4. History and business activities
Joint-stock Company “VODSTROI 98” was established in the town of Sliven in 1998 as
a successor of State-owned Enterprise “Hydro-Technical Engineering”.
The company preserved and developed the good production practices of the former
company which had been established and implemented in the course of many years.
The company’s business is organized in the following segments:
Design, construction and engineering of industrial and public construction projects:
Water supply and sewerage systems;
Hydro-technical and irrigation systems;
Water treatment plants and other environment protection facilities;
Public works and infrastructure, including transfer and distribution networks and facilities in
the field of power supply, heating and natural gas supply;
New residential projects;
Representation offices of banks and administrative buildings;
Tourist facilities and hotels
5. Reconstruction, repair works and maintenance of strategic government-ownedReconstruction, repair works and maintenance of strategic government-owned
facilities:facilities:
Grain storage facilities;
Oil storage facilities;
Medical centres;
Storehouses;
Immovable monuments of culture, etc.;
Production of building products:Production of building products:
Aggregate materials;
Concrete mixtures;
Reinforced concrete elements;
Metal products and structures;
Reinforcement, section-shaped and fastening elements..
History and business activities
6. The company’s main objective is to provide products and services meeting the
requirements of clients and of the legislative acts and standards applicable to design,
production and construction and installation works, as well as to improve continuously
the quality of all activities performed by the company providing safe and healthy labour
conditions and preserving environment.
In order to improve the confidence of our clients and partners, the team of
VODSTROI ’98 AD continuously maintains and improves the quality of performance by
implementing the following systems:
Quality Management System (QMS) in compliance with BSS ISO 9001:2008;
Occupational Health and Safety System in compliance with BSS OHSAS 18001:2007;
Environment management System in compliance with BSS EN ISO 14001:2005;
Guaranteeing conformity with the effective European Union legislative and other
applicable requirements to the quality of products and services, occupational health and
safety and environment protection;
Marketing and meeting the requirements of the market, employment of international
principles, standards and good practices;
Objectives and policies
7.
Maximum involvement of the company staff, optimization of the processes and the
activities of the company in order to achieve high quality, safe working conditions and
environment protection taking into account the requirements of all stakeholders;
Effective use of the material, human and financial resources and capitals taking into
account the needs of the clients and all stakeholders;
Implementation of the activities avoiding accidents or occupational deceases in an
environmentally friendly way;
Making strategic and operative decisions on the grounds of facts and achieving balance
between what is desirable and what is possible in the context of provision of good
quality, healthy and safe labour conditions, and environment protection;
Continuous upgrading of the provided products and services via accumulation and
application of the practical experience and skills of the team of VODSTROI ’98 AD;
Motivation and involvement of the staff of VODSTROI ’98 AD in the performed works via
raising the awareness of the employees about the responsibilities and commitments of
the Company in order to achieve good results
Objectives and policies
8. 218 employees work under full-time contracts at VODSTROI ’98 AD and all of them have
considerable professional experience and take active part in development of the company
projects. When need be, their number is increased to up to 382 persons. The Company has
the required human, technological and managerial potential to perform construction and
installation works in a volume of more than 100 000 m2 of built area annually.
Alongside construction activities the company has also developed production activities.
We produce aggregate materials, concrete mixtures, mortar, various adhesives, steel pipes
and fittings, sewer pipes, steel elements, paving elements and curbs, concrete and thermal
panels and pipes, mobile garage units, woodwork elements, concrete bricks, metal structures,
etc.
The good reputation of VODSTROI ’98 AD and the expanding market niche of the company
come as a result of the high quality construction and installation works, the short term of their
completion, the optimal market prices and the loyalty to our clients and partners. The qualified
specialists working for the company guarantee the high technological and quality level of
production with their excellent professional skills and experience.
Objectives and policies
9. Evidence of the right approaches employed in the management of the company
activities and the work programme for continuous upgrading of the qualification of the staff,
as well as the high requirements to the performed works, is the fact that the company is
accepted as an equal partner by a number of leading Bulgarian companies in the course of
implementation of contracts on construction and installation works of projects of significance
for the national security.
A consortium between VODSTROI ’98 AD and ENEMONA AD, where the management
of VODSTROI’98 AD plays the leading part, implements a contract on engineering, design
and zimplementation of facilities, design, reconstruction, repairs and launching into
exploitation of bases of State Agency “State Reserve and Wartime Stocks” in compliance
with the requirements of the Bulgarian and European legislation.
A consortium between “Montage Complect Engineering” EOOD and VODSTROI ’98
AD joined their efforts and potential to implement a contract on engineering and construction,
comprising design and construction of vessel volumes; design, reconstruction, repairs and
launching into exploitation of petro storage bases of State Agency “State Reserve and
Wartime Stocks” in compliance with the requirements of the Bulgarian and European
legislation.
Partners
10.
Implementation of these two contracts on performance of construction and installation
works of project concerning the national security and resource provision of the country is
a proof of the upward tendency of development of the company and the right decisions
made by the managing team.
For the last two years, independently and in joint ventures with other companies, our
company has built a great number of industrial and public projects: new residential areas,
representation offices of banks and administrative buildings, hotels, storage facilities, etc.
of total built area exceeding 158 thousand square meters, as well as repairs and
modernization of facilities for storage of petroleum products of capacity exceeding 442
thousand cubic meters with the ancillary equipment and infrastructure to the total amount
of over €75 million.
Since 25.11.2009 VODSTROI ’98 AD was granted NCAGE – a code of supplier under
00PLU – the codification system of NATO.
Partners
19. 2007 – 2009 Financial Analysis
31.12.200731.12.2007 31.12.200831.12.2008 31.12.200931.12.2009
I. Profitability Indicators
Profitability of income from sales (Net Profit/Net
Income from Sales) 7% 8% 5%
Profitability of equity (Net Profit/Equity-Unpaid
Capital) 37% 81% 92%
Profitability of attracted capital (Net
Profit/Attracted Capital) 6% 1% 12%
Coefficient of cost effectiveness
(revenue/costs) 110% 107% 106%
The operations of VODSTROI ’98 AD are characerized by the positive trend of
development of the profitability parameters in the period subject to analysis. The values
of all liquidity parameters are very good which speaks of the potential of the company to
generate sufficient volume of profit on the basis of various balance indexes.
20. 31.12.200731.12.2007 31.12.200831.12.2008 31.12.200931.12.2009
II. Liquidity IndicatorsII. Liquidity Indicators
General Liquidity Ratio (Current
Assets/Current Liabilities) 1,18 1,01 1,09
Quick Liquidity Ratio (Receivables + Short
Term Investments + Cash)/Current
Liabilities)
0,61 0,95 1,03
Immediate liquidity ratio (Short Term
Investments + Cash)/ Current Liabilities) 0,34 0,25 0,02
Absolute liquidity ratio (Cash/ Current
Liabilities) 0,34 0,25 0,02
2007 – 2009 Financial Analysis
21. 31.12.200731.12.2007 31.12.200831.12.2008 31.12.200931.12.2009
III. Financial Independence IndicatorsIII. Financial Independence Indicators
Leverage ratio (Attracted Capital/Equity-
Unpaid Capital) 614% 13694% 759%
Financial independence ratio (Equity-
Unpaid Capital/Attracted Capital) 0,16 0,01 0,13
Gearing ratio %
(Attracted Capital/ОК %) 86% 99% 88%
Interest coverage (Operational Incomes-
Operational Expenses+ Interest
Expenses)/ Interests Expenses)
6,76 6,40 23,41
The company is in a relatively good state of financial autonomy. The high value of
leverage ratio in 2008 was due to the greater value of liabilities as a whole.
2007 – 2009 Financial Analysis
22. 31.12.200731.12.2007 31.12.200831.12.2008 31.12.200931.12.2009
IV. Accounts Receivable and AccountsIV. Accounts Receivable and Accounts
Payable RatiosPayable Ratios
Collection period (Average accounts
receivable/*360/Net Income from Sales)
93,62 3 331,91 155,70
Payment period (Average accounts
payable/*360/ Net Income from Sales) 341,13 4 727,11 153,71
In the last reported period the pace of claims and liabilities payment was considerable
sped up which came as a result of the professional and effective management of the
company.
2007 – 2009 Financial Analysis
23. DESIGN, CONSTRUCTION AND ENGINEERINGDESIGN, CONSTRUCTION AND ENGINEERING
OF INDUSTRIAL AND CIVIL PROJECTSOF INDUSTRIAL AND CIVIL PROJECTS
25. SPORTS AND ENTERTAINMENTSPORTS AND ENTERTAINMENT
CENTERSCENTERS
Project: Golf Complex
Date of completion: 2004
Location: the town of Sliven
Total Built Area (TBA): 3800m2
36. OIL STORAGE FACILITY PARVOMAIOIL STORAGE FACILITY PARVOMAI
Project: OIL STORAGE FACILITY
Location: the town of Parvomai
Investor:
State Agency “State Reserve
and Wartime Stocks” (SA SR&WTS)
37. OIL STORAGE FACILITY POLIKRAISHTEOIL STORAGE FACILITY POLIKRAISHTE
Project: OIL STORAGE FACILITY
Location: the town of Polikraishte
Investor: State Agency
“State Reserve and Wartime Stocks” (SA
SR&WTS)"
38. GRAIN STORAGE FACILITY in the village ofGRAIN STORAGE FACILITY in the village of
DONCHEVODONCHEVO
Project: GRAIN STORAGE FACILITY
Location: the village of Donchevo
Investor: State Agency
State Reserve and Wartime Stocks” (SA
SR&WTS")
39. GRAIN STORAGE FACILITY in the village ofGRAIN STORAGE FACILITY in the village of
MORAVAMORAVA
Project: GRAIN STORAGE FACILITY
Location: the village of Morava
Investor: State Agency
“State Reserve and Wartime Stocks”
(SA SR&WTS)
40. MIXED STORAGE FACILITY in the town ofMIXED STORAGE FACILITY in the town of
LOMLOM
Project: Mixed STORAGE FACILITY
Location: the town of Lom
Investor: State Agency
“State Reserve and Wartime Stocks”
(SA SR&WTS)
41. MIXED STORAGE FACILITY in the town ofMIXED STORAGE FACILITY in the town of
PORDIMPORDIM
Project: Mixed STORAGE FACILITY
Location: the town of Pordim
Investor: State Agency “State
Reserve and Wartime Stocks” (SA
SR&WTS)
42. MIXED STORAGE FACILITY in the village ofMIXED STORAGE FACILITY in the village of
GORNI DABNIKGORNI DABNIK
Project: Mixed STORAGE FACILITY
Location: the village of Gorni Dabnik
Investor: State Agency “State
Reserve and Wartime Stocks” (SA
SR&WTS)
43. MIXED STORAGE FACILITY in the town ofMIXED STORAGE FACILITY in the town of
LOVETCHLOVETCH
Project: Mixed STORAGE FACILITY
Location: the town of Lovetch
Investor: State Agency “State
Reserve and Wartime Stocks” (SA
SR&WTS)
44. MIXED STORAGE FACILITY in the town ofMIXED STORAGE FACILITY in the town of
SINDELSINDEL
Project: Mixed STORAGE FACILITY
Location: the town of Sindel
Investor: State Agency “State
Reserve and Wartime Stocks” (SA
SR&WTS)
46. MECHKAREVO PRODUCTION FACILITYMECHKAREVO PRODUCTION FACILITY
The production facilities of the company are built
on a territory of 60 000 m2, of which 5000 m2 of
covered area is located on the territory of the town
of Sliven.
The production capacities are as
follows:
An workshop for production of steel
pipes of diameter from 426 up to 3020
mm and all fittings to them, as well as
equipment for all types of irrigation and
hydro-technical facilities. The staff of
the workshop manufactures to order a
wide range of metal products, elements,
and performs turnery and milling works.
47.
A production range designated for reinforced concrete elements: facing tiles, reinforced-
concrete pipes and a wide range of concrete elements;
Reinforcement yard equipped with a machine fro welding of meshes;
Concrete Unit;
Own installation for extraction of aggregate – sand, felt, and gravel;
Production line for mobile reinforced-concrete garage units;
A laboratory equipped for tests in the field of construction;
A workshop for prefabrication of structural insulation panels.
MECHKAREVO PRODUCTION FACILITYMECHKAREVO PRODUCTION FACILITY
48. The production facility also features a
workshop for prefabrication of structural
insulation panels and elements for
‘Canadian type’ prefabricated houses.
The workshop is equipped with the
technological line for production of
structural insulation panels, which is
unique on the Balkan Peninsula
MECHKAREVO PRODUCTION FACILITYMECHKAREVO PRODUCTION FACILITY
49.
The structural insulation panels consist
of two structural planes with PIR
(Polyisocyanurate) filling between them;
Used filling foam: PIR
(Polyisocyanurate);
Structural planes: mainly OSB or FCB
with an option to use various materials
of the relevant structural properties.
FINISHED PRODUCTS
MECHKAREVO PRODUCTION FACILITYMECHKAREVO PRODUCTION FACILITY
50. A HOUSE AT ZHREBCHEVO DAMA HOUSE AT ZHREBCHEVO DAM
Training centre of VODSTROI ’98
The house was built of the first
manufactured structural panels.
51. Please, contact us at:
SOFIA OFFICE
Address: Sofia 1606
13-15 Shandor Petyofi St.
Phones: (02) 980 98 85
(02) 987 26 25
(02) 988 17 80
SLIVEN OFFICE
Address: Sliven 8800
9A, General Dragomirov St.
Phone: (044) 666 340
Fax: (044) 666 341
