Germany's Deutsche Bahn, Europe's biggest rail operator, posted double digit revenue and earnings growth in 2010 as its freight and global logistics units recovered strongly from the deep economic slump in 2009.
Revenue rose 17.3 percent, or $7.3 billion, to $49.2 billion, and earnings before interest and tax were 10.7 percent higher at $2.7 billion.
DB said it achieved "substantially" higher volumes in all of its relevant markets in 2010.
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"This was especially visible in … rail freight transport and … global transport activities, which had posted significant declines in some areas in the previous year. … All of our business divisions are back in the black," said Deutsche Bahn Chief Financial Officer Richard Lutz.
"Even though our profits have not yet reached their pre-crisis level, we can see that the upwards trend is sustained and that we're on the right track," Lutz said.
The DB Schenker rail unit boosted the volume of goods shipped 21.8 percent to 414.4 million tons and increased revenue 13 percent.
DB Schenker Logistics posted higher volumes in all its business segments and geographical regions. Revenues and profits were "substantially" higher, driven mainly by strong economic growth in Germany and the Asian markets.
Land transport volume rose 15.4 percent from 2009, air cargo grew 18.7 percent and ocean container traffic increased 15.7 percent. The contract logistics business grew 13.7 percent from a year ago.
Logistics revenue increased 26.7 percent, Deutsche Bahn said without giving a dollar amount.
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