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Balatoni Hajózási assessed in 2004 by Reorg, which put the company's value at Ft 7 billion, but the appraisal is now outdated.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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.