EANS-Adhoc: Jungfraubahn Holding AG Jungfrau Railway Group achieved half-year
profit of CHF 11.2 million
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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07.09.2011
The Jungfrau Railway Group can look back on a pleasing course of business during
the first semester of 2011. The company recorded a half-year profit of CHF 11.2
million, exceeding the 2010 semester result by 23.9%. Overall, Switzerland´s
largest mountain railway group achieved an operating revenue of CHF 71.7 million
in the first 6 months, equivalent to an increase of CHF 4.4 million, or 6.6%
over the previous year. Thanks to an operative result (EBIT) of CHF 14.1
million, the Jungfrau Railway Group achieved an EBIT margin of 19.7%. In the
first 6 months of 2011, excursion traffic to the Jungfraujoch-Top of Europe
recorded positive growth. Some 313 600 guests visited the Jungfrau Railway
Group´s premium excursion destination, 48 500 more than the previous year.
Traffic income from this business sector was CHF 33.8 million. The positive
development in the group-travel business continued in the first semester of
2011. The course of business also benefited from the weak euro as this also
depreciated against major Asian currencies. Asian tourists were able to travel
to Europe at more favourable rates, which compensated for the negative effects
of the strong Swiss franc. In addition to the effect of currency exchange rates,
intensified marketing activity by Jungfrau Railways also contributed to the
growth recorded in the Asian market. The strategy of increasing the company
presence in Asia and being able to strengthen the Jungfraujoch - Top of Eu¬rope
brand in a time of crisis has proved effective.
The number of guests from the Eurozone is higher in winter than summer. The weak
euro meant that fewer guests from euro countries spent their winter holidays in
Switzerland. Nevertheless, the JUNGFRAU Ski Region achieved a pleasing result in
the first half of 2011, recording a revenue of CHF 29.7 million (last year CHF
32 million). The Jungfrau Railway Group, which holds a 63% share in the
JUNG¬FRAU Ski Region, achieved revenue of CHF 19.4 million from the sale of
winter-sport passes. CHF 0.6 million of this was accounted for by the Lauberhorn
chairlift, which was integrated into the Jungfrau Railway Group in 2011.
Investments in snow-making systems during recent years proved of great value
last winter. Although there was a shortage of snow, the JUNGFRAU Ski Region was
able to offer good piste conditions into spring.
The Jungfrau Railway Group has had a good start to the second half of 2011.
During the high-season months of July and August, a total of 245 000 persons
visited the Jungfraujoch-Top of Europe, equivalent to an increase of 9% over the
previous year. This pleasing development is primarily due to considerable demand
by Asian guests, continuing the trend shown in the first semester. The
earthquake and its aftermath in Japan had little effect on Jungfrau Railway
Group business. The strong franc is damaging for tourism, especially in regard
to the 2011/2012 winter season. This will also have an effect on the Jungfrau
Railway Group. The increases achieved in the second and third quarters are not
expected to continue to the end of the year.
The group profit and loss account and balance sheet are published at
www.jungfrau.ch/reports.
Further inquiry note:
Urs Kessler, CEO
+41 (0)79 407 90 52
end of announcement euro adhoc
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issuer: Jungfraubahn Holding AG
Harderstrasse 14
CH-3800 Interlaken
phone: +41 (0)33 828 71 11
FAX: +41 (0)33 828 72 64
mail: jb@jungfraubahn.ch
WWW: www.jungfraubahn.ch
sector: Railway
ISIN: CH0017875789
indexes: SPI
stockmarkets: Domestic Standard: SIX Swiss Exchange
language: English