The beginning of the financial year 2016/2017 was marked by rainfall and cold temperatures. Thanks to the nice autumn weather, we had more entries at the end of the season than in the summer of 2015. These positive results were principally due to the significant increase of sales of mountain bike tickets, but also due to the additional offer with the Grauberg gondola . Last summer, overnight stays were 26 149, which is an increase of 16.5% compared to the previous year.
The Winter season 2016/2017 began with lots of snow in the first days of November. In December we were able to change the schedule from weekend to daily service. Unfortunately the snowfall did not occur in the entire Alpine area. In the beginning of the year 2017 the climate conditions changed and we received a good amount of snow. At the end of the Winter season, from mid-March until mid-April, the temperatures were relatively high, but we had more first – entries compared to the previous year. The overnight stays could not be increased, but we sold the last rocksresort apartment in April 2017 – a great success story.
Although the first entries increased by 32 111 guests compared to the previous year, the net turnover decreased by CHF 3.5 million or 3.9%. The decrease is principally due to the reduced mandate with the Flims Laax Falera Management AG. The missing turnover from the golf restaurant Tello in Sagogn, the downsizing of the club in the Riders Palace and the lower profit from sales of flats in the rocksresort were further reasons for the decrease.
Cash flow was CHF 22.2 million, up CHF 4.7 million or 27.2% compared to the previous year (CHF 17.5 million) and up CHF 1.5 million compared to the average of the last 5 years. At 26.1% of gross turnover and at 11.8% of assets, Cash flow makes a significant contribution to a positive result.
Gross investments in 2016/17 were CHF 6.9 million, and principally related to the new ticket and parking system (Axess) and maintenance investments for the mountain railways. Thanks to the high Cash flow and the profit from sales of flats in the rocksresort interest-bearing liabilities at decreased by CHF 13.4 million to CHF 92.0 million. The equity ratio increased to 36.7% ( 32.8% in the previous year), the debt factor is at 5.3 years.
With a total of 878 562 first entries, this year’s result is slightly better than in the previous year, up 3. 8% or 32 111 first entries compared to 2015/16 (846 451). However, it is down 2.2% compared to the average of the last 5 years. The increase from the previous year results principally from sales of daily tickets as well as from sales of seasonal and annual tickets, slightly offset by a decrease in sales of multi day tickets.