Brunni Bahnen Engelberg Turns A Profit Despite Mixed Winter

Brunni-Bahnen Engelberg AG closes the 2022/23 financial year with a positive result. This is primarily due to the excellent summer of 2022, while the lack of snow in the winter led to losses in rail operations and gastronomy. Overall, those responsible are satisfied with the result.

The summer business started in May 2022 with days with high sales. The high demand from groups and banquets in the Ristis mountain restaurant has contributed to this. The persistently hot temperatures in July and August also drew guests to the mountains. "Interest in outdoor activities has increased again, which of course makes us happy as a mountain railway," says Managing Director Roman Barmettler. Accordingly, only Mondays and Tuesdays were used for inspection work in November. The guests were able to enjoy numerous beautiful autumn days in the Brunni area.

Skiing operation despite little snow

The 2022/2023 winter season was more challenging. We had to wait a long time for the first snow and the large masses of snow fell out completely. On the Klostermatte, skiing could only be maintained up to tower three and on narrow slopes. "Every day, our employees worked hard to ensure that skiing was possible at all," explains Roman Barmettler. In the meantime, the summer offer has been ramped up with the Globi alpine playground and the summer toboggan run.

The difficult winter season is also reflected in the figures. The high demand from the ski schools ensured a certain basic capacity utilization, but first-time entries (skier days) fell sharply compared to the previous year. With 95,810 entries, the value was 18.2% lower than in the previous year.

The mountain gastronomy is convincing

Last winter also had an impact on gastronomy. The OX family restaurant on the Klostermatte was particularly affected, with a drop in sales of 17%. The total turnover of all catering establishments amounts to TCHF 2'415, which is slightly lower than in an average year. Nevertheless, Roman Barmettler draws a positive balance: "The gastronomy on the mountain has made a name for itself thanks to its high quality." The Brunni railways are experiencing strong demand from groups and banquets.

Average Fiscal Year

The Brunni railways counted 312 operating days in the past financial year. A total of around 230,000 guests visited the Brunni and the Klostermatte. This value is 2.6% below the previous year. The total income from transport and gastronomy fell by 7.2% to TCHF 6,992 compared to the previous year, which had strong sales. The EBITDA makes up 22% of the income and amounts to TCHF 1'569. After depreciation of TCHF 1'333, the Brunni Bahnen present a profit of CHF 151'247. Those responsible are satisfied with the result: "After the difficult winter, we did not expect such a result," said the managing director.

Thanks to the stable cash and cash equivalents situation, long-term liabilities were reduced by TCHF 515. This measure relieves the operating account at the level of financial expenses in the long term, as interest on capital is rising in the current environment. The level of self-financing improves from 65% to 69%. The Brunni Bahnen have invested TCHF 390 in projects and replacement buildings.

Due to the positive development for the 2022/2023 financial year, the Board of Directors will propose a tax-free repayment of the capital contribution reserves in cash in the amount of CHF 25 per share (equivalent to a dividend of 10% of the nominal value) to the Annual General Meeting.

The general assembly of Brunni-Bahnen Engelberg AG will take place on October 31, 2023 in the Kursaal Engelberg.