Jungfraubahn (JFN) H1 2024 earnings summary

Executive summary

• Operating income reached CHF 141.8 million for H1 2024, up 7.0% year-over-year, with a period result of CHF 34.5 million, just below the prior year's record.

• Jungfraujoch and Experience Mountains segments saw strong guest numbers despite challenging weather; international visitors increased, though Chinese and Japanese numbers lagged.

• EBITDA was CHF 62.0 million, with a margin of 43.7%, slightly down from 47.6% in H1 2023 due to higher operating expenses and wage costs.

Financial highlights

• Transportation revenues rose 5.1% year-over-year to CHF 99.1 million; total operating income increased to CHF 141.8 million.

• EBITDA decreased marginally to CHF 62.0 million from CHF 63.1 million; period result was CHF 34.5 million, down from CHF 35.0 million.

• Result per share was CHF 6.07, up from CHF 5.97 in H1 2023.

• Free cash flow improved to CHF 17.96 million from CHF 14.60 million year-over-year.

Outlook and guidance

• Stable development expected for the full year 2024, though global uncertainties such as geopolitical conflicts and economic trends may impact performance.

• CEO succession plan finalized, with Oliver Hammel to take over in H1 2025.