Wasserngrat 2000 AG has slightly increased its turnover and improved its operating result, yet once again recorded a small annual loss. At the company’s 26th Annual General Meeting, held at the Hotel Arc-en-Ciel in Gstaad, attention centred not only on the financial results but also on a generational change at the top. Antoine Spillmann was elected as the new chairman and signalled his intention to prepare the traditional mountain for a future that may not always include snow.

Slightly higher turnover – but another loss

Shareholders had little reason for debate. The statutory agenda items were handled efficiently and the minutes approved unanimously.

Financially, the company looks back on a mixed yet stable year. Turnover increased by nine percent to around CHF 1.325 million, partly thanks to a somewhat higher contribution from the Eagle Club. Costs remained largely under control. Notably, personnel expenses fell by about 15 percent. At the same time, however, energy and waste-disposal costs rose by roughly 23 percent, reaching nearly CHF 175,000 and becoming the second-largest expense item.

Chairman Philippe Gudin expects this trend to continue: energy prices are unlikely to fall, and the need for technical snowmaking is likely to increase.

Operationally, the result improved significantly. EBITDA rose by 63 percent to around CHF 348,800. After depreciation, financial expenses and taxes, however, the company still recorded an annual loss of roughly CHF 34,000. On the positive side, cash flow was slightly in the black.

For Gudin, this is not enough. The aim now is “to reverse the trend and find solutions that make the Wasserngrat increasingly attractive even without snow.” The annual accounts were approved unanimously, and the loss carried forward.

Magic Pass: stronger summer, uncertain winter

The impact of the Magic Pass was also discussed. Both Gudin and managing director Ivo Paroni were cautious about making concrete predictions, noting that it is still too early for reliable figures.

Summer business was “certainly somewhat better,” while winter has shown a shift in purchasing behaviour. Fewer individual tickets are sold in the mornings, as many guests already hold a Magic Pass. Paroni expects the overall annual turnover to remain broadly stable.

Looking ahead to 2039

In the short term, no major investments are planned. Over the longer term, however, change is on the horizon. The operating licence for the lift expires in 2039, and together with the Eagle Club the company is already working on a project to redefine the future use of the lift and ski slopes.

The need for action is clear: today, the costs of slope preparation exceed those of transporting guests up the mountain. A comprehensive future strategy is expected to be presented to shareholders at the next general meeting.

A generational change at the top

The most emotional moment of the meeting came during the elections. Due to the company’s age regulation – board members retire at 70 – a new chairman had to be appointed.

Antoine Spillmann, proposed by the board, was elected with strong applause. Alexis de Dietrich will join the board as the successor to Philippe Gudin, also receiving clear support from shareholders.

After Gudin’s contributions were acknowledged and a token of appreciation presented, Spillmann addressed the assembly. The grandson of one of the company’s founding members recalled that the lift will celebrate its 80th anniversary in April 2026 – no small achievement in a rapidly changing industry.

“We have survived eight decades because we succeeded in uniting a family, a club, a company and a region around a shared vision. Wasserngrat is not simply a chairlift. It is living history, a ski culture, a family spirit and a collective energy.”

Spillmann said he was delighted to take on the role as a “quasi-local”, a member of the Eagle Club and a former Rosey student. He also thanked managing director Ivo Paroni, who has been leading the company for the past three years.

T&R Oberland AG was reappointed as the company’s auditors for another year.

At the apéro following the meeting, shareholders continued their discussions about energy prices, snow reliability and how Wasserngrat can remain an integral part of the region’s identity in the years to come.

Based on AvS/ Marco Kellenberger