Binas Expands Production as Bosnia’s Defense Industry Recovery Accelerates
Ammunition manufacturer Binas in Bugojno has recorded a sharp increase in revenue and profit, reflecting the broader expansion of Bosnia and Herzegovina’s defense industry. The company’s income rose significantly in 2025 as international demand for munitions continues to grow.
The ammunition manufacturer Binas has recorded a sharp increase in revenue and profit, underscoring the ongoing expansion of Bosnia and Herzegovina’s defense manufacturing sector.
According to recent financial data, the Bugojno-based company generated approximately €32.6 million in revenue last year, compared with about €23.3 million in the previous year. The results represent one of the strongest financial performances for the company in recent years.
The latest figures mark a significant recovery compared with the company’s situation earlier in the decade. In 2021, Binas reported revenue of roughly €0.8 million while operating at a loss, highlighting the scale of the turnaround achieved over the following years.
Profitability has also improved considerably. Net earnings exceeded €7.7 million last year, up from approximately €3.1 million recorded a year earlier. The company had previously reported losses in 2021.
Binas produces various types of ammunition and explosive components and supplies customers across several international markets. Export destinations include countries such as the Czech Republic, Slovakia, Romania, Italy, France, Türkiye, Croatia, and Serbia.
Growing demand has led to increased production activity. The company has launched recruitment for more than 100 additional employees as it seeks to expand manufacturing capacity and fulfill new orders.
Plans for further industrial expansion are also under consideration. A new production facility is expected to be developed in the Krajina region, which could increase output and strengthen the company’s export capabilities.
The Federation of Bosnia and Herzegovina remains the majority owner of the company with a 51 percent stake.
Industry observers indicate that the recovery of Binas reflects broader trends across Bosnia and Herzegovina’s defense sector, where several manufacturers have increased production and exports in response to rising international demand for ammunition.
