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Deutsche Bahn AG 2012 Management Report and Financial Our future: Sustainably successful Deutsche Bahn AG 2012 Management Report 2012 Management Statements and Financial AG 2012 Management Report Deutsche Bahn Bahn Deutsche and Financial Statements Organizational structure DB Group Deutsche Bahn Group Compliance, Privacy, Rail Technology CEO and Chairman CFO Legal Affairs and Personnel Infrastructure and Services Group Security DB Mobility Logistics sub-group Business units DB Netze Track Compliance, Privacy, DB Netze Stations CEO and Chairman CFO Legal Affairs and Personnel Group Security DB Netze Energy Transport and Rail Technology Passenger Transport Logistics and Services Group functions Business units DB Bahn Long-Distance DB Schenker Rail DB Services Service functions DB Bahn Regional DB Schenker Logistics DB Arriva D B2020 Strategy Our three dimensions Our four strategic directions ¿ Customer and quality Economic Profitable market leader æ Profitable growth † Cultural change / Social Top employer employee satisfaction ¥ Resource preservation / Environmental Eco-pioneer emissions and noise reduction Contents 2 CHAIRMAN’S LETTER 7 MANAGEMENT REPORT 66 FINANCIAL STATEMENTS 103 REPORT OF THE SUPERVISORY BOARD Deutsche Bahn AG — 2 2012 Management Report and Financial Statements Chairman’s letter 2 Chairman’s letter Dear ladies and gentlemen, For DB Group, the 2012 financial year was greatly shaped by our new strategic focus. In March, we revealed our targets for the years to come. By 2020, we want to be a profitable market leader with a focus on customer and quality. We want to be one of the top ten employers in Germany. And we want to be an eco-pioneer. The new DB2020 strategy has been enshrined throughout the Group. At a complex group such as DB Group, this requires close communication as well as many changes to processes. We have adapted our target system to fit “ In 2012, we were once the new strategic focus and are in the process of over- again able to win over more hauling our reporting processes accordingly. It was customers with our range the hard work of all our executives and employees of products and services.” that made it possible to breathe life into the DB2020 strategy so quickly. Our employees once again proved their extraordinary commitment, a high level of identification with the company and their willingness to make changes in 2012. The entire Management Board would like to thank all executives and employees for their support. We have put a great deal of energy into making our strategic targets a reality. With record revenues of € 39.3 billion – almost 4 % more than in the previous year – we have made progress toward reaching our growth target. We were also pleased to see that the increase in revenues was broadly spread out over the business units. We were able to increase our operating profit by roughly € 400 million to € 2.7 billion. Representing growth of 17.3 %, this is an excellent result, and one we are very proud of. We improved return on capital employed to 8.3 %, bringing us one step closer to our target of 10 %. In 2012, we were once again able to win over more customers with our range of products and services. We transported some 2.7 billion passengers in Germany alone – more than ever before in the history of Deutsche Bahn. This performance was fueled by an expanded range of services as well as improved service and quality. !!! Management report 7 Financial statements 66 Report of the Supervisory Board 103 3 DR. RÜDIGER GRUBE CEO and Chairman of the Management Board of Deutsche Bahn AG For instance, we expanded our international long-distance transport portfolio last year to include direct connections to Marseille and Gdansk. We made numerous technical improvements to customer information and ticketing in order to make rail travel more convenient and easier for our guests. And we made progress in modernizing our vehicles despite continued delays in the delivery of new trains. A total of 38 ICE 2 trains have now been thoroughly modernized. The first IC trains with completely new interior design have been in operation since December. Our customers clearly appreciate our commitment to improving service and quality: both passenger numbers and customer satisfaction indicators were higher in 2012 than in the previous year. !!! Deutsche Bahn AG — 4 2012 Management Report and Financial Statements Chairman’s letter 2 In regional transport, we continued to focus on growth across Europe. DB Arriva won tenders for bus transport services in the Netherlands and in Budapest, and is on the road to success throughout Europe. We once again made large-scale capital expenditures in expanding and modernizing rail infrastructure in 2012 as a foundation for future growth in rail transport. We put 29 electronic interlockings into operation in 2012 alone. In December, we opened the Kat- zenberg tunnel, the third-longest rail tunnel “ We are getting ready to make in Germany and one of the most high-tech tun- billions in capital expenditures, nels in Europe. The tunnel, located on Europe’s most important freight corridor between Rot- especially in new trains and terdam and Genoa, makes rail transport on the in modernizing infrastructure.” southern part of the Rheintal line significantly faster and reduces the level of noise pollution for nearby residents. We renovated escalators, improved passenger information systems and accessibility of platforms at 260 train stations, bringing smiles to the faces of many passengers. In freight transport, we have offered new connections to Lisbon, Porto and Paris since last year, and we have expanded services on the London–Wrocław corridor. DB Schenker Rail (UK) agreed on a strategic partnership with London Gateway. We will be the first rail freight operator to serve the new deepwater port and are driving the expansion of rail freight transport from London Gateway to Continental Europe via the Channel Tunnel. At DB Schenker Logistics, where we look back on the best financial year in the com- pany’s history, we laid the foundation in 2012 for further growth by strengthening our presence in Northern Europe and building new logistics centers throughout the world. The growth in our business units is on a solid footing. It is founded on a personnel policy that focuses on the future and decisive action on behalf of environmental conservation and climate protection. We need qualified and motivated employees to win over customers, and we need products that protect the environment. These are absolutely necessary prerequisites for sustainable business success. !!! Management report 7 Financial statements 66 Report of the Supervisory Board 103 5 The conclusion of a new type of demographic collective agreement, unique to the industry, in December 2012 was a milestone in this context. At its heart is a sustainable personnel policy that focuses more on the different life and career stages of individuals when it comes to working hours, training and other factors, making employment con- ditions more individual and more flexible. By doing so, we intend to make it possible for our employees to work at DB Group for their entire working lives. However, employment conditions are one thing. Real-life corporate culture is another. To become a top employer, we are constantly working on evolving our corporate culture. In 2012, we conducted an employee satisfac- “ To become a top employer, we tion survey among nearly all employees are constantly working on worldwide for the first time. Around the evolving our corporate culture.” world, 185,687 employees – or 61.4 % – took part in this survey. Both the high participa- tion rate and the findings show our employees’ great interest in helping shape the company they work for. We are also taking a new approach to re cruit ing employees. We are working closely with companies that are downsizing their workforces and have, for instance, also signed a partnership agreement with Germany’s Federal Employment Agency. With our large-scale campaign entitled “Kein Job wie jeder andere” (No job like any other), we have shown the public that we are an employer that offers a wide variety of employment opportunities, garnering positive feedback throughout Germany. We were able to continue increasing our number of employees in 2012. We hired some 11,000 new employees, and took on more than 4,100 new trainees and day-release students in Germany alone. This trend must continue in the years to come, and we plan on making it happen. !!! Deutsche Bahn AG — 6 2012 Management Report and Financial Statements “ With our efforts to go green in our Our environmental measures are also con- long-distance transport portfolio, tributing to our appeal as an employer. we have taken a giant leap toward With our efforts to go green in our long- distance transport portfolio, which were 100 % CO₂-free rail transport.” unveiled in November 2012, we have taken a giant leap toward 100 % CO₂-free rail transport. We now offer every long-distance transport cus­­tomer the option of climate- neutral travel, something that used to be reserved for business customers or passengers in small regional networks. Our BahnCard cus­­tomers, for instance, will automatically travel CO₂-free in the future. As a result, our long-distance transport trains will use at least 75 % renewable energy. The 2012 financial year was a game-changer for DB Group. Our positive performance gives us the leeway we need to implement our strategy consistently and with great energy. We are getting ready to make billions in capital expenditures, especially in new trains and in modernizing infrastructure. At the same time, we have to continue reducing our debt and raising our profitability. This is the only way we can secure our excellent rating, which we need to continue being able to finance the necessary capital expenditures in our customers’ interest in the future.
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