Tomašević argues that the decline in income in Holding is not a problem: 'It doesn't matter if they are bigger or smaller...'

In response to criticism over declining revenue figures, Zagreb's mayor, Tomislav Tomašević, has asserted that the size of the income itself is not the primary concern when evaluating the performance of the Zagreb Holding company. Instead, he emphasized the importance of whether the company operates with profit or loss and the quality of services it provides to citizens. According to Tomašević, the Holding has been operating positively for three consecutive years, which contrasts sharply with previous years when it recorded losses. He argued that the success of public enterprises should not be measured solely by the amount of revenue but rather by the quality of service delivered and stable operations. The annual revenues of the Zagreb Holding in 2025 were lower compared to the previous year. However, Tomašević pointed out that this decrease does not necessarily reflect poor management. He highlighted that the company’s ability to maintain profitability despite the drop in revenue demonstrates effective financial stewardship. Furthermore, he noted that the credit rating of the Holding has improved significantly over the past five years, with the city of Zagreb achieving its highest-ever credit rating. This upward trend in ratings indicates a stronger financial position and better management practices within the Holding. Tomašević also addressed the execution of the city's budget for the previous year, emphasizing that Zagreb was among the few large cities that did not end the year with a budget deficit. He listed several other Croatian cities that faced deficits, including Split, Karlovac, Velika Gorica, Osijek, Vinkovci, Šibenik, Zadar, Sisak, Kutina, and Našice. Each of these cities had varying amounts of deficits, ranging from 10 million euros to 82 million euros. In contrast, Zagreb managed to avoid such a shortfall, which Tomašević viewed as a significant achievement. He further explained that the objective of public companies like the Zagreb Holding is not to generate substantial profits but to provide high-quality services to citizens at the lowest possible cost. Tomašević clarified that if the Holding were generating large profits, it would imply that they are essentially making money off the citizens rather than keeping service costs as low as possible. This perspective underscores his belief that the role of public enterprises is to serve the community effectively without exploiting their position for excessive financial gain. The mayor also mentioned that the Holding aims to operate with minimal profit or even break-even, ensuring that there is no loss incurred. This approach aligns with the broader goal of maintaining affordable services while still being financially sustainable. Tomašević stressed that the focus should be on delivering value to the citizens rather than maximizing profits, which is a common practice in private enterprises but less so in public ones. As the discussion around the Holding's financial performance continues, stakeholders and experts will likely scrutinize the company's strategies and outcomes more closely. The upcoming meeting of the City Council could bring forth additional insights into how the Holding plans to address current challenges and ensure continued positive operations. With the city's financial health being a critical factor in its overall governance, the responses and actions taken by the Holding will be under close watch by both the public and relevant authorities.