Andermatt Swiss Alps: record results in 2020 despite the health crisis

Andermatt Swiss Alps: record results in 2020 despite the health crisis
Andermatt Swiss Alps: record results in 2020 despite the health crisis

Andermatt (awp) – The Andermatt Swiss Alps (ASA) group had a prosperous 2020 financial year, despite the Covid-19 crisis. The company in the hands of Egyptian businessman Samih Sawiris has never sold so many apartments, as attendance at the luxury hotel “The Chedi” has reached record highs.

The group saw its turnover contract by 8% to 154 million Swiss francs, mainly due to the early closure of the season in March 2020, we could read Thursday on the site of the promoter of Central Switzerland, which for the first time in its history saw its gross operating income (EBITDA) close in the green, at 5.4 million Swiss francs.

In the real estate business, sales swelled by almost a quarter to 77 million Swiss francs. At the end of the financial year, around 95% of all turnkey apartments had found a taker, assures ASA.

Despite the closures imposed to stem the pandemic, “The Chedi” hotel welcomed some 55,000 guests, 17% more than the previous year. The occupancy rate thus rose to 69%, against 54% in 2019. More focused on events and groups, the “Radisson Blu Reussen” had to be content with 37%.

For the current fiscal year, the company plans to build 16 new apartments in existing complexes, as well as a third hotel.

ASA is 49% owned by the urano-cairo promoter Orascom DH, listed on the Swiss Stock Exchange, the majority remaining in the hands of Samih Sawiris, who is also the main shareholder and chairman of the board of directors of Orascom DH.

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