• BGN 194 thousand profit from the Activity
• BGN 5,125 mln. net revenues from sales
Sofia, April, 20 2012
„FairPlay Properties” (FPP 6F3) ended the first quarter of 2012 г. with a positive financial result of BGN 194 thousand.
For the first quarter of 2012, the Fund has signed new contracts for the sale of 19 apartments with total area 1 456 sq. m. and BGN 3, 123 mln value, excluding VAT.
| Sales | Q1 2012 | Q1 2011 | % |
| Number of sale contracts | |||
| Number of apartments | 19 | 17 | 12% |
| sq.m. | 1 456 | 1 367 | 7% |
| Value in BGN, excl. VAT | 3 122 882 | 2 456 166 | 22% |
| Revenues | Q1 2012 | Q1 2011 | % |
| Number of reported apartments | |||
| Number of apartments | 27 | 13 | 108% |
| sq.m. | 1 951 | 970 | 101% |
| Value in BGN, excl. VAT | 4 135 523 | 2 154 866 | 92% |
| Indicators in BGN, thousand | Q1 2012 | Q1 2011 | % |
| Net revenues from sale of production (apartments) | 4 136 | 2 155 | 92% |
| Income from operations | 5 125 | 3 292 | 56% |
| Operating costs | 4 931 | 3 466 | 42% |
| Financial results | 194 | -174 | 212% |
| Financial costs | 441 | 675 | -35% |
| Net Asset Value (NAV) | 68 713 | 70 477 | -2,5% |
| NAV per share | 1,23 | 1,26 | -2,4% |
As at the end of March 2012, the Company has 97 pending sales contracts that are expected to realize additional revenue of BGN 17,98 mln until the end og 2013.
***
“FairPlay Properties” REIT
is listed on the BSE – Sofia on 17th of February, 2006. Major
shareholder in the company is “FairPlay International” with 64.67% share
in the capital, the rest of the shareholders are institutional
investors (10 pension, 20 mutual funds and investment companies) and
over 340 individuals and legal entities, retail investors.
The Company has received many prestigious awards, including:
• „Company with best Corporate governance for Special investment purpose Companies, 2006”, Investors` Association in Bulgaria;
• „Best IR Website”, the Bulgarian Association of Investor Relations Directors for 2008;
• Second place in the Annual rating of Dnevnik newspaper – “Top 100 best companies on the stock exchange in Bulgaria in 2009” in the category “Best REIT for properties”.
The Projects of the Company have also received many prestigious awards, including:
• The largest project of the Company – the holiday complex “Santa Marina”, Sozopol with award „Holiday complex of the Year” from the competition „Building of the year 2006” and award for its webpage in the category „Best Real Estate Website” from the international web festival Albena; 2008;
• „Best Marine Project” for the holiday village “Santa Marina”, Sozopol – from the international competition „Best Project 2009”, organized in the frame of the initiative Year of Bulgaria in Russia;
• Golden award “Best Holiday Village of 2010” for the project “Santa Marina” in Sozopol from the Russian magazine Homes Overseas;
• Annual Award for 2009 of the Bulgarian Hotel and Restaurant Association (BHRA) in the category “Best four star resort hotel” for the project of the Company SPA Hotel “St. Ivan Rilski”, Bansko;
• Annual Award “Best Holiday Village of 2010” of the Bulgarian Hotel and Restaurant Association (BHRA) for the project “Santa Marina” in Sozopol.
———————————————————————-
More information:
Snezhana Yotinska
Investor Relations Director
Tel: 02/ 8 199 121
e-mail: s.yotinska@fpp.bg
