TL;DR
Schilthornbahn AG has reported its best visitor numbers on record for the 2025 financial year, with a 21.9% increase over the previous year that surpassed the prior peaks of 2018 and 2019. The result is notable given the Schilthorn summit was closed for construction until mid-March 2025, cutting early-season visitors by 22%.
Schilthornbahn AG has reported record visitor numbers for the 2025 financial year - a result made more significant by the fact that the Schilthorn summit was closed for construction for the first two and a half months of the year.
Overall visitor numbers on the Schilthorn increased by 21.9% compared to 2024, surpassing the previous record figures from 2018 and 2019. Cable car revenue rose by 28.6%. The result spans all business units, with the company reporting positive outcomes across every segment of its operation.
A Closure That Could Have Gone the Other Way
Until mid-March 2025, construction work kept the Schilthorn summit closed, producing an expected 22% drop in visitor numbers during that period. The reopening of cable car service between Birg and Schilthorn - along with the summit shops - triggered a sharp reversal.
Schilthornbahn AG director Christoph Egger attributed part of the rebound to curiosity. Guests came to see the progress on the new summit buildings as much as to ski or take in the panorama. International market development, increased transport capacity from the new cable cars, and continuous operation through the autumn months all contributed to the full-year result.
All Business Segments Up
The positive result extended across every part of the business. The catering division grew total revenue by 6.8% - notable given that Piz Gloria, the flagship revolving restaurant at the summit, remained closed throughout the construction period. Hotel revenue increased 1.4% year-on-year. The Shops and Merchandising division grew by nearly 22%, partly reflecting the expanded retail footprint now available on the Schilthorn.
No Dividend, Cautious Outlook
Despite the strong result, the Board of Directors will not be proposing a dividend distribution at the 2026 Annual General Meeting. The company is maintaining conservative liquidity planning as the multi-generational SCHILTHORNBAHN 20XX redevelopment project reaches its final stages. Global tourism uncertainty linked to ongoing conflicts in the Middle East is cited as a factor in that caution.
The company notes that performance across business areas remains strong into the 2026 financial year. The Annual General Meeting is scheduled for 19 June 2026 at the Alpine Sports Centre in Mürren.
About the author
Michael Fulton
Melbourne-based skier and snowboarder with 50+ resorts across 5 continents. Specialises in Australian resorts and international resort comparisons.
