Cisalpino AG year-end results

Bern, Switzerland 10.02.2002 (PROTEXT/ots) -

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Train operator Cisalpino AG can again report buoyant annualresults, extending its track record to three profitable years insuccession. Sales of CHF 65.82 million are 12% up on theprevious year's figure of CHF 58.82 million. Operating resultincreased by around 54%, from CHF 8.13 million to CHF 12.55million. This pleasing business development is also reflected incash flow, which shows an on-year increase of 14% from CHF 18.35million to CHF 20.91 million. Semi-annual figures for 2002confirm the positive development trend.

2001 marks a further consolidation of recent resultsachieved by Cisalpino, an Italian-Swiss joint venture withequity stakes held by Trenitalia S.p.A., the Swiss FederalRailways, the BLS regional railway and several cantons in westernSwitzerland.

1997

1998

1999

2000

2001 Sales in CHF million 29.48

41.03

58.30

58.82

65.82

Operating result (EBIT) in CHF million -7.59

-3.13

7.75

8.13

12.55

Net profit in CHF million -10.34

-9.79

0.63

3.30

5.79

Cash flow in CHF million

0.73

1.81

15.34

18.35

20.91

Cisalpino AG's success comes not only from an effectivemarketing strategy and ongoing cost optimisation, but also itsunique organisational structure - a fact confirmed in an auditconducted by one of the principal shareholders. Outsourcing isjust one element of the management company's lean organisationthat permits flexible response to changes in the travel market.

Cisalpino AG holds a concession and licence for the Swissrailway network and operates its tilting trains on threeprincipal routes: Gotthard, Simplon - Geneva and Simplon -Lötschberg. The Cisalpino fleet provides 430 long-distanceconnections a month, covering a combined annual distance ofaround 2.5 million kilometres. Fourteen daily connections plybetween Stuttgart - Zürich - Milan, Zürich - Milan - Florence,Geneva - Milan - Venice and Basel/Bern - Milan. On themaintenance side, increased efforts are currently underway toimprove interior standards in the well-utilised trains.Increasing utilisation confirms the appropriateness of measuresintroduced to date, which are continually monitored andsupplemented in order to provide a quality service on long-distance passenger routes across the Alps. ots Original Text Service: Cisalpino AG Internet:http://www.presseportal.de Contact: Lucio Gastaldi, Managing Director, CISALPINO AG, 3001Bern, Switzerland, Phone +41-31-329 09 01 E-mail:info@cisalpino.com

Internet: www.cisalpino.com 09/07/2002

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