The BTC company plc (hereinafter referred to as BTC, or the company) has invested SIT 13,400 million since 2001, with 2004 being the year of its greatest investment. In 2004 it invested SIT 4,800 million, the biggest investments being the Atlantis Water Park, the multi-level car park, a roof over the outside market area, the upgrading of Hall A, three new roundabouts, architectural works that offer a people-friendly environment, and improved infrastructure enabling new investments (such as for the construction of an Agip petrol station).

Atlantis Water Park

Undoubtedly the biggest investment that is now in its final stage is the Atlantis Water Park, marking the 50th anniversary of the company. With its saunas, outdoor and indoor swimming pools, the Park will encompass 20,364 m2, of which the covered business area will be 14,805 m2.

The Water Park will contain 14 swimming pools (6 bigger ones, 3 children’s ones and 5 for specific purposes): altogether, approximately 1,800 m2 of water surface areas. The centre will comprise four complexes: the World of Experiences, Children’s World, Sauna Land and the Thermal Temple.
The Atlantis Water Park is expected to be completed and open up its doors at the end of April next year.

Multi-level car park

Clearly, the biggest investment completed in 2004 is the construction of a multi-level car park with 780 free parking places and spreading over 20,497 m2. The number of parking places in the whole of BTC CITY has reached 7,500 due to this investment along with the construction of a new garage encompassing 36,800 m2 in CityPark. BTC CITY witnessed the construction of 57,300 m2 of new parking spaces in 2004.

Roof over the outside market area

September saw the construction of a roof over the outside market area which now offers better conditions for visitors and sellers alike. The stands offering fruit and vegetables were also upgraded. New kiosks for storing goods were built, thereby improving the quality of the produce.

Upgrading of Hall A

The start of the year saw the upgrading of Hall A, encompassing 27,000 m2 and 183 shops. The company and its business partners-lessees came together to upgrade the ventilation system, lights, shop windows and entrances. A panoramic elevator was constructed and an entirely different system of signs was introduced within the hall.

Infrastructure, architectural policy, three new roundabouts

In 2004 the company continued to carry out projects, including programme upgrading and a new architectural policy that has brought a series of changes to the surroundings, buildings and interior of many of the halls within BTC City. Three new roundabouts were built in the vicinity of the multi-level car park, together with new rest areas, green zones, planted trees, pavements and cycle paths. The entrance to BTC City from Bratislavska street next to Bauhaus was thoroughly upgraded and it is becoming one of the 5 most important entrances to the area. As a result of all these novelties, the southern part of the BTC area between Letališka street and Bratislavska street has been transformed into a nicer and more urban environment. With the completion of the Atlantis Water Park project it will become the biggest sports and entertainment zone in Slovenia.


In 2004 BTC started to expand its business by directing itself towards leisure and free-time activities. The company is a co-founder of the Golte tourist centre and became a member of the ‘no frills’ airline Easy Jet consortium. It also co-signed papers for the construction of a water park in Velenje (construction work is expected to start in autumn 2005) and started negotiations on the construction of a similar undertaking in Maribor.


In 2004 our business partners invested an additional SIT 8.1 billion within the BTC CITY area. This has produced a synergetic effect, together we are achieving much better economic growth and BTC CITY is becoming the biggest business, shopping, sports and entertainment centre in the whole of Europe.
The upgrading of old and construction of new premises in 2004 encompasses 99,000 m2 of covered space (the Atlantis Water Park 14,805 m2, CityPark’s expansion over 5,000 m2, CityPark’s garage 36,803 m2, Merkur in Hall XVII 11,500 m2, the KD entertainment area in Hall XVIII 8,255 m2, the computer centre in Hall IX 2,157 m2, the multi-level car park 20,497 m2 and much more).
Of all the upgrading projects and revitalisation work, the most important was however the construction of the Merkur centre in Hall XVII. The hall has become an up-to-date ‘everything for the home’ centre with a winter garden comprising 11,500 m2.

The new entertainment centre being built in Hall XVIII encompassing 8,255 m2 and led by the company’s partner KD will also provide an even richer offer at BTC CITY. The project has not been completely carried out and the opening is expected in spring next year. The centre will offer various activities such as bowling, a free-climbing wall, an Imax cinema, video games and much more.

2005 will see the upgrading of Hall XII in which a number of the company’s business partners will open an apparel centre encompassing 5,000 m2. The investment is worth approximately SIT 480 million.


The synergetic effect achieved by the investment policy of BTC and its partners can be seen in the area of human resources. The investments have led to growth in employee numbers by creating 300 new positions. 



In 2004 the company earned SIT 8,299 million in revenue from the service sector, which is 4% more than in the same period last year. The expenses increased by 11% due to bigger overheads and more events being organised for visitors in 2004.

The long-term debts were paid off, interest rates were lowered, Slovenia entered the ERM2. As a result of all of this, but mainly due to the active financial policy, expenditure fell by SIT 420 million compared to 2003.

Compared to 2003 a 30% increase in profit is expected for 2004. SIT 1,280 million in profit is estimated.


The company has signed an agreement to sell its 15.6% share in the company Telemach Ltd when certain conditions have been met. BTC has invested SIT 1,585 million in Telemach but, based on the previous years’ revalorisation the investment is now worth SIT 1,746 million. It is expected that Telemach will be sold at the price of SIT 2,460 million.

The company’s financial area has seen certain changes so the company’s financial policy in 2005 is expected to experience a radical restructuring of liabilities to ensure the company’s future business. This will lead to a decrease in expenditure, by approximately SIT 200 million annually, to ensure adequate debt servicing of the company’s long-term real estate business activities and investment policy.

2. BTC IN 2005


It is expected that the Atlantis Water park will open up its doors to visitors at the end of April. Therefore, 19% higher revenue from the service sector is expected compared to 2004, increasing the profit by 40%, that is SIT 9.9 billion in revenue and SIT 3.3 billion in gross profit, 41% more than in 2004. SIT 1,600 million in profit is estimated, which is 28% more than in 2004.

Investment worth SIT 3.3 billion is expected in 2005, the lion’s share of which is the completion of the Atlantis Water Park project worth SIT 2 billion; SIT 500 million for the similar, albeit smaller-scale, project in Velenje; SIT 230 million for upgrading purposes and SIT 150 million for infrastructure.


Based on the good business practice in 2004 and realistically set goals, we at BTC expect that the 2005 business plan will be fully achieved. This will continue the tradition of constant growth and development of the company, which celebrated its 50th anniversary in 2004. After the completion of the Atlantis Water Park project, the company will market BTC CITY as a European product, namely because it is about to become the biggest business, shopping, sports, entertainment and cultural centre in all of Europe.

For many years the company’s brand BTC CITY has been the biggest shopping centre in the whole of Slovenia. Slovenia’s entry to the European Union means not only the expansion of the market but also the entry of foreign competitors to the Slovenian economy. Let us compare BTC CITY with the Viennese SCS which, until recently, had the reputation of being the biggest shopping centre in Europe.

Table: BTC CITY compared to SCS in 2004 

Established in  1991 1976
Premises370.000 m2 270.000 m2
Surface area475.000230.000
Number of shops424 330
Number of parking places7.50010.000
Visitor numbers/annually 18 milion24 milion
Employee numbers3.8504.500
Number of cinema seats3.3102.202
Number of cinema halls129
Retail space4,8 km3 km

Table: The surface areas of SCS, Metro Centre (Great Britain) and BTC CITY in 2004

Shopping centreSurface Area (in m2)
Metro Centre191.000
BTC CITY370.000

 After the Atlantis Water Park opens BTC CITY will clearly become the biggest business, shopping, sports, entertainment and cultural centre in Europe in terms of both the services offered and actual area it encompasses. With the upgrading of the southern part of BTC CITY, which mostly offers leisure activities, the company has started to develop its tourist offer. The company has patented the BTC CITY brand. International advertising, whose goal is to attract tourists from all over Europe, has begun. 


Undeniably the company’s biggest investment worth EUR 28 million is the Atlantis Water Park, marking the company’s 50th anniversary. It is situated in the southern part of BTC CITY encompassing 20,364 m2, of which the covered business area is 14,805 m2. It is believed that the Park’s daily capacity will exceed 4,000 visitors, which leads us to expect some 500,000 to 700,000 visitors a year.

The Water Park will contain 14 swimming pools (6 bigger ones, 3 children’s ones and 5 for specific purposes): altogether approximately 1,800 m2 of water surface areas. The centre will be made up of four complexes: the World of Experiences, Children’s World, Sauna Land and the Thermal Temple.

The World of Experiences is a central part of the Atlantis Water Park with a very rich offer: a wave pool, a lagoon and an atoll, a swimming pool with a slow-current river, an underwater cave, a geyser, a resting area, an outdoor relaxation pool connected to the indoor ones. All the swimming pools have massaging jets. This complex encompasses 1,500 m2 of water areas and 4,700 m2 of relaxation area and toboggans, two of which are more than 135 metres in length and feature various light effects and hoops. This complex offers a venue for hosting various events.

Children’s World contains two swimming pools and two toboggans just for children. The first is 15 metres long and the second one is the so-called ‘water snake’. Needless to say, there will be other toys for our children to play with.

Sauna Land has a very extensive offer of 10 different saunas on two levels, both outdoor and indoor saunas offering relaxation for each and every one of us.

There are four outdoor saunas surrounding a cold-water pool and a hot-steam bath.

These saunas were named after the way they look. The Planšarska (Alpine) sauna has a pine-shingled roof; the Panoramska (panoramic) sauna has a greenish roof; the Zemeljska (earthly) sauna is shaped like our planet; while the Rudniška (mine) sauna has an imitation-stone wall with a waterfall.

The outdoor saunas are made of ‘KELO wood’ obtained from trees growing in
the Arctic circle. These trees sometimes grow to be 400 years old and are
afterwards left to dry for another 10 years. This wood is fibrous, dry, light, with a
silver outer layer and a red-coloured core. It needs no additional protection.
Experts believe that real outdoor saunas can only be made from ‘Kelo
wood’ which is a symbol of endurance.

The indoor offer contains steam saunas, two Finnish saunas, a panoramic sauna, a mud sauna, a swimming pool, two cold and one hot-steam baths. These indoor saunas were made by the German company KLAFS, an upmarket sauna brand.

The idea behind the Thermal Temple is that of a winter garden with a glass façade and a see-through roof made from special foil. This is the quietest part of the Atlantis Water Park with a winter garden and a vine. Waterfall baths are a novelty in the Slovenian swimming pool offer and Atlantis has three of them.  These pools contain massage benches and waterfalls on three levels with a panoramic view of the Thermal Temple. There is also plenty of room to rest in the Temple’s gallery.

Various restaurants, a hairdresser’s salon, two shops, massage rooms, sun beds and other forms of entertainment will ensure an even richer offer at the Atlantis Water Park.

In order to ensure high hygiene standards regarding water quality, its economical use and an overall system that makes the whole complex function, the company has built a state-of-the-art central monitoring system encompassing a few thousand metres squared in the basement of the Atlantis Water park.

Ljubljana, 6 January 2005 BTC plc Management