Arosa Bergbahnen AG Releases Interim Balance Sheet For The 2023/2024 Financial Year

Arosa Bergbahnen AG provides information about the first interim results as of March 31, 2024 for the current 2023/2024 financial year. As in the previous two financial years, there are once again top results in the anniversary year of the ski area connection. Since the merger of the two ski areas Arosa and Lenzerheide on January 18, 2014, the qualitative development of the range of services on both sides of the mountain has been continuously implemented. Arosa and Lenzerheide share the largest contiguous ski area in Graubünden. The two traditional winter sports resorts with their own character and different strengths and positioning impress with a strong, shared product on the mountain, which perfectly sums up the “Two hearts, one ski area” campaign.

Lorenzo Schmid, Chairman of the Board of Directors, explains the positive interim result as follows: "All business areas contribute to this sustained robust development. The increase in traffic revenue is significant, 94% of which comes from the main winter business. Mountain catering increased sales compared to Last year's peak was another 4.8%. This excellent result is achieved, among other things, with the new KuhBar, the well-known après-ski bar near the Tschuggenhütte." The guests welcomed the event restaurant, which opened on December 2nd, 2023, with enthusiasm. Lorenzo Schmid is extremely satisfied. The accommodation company Mountain Lodge, which targets young families, groups and school camps, has a consistently high level of occupancy and also achieved record sales.

Lorenzo Schmid estimates the expected business result as of April 30, 2024 as follows: “According to our own forecast calculations, we will realize total sales of around CHF 35 million, more than ever before in the history of Arosa Bergbahnen AG. In return, higher costs are incurred for providing the service. Personnel expenses have increased due to wage adjustments and the comprehensive range of services for 10 ½ months of operation. When it comes to material costs, the generally noticeable price increases in maintenance and energy are significant. Nevertheless, an outstanding business result can once again be expected at EBITDA level.” The final results of the annual financial statements with the detailed annual report will be published together with the invitation to the general meeting at the beginning of September 2024.

Outlook for the 2024/2025 financial year

“The healthy financial situation enables Arosa Bergbahnen AG to actively continue the performance development on the mountain,” says managing director Philipp Holenstein confidently with a view to the new 2024/2025 financial year. “We will be investing CHF 8 million again in the next few months. The main investment projects are as follows.”:

• New control system for the Carmenna chairlift (investment CHF 1.7 million)
• Terrain/slope corrections and replacement of snowmaking systems on Tomeli (investment CHF 1.5 million)
• Terrain/piste correction at Carmenna mountain station with replacement snowmaking system (investment TCHF 400)
• Avalanche protection on Hörnli/Plattenhorn with explosive masts, 2nd stage (investment TCHF 670)
• Replacement procurement of two snow groomers (investment CHF 1.0 million)
  Photovoltaic systems on company-owned properties/buildings (investment TCHF 250)

The company is assuming solid sales development in its multi-year planning. “This will enable us to prepare ourselves for the major investment that is being planned in the Hörnli area,” says Philipp Holenstein. The Board of Directors has voted to replace the 6-seater gondola lift from 1986 and the 4-seater chairlift from 1994 with a new, modern 10-seater gondola lift on the previous route and a new 6-seater chairlift running in parallel. The construction windows are expected to be in the summer months of 2027 and 2028.

On the weekends of 25/26. May and from 1st/2nd In June 2024, Arosa will start the summer season with a pre-opening. The LAW 1st section and the Bärenland as well as the Brüggerstuba will be open. The official 2024 summer season starts on Saturday, June 8, 2024 with the start of continuous rail operations on the Weisshorn and the other offerings.

Further information on the 2023/2024 financial year with the final figures will be sent to shareholders and the media by separate mail at the beginning of September 2024. The general meeting will take place physically on Saturday, September 28, 2024 at 2:30 p.m. in the Arosa sports and congress center.