Investments - Bulgaria

PRB monitoring

• BULATSA planned a total asset value for new investments in RP4 of 194.0M€2022, of which 50.2% relates to new major investments. BULATSA planned 6 new major investments for RP4, of which 4 have started and 2 have not yet started.

• In 2025, BULATSA underspent -0.3M€2022 (-19.0%) in costs related to new major investments. This is mainly attributable to the new ATM, simulator and contingency system.

• According to the reporting tables, BULATSA overspent +0.4M€2022 (+1.8%) in costs related to investments in 2025.

• BULATSA reported 0.1M€2022 in funding from Union assistance programmes in 2025.

Value of the assets for New Investments included in the Performance Plan Bulgaria | BULATSA and comparison with Union-wide

Determined and additional asset value by investment category

Total value of the asset for new investments (M€2022)	193.97	% of total
New major investments (above 5M€ each)	97.44	50%
Included in the performance plan	97.44	50%
Additional	0.00	0%
Other new investments (below 5M€ each)	96.53	50%

BULATSA asset value of new investments compared to Union-wide (%)

4.0%

Determined asset value: en route and terminal

Total value of the asset for new major investments (M€2022)1	97.44	% of total
En route	97.44	100%
Terminal	0.00	0%
1 For investments where the allocation has not been clearly provided, an allocation has been assumed based on available information.

Determined asset value by type of investment

New ATM system	0.00
Overhaul of existing ATM system	0.00
Other ATM	0.00
CNS	0.00
Infrastructure	59.04
Ancillary	59.04
Other	0.00
Unknown	38.41
1 When summing the assets for new major investments by investment type, the total may differ from the overall asset value for new major investments, as some investments have been categorised under multiple investment types.

Costs related to investments included in the Performance Plan Bulgaria | BULATSA

New and existing investments

Determined costs	2025D	2026D	2027D	2028D	2029D	RP4
Total costs of new and existing investments (M€2022)	23.42	25.53	28.37	33.65	34.60	145.57
New major investments from RP4	1.67	4.43	6.80	10.53	11.34	34.77
Other new investments from RP4	2.06	4.44	6.90	10.26	12.29	35.95
Major investments from RP3	1.94	1.90	1.80	1.71	1.62	8.97
Existing investments from previous RPs	17.74	14.76	12.88	11.15	9.34	65.88

Actual costs	2025A	2026A	2027A	2028A	2029A	RP4
Total costs of new and existing investments (M€2022)	23.83	NA	NA	NA	NA	23.83
New major investments from RP4	1.35	NA	NA	NA	NA	1.35
Other new investments from RP4	2.89	NA	NA	NA	NA	2.89
Major investments from RP3	1.67	NA	NA	NA	NA	1.67
Existing investments from previous RPs	17.91	NA	NA	NA	NA	17.91

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.42	NA	NA	NA	NA	NA
New major investments from RP4	(0.32)	NA	NA	NA	NA	NA
% change of actual with respect to determined	-19%	NA	NA	NA	NA	NA
Other new investments from RP4	0.84	NA	NA	NA	NA	NA
% change of actual with respect to determined	+41%	NA	NA	NA	NA	NA
Major investments from RP3	(0.27)	NA	NA	NA	NA	NA
% change of actual with respect to determined	-14%	NA	NA	NA	NA	NA
Existing investments from previous RPs	0.17	NA	NA	NA	NA	NA
% change of actual with respect to determined	+1%	NA	NA	NA	NA	NA

Costs of investments by nature - En route

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	23.41	25.53	28.37	33.64	34.59	145.53
Depreciation	13.83	13.91	14.88	19.21	20.07	81.92
Cost of capital	9.58	11.61	13.48	14.42	14.51	63.61
Cost of leasing	0.00	0.00	0.00	0.00	0.00	0.00

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	23.83	NA	NA	NA	NA	23.83
Depreciation	15.02	NA	NA	NA	NA	15.02
Cost of capital	8.81	NA	NA	NA	NA	8.81
Cost of leasing	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.42	NA	NA	NA	NA	NA
Depreciation	1.20	NA	NA	NA	NA	NA
Cost of capital	(0.77)	NA	NA	NA	NA	NA
Cost of leasing	0.00	NA	NA	NA	NA	NA

Costs by new major investments

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of major investments in RP4 (M€2022)	1.67	4.43	6.80	10.53	11.34	34.77
Building of Contingency and Data Center and Equipment	1.01	2.51	3.30	3.48	3.58	13.88
Distributed virtualization infrastructure	0.00	0.17	0.44	0.61	0.87	2.10
Modernisation of the Operatiоns Room of Sofia Air Traffic Control centre (ATCC)	0.36	0.63	1.13	1.48	1.42	5.02
Modernization of DVOR/DME	0.00	0.00	0.19	0.45	0.57	1.21
Modernization of Voice Communication Systems (VCS) in Air Traffic Control Centers in Sofia, Varna and Burgas	0.00	0.06	0.23	0.41	0.98	1.68
New V4 of the SATCAS ATM System, Simulator and Contingency ATM System	0.30	1.06	1.51	4.11	3.92	10.89

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of major investments in RP4 (M€2022)	1.35	NA	NA	NA	NA	1.35
Building of Contingency and Data Center and Equipment	0.90	NA	NA	NA	NA	0.90
Distributed virtualization infrastructure	0.00	NA	NA	NA	NA	0.00
Modernisation of the Operatiоns Room of Sofia Air Traffic Control centre (ATCC)	0.33	NA	NA	NA	NA	0.33
Modernization of DVOR/DME	0.00	NA	NA	NA	NA	0.00
Modernization of Voice Communication Systems (VCS) in Air Traffic Control Centers in Sofia, Varna and Burgas	0.04	NA	NA	NA	NA	0.04
New V4 of the SATCAS ATM System, Simulator and Contingency ATM System	0.08	NA	NA	NA	NA	0.08

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	(0.32)	NA	NA	NA	NA	NA
Building of Contingency and Data Center and Equipment	(0.11)	NA	NA	NA	NA	NA
Distributed virtualization infrastructure	0.00	NA	NA	NA	NA	NA
Modernisation of the Operatiоns Room of Sofia Air Traffic Control centre (ATCC)	(0.02)	NA	NA	NA	NA	NA
Modernization of DVOR/DME	0.00	NA	NA	NA	NA	NA
Modernization of Voice Communication Systems (VCS) in Air Traffic Control Centers in Sofia, Varna and Burgas	0.04	NA	NA	NA	NA	NA
New V4 of the SATCAS ATM System, Simulator and Contingency ATM System	(0.22)	NA	NA	NA	NA	NA

Costs by Common Project One (CP1) ATM Functionality (AF)

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	449.01	1,389.07	2,204.41	5,675.76	5,483.58	15,201.82
CP1-AF1	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF2	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF3	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF4	0.00	0.00	0.00	0.00	0.00	0.00
CP1-AF5	147.52	333.87	574.29	1,043.41	1,060.11	3,159.20
CP1-AF6	301.48	1,055.20	1,630.12	4,632.35	4,423.47	12,042.62

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	330.58	NA	NA	NA	NA	330.58
CP1-AF1	0.00	NA	NA	NA	NA	0.00
CP1-AF2	0.00	NA	NA	NA	NA	0.00
CP1-AF3	0.00	NA	NA	NA	NA	0.00
CP1-AF4	0.00	NA	NA	NA	NA	0.00
CP1-AF5	247.18	NA	NA	NA	NA	247.18
CP1-AF6	83.40	NA	NA	NA	NA	83.40

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	(118.42)	NA	NA	NA	NA	NA
CP1-AF1	0.00	NA	NA	NA	NA	NA
CP1-AF2	0.00	NA	NA	NA	NA	NA
CP1-AF3	0.00	NA	NA	NA	NA	NA
CP1-AF4	0.00	NA	NA	NA	NA	NA
CP1-AF5	99.66	NA	NA	NA	NA	NA
CP1-AF6	(218.08)	NA	NA	NA	NA	NA

Costs by Strategic Deployment Objective (SDO)

Determined costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 1	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 2	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 3	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 4	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 5	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 6	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 7	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 8	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 9	0.00	0.00	0.00	0.00	0.00	0.00
Total costs SDO – 10	0.00	0.00	0.00	0.00	0.00	0.00

Actual costs	2025	2026	2027	2028	2029	RP4
Total costs of new and existing investments (M€2022)	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 1	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 2	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 3	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 4	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 5	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 6	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 7	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 8	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 9	0.00	NA	NA	NA	NA	0.00
Total costs SDO – 10	0.00	NA	NA	NA	NA	0.00

Difference (A-D)	2025	2026	2027	2028	2029	RP4
Total difference (M€2022)	0.00	NA	NA	NA	NA	NA
Total costs SDO – 1	0.00	NA	NA	NA	NA	NA
Total costs SDO – 2	0.00	NA	NA	NA	NA	NA
Total costs SDO – 3	0.00	NA	NA	NA	NA	NA
Total costs SDO – 4	0.00	NA	NA	NA	NA	NA
Total costs SDO – 5	0.00	NA	NA	NA	NA	NA
Total costs SDO – 6	0.00	NA	NA	NA	NA	NA
Total costs SDO – 7	0.00	NA	NA	NA	NA	NA
Total costs SDO – 8	0.00	NA	NA	NA	NA	NA
Total costs SDO – 9	0.00	NA	NA	NA	NA	NA
Total costs SDO – 10	0.00	NA	NA	NA	NA	NA

Expected benefit and impact per new major investment Bulgaria | BULATSA

New major investments	SES mandated	Partnership
Building of Contingency and Data Center and Equipment
Distributed virtualization infrastructure
Modernisation of the Operatiоns Room of Sofia Air Traffic Control centre (ATCC)
Modernization of DVOR/DME
Modernization of Voice Communication Systems (VCS) in Air Traffic Control Centers in Sofia, Varna and Burgas
New V4 of the SATCAS ATM System, Simulator and Contingency ATM System	X

Public funding granted for total CAPEX (CEF/TEN-T)