Arosa Bergbahnen start the next era with record numbers and a CHF 67 million Hörnli project.

At the Annual General Meeting, the shareholders of Arosa Bergbahnen AG approved all proposals of the Board of Directors with overwhelming support.

The focus was on the most successful financial year in the company's history, the financing of the Hörnli generational project, and the upcoming handover of management.

The meeting was very well attended with 380 people and was chaired for the first time by the new Chairman of the Board of Directors, Urs Marti, who had been elected to this position the previous year. His conclusion was correspondingly positive: Arosa Bergbahnen now possesses a financial strength that makes it possible both to make attractive distributions to shareholders and to undertake the largest investment in the company's history.

Historic record result

With operating revenue of CHF 38.456 million, Arosa Bergbahnen achieved a new record high in the 2025/2026 financial year. Earnings performance was even stronger: EBITDA reached CHF 14.886 million, net profit CHF 3.647 million, and cash flow CHF 13.672 million. All key figures represent new record highs. The development in the mountain restaurants was particularly positive. With a turnover of CHF 10.403 million, the ten million Swiss franc mark was exceeded for the first time. At the same time, the number of summer visitors increased.

“The Arosa mountain railways are in a stronger economic position today than ever before. Our investments in quality, infrastructure and guest experience are paying off and creating long-term added value for guests, shareholders and the destination,” said Urs Marti to the shareholders present.

Clear approval of dividend and strategic course

All statutory business was passed without difficulty. In particular, the General Meeting approved the distribution of a dividend of 4 percent on the nominal value, or CHF 4.00 per share.

The Board of Directors was keen to emphasize the long-term perspective of this dividend policy. Despite the upcoming major project at Hörnli, it remains committed to its goal of continuing to ensure shareholders participate appropriately in the company's success. "The combination of high profitability, stable cash flow, and a healthy balance sheet makes it possible to reconcile investments and dividend policy," Urs Marti added.

The Hörnli generational project is taking shape

The board of directors provided detailed information about the Hörnli area development. With an investment volume of CHF 67.1 million, the largest single investment in the company's history will be undertaken in the coming years. Plans include replacing the existing gondola and chairlift with a new 10-person gondola and a modern 8-person chairlift, optimizing the slope layout, making substantial investments in snowmaking technology, and implementing additional infrastructure measures.

The Hörnli area forms the central link between Arosa and Lenzerheide and thus plays a key role within the ski resort. This project will ensure and further develop long-term accessibility, comfort, snow reliability, and the quality of services offered.

Construction will take place in stages until the end of 2028. Full commissioning of the new facilities is planned for the 2028/2029 winter season. For the board of directors, the project represents a clear commitment to the Arosa location and to the long-term competitiveness of the Arosa Lenzerheide ski area.

Philipp Holenstein retires, new managing director introduces himself to the shareholders

Another important item on the agenda of the general meeting was the upcoming change in management. After 14 successful years at the helm of Arosa Bergbahnen, Philipp Holenstein will hand over operational leadership to Stefan Reichmuth on November 1, 2026.

Philipp Holenstein's tenure as Managing Director of Arosa Bergbahnen AG was marked by exceptional competence, empathy, and a strong focus on results. The company's development and consistently successful financial performance speak for themselves. Together with the Board of Directors, Honorary President Lolo Schmid, the management team, and the entire staff, Philipp Holenstein succeeded in building a highly structured and successful company. His time in office was marked by numerous milestones, but his personality was and remains the most defining characteristic. At the Annual General Meeting, Philipp Holenstein was given a formal send-off, his contributions were recognized, and his work was acknowledged. Under his leadership, Arosa Bergbahnen experienced extraordinary economic, organizational, and strategic success.

His successor, Stefan Reichmuth, introduced himself to the shareholders with great pleasure and briefly outlined the opportunities and challenges of the coming years. With Stefan Reichmuth, a former employee returns to the mountain railways. This ensures continuity, local ties, and expertise. Stefan Reichmuth received a warm welcome.