26 September 2022

Arosa Bergbahnen AG celebrates top result and expands board of directors

Old News

Arosa Bergbahnen AG celebrates top result and expands board of directors

Last Saturday afternoon, the annual general meeting of Arosa Bergbahnen AG took place in a relaxed atmosphere. Lorenzo Schmid, Chairman of the Board of Directors of ABB for 30 years, presented the best business results in the company's 92-year history to the assembled shareholders. They approved the proposed dividend of 4%. Three new members were elected to the Board of Directors.

The Arosa Bergbahnen have reason to rejoice, as they, like many other competitors, look back on an extremely successful business year 2021/22. «Despite SARS-CoV-2, favourable constellations dominated the winter half-year, which ultimately gave us a perfect business year with a top result that I myself would not have thought possible,» Lorenzo Schmid, Chairman of the Board of Directors, began his speech at the ordinary general meeting. The result was right to be seen as an outlier on the upside. «Euphoric praise is out of place, let's keep our feet on the ground and remain realistic,» Lorenzo Schmid warned with a view to the new challenges ahead.

With a turnover of CHF 33.034 million, of which CHF 20.131 million came from transport revenue (summer and winter) and CHF 8.756 million from gastronomy, the best overall performance in the company's history was achieved. Together with Lenzerheide Bergbahnen AG (LBB AG), winter admissions increased to 1.428 million. The annual profit amounts to CHF 1.250 million. EBITDA, the most important earnings indicator in the mountain railway industry, also reached a record level of CHF 12.058 million in the past financial year. The EBITDA margin of 36.5% (previous year: 28.3%) is an excellent value.

After this outstanding business year, the Board of Directors of the mountain railway company activated the dividend policy and proposed a distribution of CHF 4.00 per share (total TCHF 625) to the Annual General Meeting. In this way, the Board of Directors consciously wants to send a positive signal that an investment in the company and a participation in a possible next capital increase can also be rewarded with a return. The shareholders followed the proposal with unanimous approval.

Performance development on the mountain
«After last year's investment pause, performance development on the mountain is picking up again with targeted projects,» says Philipp Holenstein, managing director of Arosa Bergbahnen AG, with an outlook on the 2022/2023 financial year that has just started, in which a total of CHF 6.64 million has been earmarked for new projects. «The correction of the terrain with the replacement of the old snowmaking system on piste 9a between the Carmenna middle station and LAW Mitte for CHF 3.4 million makes up the main part. The construction work will soon be completed,» says the mountain railway boss. In mountain gastronomy, Arosa Bergbahnen invested in a new terrace with food container at the Brüggerstube for a continuous take-away offer in summer and winter and in improved room acoustics at the 360° panorama restaurant Weisshorngipfel. The obligatory overhaul of the cable car facilities alone will cost CHF 500,000, and the replacement of a snow groomer is on the shopping list at CHF 600,000, says Holenstein.

Expansion of the Board of Directors
Chairman of the Board of Directors and celebrator Lorenzo Schmid, who has been successfully at the helm of the mountain railway company for 30 years, was brilliantly confirmed for another three-year term of office. The previous members of the Board of Directors were also re-elected: Adrian Altmann, Peter Bircher, Christian Laesser, Markus Lütscher, Ludwig Waidacher, Werner C. Weber. The 10-member Board of Directors is completed by three newly elected members. «I am very pleased that with Dr. Götz Bechtolsheimer, Barbara Janom Steiner and Pascal Jenny we have been able to win three proven personalities for the Board of Directors,» said President Lorenzo Schmid.

Mayor Andreas Brunold, who had been on the Board of Directors since 2014 as a representative of the civic community of Chur, was dismissed from the Board. Lorenzo Schmid, Chairman of the Board of Directors, praised the commitment of Andreas Brunold, who, as the representative of the largest landowners in the ski area, supported numerous projects and helped them to be realised. The new representation of the civic community of Chur on the board of directors of the mountain railway company will then be elected in a year's time.

The detailed annual report for the year 2021/22 is available for download on the website.