Titlis Bergbahnen Back In The Black
From the beginning of November 2021 to the end of April 2022, Bergbahnen Engelberg-Titlis AG (BET) transported 482,497 guests. This means that 140,982 or 41% more first-time entries were registered than in the previous year. The income from railway operations increased from CHF 11.99 million to CHF 19.42 million, that from gastronomy and hotels almost doubled to CHF 5.94 million. The operating income of the traditional Engelberg company increased by over CHF 10 million to CHF 28.48 million the return to the full range of services and the increase in frequency simultaneously increased operating expenses by 22% to CHF 20.91 million. The bottom line was a profit of CHF 1.12 million in the first half of the year, and EBITDA increased from CHF 41,350 to CHF 7.56 million .
The main reason for the 41% increase to 482,497 first-time entries in the first half of the new financial year was that the authorities refrained from closing ski areas and restricting catering establishments last winter. In addition, BET was able to welcome an above-average number of annual/season ticket holders and benefit from excellent snow conditions. These factors contributed to the fact that the BET in snow sports were able to book frequencies that reached pre-coronavirus levels again.
Good half-year results and promising prospects
The company saw a trend reversal in group travel and recorded 14,637 first-time visitors. 86,614 individual travelers visited the Titlis, which can be attributed to an increase in guests from Switzerland and Europe. Thanks to these increases, the number of visitors was only slightly below those before the corona pandemic. The return to full service with continuous operation led to higher operating expenses - all restaurants were open again with correspondingly higher personnel and goods costs. Rising energy prices, investments in digitization measures, additional spending on marketing sales and the elimination of short-time work compensation contributed to the increase. The EBITDA has recovered from CHF 41'350 to CHF 7.56 million and again reaches a margin of 26.57%. The result shows on the one hand the resilience of BET, since a positive result could be achieved despite the absence of intercontinental tourism, but also the promising potential that goes hand in hand with the recovery of intercontinental tourism. The 2021/22 half-year report is available for download at www.titlis.ch/half-yearly-report.
"TITLIS 3020" promoted, summer offers expanded
After 5 years, the approval marathon for all projects is on the home straight - in May 2022 the approvals for the tower were granted by the canton of Obwalden and for line II by the federal government. The developments in international tourism and the conviction that the TITLIS 3020 project will continue to develop the company, the destination and Central Switzerland in a future-oriented and sustainable manner have prompted the Board of Directors to approve individual preparatory work.
The range of services on the mountain is constantly being expanded. From July, the popular family paradise on the Trübsee will have one more attraction - the new "Schmugglis Sbrinz Weg" invites young and old to follow in the footsteps of the smugglers and packers along the historic Sbrinz route; The "Globi & Schmuggli" children's festival is being held for the second time. Also on the Titlis summit, guests are entertained first-class - in addition to the space camp, candlelight dinners, starry nights, a mountain trophy and the August 1st event are held. The further development of the gastronomic offers is planned for the coming winter - the ski hut Stand will receive a modern concept and an interior design upgrade, the gastronomy in the Berghotel Trübsee will be renewed and a younger guest segment will be addressed in the Alpstubli. The return to intercontinental travel and thus to fully globalized tourism will still take some time. Nonetheless, BET expect that next winter there will be a partial return of this important visitor segment.
