An average summer and the worst winter since ever
In 2015/2016, the business year started with cold temperatures and with high precipitation. Just in time for the summer holidays, the weather changed and the FLF region experienced lots of sunny days with warm temperatures. With the construction of the new 10-seat gondola cableway La Siala, the summer 2015 has also been an intense period with a high amount of construction activities. Moreover, nine restaurants in total have been either renovated or completely rebuilt.
The weather conditions were a primary contributing factor for the low performing winter season. The region experienced above average early season temperatures, a lack of snow fall until mid-January, and unideal weekend weather conditions. The euro crash as well as the high costs for the infrastructure for artificial snowmaking and the events upon the mountain contributed to the disappointing season. On the other hand, sales of the rocksresort apartments exceeded expectations once again, whereas the merge between Laax and Flims had to reveal a consolidated loss.
Net turnover (in TCHF)
Despite the fact that the number of sold tickets decreased by around 48 500 guests and the operating turnover by 3.5 million Swiss francs compared with the previous year, the net turnover has been increased by 1.6 million Swiss francs or 1.8 %. Along with the positive numbers in the field of sale of the rocksresort apartments it is necessary to emphasize the higher earnings which could be gained from different projects.
Cashflow (in TCHF)
With a number of 17.5 million Swiss francs in sales, the cash flow was 3.8 million Swiss francs or 17.7% lower compared to the previous year (CHF 21.4 million) and 2.7 million francs below the average of the last 5 years. Thus, the cash flow of 2015/16 indicates the worst result within the last eight years. Relative to the turnover (19.7%) and to the total capital (8.8%) it was possible to obtain results that can be put in appearance in the cross-sectoral comparison.
Debt (in TCHF)
The gross investment of 2015/16 reached the total of CHF 25.6 million, whereas 13.1 million Swiss francs have been used for the new 10-seat gondola La Siala and 2.3 million francs for the renovation of several restaurants on the mountain and in the valley. Despite the high investment, the debt level of 133.2 million Swiss francs is within the scope of the previous year (CHF 129.8 million). Besides the high cash flow it must be emphasized that the brisk sale of the rocksersort apartments is responsible that there was barly no increase in the dept capital. The equity ratio is now at 32.8% (33.9% in the previous year), and the leverage factor is new at 7.6 years.
Visitor numbers (in thousands)
With a total of 846,451 guest tickets we have fallen below the performance from the business year, 2014/15 (894,965), by 5.4% or 48,514 tickets. In comparison to the average of the last five years we had a reduction in ticket sales of 7.5%. Both figures reflect a reduction in daily and weekly ticket sales. We had sight improvements both season and year abonnements.