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Jungfraubahn Holding AG: The Jungfrau Railway Group achieved a half-year profit of CHF 17 million Donnerstag, 07. September 2017 - 08:01
Jungfraubahn Holding AG / Key word(s): Half Year Results
Jungfraubahn Holding AG: The Jungfrau Railway Group achieved a half-year
profit of CHF 17 million
07-Sep-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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The Jungfrau Railway Group achieved a half-year profit of 17 million Swiss
francs
The Jungfrau Railway Group can look back on a strong first six months of
2017. Major demand from Asia had a positive effect on the business results.
The operating income was up 17.1% on the previous year to CHF 92.2 million.
In the first half-year period, 464,600 visitors travelled to the
Jungfraujoch. This is 23.5% more than during the same period the previous
year and is the best ever result.
Excursions to the Jungfraujoch - Top of Europe continued to benefit from the
diversification of the markets as well as the significantly stronger demand
from Asia compared with the previous year. In terms of visitor frequency and
net transport revenues, this was the best result in the history of Jungfrau
Railway. In the first half of 2017, a total of 464,600 guests travelled to
the Jungfraujoch, an increase of 88,500 on 2016. At the same time, the
frequency numbers from the previous record year 2015 were exceeded by 40,000
visitors. At CHF 47.4 million, the net transport income of the Jungfraujoch
segment rose by 21.6% on the same period in the previous year. It paid off
that the company intensified its work on the Asian markets and continued to
strengthen the Jungfraujoch - Top of Europe brand.
The Jungfrau Railway Group experienced a remarkable increase in the number
of visitors. For instance, First Railway registered an increase of 12.4%. In
total, the net transport revenues of the 'Mountain Experience' amounted to
CHF 5.8 million, an increase of 33.8% on the previous year. The improved
attractiveness, clear positioning and stable weather in June contributed to
the very good result for the 'Mountain Experience'. The earlier start to the
summer season by expanding the seasons has paid off.
In the Winter Sports segment, despite an early start in November 2016, the
result was below average for the 2016/2017 season. For the reporting period
from 1 January 2017 until the end of the season in April 2017, the JUNGFRAU
Ski Region, where the Jungfrau Railway Group holds a turnover share of more
than 60%, registered 779,500 ski visits, a fall of 2.7% on the same period
the previous year. For the Jungfrau Railway Group, net transport revenue
from its winter sports business amounted to CHF 15.7 million.
In the first half of 2017, the Jungfrau Railway Group generated a profit of
CHF 17 million, which is its best half-year result to date. This is an
increase of 60 per cent on the same period last year.
VISITOR FREQUENCIES 2017 in CHF 2016 in CHF Change
1/1-30/6 (thousands) (thousands) in %
Jungfraujoch (Top of) 464,600 376,100 23.5%
Jungfrau Ski Region 779,500 801,000 -2.7%
skier visits
NET TRANSPORT REVENUES
Jungfraujoch - Top of 47,444 39,029 21.6%
Europe
Mountain Experience 5,817 4,349 33.8%
Winter Sports 15,653 15,624 0.2%
Total transport revenue 68,914 59,002 16.8%
The company generated an operating result (EBIT) of CHF 21.2 million and
achieved an EBIT margin of 22.9 per cent.
The good result is mainly due to the increase in group business. The
increase in earnings at the Top of Europe Shops also had a positive impact
on the result. This confirms the newly defined strategy of the Jungfrau
Railway Group to develop in the direction of an integrated leisure and
service company.
Increase in quality and productivity
The Jungfrau Railway Group's investments in quality paid off in the first
half of 2017. With the single seat reservation as well as the timetable
extension, standing places were eliminated despite increasing visitor
traffic and guest satisfaction further increased. By using new rolling
stock, the round trip time to the Top of Europe has been shortened by half
an hour following a timetable change in December 2016, and productivity has
increased.
V-Cableway expansion project
The strategic main project of the Jungfrau Railway Group is still the
V-Cableway, in which the group plans to invest CHF 300 million. The aim is
to strengthen the competitiveness of the Jungfraujoch as a world-famous
lighthouse as well as the Jungfrau Ski region. Due to rulings by the
judiciary, municipality and church board as well as the few remaining
objections, the procedure has been protracted. The contractor commissioned a
cableway technical expert to examine a required alternative routing. The
existing lines were confirmed as the most ecological and economical variant.
By reducing the column heights of masts 6 & 7, however, it was possible to
optimise them further. A comprehensive dossier was also submitted to UNESCO.
The Jungfrau Railway Group is hoping for a timely resolution to the
objections in order to receive the overall planning permission in the spring
of 2018 and to open the "Eiger Express" tricable gondola at the end of 2020.
Mountain Experience and Top of Europe Shops
In the first half of 2017, the Jungfrau Railway Group invested in increasing
the attractiveness of its adventure mountains. In May 2017, with the Grütsch
Trail from Grütschalp to Lauterbrunnen, the first freeride circuit in the
Jungfrau Region was opened. At Harder Kulm the capacity bottlenecks in the
restaurant were solved with the completion of the new extension at the end
of June 2017. The First Glider also introduced a new adventure on First. The
extended operating hours of the Mountain Experience allowed an earlier
season start, which in general increased the attractiveness of the region in
the intermediate season. The Rail Info of the Jungfrau Railways at the
Höhenweg in Interlaken was extended at the end of June 2017 by a new Top of
Europe shop, which guarantees the customers a comprehensive range of
services under one roof.
Outlook
Due to its strong position on the intercontinental growth markets and the
diversification of the visitor streams, the Jungfrau Railway Group is well
positioned for the second half of the year. At the beginning of the winter
season 2017/2018, the Jungfrau Railway Group is taking over the leadership
of the "Kleine Scheidegg Bahnhofbuffet" restaurant, due to its reorientation
towards gastronomy. For the first time ever, due to change in the timetable
in December 2017 together with the alliance partner of the Berner
Oberland-Bahnen AG, there will be a half-hour round trip all year round
between Interlaken Ost and Jungfraujoch.
Link to the 2017 half-yearly report, incl. CEO video:
www.jungfrau.ch/half-year-report
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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