English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Strikes and storms prompt shake-up at Deutsche Bahn

BERLIN: Deutsche Bahn says the cost of nine strikes in 2014-2015 cost the company €500 million. Coupled with the financial impact from winter storms, first half EBIT fell to €890 – down 18.2 percent from the same period last year.

As a result, DB has revised its forecast for the full year to echo the 2014 result: €41 billion in revenue; an EBIT of €2.0 and a net profit of €1.0 billion. Net debt is expected to rise from €16.2 to €17.5 billion.

Announcing the interim results, DB chairman and CEO Rüdiger Grube said the company has embarked on a six-point restructuring program "to become leaner, faster, more efficient and even more customer focused. Leaner management and structures, and more focus on customers, will enable us to successfully tackle the rapidly changing challenges in the world of mobility and logistics," he declared.

The reorganization includes the elimination of DB Mobility Logistics AG; a reduction in the management board from eight to six people – but still no women; combining all rail operations into a single entity; and the inclusion of DB Arriva and DB Schenker Logistics in one division: Finance.

DB outlook 2015Explaining the rationale of putting logistics under the finance division Grube said: "We are keeping open the option of a partial privatization of DB Arriva und (sic) DB Schenker Logistics in order to utilize growth potential on the international markets as effectively as possible.

"Nothing has been decided here yet. And I would like to make it perfectly clear that we are not considering selling off these companies. On the contrary, we will retain business management control of both DB Arriva and DB Schenker Logistics.

"All we are considering here is a possible partial privatization and selling minority shareholdings. There is no partial privatization of the German rail transport companies planned for the foreseeable future. An IPO is not on the agenda at this time," he said.

DB Schenker reported a 3.8 percent rise in trucking volume in H1 over the same period last year. Airfreight increased 1.1 percent; contract logistics jumped 16.6 percent and ocean freight dropped 3.5 percent year-on-year. Jochen Thewes, currently head of the company's Asia/Pacific region has been given the job Schenker AG CEO and head of DB Schenker Logistics from September 01.

DB Schenker Rail, hit by strikes and storms, saw a 6.0 percent drop in metric ton-kilometers from 52.0 billion to 48.9 billion in the first half of the year. Grube said CEO Alexander Hedderich will be resigning at the end of August and leaving the DB Group. Other DB board members also departing are Gerd Becht, Dr. Heike Hanagarth, Ulrich Homburg and Dr. Karl-Friedrich Rausch. 

"The strikes demanded enormous patience from our customers, cost our employees a great deal of time and energy, and lost our company key revenues," added the DB chairman.

News

Written on 21/11/2017, 21:21
singapore-signs-smart-logistics-mou-with-south-koreaSINGAPORE: November 21, 2017. Government enterprise agency IE Singapore has signed an MoU with South Korea's Gyeonggi province to collaborate in...
Written on 17/11/2017, 21:43
decathlon-takes-to-the-railsDOURGES, France: November 16, 2017. Maersk Line and Damco, subsidiaries of A.P. Møller – Mærsk, have completed their first block train from Wuhan, China...
Written on 16/11/2017, 18:06
mia-director-resignsMIAMI: November 14, 2017. Miami-Dade County Aviation Department director and CEO Emilio González, the driving force behind much of Miami International...
Written on 14/11/2017, 20:26
truck-manufacturers-face-class-action-lawsuitLONDON: November 14, 2017. UK law firm Collyer Bristow has established a £100 million class action for truck operators that may have been overcharged by...
Written on 14/11/2017, 17:03
finland-opens-new-rail-route-to-chinaKOUVOLA, Finland. November 12, 2017. A new weekly rail service between Northern Europe and China launched on November 10 as the first train with 41...
Written on 10/11/2017, 20:10
imd-acknowledges-family-business-excellenceGRAN CANARIA, Canary Islands: November 10, 2017. Swiss business school IMD has recognized global brand management company Pentland Group with its 22nd...
Written on 08/11/2017, 22:02
how-much-carbon-risk-in-us-355-billionLONDON: November 08, 2017. The Carbon War Room (CWR), founded in 2009 by Richard Branson and others to advance the low carbon economy, is calling for the...
Written on 07/11/2017, 19:59
costa-rica-signs-biofuel-deal-with-klmAMSTERDAM: November 07, 2017. As delegates to the 2017 UN Climate Change Conference (COP 23) meet in Bonn this week, KLM and the government of Costa Rica...
Written on 06/11/2017, 02:27
qatar-airways-takes-cathay-pacific-stakeHONG KONG/DOHA: November 06, 2017. Qatar Airways is buying 9.6 percent of Cathay Pacific Airways (CX) for HK$5.16 billion (US$661 million). The shares...
Written on 03/11/2017, 15:09
slower-airfreight-growth-in-2018-says-iataGENEVA: November 01, 2017. IATA reports a 9.2 percent increase in flown freight in September 2017 compared to the same month last year as capacity rose...
Written on 01/11/2017, 19:42
heathrow-misery-must-end-say-forwardersLONDON: November 01, 2017. The head of the UK's freight forwarder association says his members "want action, not words" to resolve congestion at...
Written on 30/10/2017, 21:03
china-s-one-belt-one-road-gets-new-rail-linkBAKU, Azerbaijan: October 30, 2017. The Baku-Tbilisi-Kars (BTK) railway connecting Azerbaijan, Georgia and Turkey has opened following the completion of a...
Written on 29/10/2017, 19:47
dp-world-to-support-us-500-billion-saudi-projectRIYADH, Saudia Arabia: October 26, 2017. Speaking at the Future Investment Initiative this week, DP World chairman and CEO Sultan Ahmed Bin Sulayem...
Written on 27/10/2017, 20:40
deutsche-post-dhl-delivers-unity-symbol-ahead-of-climate-conferenceBONN: October 26, 2017. As the official logistics partner for the UN Climate Change Conference (COP23) in Bonn next month, Deutsche Post DHL has shipped a...
Written on 26/10/2017, 19:41
change-of-chairs-at-tiacaMIAMI: October 26, 2017. The Board of the International Air Cargo Association has appointed Jan de Rijk Logistics CEO Sebastiaan Scholte its new chairman...
Written on 26/10/2017, 16:06
amazon-to-launch-keyless-home-deliverySEATTLE: October 25, 2017. Amazon will launch its 'Amazon Key' home delivery service for Prime members in 37 U.S. cities on November 08 at a one-time cost...
Written on 25/10/2017, 20:52
delta-introduces-a350-capacity-as-pharma-growth-continuesATLANTA: October 25, 2017. Delta Air Lines is to launch its A350-900 aircraft on flights from Detroit to Tokyo-Narita on October 30 followed by services...
Written on 20/10/2017, 20:31
cma-cgm-members-add-intra-asia-capacitySINGAPORE: October 20, 2017. CMA CGM Group subsidiaries APL and Cheng Lie Navigation (CNC) have launched a new Korea China Straits (KCS) box service...
Written on 19/10/2017, 21:13
britain-requires-new-aviation-strategy-with-or-without-brexitLONDON: October 18, 2017. The Manchester Airports Group (MAG), owner of Manchester, London Stansted and the airfreight-focused East Midlands Airport, has...
Written on 18/10/2017, 20:06
airlines-increase-support-for-endangered-speciesDOHA: October 18, 2017. Qatar Airways has joined Airlines for America, Delta, Emirates, IATA, Kenya Airways and United in the USAID Reducing Opportunities...

- powered by Quickchilli.com -