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Indiaexportnews.com

DB doubled its profits

  17.03.2009    

According to Reuters, German national railway operator Deutsche Bahn (DB) doubled its profits from passenger traffic in fast IC and high-speed ICE trains in 2008. 
Business in the long-distance passenger traffic as well as short distance travel had come in better than expected last year despite the economic crisis, the sources said, without providing concrete figures. Freight business had come in weaker than previously seen.
A spokesman for Deutsche Bahn declined to comment, saying Bahn results were due on March 30.
In a recent newspaper interview, the company's CEO Hartmut Mehdorn said that he expected revenues of EUR 35 billion for the entire company in 2008. DB posted revenues of EUR 31.1 billion a year before.
The German government had originally planned for Deutsche Bahn to be partially privatised last year but cancelled the initial public offering (IPO) due to market conditions.
On Saturday, Transport Minister Wolfgang Tiefensee cast further doubt on the prospect of privatising the train operator, saying he did not think the IPO should go ahead in the next legislative period either.



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