2011 Statement of Income Jungfrau Railway Holding AG

18.04.2012

1. January - 31. December	2011	2010
(in CHF thousand)

Operating income
Transportation revenue	110'228	104'205
Subsidies	8'348	8'325
Energy sales	6'874	4'521
Shop sales	3'727	3'305
Catering and accomodation	894	940
Rental income	5'499	5'415
Other income	12'271	11'903
Total operating income	147'841	138'614

Operating expenses
Personal costs	-48'457	-46'569
Purchase of energy	-3'087	-2'124
Cost of goods sold	-1'641	-1'425
Other operating expenses	-37'900	-36'332
Total operating expenses	-91'085	-86'450

EBITDA	56'756	52'164
Depreciation
Depreciation of tangible assets	-25'111	-22'797
Depreciation of intangible assets	-656	-387
Total depreciation	-25'767	-23'184
Operating profit / EBIT	30'989	28'980

Financial income/expenses
Financial income	1'558	328
Income from associated companies	132	465
Financial expenses	-470	-213
Financial income/expenses	1'220	580

Income before tax / EBT	32'209	29'560
Income and capital taxes	-6'480	-6'392

Net profit after minority interests	25'729	23'168
Minority interests	-296	-520
Net profit after minority interests	25'433	22'648

Jungfrau Railways