was similar to the growth noted for volume shipped. Both the
national and international land transport sectors benefited from
the strong development.
Price levels were relatively low at the start of 2010 due to
freight forwarders’ aggressive pricing policy in the previous
year. Upward price adjustments were extremely limited due to
the very intensive competitive situation. Furthermore, in some
cases the lifetime of ongoing contracts that were based on the
previous year’s lower prices continued beyond the first half of
2010. The situation improved a bit in the second half of 2010 as
rising demand made it possible to adjust prices once again in
some cases.
The favorable development of revenues was offset by burdens
caused by higher fuel prices, as well as transport costs
because of the difficulty in obtaining freight capacity during the
course of the year, which had a corresponding effect on the
development of margins.
The development of results from operations was therefore
lower than the same year-ago figure. Total adjusted EBITDA fell
by € 5 million to € 194 million while the adjusted EBIT figure
decreased by € 9 million to € 99 million.
AIR AND OCEAN FREIGHT
Selected key figures [ € million ] 2010 2009 Change
absolute %
Air freight volume (export, thousand t) 1,225 1,032 +193 +18.7
Ocean freight volume (export, thousand TEU) 1,647 1,424 +223 +15.7
Total revenues 7,135 5,051 +2,084 + 41.3
thereof external revenues 7,132 5,049 +2,083 + 41.3
EBITDA adjusted 227 120 +107 + 89.2
EBIT adjusted 186 77 +109 +142
Employees (FTE as of December 31) 21,343 21,238 +105 + 0.5
Total revenues recorded for the air and ocean freight sectors
surged by 41.3 % over the same year-ago figure during the year
under review to € 7,135 million. As global trade especially benefited
from the economic recovery, both our air and ocean
freight business participated in these strong developments.
Furthermore, our trade fair/sports and project business, as well
as our domestic American business were above the comparable
year-ago figures.
The development of results from operations significantly
improved in all segments, especially air freight, in comparison
with the previous year’s figures. In total, adjusted EBITDA rose
notably by € 107 million to € 227 million as did adjusted EBIT,
which surged by € 109 million to € 186 million.