How Did the Giants of the Defense Industry Perform in the FBiH Last Year?

(Patria) - The defense industry recorded record results last year.

Portal BiznisInfo.ba published data on how the largest defense industry companies in the FBiH performed last year.

As can be seen, Igman Konjic had the highest revenues, while Pretis from Vogošća had the highest profit.

The company Igman from Konjic dramatically increased its revenues last year to around 179 million KM. For comparison, total revenues a year earlier were around 134 million marks.

Igman is the largest domestic company in the defense industry by revenue. The company's net profit last year was modest, amounting to around 1.5 million KM.

The FBiH Government is the largest shareholder with a 51 percent stake. The second largest shareholder, with about a third of ownership in Igman, is the Ahmetlić family, which stands behind the company Hifa Petrol.

The Ahmetlić family put their stake up for sale last month for 34.6 million KM, but a buyer has not yet appeared.

Pretis from Vogošća achieved total revenues of as much as 153.8 million marks last year. To understand the scale of growth, let us recall that a year earlier revenues were 76.5 million marks.

Thus, revenues doubled in one year, during which this defense industry company experienced incredible expansion.

The company's profit last year was 38.6 million marks, almost four times higher than a year earlier when it amounted to around 11 million KM.

Let us recall that the majority owner of Pretis is the Federation of BiH with 51 percent of shares. Last year, the company Sikto d.o.o. Sarajevo acquired a stake of 41.53 percent.

The revenues of the company Unis Ginex exceeded one hundred million KM for the first time last year.

The total revenues of the Goražde giant last year were 102 million marks. This continued, and even accelerated, the company's rapid multi-year growth. For comparison, a year earlier revenues were 78.5 million marks.

Interestingly, expenses grew much less, from 57.4 million to 62.8 million marks.

Therefore, the company achieved excellent earnings. Net profit last year was 35.6 million marks, compared to 19 million KM a year earlier.

The majority owner with 51 percent of shares is the Federation of BiH. The second largest shareholder is Goražde businessman Halil Oković, owner of the company Okac.

The company Binas Bugojno had total revenues of 45.5 million KM last year.

For comparison, a year earlier revenues were around 25 million KM, which speaks to the growth this company recorded. Total expenses grew from 24.7 million to 39 million marks.

Binas achieved a net profit of 6.1 million marks last year. A year earlier, profit was 276 thousand marks.

Binas is one of the leading domestic companies in the defense industry. The company is engaged in the production of explosives.

The Federation of BiH is the majority owner with 51 percent of shares. The company Sikto d.o.o. Sarajevo, which we have already mentioned, is the second largest shareholder with 25.6 percent of shares. It acquired shares in Binas at the same time as in Pretis.

The company Pobjeda Technology Goražde (PTG) recorded a decline in revenues and profit last year.

The company had total revenues of 69.3 million KM last year, slightly lower than a year earlier when they were 73 million.

Total expenses fell from 67.3 million to 64.4 million marks. Profit amounted to 4.5 million, compared to 5.3 million marks a year earlier.

PTG is engaged in the production of ammunition. The company has recorded strong revenue growth in recent years. Unlike the aforementioned companies, PTG is privately owned.

The company got new owners in 2022 and 2023, namely businessmen Hamid Pršeš and Halil Oković, who also have significant stakes in Unis Ginex. Previously, the majority owner of PTG was the American company Grasso Holdings INC.

The explosives manufacturing company Pobjeda-Rudet Goražde achieved total revenues of 44.6 million KM last year. This is significant growth compared to a year earlier when revenues were 40 million KM.

Expenses also increased, so net profit ended up at 4.7 million KM, similar to a year earlier when it was 5.5 million.

The owner of the Goražde company is the Turkish company Kirlioglu Kimya Sanayi ve Ticaret Anonim Sirketi.

Pobjeda-Rudet d.d. Goražde is a company with a well-known industrial tradition in the production of initiating devices for civilian use. The company produces detonators, detonating cords, and caps.