BERLIN, March 16 German rail operator Deutsche
Bahn swung to a net profit last year thanks to cost
savings, according to company documents seen by Reuters on
The state-owned company posted a net profit of 716 million
euros ($768 million) for 2016 after writedowns on its rail
freight business and restructuring costs led to a 1.3 billion
euro loss a year earlier, the documents showed.
Adjusted operating profit rose 11 percent to 1.95 billion
euros last year, and revenues inched up 0.3 percent to 40.6
Deutsche Bahn declined to comment on the information, and
referred to a news conference due to take place next Thursday.
In January, Deutsche Bahn Chief Executive unexpectedly
resigned after eight year in charge. The company has around 20
billion euros of debt and last year received a 1 billion euro
injection of taxpayers' money.
($1 = 0.9328 euros)
(Reporting by Markus Wacket; Writing by Madeline Chambers;
Editing by Mark Potter)