Bizovačke Toplice dd, Bizovac

Bizovačke Toplice d.d., Bizovac
Company name:
Bizovačke Toplice d.d.
Address:
31 222 Bizovac, Sunčana 39
Web site:
www.bizovacke-toplice.hr
TRANSACTION
Republic of Croatia through the Agency for State Property Management
(AUDIO) has the goal to finish the privatisation process of its tourism
portfolio (hotel companies owned and partially-owned by the Republic of
Croatia).
Privatisation model:
a) Public tender, which includes two steps:
• step 1 – stating the interest to invest in a formal letter of intent to
buy shares, submitted to AUDIO, Ministry of Tourism and AIK.
• step 2 – bid invitation will be sent to companies/individuals that
expressed interest in buying shares.
b) Proposal of restructuring plan in pre-bankruptcy settlement procedure
for the companies in financial difficulties:
• step 1 – stating the interest in participation in restructuring process
to the company, AUDIO, Ministry of tourism and Ministry of finance.
COMPANY
The Bizovac Spa is a joint stock company located in Bizovac. The Company has the biggest spa in the eastern part of Croatia
and provides hotel and catering services, health tourism, organization of congresses and hunting tourism, sport and recreational services and organization of cultural, artistic and other events.
The entire complex of Bizovačke toplice d.d. has developed around two springs of geothermal water since 1970. It is one of
the warmest springs (up to 90° C) of superior, unique quality of iodine geothermal water in Europe. The spa facilities cover
the area of 17.5 hectares out of which approximately 14 hectares are built up, whereas the remaining land is predominantly
agricultural land.
The Company has a great location in Osijek Baranja County (18 km to the City of Osijek, administrative center of the County),
near the Highway on Pan European Corridor and Hungarian border.
SALE
Shares on sale: 86,785 (99.44% of share capital)
Average price on the stock market: non-listed company
The Company is currently in pre-bankruptcy settlement procedure.
FINANCIAL DATA, in EUR
Year
2009
2010
2011
Operating revenues
1,604,265
1,381,247
1,385,971
Operating expenses
3,366,807
3,341,605
3,402,719
EBIT
(1,762,542)
(1,960,358)
(2,016,748)
EBITDA
(1,127,424)
(1,335,016)
(1,402,015)
Net Income
(2,489,040)
(2,849,733)
(3,333,442)
Total assets
16,282,131
15,716,521
14,977,269
9,703,142
11,987,264
14,581,455
108
108
108
Total liabilities
Number of employees
Agency for Investments and Competitiveness, Ulica grada Vukovara 78, 10 000 Zagreb, Croatia
DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give short information
about companies and/or investment possibilities to potential investors.The profile is for information purposes only. No responsibility or liability is accepted for the information in this document.
REAL ESTATE PORTFOLIO
Hotels:
• Hotel Thermia (**): 4 levels, 109 accommodation units (99 rooms,
10 apartments), size 17,659.52 m2, built in 1990,
• Toplice Hostel (**): one level, size 1,800.16 m2, 37 rooms, built in
1974.
Sports and recreation facilities (total size 7,874.35 m2):
• Aquapolis: multifunctional swimming and recreational complex with
9 different swimming pools and sport and leisure facilities (fields
for football, handball, basketball, volleyball, and tennis court and
beach volleyball). The indoor facilities consist of table-tennis and
saunas,
• Complex of spring water pools (3 indoor and 2 outdoor swimming
pools).
Medical/Spa area:
• Health resort of the Bizovac Spa.
Area:
• Total facility area: 28,836.60 m2,
• Net land area: 175,992 m2,
• Land area available for further construction: 63,147.50 m2
(allowed construction density: 0.50).
OSIJEK-BARANJA COUNTY INFORMATION
Population (2011): 304,889
GDP per capita (2010): 7,539 EUR
Unemployment rate (2011): 28.5 %
Average gross monthly salary: 891 EUR
Average gross salary in the sector (tourism): 628 EUR
Osijek-Baranja County is located in the Pannonian Plain in the northeast of Croatia. The center of the County is city of Osijek,
which represents administrative, economic, cultural and educational center of East Slavonia. Natural resources, a well-preserved environment, relatively unpolluted soil, abundance of waterways and a moderate climate offer a richness in flora and
fauna (the world-famous Slavonian forests). Agriculture and a modern, high-tech food processing industry (large investments
have recently been made in intensive organic agriculture) are the most important economic activities.
A growing industry is ethnic cuisine tourism (wine roads and traditional Slavonian cuisine based on local organic agricultural
products), traditional hunting and health tourism developed on geothermal springs. The County is internationally known by its
Lipizzaner horse farm and traditional folklore festival (Đakovački vezovi).
The County has launched nature-protective measures in 16 protected areas, among which is the famous Kopačevo Wetlands
Natural Park (Kopački rit), especially known as an ornithological and waterfowl habitat.
The most important road access to the County is Zagreb-Lipovac Highway, as well as highway on the Pan-European Corridor
Vc (Budapest – Osijek - Sarajevo – Ploče).
The University of Osijek is the centre of higher education of the County.
PRIVATISATION PROCEDURE
After submitting a formal letter of intent, receiving a bid invitation and signing the NDA the potential investor could participate
in due diligence procedure.
Upon bid submission the best bidder will be selected based on tender criteria.
CONTACTS:
Agency for Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]
Agency for State Property Management (AUDIO), www.audio.hr, e-mail: [email protected]
Ministry of Tourism, www.mint.hr
Ministry of Finance, www.mfin.hr
Agency for Investments and Competitiveness, Ulica grada Vukovara 78, 10 000 Zagreb, Croatia
DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give short information
about companies and/or investment possibilities to potential investors.The profile is for information purposes only. No responsibility or liability is accepted for the information in this document.