The Slovenia Times

Port of Koper reports EUR 27.1m in H1 net profit,


Net sales revenue for Luka Koper reached EUR 105.5m, 10% more than in the first half of 2016, show the unaudited results.

Transshipment for the entire group rose by 6% to 12m tonnes, with an absolute monthly record of 2.3m tonnes being set in May. Transshipment of containers increased by 9% while transshipment of cars was down 2%.

The revenues of the group increased by 7% to EUR 108m and net profit by 15% to EUR 27m.

The company, which has a workforce of 1,090, spent EUR 29.4m on investment between January and June.

The results were discussed by the supervisors today at a marathon session whose agenda also included staffing affairs, all amid continuing tensions with state assets custodian SSH, which recently overhauled the supervisory board.

The current management seems to have the backing of the Workers' Council, which wants SSH to replace the newly appointed supervisors.

There has been speculation that the management could be replaced, but according to statements made after the session by chief supervisor Rado Antolovič the conclusion had been reached that "it is time to calm things down".

As regards the view of the supervisors that the Luka Koper management should back the government in efforts to prevent the rejection of the planned upgrade of the rail track to the Koper port in an upcoming referendum, he said the decision on this has been left to the managment.

"Everybody with some common sense is aware that the second rail track is important. It is the management that has to come to the solution on how it will be built," Antolovič said.

The supervisors also discussed the alleged comeback attempt by former CEO Gašpar Gašpar Mišič, who led Luka Koper between August 2013 and April 2014, when he was dismissed because of "the non-functioning of the management".

The dismissal was declared null and void by a higher court in December last year and Gašpar Mišič was awarded an alleged compensation of EUR 130,000. The former Luka Koper boss is reportedly ready to forget about the compensation if he gets reappointed.

Antolovič said no conclusions on this had been reached today. The case was simply handed over to the management.


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