General Assembly Niesenbahn AG: Social Dimension Of Sustainability Crucial

The General Assembly on May 10, 2023 followed the proposals of the Board of Directors of NIESENBAHN AG. The President of the Board of Directors, Dr. Daniel Fischer the best result in the company's 114-year history. In assessing the situation, he focused on the 10-year average results. Key topics such as the social dimension as a success factor and the path to energy self-sufficiency received special mention.

Chairman of the Board of Directors Dr. Daniel Fischer presented the 447 shareholders and guests with a total turnover of CHF 6,137,020 (previous year: CHF 4,919,580), which generated CHF 3.3 million in railway operations and CHF 2.8 million in the Berghaus Niesen Kulm became. 93,842 guests visited the Niesen in the first year after "Corona". This is 27.8% more than in the previous year. The willingness of guests to spend is striking: while a guest spent an average of 54 francs in the record year 2016, it was over 65 francs in the year under review; similar to last year. The EBITDA as earnings before interest, taxes, depreciation and amortization was CHF 1,594,406 or 26 percent in the year under review (previous year: 15 percent).

Best result in history
This is the best numerical result in the 114-year history of NIESENBAHN AG. dr Daniel Fischer expressly thanked the employees for their good work. However, he also states that the Niesenbahn is dependent on increased profitability and cash flows after investing in the Berghaus and after replacing the drives and controls of the two funiculars.

New Board of Directors with Alexandra Invernizzi, Hotelière of the Year 2022
Philipp Näpflin is leaving the Board of Directors after eight years. During his term of office, the management was replaced in 2016, the Berghaus was renovated in 2018/2019 and the lease of the Berghaus Elsigenalp. Alexandra Invernizzi follows Philipp Näpflin. Together with her husband Reto Invernizzi, she has been running the Hotel Landgasthof Kemmeriboden-Bad since 2012. The passionate hosts were awarded "Hotelier of the Year" in 2022. The new board member brings "gastronomy, seminar and hotel competence" to the board of directors, which is valuable in view of the gastronomic challenges.

No dividend in 2022 either
In the statutory agenda items, the shareholders followed the proposals of the Board of Directors: For the third time in a row, no dividend will be paid out. This is due to the large investment in the drives and controls. Chairman of the Board of Directors Dr. Daniel Fischer, the board members Martin Andres (Vice President), Marc Allenbach and Hans Martin Hadorn as well as the auditors of Kaenel Treuhand were re-elected for a further year. The board of directors and management were granted discharge.

The social dimension is the big lever
For the Niesenbahn, "three-dimensional sustainability" means "careful" in relation to guests and employees, "successful" in relation to profitability and financial success, "foresighted" in relation to the environment and climate protection. This attitude is a corporate duty and basic attitude. After the record economic result and the progress made in reducing CO2 emissions, it is obvious that the social dimension must be on an equal footing with the other two. This could become an interesting competitive advantage, because economic and environmental successes are not possible without social sustainability. Therefore, the Niesenbahn implements numerous measures in employer branding,

New drives and controls for concession renewal
In order to meet the latest technical requirements and with regard to the license renewal in 2027, the drives and controls of the two funiculars will be renewed in winter 2022/23 and 2023/24. These date from 1993 (first section) and 1997 (second section) and are not identical. As a result, the two sections function differently and the training and maintenance costs are correspondingly high. With the total renewal of CHF 4 million within three years, identical drives and controls will be installed, which will eliminate these disadvantages. NIESENBAHN AG is financing the investment of CHF 4 million from liquidity and bank loans. The first stage has been completed and operations began at the start of the season.

Consistently towards energy independence
The Board of Directors commissioned an energy concept to determine further potential for energy savings and energy production, to increase the company's independence from external suppliers and to reduce energy costs. dr Daniel Fischer says: “We are on the way to energy self-sufficiency. The aim is independence from energy purchases and a climate-neutral energy supply.» The first steps were taken with the investments in the Berghaus and in the second section of the track. Production sites for PV systems are currently being examined and the Board of Directors will make decisions on this in June 2023.

Berghaus Elsigenalp: In the first year with a small minus
On November 1, 2021, NIESENBAHN AG leased the Berghaus Elsigenalp from ELSIGENALPBAHNEN AG (EBAG). This gave rise to a new collaboration from “summit to summit” in the Kandertal. The two companies are pursuing individual goals: NIESENBAHN AG can now also offer year-round positions in gastronomy, for ELSIGENALPBAHNEN AG the Berghaus is of central importance for quality and customer loyalty in the ski area. The first year was characterized by a shortage of skilled workers and restrictive corona conditions with the "Omicron wave" until the end of January. After a slow start January and February saw good results. At the end of the summer, the balance was negative at around CHF 30,000.

"Phase II" on Elsigen in preparation
The Niesenbahn is convinced that after the conversion by Elsigenalpbahnen AG (EBAG) there will be new signs from the winter of 2023/24 and that positive contribution margins are realistic in the medium term. The balance sheet is already successful in relation to the year-round positions in the catering trade and accordingly to the security for the employees, including securing valuable know-how. NIESENBAHN AG and ELSIGENALPBAHNEN AG are currently working on the lease agreement for phase II from November 2023.