DB Group revenue increased by 3% to around EUR 27bn. Net profit after tax remained negative at EUR -2.3bn, while the sale of DB Schenker resulted in a reported net profit of EUR 5.3bn.
Net financial debt fell by EUR 11.9bn year-on-year to approximately EUR 20.7bn as of 31 December 2025, following the use of Schenker sale proceeds to reduce liabilities. All business units except DB Cargo generated a positive operating result.
Two one-off effects shaped the 2025 result: the completed sale of DB Schenker and an impairment at DB Fernverkehr. The long-distance division recorded a write-down of around EUR 1.4bn due to lower future revenue expectations, linked in part to slower infrastructure improvements and extended general renovation programmes through 2036.
Gross investments rose to a record EUR 22bn in 2025, including EUR 19bn allocated to infrastructure. Net investments financed by DB remained stable at around EUR 5.9bn. For 2026, the federal government and DB plan to invest more than EUR 23bn in infrastructure.
DB Regio increased its operating profit to EUR 191m. DB Fernverkehr returned to positive adjusted EBIT of EUR 45m, compared with a loss of EUR 96m in 2024, while revenue and transport performance reached record levels. Passenger numbers in DB’s rail transport operations rose 3.4% to 1.93bn, and transport performance increased 2.7% to around 87bn passenger-km.
DB Cargo reported declines in volumes and revenue. Its operating result improved by EUR 350m due to restructuring measures but remained slightly negative. DB InfraGO posted a positive operating result of EUR 10m, down from EUR 267m in 2024, reflecting higher staff costs and increased depreciation linked to investment activity. Train path volumes on the network remained stable at 1.1bn train-km.
Long-distance punctuality fell to 60.1% in 2025 from 62.5% a year earlier, as high levels of construction activity affected operations. DB expects infrastructure renewal to take around ten years. For 2026, the group forecasts revenue of approximately EUR 28bn and adjusted EBIT of about EUR 600m.
