Zermatt Bergbahnen: Another Year For The Recored Books
At the General Meeting of Zermatt Bergbahnen on September 22, 2023 in the Matterhorn Test Center, Franz Julen as Chairman of the Board of Directors and Markus Hasler as CEO were able to present the most successful financial year to date in the history of Zermatt Bergbahnen to the shareholders in attendance. In the 2022/2023 reporting period, operating income was CHF 88.1 million, EBITDA was CHF 48.8 million (55.3% of operating income) and cash flow was CHF 45.5 million (51.7% of operating income). These are key figures that represent absolute industry peaks. The operational record figures led to a recovery of the balance sheet, which made it possible to pay a dividend.
The Zermatt Bergbahnen were not only able to confirm the record annual results from the previous year, but have exceeded them and are above the values of the most important key figures such as operating income (+6.8%), EBITDA (+6.8%) and cash flow (+7.1%) last financial year as well as the benchmark values of the mountain railway industry. Already in the first quarter of the last financial year, there was a noticeable relaxation in the European travel market and the overseas markets. Increasing demand from guests from Asia and North America brought summer business to a new record in terms of earnings in 2022. Only in the area of summer skis was there a decrease,
In autumn 2022, the main media focus shifted to the forecast energy shortage and the possible electricity shortage in Switzerland. The mountain railways and the entire tourism industry became the point of reference in this discussion. Thanks to discussions between the Swiss cable car industry association with political forces and the Federal Office of Energy as well as a step-by-step concept for energy saving measures, the Zermatt Bergbahnen were able to return their focus to their core business.
The 2022/2023 winter season started on time with almost all of the slopes thanks to excellent work in the areas of snowmaking and slope preparation. Large numbers of international guests traveled to Zermatt, and the North American market in particular grew significantly compared to the previous year. This is mainly due to the cooperation with IKON-Pass, which is attracting more North American guests to Europe. The snow conditions were similar to the previous year, with little precipitation and fine weather prevailing until late winter. The intense snowfalls from March 2023 were particularly valuable for the glaciers, which received their protective layer for the summer.
In the 2022/2023 financial year, Zermatt Bergbahnen continued to push forward with its healthy investment policy and invested around CHF 44.5 million. The largest projects were the completion of the Matterhorn Alpine Crossing generation project as well as construction progress around the project of the new aerial tramway from Zermatt to Furi, which will begin operations in autumn 2023. All construction work was carried out with active environmental support in order to minimize interference with nature.
At the general meeting on September 22, 2023, due to the best operating result in the history of Zermatt Bergbahnen, it was decided to pay a dividend to the shareholders from the balance sheet profit and to carry the remaining amount forward to the invoice. The board members Franz Julen, Jean-Michel Cina, Hermann Biner, Romy Biner-Hauser, Christian Laesser, Sämi Perren and Patrick Z'Brun were re-elected, as was Franz Julen as Chairman of the Board.
Markus Hasler, CEO of Zermatt Bergbahnen, is very satisfied with the past financial year: “It's great to see that we are still on the road to success and, thanks to the clear strategy and the right decisions, can achieve absolutely top results in the important moments. However, the market situation remains uncertain as the conflict in Eastern Europe is having an impact on various business areas and supply chains. Nevertheless, I am convinced that the 2023/2024 financial year will also be a success thanks to the excellent work of all Zermatt Bergbahnen employees.”
The re-elected Chairman of the Board of Directors, Franz Julen, says: “The consistent implementation of our strategy shows that we are on the right track and that our guests are willing to pay the appropriate price, as long as the quality, service and experience are right. With our new product Matterhorn Alpine Crossing, we are strengthening this orientation and offering maximum comfort, an all-round view of the Matterhorn and a unique, international offer in an impressive natural and glacier backdrop, which delights our guests. But our investment and innovative strength, the focus on digitalization and sustainability in all aspects of the company will also be our strategic success factors in the future.'
