Schmittenhöhebahn AG Holds 97th Annual General Meeting

at the 97th Annual General Meeting of Schmittenhöhebahn AG, the company and its shareholders reflected on the 2023/24 fiscal year at the Ferry Porsche Congress Center. Despite significant economic pressures due to increased financing, wage, and energy costs, as well as a tight labor market, the company was able to consolidate its market position and, with 1,092,793 visitors (previous year: 1,082,046), is approaching the pre-pandemic level of 1,143,892 guests (2018/19).

Winter business: Volume stability despite climatic challenges

The 129-day 2023/24 winter season (December 1, 2023 - April 7, 2024) recorded 852,421 first-time visitors, representing a marginal decline of 1.8 percent compared to the previous year (858,254). It is noteworthy that this relatively moderate decline was achieved despite an exceptionally warm period of weather in February and March, which made any further snowmaking activities impossible from January 22, 2024, and significantly impaired the quality of the slopes.

Summer season 2024: record figures and strategic expansion

The earlier start of the season on May 9, 2024 (previous year: May 18) proved strategically advantageous: With
245,372 guests, the previous year's result (213,792) was exceeded by 14.8 percent – ​​a historic high for summer operations. This development underscores the successful diversification strategy of reducing the company's seasonal dependence.

Gastronomy and hotel industry: Divergent sales trends

The gastronomic sector presents a mixed picture: While the three mountain restaurants, two buffet stations, and an après-ski bar generated solid earnings during the winter season, summer sales of EUR 1,371,000 (previous year: EUR 1,386,000) fell slightly short of expectations – a clear indicator of changing consumer behavior in the current economic environment.
A strategic milestone was reached with the acquisition of the mountain hotel on May 1, 2024. Despite the challenges of integration and the establishment of new operational structures, a substantial sales volume was generated during the initial operating phase (starting May 9). This particularly underscores the medium-term growth prospects in this segment.

The boat service on Lake Zell also looks back on a successful season: Guest numbers exceeded the previous year's level, confirming the continued appeal of the lake's excursion offerings. Since Schmittenhöhebahn AG took over the boat service, the boat service achieved its best result ever, with 152,811 guests (previous year: 148,001 guests).

Sustainability strategy as an integral part of corporate management

Schmittenhöhebahn AG has consistently focused on sustainability for years. As the only EMAS-certified cable car company in Europe, the company is already integrating the expanded disclosure requirements regarding ecological and social risks and opportunities, which will apply from 2025, by integrating the environmental statement into its annual report.

The new employee housing "TEAMHAUS 2" exemplifies this approach: It meets the highest standards in terms of energy efficiency and CO₂ reduction and ensures a sustainable energy supply through the use of a monovalent brine-water heat pump combined with a photovoltaic system. The property's strategic location, within walking distance of public transportation and local shops, also optimizes the company's CO₂ footprint.

Personnel changes in the Supervisory Board

During the reporting period, several personnel changes took place on the Supervisory Board of Schmittenhöhebahn AG: Following the retirement of Dr. Wolfgang Porsche (May 23, 2024), his son Felix Porsche, BA, was elected as his successor at the 96th Annual General Meeting. Peter Auernigg succeeded Andreas Koll as employee representative (October 31, 2024). The operational management level was strengthened by the appointment of Herbert Kreiseder, MBA, as authorized signatory (April 9, 2025), following the retirement of Ernst Eder, MSc, effective December 31, 2024.

Outlook 2024/25: Strategic investments in capacity and employee retention

For the 2024/25 financial year, Schmittenhöhebahn AG plans significant investments in infrastructure and human resources management:

• The implementation of the company kindergarten "Kunterbunt" with 48 places and year-round support addresses the challenges of recruiting and retaining qualified employees through improved work-life balance.
• The renovation of the Kapellenbahn cable car with a modern 8-seater chairlift will double its capacity to 3,400 passengers per hour.
• Innovative technology and optimized stations will make transportation more efficient and comfortable. Construction will be carried out in two phases and completed in November 2026.
• The opening of a souvenir shop in the summit area offers an additional retail element that, in addition to classic souvenirs, focuses on regional and sustainable products.

These measures underline Schmittenhöhebahn AG's long-term strategy to consolidate and expand its market position in alpine tourism through continuous innovation and sustainable investments.