Germany: Deutsche Bahn Returns to Profit for First Time Since 2019

Deutsche Bahn returned to profit in the first half of 2026, reporting net income of EUR147 million, an improvement of EUR907 million on the prior-year period, according to the company's half-year results -- its first profitable first half since 2019.

Adjusted EBIT reached EUR415 million, up around EUR650 million year-on-year, while group revenue rose 1.8% to EUR13.6 billion. Return on capital employed stood at 1.5%. Deutsche Bahn said gross investment increased 18% to a record EUR8.7 billion in the first half of the year, and rail punctuality reached 87.5%.

Between January and June, 960 million passengers used Deutsche Bahn's regional and long-distance trains, 17 million more than in the same period a year earlier and the highest figure since the coronavirus pandemic. The group employed 217,665 full-time staff as of mid-2026.

The results follow the DB2035 strategy adopted in June 2026, under which Deutsche Bahn plans to become a smaller, more decentralised organisation focused on reliability, service quality and financial sustainability.