Jungfraubahn Holding AG + Berner Oberland-Bahnen AG

Jungfrau – Top of Europe is an alliance of the Jungfrau Holding AG (JBH) and the Bernese Oberland-Bahnen AG (BOB). The objective of the alliance is to exploit synergies. The two partners form a powerful team. JBH is listed on the SIX in Zurich. BOB shares are traded on the Berner Kantonalbank's OTC X. As part of the alliance, the initiative will support "10-month high season".

Jungfraubahn Holding AG


Jungfraubahn Holding AG (JBH) has eight subsidiaries. As its main activity, the group operates excursion railways and winter sport facilities in the Jungfrau Region. The customer is offered an adventure in the mountains and on the train. JBH defines three business segments: Jungfraujoch – Top of Europe, Winter Sports and Mountain Experience. The Jungfraubahn Group owns a share of over 60% of the Jungfrau Ski Region, which includes the areas of Kleine Scheidegg-Männlichen, Grindelwald-First and Mürren-Schilthorn. The Grindelwald-First, Harder Kulm and Winteregg-Mürren destinations are part of the Mountain Experience business segment. The most important offer is the journey to the Jungfraujoch – Top of Europe. Due to the long-term development of a distribution and agency network, the Group has achieved a leading position in the Asian markets. In addition, it also operates its own hydroelectric plant, leases premises for restaurants to operate and sells complete holiday packages on its website in cooperation with partner companies.

Berner Oberland-Bahnen AG


Berner Oberland-Bahnen AG (BOB) is a regionally based transportation company that is committed to serving the public. The modern regional railway has a feeder function for destinations in the Jungfrau region and opens up the two Lütschinen valleys from Interlaken Ost to Grindelwald and Lauterbrunnen. Since BOB operates a part of the public transport network, the federal and cantonal governments purchased a clear majority of shares. The core business of the BOB is the marketing of the two segments, Bernese Oberland Railways and Schynige Platte Railway. The latter operates in the tourist sector. The combination of the two business segments in its core business, the Schynige Platte nature experience and the synergies from the alliance with Jungfraubahn Holding AG, are the success factors of the stock corporation.

Strategy, objective and new projects


The objective of the alliance is to exploit synergies. As part of the alliance, JBH and BOB support the "10-month high season" initiative. Both partners seek internal growth via better utilisation of the off-season.

JBH is a leading tourism company and the most significant mountain railway company in Switzerland. To continuously increase the value of the Group as a value stock for investors is the basic strategy that informs this objective. The objective is to strengthen the Jungfraujoch – Top of Europe as the main source of revenue. By means of continuous modernisation of the railways, the shortened travel times demanded by the market should be realised. The Jungfrau Group and the Grindelwald-Männlichen Cable Railway plan to jointly develop a V-Cableway that provides access to Männlichen as well as the Eiger Glacier. As a result, the travel times can be shortened and the quality can be improved. As part of the WAB Plus project, the double-track island Wengen Allmend was expanded and six new panorama trains were purchased. The trains will be delivered in 2015 and then used on the Lauterbrunnen-Kleine Scheidegg route. This guarantees the continuous half-hourly service.

The pursuit of profit is not the primary objective of BOB, yet the attitude is clearly businesslike. The objective is the cost-conscious operation of the railways, easing the burden on the public regarding reimbursement requirements and maintenance of the Schynige Platte Railway by means of its own resources. The construction of the 700-meter long "Buechitunnel" on the route between Zweilütschinen and Grindelwald should put an end to the risks of service interruptions caused by natural hazards, and it should increase the comfort of the ride as well as timetable stability. Another significant investment project is the connection of the railway to the Kleine Scheidegg-Männlichen ski area by means of a new Rothenegg Grindelwald station.

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