2014 Group Balance Sheet per 30.06.2014 / 31.12.2013

(in thousand CHF)	30.06.14	%	31.12.13	%
			adjusted

Assets
Current assets
Cash and cash equivalents	18'847		58'668
Trade accounts receivable	10'521		9'110
Other receivables	6'141		2'420
Inventories	1'223		976
Prepayments and accrued revenues	8'646		6'702
Total current assets	45'378	8.3	77'876	14.1

Fixed assets
Tangible assets	490'055		464'293
Financial assets	4'372		5'450
Intangible assets	4'305		4'445
Total fixed assets	498'732	91.7	474'188	85.9

Total assets	544'110	100.0	552'064	100.0

Liabilities and shareholders' equity
Financial debts	740		740
Accounts payable, trade	14'530		19'351
Other liabilities	3'523		4'847
Accruals	5'435		4'598
Accruals and deffered income	13'340		17'724
Total short-term debts	37'568	6.9	47'260	8.6

Long-term debt	20'921		20'523
Accruals	44'008		44'006
Total long-term debts	64'929	11.9	64'529	11.7

Total liabilities	102'497	18.8	111'789	20.3

Shareholders' equity
Share capital	8'753		8'753
Capital reserves	-2'573		-2'573
Own shares	-1'689		-1'678
Consolidated reserves	431'920		430'645
Minority shareholders' interests	5'202		5'128

Total shareholders' equity	441'613	81.2	440'275	79.7

Total liabilities and shareholders' equity	544'110	100.0	552'064	100.0

Jungfrau Railways