04.04.2018 – 07:06

Jungfraubahn Holding AG

EQS-Adhoc: Jungfraubahn Holding AG: 41.6 million Swiss francs profit for Jungfrau Railway Group

EQS Group-Ad-hoc: Jungfraubahn Holding AG / Key word(s): Final Results
Jungfraubahn Holding AG: 41.6 million Swiss francs profit for Jungfrau Railway
Group

04-Apr-2018 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Press releaseJungfraubahn Holding AG Wednesday, 4 April 2018
 
41.6 million Swiss francs profit for Jungfrau Railway Group

The Jungfrau Railway Group recorded a profit of 41.6 million Swiss francs in
2017, thus achieving the best result in its history. At today's financial press
conference in Berne, statements will be made on the preceding financial year.

The Jungfrau Railway Group can look back on a strong financial year of 2017. It
generated an operating income of 193.8 million Swiss francs. This represents an
increase of 14.6% on the previous year. At the same time, it is the highest
turnover ever generated.

The Jungfrau Railway Group also recorded a new record high of CHF 143.8 million
(+ 14.1%) in terms of its most important source of income - traffic revenue. The
EBIT margin increased by 5.9% on the previous year to 27.4%. The return on sales
was 21.5%. The reporting year saw an annual profit of 41.6 million Swiss francs.

Jungfraujoch - Top of Europe
Excursions to the Jungfraujoch - Top of Europe benefited from the
diversification of the markets as well as the significantly stronger demand from
Asia compared with 2016. The best results in the history of the Jungfrau Railway
could be achieved, both in terms of visitor numbers and transport income. With
1,041,500 visitors, more than a million guests travelled to the Jungfraujoch in
the reporting year, for the second time since 2015. At CHF 107.2 million, the
net transport income of the Jungfraujoch segment rose by 14.8% on the previous
year. At the same time, an increase of 1 Swiss franc was achieved for the
average yield.

Experience Mountains
For all experience mountains, which include excursion transport to Harder Kulm,
First and Winteregg-Mürren, the Jungfrau Railway Group registered record
results. With an increase of 21.1 per cent in total, net transport income could
once again be significantly increased. For the experience mountains overall, a
2.8 million higher transport income was generated than in the previous year,
with 15.9 million francs.

Winter Sports
For the Winter Sports segment, the result of the start of 2017 until the end of
the season in spring 2017 was below average. However, thanks to the early
snowfall and cold temperatures, Jungfrau Railways was able to start the
2017/2018 winter sports season as early as mid-November 2017 and offer
continuous winter sports operations in Grindelwald and Wengen early on. The
Jungfrau Ski Region is a co-operation in which the Jungfrau Railway Group holds
more than 60%. In 2017, 936,500 new entries were recorded throughout the
Jungfrau Ski Region. For the Winter Sports segment, the net transport income
could be increased from 2016 by 6.5%. However, with 20.7 million francs in
comparison with the good winter sports years 2007/2008, it remains unchanged at
a low level.

Segment information                               

CHF (thousands)                  2017    2016    Change in %

Segment sales                                     

Net sales Jungfraujoch           128,699 110,855 16.1%

Net sales Experience Mountains   21,963  18,431  19.2%

Net sales Winter Sports          26,114  24,187  8.0%

Net sales Other segments*        45,982  42,130  9.1%

Elimination Group-internal sales -28,988 -26,573 9.1%

Total operating income           193,770 169,030 14.6%


*Other segments include, in particular, the Jungfraubahn power station,
Jungfraubahnen Management AG and the Lauterbrunnen car park.

Investments

The Jungfrau Railway Group invested 29.8 million Swiss francs in the reporting
year. Some of the investment priorities were measures to improve the value of
the offer for visitors, such as the new pavilion at the Harder Kulm restaurant
and the new "First Glider" adventure attraction on the Grindelwald-First
adventure mountain.

By the end of 2017, 108 million Swiss 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 320 million Swiss francs. Over CHF 90 million of this was
used for the renewal of the rolling stock on the Wengernalp and Jungfrau
Railways, whereby important elements of the V-project could be implemented.

Key figures of the consolidated financial statements                          

CHF (thousands)                                      2017            2016
Change in % %

Operating income                                     193,770         169,030
14.6%

Transportation income                                143,799         125,984
14.1%

EBIT                                                 53,038          36,332
46.0%

Annual profit                                        41,601          30,964
34.4%

Free cash flow                                       33,837          18,111
86.8%

Headcount (full-time positions)                      542             536
1.1%

                                                     2017            2016
Change in % %

Dividend                                             2.40 (Proposal) 2.10
14.3%

Outlook

The 2018 financial year began slowly in the Jungfraujoch segment. Due to heavy
gales in January, operation was affected for a total of ten days with partial or
complete closures. From 1 January to 31 March 2018 114,428 guests visited the
Top of Europe. Compared to the same period in the record previous year, a slight
decline of 7,673 guests, 6.3%, was recorded.

Despite an early start in November 2017, the winter sports business continued to
be challenging in the 2017/2018 season. From the beginning of the season in
mid-November 2017 to Easter Monday, 2 April 2018, the Jungfrau Ski Region as a
whole with 938'820 skier visits was able to record an increase of 12.3% on the
2016/2017 winter sports season. Nevertheless, shortly before the end of the
season, the number of visitors is still at a low level compared with the good
winter sports years of 2007/2008.

The Jungfrau Railway Group's main strategic project is the V-Cableway, which
will strengthen the competitiveness of Jungfraujoch as a world famous hotspot,
as well as the Jungfrau Ski Region as a top winter sports destination. The
remaining objections could be settled by the end of February 2018. The Jungfrau
Railway Group expects to receive the building permit from the Federal Office of
Transport (BAV) by the end of May 2018, which will ensure the timely
commissioning of the Grindelwald-Männlichen gondola lift and the opening of the
"Eigerexpress" tricable gondola in December 2020.

Change in the management board

As Jungfraubahn Holding AG communicated at the end of November 2017, former
executive board member Bruno Hofweber will not stand for re-election at the 2018
AGM. Since then, the Board of Directors has considered possible succession and
has decided to propose lawyer Dr. iur. Catrina Luchsinger Gähwiler to the AGM as
a new member. The proven expert in mergers and acquisitions, capital & financial
market law and corporate governance & compliance has been a partner at law firm
Frorieb Legal AG in Zurich since 2007, where she had previously worked as a
lawyer for seven years. The 51-year-old is among others a member of the Swiss
Asian Chamber of Commerce, the Shanghai Business Club and the International
Pacific Bar Association. She is married, has a son and lives with her family in
Zollikerberg / Zurich.

Annual Report & applications to the AGM

The Jungfrau Railway Group General Meeting will take place in Interlaken on 14
May 2018. The management board proposes an increase in the dividend from 2.10 to
2.40 francs.

The Jungfraubahn Holding AG Annual Report was created as an online annual report
for the reporting year 2017. This has been published under the following link:

- 2017 Annual Report:www.jungfrau.ch/business-report

Agenda AGM Jungfraubahn Holding AG

1. Annual report with management report and 2017 financial statement, 2017
consolidated financial statements and reports of the auditor

Board of Directors proposal:Approval of the annual report with the management
report and financial statements for 2017 as well as the 2017 consolidated
financial statements. Recognition of the remune- ration report 2017 and the
information on corporate governance.

2. Use of balance sheet profit and decision on dividends

Board of Directors proposal:Distribution of a dividend of 5,835,000 shares at
CHF 2.40 per share at a par value of CHF 1.50 (CHF 14,004,000) and amount to be
carried forward of CHF 73,793,365.

3. Granting of discharge to members of the Board of Directors and the Executive
Board

Board of Directors proposal:Granting of discharge to members of the Executive
Board and Manage- ment Board.

4. Election of Board of Directors

a) Chairman

Board of Directors proposal:Election of Prof. Dr. Thomas Bieger (current) for a
term of office of one year.

b) Members

Board of Directors proposal:Election individually of Peter Baumann (current),
Nils Graf (current), Dr. iur. Catrina Luchsinger Gähwiler (new) Hanspeter
Rüfenacht (current) and Ueli Winzenried (current) for a term of office of one
year.

5. Election of Remuneration Committee

Board of Directors proposal:Election individually of Peter Baumann (current),
Prof. Dr. Thomas Bieger (current) and Hanspeter Rüfenacht (current) for a term
of office of one year.

6. Approval of the overall sum of future remuneration

a) Board of Directors

Board of Directors proposal:Approval of the total sum of the remuneration of the
Board of Directors of a maximum of CHF 750,000 (total including employers'
contributions) up to the Annual General Meeting 2019.

b) Executive Board

Board of Directors proposal:Approval of the total amount of Executive Board
remuneration of a maxi- mum of CHF 2,280,000 (total including employer
contributions) for the financial year 2019.

7. Election of independent proxy

Board of Directors proposal:Election individually of notary Adrian Glatthard as
an independent proxy and notary Melchior Schläppi as his deputy, in the event
that the former is prevented from prepa- ration and attending the 2019 Annual
General Meeting, and for extraordinary general meetings which may be held until
then.

8. Election of Auditors

Board of Directors proposal:Election of KPMG AG, Gümligen for 2018.

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 Frankfurt, Stuttgart; SIX Swiss
Exchange



 

End of Announcement EQS Group News Service

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671093  04-Apr-2018 CET/CEST