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Jungfraubahn Holding AG: 30.9 million profit for Jungfrau Railway Group Mittwoch, 19. April 2017 - 08:01
Jungfraubahn Holding AG / Key word(s): Final Results
Jungfraubahn Holding AG: 30.9 million profit for Jungfrau Railway Group
19-Apr-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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30.9 million profit for Jungfrau Railway Group
The Jungfrau Railway Group recorded a profit of 30.9 million francs in 2016,
thus achieving the second best result in its history. At today's financial
press conference in Berne, statements will be made on the preceding
financial year.
In a challenging financial year, the Jungfrau Railway Group achieved an
operating income in 2016 of 169 million francs. Despite a decline of minus
3.7 per cent as compared with the record performance of the previous year,
it registered the second highest turnover in its history.
Jungfraujoch - Top of Europe
Although the environment was challenging, the second best result in the
history of the Jungfrau Railway was achieved, both in terms of visitor
numbers and transport income. The terrorist attacks in Europe, unrest in
Turkey and the refugee situation had a noticeable impact on the number of
visitors, especially group tours from Asia. Nevertheless, a total of 916,500
visitors travelled to the Top of Europe in 2016. Transport income for the
Jungfraujoch segment declined by 7.6 per cent, at CHF 100.3 million,
compared with the record performance of the previous year. In spite of this,
the 100 million mark was surpassed for the second time ever. A profit of 1.7
per cent was achieved for the average yield.
Mountain Experience
In the case of the Mountain Experience, which includes excursion transport
to Harder Kulm, First and Winteregg-Mürren, the Jungfrau Railway Group
registered consistently positive results. With an increase of 16.8 per cent
in total, transport income could once again be significantly increased.
Overall, at 13.3 million francs, a transport income of nearly two million
more than in the previous year was generated for the Mountain Experience.
The average income was increased both for Firstbahn, at 10.6 per cent, and
Harderbahn, at 10.1 per cent.
Winter Sports
The result dropped below average for the Winter Sports segment. Transport
income declined by 10.9 per cent to 19.6 million francs. This corresponds to
a loss of CHF 2.4 million compared with 2015. Despite favourable slope
conditions, a decrease in visitor numbers was recorded, for both day and
holiday guests. Thanks to the early onset of winter, the Jungfrau Railways
was able to start the 2016/2017 winter sports season by the middle of
November 2016. Efficient snow machines allowed a consistent offer and good
slope conditions in the Kleine Scheidegg Ski Region, despite the continuous
high-pressure weather in December.
Segment information
CHF (thousands) 2016 2015 Change in %
Segment sales
Net sales Jungfraujoch 110,855 117,569 -5.7%
Net sales Mountain Experience 18,431 15,580 18.3%
Net sales Winter Sports 24,187 26,808 -9.8%
Net sales Other segments* 42,130 41,228 2.2%
Elimination group-internal sales -26,573 -25,697 3.4%
Total operating income 169,030 175,488 -3.7%
*Other segments include, in particular, the Jungfraubahn power station,
Jungfraubahnen Management AG and the Lauterbrunnen car park.
Investments
The Jungfrau Railway Group invested 50 million francs in the reporting year.
The majority of this was used for the procurement of new rolling stock for
the Jungfrau Railway as part of the V-Cableway project. By the end of 2016,
over 100 million francs were spent on the V-Cableway project since the start
of planning, in which the Jungfrau Railway Group wants to invest a total of
300 million francs. It was recently possible to include already pending and
important concerns in the V-Cableway project from the area of railway
operational safety as well as the adjustment of existing facilities to the
requirements of the Austrian Equal Treatment Act. This explains the greater
part of the increase in the overall project costs by nearly 20% as compared
with the previous year's reporting.
Key data to the Group result
CHF (thousands) 2016 2015 Change in %
Operating income 169,030 175,488 -3.7%
Transportation income 125,984 133,969 -6.0%
EBIT 36,332 47,000 -22.7%
Annual profit 30,902 36,211 -14.7%
Free cash flow 18,111 5,443 232.7%
Headcount (full-time positions) 536 525 2.1%
2016 2015 Change in %
Dividend 2.10 (Proposal) 2.00 5.0%
The Jungfraubahn Holding AG Annual Report was created for the first time as
an online annual report for the reporting year 2016. This has been published
under the following link: www.jungfrau.ch/business-report. Proposals for the
GM can be found under the link www.jungfrau.ch/general-meeting.
Outlook
The 2017 financial year began well in the Jungfraujoch segment. From 1
January to 15 April 2017 161,153 guests visited the Top of Europe, meaning
that the former record year of 2015 was surpassed. Compared with the same
period in the previous year, an increase of 33,121 guests, respectively 25.9
per cent could be recorded.
The Winter Sports business continued to decline from the start of the season
in December 2016 to 17 April 2017. Shortly before the end of the season,
there were 868,968 skiing visitors for the entire Jungfrau Ski Region as of
17 April 2017, 8.1% fewer than in the 2015/2016 Winter Sports season.
The Jungfrau Railway Group's main strategic project is still the V-Cableway,
which will strengthen the competitiveness of Jungfraujoch as a world famous
hotspot, as well as the Jungfrau Ski Region. The aim - if everything runs
smoothly - is to open the "Eiger Express" tricable gondola by the end of
2019. In the medium term, the Jungfrau Railway Group is following the
strategy of developing in the direction of an integrated leisure and service
company. In the Jungfraujoch - Top of Europe business segment, the catering
will be gradually integrated by the end of 2019 with the independent
restaurant companies on Kleine Scheidegg and Jungfraujoch. This constitutes
a central component in the value chain of tourist excursions.
The Jungfrau Railway Group General Meeting will take place in Interlaken on
22 May 2017. The management board proposes an increase in the dividend from
2.00 to 2.10 francs.
Link to the 2016 Annual Report and information on the 2016 financial year:
- www.jungfrau.ch/business-report
- www.jungfrau.ch/en/downloads
For questions:
Urs Kessler, Chairman of Executive Board, +41 (0)79 407 90 52
Patrizia Bickel, Head of Corporate Communications, +41 (0)79 222 53 10
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End of ad hoc announcement
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