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General meeting 2010 Zermatt Bergbahnen AG

Zermatt, 24 September 2010
Zermatt Bergbahnen AG – defying the crisis

Zermatt Bergbahnen AG held its 9th annual general meeting in Zermatt today. The company can look back on a successful year – despite the economic and euro crisis!
Successful summer – good winter!
Another record result in summer and – despite the difficult economic climate – a good performance in winter helped make the 2009/2010 business year a successful one. EBITDA of CHF 31.3 million was generated on operating income of CHF 65.1 million and expenditure of CHF 33.8 million; this EBITDA was equivalent to 48% of operating income. Cash flow in excess of CHF 25 million, or 38.4% of operating income, represented another very good result. The annual general meeting approved the Board of Directors’ proposal to distribute a dividend of 7%.
Marketing and sales activities bearing fruit
Following continuous improvements to the installations and ski stations over the last few years, it was the turn of marketing and sales activities to be expanded and strengthened. The broad international orientation of the sales activities is beginning to bear fruit and the summer season closed with a record result, despite the euro crisis. The broad-based nature of the activities means a loss in one segment can be offset by success in another. This involves more intensive efforts – in terms of personnel and costs – but it avoids the risk concentration that is seen elsewhere.
Solar restaurant at Matterhorn glacier paradise a success
Two years on from the launch of the restaurant and shop at the Matterhorn glacier paradise – next to the highest cable-car station in Europe, 3,883 m above sea-level – it is impossible now to imagine the place without them. In fact, the restaurant is fully booked almost every day and widely acclaimed for its architecture and location. We continue to run weekly sightseeing tours for the media, professional bodies and foreign delegations. The decision to invest in the creation of a restaurant powered by its own self-sufficient solar system has clearly paid off. The national and international awards won by the building also honour all those involved in tackling such a project at this altitude.
After the solar installations on the restaurant building at Matterhorn glacier paradise and the garaging facilities at Trockener Steg, next in line is the base of the piste rescue team at Trockener Steg, which is to be equipped with a similar system this autumn. That will bring the total area of solar panelling on buildings operated by Zermatt Bergbahnen AG to 370 m2. At this altitude, the cells produce sustainable energy 70% more efficiently than in the lowlands. Zermatt Bergbahnen AG intends to continue investing in sustainable systems, using the most natural construction techniques available. Wherever possible, further buildings and new projects will also be equipped with solar panelling.
In addition to the investments in these building projects, we are continuing to improve and expand our facilities for families and biking enthusiasts. The aim is to expand the summer attractions and bring new visitor categories to Zermatt.
For further information and images, please contact:
Christen Baumann - CEO - Zermatt Bergbahnen AG
Phone  +41 (0)27 966 0101

Geschäftsbericht 2009 / 2010 (38 Seiten / 1.5MB)

Press release (pdf)

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