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Chairmanʼs letter<br />
15<br />
Major events<br />
Interim Group management report<br />
Consolidated interim financial statements<br />
External revenues by region € million H 1 Change<br />
2010 2009 absolute %<br />
Germany 10,480 9,801 + 679 + 6.9<br />
Europe (excluding Germany) 3,635 2,973 + 662 + 22.3<br />
Asia /Pacific 969 678 + 291 + 42.9<br />
North America 814 679 + 135 + 19.9<br />
Rest of world 204 141 + 63 + 44.7<br />
DB Group 16,102 14,272 + 1,830 + 12.8<br />
The breakdown of revenues by region shows in particular the impact of the economic recovery as all<br />
regions posted increases in revenues. Revenues in Germany were supported by the stable developments<br />
noted in the Passenger Transport and Infrastructure divisions. However, the increase of 6.9 % was less<br />
strong than in the other regions. Significant increases were posted in the Asia /Pacific region. The share<br />
of revenues generated outside of Germany increased accordingly from 31 % in the first half of 2009 to<br />
35 % in the first half of 2010.<br />
DEVELOPMENT OF INCOME<br />
Excerpt from statement of income € million H 1 Change<br />
2010 2009 absolute %<br />
Revenues 16,102 14,272 + 1,830 + 12.8<br />
Inventory changes and internally<br />
produced and capitalized assets 1,019 847 + 172 + 20.3<br />
Other operating income 977 1,644 – 667 – 40.6<br />
Total income 18,098 16,763 + 1,335 + 8.0<br />
Cost of materials – 8,816 – 7,199 – 1,617 + 22.5<br />
Personnel expenses – 5,443 – 5,438 – 5 + 0.1<br />
Depreciation – 1,351 – 1,323 – 28 + 2.1<br />
Other operating expenses – 1,613 – 1,643 + 30 – 1.8<br />
Total expenses – 17,223 – 15,603 – 1,620 + 10.4<br />
EBIT 875 1,160 – 285 – 24.6<br />
Financial result – 506 – 396 – 110 + 27.8<br />
Profit before taxes on income 369 764 – 395 – 51.7<br />
Taxes on income 23 – 217 + 240 –<br />
Net profit 392 547 – 155 – 28.3<br />
Total income rose notably in the first half of 2010 and was driven by the favorable development of revenues.<br />
Positive effects from the economic development of the revenues were accompanied by negative<br />
effects from the decline in other operating income. These negative effects resulted from the omission<br />
of the special item in conjunction with the Stuttgart 21 project in the first half of 2010.
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