German government approves sale of DB Schenker rail business

DB Schenker
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According to Stattimes, the German government approves, in principle, with Deutsche Bahn (DB) to sell the logistics business of rail operator DB Schenker, Reuters reported. “The supervisory board of state-owned Deutsche Bahn will approve the sale as soon as possible, possibly this year,” the report said.

Banking sources value DB Schenker at between €12 billion and €20 billion ($19.97 billion), although the valuation will be influenced by the state of the world economy and the impact of the war in Ukraine and the ongoing energy crisis. , according to the report. L

For her part, they report that Diana Schöneich takes over as CEO at GEORGI Handling Both a direct sale and an IPO are options, according to the report, adding that there was no time pressure and that a sale in 2024 was also an option. possibility. Stattimes reached out to DB Schenker for a reaction.

DB Schenker’s revenue in 2021 was €23 billion. For its part, DB Schenker had reported a 33% year-over-year increase in revenue to €23.4 billion ($23 billion) in 2021 and EBITDA up 41% to €1.8 billion ($1.8 billion). . DB Schenker had more than 76,000 employees at the end of 2021.

DB closed the first half of 2022 with adjusted earnings before interest and taxes (adjusted EBIT) of €876 million ($876 million), while revenue rose 28% to around €28 billion ($28 billion). millions of dollars).

“Our turnaround has been successful,” Richard Lutz, CEO of DB, told Stattimes. “Demand is booming and we are back to being a profitable business.” DB Schenker made the biggest contribution to DB’s current success by far. They say that DB Schenker almost doubled its operating profit compared to the first six months to around 1.2 billion euros. “The first half of 2022 was Schenker’s most successful half year in its 150-year history as a logistics company,” said Levin Holle, CFO, DB. DB expects adjusted EBIT of more than €1 billion for the year and revenue to grow to more than €54 billion, Stattimes reports.

Source: Stattimes

Source Stattimes

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