For decades, the Allgäuer Überlandwerk (AÜW) and Energieversorgung Kleinwalsertal (EVK) have had a lasting impact on the region through their involvement with Kleinwalsertaler Bergbahn AG – together with Walser Raiffeisen Holding (WRH) – and have successfully promoted tourism development. The municipality of Mittelberg, together with WRH, is now acquiring the 51% stake in Kleinwalsertaler Bergbahn AG (KBB) previously held by AÜW and EVK.
Future Package: Major Investments for the Region
The acquisition of the KBB shares is accompanied by a comprehensive future package with an investment volume of over €200 million, which was jointly developed by the partners WRH, AÜW, and EVK. It includes strategic investments in infrastructure and quality assurance to further strengthen Kleinwalsertal as a leading tourism destination. The focus is on the necessary reconstruction of the Walmendingerhornbahn cable car, which is scheduled to be completed by 2026. In the medium term, the modernization of the Kanzelwandbahn cable car (2029) and the construction of a new snowmaking pond on the Fellhorn (2030) are also planned. These measures are essential to maintaining the attractiveness of the cable cars and expanding the offerings for guests and locals alike.
"The decision to take over was made in close consultation between all parties involved. Our common goal is the timely implementation of the future package. This will secure the long-term economic stability of the mountain railways, thus creating the basis for continued successful tourism development and promoting prosperity in the valley. Each owner should concentrate on their core tasks – the municipality and holding company on the development of the railways, AÜW and EVK on the energy future of the region. What I am particularly pleased about is that the purchase of the shares and thus the assumption of responsibility for the mountain railways has been fully supported in the valley. At yesterday's municipal council meeting, all municipal representatives unanimously approved the purchase across all political parties. I would like to take this opportunity to thank everyone. And of course, we will remain shareholders of AÜW," explains Andi Haid, Mayor of Mittelberg.
"Tourism, and especially mountain railways, have always been and remain the focus of AÜW's investments. As a regional electricity supplier and energy service provider, the economic development of the entire region is of utmost importance to us. In addition to our corporate involvement with the Ofterschwanger Bergbahnen and the Alpspitzbahn in Nesselwang, we are acquiring KBB AG's 24.9% stake in Nebelhorn AG, thus remaining a strong partner of the Oberstdorf Kleinwalsertaler Bergbahnen. We are pleased that Kleinwalsertal is ready to meet the financial challenges of the future, allowing us to concentrate on the future of energy," emphasizes Thomas Kiechle, Mayor of Kempten and Chairman of the Board of Directors of AÜW.
Focus on core tasks
The acquisition of the shares is based on strategic considerations and is a logical consequence of the diverse requirements facing the existing shareholders. AÜW and EVK are facing the challenges of the energy transition and will focus even more strongly on the necessary expansion of renewable energies and the associated grid expansion in the Allgäu and Kleinwalsertal regions.
"The mountain railways in Kleinwalsertal and on the Fellhorn have always been a matter close to our hearts. They have shaped our understanding, our thinking, and our actions for years. In the coming years, our focus will be even more on the future of energy, which requires enormous investment. Despite our close ties, now is the right time to refocus. That's why we have developed this solution together – in the interests of all partners and the region," says AÜW Managing Director Michael Lucke.
WRH, on the other hand, sees it as its mission to strengthen the tourism destination in the long term and secure the necessary investments. "It was clear to us that we had to assume this responsibility, as the future package is crucial for the competitiveness of the mountain railways. At the same time, however, we were also aware that we could not and did not want to bear this responsibility alone – the strategic importance of the mountain railways is too great for that. We are therefore very pleased that we were able to involve the municipality in the solution. In the future, we will share decision-making authority on the supervisory board with the municipality, even though the holding company holds a majority stake," explains Tom Egger, Deputy Chairman of the Supervisory Board of the holding company.
"I would like to take this opportunity to expressly thank AÜW and EVK as well as the city of Kempten for giving us the opportunity to acquire the shares and ensure the timely implementation of the future package," emphasizes Dr. Andreas Gapp, CEO of Walser Raiffeisen Holding.
Close cooperation between the mountain railways and the destination will continue.
The corporate restructuring of the mountain railways in Kleinwalsertal will have no impact on operational cooperation in the region or within OK Bergbahnen. "Guests will continue to enjoy a skiing experience from a single source. No matter which of our seven mountains they are on, they will experience the OK Bergbahnen brand and the consistent quality promise. Collaboration in areas such as marketing, accounting, and pricing will naturally continue, as will the close cooperation within the IG Skipass. As OK Bergbahnen, we are and will remain the destination's strong partner," Dr. Gapp continued.
Inquiries:
Michael Lucke
Managing Director of Allgäuer Überlandwerk
tel: +49 (831) 2521-201
Andi Haid
Mayor of Kleinwalsertal
tel: +43 5517 5315-240
email: verwaltung@gde-mittelberg.at
Dr. Andreas Gapp
Member of the Board of Walser Raiffeisen Holding
Mobile +43 5517 2078-018
Email a.gapp@raiffeisenholding.at
