Titlis Back On The Road To Success

There is a spirit of optimism at Bergbahnen Engelberg-Trübsee-Titlis AG - with the construction project on the Titlis, a new brand identity and very pleasing developments in the 2022/23 financial year, the company is ready for the future. 1,074,410 guests visited the Titlis, an increase of 30% compared to the previous year, and the best result of all time was achieved in the individual traveler segment. Consolidated operating income increased by 35% to CHF 72.2 million, and net profit amounted to CHF 10.3 million.

The start of the 22/23 financial year was difficult for Bergbahnen Engelberg-Trübsee-Titlis AG (BET), as the winter was characterized by a lack of precipitation. With 390,412 snow sports guests, BET had to accept a decline of 7% in this segment compared to the previous year. However, after the challenging winter, the number of visitors developed very positively over the course of the year - the BET was able to transport 568,070 guests in the winter half of the year and 506,340 in the summer half of the year. With 1,074,410 visitors, they were able to end the financial year 30% above the previous year's result and slowly get back to the numbers before the Corona pandemic (record year 2018/19 with 1,238,899 first-time visitors).

Strong increase in individual and group travelers

The customer segment of individual travelers developed particularly well in the 2022/23 financial year, achieving by far the best result in history with 376,275 guests (previously 2018/19 with 308,018 visitors). There is also a clear upward trend among international travel groups, which fell to an all-time low of 3,754 people in the 2020/21 financial year, which was marked by Corona. The number increased by 163% from 117,205 visitors in the 2021/22 financial year to 307,723 guests in the past one.

Profit CHF 10.3 million with an EBITDA of CHF 23.2 million.

BET's traffic revenue increased by 40% to CHF 46.7 million compared to the previous year. Due to higher visitor numbers, operating expenses (goods, personnel, operations, depreciation and finance) also rose from CHF 36.9 million to CHF 48.9 million. This increase is in primarily due to personnel expenses, which increased from CHF 20.1 million to CHF 25.9 million. A positive EBITDA (operating result before interest, taxes, depreciation and amortization) of CHF 23.2 million was generated over the entire 2022/23 financial year - in 2021/22 this was CHF 16.6 million. The net profit increased from CHF 3.3 million CHF 10.3 million.

Successful start to the new financial year

The snowfalls at the beginning of December 2023 and magically snowy landscapes down to low altitudes gave BET excellent frequencies over the beautiful Christmas holidays and thus an excellent start to the winter season. The prospects for the coming months are promising, as BET hotels also have high booking numbers. In addition, more and more international guests and groups are visiting Titlis again, even in the cold season.

The 2022/23 annual report of Bergbahnen Engelberg-Trübsee-Titlis AG will be published on the website at www.titlis.ch/investorrelations on January 30, 2024 .