The Slovenia Times

Luka Koper group net profit up 169% to EUR 41.5m in first half


Koper - Port operator Luka Koper reported a group net profit of EUR 41.5 million for January-June, up 169% on the year before, as sales rose 35% to EUR 155.1 million. Cargo volumes rose by 13% to 11.7 million tonnes, the company said on Friday.

Containers remain the most important cargo segment and volumes rose by 3% to 526,500 units (TEU), despite delays in shipments from major Chinese ports that Luka Koper says affected the port schedule.

General cargoes were up by 25% on robust iron ore shipments, whereas the volume of liquid cargoes rose by 41% and bulk cargo was up 20%, shows the company's interim report released on Friday. Car shipments rose by 11% to over 367,000 units.

Volumes were not the only driver of revenue as sales were bolstered by higher warehousing fees as cargo spent more time at the port, as well as higher overall prices.

Operating expenditure increased substantially as well, by 11%, but at a far slower pace than revenue.

Operating profit (EBIT) thus stood at EUR 48 million, up by 170% over the year before.


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