Still Challenging Times For Pilatus-Bahnen
PILATUS-BAHNEN AG can also look back on a challenging year in 2021. Closures ordered by the authorities, massive restrictions on the range of restaurants and the absence of international guests presented the company with major challenges, especially in the first half of the year. The rainy summer also contributed to the fact that the number of guests remained at a low level even during the high season. Despite this, the result was a positive EBITDA of CHF 2.8 million, which is CHF 0.5 million higher than in the previous year.
What positives can be taken from a year that was still held in suspense by the pandemic? On nice days, many guests from Switzerland visited Lucerne's local mountain. In autumn, cars with guests from overseas were parked at the valley stations again for the first time. The employees were extraordinarily flexible and looked after the guests at the usual high level, even at peak times.
Numbers 2021 - Assumption turned into reality
In 2020, those responsible at PILATUS-BAHNEN AG assumed that there would be almost no guests from Asia and North America in 2021 either. In 2020, total sales were already around 50% below the values before Corona. This has not changed in 2021 either, the framework conditions were roughly comparable. Nevertheless, all areas of the company were able to increase their income, so that total sales increased by 13.6% to CHF 20.56 million. The number of guests increased slightly to 448,805 (+11.9%). PILATUS-BAHNEN AG also managed to achieve a positive EBITDA of CHF 2.8 million.
Balanced result thanks to hardship benefits
In order to be able to bear these costs despite massive losses in sales, PILATUS-BAHNEN AG applied for hardship benefits from the canton of Obwalden. In addition to strict cost management without sacrificing security and the payment of short-time work compensation, the receipt of hardship benefits totaling CHF 1.6 million meant that a neutral result could be achieved overall for the 2020 and 2021 financial years. That means: PILATUS-BAHNEN AG is still solidly positioned even after the second year of the crisis.
Project of the century cog railway and replacement control system for panorama gondola
Despite the challenging situation on the market, the "Redesign of the rack railway" project is being implemented as planned and the first railcar was delivered last June. Extensive test drives and acceptance by the Federal Office of Transport were on the agenda. All eight new railcars will be in service from spring 2023. The track turners are to be replaced by April/May 2022 and the valley station is already shining in new splendor for the 2022 season. Work on the mountain station will continue this year.
The replacement of the controls on the panorama gondola lift from Kriens to Fräkmüntegg has already been completed. In a record-breaking six weeks, external specialists together with our own employees replaced the entire electronics of the gondola lift, which has been in operation since 1996. This ensures that the railway can continue to operate reliably for the next 15 years.
Slightly optimistic outlook for 2022
The current situation on the Covid front means that PILATUS-BAHNEN AG is cautiously positive about the near future. The Asian guests will probably not return in large numbers in the current year. The tragic situation in Ukraine and the associated geopolitical situation is being watched with concern. The travel movements from the rest of the world are also dependent on this. At the moment, guests from the USA continue to travel to Switzerland and Europe, but this can change quickly. "Despite all the adversities, we are convinced that we can achieve a positive result in 2022, because Switzerland and in particular the Lake Lucerne region will continue to attract numerous visitors from Switzerland and from all over the world, because our product is simply unique!" says Godi Koch, CEO of PILATUS-BAHNEN AG.
Further information on the Annual Report 2021 can be found at
