Schweizer Reisekasse (Reka) Genossenschaft
The Swiss Travel Fund (Reka) increased its revenue significantly in 2021 and ended the year on a sharp rise. The record revenues in the Holidays and Investments areas clearly exceeded, in particular due to exceptional effects, the revenues reduced by COVID-19 in the Reka Money operational area. In 2021, the Holidays and Means of payment areas saw significant development. Furthermore, Reka is moving ever closer to its goal of climate neutrality.
The Reka Group, consisting of the Caisse suisse de voyage (Reka) Cooperative and several subsidiaries, achieved in 2021, with CHF 126.1 million, a net income of 27.2% higher than that of the previous year and a annual profit of CHF 11.6 million. This strong consolidated result is the result of an exceptional combination of several factors: an unexpected increase in demand in the Holidays sector, prudent spending behavior due to the uncertain development of the situation, record revenues in investments and successes in real estate sales.
Record demand in the Holidays sector
Operating profit in the Holidays business jumped 32.2% in 2021 to a record CHF 78.4 million. This amount is even 20.5% above the result for 2019, the year before the pandemic. Reka Holidays has grown both in Switzerland and abroad. In Switzerland, Reka has benefited from the fact that the indigenous population has mainly vacationed in the country due to COVID-19. In addition, Reka’s flagship offers, namely holiday apartments away from the main tourist flows, have been very successful due to social distancing requirements. Abroad too, after a very difficult year, the situation has clearly improved. The decline in bookings due to the absence of Swiss hosts was sometimes more than compensated by local hosts. In total, Reka recorded 1.1 million overnight stays.
Reka Money: investment income compensates for below-average consumption
COVID-19 has left its mark when it comes to Reka Money. Indeed, customers used their reduced-price payment method much less than usual due to the many restrictions, in particular the obligation to work from home and the closure of restaurants. Reka thus lost commissions. With CHF 18.2 million and a decrease of -1.4%, the operating result was slightly lower than the previous year, but with -20.2% significantly lower than in 2019. Despite everything, Reka Money users have made extensive use of the possibilities of obtaining it from their employers, with the result that the level of Reka Money in circulation is significantly higher than average. Combined with the good development of the financial markets, this resulted in an above-average return on investments which more than compensated for the low operating income. During Covid 2021, the number of companies that reduced the price of Reka Money for their employees also increased. Which means that after the normalization of the situation, consumption should improve and exceed the pre-pandemic level.
Significant increase in cashless payment methods and digitization step
Reka has been an independent player in the cashless payment sector for several years now. In its transition to cashless means of payment, it made a leap in 2021. While the cashless Reka money share was 50% in 2020, it was 87% in 2021. Since then, it manages nearly half a million customer profiles with a corresponding number of Reka-Cards in circulation. Alongside this transition to cashless payments, Reka continues to continuously develop digital platforms for its customers. In 2021, it launched a new platform for SMEs, which can now process their Reka Money orders independently.
Renovation and extension program of holiday sites well advanced
Reka Holidays is carrying out a comprehensive infrastructure development program with the aim of attracting, alongside its family target group, other categories of customers, particularly for periods outside school holidays. By the end of 2021, 14 of the 20 holiday sites operated by Reka had been modernized and fitted out for this purpose. In 2022, two more sites will be added in Ticino: above Lugano, the completely rebuilt Lugano-Albonago holiday village will open its doors at the end of June and the Magadino site has been completely renovated. In addition, Reka has obtained planning permission for a new building at its La Lenk site.
Reduced carbon footprint
Reka has set itself the goal of becoming climate neutral. In 2021, it has already been possible to avoid 11,243 tonnes of CO2 emissions thanks to CO2-neutral heating and hot water systems. Depending on the sites, different combinations of renewable wood (chips, pellets), geothermal energy and solar energy will be used. At the end of 2021, 49% of heating energy was produced in a climate-neutral way. This share should increase rapidly thanks to several new replacement constructions, as is the case in 2022 with the opening of the new Lugano-Albonago holiday village. Electrical energy has also been neutral for years thanks to the systematic use of certified green electricity.
Overview of 2021 consolidated key figures
En mio de CHF 2021 2020 Revenus nets 126,1 98,9 - Argent Reka 18,2 18,5 - Vacances Reka 78,4 59,2 - Placements 28,5 20,0 - autres 1,0 1,2 Bénéfice brut 89,4 67,3 Résultat d'exploitation 11,7 -0,3 Résultat annuel 11,6 0,2
Contact person for further information:
Roger Seifritz, director, tel. +41 31 329 67 67
Download of the press release and photos: https://reka.ch/medias
Download of the 2021 activity report: https://reka.ch/rapportsdegestion