Arosa Bergbahnen AG Celebrates Top Results, Expands Board Of Directors
The ordinary general assembly of Arosa Bergbahnen AG recently took place in a relaxed atmosphere. Lorenzo Schmid, Chairman of the Board of Directors of ABB for 30 years, presented the best business results in the company's 92-year history to the assembled shareholders. They approved the proposed dividend of 4%. Three new personalities were elected to the Board of Directors.
The Arosa Bergbahnen have reason to be happy because, like many other competitors, they can look back on an extremely successful 2021/22 financial year "Despite SARS-CoV-2, favorable constellations dominated the winter half-year, which ultimately gave us a perfect financial year with top results, which I himself would not have thought possible," said Lorenzo Schmid, President of the Board of Directors, beginning his speech at the Annual General Meeting. The result should be correctly assessed as an outlier. "Euphorating praise is out of place, let's keep our feet on the ground and stay put aware of reality," warned Lorenzo Schmid, looking at the new challenges ahead.
With sales of CHF 33.034 million, of which CHF 20.131 million came from traffic (summer and winter) and CHF 8.756 million from catering, the best overall performance in the company's history was achieved. Together with the Lenzerheide Bergbahnen AG (LBB AG), the first winter entries could be increased to 1.428 million. The annual profit amounts to CHF 1.250 million. EBITDA, the most important earnings figure in the mountain railway industry, also reached a record value of CHF 12.058 million in the past financial year. The EBITDA margin of 36.5% (compared to previous year: 28.3%) is excellent.
Dividend
After this outstanding financial year, the board of directors of the mountain railway company activated the dividend policy and proposed a distribution of CHF 4.00 per share (total TCHF 625) to the general meeting. With this, the Board of Directors deliberately wants to send a positive signal that an investment in the company and a participation in a possible next capital increase can also be rewarded with a return. The shareholders followed the motion with unanimous approval.
Performance development on the mountain
"After last year's investment breather, performance development on the mountain is picking up speed again with targeted projects," says Philipp Holenstein, Managing Director of Arosa Bergbahnen AG, with an outlook on the current 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 snow-making system on slope 9a between Carmenna middle station and LAW middle for CHF 3.4 million accounts for the lion's share. The construction work will soon be completed," says the Bergbahn boss. In the mountain gastronomy, the Arosa Bergbahnen invested 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 restaurants Weisshorn summit.
Expansion of the board of directors
Chairman of the Board of Directors and jubilarian Lorenzo Schmid, who has been successfully at the top of the mountain railway company for 30 years, was glamorously confirmed for another 3-year term of office. The previous members of the Board of Directors were also re-elected: Adrian Altmann, Peter Bircher, Christian Laesser, Markus Lütscher, Ludwig Waidacher, Werner C. Weber. The 10-strong Board of Directors is completed with three newly elected members. "I am very pleased that with Dr. Götz Bechtolsheimer, Barbara Janom Steiner and Pascal Jenny we have been able to recruit three proven personalities for the Board of Directors," said President Lorenzo Schmid.
Mayor Andreas Brunold, who has been on the board of directors since 2014 as a representative of the community of Chur, was dismissed from the board. The President of the Board of Directors, Lorenzo Schmid, paid tribute to the commitment of Andreas Brunold, who, as a representative of the major landowners in the ski area, supported numerous projects and helped to implement them. The new representative of the community of Chur on the board of directors of the mountain railway company will then be elected in a year.
