Arosa Bergbahnen: 2022/2023 Financial Year Well Above Expectations
Arosa Bergbahnen AG closes the 2022/2023 financial year well above expectations and underlines its key role in the destination. At CHF 32.639 million, the total output of the mountain railway company followed on from the record sales of the previous year. Arosa Lenzerheide benefited from the snow-reliable location and high-performance technical snowmaking. The EBITDA of CHF 11.069 million is the second-best result in the company's history. The reported annual profit is CHF 1.170 million.
In the summer months, 149,000 guests visited the mountain railways. Significantly less than in the Corona years 2020 and 2021 imposed with travel restrictions, but in line with expectations. After the SARS-CoV-2 pandemic was safely survived, new uncertainties followed with the power shortage and the shortage of workers, which had to be overcome.
The low-rainfall period from October to December, which was dominated by strong temperature fluctuations, required the full concentration and commitment of the employees when setting up the snow sports area. The production program for the snow-making systems, which had been built up and worked well over the years, guaranteed uninterrupted snow sports operations from November 26, 2022 to April 16, 2023. And this with excellent slope conditions, although the natural amount of fresh snow by the end of March was only 55% of the long-term average.
The skilful investment activities of the last few years had an advantageous effect under these difficult conditions. This includes the piste correction 9a implemented in summer 2022 with the replacement of the snowmaking system between Carmenna Mitte and the Arosa Weisshorn middle station aerial tramway for CHF 3.6 million, which completely fulfilled the desired effect for snow sports enthusiasts right away. The positive consumer mood of the guests in the mountain restaurants and the high product and service quality, ensured by committed employees, also shaped this challenging, but ultimately successful winter
Second-best result in the company's history
The mountain railway company was able to practically equalize the peak turnover from the previous year and knew how to moderate the increase in costs. The considerable increase in mountain gastronomy and accommodation deserves a special mention, which overall increased by a further 2.6% compared to the record year. At the end of the financial year on April 30, the EBITDA was TCHF 11,069, the second-best result in the company's history. An impressive annual profit of TCHF 1,170 can still be presented to the general meeting even after extensive additional depreciation. Lorenzo Schmid, President of the Board of Directors, is accordingly satisfied with the past financial year: "The extremely pleasing business result underlines the strong positioning of Arosa Bergbahnen AG in a demanding market environment. The EBITDA ratio of 33, Regardless of the brisk investment activity, it is possible to reduce debt. “The company is solidly positioned with an equity ratio of 42%. However, we are still aware of the fact that the exogenous, non-controllable factors contribute significantly to success. Every new financial year starts again on square 1," sums up President Lorenzo Schmid. Regardless of the brisk investment activity, it is possible to reduce debt. “The company is solidly positioned with an equity ratio of 42%. However, we are still aware of the fact that the exogenous, non-controllable factors contribute significantly to success. Every new financial year starts again on square 1," sums up President Lorenzo Schmid.
Cheerful investment mood on the mountain
On June 5th, the construction of the new, modern and inviting KuhBar at the Tschuggenhütte at 1,991 m above sea level began. This replaces the provisional solution created in winter 2017/2018. The Arosa Bergbahnen are investing CHF 3.5 million in the new building. "The anticipation of the new KuhBar is growing. With this functional event venue in a prime location, we are setting new standards for a successful rounding off of a perfect day of skiing in Arosa Lenzerheide," says Philipp Holenstein, Managing Director of Arosa Bergbahnen AG. In the new 2023/2024 financial year, a total of CHF 8.1 million is earmarked for performance development on the mountain. “By replacing the old snow-making system on the Tschuggen Berg – Tschuggenhütte – Ried Tal section, the company is continuing on its way to gradually improving snow-making efficiency.
Further information on the mountain railway company can be found at the general assembly of Arosa Bergbahnen AG on September 30, 2023. The instructions for exercising voting rights will be sent to the shareholders in writing at the beginning of September with the invitation.
