Albena : A net profit of nearly BGN 3 million for 2021 in Albena JSCo

Net profit of BGN 2,922,000 is reported for 2021 by Albena JSCo. Company has realized revenues from main activity in the amount of BGN 51,892,000. The company's assets amount to BGN 592,510,000 and the equity is BGN 480,601,000. Today the General Meeting of Shareholders voted to pay an annual dividend of BGN 0.1 per share. The funds will be distributed after a two-year break in the dividend policy adopted back in time. The decision comes at a time when the tourism business is restoring by the three-year COVID crisis, but military action in Ukraine has lowered expectations for overnight stays in 2022 to approximately 70% of the pre-epidemic 2019.

The management of Albena JSCo also registered the dynamics in terms of the proportional distribution of the markets generating income from the main activity. Interest in the Resort from Eastern European countries is relatively stable, generating about 40% of total sales (37% for Romania and 3% for all the others). Among the first places in statistics remains the domestic market with 35%. A recovery of 2% marks another main market for Albena, such as Germany, which in 2021 has 11% ( 9% in 2020 and 19% in 2019). Growth to 4% is observed among tourists from France, and these from the Benelux are relatively constant by 1%. In the year before the war in Ukraine, holders of Russian passports were 8% of those who came for a vacation at the resort.

Despite the remaining turbulence and unpredictability in the market, Albena JSCo is realizing its investment intentions set in the plan for 2021. On June 17 this year opened the completely renovated 5-stars Amelia Hotel, dedicated to Amelia Earhart - the first female pilot flew across the Atlantic Ocean. It is the latest addition to the Deluxe & Lifestyle group, realized together with the French design bureau Borella. Along with it, the completely new concept for Luxury Ultra All Inclusive program was launched, offering top experiences for the guests.

The investments set in 2017 in the Sustainable Development Strategy continue. Solar power plants with a total peak power of 1500 kWh are in operation, distributed on the roofs of 12 hotels in the complex. The investment amounts to nearly BGN 2.5 million. The generated energy is entirely for own needs. Between 2,000 and 2,500 MWh will be saved annually. At current prices, this will lead to savings of over BGN 1 million per year. This is the second such investment since the INVADE project, funded by the European Commission's Horizon 2020 program, in which a 30 kWh solar power plant and an energy storage battery are installed in the Flamingo Grand Hotel & SPA 5 *.

Some of the subsidiaries of Albena JSCo also show positive financial results. Profit in the amount of BGN 311,000 is reported by the official tour operator of the resort Albena Tour. The company for production of renewable energy from biodegradable waste Perpetuum Mobile BG has generated a positive financial result of BGN 311,000, and the company for construction, management and logistics services of real estate Tihiyat kyt has a profit of 247,000 BGN

The short-term plans of Albena JSCo foresee the transfer of the 4-stars Ralitsa Superior Hotel under the Calimera brand. The company's partnership with the German DER Touristik, part of the Cologne-based REWE Group, will ensure both the exclusive performance of the hotel in the marketing communications of the German tour operator and the implementation and enforcement of state-of-the-art quality standards. The concept foresee the hotel's orientation towards the "family tourism" segment, with an emphasis on active animation, entertainment and culinary experiences. Hotels under the Calimera brand operate in Egypt, Greece, Spain, Tunisia and Turkey. In the long run, the management plans to expand the opportunities for camping and caravanning in the complex, active marketing in the AIRBNB segment, construction of a modern seawater pool, renovation and reconstruction of hotels, new pedestrian zone along the coast and investment in sustainable tourism product.