Kursaal Bern AG / Key word(s): Annual result
Kursaal Bern AG records significant growth
05.05.2023 / 06:50 CET/CEST
Publication of an ad hoc announcement according to Art. 16 KR
The issuer / publisher is responsible for the content of the notification.
After a weak start to the 2022 financial year, all business areas of the Kursaal Bern Group recorded substantial growth from the second quarter, which peaked in November with operating income of over CHF 4.3 million. Overall, the Kursaal Bern Group recorded a significant increase in sales of 61.9% to CHF 74.8 million in 2022. The operating result EBITDA rose to CHF 7.9 million and brought the company into the profit zone at this level (previous year: CHF – 2.5 million).
Nevertheless, at the end of the year there was a pro rata loss excluding minorities of CHF -2.5 million. Compared to the result of the previous year (CHF -13 million) adjusted for hardship benefits, it shows that 2022 could be closed significantly better, even if it was not overall succeeded in fully compensating for the losses of the first quarter.
“Last year we faced the challenges, some of which were unexpected, and will be presenting continuously better frequencies and sales from the second quarter of 2022. We will continue on this path with a focus on returning to profitable growth,” explains Chairman of the Board of Directors Prof. em. dr Daniel Buser.
With an equity ratio of 62.7% (previous year: 64.1%), the Kursaal Bern Group shows security and stability as in previous years. Group equity including minorities amounts to CHF 90.3 million.
The 2022 Annual Report of Kursaal Bern AG presents another focus of the company: sustainability. Accompanied by MyClimate, United against Waste and Planet21 from ACCOR (Gold Status), Kursaal Bern AG has Level II (engaged) at Swisstainable. Since the beginning of the year, it has been offering CO2-neutral congresses and hotel accommodation with myclimate “Cause We Care”.
BUSINESS DEVELOPMENT
The consequences of the fourth corona wave were evident in all business areas in the first quarter of 2022: canceled or postponed events and canceled overnight stays. Numerous lockdowns in China affected supply chains. At the same time, the Ukraine war began to weigh on what was already a difficult economic environment. Significant price increases were the result.
In the second quarter, all business areas of the Kursaal Bern Group benefited from an upturn in consumption. This gratifying development continued throughout the rest of the year.
The company had to accept a high level of employee turnover, which is typical for the industry. However, she was once again able to fill all vacancies on her own. In 2022, the Kursaal Bern Group had 426 full-time equivalents (FTE) (2021: 357).
DIVISIONS AND SUBSIDIARIES
CONVENTION CENTRE
After a rocky start to the year, the convention center recovered quickly as the year progressed, with September and November almost fully booked.
SWISSOTEL KURSAAL BERN
With the end of the weak first quarter, occupancy rates as in the pre-Corona year 2019 and better were generated over the course of the year. Individual travellers, families and small groups from Southeast Asia and the Arab world were welcomed more frequently. The hotel benefited from its international brand.
GASTRONOMY
The good weather made it possible to use the Kursaal Garden from March. The rooftop grill, with more exclusive events than ever before, and the almost fully booked rooftop igloos were very popular. In December 2022, the first preparatory work for the renovation of the Giardino restaurant began. The reopening is planned for May 2023.
GRAND CASINO KURSAAL BERN
In 2022, terrestrial casinos almost reached the level of 2019, the year before the pandemic. A license application was submitted to the Swiss Federal Gaming Board (ESBK) in October – for a terrestrial A-casino and for the online casino 7melons.ch.
ONLINE CASINO 7melons.ch
The start of the new technical platform of the online casino 7melons.ch has been successful. The offer will be further expanded both technically and operationally, and the digital marketing activities will be specifically geared to market needs.
CASINO NEUCHÂTEL
In 2022, the numbers showed a clear upward trend after the end of the pandemic, but without reaching the pre-corona level. Casino Neuchâtel submitted a license application for a terrestrial B-Casino to the ESBK. This was a priority after the online gaming platform was phased out at the end of 2022.
LEMAN CASINO (Project)
In October 2022, the Kursaal Bern Group applied for another A concession for a third terrestrial casino in Romanel-sur-Lausanne: for the Casino du Léman.
OUTLOOK
Rising energy and food costs, a shortage of skilled workers, the war in Ukraine, problems in the supply chain, inflation and the exchange rate continue to shape the economic environment. Climate change is paramount in the long term.
The rising prices will affect future business figures. The company will continue to optimize its processes in all areas and further increase its efficiency in order to counter the cost pressure.
In the congress sector, Kursaal Bern AG has joined forces with Bern Welcome and Bernexpo to form the “Congress Hub Bern” interest group in order to promote the city of Bern as a congress location. In the area of sustainability, a photovoltaic system is planned on the roof of the Kursaal Bern. This also in order to increase the future viability of the company with increasing energy independence.
Overall, all investments will further strengthen the market position of the Kursaal Bern Group as the leading Swiss congress, hotel, catering and casino company.
From June 1, 2023, Thomas Keller will succeed CFO Oliver Schmutz, who is leaving the company at the end of May, as CFO ad interim. On Monday, June 19, 2023, the 120th Annual General Meeting of Kursaal Bern AG will take place in the Kursaal Bern.
The detailed Annual Report 2022 of Kursaal Bern AG can be found at gb-kursaal-bern.ch
Contact
Kevin Kunz
Oliver dirt
CEO / General Manager
CFO / Director of Finance
kevin.kunz@kursaal-bern.ch
oliver.schmutz@kursaal-bern.ch
Kursaal Bern AG
Kornhausstrasse 3
CH-3000 Bern 22
T+41 31 339 52 06
www.kursaal-bern.ch/investoren
investoren@kursaal-bern.ch
About the Kursaal Bern
The Kursaal Bern Group is a traditional Swiss company with three business areas: Congress Center, Hotel & Gastronomy and Casino. The versatile all-in-one offer consists of professional congress services with the latest digital technology and 28 flexibly usable rooms for face-to-face events for up to 1,500 people as well as online events. The group also has the Swissôtel Kursaal Bern (4-star superior) with 171 rooms and suites and attractive gastronomy, which is part of the international Accor Group, as well as the Grand Casino Kursaal Bern with its own online offer ‘7melons.ch’ and the Casino Neuchâtel . With its central location in the heart of Bern, at the interface between German-speaking Switzerland and French-speaking Switzerland, the Kursaal Bern Group is well positioned to continuously expand its market position as a major Swiss congress, hotel & catering and casino group.
End of the ad hoc release
Language:
Deutsch
Company:
Kursaal Bern AG
Kornhausstrasse 3
3013 Bern
Switzerland
Telephone:
+41 31 339 55 00
E-Mail:
investoren@kursaal-bern.ch
Internet:
https.//kursaal-bern.ch
ISIN:
CH0001613295
The stock exchange:
BX Berne eXchange
EQS News ID:
1625185
end of message
EQS News-Service
1625185 05.05.2023 CET/CEST
2023-05-05 05:09:49
#Kursaal #Bern #records #significant #growth
