Unlike in the previous year, the start to the 2017/2018 financial year was marked by plenty of sunshine and warm temperatures, which allowed us to welcome more guests, which is why the number of admissions in May and June was significantly higher than in the previous year. The high season months of July and August remained at the high level of the previous year. The rainy September was compensated by a golden October. Finally, we exceeded last year’s summer by 7,083 guests with 104,588 first entries. The significantly increased number of bikers as well as the additional offer with the Grauberg gondola lift, which is appreciated by guests, contributed to this pleasing result.
Our guests benefited from fantastic conditions! Mrs. Holle was very kind to us about the whole winter 2017/18. Our business started on 4th November with lots of snow. The change from weekend to daily operation at the beginning of December also went according to plan. From December to the end of the season, all systems could be operated throughout. This is also reflected in the frequencies. The first admissions in every single winter month are above those of the previous year as well as the average of the last 5 years. With a total of 845,382 initial entries, we exceeded the previous year by 8.2% and the multi-year average by 5.9%. Remember: Compared to the record winter of 2002/03, we are still more than 160,000 first-time entries short.
Although the number of first-time entries increased by 71,408 guests or 8.1% year-on-year, net sales rose by only CHF 1.0 million or 1.2%. Besides the missing turnover from the leased mountain restaurants “Tegia Larnags” and “Tegia Curnius” to the newly founded Larnags AG, the missing turnover / profit from the sale of the apartments in the rocksresort is the main reason for this.
At CHF 21.1 million, cash flow was CHF 1.1 million or 5.0% below the previous year’s level (CHF 22.2 million) but CHF 0.4 million above the average of the last 5 years and is positive in relation to sales (24.5%) and total capital (10.8%): a gratifying result!
Gross investments in 2017/18 amounted to CHF 30.0 million, the largest investments being the two renovation projects “Riders Hotel” in the valley and “GALAAXY” on Crap Sogn Gion and the start of the third stage in the rocksresort with 21 new apartments.
Due to the high cash flow, interest-bearing liabilities increased by only CHF 3.3 million to CHF 95.4 million despite major investments. The equity ratio is now 36.0% (previous year 36.7%) and the debt factor is 5.9 years.
With a total of 949,970 guest entries, the result is 8.1% or 71,408 initial admissions significantly higher than in fiscal 2016/17 (878,562). We exceeded the average of the last 5 years by 6.3%. The year-on-year increase is mainly due to the range of season and annual tickets as well as single tickets and ½ day tickets.