Luka Koper publishes information about the supervisory board meeting of August 31, 2018

Koper, Slovenia (Ports Europe) September 4, 2018 - At its ordinary meeting held on August 31, 2018, the supervisory board of the company Luka Koper d.d. was presented with the unaudited business report of the parent company Luka Koper, d.d. and Luka Koper Group for the period January–June 2018. The presented performance indicators are a result of favourable growing trends in throughput, especially with regard to containers where the number of units handled in the first half of the year increased by 6% compared with the same period last year, and a 17% growth was reported in-car throughput as well. Net sales on Group level totalled €113.3 million ($130.97 million), which was 5% higher than the net sales achieved during the comparable period last year. EBIT reached €42.5 million ($49.13 million), resulting in a 33% increase compared to last year. Profit was 27% higher than the profit achieved during the comparable period last year and totalled €34.8 million ($40.23 million). The increase in EBIT and net profit was also a result of the one-off event corresponding to received compensation for the accident occurred last year in the amount of €9.1 million ($10.52 million). At the meeting, the supervisory board also discussed and approved the amendments to the company’s plan for 2018. The amended version of the plan was elaborated by taking into consideration the results actually registered in the period January-July 2018 and the changed dynamics of investments caused by the long-lasting process for obtaining consents and permits, and the procedures for public procurement implementation. The amended plan also considered the one-off revenue resulting from received compensation that was recognised in the first half of 2018, and the throughput tax imposed by the ‘Second Track Act’ which, according to an estimation, the company will most probably start to settle only in December and not in July, as initially anticipated in the Company’s business plan. Due to already mentioned issues related to the obtaining of approvals and permits for planned investments and due to long-lasting public procurement proceedings, the initially planned volume of investments will almost halve. However, in this respect it is necessary to point out that the company succeeded in moving forward the Pier I extension project which is of strategic importance for the port’s future development; the Company is currently waiting for the pier extension building permit. Another major investment is the new Sermin trucks entrance project where preparatory works are already in course. The supervisory board also approved the company’s investment in the new parking garage for 6,000 cars and took note of the state of construction of a Ro-Ro berth in Basin III. At its meeting, the company’s supervisory board was also acquainted with the report on the implementation of the IPS Strategy in the period May - August 2018 and with the activities planned with this regard. As already explained, the above-stated strategy is based on a three-pillar model: employment with Luka Koper, employment with the so-called employment agencies and external contractors. The company plans to launch public tenders for strategy implementation in September in order to have the new model put into practice latest by 1 January 2019. On this occasion, the company takes the opportunity to inform the public that it received the notification of the Special Financial Office FURS (Financial Administration of the Republic of Slovenia) regarding the corporation tax accounted for 2017, in the part referring to created provisions. The company will examine the notification and will respond within the prescribed time-limit. Source: Luka Koper Copyright (C) Ports Europe. All Rights Reserved. 2018.

Luka Koper publishes information about the supervisory board meeting of August 31, 2018

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Luka Koper publishes information about the supervisory board meeting of August 31, 2018

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All news

New Caspian ferry line Turkmenbashi-Olya might finally launch

Kazakhstan’s ports handled 6.2 mln tonnes of cargo in Jan-Oct’24

DFDS finally buys Ekol Logistics

Two cocaine shipments, 720 kg and 720 kg, seized in Vlissingen port

Malta sees reduced cruise ship passengers in Q3 2024

Our Expert Analysis

Latest Free Reads

Top Ports