The net non-consolidated income of Albena JSC for 2005 is BGN 17.723 mln, 9.25 percent higher than the 2004 profit of BGN 16.223 mln. The profit rose on the increased net sales revenues by 9.66 percent. The net income of Albena for the nine months of 2005 reached BGN 24.6 mln but because of the seasonal nature of its business (summer sea resort) it decreased at the end of the year.
Source: Monitor (02.02.2006)

For the eighth time in a row Bulgaria will participate in the International Tourist Exhibition Holiday World in Prague from February 23 until February 26. Holiday World is the most significant tourist event in Central Europe for image representing of destinations. Exhibitors on the Bulgarian counter are Bulgaria Air, Union of the owners - Sunny Beach, DM-Travel LTD, Albena JSC and others.
Source: Pari (22.02.2006)

Some 6,500 Austrian pensioners will spend their summer vacation in Black Sea resort Albena, Elena Georgieva, manager of German Market sector in the Bulgarian seaside resort, reported. For a fourth time the Union of Austrian Pensioners organizes a vacation in Albena for its members. The tourist season will be opened on March 1 when some 150 guests are expected; they will be accommodated at the renovated Dobroudzha hotel.
Source: Standart (24.02.2006)

The first 150 guests who will open the new summer season in Albena at the Black Sea coast arrive on March 1. This is the Day of Baba Marta or Grandma Marta. It is an ancient Bulgarian custom to wear red and white tassels - martenitsi - during March, as a symbol of good health and fertility. The information came from the Marketing and Sales department of the resort. The tourists come from Germany and their visit has been organized by the German tour operator Verreisen. Bulgarians decided to present the tourists with martenitsi and tell them the legend of Baba Marta. Verreisen is a tour operator that specializes in spa tourism. Another tour operator, called Resort Club working with the Bulgarian seaside resort Albena will bring a group of 70 German tourists on March 13. Tourists brought by the Austrian tour operator Senioren Reisen will visit the Bulgarian resort from April 11 to April 17. The Austrian Pensioners' Union will organize the trip of 6500 guests. Last year, the Austrians chose once again the Albena Resort after their vacation was spoiled by the mass construction on the Bulgarian southern Black Sea coast. The first Frenchmen arrive on April 29. Tourists from other countries are expected on May 5 and 6.
Source: Standart (27.02.2006)

The industrial association in Stara Zagora considers setting up a new cluster association of the tourist agents operating in the area between the city of Shipka, where the valley of the Thracian rulers is and the ancient medieval fortress of Perperikon near Kardjali, executive director of the city's industrial association , Ivan Lenkov said. Krassimir Stanev, executive director of Albena JSC will meet with Stara Zagora mayor Evgeniy Zhelev and regional governor Maria Neykova in March 2006 to discuss the project. Albena shows interest in the Stara Zagora mineral spa resort and the airport near the city, which is still under the jurisdiction of the interior ministry. A total of 23 producers of traditional Bulgarian foods in the region of Stara Zagora set up a cluster association on February 24, 2006.
Source: Pari (28.02.2006)

Yesterday at Varna Airport the first foreign tourists were welcomed with bread, salt and folklore dancing. 150 Germans will rest in Albena Resort. According to data by the carrier Varna Airport expects 10 per cent increase of the tourists in 2006.
Source: Sega (02.03.2006)

Bulgaria's Albena JSC and its subsidiaries posted a BGN 20.672 million net profit for 2005, the consolidated report of the company shows. The positive financial result last year increased by nearly 22% compared to 2004, when the company logged a BGN 17 million profit. Albena's sales income surged by BGN 7.5 million (8.8%) in 2005 to BGN 93 million. Its business expenses also rose: by 8.4% to BGN 71 million. The financial expenses of the group went up by BGN 350,000. The long-term liabilities to financial institutions increased by more than BGN 15 million.
Source: Pari (06.03.2006)

The 40th jubilee edition of the biggest tourist exhibition in the world will be held from March 8 until 12, 2006 in Berlin - ITB Berlin, where Bulgaria would be presented with national counters on area of 300 sq.m. The Bulgarian participation if for 38th time in succession and would be supported by 45 Bulgarian tourist companies and organizations among which are: Albena JSC, Alma Tour - BG JSC, Astral Holidays JSC, Balkan Holidays Services LTD, Balkantourist JSC, Bora Consult 2002 LTD, Bulgaria Air SPJSC, Bulgaria Holidays SPLTD, Balgerian VIP Tours LTD, Victoria Tour JSC, Delta 2001 SPLTD, DM-Travel LTD, Duni JSC, Class Holidays LTD, Kras plus LTD, Riviera JSC, Royal Holiday SPJSC, Sunny Beach JSC, Sunny Day JSC, Strimon Club LTD, Sunny Travel SPLTD, Tourist Service Holding JSC, Ustrem-97 - Sofia LTD, Festa Hotels SPLTD and others.
Source: Agency Focus (07.03.2006)

Hotel chain RIU, part of travel concern TUI, will add another hotel complex on the Bulgarian coast near the resort of Obzor in the summer of 2006, sales manager for Bulgaria and Romania Andre Hempel said. Club Hotel RIU Miramar will be RIU's second Bulgarian hotel outside the resorts of Sunny Beach and Golden Sands. The 500-room four-star hotel complex will consist of 25 buildings and gardens sprawling over 14,000 sq m. The complex, which will be marketed as an all-inclusive destination, will have several bars and restaurants, a conference hall, an indoor swimming pool and two outdoor swimming pools, a gym, a hairdresser's and a beauty parlour. RIU, which started operations here in 1999, runs 8 hotels - the Viva Club, Arabella and Bolero in Golden Sands, and Helena Sands, Helena Park, Helios, Club Hotel RIU Evrika in Sunny Beach, and Helios Bay in Obzor. The operator had lent its brand to the Gergana, Mura and Slavuna hotels in Albena but the resort terminated that contract in 2004.
Source: Dnevnik (09.03.2006)

BGN 17.723 mln is the non-consolidated profit of Albena JSC for 2005. The consolidated profit for 2005 is BGN 20.792 mln compared to BGN 16.981 mln for 2004. About 50 percent of the bookings at Albena are made by German tourists.
Source: Darik Radio (10.03.2006)

The market capitalization of the public companies, traded at the Bulgarian Stock Exchange, exceeded the limit of BGN 9 billion, and is now BGN 9.028 bln. The monthly data, released by BSE, headed by Ms. Bistra Ilkova, showed that the capitalization of the companies to the end of February was BGN 8.993 bln, and BGN 8.85 bln a month earlier. BTC is still having the highest market capitalization – BGN 2.963 bln, followed by Sopharma – BGN 580.8 mln, and Petrol JSC – BGN 378 mln. DZI JSC comes fourth with BGN 347.5 mln, and Kremikovtsi – fifth with BGN 333.13 mln.
Source: Monitor (13.03.2006)

About 300 German tourists from Frankfurt and Duesseldorf arrived yesterday at Varna Airport by programme of the German tour-operator Kur Club. They will be accommodated in the Holiday Club Riviera and Sunny Day and in hotels in the resorts of Albena, Golden Sands and St. Constantine according to their financial means. On April 11 the first tourists from Austria will arrive.
Source: Monitor (14.03.2006)

The tender committee has re-checked the eligibility of the companies vying to be awarded the concession contract for the airports in Varna and Bourgas, said transport minister Petar Mutafchiev. The decision of the committee has been notified to Fraport AG Frankfurt Airport Services Worldwide, Vinci Airports-Vinci Concessions, Hochtief AirPort GmbH and Copenhagen Airports, said the official. They will have 14 days to appeal the decision. If the decision is not contested, the government will be asked to name the candidates admitted to the procedure, said Mutafchiev, adding this was likely to happen by May. The official refused to reveal the names of the companies which the tender committee has approved as eligible. A month ago, Bulgaria's Supreme Administrative Court (SAC) rejected Denmark's Copenhagen Airports as the recipient of the concession contract because it was admitted to the procedure despite failing to correct omissions in its tender documents. The court instructed the tender committee to determine if all the candidates meet the requirement for at least two years of experience in running at least two airports with annual traffic of over 2 mln passengers and one airport with annual traffic over 5 mln passengers and for an investment of at least 100 mln euro in an airport project over the past 5 years. Fraport was ranked second behind Copenhagen Airports in the concession procedure. Vinci was ranked third.
Source: Dnevnik (20.03.2006)

General Directorate "Civil Aviation Administration" (CAA) searches for construction company to reconstruct the international terminals of Bourgas Airport. Bourgas Airport and Varna Airport are given on concession, but still it is not clear when the Government will pick the winner of the contest. Few days ago the Minister f Transport Mr. Petar Mutafchiev announced that the contest commission for the concession of the sea airports has checked whether the other candidates - the consortium Fraport / BM Star, the French Vinci and the German-Bulgarian consortium Hochtief / Albena, answer to the terms of the contest. He said that he hopes a new winner to be chosen until the end of May.
Source: Dnevnik (27.03.2006)

Raiffeisen Zentralbank Osterreich AG, Austria's no.3 bank, bought on Mar 24 a stake in Bulgaria's Albena Invest Holding that exceeds 5%, shows the bulletin of the Central Depository. Albena Invest Holding is a former privatisation fund that is 44.7%-owned by Albena JSC which operates the eponymous seaside resort. The holding posted a consolidated net profit of 7.622 mln levs for 2005, triple the year-ago figure.
Source: Dnevnik (28.03.2006)

Nine Bulgarian companies represent the country at the starting today in Bucharest 15th International Tourist Exchange TNT’2006, announced Bulgarian Tourism Agency (BTA). Some of the companies are Albena, Alphatour, Dasa, Landis and Solvex. There are 22 more countries at the exhibition including Greece, Turkey, Serbia, Germany and Italy. According to forecast data of BTA this year is expected increased interest in Bulgaria from Spanish tourists. Philip Group, Gloria Tours and Rivas Tours are the Bulgarian companies represented in Valencia.
Source: Monitor (06.04.2006)

The profit of Albena jumped 6 percent for 2005 and reached BGN 17.174 mln after taxation. The Board of Directors suggests not distributing dividend and the profit to be allocated to the reserves of the company. Nearly 225,000 tourists visited the resort last season, which is an increase by 9.4 per cent.
Source: Standart (02.05.2006)

Albena, the Bulgarian travel company that operates the eponymous sea resort, is negotiating with the defence ministry for joint access to a disused military air base in Balchik, on the Black Sea, said the company's executive director Krasimir Stanev. Stanev said the agreement for the co-use of the facility, giving Albena access to a strip of the runway and one of the hangars, should be signed within a few weeks. Some 35 small jets suitable for airtaxi services have been licensed so far by the Bulgarian aviation authority, estimates Stanev. Albena is already making progress with airport projects in Primorsko, on the Black Sea, and Lesnovo, near Sofia, and plans to built another one near the sea resort of the same name. That project, however, is stalled by litigation over the land ownership rights. The company intends to invest some 100 mln levs in tourist assets along the Southern Black Sea coast, said Stanev. The investment spend will include the renovation of the Biser hotel in Primorsko, the completion of the Primorsko airport and the construction of new hotel in Ahtopol, on the Black Sea, which is a joint project with Albena Invest Holding. Albena has invested 50 mln levs so far this year to upgrade the accommodation facilities in the resort of the same name and now offers 10 four-star hotels.
Source: Dnevnik (02.05.2006)

Albena, the Bulgarian travel company that operates the eponymous sea resort, posted a Q1 loss of BGN 5.51 mln, failing to correct a year-ago loss of BGN 4.855 mln, shows the interim financial report of the company. Non-consolidated profit was reported at BGN 17.17 mln. Q1 sales came in at BGN 1.56 mln versus BGN 1.91 mln a year ago. The company booked asset purchases for BGN 12 mln in Q1 while its own long-term fixed assets stood at BGN 282.5 mln.
Source: Dnevnik (05.05.2006)

The Bulgarian Telecommunications Company (BTC) has the largest market capitalisation of BGN 2.954 billion among listed companies, Bulgarian Stock Exchange (BSE) monthly bulletin data showed. Trailing by a huge margin, Sopharma ranks second with a market capitalisation of BGN 613.8 million. The Bulgarian American Credit Bank, one of the most recently listed companies on the bourse, occupies the number three spot with a market capitalisation of BGN 409 million. Three more banks make it to the top 20 enterprises on BSE in terms of market capitalisation. These are the Central Cooperative Bank (CCB), Economic and Investment Bank (EIBank) and DZI Bank with a market capitalisation of BGN 315.2 million, BGN 301.5 million and BGN 190 million, respectively. Tobacco blue-chips Blagoevgrad BT and Bulgartabac Holding, ranked 10th and 11th, respectively. Alcomet rounds out the top 20 with a market capitalisation of BGN 88.8 million.
Source: Pari (09.05.2006)

Bulgaria Air, Sofia Municipality, the acting tour-operators on the Russia market – Albena, Alma Tour – BG, Solvex are presented at the International Tourist Exhibition MITF'2006 in Moscow. It will be held from May 11 to 14, arranged by the State tourism Agency.
Source: Monitor (10.05.2006)

Albena JSC, the Bulgarian tourism company, said it will dispose of its majority stake in the Hotel des Masques in the Swiss Alps, chalking up the investment as a disappointment. The company, which recently announced plans to step on the Montenegrin Adriatic coast, bought the 83% stake in the Anzere hotel 8 years ago.
Source: Dnevnik (26.05.2006)

After Albena-Invest Holding JSC raised its capital, the company possesses 565 471 shares, which is 68,86 per cent of the capital of the subsidiary Albena Autotrans JSC. It’s share at the subsidiary company is now up to 239 529 shares. Albena Autotrans JSC was established in 1971 with main line of business - transporting people and freights in Bulgaria and abroad.
Source: Monitor (07.06.2006)

Real estate developer Bulgarian Land Development said it will start the construction of a holiday complex near Bulgarian sea resort Albena. The building plot on which the complex will be built is located 16 km from the city of Varna and only 1 km from the international E 78 Highway - Istanbul-Bourgas-Varna-Constanza. The complex, which will accommodate 22 detached houses and 97 apartment units with a combined area of 13,000 sq m, should be completed by the end of 2007. The development, located in the vicinity of 3 golf courses, is expected to return 12 mln euro upon completion. Off-plan sales will begin in July. Bulgarian Land Development joined the AIM market of the London Stock Exchange in March 2006, raising 23 mln British pounds. The group is engaged in residential development and expects to operate primarily in the holiday areas of the Black Sea coast and the ski resorts, as well as in Sofia, the capital of Bulgaria. The fund, which is based on the Isle of Man, was established by the managers of Bulgarian realtor Address Group.
Source: Dnevnik (08.06.2006)

Albena JSC will distribute BGN 0,60 per share for previous year, decided the General Meeting of the shareholders. Net profit of BGN 17,174 mln after taxes was reported for 2005. The financial result of the company is 6 per cent bigger than the previous year. 1 per cent of the profit is for remuneration for the Board of Directors. The rest of the money will be for Additional Reserves fund.
Source: Standart (12.06.2006)

Albena JSC - Albena, Bourse code ALB, the annual general meeting of which was held on June 10, 2006, will distribute gross dividend for the year 2005 of BGN 0.60 per share (net amount BGN 0.558). Albena JSC - Albena reported a profit for 2005 in the amount of BGN 17,174,000. The company shall allocate 1 per cent of the after-tax profit for remuneration of the members of the Board of Directors; and the residual part of the profit – as Additional reserves.
Source: Capital market (19.06.2006)

Albena is the largest tourism company listed on the Bulgarian Stock Exchange (BSE). The company owns the Albena and Primorsko resort complexes, as well as the White Laguna holiday resort. The Albena resort complex, located near the Baltata reserve, accommodates 16,000 beds in 43 hotels, as well as 100 eating places and a number of sports and entertainment facilities. Unlike other Black Sea resorts listed on BSE, the company owns the entire infrastructure and all sites on the territory of the complex, which helped the resort keep its wide beach strip and green areas and to avoid overbuilding, which turns into a problem for many other coastal resorts. Albena has made investments for BGN 90 million over the last four years alone. Investments are aimed mainly at modernising and increasing the hotels in the resort and expanding the range of services. Albena also acquired two small airports: the Lesnovo airport near Sofia, which is under construction and the airport in Primorsko, which already services international flights. The company registered an 11% year on year increase in consolidated income for 2005, compared to an average of 8% for the tourism sector in Bulgaria. Managers of the company forecast a 5% income growth in 2006, despite the expectations of a weak holiday season. Albena has also registered a sustained profit growth in recent years (BGN 19.2 million for 2005). This can also be attributed to the improving profit margin (21% for 2005). Albena is in excellent financial condition. The liabilities of the company are curbed to under 33% of its total assets. Albena's stock price in the short term will depend entirely on the financial results of the company in 2006. Provided that the company fulfils its 5% income growth forecast, the stock may appreciate to levels of BGN 80 per share. STRENGTHS - Centralised management of the resort complex; - the resort has natural features and is not overbuilt; - reputed to be the best Black Sea resort in Bulgaria; - long-standing relations with the largest tour operators in Europe; - horizontal and vertical business integration. WEAKNESSES - need for considerable investments - strong competition from the growing number of resorts along Bulgaria's Black Sea coast OPPORTUNITIES - increase in the number of tourists from Western Europe after Bulgaria's EU accession; - raising the category of the hotels and turning Albena into a luxurious European resort; - modernising the Primorsko resort complex; - developing SPA tourism at the White Laguna resort; - attracting tourists in off-peak season; THREATS - Loss of market share to newly established resorts; - poor tourist inflow growth prompted by the worsening of Bulgaria's reputation as a tourist destination due to overbuilding in other resorts.
Source: Pari (14.07.2006)

BG40 ended the yesterday session at –0.75 per cent which is the biggest decrease of two months. For the mentioned period the index has reported negative result only 10 times, and the yesterday drop was the first in 12 sessions. SOFIX however reported fourth serial hike – by 0.07 percent. The price increase in the shares of Orgachim – by 2.8 percent, and Neochim – by 1.29 per cent, was most useful for both indexes. Petrol (+0.3 per cent) was the third company with increased shares price within the SOFIC frameworks, as only 8 of the blue chips were traded. The decreases were three as well - Central Cooperative Bank lost 0.41 per cent of its capitalization, DZI Insurance and Re-insurance JSC dropped by 0.28 per cent, and Albena – by 0.05 per cent. Biovet and Sopharma were traded without change, and the total turnover in the index shrank to 9498 lots. The session’s most traded company reported the highest increase among the 40 positions in BG40 – after 27,846 traded shares of Alcomet their price upped by 5.89 per cent up to the record of BGN 6.11 per share. Right after it came Chimko (+4.55 per cent), Industrial Capital Holding (+4.23 per cent) and Favorit Holding (+4.17 per cent). The drop of Odessos Shiprepair Yard S.A. (by 6.31 per cent) however did not allow the index reach a new record.
Source: Pari (27.07.2006)

Russians are ready to pay up to 100,000 euro for a luxurious flat in the seaside or mountain resorts of Bulgaria, real estate agents told Standart. The most serious buyers of real estates in Bulgaria's holiday villages are Englishmen. Irishmen and Scandinavians. They pay up to 50,000 for an apartment. Most of these foreigners buy real estates in Bulgaria because they hope to make profit from selling them or letting them out for rent. Some real estates have also been sold to Romanian citizens," said Dimitar Savov, CEO of Bulgarian Land Development.
Source: Standart (15.08.2006)

Bulgarian tourism company Albena and the defence ministry have signed a 5-year contract for joint use of the military airfield in Balchik, on the Black Sea. Albena will manage 2 runways and the decommissioned building of the military outfit that was stationed at the airport and will cover repair, upgrade and maintenance costs. As of August 4, Albena was granted a permit by the Civil Aviation Administration to conduct domestic non-commercial flights to and from the Balchik airport. The tourism company, which operates the sea resort of the same name, has invested BGN 2 mln in 2 airports for small jets in Primorsko, on the Black Sea, and near Elin Pelin, in the Sofia region. The company also plans to build a runway near the Albena resort. The Albena airport in Primorsko will host a meeting of members of the Aircraft Owners and Pilots Association towards the end of the summer in a bid to raise Bulgaria's profile among owners of small jets.
Source: Dnevnik (18.08.2006)

The Sofix blue-chip index on the Bulgarian Stock Exchange (BSE) rose by 29.39 points on Wednesday to hit an all-time high of 1002.88 points. The strong performance can be put down to the trade in shares of DZI Insurance and Reinsurance company and DZI bank, which resumed on the day. The stock of the insurer appreciated by 20.6% to an all-time high of BGN 120. DZI Bank gained 26.8% also to hit a record high BGN 7.5 per share. Trade in shares of both insurer DZI and DZI Bank was suspended for nine sessions, until the new owner of the majority stake in the bank would become clear. Greece's Eurobank EFG will pay EUR 157.76 million for 74.26% of the capital of DZI Bank, it emerged at the end of last week. Trade in DZI Bank's shares also influenced the performance of the broader BG40 index, which advanced to an all-time high 181.84 points.
Source: Monitor (05.10.2006)

The Top 20 Listed Companies on the Bulgarian Stock Exchange Evaluated at BGN 8.2 bln The market value of the 20 biggest companies in Bulgaria already totals almost BGN 8.2 bln while the whole capitalization of all Bulgarian Stock Exchange traded companies totals BGN 11.17 bln. The leading spot take BTC and Sopharma JSC. Their market capitalization are valued BGN 2.85 bln and BGN 724 mln respectively. Sopharma’s second spot can be competed not sooner than next month when Chimimport JSC’s shares will be traded on the Stock Exchange. Economic and Investment Bank JSC’s shares hold their record high levels as of last months trade and this is enough for the third place in the standings with a market value of BGN 557.3 mln. DZI took over the fourth place out of the Bulgarian-American Credit Bank as yesterday a pretty “strange” trade of its shares at BGN 120 per share took place. The market value of the two copanies are BGN 463 mln and BGN 423 mln respectively. Petrol JSC takes the sixth spot with a market capitalization of BGN 382 mln while DZI Bank takes the seventh with BGN 343 mln. The other companies that managed to reach a top 10 ranking are Albena JSC, Kremikovtzi JSC and Central Cooperative Bank JSC with market values of BGN 329.8 mln, BGN 296.7 mln and BGN 262.4 mln respectively. Riviera JSC is the latest company that took advantage of the DZI Bank’s sale as it took the 19-th spot with a market capitalization of BGN 100 mln. Riviera JSC took place in the DZI Bank deal as it sold its 7.45% share. The market capitalization of the top 20 ranked companies totals 73.2% of the market value of all listed companies on the Bulgarian Stock Exchange.
Source: Monitor (06.10.2006)

The net consolidated profit of tourism company Albena fell about 12 per cent to BGN 23.44 mln in Jan-Sept versus BGN 26.56 mln a year ago. Consolidated earnings edged up 5 per cent y/y to BGN 92.44 mln while expenses increased to BGN 68.7 mln from BGN 61 mln a year earlier.
Source: Dnevnik (04.12.2006)

"Romanian tourists show keen interest in Bulgaria's Black Sea resorts," says Mr. Minkov as he believes that the current trend is due to excellent quality of services and facilities which the Bulgarian resorts offer. At the same time, the prices in Bulgarian hotels are much lower compared to the prices in the Romania resorts. "In the middle of October, a fair of the tourist industry was held in Bucharest. It then became clear that Bulgarian hotels offer better quality and services than the hotels in Romania. At the fair, the town of Balchik was represented at the stall of Albena Black Sea resort and attracted huge visitors' interest," Mr. Minkov said further.
Source: Standart (13.12.2006)

Bulgaria's Albena 2000 Construction and Engineering has completed BGN 14 million projects in 2006, company manager Hristo Mitev said. As much as BGN 2 million was invested in the company's major project, the Bozhena holiday complex in the village of Bozhentsi. It comprises two blocks of flats and four houses, a spa centre, a restaurant and sports facilities. The company also invested BGN 2 million in a seven-storey apartment and office building in Varna. Investments are planned in two more residential buildings in the city. The company carries out most of Albena AD's construction programme.
Source: Pari (28.12.2006)