Solid operating profit
Even though difficult conditions saw us fall short of the previous year's turnover by CHF 0.7m, the figure of CHF 86.8m and cashflow of CHF 20.1m mean the second best result in the history of the company. We were successful in being able to increase the equity-to-assets ratio from 27.6% to 29.3% despite the gross investment of CHF 27.1m in financial year 2010/11. This is attributable to the cashflow and the successful sale of the rocksresort apartments.
Net turnover (in TCHF)
Despite a decline of 7.9% for initial entries as compared to the previous year, the negative figure for the net turnover of CHF 86.8m was just 0.8%. Additional turnover was generated on the strength of additional businesses opening up in the rocksresort, the new Freestyle Academy, higher levels of consumption in the mountains and services rendered by the Weisse Arena Group for third parties and projects. Net turnover per guest increased from CHF 86.70 to CHF 93.30.
Cashflow (in TCHF)
The figure of CHF 20.1m falls short of the cashflow figure for the previous year (CHF 24.1m) by CHF 4.0m (16.6%) . The operating profit is still 2.7% above the average figure for the last five years and represents the second best result in the history of the company. The peak results of the previous year could neither be attained in their own right, nor in relation to the turnover (23.1%) or total capital (9.8%).
Debt (in TCHF)
Despite gross investments amounting to CHF 27.1m, the long-term liabilities were kept at a level of CHF 116.1m, as in the previous year. In addition to the cashflow of CHF 20.1m, the sale of apartments in the rocksresort also had a positive effect. Since the equity capital was increased by CHF 3.1m at the same time, the equity-to-assets ratio rose from 27.6% to 29.3%. The debt factor increased from 6.1 to 7.1 years due to the lower cashflow.
