With an operating revenue of 179 million francs, the Jungfrau Railway Group recorded the highest revenue in its history. The increase on the previous year’s record figure was 8.1 per cent. This growth was mainly reached in the business with Asian guests.
Jungfraujoch – Top of Europe
In 2015, for the first time, over 1 million visitors travelled to Europe’s highest-altitude railway station. The millionth guest arrived on the Jungfraujoch on 30 December 2015. In 2015, a total of 1,007,000 persons visited the Jungfraujoch, the best result since the Jungfrau Railway opened in 1912. For the first time, traffic income in the Jungfraujoch business segment exceeded the 100-million franc mark with a figure of 107.6 million francs, an increase of 14.1 per cent. The net revenue in this segment amounted to 119.4 million francs. In addition to traffic revenue, this also includes revenue from the Top of Europe shops, rental income from restaurants, residential and business premises, proportionate compensation payments for access-provision for the village of Wengen and income from various services. It was possible to increase net revenue by 11.7 per cent compared to the previous year.
Experience mountains
In the experience mountains business segment, which comprises excursion traffic to the Harder Kulm, First and Winteregg-Mürren, the Jungfrau Railway Group also recorded positive results throughout. Overall, the experience mountains segment achieved a traffic revenue of 11.2 million francs, an increase of 12.1 per cent on the previous year. At 15.9 million francs, the net revenue for this segment increased by 7.3 per cent compared to 2014. In addition to traffic income, this includes revenue from adventure offers, compensation payments for access provision to the village of Mürren, rental income from restaurants, residential and business premises and income from various services.
Winter sport
The winter-sport segment recorded a below-average result. Traffic income fell by 0.6 million francs to 21.6 million francs. This represents a minus of 2.5 per cent on the previous year. The reduction in revenue was due to a drop in visitor numbers in day-visitors as well as holiday guests. The con-stantly warm temperatures and little snow meant that the Jungfrau Ski Region had a difficult start to the 2015/2016 winter season, similar to the previous year. The net revenue for the winter-sport segment amounted to 26.8 million francs, a minus of 2.4 per cent compared to 2014. In addition to traffic revenue, the net revenue also includes proportionate compensation payments for access-provision for the village of Wengen, rental income from restaurants, residential and business prem-ises as well as from various services.
Net revenue from other segments amounted to 42.3 million francs, an increase of 2.6 percent on the year before. The other segments in particular include the power plant of the Jungfrau Railway, Jungfrau Railways Management AG and the parking garage in Lauterbrunnen.
Segment information | | | |
In thousand CHF | 2015 | 2014 | Change in % |
Segment revenue | | | |
Net revenue Jungfraujoch | 119,433 | 106,915 | 11.7% |
Net revenue Experience mountains | 15,862 | 14,782 | 7.3% |
Net revenue Winter sport | 26,847 | 27,512 | -2.4% |
Net revenue other segments | 42,251 | 41,186 | 2.6% |
Elimination intercompany revenues | -25,697 | -25,084 | 2.4% |
Total operating revenue | 178,696 | 165,311 | 8.1% |
Investments
The Jungfrau Railway Group invested 58 million francs during the year under review. A major portion of this was used for the procurement of new rolling stock for the Wengernalp Railway and Jungfrau Railway to do with the V-Cableway project. Some 75 million francs was spent on the V-Cableway project by the end of 2015. This is already around 30% of the total sum that the Jungfrau Railway Group is investing in the project.
Key data to the Group result | | | |
In thousand CHF | 2015 | 2014 | Change in % |
Operating revenue | 178,696 | 165,311 | 8.1% |
Traffic income | 133,969 | 121,497 | 10.3% |
EBIT | 47,000 | 38,634 | 21.7% |
Annual profit | 36,211 | 30,352 | 19.3% |
Free cash flow | 5,443 | -235 | -2416.2% |
Number of staff (full time) | 525 | 519 | 1.2% |
| 2015 | 2014 | Change in % |
Dividend | 2.00 | 1.80 | 11.1% |
The group profit & loss account, group balance and business report for 2015, as well as proposals to the AGM, are published under the link www.jungfrau.ch/reports.
Prospects
Despite the difficult situation caused by several group cancellations following the attacks in Paris and Brussels as well as the introduction of biometric visas for visitors from China, only 18,800 fewer guests to the Top of Europe were recorded up to 15 April 2016 in comparison to last year’s record result. This represents a reduction of 12.8 per cent. However, from January to March, consistently higher visitor numbers were achieved compared to the average over the past five years. In the first quarter of 2016, this is the second-best result in the history of the Jungfraujoch.
The terrorist threat in Europe represents a major challenge for the current year. The diversification and continuing intensive cultivation of the Asian markets fill Jungfrau Railways with confidence in regard to summer business and the future course of business. From mid-May 2016, individual seat reservations and an extended evening timetable will be introduced on the Kleine Scheidegg-Jungfraujoch section, with the aim of increasing quality.
The winter sports business continued to decline from the start of the season in December, 2015 to the end of the season in April 2016. At 943,000 guests, the number of skier visits was 3.3 % below the figure for the 2014/2015 winter-sport season.
The Annual General Meeting of the Jungfrau Railway Group will be held in Interlaken on 23 May 2016. The executive board proposes a dividend increase from 1.80 to 2.00 francs.
Link to extract on business report 2015 in English: www.jungfrau.ch/reports
Link to business report 2015 in German: http://www.jungfrau.ch/en/company/investment/reports/download-annual-reports/
