Albena: A net profit of nearly BGN 3 million for 2021 at Albena JSCo
A net profit of BGN 2,922,000 is reported for 2021 by Albena JSCo. The company earned income from the core business in the amount of BGN 51,892,000. The assets of the company amount to BGN 592,510,000 and the equity to 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 at the time. The decision comes at a time when tourism activity is recovering from the three-year COVID crisis, but military action in Ukraine has lowered expectations for overnight stays in 2022 to around 70% of the 2019 pre-outbreak.
The management of Albena JSCo also recorded the dynamics in terms of proportional distribution of markets generating income from the main activity. Interest in the Resort from Eastern European countries is relatively stable, generating approximately 40% of total sales (37% for Romania and 3% for all others). Among the first places in the statistics remains the domestic market with 35%. A 2% recovery marks another main market for Albena, such as Germany, which in 2021 has 11% (9% in 2020 and 19% in 2019). Growth at 4% is observed among tourists from France, and those from Benelux are relatively constant at 1%. In the year before the war in Ukraine, Russian passport holders made up 8% of those who came to vacation at the resort.
Despite the turbulence and unpredictability that remains in the market, Albena JSCo is achieving its investment intentions set out in the plan for 2021. On June 17 this year, the fully renovated 5-star Amelia Hotel opened its doors, dedicated to Amelia Earhart – the first female pilot to fly over the Atlantic Ocean. It is the latest addition to the Deluxe & Lifestyle group, produced in collaboration with the French design office Borella. At the same time, the brand new concept of the Luxury Ultra All Inclusive program was launched, offering customers the best experiences.
The investments set in 2017 in the Sustainable Development Strategy are continuing. 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 2.5 million BGN. The energy generated is entirely for its own needs. Between 2,000 and 2,500 MWh will be saved annually. At current prices, this will result in 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 & 5* SPA.
Some of Albena JSCo’s subsidiaries also show positive financial results. A profit in the amount of BGN 311,000 is reported by the official tour operator of the resort Albena Tour. The company producing renewable energy from biodegradable waste Perpetuum Mobile BG generated a positive financial result of BGN 311,000, and the real estate construction, management and logistics services company Tihiyat kyt made a profit from BGN 247,000
Albena JSCo’s short-term plans include the transfer of the 4-star Ralitsa Superior hotel to the Calimera brand. The company’s partnership with Germany’s DER Touristik, part of the Cologne-based REWE Group, will ensure both the hotel’s exclusive performance in the German tour operator’s marketing communications and the implementation and application of to industry-leading quality standards. The concept foresees the orientation of the hotel 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 term, the management plans to expand camping and caravanning possibilities in the complex, active marketing in the AIRBNB segment, construction of a modern seawater swimming pool, renovation and reconstruction of hotels , a new pedestrian zone along the coast and investments in sustainable development. tourism product.