Business Leader of Bosnia and Herzegovina
The most successful private business system in Bosnia and Herzegovina (BiH) comprises ASA and Prevent companies with annual revenues of 408 million Euros. Based on Poslovne novine survey „Top 100 in BiH“ this business system was second in the terms of revenues second to the public electric company „Elektroprivreda BiH“ with 463 million Euros revenues in 2008. Third placed is the world’s leader in production of steal and iron ArcelorMittal with revenue of around 366 million Euros followed by two public mobile phone operators BH Telecom and Telekomunikacije Republike Srpske, and Aluminij from Mostar.
While receiving the award at the ceremony held in Sarajevo, vice-president of ASA Holding Board and director of Financial division Emir Ahmetagic debated global economic crisis that affects all businesses but expressed hope that the Group will keep the position of the strongest private company in the country with increased market share. “Maintaining business stability is our priority”, highlights Amhetagic and adds “we will use our internal reserves, but won’t let business opportunities that may arise on upset markets to pass by in order to increase our market share”.
After the Aluminij and the ArcelorMittal, the Group is the third largest exporter with 143 million Euros, but before Elektroprivreda BiH, Energoinvest and Cimos TMD AI. The Aluminij’s export was just over 245 million Euros, and the ArcelorMittal’s over 194 million Euros. “This award is recognition for our 3.000 employees who, in spite of economic crisis that affected automotive industry the most, achieved noticeable results and once more underlined world class in manufacturing car components”, said Admir Pejkusic, president of Board of Prevent BH at the ceremony on Thursday.
In 2007, the Group had generated revenues of 359 million Euros of which export was 125 million Euros. The Group plays significant role in development of entire BiH’s society through sponsorship of cultural events, sports associations, donating reconstruction of infrastructure in local communities, and especially education of youth of poor social and financial condition through the Hastor Foundation.
The business system is composed of 18 companies of ASA Group operating in areas of vehicles, finance and services, and six companies from Prevent Group manufacturing components for automotive industry, safety gloves and other protection equipment, rubber inflatable boats.
At the beginning of July the Independent Agency for Promotion of Managers and Companies based in BiH selected regional “Super Champions of Business” for 2009 and they are Agrokor’s CEO Ante Todoric from Croatia and ASA and Prevent’s Nijaz Hastor.
