About Bosnalijek

Bosnalijek is the largest industrial manufacturer of medicines in Bosnia and Herzegovina. The company’s financial performance is critically dependent on export of its products.

In 2013-2016, thanks to Haden’s buying into the share capital of Bosnalijek, the latter received a serious impetus for development. Haden’s business ties with the largest Russian distributors of pharmaceuticals were the key factor that drove Bosnalijek’s financial and business performance.

In 2013-2016 Bosnalijek demonstrated the following results:

2013 2016 Growth 2016/2013 Growth 2016/2013, %
Sales 99 328* 135 815* 36 487* 37%
Sales Eastern Europe and Russia 51 524* 73 000* 21 476* 42%
Net profit 113* 9 476* 9 363*
Net profit, % 0,1% 7,0% 6,9%
EBITDA 10 076* 21 730* 11 654* 116%
EBITDA, % 10,1% 16,0% 5,9% 58%
Debt 44 174* 21 684* -22 490* -51%
Debt/EBITDA 4,4 1,0 -3,4 -77%
Retained earnings -3 208* 23 181* 26 389*

*thousands of KM (1,95583 KM = 1 EUR)

  • Sales grew 37% (in Eastern Europe and Russia, the growth was even higher, at 42%).
  • Bosnalijek’s debt was reduced by more than half, from 44.1 mln КМ to 21.7 mln КМ.
  • EBITDA grew 116%, from 10 mln КМ to nearly 22 mln КМ.
  • In 2013, the company’s net profit amounted to just 113 thousand КМ, while expanding by an order of magnitude to 11.1 mln КМ in 2015, and 9.5 mln КМ in 2016.