19.04.2017 – 07:05

Jungfraubahn Holding AG

EQS-Adhoc: Jungfraubahn Holding AG: 30.9 million profit for Jungfrau Railway Group

EQS Group-Ad-hoc: 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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Press releaseJungfraubahn Holding AG Wednesday, 19 April 2017
 
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 linkwww.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------------------------------------------------------

Language: English

Company:  Jungfraubahn Holding AG

          Harderstrasse 14

          3800 Interlaken

          Switzerland

Phone:    +41 33 828 71 11

Fax:      +41 33 828 72 64

E-mail:    info@jungfrau.ch

Internet: www.jungfrau.ch

ISIN:     CH0017875789

Valor:    A0CACJ

Listed:   Regulated Unofficial Market in Stuttgart; SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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565371  19-Apr-2017 CET/CEST