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Deutsche Bahn set for record year

Deutsche Bahn set for record year

   German rail and logistics giant Deutsche Bahn, parent company of Schenker and BAX Global, reported operating income of 1.5 billion euros ($1.9 billion) after nine months, already ahead of the full 2005 result.

   Revenue for the nine month period was up 19 percent to 22 billion ($28 billion). On a comparable basis — without including the results of BAX Global, acquired in February for $1.1 billion from U.S. security firm The Brink’s Co. — Deutsche Bahn’s revenue was up 7.9 percent.

   “Significant growth in passenger and freight transport — as well as in international logistics — made a decisive contribution to the higher revenues,” Deutsche Bahn said.

   “With this consistently positive development, we will be continuing our success story in the 2006 financial year. It will be the best year in the history of Deutsche Bahn,” said Hartmut Mehdorn, Deutsche Bahn’s chief executive officer and chairman of the management board.