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To capitalise on the potential demand, price levels and costs must be kept low. Only in this way can the positive operating results be achieved and the desired cash flows generated, which can be reinvested to strengthen the company and distributed in the sense of a value stock. The funds, which are targeted at enhancing attractiveness and productivity, create a cycle that increases the company's value in terms of future earnings potential.

The outstanding project in this context is the V-Cableway. This project was already presented to you in the welcoming address. The planned investment volume for the entire project amounts to CHF 470 million (Jungfrau Railway Group CHF 320 million) and has therefore increased by just under 4.5% from the previous year. The increase is due to an adjustment of the cost estimate to the latest level of detailed planning. The external project verification mentioned in the previous year's report took place at the corrected, i.e. higher investment volume. Of the CHF 320 million, CHF 105 million has already been spent, in particular on the procurement of new trains and on the planning of the other project components (CHF 10 million).

The tricable gondola Eiger Express, to be realised shortly, will improve attractiveness and productivity. The investment allows for faster and more comfortable travel while simultaneously reducing maintenance and operating costs per passenger. With the opening of the cable car, the connecting trains to the Jungfraujoch will operate in a simpler circulation, which reduces the rolling stock requirement and the number of transport service trips by 25%. The existing infrastructures are relieved of daily peaks and intersecting streams of visitors. This results in increased convenience and daily output without fundamental adjustments to the basic substance of Kleine Scheidegg and Jungfraujoch.