2017 AT A GLANCE

Transcription

1 Jungfraubahn Holding AG 2017 AT A GLANCE

2 "We are convinced that the Jungfraubahn Group, based on its established position in the region, the international reach of its brand and its increased digital integration, is well prepared for challenging times. We can substantiate this for the previous year with a new record company profit of CHF 42 million" Prof. Dr. Thomas Bieger, Chairman of the Board of Directors Urs Kessler, Chief Executive Officer

3 There is a desire in the Jungfrau Region to experience nature close up, which is not possible to do elsewhere in such a diverse fashion and in such a compact area. This opens up attractive market potential to our mountain railway and leisure company. We can take advantage of this: at the end of 2017, we realised new visitor and sales records on Jungfrau Railway, Harder Railway, Mürren Railway and for the summer business of the First Aerial Cableway and, for the second time, more than one million guests visited the Jungfraujoch Top of Europe. The majority came from Asia, where the traditional tour operation business is significant. There is also an increase in the trend of the number of individual travellers from this region. We have also increasingly observed large families and small groups that organise their own tours and accommodation and sometimes even stay for very short periods. Along with our innovative team, we are convinced that the Jungfraubahn Group, based on its established position in the region, the international reach of its brand and its increased digital integration, is well prepared for challenging times. We can substantiate this for the previous year with a new record company profit of CHF 42 million. Last year we received 1,041,500 visitors at Jungfraujoch - Top of Europe. This resulted in yet another transport income of over CHF 100 million in the history of Jungfrau Railways. In 2016, we developed and implemented an electronic seat reservation system within months. This has proved to be successful with a new visitor record. The system forms the basis of further developments that accommodate the individual behaviour of our customers, namely spontaneous changes to travel plans. We thus put our innovative strength to the test and prepared ourselves for the best possible management of visitors on the new V-Cableway.

4 Since December 2012, the V-Cableway has been the central focus of company development: the tricable gondola Eiger Express is the most prominent element of this strategic project. Together with the new Männlichen Railway, the main facility of Gondelbahn Grindelwald-Männlichen AG, this tricable gondola lift is the "V" which has given the entire project its name. We are on the verge of issuing the plan approval for the cable cars and the terminal, and we are therefore just about to start a three-year construction phase. The great progress with the V-Cableway will lead to the strategic horizon of the company stretching beyond the opening of the V-Cableway. The Board of Directors believes, on the recommendation of the Executive Board, that the future challenge lies in the strengthening of added value in the existing context. Its answer to this is the further development of the Group into an integrated leisure and service company. The first steps have already been initiated. Since the start of this winter season, we have been operating our restaurant services on Kleine Scheidegg autonomously. In Interlaken, we are testing an integrated model of travel information office, ticket sales point and leisure shop. Prof. Dr. Thomas Bieger Chairman of the Board of Directors Urs Kessler Chief Executive Officer

5 KEY FIGURES 176,899 On-time arrivals 16,800 Hours of annual slope preparation for winter sports 699 Employees

6 KEY FIGURES 2013 TO 2017 CHF (thousands) Balance sheet Current assets 116,387 79,613 70,081 66,857 77,876 Fixed assets 540, , , , ,188 Outside capital 120, , , , ,789 Equity 535, , , , ,275 Balance sheet total 656, , , , ,064 Income statement Operating income 193, , , , ,732 Transportation income 143, , , , ,547 Operating expenses 106,027 97,951 96,093 94,968 95,228 Personnel expenses 55,276 53,402 53,440 52,045 51,740 EBITDA 87,743 71,079 79,395 67,523 66,504 Depreciation and amortisation 34,705 34,747 32,395 28,889 28,128 EBIT (operating profit) 53,038 36,332 47,000 38,634 38,376 Group profit after third-party shareholders 41,601 30,964 36,485 30,597 30,335

7 CHF (thousands) Cash flow statement Cash flow from operating activities 63,593 68,519 63,256 56,696 64,892 Cash flow from investing activities 29,756 50,408 57,813 56,931 29,314 Cash flow from financing activities 10,394 8,358 6,052 8,736 14,844 Free cash flow 33,837 18,111 5, ,578 Key figures Equity ratio 81.6 % 80.9 % 81.5 % 80.9 % 79.7 % EBITDA in relation to operating income 45.3 % 42.1 % 45.2 % 41.6 % 41.1 % EBIT in relation to operating income 27.4 % 21.5 % 26.8 % 23.8 % 23.7 % Return on sales (ROS) 21.5 % 18.3 % 20.8 % 18.8 % 18.8 % Number of personnel Earnings per employee Personnel expenses in relation to operating income 28.5 % 31.6 % 30.5 % 32.0 % 32.0 %

8 CONSOLIDATED INCOME STATEMENT CONSOLIDATED FINANCIAL STATEMENTS FROM 1 JANUARY TO 31 DECEMBER CHF (thousands) Operating income Transportation income 143, ,984 Compensation 10,152 9,060 Sale of energy 9,768 9,528 Souvenir shops 7,549 5,981 Gastronomy and lodging Service income 6,549 5,779 Rental income 7,857 6,538 Other income 7,608 6,095 Total operating income 193, ,030 Operating expenses Cost of goods 3,634 2,733 Purchase of energy 2,967 3,040 Personnel expenses 55,276 53,402 Other operating expenses 44,150 38,776 Total operating expenses 106,027 97,951 EBITDA 87,743 71,079 Depreciation and amortisation Depreciation of tangible assets 33,399 33,833 Amortisation of intangible assets 1, Total depreciation and amortisation 34,705 34,747 EBIT 53,038 36,332

9 CHF (thousands) Financial result Financial expenses Results from associated companies 2 3 Financial income 464 2,722 Total financial result 71 2,545 Profit before tax 52,967 38,877 Income taxes 11,366 7,913 Annual profit before minority interests 41,601 30,964 Thereof proportion to shareholders of Jungfraubahn Holding AG 41,292 30,902 Thereof proportion minority shareholders Result per share Shares issued 5,835,000 5,835,000 Average balance of time-weighted treasury shares 9,541 10,736 Average number of time-weighted outstanding shares 5,825,459 5,824,264 Undiluted and diluted result per share in CHF

10 THE 8 ELEMENTS OF THE V-CABLEWAY EIGER EXPRESS GRINDELWALD CAR PARK GRUND GRINDELWALD FIRST 8 BOB AND STATION ROTHENEGG 3 2 1

11 7 RENEWAL OF ROLLING STOCK "JUNGFRAU RAILWAY PREMIUM" 5 6 RENEWAL OF ROLLING STOCK "WENGERNALP RAILWAY PLUS" 4 REPLACEMENT OF GRINDELWALD MÄNNLICHEN GONDOLA LIFT GRINDELWALD GRUND TERMINAL

12 V CABLEWAY 1. PROJECT OPTIMISATION: Supports 6 and 7 of the "Eiger Express" tricable gondola lift will be optimised regarding height and location. Support 6 will be reduced by 2.5 metres to 20.5 metres and support 7 by 5.5 metres to 29.5 metres. Support 7 will be also be shifted downhill by one support width (17.9 metres). (1) The tricable gondola lift cabins, 28 TGD "Eiger Express", will be discreetly designed. The exterior paint will be a matt anthracite shade and no longer red. (1)

13 2. REPLACEMENT MEASURES: There are various replacement measures for the V-Cableway. On the advice of experts and in discussion with the competent authorities, the improvement of habitats, for example, for the midwife toad ("Glögglifrösch"), is an accepted, suitable and worthwhile replacement measure. The objective is to further strengthen the population, which is under pressure in the Grindelwald valley. There is a suitable habitat that can be improved for the midwife toad on various plots of land in Grindelwald. (2) The Sträätli gallery (avalanche protection gallery for the Wengernalp Railway) is painted in anthracite grey and incorporated into the landscape as far as possible (avalanches) with bushes/trees (2) (4) (3)

14 appropriate to the location, such as alder, willow, dwarf shrubs and rowan trees. (3) During construction of the Rothenegg stop, the Wychel watercourses will be restored. Interventions in the Wychel watercourses will improve the current situation, where a natural channel originates, so that the stream is enhanced. (4) On the advice of experts and in discussion with the competent authorities, scrub clearances are planned in the wild hay fields located above Burglauenen in "Straffel" (object of the Swiss Federal Inventory of Dry Grasslands and Pastures). The objective is to preserve these biodiverse pastures, which are cut by hand. (5) (5)

15 PROJECTS/HIGHLIGHTS 2017 JUNGFRAUJOCH TOP OF EUROPE: 25 December 2017 was the 40 th anniversary of the death of Charlie Chaplin. On 7 December 2017, in memory of the film icon, Jungfrau Railways and Chaplin's World unveiled a Chaplin Statue on the Jungfraujoch Top of Europe. (6) EXPERIENCE MOUNTAINS: On 4 August 2017, the First Eagle Glider was opened on Grindelwald First. The flight attraction is unique in Switzerland. (6)

16 The rapid flight in the clutches of an eagle speeds at up to 83 km/h from Schreckfeld station up to First and back again. (7) On Saturday, 20 May 2017, the first free-ride stretch of the Jungfrau Region was officially opened. After several years of project planning, the Bikestrecke Grütschalp Association was able to start building the bike trail in August The stretch of the "Grütsch trail" leads from Grütschalp to Lauterbrunnen. (8) On 6 July 2017, a new pavilion with 135 additional seats was opened on Harder. It features two panoramic façades with a view of the three peaks in the south and the Gemmenalphorn in the north. (9) (7) (8) (9) (11)

17 WINTER SPORTS: For the 2017/18 winter sports season, the largest four Bernese ski resorts pulled together. The Jungfrau Ski Region, Adelboden-Lenk, Meiringen-Hasliberg and Gstaad launched a joint season subscription. For CHF 666 in advance, you will get free travel on 666 km of slopes in the Bernese Oberland. (10) In the 2017/18 winter sports season, for the first time there was a 15x15 metre jump cushion in the Snowpark on Grindelwald First, which gently catches daring winter athletes after their test jumps. (11) (10)

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