Titlis: Strong Financial Year With Ongoing Generational Project
The Engelberg-Trübsee-Titlis AG (BET) mountain railways look back on a very successful 2024/25 financial year. Despite geopolitical tensions, economic uncertainties, and the challenging construction phase on Mount Titlis, which noticeably impacted the summit experience at times, the company was able to further expand its operations and significantly increase visitor numbers.
Visitor growth was recorded across all guest segments.
The number of first-time visitors increased by 4.3 percent to 1,162,767 guests – the third-best result in BET's history. Between November 2024 and April 2025 alone, 651,599 guests visited Mount Titlis. This represents an increase of 7.3 percent compared to the previous year and a new half-year record for the company. The remainder of the year also developed very positively, underscoring the continued appeal of Mount Titlis as a year-round destination. In the 2024/25 financial year, the number of group travelers rose by 2.6 percent, the number of individual travelers by 4.3 percent, and the number of snow sports enthusiasts by 5.8 percent. Transport revenue increased from CHF 50 million to CHF 53.3 million. Operating revenue decreased from CHF 85.7 million to CHF 81.3 million because the previous year's result was positively impacted by the one-off sale of the Steinacher property for CHF 8 million.
Operationally stronger than last year
Operating expenses increased from CHF 55.3 million to CHF 57.7 million, primarily due to the concurrent day-to-day operations and construction work, and the associated staffing requirements. Profit decreased from CHF 15 million to CHF 7.7 million, and EBITDA (earnings before interest, taxes, depreciation, and amortization) fell from CHF 30 million to CHF 23.6 million. These declining figures can be attributed entirely to the one-off special effect from the previous year – the sale of the Steinacher property. Adjusted for this special effect, the picture is exceptionally positive: Operationally, BET achieved a top result with over 1.16 million guests – despite the extremely demanding construction activities on the summit and at the Trübsee mountain hotel, where temporary structures and new restaurant formats were erected in anticipation of the upcoming dismantling of the Titlis mountain station. This placed high demands on operational processes, employees, and infrastructure. The Board of Directors proposes to the Annual General Meeting that an unchanged dividend of CHF 0.80 per share be distributed. Despite the increase in debt capital as a result of the Titlis project, BET boasts a very solid balance sheet structure with an equity ratio of 62%.
The long-term strategy is bearing fruit.
A significant milestone for the long-established Engelberg company was the removal of the scaffolding from the Titlis Tower in autumn, which will open at the end of May 2026. The media response was very positive, and the destination's public image was noticeably enhanced. The tower now showcases its full elegance and is already radiating its brilliance. The foundation for this future-oriented project was laid over ten years ago with targeted investments such as the Titlis Resort and the Titlis Xpress. Today, BET is realizing the centerpiece of this long-term strategy. Alongside the construction investments, the company has also consistently pursued its organizational, personnel, and cultural transformation. These forward-looking decisions enable BET to achieve sustainable growth, increase its profitability, and simultaneously strengthen the tourism competitiveness of the Engelberg-Titlis destination. The very positive results confirm the attractiveness of the existing offerings, while the Titlis Tower and the new mountain station open up further growth potential.
