Niesenbahn AG Holds AGM

At the Annual General Meeting NIESENBAHN AG presented the 363 shareholders with a 10-year average result. This is at "too low a level", but is satisfactory given the general conditions. The above-average earnings per guest are striking. The shareholders followed the motions. Chairman of the Board of Directors Dr. In his assessment of the situation, Daniel Fischer focused on the strategic key projects and the very surprising impact of the company (see separate media release on the "impact analysis").

Chairman of the Board of Directors Dr. Daniel Fischer presented the 363 shareholders and guests with a total turnover of CHF 4,919,580 (previous year: CHF 4,713,612), with CHF 2.7 million in railway operations and CHF 2.2 million in the Berghaus Niesen Kulm was generated. 73,380 guests visited the Niesen in the second Corona year. This is 7.5% more than in the previous year. The willingness of guests to spend is striking: while a guest spent an average of 54 francs in the record year 2016, it was over 67 francs in the year under review; similar to last year. The EBITDA as earnings before interest, taxes, depreciation and amortization amounted to CHF 739,264 or 15 percent in the year under review (previous year: 14 percent). Compared to the pre-Corona years, this is stable, but too low. dr

Discharge granted

In the statutory agenda items, the shareholders followed the proposals of the board of directors: the payment of a dividend will again be waived, the chairman of the board of directors, board of directors and auditors were elected for a further year, the board of directors and management were discharged.

Key project «share conversion»

Due to legal requirements on transparency and exchange of information for tax purposes (Global Forum Law), the bearer shares of NIESENBAHN AG had to be converted into registered shares by May 1, 2021. The ordinary General Assembly on April 26, 2021 approved the project in a written vote with 90 percent yes. Around 90 percent of the shares have now been registered. This corresponds to 882 shareholders with 12,332 shares. The owners of the missing 10% are asked to contact the company.

Cooperation Elsigenalpbahnen AG: Small profit in the first year

On November 1, 2021, NIESENBAHN AG leased the Berghaus Elsigenalp from ELSIGENALPBAHNEN AG. This gave rise to a new collaboration from “summit to summit” in the Kandertal. The two companies are pursuing individual goals: NIESENBAHN AG can now also offer year-round positions in gastronomy, for ELSIGENALPBAHNEN AG the Berghaus is of central importance for quality and customer loyalty in the ski area. The first year was characterized by a shortage of skilled workers, restrictive corona conditions with the "Omicron wave" until the end of January. After a slow start, there were good results in January and February, which ultimately led to a small profit of around CHF 50,000 at the end of the season.

Annual report “hybrid” for the first time

NIESENBAHN AG published the 2021 Annual Report for the first time in "hybrid" form: the 16-page annual report for the shareholders is printed and available in summarized form, further information and the detailed annual financial statements are made available online.

After the Berghaus, the drives and controls

In 2019, the renovation and renewal of the Berghaus Niesen Kulm was completed at a cost of CHF 7 million. The drives and controls of the two funiculars will now be renewed by 2024. These date from 1993 (first section) and 1997 (second section) and are not identical. As a result, the two sections function differently and the training and maintenance costs are correspondingly high. With the total renewal of CHF 4 million within three years, identical drives and controls will be installed, which will eliminate these disadvantages. NIESENBAHN AG is financing the investment of CHF 4 million from liquidity and bank loans.

On the way to energy independence

dr Daniel Fischer informed about other major projects in the area of route maintenance and in the energy sector. Maintenance work is constantly being carried out on the route, and in a few years the Kulm Gallery will have to be partially renovated. Climate neutrality with compensation for the currently remaining CO2 emissions of 183 tons with the myclimate foundation is an intermediate step. dr Daniel Fischer says: “We are on the way to energy self-sufficiency. The aim is independence from energy purchases and a climate-neutral energy supply.»

Premiere at the end

On request, Stefan Heimoz and Klaus Rubin have composed a new “Song of the Niese” for NIESENBAHN AG. The sneezing choir, composed of company employees, practiced the song ready for recording. It was presented to the shareholders at the end of the Annual General Meeting. The live premiere is planned for summer on the Niesen summit.

Key figures Niesenbahn AG