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ÁPV calls tender to assess value of Balaton ship company

The State Privatization and Holding Rt (ÁPV) has called a tender to assess the value of the state's 49% stake in Balatoni Hajózási Zrt, a company which operates tourist ships on the Balaton.

The assessment is estimated to cost Ft 6 million. The deadline for bidding is October 6 and the winner is to be announced on October 24.
ÁPV had Balatoni Hajózási assessed in 2004 by Reorg, which put the company's value at Ft 7 billion, but the appraisal is now outdated. When Reorg carried out the assessment, Balatoni Hajózási had a fleet of 24 passenger ships, in addition to ferries, docks, hotels and campgrounds. The state transferred a 51% stake in the company free of charge to 22 local councils around the lake in 2001.
Balatoni Hajózási had after-tax profit of about Ft 36 million on revenue of Ft 1.7 billion. In 2006, the company targets revenue of Ft 1.8 billion, which appears achievable based on the company's results in January-July, according to the company's CEO. Balatoni Hajózási targets profit of Ft 17 million-Ft 20 million in 2006.