The Deutsche Bahn is situated according to media reports, the timeliness, and the profit to be significantly below your Plan. Group chief Executive Richard Lutz, draw in a letter to his executives a grim picture of the situation.
Deutsche Bahn chief Richard Lutz has sent, according to the Reuters news Agency his colleagues on the Board, a fire letter to the executives of the group. The group was “in a difficult Situation” that has not improved in the past few months, but got worse, it says in the Letter, the Reuters on Sunday evening that was about it. “There is, unfortunately, to gloss over nothing.” The operating result also by July, “significantly below the previous year and far away from our objective”. The 2.1-billion-Euro reduced earnings target for 2018 was in danger.
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The third profit warning within a few months could not, however, be the answer to the current Situation. “It would destabilize our financial situation and confidence and Goodwill that we have with owners and the Public, in addition to damage,” writes Lutz. Previously, the “Handelsblatt” and “der Spiegel reported” about the letter. A railway spokesman said on Sunday evening: “We Express ourselves to the internal Write.”
Spending-stop is to prevent further slipping
Several of the group’s Manager, had said on Friday, the Reuters news Agency that the state of the group with a spending stop going down this slippery slope of wanting to prevent. Accordingly, orders must be of a certain sum only with a special permit in order given. The background is that, in the transport and, in particular, for years, the ailing rail freight the situation warrants. At the same time, the group intends to limit the increase in debt that could reach this year, the 20-billion-Euro limit. Internal calculations have shown that the debt in 2023 without massive against taxes would climb to a record level of 25 billion euros.
A railway spokeswoman said on Friday that already the half-year balance sheet on the economic challenges have been pointed out. “It is a normal entrepreneurial process to counteract this. Expressly but it is also clear that measures for quality and customer satisfaction will not be saved.”
ul/hb (rtr, afp)