Bibi, Tina, and Alex are in Hungary visiting Szendrö Manor to celebrate the birthday of Mikosh's horse Baboshko, but they're unable to get into a festive mood. It's winter, and there's a wolf roaming about looking for food. When the locals get ready to hunt down the poor creature, the friends are horrified, and they try to help him.

Bibi, Tina, and Alex are looking forward to the Falkenstein endurance race, and plan to enter as a team. Then Elisabeth, whose mother is a friend of the Count's, pays them a surprise visit. She wants to compete in the race too, but she can't ride alone. She decides to win Alexander for herself instead. Will she succeed?