DB ML net profit declines 89%

DB Mobility Logistics (DB ML), the logistics and mobility subsidiary of Deutsche Bahn (DB), saw net profit decline 88.9% in the first half of 2009 compared with a year before, from EUR 874mn (USD 1.25bn) to EUR 97mn, Logistics Finland informs. Ebit was down 64% to EUR 400mn. DB Schenker Logistics contributed EUR 37mn to this, but rail freight services had a EUR -127mn effect. Interest payments did decline from EUR 279mn to EUR 255mn, but this is a significantly higher proportion of ebit in the first half of 2009 than in the corresponding 2008 period. Financing burden has increased from EUR 7.7bn a year before to EUR 8.4bn, taking DB ML's contribution to Deutsche Bahn's overall debt burden to 48%. This was 39% a year earlier.
 

Source: Transportweekly