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Luka Koper Reports January – September 2020 Performance

Luka Koper reports January – September 2020 performance

Source: Luka Koper
Luka Koper d.d. has published the non-audited report on the performance of Luka Koper d.d. and Luka Koper Group in January – September 2020 – November 27, 2020 The impact of the coronavirus pandemic on global cargo flows continued also in the third quarter of the 2020. Nevertheless, the handled volumes of two Luka Koper’s strategic cargo segments, containers and cars, remained stable. In the
first nine months of 2020 we registered a decrease of 3.3% in the container segment compared to the same period last year, which is a relatively good result compared to other European ports. Car volumes registered, if we take in consideration the half-year figures, even a positive trend in the third quarter. Comparing the 1-3Q car volumes we registered a 15.4% decrease, while in the first half the decrease was 20.5%. Other comparable ports registered higher drops in handled quantities. Compared to the 2019 period, the throughput of solid fuels continued to decrease. In accordance with the European legislation, which anticipates decarbonization in all economic sectors, the throughput of steam coal is decreasing accordingly. As regards liquid fuels, there is an obvious impact of the pandemic on the airline industry. The reduced production in the automotive industry has affected the whole supply chain, marking a decrease of volumes in steel products on the general cargo terminal as well as raw materials on the dry bulk terminal. The total maritime throughput (14,9 million tons) was down by 16% compared to the same period in 2019, affecting net sales of Luka Koper Group which reached €155 million or 11% less compared to 1-3Q 2019. EBIT reached €22 million, a 44% decrease, mostly because of the lower sales and higher labour costs, as consequence of the implementation of the three-pillar employment system. To consider is also the tax for the construction of the railway track Divača – Koper, which became effective in March 2019. The EBITDA reached €43 million, while net profit of the Group amounted to €22 million. “Despite challenging market situation, the company continued with investments aimed to increase the port facilities. We expect a positive trend of cargo volumes after the pandemic, and we are adapting the infrastructure for the post-covid situation”, stressed Mr Dimitrij Zadel, president of the management board of Luka Koper, d.d. The Group has allocated €50 million for investments in the first nine months, a 97% increase compared to the same period of 2019. Two major projects were completed this year, the Ro-Ro berth and additional railway sidings for the car terminal. The construction of the new garage for cars with 6.000 units capacity is in full swing and is expected to be completed in March 2021. In August we started with the quay extension at the container terminal and with the construction of the third truck gate – both projects should be finished at the end of the first quarter of 2021. Luka Koper d.d. is the operator of Koper port. Source: Luka Koper d.d.

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