The audited financial statements of the Company report a financial result for distribution of BGN 114 thousand.
According to the audited financial statement as of 31.12.2017, the proceeds from the activity of FairPlay Properties REIT amounted to BGN 14.2 million and registered a growth of 68% compared to the same period of the previous year. The increase was mainly due to the increase in the number of reported sales of apartments as a result of the development of the Company’s project in Malinova Dolina, Sofia.
At the end of December 2017, the Fund’s operating expenses increased by 48% on a yearly basis and amounted to BGN 12,199 million. In the total value of expenditures by economic elements the main share (22%) accounted for the expenses for external services (2,758 million) and the book value of the sold assets (apartments) – 71% (BGN 8,708 million). The interest rate expense at the end of 2017 was BGN 346 thousand and decreased by 29% compared to 2016 years.
The accounting result of the Fund for the financial year 2017 is a loss of BGN 419 thousand.According to the audited annual report as at 31.12.2017 the financial result for distribution is BGN 114 thousand.
***
"FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International”, the rest of the shareholders are institutional investors (8 pension and 14 mutual funds) and over 260 individuals and legal entities, retail investors.
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;
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 largest 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”.
***
More information:
Milena Zaharieva – Silagi,
Investor Relations Director
Tel.: 02/ 8 199 103; e-mail: office@fpp.bg
