Financial Data concerning PPP Concessionary Businesses with budget support. 2021 vs 2020 comparison

Open Data Albania is studying the Turnover, Gross Profit Margin for 13 Businesses that implement concessionary projects or Public Private Partnerships, supported from the State Budget.

Out of 13 concessionary PPP companies, that implement concessionary projects with budget support, only 9 of them have submitted and published the Financial Statements for 2021, in line with the existing legal requirements. Until October 2022, 4 of them have not filed and published the 2021 Statements at the National Business Center.

More specifically, the companies: 3P Life Logistic sh.p.k which implements the PPP concession contract for the package of basic medical check-up services for the 35-70 age group;  Integrated Technology Waste Treatment Fier sh.p.k, which implements the PPP concession Building, Operation and Transfer of the incinerator for the processing of urban waste of the Municipality of Fier;  Albtek Energy sh.p.k implementer of the PPP concession Building, Construction, Operation and Transfer of the incinerator for the processing of urban waste of the Municipality of Elbasan; Bardh Kontruksion sh.p.k which is implementing the Designing-Building-Financing and Maintenance of the PPP Concession of the Milot Balldren road axis.

The combined Turnover reported for the 9 concessionary PPP companies amounts to about ALL 15.45 billion or about Euro 132.1 million. Compared to 2020, the total turnover for these companies have increased by ALL 1.2 billion or plus 8.8%.

Source: NBC (QKB)
Comments and Analyses: Open Data Albania

Table: PPP Concessionary Companies, Turnover in AL Lek, Comparision 2020 vs 2021
Source: NBC (QKB)
Comments and Analyses: Open Data Albania

The profit before tax for PPP concession companies that have published their Financial Statements totals ALL 1.57 billion or about Euro 13.5 million. Compared to 2020, the companies subject to the ALL 760 million or by plus 92.9%. In 2021, none of the companies, out of nine PPPs in the analysis, has had any losses.

Source: NBC (QKB)
Comments and Analyses: Open Data Albania

The highest turnover value for 2021 has been raked by the concessionaire company Gjoka 87 sh.p.k, worth ALL 4.66 billion, which is implementing the PPP Concession for the Improvement, Construction, Operation and Maintenance of the Arbri road. Compared to 2020, the company’s turnover has decreased by 20%.

Source: NBC (QKB)
Comments and Analyses: Open Data Albania

In second place stands the company Integrated Energy BV SPV sh.p.k, which implements the concession of construction of landfill, incinerator and rehabilitation of existing landfills in Tirana. The turnover collected in 2021 by this company amount to ALL 2.60 billion, with an increase of ALL 293.8 million Lek or plus 13%.

The third place, in terms of collected turnover in 2021, stands S2 Albania worth ALL 1.61 billion, which is implementing the concession for financing, setting up and operating the service of scanning containers and other vehicles in the Republic of Albania. This company’s turnover has increased by 2%, compared to 2020. The company Rruga Llogara Orikum, in 2021 collected an estimated turnover figure of ALL 1.50 billion, from no profit in 2020.

A significant increase in the level of total income is observed for companies implementing PPP contracts in the Health sector. Specifically, the company Laboratory Networks sh.p.k, which is the implementer of the PPP “For the provision of laboratory services for regional university hospital and municipal hospitals”, in 2021, has collected a turnover worth of ALL 1.26 million, marking an increase of ALL 1.23 billion or 4022% more. For this contract, about ALL 1.10 billion have been paid from the State Budget in 2021.

Whereas, Sani Service sh.p.k which is the implementing company of the PPP for the provision of the set of surgical instruments, has collected an ALL 1.37 billion, with an increase of 27% in turnover compared to 2020, or a plus ALL 295.5 million. Followed by the company DiaVita sh.p.k which is the implementer of the Hemodialysis PPP, which in 2021 has made a profit of ALL 751.7 million, with an increase of ALL 16 million or a plus 2%.

Source: NBC (QKB)
Comments and Analyses: Open Data Albania

If we compare the profit before tax and the gross profit margin for the companies analyzed, it emerges that the company Integrated Energy BV SPV sh.p.k, implementer of the Tirana Incinerator Concession, has the highest value of gross profit of ALL 793.2 million, with an increase of 9.7% compared to 2020. In 2021, the company also had the highest profit margin against turnover with around 30.5%.

Meanwhile, the company Laboratory Networks sh.p.k is the second company with the highest profit before tax of ALL 232.8 million and with a gross profit margin of 18.4%.

The company Sani Service sh.p.k accounts for a profit before tax of ALL 192.4 million and a profit margin of 14%.

S2 Albania is also one of the companies with the highest gross profit of about ALL 173.65 million, as well as a high profit margin against turnover for 2021 of 10.8%. The company Albanian Highway Concession sh.p.k that implements the PPP Concession for the construction, improvement, operation and maintenance of the Milot-Morinë highway’, accounts for a profit efore tax ALL of 91.4 million and a Profit Margin against turnover of about 9%.

Source: NBC (QKB)
Comments and Analyses: Open Data Albania

implements the concession for the improvement of the educational infrastructure in the Municipality of Tirana. In 2021, this company has generated a profit of ALL 655.9 million. Meanwhile, the gross profit is calculated at ALL 4.78 million and the profit margin against the income is 0.7%.

Gjoka 87, is the concessionaire company with the highest turnover for 2021, with about ALL 4.66 billion in profits, but recorded the lowest gross profit of ALL 311.2 thousand.

Source: NBC (QKB)
Comments and Analyses: Open Data Albania

The indicators subject to analysis in this Article are the companies’ total turnover and profit before tax. The Gross Profit Margin is calculated as the ratio of the Profit before Tax against the Turnover of the company, which is an indicator of the financial health of a company, as well as the Personnel Expenses of each company.

Data on financial performance, legal personality, status, object, legal issues, financial management, public or private financing, concession fees and legal regulations for concessionaire companies are complete and have been published in well-structured format in the Concessionaire Register of the Open Corporates Albania platform. Likewise, in the Open Data Albania portal we have published studies and analyses about Concessions. The Concessionary Register and research articles are carried out in the framework the project Open Data, Access and Transparency over sectors to Risk of Corruption.

Download excel: Financial Data concerning PPP Concessionary Businesses with budget support. 2021 vs 2020 comparison
Comments and Analyses: Open Data Albania
Translated by: Rezarta Cushaj