EANS-Adhoc: Jungfraubahn Holding AG / A solid result in spite of a difficult environment

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6-month report

09.09.2009

The Jungfraubahn Group can look back on a successful first six months
of 2009. In a difficult environment we achieved a solid result.
Despite the financial and economic crisis, we recorded half-year
profits of CHF 8.2 million - "only" 9% below the record result for
the same period last year. Operating revenue totalled CHF 65.4
million, a decline of CHF 1.1 million. The cost-cutting measures we
introduced are already bearing fruit. Altogether we were able to
reduce outgoings by 1.7%. The operative result (EBIT) of CHF 10.9
million was equivalent to an EBIT margin of 16.6%.

These half-year results are all the more gratifying when one takes
into account the underlying conditions. The financial and economic
crisis ¬(which already had a negative effect on visitors to the
Jungfraujoch - Top of Europe in the last quarter of 2008) affected in
particular our two most important Asian markets, Japan and Korea.
Since April 2009, swine flu has had further negative impact on large
regions of Asia. For these reasons Asian group travel turnover
slumped by more than 40%. However, promotion campaigns within
Switzerland and in the close European markets succeeded in attracting
more individual excursion visitors to the Jungfraujoch - Top of
Europe. A total of 268,800 passengers made the trip to our premium
destination; this was 11,000 more than during the first six months of
2008.

Our second most important pillar - winter sports business - also
fulfilled our expectations. Despite an above-average number of days
lost due to strong "Föhn" conditions, we still recorded the second
highest winter sports season turnover in our history.

The Firstbahn saw not only good occupancy rates in winter but also
benefited from new attractions on the First. These included the First
Flyer and the Alpine Playground on Bort which, together with the
popular scooter biking activity introduced several years ago,
continues to boost bookings. As expected, however, the Harderbahn
attracted fewer guests than during the first half year of 2008 - the
year the railway celebrated its centenary. The Mürrenbahn also
recorded a passenger decline, because the ski descent to
Lauterbrunnen was open over a very long period of time.

Under the previously announced share subscription programme, 68.8% of
subscription rights were taken up. As a result, some 2.5% of shares
from our own holding were placed with existing shareholders. From the
winter season 2009/2010, members of the new Shareholders' Club each
owning more than 250 shares will be entitled to take advantage of a
range of special offers (details to be announced shortly).

Despite the financial and economic crisis, the Jungfraubahnen
continues to invest in future-oriented projects with high
customer-benefit potential. This winter will see the opening of a new
six-seater Eigernordwand chairlift, linking the Arvengarten station
with the Eigergletscher and completing the Kleine
Scheidegg-Eigergletscher-Lauberhorn ski-trail carousel. At the same
time, the snowmaking installations in the Kleine
Scheidegg-Eigergletscher area will be completed and fully
operational.

We have also begun renovating facilities at the Lütschental power
station, ensuring a 50% increase in electricity production from 2011.

Up to and including August 2009, passenger traffic to the
Jungfraujoch - Top of Europe has declined by only 1.2%. Unlike the
first six months of the year, we have not launched any further new
high season special offers. Instead we have intensified marketing
activities in our key Asian source markets. Our strategy is
intentionally anti-cyclical, in the firm conviction that we will
further strengthen our position in the medium term and be well
prepared for the anticipated upswing from 2010.

With the aim of extending our high season, we are currently launching
many events and pursuing a consequential strategy of sustained
targeting at our near-European markets - this in keeping with our
slogan: "10 months of high season."

Preparations are already well under way for our festivities in 2012,
marking the 100th anniversary of the Jungfraubahn. An attractive
programme of centenary celebrations is being planned worldwide, aimed
at promoting interest in our product and increasing demand. In
addition, the Jungfraujoch - Top of Europe will be given a festive
facelift in time to welcome centenary visitors.

All the figures by the following link:
http://www.jungfraubahn.ch/en/desktopdefault.aspx/tabid-201/

Ende der Mitteilung euro adhoc
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ots Originaltext: Jungfraubahn Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Urs Kessler, CEO, +41 (0)33 823 22 50

Simon Bickel, Head of media, +41 (0)79 222 53 10

Branche: Railway
ISIN: CH0017875789
WKN: 001787578
Index: SPI
Börsen: BX Berne eXchange / SWX Local Caps
SIX Swiss Exchange / SWX Local Caps