In just one year, we climbed from 23rd to 15th place in the Fuels sector.
Capital’s ranking “K100: Bulgaria’s Largest Companies 2023” reports the 2022 financial results of Bulgaria’s largest companies in over 10 key sectors, including: energy, fuels, metals, telecommunications, trade, mining, transport, etc.
Graphic: Capital.bg
In last year’s ranking, “K100: Bulgaria’s Largest Companies 2022“, V-Gas ranked 23rd, reporting a nearly 55% increase in revenue from 2021. Just one year later, we already occupy the prestigious 15th place in the ranking with a steady increase in revenue of over 6%.
Since 2021, we have been experiencing growth that logically positions us among the leading Bulgarian companies in the sector. We already have over 25 years of history behind us; we have gained valuable experience and proven that we can respond to the constant challenges of the market. I believe that we will achieve even higher results by following the EU policy of reducing dependence on Russian energy sources thanks to the larger number of suppliers than natural gas and the convenient mode of transport – not by pipeline, but by ship, rail, or road. We are moving forward and upward,” commented Maya Blagoeva, CEO of V-Gas.
NSI data for 2022 show record fuel exports worth BGN 1.7 billion. According to the K100 ranking, the 15 largest companies in the fuel sector reported twice as much revenue as in the previous year, growing from BGN 12 billion to BGN 24 billion, or a 97% jump. According to analysts at Capital, the growth in turnover is largely due to sales on the Ukrainian market, but also to the high price of petroleum products last year.
The full text of the analysis can be read here here.