Arosa Bergbahnen - Good Results In Fiscal Year 21/22

Arosa Bergbahnen AG impressed in the 2021/2022 financial year with the best result in the company's history, which could not have been expected to this extent under the influence of the SARS-CoV-2 pandemic. After good summer business in 2021, the excellent external conditions and the pragmatically implementable corona protection measures, combined with a reliable home market, brought a jump in sales to CHF 33.034 million. The hardship payment for mountain gastronomy paid in the previous year was repaid in full. With the reported annual profit of TCHF 1,249, the Board of Directors will propose the payment of a dividend at the Annual General Meeting.

After the pleasing summer figures with 174,000 guests on the mountain, uncertainty and concern shaped the planning and preparation for the 2021/2022 winter season in the wake of the increasing number of corona cases. Despite the uncertainties surrounding the SARS-CoV-2 pandemic, it was an almost perfect financial year with ideal external conditions already in the summer months and an ideal change to a snow-sure winter with fantastic snow sports conditions and numerous sunny days. The optimal environmental conditions drove the company's overall performance up sharply (+23% on the 5-year average before Corona). Arosa Lenzerheide already started the winter season on November 13, 2021 and up until the Easter holidays there were excellent slope conditions in the largest connected ski area in Graubünden. The sunny days contributed to the magnificent winter: 55% of the 140 winter season days were blessed with a sunshine duration of 4 hours or more, often also at the weekend. The month of March with 24 sunny days stands out.

Best result in company history

The mountain railway company was able to grow strongly in all profitable business areas and keep costs under control. At the end of the financial year on April 30, the EBITDA of TCHF 12,058 was the best result in the company's 92-year history. This is a whopping 27% higher than in the last full financial year 2018/2019. An impressive annual profit of TCHF 1,249 can still be presented to the general meeting even after extensive additional depreciation. Lorenzo Schmid, President of the Board of Directors, is very satisfied with the result: "The result shows strong performance in a demanding market environment. The EBITDA ratio of 36.4% is excellent for a mountain railway company with its own mountain catering and accommodation facilities. The reported cash flow is a pleasing TCHF 11,256 and accounts for 34.1% of sales. Lorenzo Schmid, President of the Board of Directors at the top of the company since 1993 and industry expert, knows how to classify this top result correctly: "Several constellations played into our hands and the good experiences with the Corona protection measures helped that the mountain railway industry was able to introduce viable and gentle protection regulations The result for 2021/2022 is an "outlier" on the upside, our business remains challenging, as we all know from the most recent development." The board of directors of the mountain railway company wants to reactivate the dividend policy after this outstanding financial year. A dividend payment was last made after the 2018/2019 financial year.

Repayment of hardship compensation

Arosa Bergbahnen AG did not have to apply for any corona loans during the SARS-CoV-2 pandemic. In June 2021, the company requested hardship compensation to alleviate the significant drop in sales of CHF 3.5 million in the company's catering establishments for the periods from March 2020 to April 2021, which was paid out in autumn 2021 in the amount of TCHF 1,383. According to the requirements of the Covid-19 law, companies with a turnover of more than CHF 5 million have a conditional profit sharing, which now also applies to Arosa Bergbahnen AG. The company has now fully repaid the hardship payment of TCHF 1,383 paid in the previous year.

Well positioned for the next investment phase

"After last year's investment breather of CHF 3.8 million, the mountain railway company is shifting up a gear in terms of performance development on the mountain," says Philipp Holenstein, Managing Director of Arosa Bergbahnen AG, with an outlook on the new 2022/2023 financial year. A total of CHF 6.64 million is earmarked for new projects. "The terrain correction with the replacement of the old snowmaking system on slope 9a between Carmenna middle station and LAW middle for CHF 3.4 makes up the main part. Snow sports enthusiasts can get from the Arosa West area to the Arosa East area more comfortably and safely on this important transfer piste. The construction work is progressing well," said the cable car manager. In mountain gastronomy, Arosa Bergbahnen is investing in a new terrace with food containers for a continuous take-away offer in summer and winter and in improved room acoustics of the 360° panorama restaurant Weisshorn summit near the Brüggerstube. The mandatory revisions to the railway systems alone cost TCHF 700, the replacement of a snow groomer is TCHF 600 on the shopping list. An important step towards increasing the attractiveness of the Arosa Ost snow sports area around the Tschuggen was taken with the approval of the electorate for the partial revision of the local planning. Now the prerequisites have been created in the usage planning to implement the various sub-projects in the coming years. The summer business has started as expected,

Further information on the mountain railway company can be found at the general assembly of Arosa Bergbahnen AG. Then the Board of Directors will be re-elected or re-elected for the next three years. The instructions for exercising voting rights will be sent to shareholders in writing at the beginning of September 2022 together with the invitation.

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