Jungfraubahn Holding AG

EQS-Adhoc: Jungfraubahn Holding AG: Jungfrau Railways Group achieves second-highest number of visitors to the Jungfraujoch

EQS Group-Ad-hoc: Jungfraubahn Holding AG / Key word(s): Half Year Results
Jungfraubahn Holding AG: Jungfrau Railways Group achieves second-highest number
of visitors to the Jungfraujoch

05.09.2016 / 16:07
Release of an ad hoc announcement pursuant to Art. 53 KR.

Media release Jungfraubahn Holding AG
5 September 2016

Important information:Due to a technical glitch, parts of the half-yearly report
of Jungfraubahn Holding AG have inadvertently been made available to the public.
The entire half-yearly report of Jungfraubahn Holding AG will thus have to be
published on the afternoon of Monday, 5 September 2016.

Jungfrau Railways Group achieves second-highest number of visitors to the

The Jungfrau Railway Group can look back on a satisfactory first semester for
The consequences of the terrorist attacks in Europe have had a noticeable impact
on business results. The achieved operating revenue of CHF 78.7 million
represents a reduction of 7.3% on last year's record figure, however is above
the five-year average. During the first six months, 376,100 visitors travelled
to the Jungfraujoch, equivalent to the second-best result ever.

Excursion traffic to the Jungfraujoch - Top of Europe continues to benefit from
market diversification and the demand from Asia. However, the terrorist attacks
in Europe, unrest in Turkey and the refugee issue have had a negative impact on
the number of visitors, particularly in group business from Asia. The new visa
regulations in China were also an added hindrance. The second-best result in the
history of the Jungfrau Railway was achieved in visitor frequencies as well as
in net traffic revenue. In the first half of 2016, a total of 376,100 visitors
travelled to the Jungfraujoch, 48,500 fewer than the record achieved last year.
At CHF 39 million, net traffic revenue for the Jungfraujoch business segment is
12.2% lower than for the same period in the previous year. Nevertheless, the
success of 2014 was surpassed despite the challenging environment. Here it was
vital that the company once again increased the intensity of cultivating the
Asia market, in order to further strengthen the Jungfraujoch brand.

Taken as a whole, the experience mountains segment of the Jungfrau Railway Group
has started the summer season on a positive note. The First Aerial Cableway has
recorded a 38.9% increase in the number of guests in comparison to the previous
year. Overall, the net traffic revenue for the experience mountains segment
totalled 4.3 million Swiss francs, an increase of 13.2 per cent on last year.

After a difficult start to the 2015/2016 winter season caused by unfavourable
weather conditions, the result for the period under review also fell below
average from January to the end of the 2016 season. From 1 January 2016 to the
end of the season in April 2016, the JUNGFRAU Ski Region, of which the Jungfrau
Railway Group holds a share of over 60%, recorded 801,000 skier visits, a drop
of 4.6% compared to the same period in the previous year. For the Jungfrau
Railway Group, this equates to a net traffic revenue of CHF 15.6 million from
the winter sports business, representing a reduction of 8.6%.

The Jungfrau Railway Group achieved a profit of CHF 10.6 million in the first
semester of 2016. At 27.8 per cent, the decline in profits was disproportionate
compared to the previous year. This was to be expected, due to the high
proportion of fixed costs - which is in the nature of the business - and an
increase in write-offs.

VISITOR FREQUENCY                2016     2015     Change
1.1.-30.6.                       in TCHF  in TCHF  in %

Jungfraujoch (arr.)              376, 100 424, 600 -11.4%

Skier Visits JUNGFRAU Ski Region 801, 000 839, 400 -4.6%


Jungfraujoch - Top of Europe     39, 031  44, 450  -12.2%

Experience mountains             4, 349   3, 843   13.2%

Winter Sport                     15, 624  17, 090  -8.6%

Consolidation                    -2       -9       -77.8%

Total traffic revenue            59, 002  65, 374  -9.7%

The company recorded an operative result (EBIT) of CHF 10.8 million and achieved
an EBIT margin of 13.7%.

The result was affected in particular by the terrorist attacks in Europe and the
associated global news coverage. The events led to a reduction in the number of
Asian guests, who cancelled their trips to Europe for safety reasons.

During the first half of 2016, the Jungfrau Railway Group focused on investment
in quality. Seat reservation for individual passengers was introduced in mid-May
to eliminate guests having to stand in the trains during high season. The
Jungfrau Railway Group has extended its evening schedule by adding two more
trains as well as optimising the guidance system for guests, with the aim of
improving guest distribution throughout the day and thus upgrading the quality
of the trip to the Jungfraujoch.

The V-Cableway will secure the medium and long term future success of tourism
for the entire Jungfrau Region as a top year-round destination. It will
strengthen the competitiveness of the Jungfraujoch as a world famous visionary
project and help the winter-sports destination to take a leading position in
international competition.

At the beginning of 2016, Canton Bern approved the amendments to the land-use
plans passed by the municipalities of Grindelwald and Lauterbrunnen. The five
complaints received will be assessed by the Directorate of Justice, Municipal
Affairs and Church Affairs of Canton Bern. The applications for planning
approval for the 3S-Cableway and the new Grindelwald-Männlichen Aerial Gondola
(GGM) were submitted in spring 2016. In a next step, the Federal Office of
Transport (FOT) will rule on the approval of the plans and make a decision on
the objections submitted. Responsibility for the secondary installations
(parking garage, ski pistes) lies with the Interlaken-Oberhasli Government
Registrar. The aerial cableway companies involved anticipate that with an
optimum process procedure, the new Männlichen Aerial Gondola and the 3S-Cableway
could be operational by the end of 2019.

The Jungfraubahn Holding AG has kept its promise within the scope of the
V-project and exercised its subscription rights for a GGM share capital
increase. In order to meet the wishes of the Itramen farming cooperative among
other things, the Jungfrau Railway Group has acquired an additional proportion
of shares in the course of the capital increase. It now holds an almost 36%
share of the GGM.

In February 2016, the first of four new three-section low-floor trains for the
Jungfrau Railway was delivered by Stadler Rail AG and put into scheduled service
from the end of May 2016. Commissioning of the other trains followed in stages
and was completed at the end of August 2016. The procurement of new rolling
stock is an element of the V-Cableway project. The new rolling stock including
the customer information system will significantly increase travelling quality
for guests as well as productivity.

The number of visitors to the Jungfraujoch in July and August did not reach the
record levels of the previous year. Nevertheless they are considerably above the
average of the last five years and the reference year of 2014. The First Aerial
Cableway and the Harder Railway were able to make further gains on the past
record year. The second half of this year remains a challenge.
The Jungfrau Railway Group however, is well situated due to its strong position
in intercontinental growth markets and diversification of its guest flow. The
major investments made will have a positive impact. Thanks to its new rolling
stock, the Jungfrau Railway will

operate a 90 minute circulation to the Jungfraujoch from the timetable change in
2016, thus reducing the round trip by 30 minutes and significantly increasing


For questions: Patrizia Bickel, Head of Corporate Communications, +41 (0)79 222
53 10

End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Jungfraubahn Holding AG

          Harderstrasse 14

          3800 Interlaken


Phone:    +41 33 828 71 11

Fax:      +41 33 828 72 64


Internet: www.jungfrau.ch

ISIN:     CH0017875789

Valor:    A0CACJ

Listed:   Regulated Unofficial Market in Stuttgart; SIX Swiss Exchange

End of News EQS Group News Service
498965  05.09.2016 

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