In 2025, the railways of the Federation of BiH transported 5,858,478 tons of goods, which is 9.32 percent less than in 2024, while the number of passengers increased to 355,937, with an increase in losses due to the shutdown of Koksara and the drop in international traffic.
At the press conference of Railways of the Federation of Bosnia and Herzegovina held today in Sarajevo, the preliminary results of operations for the year 2025 were presented, as well as estimates of the impact of economic trends on this public company. Growth was achieved in passenger traffic, but freight transport recorded a decline, which directly affected revenues and the overall financial result.
Acting President of the Management Board-General Director of ŽFBiH Mirza Hadžibegić spoke about business in 2025, the role and importance of Railways and warned that the current circumstances in the BiH economy indicate a very difficult and uncertain period for this company. He particularly highlighted the consequences of the shutdown of Koksara, one of the largest strategic partners of Željeznica FBiH, which had a share of about 30 percent in total revenues from goods transportation services.
Hadžibegić stressed that the shutdown of Koksara represents a direct and strong blow to revenues and the organization of transport itself. The loss of income on an annual level is estimated at 25 million KM, with around five million KM related to Railways of the RS. According to him, the FBiH Railways will only partially compensate this loss through the transport of coke from the Port of Ploče to the Nova Željezara in Zenica, but these revenues will be significantly lower compared to those provided by Koksara.
Speaking about Nova Zeljezara Zenica, Hadžibegić pointed to announcements that ore from the Ljubija mine will be available for the next two to three years, with the possibility of bankruptcy and an earlier stoppage of production. Such a development would, as he said, directly and indirectly lead to a decrease in income by more than 20 million KM per year, further complicating business operations and putting into question the liquidity, but also the existence of about 2,500 workers of the ŽFBiH.
According to preliminary results, in 2025 the company achieved total revenues of 106.8 million KM, which is 23.2 million KM less than the previous year. Of this, revenues from transport contracts with customers amount to 76.6 million KM and are lower by 22.5 million KM compared to 2024. Other revenues reach 30.2 million KM and are lower by 758,352 KM compared to the previous year.
The total expenses for the last year amount to 142.8 million KM and are lower by 1.4 million KM than the year before. Business expenses are 132 million KM, which represents a decrease of 6.9 million KM compared to the previous year. The largest part of business expenses refers to the costs of salaries and other personal income, which amount to 85 million KM, and to depreciation costs in the amount of 25.6 million KM. Other expenses and losses amount to KM 10.8 million and are KM 5.5 million higher than the previous year, with the debt of Koksara Lukavac amounting to KM 8.2 million being the most significant claim.
In such circumstances, a loss from regular operations was realized in the amount of 36 million KM, which is 21.7 million KM more than the loss recorded in 2024. Hadžibegić cited a dramatic drop in international goods transport by as much as 51.1 percent as the key cause of this result, as a result of which revenues fell from 46.7 million KM to 22.8 million KM.
He reminded that the year 2025 began with the interrupted southern railway, and that freight traffic was established in February. Due to these circumstances, 50 percent of the contract with Elektroprivreda Srbije remained unrealized, because the goods were permanently diverted to other transport routes. This further reduced the volume of work and deepened the financial problems of the FBiH Railways.
On the other hand, this year, compared to last year, there are significantly higher allocations from the budget of the Federation of Bosnia and Herzegovina. The railways received 34 million KM, instead of the earlier 24 million KM intended for the financing of railway infrastructure and co-financing of passenger traffic, and an additional nine million KM based on the Law on Financial Consolidation of Railways.
Hadžibegić concluded that a complete restructuring and change of the business model must be carried out, along with the mandatory modernization of all processes in ŽFBiH. He pointed out that this implies financial consolidation of the company, modernization of railway infrastructure and work processes, and financial, energy and ecological sustainability, with the support of the Government and Parliament of FBiH. He also pointed to the need for urgent adoption of the Law on the Transportation of Dangerous Goods, as one of the prerequisites for a more stable and safer functioning of railway traffic, Fena news agency writes.
