07.09.2017 – 07:06

Jungfraubahn Holding AG

EQS-Adhoc: Jungfraubahn Holding AG: The Jungfrau Railway Group achieved a half-year profit of CHF 17 million

EQS Group-Ad-hoc: 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               2016               Change
1/1-30/6                     in CHF (thousands) in CHF (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 Europe 47,444             39,029             21.6%

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------------------------------------------------------

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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607399  07-Sep-2017 CET/CEST