"FairPlay Properties" REIT published its financial statement for the first quarter of 2013

• BGN 93 thousand operational profit;
• BGN 4,761 mln. net revenues from sales,

Sofia, April 30, 2013

   „FairPlay Properties” (FPP 6F3) has concluded the first quarter of 2013 with a positive financial result at the amount of BGN 93 thousand.

   According the statement, the comprehensive income from the activity of the Company, amounts to BGN 4,761 mln. which is 7% decrease in its volume in comparison with the end of the same period of the previous year. They are formed by the recorded sales of 24 apartments in the complexes "Santa Marina", Sozopol, "St. Ivan Rilski", Bansko and "Marina Hill", Chernomoretz. 

   With 47% rises the number of the concluded new sales agreements foe apartments in during the first quarter of 2013, in comparison with the same period of the previous year. The concluded by the Fund new sales agreements amount to BGN 4,6 mln., excl. VAT. The total TBA is 2 395 sq.m.

   In May this year, the most significant project of the Company -the holiday complex "Santa Marina" was distinguished with two awards – "Prix D’Excellence for holiday villages" and the primal award in the competition "Project of the year"

Number of the concluded sales agreements and number of the recorded apartments for the first quarter of  2013 and 2012

 Sales Q1 2013 Q1 2012 %
 Number of the concluded sales agreements   

Number of the apartments

 28 19 47%


 2 395 1 456 64%

 Amount in BGN, excl. VAT

 4 641 838 3 122 49%
 Revenues Q1 2013 Q1 2012 %
 Number of the recorded apartments   

 Number of the apartments

 24 27 -11%


 1 840 1 951 -6%

 Amount in BGN, excl. VAT

 3 808 650 4 135 523 -8%

Key financial indicators of the Company
as at 31.03.2013 and 31.03.2012 (in thousand BGN)

 Indicators in thousand BGN Q1 2013 Q1 2012 %
 Net revenues from sales of production (apartments) 3 809 4 136-8% 
 Operational revenues 4 761 5 125 -7%
 Operational costs 4 668 4 931 -5%
 Financial costs 357 441 -19%
 Financial results 93 194 -52%
 Net Asset Value (NAV) 66 066 68 713 -4%
 NAV per share 1,18 1,23 -4%

   At the end of March, the Company has 67 not concluded sales agreements, that are expected to realize additional revenues of BGN 12,9 mln until the end of 2015.
   “FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 57.3% share in the capital, the rest of the shareholders are institutional investors (10 pension, 20 mutual funds and investment companies) and over 420 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;

  • The holiday village "Santa Marina: is distinguished with the primal award in the competition of FIABCI Prix D`Excellance, April 2013.

More information:
Snezhana Yotinska, Investor Relations Director
Tel.: 02/ 8 199 121; e-mail: s.yotinska@fpp.bg