EQS-Adhoc Jungfraubahn Holding AG: In 2020, the Jungfrau Railway Group recorded a loss - yet a positive EBITDA was achieved
EQS Group-Ad-hoc: Jungfraubahn Holding AG / Key word(s): Annual Results
In 2020, the Jungfrau Railway Group recorded a loss - yet a positive EBITDA was achieved
For the first time in its history, the Jungfrau Railway Group suffered losses in 2020. Losses in the amount of CHF 9.7 million follow on from record profits in 2019 of CHF 53.3 million. On a positive note, despite everything in a year marred by Covid-19, positive EBITDA of CHF 22.3 million was achieved in 2020. The Board of Directors is proposing that, due to the current situation, no dividends should be distributed. The consequences of the coronavirus crisis are still more pronounced and enduring than previously anticipated and continue to be difficult to evaluate. It is to be expected that the 2021 result will again be heavily influenced by the coronavirus crisis.
With regard to liquidity and equity, the company has a solid foundation. Positive EBITDA of CHF 22.3 million will ensure operational liquidity. It is gratifying that this was achievable in an extraordinarily challenging environment with a historic, once-in-a-lifetime pandemic. Not only did Covid-19 cause an almost three-month long lockdown for the tourist trains and gondolas, it also completely took away the largest visitor segment from Asia after the outbreak of the pandemic in March 2020. The Jungfrau Railways were able to close this exceptional year with a highlight: the completion of the once-in-a-generation project V-Cableway.
In all, the Jungfrau Railway Group generated an operating income of CHF 125.7 million, representing a drop of CHF 97.6 million compared to the record year of 2019. The most important source of income - transport revenue - amounted to CHF 75.6 million, CHF 86.2 million below the 2019 revenue. With a drop of 65.6%, transport revenue from the most important segment, Jungfraujoch - Top of Europe, suffered particularly due to the collapse of the international travel business.