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Sarajevo Times > Blog > BUSINESS > How the Military Industry operated in BiH: Who is growing, whose Results are worrying?
BUSINESS

How the Military Industry operated in BiH: Who is growing, whose Results are worrying?

Published March 28, 2023
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Companies that operate as part of the dedicated industry of the Federation of Bosnia and Herzegovina (FBiH) operated last year with varying degrees of success. Most of them improved their results, i.e. increased their incomes and earnings, BiznisInfo.ba reports.

In this, unfortunately, the deteriorating security situation in the world, wars and the fact that numerous countries have increased their military expenses as a precaution, worked to their advantage. The results of all companies are not yet known, but for those for which results are known, it is shown there was a positive trend in business, with some exceptions.

The company Unis Ginex from Gorazde last year had record revenues of 62 million BAM, which is about 10 million BAMmore compared to the previous year. For the sake of comparison, revenues in 2019 and 2020 were between 30 and 40 million BAM. Therefore, it can be said that the company managed to almost double its revenues in a few years.

The company Pretis from Vogosca near Sarajevo achieved total revenues of around 54 million BAM last year. For the sake of comparison, a year earlier they amounted to around 45.3 million BAM. But this difference does not show the true situation.

At the same time, the company recorded a profit of 5.8 million BAM last year, while the year before it operated with a loss of around one million BAM.

The company that experienced a real renaissance last year is the Hadzici Technical Repair Facility. After several years of business torture, losses and business on the verge of survival, the company increased the number of employees last year, generated millions BAM and made a profit.

The business income of the company last year was 4.7 million BAM, which may not seem like much, but it is a significant increase compared to previous years. For the sake of comparison, in 2021, revenues were only around 860 million BAM.

In addition, the company operated positively in 2022 with a profit of 163 thousand BAM, while a year earlier it had a loss of about 647 thousand BAM. The number of workers has more than doubled, from 32 to 85, the company’s financial report shows.

On the other hand, the largest domestic company in the field of dedicated industry, Igman Konjic, last year achieved a significantly worse result than the year before, which is the biggest surprise.

Last year, the company achieved total revenues of 125 million BAM, which is even 25 million BAM less than the year before, when they were around 150 million BAM. Expenditures were also reduced from about 143 to 121 million BAM, Biznis Info reports.

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TAGGED:#ammunition#bosnia#business#export#news#weapons
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