Koper, 22 August (STA) - Port operator Luka Koper saw its revenue grow by 3% to EUR 163.3 million in the first half of 2024. Net profit increased by 3% to EUR 32.8 million. The company labelled the results as good, adding that most financial indicators exceeded the planned targets.
Despite the gradual slowdown of the economy and the strained situation in the Red Sea, Luka Koper recorded growth in transshipment in the second quarter, especially in the container segment.
In the first six months of the year, total transshipment amounted to 11.3 million tonnes of cargo, down 1% from the same period in 2023.
The cargo terminal handled 548,096 tonnes of cargo, down 1% from the same period in 2023. The first months of the year were marked by delays in shipments but the situation improved significantly in April so Luka ended the second quarter with a 5% increase in transport.
Throughput of cars fell by 9% year-on-year to 409,460 vehicles because of delays and the cooling of the car market.
Growth was recorded in throughput of general cargo (+9%) and liquids (+4%), as well as fertilisers, wheat and phosphates. Dry bulk and bulk cargo throughput was lower due to a gradual coal phaseout.
Net revenue of EUR 163.3 million was 1% below the target but 3% higher than in the first half of last year. It was boosted by more container filling and emptying services, while the revenue from warehousing charges was lower due to faster turnaround.
Earnings before interest and taxes (EBIT) were EUR 37.3 million, 26% above the target but down 1% year-on-year. The company recorded lower energy, material and management costs, while labour costs increased. EBITDA stayed level at EUR 54 million.
Luka Koper launched an investment cycle at the start of the year. It invested EUR 20.7 million in the first six months of the year, which is 7% more than in the first half of 2023. Higher investments are planned for the next quarters.
