Gasteiner Bergbahnen AG: Solid result despite challenging times

Over one million first-time visitors in the summer and winter seasons, as well as a slightly positive annual surplus despite cost pressures, underline the stable development in a difficult market environment.

A financially demanding year due to cost pressures, challenging conditions in winter tourism, and the explanation of the solid annual result by the board of directors were the focus of the 47th Annual General Meeting of Gasteiner Bergbahnen AG on May 22, 2026. At the same time, the important future investment, the "Hirsch und Maus" mountain restaurant of the Schlossalmbahn, was recorded as an initial success.

Despite high costs and a below-average winter season, revenues were maintained at the previous year's level, resulting in a positive operating result. The Gastein mountain railways recorded more than one million first-time visitors in both the summer and winter seasons. Revenue from passenger transport amounted to approximately €38 million, with around 90 percent of that generated during the winter season.

“The past fiscal year was characterized by increased costs, lower demand during the winter season, and challenging economic conditions. It is all the more gratifying that, through sound management, we were nevertheless able to achieve a positive net profit and thus remain on a stable financial footing. With an equity ratio (including subordinated loans) of around 40 percent, the Gastein mountain railways are in a solid position, and we are optimistic about the future,” emphasizes CEO Benjamin Rogl.

Winter remains a core business area

The 2024/25 winter season was below average overall. After a strong start with early runs to the valley, warm temperatures in February and March led to difficult conditions and an early end to the season. The number of first-time visitors fell by 3.3 percent to around 781,000. Thus, winter remains the core business of the Gastein mountain lifts, accounting for almost 90 percent of total revenue.

“Last winter in particular demonstrated once again how important reliable snow cover and efficient snowmaking are for successful operations. This issue will continue to play a central role in our future investments,” explains board member Andreas Innerhofer.

Summer operations, on the other hand, remained stable: with around 221,000 visitors, the high level of recent years was maintained. Regional overnight stay trends also confirm the different dynamics between winter and summer tourism: while winter tourism declined slightly, summer tourism in Gastein continued its positive development.

The transition between the summer and winter seasons was particularly successful: Summer operations ran until November 10, 2025, and the new 2025/26 winter season was successfully launched on November 28 with valley runs at Stubnerkogel and Schlossalm.

Investments as a clear signal for the future

A key focus during the reporting period was the construction of the new mountain restaurant "Hirsch & Maus". Construction was approved to begin in February 2025, and the grand opening took place in December of the same year.

The Gastein mountain lifts invested a total of €16.1 million, of which around €12 million went into the new building on the Schlossalm. The new mountain restaurant was built in just nine months and comprises three levels with a restaurant and terrace, indoor activity areas, and infrastructure for the ski patrol and avalanche warning commission. As part of the project, the existing mountain station was also demolished and rebuilt.

“Especially in challenging times, consciously investing counter-cyclically in quality and infrastructure was an important strategic decision for us. With ‘Hirsch & Maus’, we have succeeded in significantly enhancing the offerings in the area and attracting new target groups,” said Innerhofer.

The first season confirms this approach: The new offering has been very well received by guests. The quality of stay, the food and drink, and the ambiance have received particularly excellent feedback. At the same time, additional visitors from non-skiers have been attracted.

The Gastein mountain lifts will continue to focus on quality development. This year, the attractiveness of their offerings will be further enhanced through the redesign of a play area and the introduction of year-round indoor activities.

Changes in the Supervisory Board

The Annual General Meeting also saw personnel changes on the Supervisory Board. Due to differences of opinion between a major shareholder and Supervisory Board member Martin Kerschbaumer, he was removed from the Supervisory Board. Roman Kofler, General Manager of Janus Hotelbetriebsgesellschaft mbH, a leading tourism company in Bad Gastein, was newly elected to the board.