Sofia Metro Company's Profit Quadruples in 2010 Y/Y

Former Sofia Mayor and current PM Boyko Borisov and his successor Mayor Yordanka Fandakova (back) are shown here inspecting the construction of the second line of the Sofia Metro. Photo by BGNES

The Sofia Metro, or Metropolitan EAD, was the most profitable company owned by the Sofia Municipality in 2010.

The municipal companies of the Bulgarian capital Sofia completed 2010 with a total profit of BGN 19.4 M, according to the latest financial data.

The Sofia Metro alone has registered a profit of BGN 6 M, or four times more than it had in 2009. The increased profit appears to be the result of the much anticipated launch of the entire first line of the Sofia Metro in the fall of 2009, linking the Lyulin and Obelya quarters with the Mladost quarter.

The Metropolitan EAD company manages the one existing line of the Sofia Metro and is in charge of the construction of the other two lines, with the core section of the second expected to be opened in the summer of 2012.

The Urban Mobility Center – which deals with the operation of the public transport in Sofia and the parking in the restricted areas – comes in second with a profit of BGN 3.3 M in 2010, a substantial growth from 2009 when it had a profit of BGN 2.7 M.

Chistota-Iskar EOOD, a garbage collecting municipal firm, had a profit of BGN 3.1 M in 2010, compared with BGN 3.7 M in 2009, primarily because the company gave up some its activities such as the cleaning of some Sofia quarters. However, it still operates the waste depot in Suhodol and its garbage separation facility.

Pazari Vazrazhdane EAD, a municipal companies managing two open markets in Sofia – the "Women's Market" ("Zhenski Pazar") and the Dimitar Petkov market, ended 2010 with a profit of BGN 1.7 M, an increase from the BGN 1.4 M it generated in 2009.

Stolichen Elektrotransport – the company in charge of the electric buses, or trolley buses, and trams in Sofia – completed 2010 with a profit of BGN 1.2 M.

Stolichev Avtotransport, however, which manages the public bus transport in Sofia, registered a profit of only BGN 10 000; its result is still a big improvement after it ended 2009 with a loss of BGN 807 000.

The other municipal firms managing open markets had a combined profit growth of 220% in 2010; Pazari Iztok had a profit of BGN 829 000; Pazari Sever – BGN 692 000; Pazari Zapad – BGN 464 000; Pazari Yug – BGN 807 000. The combined profit of all municipal firms managing the open markets is BGN 4.5 M.

Sofiyski Imoti EAD, which is in charge of the real estate properties of the Sofia Municipality, ended 2010 with a total profit of BGN 474 000.

Galatya-2002 EAD, a municipal firm organizing student camps, registered a net loss of BGN 371 000 in 2010, down from a loss of BGN 420 000 in the previous year.

The municipal security firm Egida-Sofia EAD ended 2010 with a loss of BGN 468 000, which is BGN 240 000 smaller than in the previous year.

A Sofia mapping company, GIS-Sofia, registered a profit of BGN 2 000; Lozana EAD registered zero profit, while the municipal park company Ozelenyavane EAD had a loss of BGN 4 000.

Sportna Sofia-2000 EAD, which is in charge of the municipally owned sports facilities, completed 2010 with a net profit of BGN 69 000. Sofinvest EOOD came up with a profit of BGN 787 000, while the municipal water supply and sewerage company ViK EAD had a profit of BGN 78 000.

The "big loser" among the Sofia municipality companies remains the troubled heating utility Toplofikatsiya, which ended 2010 with a net loss of BGN 10 M; yet, its loss is nonetheless smaller than in previous years.

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