- BGN 908 thousand operational profit
- BGN 1,053 million financial result for distribution
- BGN 14,348 million net sales revenues
"FairPlay Properties" REIT completes the first half of 2012 with a positive financial result at the amount of BGN 908 thousand. The net revenues from sale of production almost remain unchanged in comparison with the same period of the previous year and amounts to BGN 14.348 million. 91% of it, or BGN 13.011 million are formed by the recorded sales of 81 apartments from the complexes " Santa Marina", Sozopol, "St. Ivan Rilski" Bansko and "Marina Hill", Chernomoretz.
The other revenues of the Company are formed by revenues from rental income and operating investment properties.
As at June 30, 2012, the Fund has concluded 60 new sales agreements for apartments. The total value of the concluded agreements amounts to BGN 10,591 million, exclusive of VAT.
Number of concluded sales agreements and number of the recorded apartments as at 30.06.2012 and 30.06.2011 ( in thousand BGN)
| Sales | Н1 2012 | Н1 2011 | % |
| Number of concludes sales agreements | |||
| Number of apartments | 60 | 70 | -14% |
| sq. m. | 4 969 | 5 830 | -15% |
| Value in BGN, excl. VAT | 10 590 574 | 12 647 614 | -16% |
| Revenues | Н1 2012 | Н1 2011 | % |
| Number of recorded apartments | |||
| Number of apartments | 81 | 77 | 5% |
| sq. m. | 6 123 | 6 188 | -1% |
| Value in BGN, excl. VAT | 13 010 695 | 13 293 539 | -2% |
Company`s basic financial indicators towards 30.06.2012 and 30.06.2011 (in thousand BGN.)
| Indicators in thousand BGN. | H1 2012 | H1 2011 | % |
| Net revenues from sale of production (apartments) | 13 011 | 13 294 | -2% |
| Operational revenues | 14 348 | 14 993 | -4% |
| Operational costs | 13 440 | 14 028 | -4% |
| Financial result | 908 | 965 | -8% |
| Interest expenses | 811 | 1 278 | -37% |
| Financial expenses | 872 | 1 350 | -35% |
| Net Asset Value (NAV) | 67 417 | 71 616 | -6% |
| NAV per share | 1,21 | 1,28 | -5% |
***
“FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 64.57% share in the capital, the rest of the shareholders are institutional investors (10 pension, 20 mutual funds and investment companies) and over 400 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.
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More information:
Snezhana Yotinska
Investor Relations Director
Tel: 02/ 8 199 121
e-mail: s.yotinska@fpp.bg
