Koper - The logistics group Intereuropa saw its sales revenue increase by 17% year-on-year to EUR 176.7 million in 2021. Its net profit rose by 88% to EUR 6.7 million, shows the group's unaudited report published on Wednesday.

Last year's net profit was EUR 3 million above the planned figure, the group's highest net profit since 2007, and sales revenue was 11% above plans.

Sales were above plans in all three business segments, with intercontinental transport performing the best in absolute terms, the company said, which was driven by rising sea fares and air fares due to a shortage of capacity, in addition to the increase in sales volumes.

Gross operating profit (EBITDA) of EUR 13.8 million increased by 12% year-on-year and was 6% above the planned figure. Operating profit was 40% above the expectations, totalling EUR 7.1 million, up by 23% on 2020, the company said.

The group further reduced its net financial debt, which was EUR 35.8 million at the end of 2021, down EUR 8.6 million compared to the end of 2020.

Intereuropa noted that they had managed to achieve their highest turnover in nine years despite the epidemic and a difficult economic situation due to the energy crisis in the second half of the year.

The core company saw its sales revenue rise by 18% to EUR 122.3 million, 15% above plans, and its EBITDA was down by 1% to EUR 8 million.

The company's operating profit stood at EUR 4.1 million, down 5% on 2020 and 36% above the target.