This week, the Government of the Federation of Bosnia and Herzegovina (FBiH) appointed new members of the Supervisory boards in the special-purpose industry companies Igman from Konjic and ”Bratstvo” – Factory of Machines and Hydraulics (BNT-TMiH) from Novi Travnik.
Bernadin Alagic and Mustafa Fazlic were appointed acting members of the Supervisory Board of Igman, and Dzana Smailbegovic and Milena Brkic of BNT-TMiH. This is an introduction to the management changes of these special-purpose industry companies.
The change of management in recent years has produced good results in some companies, such as the Technical Repair Institute Hadzici and Binas Bugojno, so it remains to be seen whether this will be the case here as well.
In the first half of this year, Igman had total revenues of 39.2 million BAM, compared to 48.2 million from the same period last year. The company achieved total revenues of 125 million BAM for the whole of 2022, which is 25 million BAM less than the year before when they were around 150 million BAM. It is not known why the revenues of a company in which a lot of money has been invested, during a good market situation, are falling.
The company BNT-TMiH achieved a loss of about 5.17 million BAM last year. This result is based on a loss of 4.4 million BAM in 2021. Therefore, in two years, the company made a loss of almost 10 million BAM.
Last year, the company had total revenues of 12.71 million BAM, but expenses were 17.88 million BAM. It should also be mentioned that this is a company that announced a few years ago that it produced the first piece of heavy artillery in BiH – a self-propelled howitzer.
The public has never been fully informed whether the export of this howitzer has started, how many were produced, and exported, where they ended up, and what is happening with that program now. The financial result of the company clearly shows that the work in this company is not going according to plan, nor is the program developing as it was intended.
Big growth in exports this year
In the first seven months of this year, BiH exported weapons and ammunition worth almost 167 million BAM. This is by as much as 43 percent more compared to the same period last year when the export of these products amounted to 116.6 million BAM.
