Albena : The first five years of the Sustainable development strategy

The company reports increased customer satisfaction and some of the hotels in the resort have won prestigious international quality awards.

Last year marked the end of the first 5-year period of Albena JSCo's Sustainable Development Strategy developed and adopted in 2017. Today the resort generates on-site over 50% of the energy consumed on an annual basis using renewable energy sources. Photovoltaic panels with a total capacity of 1.5 MW have been installed on the roofs of some of the buildings in the complex, while the biogas plant, part of the subsidiary company Perpetual Mobile BG JSCo, provides an additional 2 MW of power. Through an intelligent SCADA system for monitoring, control and management of energy flows, electricity purchased from external suppliers is supplied at the lowest possible market prices, while a 200 kWh battery serves to balance the internal consumption. A 1.5 MW solar collector for hot water and a 600 kW heat pump installation have also been implemented.

Following the consumption cycle, the waste in the complex is collected separately and all biodegradable residues - mainly food - are processed into biogas. Under the farm-to-table principle, and with the help of subsidiary Eco Agro JSCo, nearly 60% of food supplies are sourced from its own farms - Black Angus beef, fruit, vegetables, wine and spirits, honey, fruit juices and jams, or from other local producers. By doing so, the company contributes to climate neutrality, part of the key actions under the European Green Pact. Farm-to-table also supports the local communities, involving them in the cause of environmental protection, and already has contractors that operate with fully electric transport, as well as having invested in renewable energy.

Bordering the Balata Nature Reserve, Albena JSCo attaches high importance to the protection of biodiversity. No overbuilding is allowed in the complex, and the buffer zones of the reserve are used for nature tourism, camping and caravanning, horse riding, hiking and cycling tours. Parts of the resort are completely restricted to cars, and over the last 5 years BGN 750 000 has been invested in electric vehicles servicing the resort. When hotels and restaurants are renovated, furniture and inventory are given a new life by being donated to medical institutions, NGOs, schools, or sold at symbolic prices in order to extend their life cycle.

As a seaside holiday destination, Albena cares not only for the cleanliness of the sea area through its own wastewater treatment plant, but also for the spring mineral water. An in-house laboratory is in operation to control the purity of the water, as well as to monitor the quality of incoming food products. The concession of the three mineral water springs, with an annual capacity of 2 million m³ and with potential for bottling, enables the installation of taps for free drinking mineral water, leading to a reduction in the plastic used. Free mineral water systems have also been installed in the hotels and restaurants of the complex. More than 30 smart water meters and a real-time monitoring system of some of the water flows are in operation. A chief sanitary inspector takes care of health and safety in the resort.

International recognition

For the 26th consecutive year, the beach was awarded the Blue Flag. The world organization of the same name gave another award - an international jury voted on the best practices for beach management, with Albena in the top three in terms of energy management.

At the start of the 2023 summer season, the 5-star Maritim Hotel & SPA Paradise Blue won a prestigious international award from German tour operator DERtouristik. The Red Star Quality Award 2022 certificate is awarded for achieving the highest quality of hotel service, taking into account guests' evaluations, their complaints as well as the tour operator's own internal surveys as the basis. The hotel also topped HolidayCheck.de's ranking for Bulgaria, with the high award earned thanks to its overall score of 5.7 out of 6.00 and 98% customer satisfaction. Among the 9 awarded places of accommodation, the Gergana Hotel 4* was ranked 5th. It also won the Partner of excellent certificate from the German tour operator Schauinsland Reisen. This places it among the 25 best holiday hotels in the world offered by the travel company. Other hotels awarded with the Top hotel partner 2022 certificate by the tour operator include Maritim Hotel & SPA Paradise Blue 5*, Flamingo Grand Hotel & SPA 5* and Kaliakra Beach 4*. At the end of the last summer season, Maritim Hotel Amelia 5* attracted the attention of specialists from the online platform HolidayCheck.de, achieving the highest score of 6.00 out of 6.00 and 100% customer satisfaction.

Investments and financial information

In the past 12 months, more than BGN 10 million in capital expenditure has been incurred. The investment programme includes a major renovation of the Ralitsa Superior Hotel, which has been operating under the Calimera brand since this summer, part of the German tour operator DERtouristik and the REWE Group. The Flamingo 4*, which meets the standards of the Nordic Leisure Travel Group tour operator, has also been completely renovated in a clean Nordic interior design. A new outdoor basketball court with polypropylene flooring has been constructed, and ongoing renovations have been made to hotels and restaurants, infrastructure, green space improvements, etc.

Regarding the financial indicators, Albena JSCo ended the fiscal year with a net profit of BGN 992 000. For the period, the company generated revenues from core business of BGN 68 882 000. The company's assets amounted to BGN 591 920 000 and the equity was BGN 481 078 000. Some of the subsidiaries also showed positive financial results. The official tour operator of the resort, Albena Tour JSCo reported a profit of BGN 202,000. BGN 284,000 was earned by the construction company Eco Stroy JSCo, and the company for management and rental of office premises, Idis JSCo - BGN 450,000. The agricultural company Eco Agro JSCo made a profit of 695 000 BGN and the tour operator Flamingo Tours, operating on the German market, made 57 000 BGN respectively. The company for production of renewable energy from biodegradable waste Perpetuum Mobile BG JSCo has generated a positive financial result of BGN 70 000, and the company for construction, management and logistics services of real estate "Tihiat kyt" JSC brings a profit of BGN 26 000.

Board of Directors and dividend payment

The General Meeting of Shareholders of Albena JSCo voted to re-elect the Board of Directors for a new 5-year term. The Board includes Krassimir Stanev - Executive Director of the company; Margita Todorova - Marketing and Sales Director; Miglena Peneva - lawyer and Senior Partner at Georgiev, Todorov & Co. Law Firm; Dr. Plamen Dimitrov - President of the Confederation of Independent Trade Unions in Bulgaria; the company "DV Consulting" Ltd., represented by Daniela Petkova. The shareholders also approved the payment of an annual dividend of BGN 0.11 per share.