What DSW21 does

Dortmunder Stadtwerke AG (DSW21) is the 100% municipally owned parent company of the 21-Konzern, a diversified municipal utility group headquartered in Dortmund, Germany. It provides Daseinsvorsorge (essential public services) to more than 600,000 citizens of the Westfalen metropolis through a portfolio of wholly owned and partially owned operating subsidiaries spanning public transit, energy and water supply, telecommunications, housing, airport operations, port logistics, and urban development.

The core operating asset is public transportation (ÖPNV): 8 Stadtbahn lines served by more than 130 light-rail vehicles, nearly 200 buses on almost 80 routes, and the H-Bahn hanging cable car on the university campus, together carrying approximately 120 million passengers in 2025. Underlying technology consists of conventional urban mobility infrastructure (rail and bus fleets), energy and water distribution grids operated through DEW21, telecommunications fiber and data center infrastructure operated through DOKOM21, ~16,500 rental apartments managed by DOGEWO21, Dortmund Airport (3.3 million+ passengers in 2025), and trimodal cargo handling at Dortmunder Hafen AG (Europe's largest canal port). The group has roughly 2,300 employees at DSW21 AG and ~4,400 across the 21-Konzern.

Revenue is generated primarily through regulated, tariff-based, recurring utility and transit charges across multiple service lines, supplemented by transaction-based revenue at the airport and port and project-based revenue from urban development via d-Port21 Entwicklungsgesellschaft. The 21-Konzern reported Umsatzerlöse of ~€1.4 billion in 2025 against a ~€4.0 billion consolidated balance sheet, with a Konzern-level Jahresüberschuss of €11.8 million and DSW21 AG Jahresergebnis nach Steuern of €27.8 million. The go-to-market motion is a sales-led public mandate: DSW21 serves citizens directly through owned infrastructure, with no resellers, and operates under a board led by Vorstandsvorsitzender Jörg Jacoby (Strategy & Finance), Verkehrsvorstand Ulrich Jaeger, and Arbeitsdirektor Harald Kraus (HR & Digital).

Name

DSW21

Legal name

Dortmunder Stadtwerke AG

Website

https://www.einundzwanzig.de/

Company type

Public

Founded year

1857

Operating status

Operating

Headcount range

51–100 employees

Short description

DSW21 is the 100% City of Dortmund-owned municipal utility (21-Konzern) delivering public transit, energy, water, telecom, housing, airport, and port services to Dortmund's 600,000+ citizens through regulated tariff-based operations.

Ownership category

akta.pro rank

Product category

Municipal Utility Services

NAICS

Port and Harbor Operations (48831), General Warehousing and Storage (493110), Support Activities for Transportation (488), Facilities Support Services (5612), Facilities Support Services (561210), Administrative and Support Services (561)

SIC

Electric & Other Services Combined (4931), Refuse Systems (4953), Public Warehousing & Storage (4220), Services-To Dwellings & Other Buildings (7340), Non-Operating Establishments (9995)

akta.pro primary industry

Municipal Contract Collection & Franchise Operations (BPALAAAH)

akta.pro secondary industries

Municipal Solid Waste Collection (Residential/Commercial) (IMAIAFAA), Municipal Franchise / Contracted MSW Hauling (Public Sector) (EUAIAAAE), Commercial & Institutional MSW Collection (BPALAAAB)

Keywords

• Public transportation services
• Municipal energy supply
• Urban utility services
• Municipal housing services
• Telecommunications infrastructure

Headquarters

HQ city

Dortmund

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Others

Revenue model

1. Telecommunications (DOKOM21): Through subsidiary DOKOM21: telecommunications, fiber expansion, mobile services, data networks, and data centers.
2. Housing (DOGEWO21): Through subsidiary DOGEWO21: rental housing with approximately 16,500 apartments.
3. Public Transportation (ÖPNV): Revenue from public passenger transport services including Stadtbahn, bus lines, and H-Bahn university shuttle. In 2025, DSW21 transported approximately 120 million passengers.
4. Energy Supply (DEW21): Through subsidiary DEW21 – Dortmunder Energie- und Wasserversorgung GmbH: energy, water, heat, and network services to residential and commercial customers in Dortmund.
5. Airport Operations (Dortmund Airport): Through subsidiary: airport operations serving more than 3.3 million air passengers in 2025.
6. Port and Logistics (Dortmunder Hafen AG): Through subsidiary: trimodal cargo handling and logistics at Europe's largest canal port.
7. Urban Development: Through d-Port21 and other entities: development of urban living spaces and new districts (e.g., Phoenix-See, Stadtkrone-Ost, Hohenbuschei, Deggingshöfe).

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Dortmunder Stadtwerke AG (DSW21) is a municipally-owned multi-utility company providing essential public services (Daseinsvorsorge) to more than 600,000 citizens of Dortmund. Its core offerings include public transportation via Stadtbahn (8 lines, 130 vehicles), buses (~80 lines, ~200 vehicles), and the H-Bahn university shuttle, plus energy and water supply (DEW21), telecommunications and data services (DOKOM21), rental housing (~16,500 apartments via DOGEWO21), airport operations, and trimodal port logistics. The Konzern also develops urban living spaces through d-Port21 and holds a strategic stake of ~25 million shares in RWE AG.

Product overview

DSW21 is a municipal utility company operating as a multi-service conglomerate providing essential public services. The core business is public transport (ÖPNV) with trams, buses, and the H-Bahn university cable car. The company also operates through subsidiaries covering energy/water supply (DEW21), telecommunications (DOKOM21), housing (DOGEWO21), airport services, port/logistics operations (Dortmunder Hafen AG), and service/security functions (DOS21). The group also develops urban spaces and new neighborhoods through d-Port21.

Differentiator

Problem solved

Functional benefit

Brands

• APP21: Mobile application for DSW21 services with associated terms and conditions and privacy documentation

Products and services

• Public Transportation (ÖPNV) Public passenger transport services operated directly by DSW21, comprising the Stadtbahn light rail (8 lines, 130 vehicles), bus network (~80 lines, ~200 buses), and the H-Bahn hanging cable car shuttle on the university campus. Served approximately 120 million passengers in 2025.
• DEW21 Energy and Water Supply Energy, water, heating, and grid network services delivered through the wholly-owned subsidiary DEW21 – Dortmunder Energie- und Wasserversorgung GmbH to residential and commercial customers across Dortmund.
• DOKOM21 Telecommunications Telecommunications, fiber-optic expansion, mobile services, data networks, and data center services provided through the wholly-owned subsidiary DOKOM21 Gesellschaft für Telekommunikation GmbH.
• DOGEWO21 Rental Housing Rental housing portfolio of approximately 16,500 apartments operated through the wholly-owned subsidiary DOGEWO21 – Dortmunder Gesellschaft für Wohnen mbH, providing affordable housing in Dortmund.
• Dortmund Airport Passenger and cargo airport operations through the Dortmund Airport subsidiary, serving more than 3.3 million air passengers in 2025.
• Dortmunder Hafen AG Port and Logistics Trimodal cargo handling (road, rail, water) and logistics services operated through Dortmunder Hafen AG at Europe's largest canal port.
• DOS21 Service and Security Service and security services provided through DOS21 - Dortmunder Stadtwerke Servicegesellschaft mbH, primarily for the City of Dortmund.
• d-Port21 Urban Development Urban development and neighborhood creation through d-Port21 Entwicklungsgesellschaft mbH, including the northern Speicherstraße at the harbor and the planned Deggingshöfe residential area in eastern downtown Dortmund.

Named customers2 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• DEW21 – Dortmunder Energie- und Wasserversorgung GmbHcoreStrategic or Co-development PartnerSubsidiary of the 21-Konzern providing energy, water, heat, and network services to Dortmund. Part of DSW21's integrated essential services portfolio.
• DOKOM21 Gesellschaft für Telekommunikation GmbHcoreStrategic or Co-development PartnerSubsidiary of the 21-Konzern providing telecommunications, fiber expansion, mobile services, data networks, and data centers.
• DOGEWO21 – Dortmunder Gesellschaft für Wohnen mbHcoreStrategic or Co-development PartnerSubsidiary of the 21-Konzern managing approximately 16,500 rental apartments in Dortmund, providing affordable housing.
• Dortmund AirportcoreStrategic or Co-development PartnerSubsidiary/component of the 21-Konzern, serving more than 3.3 million air passengers in 2025.
• Dortmunder Hafen AGcoreStrategic or Co-development PartnerSubsidiary providing trimodal cargo handling and logistics at Europe's largest canal port.
• DOS21 - Dortmunder Stadtwerke Servicegesellschaft mbHcoreStrategic or Co-development PartnerSubsidiary providing service and security services primarily for the City of Dortmund.
• d-Port21 Entwicklungsgesellschaft mbHminorStrategic or Co-development PartnerDevelopment company for urban development projects including the northern Speicherstraße at the port and planned Deggingshöfe residential area in eastern city center.
• RWE AGcoreStrategic or Co-development PartnerDSW21 is the largest municipal shareholder in RWE AG with approximately 25 million shares. Strategic investment holding providing exposure to the energy sector.
• Wasser und Gas Westfalen GmbH (WGW)coreStrategic or Co-development PartnerJoint venture (50/50) with Stadtwerke Bochum; holds 92.9% of shares in Gelsenwasser AG. Provides water and gas services through Westfalen region.
• Gelsenwasser AGcoreStrategic or Co-development PartnerWater utility company with 92.9% of shares bundled through WGW joint venture between DSW21 and Stadtwerke Bochum.
• EDG Holding GmbH (Entsorgung)minorStrategic or Co-development PartnerWaste management holding with DSW21 holding 49% stake.
• Stadtwerke SchwerteminorStrategic or Co-development PartnerMunicipal utility in Schwerte; DSW21 holds direct or indirect participation.
• Stadtwerke WerlminorStrategic or Co-development PartnerMunicipal utility in Werl; DSW21 holds direct or indirect participation.
• Windpark BeteiligungenminorStrategic or Co-development PartnerDSW21 holds participations in various wind farms across the region as part of renewable energy strategy.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Stadtwerke München (SWM): Munich's municipally-owned multi-utility providing transit (MVG), energy (Strom, Erdgas, Fernwärme), water, and telecommunications (M-net). Closest structural analog to DSW21 in scale, ownership model, and integrated service portfolio.
• Mainova AG: Frankfurt's municipal energy and water utility, majority-owned by the City of Frankfurt. Comparable in operating as a Stadtwerke with regulated tariffs, energy/water distribution, and municipal shareholder structure.
• Stadtwerke Köln: Cologne's municipal utility providing energy, water, and public transit (via KVB) to a comparable-sized Rhine-Ruhr city. Directly comparable city-scale multi-utility.
• Stadtwerke Düsseldorf: Düsseldorf's municipal multi-utility operating energy, water, and transit services. Similar West German city utility profile with comparable revenue mix and ownership structure.
• Stadtwerke Leipzig: Leipzig's municipal utility providing energy, water, heating, transit, and broadband (HL komm). Comparable multi-service municipal utility model with similar subsidiary architecture.
• Stadtwerke Bochum: Bochum's municipal utility and DSW21's joint venture partner in WGW (50/50), which holds 92.9% of Gelsenwasser AG. Directly comparable in scale and service mix.
• Versorgungs- und Verkehrsgesellschaft Hannover (üstra): Hannover's combined municipal utility and transit operator. Comparable integrated model of energy/water (enercity) and Stadtbahn/bus operations under a single municipal holding.
• Stadtwerke Essen: Essen's municipal utility providing energy, water, and transit in a neighboring Ruhr city. Highly comparable in regional context, customer base demographics, and service portfolio.

Others

• RWE AG: Germany's second-largest energy utility in which DSW21 holds ~25M shares (largest municipal shareholder). Comparable in energy generation, renewables, and grid operations; relevant for joint venture and dividend exposure.

Broad incumbents

• E.ON SE: Germany's largest energy network operator and retail supplier. Overlaps with DSW21's DEW21 subsidiary in energy distribution, retail supply, and network services, but operates at national scale across multiple geographies.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DSW21