Ad hoc announcement pursuant to Art. 53 LR

Jungfrau Railway Group - Back on track with a profit of CHF 44.4 million - Seite 2

All interest-bearing bank loans amortised

The high cash flow enabled Jungfraubahn Holding AG to fully amortise all interest-bearing bank loans, with the exception of a bank loan to finance rolling stock for the Lauterbrunnen-Mürren Mountain Railway. In addition, the liquid assets increased by CHF 23.5 million to CHF 41.3 million. With an equity ratio of 76% and equity of CHF 640 million, the balance sheet is rock solid – and this after two years of pandemic and two years after the commissioning of the V-Cableway project, the largest investment project in the history of Jungfrau Railways.

The pleasing results show that the Jungfrau Railway Group has quickly found its way back to regular operations after the pandemic. This becomes particularly clear when the 2022 results are compared with 2019, the last year before the pandemic. Transport income in 2022, for example, was only 14% or CHF 22.6 million below the 2019 level. The cost-saving measures taken during the pandemic also had a positive effect in 2022. Operating expenses were the same as in 2019, although with the opening of the Eiger Express, the terminal and multi-storey car park in Grindelwald Grund, new Top of Europe shops and additional catering establishments, the Jungfrau Railway Group's business activities have been significantly expanded since then.

Jungfraujoch – Top of Europe

The business success of Jungfraujoch - Top of Europe, the most important segment, depends directly on the number of guests. After the two pandemic years, demand from intercontinental markets remained modest in the first quarter of 2022. It began to recover bit by bit from the second quarter onwards. In December 2022, for the first time, the same number of guests visited the Jungfraujoch - Top of Europe as before the crisis. A total of about 625,000 visitors were welcomed in the reporting year. This is still a good 40% less than before the crisis.

The trend in the second half of 2022 gives management confidence for the future. The excursion to the Jungfraujoch - Top of Europe has become even more attractive thanks to the new connection with the Eiger Express. The feedback given by guests from all markets impressively confirms this. The Jungfraujoch – Top of Europe segment achieved a turnover of CHF 128.2 million and an EBITDA of CHF 47.3 million.