Bulgaria to present golf and tourism at an exhibition in India Bulgaria to present golf and tourism at an exhibition in India Bulgaria will participate in the International Tourism Exhibition South Asia Travel and Tourism Event /SATTE/ in India, which will be held in New Delhi from January 16 to January 18, and in Mumbai from January 21 to January 22, the Ministry of Economy, Energy and Tourism announced. More than 600 industry representatives from over 50 countries are expected to participate in the exhibition. Our country will take part for the first time. The Bulgarian stalls are expected to be attended by about 6,500 Indian and Asian regional tour operators and interested companies. There will be individual meetings for the participants in the exhibition. Golf, sea, spa and wellness tourism will be the emphasis of our presentation, as well as the presentation of Bulgaria as a year-round tourist destination, combining beautiful nature, cultural heritage and good value for money in its sea and mountain resorts. Bulgaria will be represented by four travel companies - Albena JSC, Boyana MG Ltd., Five Directions Ltd. and Sofia SITA - Sofia Independent Travel Agency Ltd. The specialised tourism exhibition SATTE is South Asia's most prestigious event and has the largest impact on the Indian market, MEET specified.
Source: Class (17.01.2013)

Chinese are building a holiday resort near Aksakovo ÎãðîìíîA huge holiday village is to be constructed at the Bulgarian sea side. It is located between village of Kantardjievo and Albena resort. The project started several years ago under the initiative of French investors. After that the investment was transferred to Englishman, who in their place sold it to Chinese. The property has an area of over 3000 acres. The holiday resort is aimed at the Russian market. Completion of the complex is ongoing.
Source: Other (22.01.2013)

The Bulgarian Stock Exchange (BSE) announced on Wednesday changes in the composition of four of its indices, effective from March 18. The bourse will remove from the blue-chip SOFIX index fertiliser producer Neochim and Corporate Commercial Bank and will include resort operator Albena and agribusiness company Zarneni Hrani Bulgaria, the Bulgarian Stock Exchange (BSE) said in a statement. The SOFIX index tracks the 15 most liquid shares on the BSE. Six companies will leave the the broader BG40, which includes the 40 most traded shares. Those are hardboard maker Fazerles, cigarette filters maker Yuri Gagarin, real estate investment trust Aktiv Properties, Bulgarian-American Credit Bank, real estate investment fund Agro Finance and the BSE. They will be replaced by CEZ Razpredelenie Bulgaria, Energo-Pro Sales, Energo-Pro Grid, fuel retailer Petrol, printing and advertising firm Billboard and car battery manufacturer Elhim Iskra. REIT FairPlay Properties will replace Aktiv Properties in the composition of the BG-REIT index, which tracks the performance of real estate investment trusts. The bourse will also remove renewable energy company Energoni, investment company Albena Invest Holding, Doverie United Holding and investment trust Agro Finance from the BG TotalReturn30, in which companies with a free float of at least 10% have equal weight. They will be replaced by diversified company Industrial Capital Holding, Galata Investment Company, Energo-Pro Sales [BUL: 4ES] and ship repairer Odessos. The BSE has one more index – the CGIX Corporate Governance index, which includes companies strictly applying corporate governance principles. The bourse will not make changes to its composition.
Source: investor.bg (07.03.2013)

Resort Company Albena is to increase capacity of its two airports located in Primorsko and Lesnovo, close to Elin pelin. The investment in each of them is assessed at BGN 2.5-3 million. The projects envisage lengthening of runways by 300 meters, as these will be fully reconstructed. At present the two airports are certified for airplanes with a maximum takeoff weight of 5,700 kg. The project in Primorsko is at a more advanced phase. Reconstruction is hoped to start in 2014. The investor is Primorsko club, which is also property of Albena. It was a part of Albena’s assets, but in the end of 2011 was separated into a subsidiary. The project also provides for extending the runway by 300 meters and the construction of a second platform, and Air Park, which can be used by flight crews to stay and rest.
Source: Capital (15.03.2013)

Albena AD plans to expand its two airports Bulgarian resort operator Albena plans to increase the capacity of its two airports in Lesnovo and Primorsko. The company, which operates the airports through its Intersky unit, intends to invest between BGN 2.5 million BGN and 3.0 million in each of the airports. The upgrade will increase the length of the runways by 300 metres, enabling the two airports to service larger business jets. The airports of Lesnovo and Primorsko currently service aircraft of up to 5,700 kg in maximum take-off weight. Lesnovo is located near Bulgaria's capital Sofia, while Primorsko is a seaside resort in the southeastern part of the country. The aim is the airport to be used yearly by visitors attracted by various tourist and sporting services offerred by resorts and golf complexes. At the airport in Primorsko a second platform will build so that the airpark is used by flight crews to stay and rest. Plans are to expand for the needs of small business and aviation, parachuting and gliding.
Source: Construction City (01.04.2013)

Bulgarian resort operator Albena plans to build a biomass plant for electricity and heat generation, local media reported on Friday. The plant will be built by Albena’s subsidiary Perpetuum Mobile BG, news portal Investor.bg reported. The project will be financed through a 3.2 million euro ($4.18 million) loan from Bulgaria’s Societe Generale Expressbank. Albena's shareholders will vote on the loan at the general meeting scheduled for May 18. The loan will be taken out for a period of nine years and its repayment will begin on July 31, 2014. It will carry an interest equal to one-month Euribor plus 5.4% during the construction of the plant, and one-month Euribor plus 4.84% during the remaining period.
Source: investor.bg (15.04.2013)

Bulgarian resort operator Albena [BUL:6AB] said on Thursday it plans to distribute a gross dividend of 0.75 levs ($0.50/0.38 euro) per share for last year. The decision will be put to the vote at a general shareholders’ meeting scheduled for May 18, Albena said in a statement filed to the Bulgarian Stock Exchange (BSE). The company's 2012 net profit totalled 16.7 million levs. Last year the company distributed a net dividend of 0.24 levs. Blue-chip Albena last traded 2.17% lower at 45 levs on the BSE, as just three shares changed hands by 0924 GMT.
Source: investor.bg (19.04.2013)

Chinese tour operators were impressed by Albena Black Sea resort. The Asians are visiting for the Bulgarian-Chinese forum "Discover and Invest in Bulgaria", which was held in the city of Plovdiv. Besides the modern hotels and endless beaches, the Chinese particularly liked the natural apple juice produced from the fruit of gardens. Statistics show that an average Chinese tourist spends an average USD 1,000 beyond the accommodation and transport costs on a journey abroad.
Source: Standart (07.06.2013)

"Albena" with growth of tourists "Albena" AD realized 344 000 tourist accommodations at the end of June, which is an increase of 3% over the same period last year. This shows publicized interim report for the public company. The company's revenues reached 14.4 million levs, having increased by 14% compared to the same period in 2012. As a result, financial company reported a loss of 11 million lev. Due to the seasonal nature of its business "Albena" realized mainly spending the beginning of the tourist season and therefore the financial results for the second quarter is negative, it is explained in the report. Realized costs of 25,317,000 Levs are 7% more than in the first half of 2012 as part of the program are invested more money for hotel and restaurant furniture and equipment is stated in the report of the company, managing the northern Black Sea resort.
Source: Dnevnik (05.08.2013)

Subsidiary company of the Albena resort – Intersky, which is the owner of the airport in Lesnovo, plans to raise BGN 3 million through public offering of shares. The prospectus for the capital increase was approved at the last meeting of the Financial Supervision Commission. It is not clear whether the company will seek outside investors, or Albena intends to take the entire increase. Probably the raised amount, or at least much of it, will be used to increase the capacity of the site near the town of Elin Pelin. In March, the Executive Director of Albena Krasimir Stanev said they plan to increase the capacity of their two airports - in Primorsko and Lesnovo. According to the reports and the website of Lesnovo, the company is also an operator of the eponymous site for airplanes, and intentions are for Primorsko Club, also a subsidiary of Albena, to be the investor in the seaside airport.
Source: Capital (16.09.2013)

The Bulgarian municipality of Balchic will make a second attempt to sell its 7.46% stake in resort operator Albena JSC through a tender offer. The municipal council has decided to look for a financial intermediary for the transaction. The stake comprises 304,570 voting shares with a face value of BGN 1. The proceeds from the sale will be used for the repayment of a bank loan and co-financing of EU-funded programs. Balchik tried to sell its stake in Albena in 2012 but its offer failed to attract investor interest. The municipality received dividends from Albena for 2010 and 2011 but is still awaiting its reward for 2012, mayor Nikolay Angelov said. Albena booked a consolidated net profit of BGN 18.1 million for 2012, on a revenue of BGN 98.5 million.
Source: Capital (01.10.2013)

20% of Agro finance transferred via stock exchange A big transfer of 20% of Agro finance REIT was initiated via the stock exchange in Thursday. The deal is assessed at BGN 15.1 million. In a matter of a single deal 6 443 941 shares were traded at a price of BGN 2.345 for a lot. Among company’s big shareholders are E. Miroglio Finance, Radiant Technology, COOP investment, Corporate commercial bank, Nikkomers 01. Parameters of public offering for capital increase of Intersky AD were also announced. The company tries to raise BGN 3 million in order to modernize its track near Elin Pelin. These improvements are planned to make accepting flights of business jets possible. It is hoped that the upgrade will attract new investors, as well. Major shareholder in Intersky is Albena AD with a 99.99% share.
Source: Capital (04.10.2013)