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Cisalpino AG

Cisalpino AG year-end results

Bern (ots)

Reference to picture: www.newsaktuell.ch/d/galerie.htx?type=obs
Train operator Cisalpino AG can again report buoyant
annual results, extending its track record to three profitable years
in succession. Sales of CHF 65.82 million are 12% up on the previous
year's figure of CHF 58.82 million. Operating result increased by
around 54%, from CHF 8.13 million to CHF 12.55 million. This pleasing
business development is also reflected in cash flow, which shows an
on-year increase of 14% from CHF 18.35 million to CHF 20.91 million.
Semi-annual figures for 2002 confirm the positive development trend.
2001 marks a further consolidation of recent results achieved by
Cisalpino, an Italian-Swiss joint venture with equity stakes held by
Trenitalia S.p.A., the Swiss Federal Railways, the BLS regional
railway and several cantons in western Switzerland.
1997     1998     1999     2000     2001
Sales
in CHF million      29.48    41.03    58.30    58.82    65.82
Operating result 
(EBIT)
in CHF million      -7.59    -3.13     7.75     8.13    12.55
Net profit
in CHF million     -10.34    -9.79     0.63     3.30     5.79
Cash flow
in CHF million       0.73     1.81    15.34    18.35    20.91
Cisalpino AG's success comes not only from an effective marketing
strategy and ongoing cost optimisation, but also its unique
organisational structure - a fact confirmed in an audit conducted by
one of the principal shareholders. Outsourcing is just one element of
the management company's lean organisation that permits flexible
response to changes in the travel market.
Cisalpino AG holds a concession and licence for the Swiss railway
network and operates its tilting trains on three principal routes:
Gotthard, Simplon - Geneva and Simplon - Lötschberg. The Cisalpino
fleet provides 430 long-distance connections a month, covering a
combined annual distance of around 2.5 million kilometres. Fourteen
daily connections ply between Stuttgart - Zürich - Milan, Zürich -
Milan - Florence, Geneva - Milan - Venice and Basel/Bern - Milan.
On the maintenance side, increased efforts are currently underway
to improve interior standards in the well-utilised trains. Increasing
utilisation confirms the appropriateness of measures introduced to
date, which are continually monitored and supplemented in order to
provide a quality service on long-distance passenger routes across
the Alps.

Contact:

Lucio Gastaldi
Managing Director
CISALPINO AG
CH-3001 Bern
Phone +41/31/329'09'01
mailto:info@cisalpino.com
Internet: www.cisalpino.com