Jungfraubahn Holding Ag · SIX:JFN
Jungfraubahn — Baader Swiss Equities Conference 2024
36 slides from Jungfraubahn's conference presentation, Jul 14, 2024
Slide 1: Jungfraubahn Holding AG
Jungfraubahn Holding AG Baader Swiss Equities Conference 2024 jungfrau.ch
Slide 2: Agenda
Agenda Company Presentation Jungfraubahn Holding AG Business model Strategy Interim results 2023 Visitor numbers FY 2023 Sustainability Outlook / Calendar Q&A 5
Slide 3: Jungfrau Railways – est. 1912
Jungfrau Railways – est. 1912 A chapter in Swiss railway history 4 concession requests Request of Guyer-Zeller 12/1893 21.12.1894 Decision Fed. Council 27.07.1896 Groundbreaking 1898 Opening Eigergletscher 1899 Decease of Guyer-Zeller 1903 Station Eigerwand 1905 Station Eismeer 1912 Opening Jungfrau
Slide 4: Jungfraujoch-Top of Europe
Jungfraujoch-Top of Europe Development of the number of visitors since 1912 Opening 1912 1'100'000 Long-lasting crisis until after 1'000'000 World War 2 900'000 1952 > 100’000 for the first time 800'000 1967 > 200’000 for the first time 700'000 1997 > 500’000 for the first time 600'000 2015 > 1 mill
Slide 5: Business model
Business model Jungfraubahn Group jungfrau.ch 8
Slide 6: Business Model: Core Business segments
Business Model Core Business: 3 segments Jungfraujoch–Top of Europe Winter sports Adventure mountains Europe’s Highest railway station Jungfrau Ski Region #4 in SUI Clarly positioned destinations UNESCO World Heritage Int. Lauberhornrennen Wengen Cross selling with Jungfraujoch 1 million visitors p.
Slide 7: Related business areas (1)
Business model Related business areas (1) Power plant Lütschental Top of Europe Shops Restaurants Running water power plant Souvenirshops Operating restaurants Annual production of 60 GWh Interlaken, Terminal, First, Renting out of restaurants Regional distribution network Jungfraujoch Presence at a
Slide 8: Related business areas (2)
Business model Related business areas (2) Parking Commercial renting Management services 2 car parks (capacity of 1’000 ea) Terminal Grindelwald Berner Oberland-Bahnen AG Outdoor parkings Shops Jungfraujoch Operating Gondola GGM Busparking Rental apartments in stations Marketing- & IT-Services Car p
Slide 9: Strategy
Strategy Jungfraubahn Group jungfrau.ch 12
Slide 10: Our vision
Our vision Jungfraubahn Group As Switzerland's leading tourism company and largest mountain railway group, the Jungfrau Railway Group is developing into an integrated leisure and service company. In doing so, Jungfrau Railways relies on its entrepreneurial tradition of over 120 years, the founde
Slide 11: Strategy
Strategy Jungfraubahn Group • Strengthening the Jungfraujoch - Top of Europe as the main source of revenue • Branding "Jungfrau - Top of Europe“ • Increase revenue through higher proportion of FIT (individual travellers) • «12 months high season» • internal growth through better utilisation of the m
Slide 12: Mid-season capacity utilisation
Strategy Mid-season capacity utilisation 160'000 Goal: More guests in weaker 1967 months 140'000 2002 Targeting source markets with 2012 120'000 peak travel periods in our low/mid 2018 Visitors per month season 100'000 80'000 60'000 40'000 20'000 0 15
Slide 13: Sales representatives
Strategy Sales representatives Tool: Worldwide network of agents 16
Slide 14: V-Cableway
V-Cableway Largest renovation project in history 8 elements - 3 partners Investment of CHF 350 million 2½ years of construction Opening 2020 Impact: 45’ travel time savings 30% higher capacity / hour Eiger-Express – most modern 3S- Gondola in the world Direct link to public transportation Unique ter
Slide 15: Financial targets Jungfraubahn Group
Strategy Financial targets Jungfraubahn Group Return on sales ≥ 18% EBITDA margin ≥ 40% Payout-Ratio 35 bis 60% Cum. Free Cashflow 2014-2023 ≥ 150 Mio. Interest-bearing debt ≤ 10% Financial targets under review 18
Slide 16: Strategic project «First view» Jungfraujoch
Strategy Strategic project «First view» Jungfraujoch Situation today: Top modern infrastructure at «Grindelwald Terminal» and «Eigergletscher» Jungfraujoch getting on in years - opening in 1987 Objectives: Wow-effect upon arrival Qualitative upgrading Jungfraujoch Create more space 19
Slide 17: Strategic project «New Firstbahn»
Strategy Strategic project «New Firstbahn» Situation today: 2nd generation concession expires in 2034 Strong demand – summer Suboptimal access to valley station Outdated mountain lodge Objectives: Complete renewal of gondola and mountain lodge Optimized routing incl. connection to public transport a
Slide 18: Interim Results 2023
Interim Results 2023 Jungfraubahn Group jungfrau.ch 21
Slide 19: Transport revenue 1st semester
Transport revenue 1st semester Jungfraubahn group, per segment in TCHF 2023 2022 change % Jungfraujoch-Top of Europe: Further increase in average Jungfraujoch - Top of Europe 55'680 26'573 109.5% revenue per guest due to shift Adventure mountains 13'075 8'803 48.5% towards FIT Winter sports 25'534 2
Slide 20: Key figures
Key figures Jungfraubahn Group, 1. semester in TCHF 2023 2022 change Significant year-on-year increases in sales and margins. It Transport revenues 94'289 62'847 50.0% should be noted that Q1/2022 Operating income 132'493 98'109 35.0% was still heavily impacted by COVID - particularly at the Operati
Slide 21: Visitor numbers FY 2023
Visitor numbers FY 2023 Jungfraubahn Group jungfrau.ch 24
Slide 22: Jungfraujoch-Top of Europe
Jungfraujoch-Top of Europe Visitors 2014-2023 (in 1’000) 1200 1’007’000 visitors / +61.1% -4.6% compared to 2019 1000 1'042 1'067 1'056 4th best result ever 1'007 1'007 917 Increase from month to month 800 866 Strong FIT business 600 625 Post-pandemic catch-up effect for guests from Southeast Asia,
Slide 23: Adventure mountains
Adventure mountains Visitors (in 1’000) 2'500 In total above pre-pandemic level Harderbahn (HB), Ascents & descents compared to previous year Firstbahn (FB), Ascents 2'000 825 BLM +23.8% Bergbahn Lauterbrunnen-Mürren (BLM), Ascents FB +27.3% HB +29.4% 608 1'500 638 compared to five-year average 542
Slide 24: Eiger Express
Eiger Express Total passengers (in 1’000) +38.8% compared to previous 2'000 2'004 year, +120.3% compared to 2021 1'800 1'600 2020: Grand opening on December 5 1'400 1'443 1'200 1'000 800 910 600 400 200 0 104 2020 2021 2022 2023 27
Slide 25: Winter sports
Winter sports Skier Visits Jungfrau Ski Region (in 1’000, per season) 250 207,800 skier visits since the start of the season (+28.1% compared to the previous year) 200 Best saison opening ever Market share gains thanks to the 150 V-Cableway November/December normally 208 account for 15% of the entir
Slide 26: Sustainability
Sustainability Jungfraubahn Group jungfrau.ch 29
Slide 27: Sustainability
Sustainability Update 2. Term 2023 Wengen Shuttle: New rolling stock exclusively for guests of Wengen. Operating since December 10, 2023. Certification: Jungfrau Railways are certified following ISO 14001 standard. 30
Slide 28: Sustainability
Sustainability Update 2. Term 2023 Park & Ride Matten: On December 10, the Bernese Oberland Railway opened the Matten station with a new P+R facility. The aim is to shift leisure traffic further from road to rail. Our tickets will be adjusted accordingly. 31
Slide 29: Sustainability Outlook 2024
Sustainability Outlook 2024 Alpine solar power plant: A plant with a production capacity of 12 GWh of electricity is planned on 12 hectares at “Alp Hintisberg”. The local municipality has given its approval. 3-6 projects are to be realized in the Canton of Berne. The aim is for commissioning in 2025
Slide 30: Outlook
Outlook Jungfraubahn Group jungfrau.ch 33
Slide 31: Outlook 2024
Outlook 2024 Lauterbrunnen-Mürren: Completion of the long-term renovation project with the commissioning of the new trains in June 2024 Fare adjustments: No price adjustments in winter sports Same price increases in public transport as throughout Switzerland (3.7% on average) Differentiated adjustme
Slide 32: Outlook 2024
Outlook 2024 Winter 2023/2024: KOF is forecasting an increase in overnight stays of 1.6% compared with the previous season. Switzerland Tourism (ST) - indicative sector survey +3% BAK Economics – increase of +0.4% Summer 2024: KOF Swiss Economic Institute Domestic guests remain on a high level – slo
Slide 33: KOF Tourism Forecast
Outlook KOF Tourism Forecast – KOF Swiss Economic Institute Forecast 2024: positive outlook for winter season 23/24, summer flatlining trend – positive trend in long-haul travel from Asia 36
Slide 34: Calendar
Calendar Investor Relations 11.04.2024 Full Year Results 2023 17.05.2024 AGM, Casino Kursaal Interlaken 30.08.2024 Interim Results 2024 37
Slide 35: Q&A
Q&A Presentation Jungfraubahn Holding AG jungfrau.ch 38
Slide 36: Contact
Contact Jungfraubahn Holding AG Investor Relations: Christoph Seiler, CFO, christoph.seiler@jungfrau.ch Jungfraubahn Holding AG Harderstrasse 14 CH-3800 Interlaken +41 33 828 71 11 jungfrau.ch
Jungfraubahn Holding — Baader Swiss Equities Conference 2024 on 6ix