• BGN 11,184 mln net revenues from sales;
• BGN 833 thousand loss from the activity.
Sofia, July 30, 2014
„FairPlay Properties” REIT concludes the first half of 2014 with BGN 11,192 million revenues from the activity and negative financial result at the amount of BGN 833 thousand. The net revenues from sales amounts to BGN 11,184 and marks decrease of 5% in comparison with the same period of the previous year. The revenues from sales of production amounts to BGN 5,457 million or 49% of the revenues from the activity. They include the revenues from the recorded sales of 33 apartments (in the holiday village "Santa Marina", Sozopol, the holiday village "St. Ivan Rilski", Bansko and "Marina Hill", Chernomoretz). The rest of the incomes are formed by sales, rents and exploitation of investment properties.
As at June 30th, the Fund has concluded 20 new contracts for sales of apartments. The total value of the concluded contracts is BGN 3,238 million, excl. VAT.
Number of the concluded contracts for sales and number of the recorded apartments for the first half of 2014 and 2013
Sales | H1 2014 | H1 2013 | % |
| Number of the concluded sales | |||
Number of the apartments | 20 | 44 | -55% |
sq.m. | 1 689 | 3 504 | -52% |
Amount in BGN excl. VAT | 3 328 201 | 6 801 563 | -52% |
Revenues | H1 2014 | H1 2013 | % |
| Number of the recorded apartments | |||
Number of the apartments | 33 | 57 | -42% |
sq.m. | 2 847 | 4 605 | -38% |
Amount in BGN, excl. VAT | 5 686 739 | 10 084 923 | -44% |
Main financial indicators of the Company as at 30.06.2014 and 30.06.2013 (in BGN, thousand)
Indicators in thousand BGN | H1 2014 | H1 2013 | % |
| Net revenues from sales of production (apartments) | 5 687 | 10 085 | -44% |
| Revenues from the activity | 11 192 | 11 728 | -5% |
| Activity cost | 12 025 | 11 009 | 9% |
| Financial result | -833 | 719 | -216% |
| Interest costs | 544 | 709 | -22% |
| Financial costs | 554 | 709 | -22% |
| Net Asset Value (NAV) | 53 005 | 64 906 | -18% |
| NAV per share (BGN) | 0,95 | 1,16 | -18% |
As at the end of June 2014, the Company has 27 concluded sales contracts, that are expected to realize additional income of BGN 4,3 million until 2015.
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“FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 56.36% share in the capital, the rest of the shareholders are institutional investors (10 pension, 16 mutual funds and investment companies) and over 400 individuals and legal entities, retail investors.
The Projects of the Company have also received many prestigious awards, including:
The Holiday Complex “Santa Marina” is the first Bulgarian holder of the prestigious award Prix d’Excellance Golden Winner, May 2014;
The holiday village “Santa Marina” holds the great reward in the competition FIABCI Prix D’ Excellance Awards, April 2013;
The Holiday complex „Santa Marina” was distinguished with the prize “Best Holiday Village 2010” from the Bulgarian Hotel and Restaurant Association;
The holiday village “Santa Marina”, Sozopol owns the Golden prize “Best Project in Bulgaria” from the Russian magazine „Homes Overseas”;
The holiday village “Santa Marina”, Sozopol is the holder of the award “Best Marina Project” from the international competition “Best project 2009”, organized in the frame of the year of Bulgaria in Russia;
The project of the Company Hotel, SPA and Apartments “Saint Ivan Rilski”, Bansko was distinguished with an award from the Bulgarian Hotel and Restaurant Association for “Best holiday 4-star hotel in Bulgaria 2009”;
The webpage of the holiday village “Santa Marina”, Sozopol was awarded as “Best website in the Real Estates category” from the international web festival “Albena 2008”;
The larges project of the Fund – the holiday complex “Santa Marina”, Sozopol holds the prize “Holiday complex of the Year” from the competition “Building of the year 2006”.
The Company is a holder of plenty of prestigious awards such as:
„Investor of the Year” in the Tourism sector for 2013 for the investment of the Company in the Holiday village “Santa Marina”, Sozopol;
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”.
„Best IR Website”, the Bulgarian Association of Investor Relations Directors for 2008;
„Company with best Corporate governance for Special investment purpose Companies, 2006”, Investors Association in Bulgaria;
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More information:
Snezhana Yotinska, Investor Relations Director
Tel.: 02/ 8 199 121; e-mail: s.yotinska@fpp.bg
