119th Annual General Meeting Of NIESENBAHN AG Held

The Annual General Meeting unanimously approved the proposals of the Board of Directors of NIESENBAHN AG. Chairman of the Board of Directors Dr. Daniel Fischer presented the 422 shareholders and guests with a stable result in the company's 116-year history. In his assessment of the situation, he focused on the successfully completed investment cycle, the challenging 2024 financial year, the cooperation with Elsigen, and the completed share conversion.

Stable results with strong market presence

NIESENBAHN AG once again confirmed its solid market position in 2024. With revenue of CHF 5.914 million, 87,837 guests, and a cash flow of CHF 678,994, the company demonstrates stable development. The product on the iconic mountain – consisting of the cable car, the mountain, and the mountain house – continues to enjoy broad market acceptance. Together with the leased Berghaus Elsigenalp operation, revenue exceeded CHF 7 million for the first time.

Investments in infrastructure and cooperation

NIESENBAHN AG invested heavily in the future as part of its strategic development: The project to renew the drive and control system in the first section of the Niesenbahn was completed successfully and on schedule. The cable car was able to start the 2024 season as planned. The total investment volume in both sections from 2022 to 2024 amounted to CHF 4.2 million. Including the Berghaus development in 2018/19, a total of CHF 11 million was invested. The investment cycle is now complete; consolidation is now the next step.

In the partnership with Elsigenalpbahnen AG, services were expanded, internal processes consolidated, and the cooperation model on Elsigenalp was further developed. The three-year introductory phase of the lease is complete – the team has successfully established itself at the Elsigenalp mountain lodge. The results for the 2024/25 winter season are encouraging, and the lease will be continued.

Share conversion completed – 950 shareholders

At the conclusion of the share conversion in 2024, 690 treasury shares were booked into the securities account – a result of the formal implementation of the single share class in accordance with new financial market regulations. In total, NIESENBAHN AG now holds 820 treasury shares, corresponding to approximately 6% of the share capital. The number of shareholders increased to 950 during the conversion.

Financial development with light and shadow

The 2024 balance sheet shows slightly increased liquidity of CHF 471,801, strengthened fixed assets of CHF 11.213 million and long-term liabilities of CHF 6.1 million. The latter result from the intensive investment activity of recent years.

The income statement and cash flow were impacted by various factors. In particular, operational instabilities in the Berghaus restaurant business led to extraordinary costs and quality losses. The weather-related weakness in the summer business also had a negative impact. The Board of Directors and Executive Board are dissatisfied with the profitability in the 2024 financial year and appropriate measures have been initiated for 2025.

Consistency in quality and sustainability in price competition

For the Niesenbahn, one thing is clear: quality is essential in a market that is increasingly positioning itself "through price (at the bottom)" – as the "Magic Pass" model demonstrates – and in which the company, due to its deliberately limited transport capacity, simultaneously has no opportunity to achieve returns through volume. The consistent focus on the domestic and Swiss market requires high quality in all dimensions, along with an uncompromising commitment to sustainability. Accordingly, the Niesenbahn's goals remain consistently focused on quality rather than quantity.