The prestigious business ranking “K100: Bulgaria’s Largest Companies 2022” reports on the financial results of the past year of successful organizations in the country. The companies are ranked in separate sectors, including: outsourcing, chains, fuels, energy, machinery and equipment, metallurgy, clothing and textiles, agriculture, software and fintech, construction, transport, and others.

Graphic: Capital.bg

After its absence from the ranking in 2020, V-Gas entered the Top 25 of the Fuel sector, occupying 23rd place. The reason is reporting of nearly 55% increase in revenue in 2021, compared to the previous year. This growth is twice as high as the average for the Fuel sector, as well as above the average growth for all sectors in the ranking Capital Top 100.

The increased revenues and good financial results of V-Gas Bulgaria for 2021 are due not only to higher energy prices, but also to increased demand for propane-butane as an environmentally friendly alternative to other fuels. Of course, the trust built in the company, strict adherence to quality and safety policies, and the hard work of the entire team are also significant factors determining our success in the past and current year,” commented Maya Blagoeva, CEO of V-Gas.

For 2021, V-Gas reports an over 80% increase in domestic gas installation customers and a doubling of sales compared to 2020. (find out more here) .

This year, the company has skilfully responded to the challenges in the sector and continues to invest in improving and expanding its technical base, staff career development and service optimisation.

Analysts at Capital note an increase in turnover for all companies in the Fuel sector. The main reason is the market recovery after the pandemic-stricken 2020, during which closed borders, blocked deliveries, and restricted movement caused oil prices to plummet and wiped billions off the turnover of companies in the sector. The leaders in the top rankings are Astra Bioplant, Lukoil Bulgaria, and Saxa.

Graphic: Capital.bg