Schilthornbahn AG Reports Mixed Financials

Schilthornbahn AG looks back on a mixed annual balance sheet for 2020. The promising start to the year was suddenly interrupted by the COVID-19 pandemic in March 2020. The restaurants and shops in particular were hit hard due to the restrictive measures and the lack of guests from abroad.

The 2020 financial year for Schilthornbahn AG got off to a promising start. A return to the record values ​​of winter 2007/2008 was hoped and expected for the winter season 2019/2020. The number of excursion guests was also promising. These expectations were suddenly curbed in mid-March with the Federal Council's decision on a lockdown due to the global COVID-19 pandemic. The company had to close all facilities and operations immediately and for a full three months. The reopening of the railways and restaurants took place on June 6, 2020 under unfavorable weather conditions.

Compared to the previous year, the frequencies on all systems fell by 50 percent. Good weather phases and various successful promotions were able to inspire a large number of Swiss guests for the Schilthorn, especially in July and August. Overall, however, the figures show that the Swiss cannot compensate for the lack of foreign guests in the short term. The weather-related fluctuations in visitor numbers are too great. Accordingly, the autumn holidays also fell victim to the predominantly bad weather. Only in November did the beautiful and warm autumn weather ensure that the number of guests increased again. Overall, the Mürren-Allmendhubel funicular is less affected by the decline, with a frequency drop of around 20 percent.

The catering businesses have suffered particularly badly from the lockdown and the strict corona measures. The yield fell by around 65 percent compared to the previous year. Thanks to investments in Plexiglas partition walls and a comprehensive protection concept, the 360 ​​° Piz Gloria restaurant was initially able to serve almost 250 guests (normal operation: 350 guests). The tightening of the measures with the limitation of the maximum number of guests to 100 and later to 50 guests, however, led to severe losses. The strict restrictions massively limited the potential of visitors to the Schilthorn, especially in autumn. It became clear that Swiss guests definitely want to combine a visit to the Schilthorn with a meal in the revolving restaurant. Otherwise the visit will be postponed to a later date.

During the lockdown in 2020, the Hotel Alpenruh in Mürren had to close. The previous year's figures were maintained in the remaining nine months of the year. The central location right next to the Mürren station turned out to be an important advantage.

After the lockdown, the Hotel Blumental, newly acquired on December 1, 2019, was only put into operation as a subsidiary of the Hotel Alpenruh without its own kitchen. The hotel rooms could be used to capacity during the summer holidays.

Massive losses in the Merchandising & Shops division

The Merchandising & Shops division was also hit with full force. The lockdown and the complete absence of international guests led to a massive drop in sales of around 45 percent. The shop's turnover is just under 1.2 million francs, which means a fall back into 2014.

Outlook for 2021: General Assembly 

• The general assembly of Schilthornbahn AG will take place on Friday, June 18, 2021 at 3 p.m. in the multi-purpose hall of the Alpine Sports Center Mürren.
• According to the Federal Tax Administration, the tax value of the Schilthornbahn share for the 2020 tax year is 1,600 francs (previous year: 1,980 francs).
• The rail project for the new SCHILTHORNBAHN 20XX is in the approval process on the home straight. All objections were withdrawn. The Schilthornbahn expects both the approval of the building regulations by the canton of Bern and the planning approval by the Federal Office of Transport in early summer 2021. The start of construction will depend on the duration and cumulative impact of the COVID-19 pandemic.