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Weaker sterling after Brexit vote hits D.Bahn 2017 outlook
December 13, 2016 / 11:21 AM / a year ago

Weaker sterling after Brexit vote hits D.Bahn 2017 outlook

BERLIN, Dec 13 (Reuters) - German rail operator Deutsche Bahn has cut its forecast for next year’s EBIT operating profit to 2.15 billion euros ($2.28 billion) from 2.2 billion euros partly due to the effects of a weaker sterling at its British Arriva unit, company documents seen by Reuters on Tuesday showed.

The firm’s outlook was also hit by lower expectations for its freight operations in Britain, the documents showed. This year, state-owned Deutsche Bahn expects its EBIT operating profit to rise by some 100 million euros to about 1.9 billion euros.

A spokesman for Deutsche Bahn declined to comment on the figures in the documents.

Last month, Deutsche Bahn said it had frozen plans for a partial privatisation of Arriva and its Schenker unit due to the Brexit vote. ($1 = 0.9422 euros) (Reporting by Markus Wacket; Writing by Madeline Chambers; Editing by Michael Nienaber)

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