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Deutsche Bahn on track for record 2017 -sources
November 8, 2017 / 4:04 PM / 16 days ago

Deutsche Bahn on track for record 2017 -sources

BERLIN, Nov 8 (Reuters) - German rail operator Deutsche Bahn is on track for a record 2017 due to a robust global economy and rising passenger numbers, according to company documents seen by Reuters on Wednesday.

The state-owned company saw third-quarter revenue of around 10.5 billion euros ($12.2 billion), while earnings before interest and taxation came in at just below 500 million euros, putting it on track for a record turnover of above 42.5 billion euros for the full-year.

The most important drivers of turnover and profits were Deutsche Bahn’s logistics arm Schenker, which has profited from global economic growth, and long-distance high speed trains.

Supervisory board sources said Roland Bosch, a board member of the railway network, would take over as the head of Deutsche Bahn’s Cargo unit, replacing Juergen Wilder.

Barclays’ Germany head Alexander Doll is set to become the new Deutsche Bahn board member responsible for the logistics activities that include the company’s Schenker unit, the sources added.

The German government is considering selling at least a part of Schenker, Reuters reported last month.

Deutsche Bahn declined to comment. ($1 = 0.8624 euros) (Reporting by Markus Wacket; Writing by Emma Thomasson)

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