Pretis from Vogošća, one of the leaders in the domestic defense industry, released a financial report that sheds new light on the company’s business operations.
The company announced its report for 2025, along with updated data for 2024. The 2024 data is especially notable because it differs significantly from what was previously reported in the official financial report for that year, BiznisInfo.ba writes.
Last year, it was published that Pretis had revenues of 153.8 million BAM in 2024, expenses of 110.9 million BAM, and a profit of about 38.7 million BAM.
Completely Different Data
However, completely different data has now been released. Joint-stock companies usually include data from the previous year alongside current figures in their annual reports.
The 2025 report also contains new data for 2024, and this is where the problem arises, as these figures significantly deviate from those previously published.
The latest data show that Pretis in 2024 achieved revenue of 129.2 million BAM, while expenses reached 162 million BAM, resulting in a financial loss of about 32.9 million BAM. Instead of the previously reported profit of 38.7 million BAM, a significant loss has now emerged.
The difference in reported results amounts to about 70 million BAM.
One item now appearing in the 2024 report is “changes in inventories of finished goods, semi-finished products, and work in progress, net,” amounting to 39.2 million BAM. In the previous report, this item was recorded as 0 BAM.
In May last year, there was a change in the Management of Pretis. During that period, information reached the public stating that the previous Management had ‘window-dressed’ financial results to create the impression of successful business operations.
Stabilization in 2025
The new report offers positive news for 2025. Last year, Pretis achieved revenues of 151.9 million BAM, expenses of 141.2 million BAM, profit of 10.7 million BAM, and a total result of 15.9 million BAM.
This indicates that the new Management, based on current data, has managed to stabilize the company’s business operations.
Pretis is majority-owned by the Government of the Federation of Bosnia and Herzegovina, which holds 51 percent, while Sikto, backed by US-based Regulus Global, owns about 41 percent of shares.
Relations between these two major shareholders are strained, and recently mutual accusations have been exchanged. Sikto also holds about a quarter of the ownership in Binas.
