Annual Report (ESEF) • Apr 19, 2024
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Download Source FileThe Management Board of Luka Koper, d. d., is responsible for the preparation of the Annual Report hereof, including the financial statements and notes thereto, that give a true and fair view of the financial position of Luka Koper, d. d., and the Luka Koper Group as of 31 December 2023 and of their financial performance for the year then ended.
The Management Board confirms that the Annual Report for the Luka Koper Group and Luka Koper, d. d., for 2023 with all its component parts: Management Report, Sustainability Report, Accounting Report, including the Corporate Governance Statement, has been devised and published pursuant to the legislation in force and International Financial Reporting Standards.
The Management Board confirms that accounting policies were consistently applied and that the accounting judgements were made under the principle of prudence and due diligence of a good manager.
The Management Board further confirms that the financial statements of the Company and the Group have been compiled under the assumption of a going concern of the parent and its subsidiaries and in accordance with the applicable legislation and International Financial Reporting Standards as adopted by the EU.
The Tax Authorities may, at any time within a period of 5 years after the end of the year for which tax assessment was due, carry out an audit of the Company operations, which may lead to assessment of additional tax liabilities, default interest, and penalties with regards to corporate income tax or other taxes and duties. The Management Board is not aware of any circumstances that could give rise to any significant liability on this account.
The Management Board is responsible for adopting measures to secure the assets of Luka Koper, d. d., and the Luka Koper Group, and to prevent and detect fraud and other irregularities or illegal acts.
Koper, 9 April 2024
The Luka Koper Group concluded another very successful year. Business results exceeded expectations, with new milestones reached in cargo throughput and records set in several segments.
Net sales in 2023 amounted to EUR 312.8 million, which was on a par with the level of revenue achieved in 2022. Within net sales, revenue increased by EUR 20 million due to greater container and car transhipment, greater volume of loading and unloading of containers, greater volume of other additional services on goods and higher service prices. Compared to the previous year, due to the normalisation of the situation on the global logistics market and the shortening of the storage time of containers in the storage facility, revenues from storage fees decreased by EUR 21 million.
In 2023, earnings before interest and taxes (EBIT) amounted to EUR 60.9 million, which was a decrease of 27 percent or EUR 22.2 million when compared to 2022. The main contributor to the lower earnings before interest and taxes (EBIT) in 2023 was lower storage fees, while higher operating costs of EUR 23.3 million, which were due to inflationary pressures and higher number of employees and agency workers, were mostly offset by the Luka Koper Group with revenues from other services.
2022, mainly due to a 15 percent lower throughput of general cargo and a 15 percent lower throughput of the dry bulk and bulk cargoes commodity group. In the general cargo group, there was lower throughput of steel products and rubber, and in the dry bulk and bulk cargoes group, lower throughput of soya beans, alumina, phosphates, coal and iron ore. In 2023, 48 percent of freight was transported by road, and 52 percent by rail. In 2023, the ratio changed by 2 percentage points compared to 2022, with an increase in road transport.
In 2023, most of the planned financial indicators were exceeded. Net sales revenues were higher than planned by 8 percent, or by EUR 22.7 million. The main contributor to the higher net sales was storage fee income, which exceeded the planned figure by EUR 19 million, as the business plan had foreseen a reduction in the dwell time of containers due to the calming market conditions. Earnings before interest and taxes (EBIT) were higher than planned by 76 percent, or by EUR 26.4 million. In addition to the higher net sales revenue, the higher earnings before interest and taxes (EBIT) were positively impacted by lower material, labour and depreciation costs, while the higher cost of services was due to an increase in the cost of port services linked to the higher throughput on the car commodity group and the cost of labour placement agencies. According to the plan, the throughput of the cars commodity group (in pieces) was higher by 21 percent, while the throughput of the of containers commodity group (in TEUs) lagged behind the plan by two percent. The total maritime throughput, measured in tons, was 5 percent less than the planned quantities.
The year 2023 began optimistically, indicating the recovery of the global economy. The situation on the energy markets calmed down, energy prices fell, and global GDP growth was stronger than expected. However, global economic growth moderated later in the year. Towards the end of 2023, the impact of the tight financial situation, weak trade growth and lower business and consumer confidence was felt increasingly. Heightened geopolitical tensions have again been fuelling uncertainty about the short-term outlook.
The situation in logistics and supply chains has been further worsened with the start of the Red Sea attacks, affecting all stakeholders in logistics, including the final customers of goods in industrial production who depend on maritime transport through the Suez Canal. Due to the rerouting of ships around Africa, some of the Far Eastern shipping services of Luka Koper d. d., are experiencing delays in the arrival of ships, as transit times have been extended by an average of 10 to 14 days. Indirectly, the delay also affects ships transporting cargo across the Mediterranean via transhipment (hub) ports. In December 2023, there were no significant impacts on business operations. However, due to the above-mentioned uneven distribution of cargo arrivals, delays in the arrival of ships or cargo will be reflected in the realisation of monthly transhipment plans in the first three months of 2024. If the situation does not normalise in the coming months, this could also have an impact on decisions by shipowners/customers to change established transport routes from the Far East to Europe, which could be reflected in smaller volumes of transhipment on arrival.
In 2023, several major investments for the Luka Koper Group were completed, namely the redevelopment of the storage areas in the area of the 5A cassette, the construction of new plugs for reefer containers, the construction of a new external truck terminal at the Sermin entrance, the modernisation of the cooling and extinguishing system at the methanol tanks, and the construction of a transformer substation to power the new galleries. Among the most important investment projects underway are the construction of the 12th berth and the installation of solar power plants, the execution of a public contract for warehouse No 54 and the preparation of documentation and obtaining the relevant permits for the extension of the northern part of Pier I and the development of other areas for the container terminal.
| 22.3 million tons | unloaded from and loaded on ships |
|---|---|
| 1,066,093 TEU | containers unloaded from and loaded on ships |
| 916,728 cars | unloaded from and loaded on ships |
| 20,609 | trains arrived in and departed from the port |
| 422,811 | trucks arrived in the port |
| 262,583 | wagons unloaded and loaded |
| 1,642 |
| NET SALES | EUR 312.8 million | +8% 2023/PLAN 2023 | 0% 2023/2022 |
|---|---|---|---|
| MARITIME THROUGHPUT | 22.3 million TON | -5% 2023/PLAN 2023 | -4% 2023/2022 |
| CONTAINER THROUGHPUT | 1.1 million TEU | -2% 2023/PLAN 2023 | +5% 2023/2022 |
| CAR THROUGHPUT | 916.7 THOUSAND PIECES | +21% 2023/PLAN 2023 | +14% 2023/2022 |
| EARNINGS BEFORE INTEREST AND TAXES (EBIT) | EUR 60.9 million | +76% 2023/PLAN 2023 | -27% 2023/2022 |
|---|---|---|---|
| RETURN ON SALES (ROS) | 19.5% | +64% 2023/PLAN 2023 | -27% 2023/2022 |
| EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTISATION (EBITDA) | EUR 93.7 million | +37% 2023/PLAN 2023 | -18% 2023/2022 |
| EBITDA margin | 30.0% | +27% 2023/PLAN 2023 | -18% 2023/2022 |
| NET PROFIT OR LOSS | EUR 56.4 million | +75% 2023/PLAN 2023 | -24% 2023/2022 |
|---|---|---|---|
| PRICE-TO-EARNINGS RATIO (P/E) | 8.3 | +3.6 2023/2022 | INDICATOR NOT PLANNED |
| RETURN ON EQUITY (ROE) | 10.7% | +67% 2023/PLAN 2023 | -29% 2023/2022 |
EUR 41.5 million
-29% 2023/PLAN 2023
-18% 2023/2022
0.3
-0.7% 2023/PLAN 2023
+0.6 2023/2022
| Calculation | Explanation of the selection |
|---|---|
| Earnings before interest and taxes (EBIT) | Earnings before interest and taxes (EBIT) = difference between operating income and costs. It shows the performance (profitability) of the company's operations based on its core business. |
| Earnings before interest, taxes, depreciation and amortisation (EBITDA) | Earnings before interest, taxes, depreciation and amortisation (EBITDA) = earnings before interest and taxes (EBIT) + amortisation. It is a measure of a company's financial performance and an approximation of the cash flow from operations. Shows the ability to cover write-downs and other non-operating expenses. |
| Added value | Added value = net sales + capitalised own products and services + other revenue – costs of goods, material, services – other operating expenses. Shows the newly created value of the company within one year. It is a measure of economic activity and success. |
| Return on sales (ROS) | Return on sales (ROS) = earnings before interest and taxes (EBIT) / net sales. Shows the operational efficiency of the company. |
| Return on equity (ROE) | Return on equity (ROE) = net income / shareholder equity. Shows the management’s success in increasing the value of the company for the owners or shareholders. |
| Return on assets (ROA) | Return on assets (ROA) = net income / average total assets. Shows how a company manages its assets. |
| EBITDA margin | EBITDA margin = earnings before interest, taxes, depreciation and amortisation (EBITDA) / net sales. Shows business performance and profitability in percent. Used to compare the company performance with other companies. |
EBITDA margin from market activity = earnings before interest, taxes, depreciation and amortisation (EBITDA) / net sales from market activity
Shows the business performance and profitability of market activity in percent.
Net financial debt / EBITDA = (financial liabilities – cash and cash equivalents) / EBITDA
Shows indebtedness and profitability of a company in order to assess the company's ability to settle its financial debts in the future if the company maintains the same volume of business and profit.
Current share price to earnings per share (P / E) ratio = closing price / earnings per share (EPS).
Shows how many euros investors in the market are willing to pay at a given moment for each euro of the company's profit. Used to estimate the value of the company and its shares on the market.
Book value per share = equity / number of shares.
Shows the value of a share based on the value of the company's capital on a given day.
Price-To-Book (P/B Ratio) = closing price / book value of the share.
Shows a comparison of the market value of a unit of the company's capital on the stock exchange with its accounting value on a given day.
Earnings per share (EPS) = net earnings / number of shares.
Expresses a ratio that represents the amount of the company's net profit that it generates on each individual share. A measure of a company's performance (profitability).
Market capitalisation = closing price * number of shares.
Market value of all shares on the market.
The key performance indicators of Luka Koper, d. d., and the Luka Koper Group in 2023 compared to 2022
| Items | Luka Koper, d. d. | Luka Koper Group | ||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Net sales (in EUR) | 309,284,223 | 310,196,680 | 312,772,489 | 313,462,636 |
| Earnings before interest and taxes (EBIT) (in EUR) | 59,233,239 | 81,729,523 | 60,912,423 | 83,114,534 |
| Earnings before interest, taxes, depreciation and amortisation (EBITDA) (in EUR) | 91,496,341 | 112,529,369 | 93,731,962 | 114,602,528 |
| Net profit or loss (in EUR) | 54,450,022 | 73,266,227 | 56,445,369 | 74,159,799 |
| 2023 | 2022 | Index 2023/2022 |
|---|---|---|
| 193,214,462 | 206,107,197 | 94 |
| 203,608,146 | 215,843,817 | 94 |
| 2023 | 2022 | Index 2023/2022 |
|---|---|---|
| 41,259,790 | 50,157,229 | 82 |
| 41,543,822 | 50,784,443 | 82 |
| 2023 | 2022 | Index 2023/2022 |
|---|---|---|
| 22,267,534 | 23,248,795 | 96 |
| 22,267,534 | 23,248,795 | 96 |
| 2023 | 2022 | Index 2023/2022 |
|---|---|---|
| 1,757 | 1,638 | 107 |
| 1,922 | 1,801 | 107 |
| 2023 | 2022 | Index 2023/2022 | |
|---|---|---|---|
| Return on sales (ROS) | 19.2% | 26.3% | 73 |
| Return on equity (ROE) | 11.0% | 16.1% | 68 |
| Return on assets (ROA) | 7.8% | 11.6% | 67 |
| EBITDA margin | 7.7% | 11.1% | 69 |
|---|---|---|---|
| EBITDA margin from market activity | 30.0% | 36.6% | 82 |
| Financial liabilities/equity | 21.8% | 13.3% | 164 |
| Net financial debt/EBITDA | 0.6 | -0.05 | - |
| Items | 31.12.2023 | 31.12.2022 | Index 2023/2022 |
|---|---|---|---|
| Assets (in EUR) | 733,439,080 | 662,680,856 | 111 |
| Equity (in EUR) | 505,347,400 | 480,225,780 | 105 |
| Financial liabilities (in EUR) | 110,134,003 |
| Items | Luka Koper, d. d. | Luka Koper Group | ||
|---|---|---|---|---|
| 2023 | Plan 2023 | 2023 | Plan 2023 | |
| Net sales (in EUR) | 309,284,223 | 287,440,777 | 312,772,489 | 290,071,036 |
| Earnings before interest and taxes (EBIT) (in EUR) | 59,233,239 | 33,439,720 | 60,912,423 | 34,543,649 |
| Earnings before interest, taxes, depreciation and amortisation (EBITDA) (in EUR) | 91,496,341 | 66,283,553 | 93,731,962 | 68,204,522 |
| Net profit or loss (in EUR) | 54,450,022 | 31,296,435 | 56,445,369 | 32,312,492 |
| Added value (in EUR) | 193,214,462 | 171,970,438 |
| Indicators | 2023 | Plan 2023 | Index 2023/Plan 2023 |
|---|---|---|---|
| Investment expenditure (in EUR) | 203,608,146 | 181,818,611 | 112 |
| 41,259,790 | 57,390,573 | 72 | |
| 41,543,822 | 58,853,168 | 71 | |
| Maritime throughput (in tons) | 22,267,534 | 23,333,878 | 95 |
| 22,267,534 | 23,333,878 | 95 | |
| Number of employees | 1,757 | 1,754 | 100 |
| 1,922 | 1,917 | 100 | |
| Return on sales (ROS) | 19.2% | 11.6% | 166 |
| 19.5% | 11.9% | 164 | |
| Return on equity (ROE) | 11.0% | 6.7% | 164 |
| 10.7% | 6.4% | 167 | |
| Return on assets (ROA) | 7.8% | 4.7% | 166 |
| 7.7% | 4.6% | 167 | |
| EBITDA margin | 29.6% |
128
128
126
125
93
94
43
30
| 31.12.2023 | Plan 31 Dec 2023 | Index 2023/Plan 2023 | |
|---|---|---|---|
| Assets (in EUR) | 733,439,080 | 687,353,233 | 107 |
| 774,226,552 | 726,942,642 | 107 | |
| Equity (in EUR) | 505,347,400 | 471,426,149 | 107 |
| 543,052,948 | 508,896,695 | 107 | |
| Financial liabilities (in EUR) | 110,134,003 | 110,317,094 | 100 |
| 110,018,551 |
Dear shareholders and business partners, dear colleagues,
2023 was a dynamic and challenging year in every respect. Despite different forecasts, the world economy has recovered more slowly than expected. The complex logistics situation that characterised 2022 continued in the first half of last year, which was reflected in the delays in the arrival of container ships on direct connections with the Far East and with ports in the Mediterranean, as well as in gradual reduction of freight fares. Shipowners were forecasting reduced services from the Far East at the end of the year, while ports in Europe were faced with high occupancy of car terminals. The escalation of the conflict in the Middle East, which already led some shipowners to temporarily divert their ships to the route around Africa in December, has brought an additional threat to the established flows of goods coming through the Suez Canal. Extraordinary weather conditions brought quite a few challenges last year, the consequences of which were also felt in the port of Koper.
Despite the circumstances, 2023 was a successful year for the companies in the Luka Koper Group, with growth in throughput recorded in both strategic commodity groups. Net sales amounted to EUR 312.8 million, which was 8% ahead of plan. Revenues increased due to higher container and car throughput, a larger volume of container loading and unloading services, additional services, and higher prices, while storage fee revenues decreased due to the normalisation of the global logistics market and the reduction of container dwell times in storage facilities. This affected both earnings before interest and taxes (EBIT), which at EUR 60.9 million was 76 percent ahead of plan, as well as the net operating result of EUR 56.4 million, which was 75 percent ahead of plan, also due to the higher profit from financing.
Although we were somewhat cautious in our forecasts for cargo throughput in 2023, we concluded the year above all expectations in this segment as well. We achieved record volumes for both strategic commodity groups – containers and cars, at the passenger terminal, the reefer terminal and the liquid cargo terminal.
In early December, we reached one million transhipped container units (TEU) at the container terminal for the second time in the port’s history. We also had an excellent performance at the car and Ro-Ro terminal, where in November, we broke the absolute record for vehicle throughput set in 2022. We closed the year at the container terminal with a throughput of 1,066,093 container units (TEU), which is 5 percent more than in 2022, and in the automotive segment with a throughput of 916,728 cars (in pieces), which is 14 percent more than in 2022. We have thus consolidated our position and confirmed our primacy among ports in the northern Adriatic (containers) and the Mediterranean (cars). The results achieved in the vehicle segment are also exceptional in comparison to key automotive terminals in Europe, as we achieved one of the highest growth rates for this commodity group. We also closed the cruise ship arrival season with a new record number of passengers (120,553), and in September, we welcomed our one millionth guest.
Otherwise, the total shipping throughput of 22.3 million tonnes was slightly lower compared to 2022, mainly due to lower throughput of steel products and rubber and soya, alumina, phosphates, coal and iron ore.
In 2023, we continued to actively focus on investment, concluding several important projects in the framework of a EUR 41.5 million development cycle. In the middle of the year, we dedicated new storage space for 3,500 vehicles in the back of Basin III, bringing the total capacity of the car and Ro-Ro terminal to 46,500 vehicles. We have installed new plugs for refrigerated containers at the container terminal and the reefer terminal - the new infrastructure allows, among other things, containers to be stacked up to five levels, making better use of the space within the port. Among the major investments we successfully completed was the construction of a new external truck terminal at Sermin, which is considered one of the most modern facilities in terms of both infrastructure and services. In addition, we have successfully upgraded the port's fire-fighting and power systems and implemented a paperless system for the check-in of freight vehicles at the car terminal.
even double it. By 2025, we intend to cover three more storage facilities with solar panels, bringing the total nominal capacity to 7 megawatts, thus ensuring greater energy independence. Last year, we also successfully completed another European project - 5G Loginnov, as part of which we developed and tested the next generation 5G mobile network for the needs of port services and logistics. This year, we also successfully applied to obtain our own 5G frequency.
We will remain development-oriented in 2024. Early this year, we initiated the much anticipated construction of the 12th general cargo berth and the procurement procedure to select the contractor for the construction of the automated warehouse No 54 for steel products. Documentation and permits are being prepared for the extension of the northern part of Pier I and the development of additional areas for the container terminal. This is one of the largest and most important infrastructure projects in the port of Koper, which will increase the terminal's capacity to 1.75 million TEU per year. Equally important is the investment to provide additional storage capacity for the needs of the car terminal, which, according to the plan, continues already in 2024.
As we emphasised repeatedly, we cannot imagine the further development of the port without a reliable, stable and, above all, fully operational rail link to the hinterland. The second track construction project is already in full swing, with completion expected in 2026. In Luka Koper, we hope to upgrade the project as soon as possible by introducing a parallel (third) railway track, which will ensure better flow and even greater capacity of the railway link between the Slovenian hinterland with Koper. The importance of a reliable rail link for Slovenian logistics is also demonstrated by the volumes of freight transported both by rail and road. Despite the fact that the major share of freight still travels to and from our port by rail, due to capacity constraints and delays in the Slovenian rail network, the share of rail freight has fallen to 52 percent in 2023.
Last year, we also adopted a new strategic business plan for the company and the Luka Koper Group for the period from 2024 to 2028. Over the next five years, our mission will be to provide reliable, high-quality port services in line with sustainable development guidelines - with the aim of becoming the first choice among ports on the European southern transport route. The planned development of the port will be based on four key points of departure, which envisage an increase in infrastructural capacities, accelerated introduction of the smart port concept, provision of an adequate personnel structure, and care for sustainable aspects and reduction of negative impacts on the environment and society. In line with the Group's strategy, Luka Koper continues to maintain the multi-purpose port model, which is one of the key competitive advantages of our company.
We will pay particular attention to infrastructure development and capacity building, and for this purpose we will invest EUR 785 million. We will be active in obtaining funds for investment projects with an emphasis on building infrastructure to supply ships with electricity directly from the shore. We will continue our digital transformation process, which aims to automate and optimise key processes, and take further steps towards the climate transition. In this context, we will work to maintain environmental sustainability standards (EMAS), reduce the company's carbon footprint and increase energy self-sufficiency through renewable energy sources.
Recognising our responsibility towards the environment we live in, we take into account different views and perspectives when planning the development of the port and strive to achieve the highest environmental and social standards. In addition to regular monitoring of noise, light, and dust particles emissions and the quality of marine and groundwater, we have started to modernise and electrify the port machinery in recent years and relocated older and noisier machinery to parts of the port further away from areas of major population. In the coming years, we plan to replace diesel-powered machines and vehicles entirely with electrified ones. In cooperation with Eles, we have actively engaged in a project to build a 110,000-volt transmission line from Dekani to the port and a substation within the port, which is a prerequisite to electrify the quayside and provide ships with uninterrupted electricity. This project is important not only in terms of the increasing electricity use, but it is also one of the key projects of the climate transition.
One such is the introduction of the ESI scheme, on the basis of which, from January 2023, we offer ships with lower emissions of air pollutants an advantage in port dues. Based on this, we aim to attract to the port ships with state-of-the-art engines and cleaner propulsion systems, thus additionally reducing emissions into the atmosphere.
implementation of mitigation measures over the next five years. Last year, we realised another project with the Municipality of Koper - the landscaping and greening of green spaces in the Old Town, for which we allocated a grant of EUR 40,000.
In June, in the margins of an expert conference on port decarbonisation and digitisation, the North Adriatic Ports Association (NAPA) signed a memorandum with which they pledged to jointly boost port decarbonisation and energy efficiency. The Memorandum paves the way for greater institutional and operational cooperation between the ports of the Northern Adriatic in the coming years.
Our responsibility towards the environment and people is also demonstrated by our support for sports, cultural, charitable and other associations and organisations operating in the area, as confirmed by EUR 1.43 million allocated by Luka Koper to sponsorships and donations in 2023. We distribute part of this through the Living with the Port Fund, which prioritises support for small local projects in the field of sustainable development and environmental care. This year, a significant part of these funds was also allocated to help with the aftermath of the August floods across Slovenia. In a joint campaign with Adria Terminali and Goriške Opekarne, we donated equipment and industrial dehumidifiers as well as 241 pallets of bricks to flood victims to rebuild damaged or completely destroyed buildings in the flood area. At the end of the year, we decided to make a dedicated donation of EUR 200,000 for the same purpose, which was paid to the State in early 2024 and will be given to those who need help the most.
We are convinced that a company can only base its success story on its employees, the colleagues who are the heart and soul of every team. Therefore, we consistently make sure to provide a pleasant, stimulating and, above all, safe working environment and, by providing good working conditions, allow our employees to perform their work efficiently and to a high standard. We design and implement projects together, encouraging and supporting each other, but most importantly, we know how to listen to each other, and we respect and trust each other. We respect the rights of employees to freedom of association, membership in trade unions and the Works Council, maintaining good relations with these associations. Recognising that honest relations are the basis for effective work and employee satisfaction, we invest a great deal of effort in regular, frank and respectful communication at all levels.
We are consistent in our respect for gender equality and condemn any discrimination in the workplace, while also paying particular attention to respecting the legal rights of older workers with regard to overtime, night work and additional annual leave days. In 2023, we switched to a new rotating schedule for some work processes, which gives employees more flexibility, makes it easier to plan their working hours and gives them more time off to spend with their families. We offer support to employees in proceedings before the disability commission in finding suitable jobs, and in this respect we successfully cooperate with the disability company Luka Koper INPO, d. o. o.
In 2023, Luka Koper Group established an updated secure channel for internal or external reporting of irregularities, while we keep supporting any expression of suspicion, in good faith or on the basis of reasonable belief, and ensuring that the whistleblower is protected from any punishment or retaliatory measures. Each natural or legal person may address to the Corporate Integrity and Operations Compliance, Personal Data Protection and Human Rights Officer a report of corporate integrity violations for which the Officer is responsible. In January 2024, the company was also successfully audited for the ISO 37001/2016 Management System for the Prevention of Corruption certification.
Since 2019, Luka Koper, d. d., has been a signatory to the Commitment to Respect Human Rights. The company is active within the working group of the Government of the Republic of Slovenia for the implementation of the National Action Plan on Business and Human Rights (NAN). With this commitment, the company also follows the recommendations and expectations of SSH, which expects companies with state-owned assets to implement the relevant principles of the National Action Plan of the Republic of Slovenia on Business and Human Rights and to set an example to other companies in terms of respect for human rights. The existing Staff Dignity Protection Policy is in the final stages of revision and will be transformed into a Policy on Prevention of Harassment and Ill-treatment in the Workplace.
above-mentioned uneven distribution of cargo arrivals, delays in the arrival of ships or cargo will be reflected in the realisation of monthly transhipment plans in the first three months of 2024. If the situation does not normalise in the coming months, this could also have an impact on decisions by shipowners/customers to change established transport routes from the Far East to Europe, which could be reflected in smaller volumes of transhipment on arrival.
On 30 November 2023, the Supervisory Board of the Company, at its ordinary meeting, appointed Gregor Belič and Gorazd Jamnik as new members of the Management Board of the Company, who will take office on 1 January 2024 for a five-year term. Nevenka Kržan remains on the Management Board as President and Vojko Rotar as Member of the Management Board - Worker Director.
President of the Management Board of Luka Koper, d. d.
In 2023 until 6 February 2023, the Supervisory Board was composed of Franci Matoz (Chair), Nevenka Črešnar Pergar (Deputy Chair), Božidar Godnjavec (member), Andrej Koprivec (member), Tomaž Benčina (member), Mladen Jovičić (member), Rok Parovel (member), Mehrudin Vuković (member). At the 36th General Meeting of Shareholders on 6 February 2023, the General Meeting appointed new members of the Supervisory Board for a term of office of 4 years, commencing on 7 February 2023, namely Mirko Bandelj, Barbara Nose, Jožef Petrovič, Boštjan Rader and Borut Škabar. The Supervisory Board in its new composition met at the 1st inaugural session on 23 February 2023 and appointed Mirko Bandelj as chair, and Tomaž Benčina as his deputy. As of 23 February 2023, the Supervisory Board is composed of Mirko Bandelj (Chair), Tomaž Benčina (Deputy Chair), Jožef Petrovič (member), Barbara Nose (member), Boštjan Rader (member), Borut Škabar (member), Mladen Jovičić (member), Rok Parovel (member) and Mehrudin Vuković (member). The composition of the Supervisory Board has been at a high level in terms of professional competence and the members acted in harmony.
The Supervisory Board held two ordinary, one extraordinary meeting and one meeting by correspondence until 6 February 2023. It took note of the convocation of the 36th General Meeting of the Company, considered and approved the proposal of the General Meeting of the Company for the appointment of the external auditor of the financial statements of Luka Koper, d. d., and the Luka Koper Group for the period 2023-2025, approved the proposal of new criteria and the proposals of the Management Board for the increase in the value of investments. On the basis of the approved criteria for the evaluation of the Management Board's performance for 2022, it considered and approved the Management Board's remuneration for 2022 and gave its consent to the employment of a member of the Supervisory Board - employee representative as a professional trade union representative in the Company until 31 January 2027.
The new Supervisory Board took office on 7 February 2023 and held seven ordinary meetings and eight meetings by correspondence in 2023. At its inaugural meeting on 23 February 2023, the Supervisory Board, having elected a Chair and a Deputy Chair, established the Audit, HR and Business Operations Committees of the Supervisory Board and appointed the membership of these Committees. At the first inaugural meeting, the Board took note of the presentation of the company's business and operations and discussed information about the operations of the Group and Luka Koper, d. d., for the year 2022.
At its meeting in April, the Supervisory Board adopted the 2022 work report and, at the same time, approved the audited Annual Report 2022 of the Group and Luka Koper d. d., and reviewed the Management Board's proposal for the use of the 2022 accumulated profit. It took note of the annual report on risk and opportunity management for 2022, the annual report on the work of the internal audit function and the Corporate Integrity and Compliance Officer for 2022 and took note of the declarations of independence of the members of the Supervisory Board.
which it submitted to the General Meeting for approval. At its June and July meetings by correspondence, the Supervisory Board decided on the new values of the Management Board's investment proposals and approved a call for tenders for the selection of new members of the Management Board and external expertise to assist in the selection process. At the same time, it adopted a competency profile for the members of the Management Board.
At its regular meeting on 24 August 2023, the Supervisory Board took note of the unaudited report on the operations of the Group and Luka Koper, d. d., in the period January-June 2023, approved the agreement on the audit of the financial statements of the Company and the Luka Koper Group for the financial years 2023, 2024 and 2025 and authorised the Chair of the Supervisory Board to sign it. It approved the Corruption Prevention Policy, agreed to the proposal on the purchase of treasury bills, to the dividend policy and internal audit operations, took note of the activities of implementing the management system for the prevention of corruption in accordance with ISO 37001 - 2016 and considered the report under Article 60 of the Slovenian Sovereign Holding Act in relation to transactions with related parties of a member of the Supervisory Board. It discussed the sponsorship and donations strategy and took note of the SSH's annual management plan and expectations. It also considered the draft Business Plan of the Company and the Luka Koper Group for 2024 and the draft Strategic Business Plan for the period 2024-2028 and made recommendations to the Management Board.
At its first November meeting on 23 November 2023, the Supervisory Board took note of the unaudited report on operations for the period January-September 2023, considered and approved the proposed financial calendar for 2024 and agreed to the Business Plan of Luka Koper, d. d., and the Luka Koper Group for 2024. It also considered and agreed on the Internal Audit work plan for 2024 and the Management Board's proposal to increase the sponsorship and donation funds of Luka Koper, d. d., in 2023. It considered and approved management's proposals to increase the value and include new investments in the 2023 investment plan.
At its second November meeting on 30 November 2023, the Supervisory Board, following a proposal by the HR Committee to select from a number of candidates, appointed Gregor Belič and Gorazd Jamnik as new members of the Management Board for a term of office of 5 years, commencing on 1 January 2024. On the proposal of the Management Board, it approved the Strategic Business Plan of Luka Koper, d. d., and the Luka Koper Group for the period 2024-2028 and gave its consent to the Management Board for the recapitalisation of the subsidiary Adria Terminali, d. o. o., and the acquisition of Adria Investicije, d. o. o.
At its last regular meeting of 2023 on 18 December 2023, the Supervisory Board approved the change in criteria for allocating costs, revenues, assets and liabilities for the implementation of the public utility service, agreed on a set of identified impacts and material topics for reporting in the 2023 Sustainability Report, and approved the criteria for the remuneration of the Head of Internal Audit for 2024. It took note of the report on the progress of the company's key investment projects and adopted the work programmes for the meetings of the Supervisory Board and its Committees. At its last correspondence meeting, the Supervisory Board approved the draft management contracts with the two newly appointed members of the Management Board.
In addition, the Supervisory Board regularly monitored the measures to achieve the planned profit for 2023, proposed to the Management Board a review of the business plan and the strategic business plan, which it approved, and carried out a number of other tasks, including:
The Supervisory Board paid attention to the timely and effective identification, disclosure, management and elimination of conflicts of interest. The Members of the Supervisory Board received ongoing training and followed examples of good practice in corporate governance. The Supervisory Board did not discuss the Report of the Works Council on the situation regarding worker participation in the management, since the 2023 report had not been submitted for discussion by the Works Council. The Supervisory Board adopted 159 decisions, 96 percent of which were unanimous.
In accordance with the Rules of Procedure of the Supervisory Board, the Audit Committee, by carrying out the tasks of its work programme, enhances the effectiveness of the Supervisory Board and regularly reports to the Supervisory Board on the supervision of financial reporting, internal controls and risk management, and on its cooperation with external and internal auditors and Corporate Integrity and Operations Compliance Officer, and proposes relevant decisions to be adopted. In the corporate governance process, it is the key role of the Audit Committee to act for the benefit of the Company and protect the interests of its stakeholders.
In 2023, until 6 February 2023, the Audit Committee was composed of:
The committee met in two sessions. It discussed the proposal for the Supervisory Board regarding the appointment of an external auditor of the financial statements of the company Luka Koper, d. d., and the Luka Koper Group for the period 2023-2025, and proposed to the Supervisory Board to propose BDO Revizija, d. o. o., to the General Meeting of the Company for appointment. It considered the proposal for new criteria, which it submitted to the Supervisory Board for approval, and took note of the reports on the internal audit engagements carried out, verified the declaration of independence of the internal audit function and assessed its performance.
With the appointment of new members of the Supervisory Board and the constitution of the Audit Committee at the 1st inaugural meeting of the Supervisory Board, the Committee was, as of 23 February 2023, composed of:
The Audit Committee met at seven regular and two meetings by correspondence. Within the scope of its competences and mandates, the Committee monitored the financial reporting process, discussed various materials and reports of the Management Board, and reported regularly to the Supervisory Board on its conclusions, findings and proposals. In accordance with the guidelines for ensuring the independence of the external auditor, the Audit Committee supervised the contracts concluded with audit firms as well as the nature and extent of their services.
The Committee discussed the audited annual report of the Luka Koper Group and Company for 2023, with particular emphasis on the presentation of revenue, formation of provisions for potential legal actions, liabilities from the concession contract, non-financial reporting, and corporate sustainability. It communicated actively with the auditor both regarding the areas and course of the audit as well as the related findings, and at the same time monitored their independence and the quality of the work performed. It discussed the report for the Audit Committee and the auditor's letter to management, as well as the management's response.
Following the appointment of the auditor at the 37th Annual General Meeting, the Audit Committee carefully examined the audit plan for 2023 and considered the Contract for the audit of the financial statements of Luka Koper, d. d., for the financial years 2023, 2024 and 2025 and proposed to the Supervisory Board to approve it. In 2023, the Audit Committee also closely monitored the risk management system with special emphasis on cybersecurity risks and real rights relations with the Republic of Slovenia under the concession agreement. It discussed the Corruption Prevention Policy, which it proposed to the Supervisory Board for approval, monitored the operations of the internal audit and internal control department, compliance of operations, corporate integrity and conflict of interests, and made recommendations for strengthening and upgrading of systems. It considered reports on customers and suppliers, making recommendations on due diligence and compliance in dealing with them, pending legal proceedings, the operation of IT systems and other management reports, which it scrutinised and monitored for integrity.
The Committee also proposed amendments as well as immediate and appropriate measures for areas where potential gaps were detected. It followed the idea of a transparent, ethical and socially responsible model of the Company's operations and management of potential conflicts of interest and a clear regulation of the Company's cooperation with all stakeholders. Prior to submitting the proposal for the remuneration of the head of internal audit to the Supervisory Board for discussion, the Audit Committee examined thoroughly her remuneration and work, and was extremely vigilant as to the respect for the autonomy and personal integrity.
At the end of the year, it adopted a work programme and started the process of evaluating its performance, on the basis of which it will adopt a plan to implement further improvements in the areas of its work where it considers itself able to make further improvements. During the year, the members of the Audit Committee attended several trainings concerning the work of audit committees.
Pergar, Božidar Godnjavec, and Mehrudin Vuković. The Committee held two meetings and discussed a report on pending legal proceedings and the model for the provision of port services at Luka Koper, d. d., examined and proposed to the Supervisory Board for approval the remuneration of the Management Board and the Secretary of the Supervisory Board for 2022, and proposed to the Supervisory Board to give its consent to the recruitment of a member of the Supervisory Board - employee representative - as a professional trade union representative in the company.
With the appointment of the new members of the Supervisory Board and the formation of the HR Committee at the 1st inaugural meeting of the Supervisory Board, the Committee continued to function in 2023 as of 23 February 2023 in the following composition: Tomaž Benčina (Chair), Jožef Petrovič (member), Boštjan Rader (member), Mehrudin Vuković (member). The Committee met at five regular meetings and one meeting by correspondence. It considered Management Board reports on recruitments of senior management and management consultants, monitored the implementation of the succession programme, formulated and proposed the adoption of the Remuneration Policy and the criteria for remunerating the Management Board, and, with external expert support, prepared a public call for applications for new members of the Management Board. After reviewing, verifying and analysing the candidacies, it prepared a shortlist of candidates for new board members, which it forwarded to the Supervisory Board for consideration and appointment.
In 2023, until 6 February 2023, the Business Operations Committee was composed of Božidar Godnjavec (Chair), Nevenka Črešnar Pergar (Deputy Chair), and members Tomaž Benčina and Mladen Jovičić. The Committee held two meetings and discussed the Management Board’s proposals to include new investments in the 2023 Investment Plan and a proposal for the exchange of land in the immediate vicinity of the port.
At its 1st inaugural meeting on 23 February 2023, the Supervisory Board appointed Jožef Petrovič (Chair), Tomaž Benčina (member), Borut Škabar (member) and Mladen Jovičić (member) as members of the Business Operations Committee.
The Committee met at four regular meetings. It participated in the development of the 2024 Business Plan and the Strategic Business Plan of Luka Koper, d. d., and the Luka Koper Group for the period 2024-2028, which it proposed to the Supervisory Board for approval at the end of the year. It monitored the implementation of the investment plan, regular and long-term upkeep, took notice of various studies of economic viability of investments and regularly monitored the business objectives of the company as well as subsidiaries.
The Strategic Development Committee, composed of Nevenka Črešnar Pergar (Chair), Andrej Koprivec (Deputy Chair), Tomaž Benčina (member), Mladen Jovičić (member) and Rok Parovel (member), did not meet until 6 February 2023. The Supervisory Board in its new composition transferred its tasks to the Business Operations Committee.
| Meeting No | Date of the meeting | Absent members |
|---|---|---|
| 15th ordinary meeting | 24 January 2023 | / |
| 16th ordinary meeting | 2 February 2023 | / |
| 1st inaugural meeting | 23 February 2023 | / |
| 2nd ordinary meeting | 13 April 2023 |
Borut Škabar
15 November 2023
Mehrudin Vuković
18 December 2023
5 July 2023
24 January 2023
2 February 2023
27 March 2023
18 May 2023
14 June 2023
24 August 2023
23 November 2023
24 January 2023
| 2 February 2023 | 1st inaugural meeting |
|---|---|
| 16 March 2023 | 2nd ordinary meeting |
| 23 March 2023 | 3rd ordinary meeting |
| 13 April 2023 | 4th ordinary meeting |
| 15 May 2023 | 5th ordinary meeting |
| 22 August 2023 | 6th ordinary meeting |
| 16 November 2023 | 7th ordinary meeting |
| 18 December 2023 | 1st meeting by correspondence |
| 28 June 2023 | 2nd meeting by correspondence |
| 20 September 2023 |
The Supervisory Board operated effectively and constantly monitored all key areas of operations. Due to good individual preparation and high motivation of all members, its contribution was significant. Support for the Supervisory Board is very good, both regarding the functioning of the Supervisory Board Committees and the Secretary of the Supervisory Board.
Committees were devising decisions to be adopted by the Supervisory Board; all members of the Supervisory Board participated in the discussions actively and exchanged opinions effectively. All members of the Supervisory Board signed statements on their independence and declared themselves independent.
Payments to individual members of the Supervisory Board and to members of committees of the Supervisory Board, and other receipts and operating costs based on the General Meeting decision No 4 of 29 December 2017 are presented in more detail in the accounting report, Note 31 ‘Related party transactions’. In 2023, education costs for the members of the Supervisory Board totalled EUR 1,674.
The 2023 Annual Report of the Luka Koper Company and Group was audited by the audit company BDO Revizija, d. o. o., which issued an opinion on the financial statements. At its 10 regular meeting of 17 April 2024, the Audit Committee of the Supervisory Board established that the Annual report was prepared in a timely manner, and is compiled clearly, transparently and in accordance with the provisions of the Companies Act, the applicable International Financial Reporting Standards as adopted by the EU and other relevant legislation. The Audit Committee had no objections to the 2023 Annual report of the Luka Koper Company and the Group and thus proposed to the Supervisory Board that they approve it in compliance with Article 282 of the Companies Act.
Based on the auditor's opinion, the position of the Supervisory Board's Audit Committee, and data and disclosures in the 2023 Annual Report, the Supervisory Board estimates that the auditor performed their work independently and professionally, in accordance with applicable legislation and business practice, that the Annual Report is prepared in accordance with the requirements of the Companies Act in all material respects, and that the financial statements in all material respects fairly represent the financial position of the Luka Koper Company and the Group as at 31 December 2023 and their profit and loss and cash flows for the year ended in accordance with International Financial Reporting Standards as adopted by the EU. The Supervisory Board had no objections to the auditor’s report. In addition, the Supervisory Board has no objections to the 2023 Annual Report of the Luka Koper Company and the Group, which would in any way delay it in reaching a decision approving it. Therefore, in accordance with Article 282 (3) of the Companies Act, the Supervisory Board approved the 2023 Annual Report of the Company and the Luka Koper Group at its 9. meeting on 18 April 2024.
At the time of adoption of the annual report, the Supervisory Board also took a stand on the Corporate Governance Statement and on compliance with the reference code, which is included in the business report of the 2023 Annual Report of Luka Koper, d. d., and the Luka Koper Group, and established that it reflects the actual corporate governance of Luka Koper, d. d., and Luka Koper Group in 2023.
Mirko Bandelj
Chair of the Supervisory Board of Luka Koper, d. d.
In line with the provision of Article 70 (5) of the Companies Act, Luka Koper, d. d., issues the following Corporate Governance Statement relating to the period from 1 January 2023 to 31 December 2023.
In the period from 1 January to 31 December 2023, the company observed the Slovenian Corporate Governance Code for Listed Companies of December 2021, which was drawn and adopted jointly by the Ljubljana Stock Exchange (Ljubljanska borza, d. d.), Ljubljana, and the Slovenian Directors’ Association, and put into force on 1 January 2022. The Code is available on the Ljubljana Stock Exchange's website "Ljubljana Stock Exchange Rules and Regulations (ljse.si).
In the period from 1 January to 31 December 2023, the company also observed The Corporate Governance Code for State-Owned Enterprises (adopted in June 2022) which is available on the Slovenian Sovereign Holding (SDH) website Key SSH Asset Management Documents.
The Company has adopted the Corporate Governance Policy of Luka Koper, d. d., on 21 January 2022, whereby management is carried out in accordance with the provisions of the Companies Act and the aforementioned codes.
Corporate Integrity Officer and the Corporate Integrity Violations Committee of the Luka Koper Group, and Rules of Procedure for the Operations Compliance Officer, on 11 July 2022 it adopted Code of Conduct for business partners of the Luka Koper Group, and on 24 August 2023, also the Corruption Prevention Policy.
In governance, the Company observes the provisions of applicable codes. Any derogation is stated and/or explained below.
Corporate integrity is reported in detail in Chapter 27 Corporate integrity and operations compliance, protection of personal data and human rights.
Risk is reported in detail in Chapter 14 Managing risks and opportunities.
The Luka Koper Group manages risk related to financial reporting and the implementation of adopted guidelines and internal control procedures. The purpose of internal controls is to ensure the accuracy, reliability and completeness of acquiring data on transactions and preparation of financial statements that give a true and fair view of the financial position, profit or loss, cash flows and changes in equity in accordance with the applicable laws, International Accounting Standards and other external and internal regulations. Risk management related to the Group’s consolidated financial statements has also been provided through a centralised accounting function in a uniform IT system in the controlling company, which includes all the subsidiaries and the majority of associated companies.
Having been designed in accordance with the principle of reality and division of responsibility, the accounting controls focus on the control of accuracy and completeness of data processing, reconciliation of the balance presented in the books of account and the actual balance, separation of records from conducting transactions, professionalism of accountants and independence. Internal controls in accounting are also related to controls in the field of IT that ensure limitations and supervision over the access to the network, data and applications as well as the accuracy and completeness of data acquisition and processing.
The Company shares are ordinary no-par value shares that grant to their holders the right to participate in the company management, the right to profit sharing – dividend payments, and the right to a proportionate amount of remaining assets after winding up or bankruptcy of the company. All the shares are registered shares, of one class and issued in book-entry form. The Company shares are freely transferable and listed on the Ljubljana Stock Exchange, first listing. Detailed data about the share and ownership structure is presented in Chapter 15 ‘The LKPG Share’.
All Company shares are freely transferable.
Pursuant to Article 77 (1) of the Takeovers Act, achievement of the qualified share on 31 December 2023 was as follows:
The company issued no securities that would grant special control rights.
The company has no employee share scheme.
There is no limitation of voting rights.
The company has not been informed of any such agreements.
The Supervisory Board has the right and competence to dismiss the entire Management Board or an individual Member of the Management Board. The Supervisory Board can dismiss the President of the Management Board, Members of the Management Board and the Worker Director early for the reasons set out in the law. The quorum of the Supervisory Board when appointing or dismissing the President of the Management Board, a Member of the Management Board or the Worker Director requires the presence of at least half of the Members of the Supervisory Board and at least half of the present Supervisory Board Members have to be representatives of the capital, of which the Chair of the Supervisory Board and deputy Chair of the Supervisory Board are to be present as well.
The President and Members of the Management Board shall have at least university education, a thorough knowledge of one world language, and at least five years of work experience in decision-making positions in large companies in accordance with the criteria as defined by the law governing companies. More detailed conditions and criteria for the President and Members of the Management Board are determined by the Supervisory Board. The terms of appointment of the Worker Director are jointly determined by the Supervisory Board and the Works Council.
The HR Committee operates under the Supervisory Board, carrying out preliminary procedures relating to the selection of candidates for the Management Board of the company and proposing the most suitable candidates for the Management Board Members to the Supervisory Board. Before submitting the proposal, the Committee verifies whether the candidates suggested meet the legal and statutory criteria for the Members of the Management Board.
The Supervisory Board of the company consists of nine members, of which six are elected by the General Meeting by a simple majority of the shareholders present and three members are elected by the Works Council. One of six Supervisory Board members can be proposed to the General Meeting by the municipality or municipalities in which the onshore part of the port area is located. The General Meeting establishes with a decision the election and discharge of the members of the Supervisory Board elected by the Works Council. The decision on an early discharge of Members of the Supervisory Board has to be taken by a three-quarters majority of the votes submitted in the General Meeting. Members of the Supervisory Board elected out of the employees can be discharged before the expiry of their term of office by the Works Council. The General Meeting only establishes their discharge with a decision. After expiry of their term of office, each elected Member of the Supervisory Board may be proposed and re-appointed as a Member of the Supervisory Board.
The Management and the Supervisory Boards formulated and adopted a diversity policy with respect to representation in management and control bodies of the company as defined by the Companies Act and the Slovenian Corporate Governance Code for Listed Companies. The Company has thus partly pursued the objective of diversity with respect to representation in management and control bodies. In 2023, the Supervisory Board adopted a competency profile for the members of the Management Board.
The General Meeting of Shareholders decides on the changes in the articles of association with a three-quarters majority of the initial capital represented.
Powers of Members of the Management Board are defined in Chapter 4.6 Company Management of Luka Koper, d. d. Otherwise, the Management Board has no special powers relating to the issue or purchase of own shares.
The company has not been informed of any such agreements.
There have been no agreements in accordance with the Takeovers Act.
Companies Act, the Company’s articles of association, and the Rules of Procedure on the Work of the Supervisory Board, the Management Board and the General Meeting of Shareholders.
Significant impacts on the Company's business in terms of negative impacts on stakeholders are communicated to the Management Board and the Supervisory Board through the submission and consideration of regular reports: quarterly reports, annual report, risk management reports, reports of violations of corporate integrity, compliance reports, occupational health and safety reports, environmental reports, fire safety reports, etc.
Conflicts of interest regarding cross-membership, cross-ownership and the existence of controlling shareholders are disclosed to stakeholders. Details of related party transactions are presented in the consolidated financial statements in Note 31 ‘Related party transactions’.
Specific provisions on the operation of the Management Board are also stated in other general acts on internal company regulation. The Company’s articles of association are available at https://luka-kp.si/eng/corporate-documents.
Leadership continuity was identified as a significant impact in 2023 by both the Luka Koper Group and stakeholders. Ensuring leadership continuity is an important aspect of the effectiveness of the Management Board and Supervisory Board of Luka Koper, d. d. Accordingly, the decision-making bodies must ensure that the entire membership or the majority of the membership of these bodies is not replaced within a very short period of time, as this can have a significant impact on the effectiveness/ineffectiveness of their work. The company follows this.
The terms of office of the members of the Management Board and the Supervisory Board in the positions to which they are appointed do not expire at the same period of time, but at different dates (as shown in Table C1), thus ensuring leadership and control continuity.
The General Meeting of Shareholders is the highest body of the Company, deciding on its status changes, appropriation of the profit, the appointment or discharge of Members of the Supervisory Board and all other issues. It makes decisions in accordance with the Companies Act (ZGD-1) and the Articles of Association of Luka Koper, d. d. The ownership structure of Luka Koper, d. d., is presented in Chapter 15 ‘The LKPG Share’.
The Management Board shall convene the General Meeting of Shareholders once a year as a general rule, or several times, if necessary. The convening of the General Meeting of Shareholders is announced at least one month in advance on the AJPES website, in the SEO-net electronic system of the Ljubljana Stock Exchange, and on the Company’s website. The Company’s website https://luka-kp.si/eng/general-assembly includes all the material with the proposals for decisions, which is also made available to shareholders at the Company’s head office. In compliance with the rules of the Ljubljana Stock Exchange, all decisions taken at the General Meeting of Shareholders are also published.
Shareholders may take part in the General Meeting and exercise their voting right if their presence is reported to the Management Board by the end of the fourth day prior to the General Meeting and if shares or a share certificate are submitted for inspection.
The company has no limitations relating to the voting rights, as all shares of Luka Koper, d. d., provide voting rights in line with the legislation.
Luka Koper, d. d., has issued no securities that would grant their holders any special control rights.
Shareholders of Luka Koper, d. d., held two General Meetings in 2023. On 6 February 2023, the 36th General Meeting of the Company was held for the election of new members of the Supervisory Board, at which the shareholders:
The 37th Annual General Meeting of the Company was held on 28 June 2023, at which shareholders:
amounted to EUR 50,229,863.96:
The residual amount of accumulated profit in the amount of EUR 15,229,863.96 is to remain unappropriated;
Granted discharge for the year 2022 to the Management Board and Members of the Supervisory Board;
The Supervisory Board oversees the running of the Company’s business. Other tasks and powers of the Board, in accordance with the law and the Company’s articles of association, mainly include: appointing and dismissing the Management Board, determining the amount of Management Board’s remuneration, approving the annual report, preparing proposals for the appropriation of the accumulated profit, and convening the General Meeting of Shareholders.
The Company has adopted a competency profile for the members of the Supervisory Board (Competency Profile of the Supervisory Board), which is published on the Company‘s website Corporate Documents - Luka Koper d.d. (luka-kp.si).
The Supervisory Board of Luka Koper, d. d., consists of nine members. Six are elected by the General Meeting of Shareholders, and three from among employees by the Works Council. The Board members’ term of office is four years.
31 Dec 2023
| Men | Women | TOTAL | |
|---|---|---|---|
| Number of members | 8 | 1 | 9 |
| Share | 89% | 11% | 100% |
31 Dec 2023
| Under 30 | 30 to 50 | Over 50 | TOTAL | |
|---|---|---|---|---|
| Number of members | 0 | 2 | 7 | 9 |
| Share | 0% | 22% | 78% | 100% |
10 GRI 2-9, 2-10, 3-3, 405-1
| Mirko Bandelj, Chair of the Supervisory Board | Beginning of a 4-year term of office: 7 February 2023 (36th General Meeting) | Employed: Odvetniška pisarna Mirko Bandelj, d. o. o. | Membership in other management or supervisory bodies: / |
|---|---|---|---|
| Tomaž Benčina, Deputy Chair of the Supervisory Board | Beginning of a 4-year term of office: 7 June 2022 (35th General Meeting) | Employed: Regional Chamber of Commerce of Celje | Membership in other supervisory or management bodies: Zavarovalnica Triglav, d. d., Member of the Supervisory Board |
| Boštjan Rader, Member of the Supervisory Board | Beginning of a 4-year term of office: 7 February 2023 (36th General Meeting) | Employed: SDH, d. d. | Membership in other management or supervisory bodies: Deputy Chair of the Supervisory Board of the Public Company Uradni list Republike Slovenije, d. o. o. |
| Jožef Petrovič, Member of the Supervisory Board | Beginning of a 4-year term of office: 7 February 2023 (36th General Meeting) | Employed: retired | Membership in other supervisory or management bodies: Pošta Slovenije, d. o. o., Member of the Supervisory Board |
| Barbara Nose, Member of the Supervisory Board | Beginning of a 4-year term of office: 7 February 2023 (36th General Meeting) | Employed: Constantia Primia, d. o. o., Managing Partner | Membership in other supervisory or management bodies: Pošta Slovenije, d. o. o., Member of the Supervisory Board, AMZS, d. d., Deputy Chair of the Supervisory Board, Barnos, d. o. o., Managing Director, Shramba, d. o. o., Managing Director |
| Borut Škabar, Member of the Supervisory Board | Beginning of a 4-year term of office: 7 February 2023 (36th General Meeting) | Employed: BLUEMARINE, d. o. o., Managing Director | Membership in other management or supervisory bodies: BLUESHIP Ltd Istanbul, Managing Director |
| Mehrudin Vuković, Member of the Supervisory Board | Beginning of a 4-year term of office: 19 January 2020 (33rd General Meeting – informing the shareholders) |
|---|---|
| Rok Parovel, Member of the Supervisory Board | Beginning of a 4-year term of office: 13 September 2020 (34th General Meeting – informing the shareholders) |
| Mladen Jovičić, Member of the Supervisory Board | Beginning of a 4-year term of office: 8 April 2021 (34th General Meeting – informing the shareholders) |
Appointed for the period from 23 February 2023 until revoked. Membership in other management or supervisory bodies: NLB Banka AD Skopje, independent member of the Supervisory Board, NLB Banka Prishtina, non-executive independent member of the Management Board.
In 2023, until 6 February 2023, the Audit Committee of the Supervisory Board was composed of Andrej Koprivec (Chair), Božidar Godnjavec (member and Deputy Chair), Nevenka Črešnar Pergar (member), Rok Parovel (member), and Simon Kolenc (external member).
As of 23 February 2023, the Committee is composed of Barbara Nose (Chair), Boštjan Rader (member), Rok Parovel (member) and Mateja Treven (external member).
In 2023, until 6 February 2023, the HR Committee consisted of Franci Matoz (Chair), Nevenka Črešnar Pergar (member), Božidar Godnjavec (member), Mehrudin Vuković (member).
As of 23 February 2023, the Committee is composed of Tomaž Benčina (Chair), Jožef Petrovič (member), Boštjan Rader (member) and Mehrudin Vuković (member).
In 2023, until 6 February 2023, the Business Operations Committee was composed of Božidar Godnjavec (Chair), Nevenka Črešnar Pergar (Deputy Chair), Tomaž Benčina (member) and Mladen Jovičić (member).
As of 23 February 2023, the Committee is composed of Jožef Petrovič (Chair), Tomaž Benčina (member), Borut Škabar (member) and Mladen Jovičić (member).
Until 6 February 2023, the Strategic Development Committee, which never met in 2023, was composed of Nevenka Črešnar Pergar (Chair), Andrej Koprivec (Deputy Chair), Tomaž Benčina (member), Rok Parovel (member), and Mladen Jovičić (member).
As the Supervisory Board did not appoint a Nomination Committee, this task was performed by the HR Committee of the Supervisory Board.
All details pertaining to members of the Supervisory Board and its composition and the composition of the committees of the Supervisory Board are listed in the tables prepared in accordance with Annexes C.2 of the Slovene Corporate Governance Code for Listed Companies and 3.2 of the Corporate Governance Code for State-Owned Enterprises, entitled ‘Composition of the Supervisory Board and Committees in the financial year 2023’, which are an integral part of this Corporate Governance Statement.
The work of the Supervisory Board is governed by statutory regulations, Company’s articles of association and the Rules of Procedure on the Work of the Supervisory Board, the Slovenian Corporate Governance Code for Listed Companies, Corporate Governance Code for State-Owned Enterprises, Recommendations and expectation of the Slovenian Sovereign Holding and Recommendations of the Slovenian Directors’ Association.
The Supervisory Board closed the year 2023 with the composition described in item 2.5.2 The composition of the Supervisory Board of Luka Koper, d. d., as at the last day of 2023, with Franci Matoz (Chair), Nevenka Črešnar Pergar (Deputy Chair), Božidar Godnjavec (member), Andrej Koprivec (member), Tomaž Benčina (member), Mladen Jovičić (member), Rok Parovel (member), Mehrudin Vuković (member) until 6 February 2023.
At the 36th General Meeting on 6 February 2023, the following new members of the Supervisory Board were appointed for a term of office of 4 years, commencing on 7 February 2023: Mirko Bandelj, Barbara Nose, Jožef Petrovič, Boštjan Rader and Borut Škabar; therefore the Supervisory Board was composed of Mirko Bandelj (Chair), Tomaž Benčina (Deputy Chair), Jožef Petrovič (member), Barbara Nose (member), Boštjan Rader (member), Borut Škabar (member), Mladen Jovičić (member), Rok Parovel (member) and Mehrudin Vuković (member).
Work, decisions, and viewpoints of the Supervisory Board and the Committees of the Supervisory Board are reported in detail in Chapter 3 ‘Report on the Supervisory Board for 2023’.
2023 stating that in the year 2023, there was no conflict of interest that would imply that an individual member:
These declarations are also available at https://luka-kp.si/slo/pomembni-dokumenti-208, and reviewed by a statutory auditor.
Conflicts of interest between Supervisory Board members are regulated in the Rules of Procedure of the Supervisory Board and in relevant codes. In addition, members of the Supervisory Board are required to complete a declaration of independence and IAS 24, indicating related parties and other functions. According to the Rules of Procedure, in the event of a conflict of interest, they are obliged to immediately inform the Chair and members of the Supervisory Board in writing and to take appropriate measures. Conflicts of interest regarding cross-membership, cross-ownership and the existence of controlling shareholders are disclosed to stakeholders. Details of related party transactions are presented in the consolidated financial statements in Note 31 ‘Related party transactions’.
Three committees work on a regular basis under the Supervisory Board:
The committees carry out professional tasks in aid to the Supervisory Board.
The composition of the Audit Committee in 2023 is shown in item 4.5.3 ‘Changes in the composition of the Audit Committee of the Supervisory Board’.
The composition of the HR Committee in 2023 is shown in item 4.5.4 ‘Changes in the composition of the HR Committee of the Supervisory Board’.
The composition of the Business Operations Committee in 2023 is shown in item 4.5.5 ‘Changes in the composition of the Business Operations Committee of the Supervisory Board’.
The Data on the ownership of shares of Members of the Supervisory Board and its committees is given in Chapter 15 ‘The LKPG Share’.
The work of the Management Board is governed by statutory regulations, the Company’s articles of association and the Rules of Procedure on the Work of the Management Board, the Slovenian Corporate Governance Code for Listed Companies, the Corporate Governance Code for State-Owned Enterprises, and Recommendations and Expectations of the Slovenian Sovereign Holding. Pursuant to the Companies Act and the Company’s articles of association, the Management Board manages and represents the company.
At its meeting on 18 May 2023, the Supervisory Board of the company Luka Koper, d. d., took note of the agreement on the early termination of the term and the employment relationship concluded by the company and the President of the Management Board, Boštjan Napast, and based on such agreement adopted the decision on the early termination of the term the president of the board. Boštjan Napast held the position of President of the Management Board until 30 June 2023 inclusive.
As at 31 December 2023, the Management Board of Luka Koper, d. d., consisted of:
The President of the Management Board in the company Luka Koper, d. d., does not perform any other functions in the organisation.
As at 1 January 2024, the Management Board of Luka Koper, d. d., consisted of:
President of the Management Board
as a Certified Business Valuer and Certified Auditor from the Slovenian Institute of Auditors. Nevenka Kržan was appointed by the Company’s Supervisory Board as a member of the Management Board for a five-year term of office starting on 1 July 2022. She took office as President of the Management Board on 1 July 2023.
Member of the Management Board
Gregor Belič holds a master's degree in marine engineering and is a master mariner. He started his career at Splošna Plovba Portorož, where he commanded bulk and general cargo ships and container ships during his fifteen-year career. In 2003, he joined Transeuropa Shipping lines as a master on Ro-Ro passenger ships. During this period, he passed his pilot's test at the ports of Ostende, Belgium and Ramsgate, United Kingdom and was involved in the management of the terminals there in his role as HR Director. In 2007, he joined Luka Koper, d. d., as a consultant for relations with shipowners, and a year later he took over the management of the car and Ro-Ro terminal, as well as Avtoservis Koper, which he still manages today. During his long career, in addition to his managerial and organisational competences, he has gained experience in various areas of port systems operations, process optimisation, terminal development planning and cargo handling, and has been actively involved in the establishment and improvement of the ISPS code for ships, upgrading of security protocols and other key ship systems.
Member of the Management Board
Gorazd Jamnik holds a master’s degree in management and organisation, majoring in finance. He started his career at Luka Koper, d. d., where he worked intermittently for nine years, managing the finance and accounting area. He has more than twenty years of experience in financial management, controlling and accounting in various corporations and industries such as logistics, white goods manufacturing and sales, energy, and insurance. He has gained international experience in all the countries of the former Yugoslavia, as well as in the Netherlands, Czechia, Slovakia, and Hungary. At Luka Koper, d. d., and other companies, he participated actively and in a leading role in projects of financing and implementation of investments, refinancing, restructuring projects, as well as in the formulation of strategies, business plans and due diligence.
Worker Director
also international trade until 2003. He gained a wealth of experience with respect to the port as a transit point channelling international trade flows. His insight into the general economic environment and the subjects operating within it paved him the way to various positions in the field of media and communications, where he worked as editor, journalist, correspondent, photo-reporter and web reporter for several Slovenian media. For four years, he was in charge of public relations and marketing in the Marjetica Koper public corporation, while also nearing a number of areas related to the promotion of good environmental practices and cooperation with the local community. He commenced his second five-year term of office in Luka Koper, d. d., as Member of the Management Board - Worker Director on 16 February 2023.
Members of management and persons in managerial positions are required to take all measures to manage conflicts of interest at the time of taking office and at all times during their term of office, and to inform their superior authority in accordance with the adopted Conflicts of Interest Management Policy. They shall also complete a declaration on the management of conflicts of interest to the effect that there are no circumstances in which the impartial or objective performance of their duties or other functions could be compromised, or if so, what they are and what measures are in place. Conflicts of interest regarding cross-membership, cross-ownership and the existence of controlling shareholders are disclosed to stakeholders. The members of the Management Board annually supplement the statement on related parties and the possible existence of a conflict of interest, which is checked by a statutory auditor within the scope of their competence. Details of related party transactions are presented in the consolidated financial statements in Note 31 ‘Related party transactions’.
| Men | Women | TOTAL | |
|---|---|---|---|
| 31 Dec 2023 | 1 | 1 | 2 |
| Share | 50% | 50% | 100% |
| 1 Jan 2024 | 3 | 1 | 4 |
| Share | 75% | 25% | 100% |
| Under 30 | 30 to 50 | Over 50 | TOTAL | |
|---|---|---|---|---|
| 31 Dec 2023 |
| Under 30 | 30 to 50 | Over 50 | TOTAL | |
|---|---|---|---|---|
| 0 | 1 | 1 | 2 | |
| Share | 0% | 50% | 50% | 100% |
| 1 Jan 2024 |
| Under 30 | 30 to 50 | Over 50 | TOTAL | |
|---|---|---|---|---|
| 0 | 1 | 3 | 4 | |
| Share | 0% | 25% | 75% | 100% |
Presentation of Members of the Management Board is also available at https://luka-kp.si/eng/management.
All details pertaining to members of the Management Board are listed in the table entitled ‘Composition of the Management Board in the financial year 2023’, which is an integral part of this Corporate Governance Statement and was prepared in accordance with Annexes C.1 of the Slovenian Corporate Governance Code for Listed Companies and 3.1 of the Corporate Governance Code for State-Owned Enterprises.
The Management Board autonomously directs the operations of the Company in its best interests, and assumes sole responsibility for its actions. It works in accordance with regulations, the articles of association and the binding decisions of Company bodies.
Remuneration paid to Members of the Management Board consists of the fixed and variable components. They are determined in fixed-term management operation employment contracts for Members of the Management Board, in annexes to employment contracts and in decisions of the Supervisory Board. The remuneration of the Management Board is determined by the Supervisory Board in accordance with the applicable remuneration policy of the Company, which is adopted by the General Meeting and published on the website Corporate documents - Luka Koper d.d. (luka-kp.si). The remuneration of the management and supervisory bodies is audited annually by the statutory auditor. Concluded between individual Members of the Management Board and the Supervisory Board, employment contracts and annexes also specify refunds and benefits. When concluding contracts and annexes for Members of the Management Board, the Supervisory Board is represented by its Chair. The remuneration of the Management Board is reported in the Accounting Report of Luka Koper d. d., Note 31 ‘Related party transactions’, and in the table entitled ‘Composition of the management board in the financial year 2023’, which is an integral part of the Company’s Corporate Governance Statement and is taken from the Appendix 4.1 of the Corporate Governance Code for State-Owned Enterprises. The ownership of shares is reported in Chapter ‘15 The LKPG Share’.
• Achievement of corporate social responsibility and sustainable development objectives, including the Supervisory Board's assessment of the implementation of corporate culture development, employee development, organisational climate, employee training, diversity, human rights, etc.
15
GRI 2-19, 2-20
16
GRI 2-18, 2-19
39
• Implementation of internal audit recommendations, risk management measures and project implementation in 2023, including the Supervisory Board's assessment of the actual implementation of the recommendations issued.
These non-financial criteria are used to pursue business objectives in the areas of organisational effectiveness, environmental, social and governance responsibility, whereby the management's performance is assessed annually and independently by the Supervisory Board with a reasoned decision and in accordance with the criteria adopted each time, which follow the current remuneration policy.
Luka Koper, d. d., has an established corporate governance system which includes the controlling company of the Luka Koper Group and 4 subsidiaries. In addition, Luka Koper, d. d., has business shares in 11 other companies.
Objectives in the field of financial investment management were defined in the Strategic Business Plan of the Company and the Group for the period 2020-2025. A new Strategic Business Plan for the period 2024-2028 was adopted in 2023. The Investment Management Strategy, valid for 2023, divided finance investments into two investment grades with respect to four key areas (integration in operations, maximisation of flexibility and minimisation of risk, financial aspect and other externalities):
With the adoption of the Investment Management Strategy, guidelines for the decision-making and managing aspects of management of strategic investments were also set. The dividend policy follows the classification of an individual investment: when acting as a shareholder in non-strategic investments, we strive to achieve the objective of maximised profit payment, and when acting as a shareholder in strategic investments, we pursue the objective of a balanced profit payment under consideration of the investment-development company cycles.
| Company | Managing Director | Share of the controlling company in ownership (in %) |
|---|---|---|
| Luka Koper INPO, d. o. o. | Robert Krajnc | 100.00 |
| Adria Terminali, d. o. o. | Mitja Dujc | 100.00 |
| Logis-Nova, d. o. o. | Larisa Škandra | 100.00 |
| TOC, d. o. o. | Ankica Budan Hadžalič | 68.13 |
At the 37th meeting of 28 August 2023, the General Meeting of Shareholders appointed the audit firm BDO Revizija, d. o. o., družba za revidiranje, Cesta v Mestni log 1, Ljubljana for the audit of the financial statements of Luka Koper, d. d., and the Luka Koper Group for the business years 2023, 2024 and 2025.
The costs of audit services performed for Luka Koper, d. d., and its subsidiaries are presented in the consolidated accounting report, Note 33 ‘Transactions with the audit firm’.
Nevenka Kržan
President of the Management Board of Luka Koper, d. d.
Gregor Belič
Member of the Management Board of Luka Koper, d. d.
Gorazd Jamnik
Member of the Management Board of Luka Koper, d. d.
Vojko Rotar
Member of the Luka Koper, d. d. Management Board - Worker Director
| Name and surname | Function (Chair, Member) | First appointment to office | End of office / term of | Gender | Citizenship | Year of birth | Education | Professional profile | Membership in management or supervisory bodies |
|---|---|---|---|---|---|---|---|---|---|
| Boštjan Napast | Chair | 03.12.2021 | 30.06.2023 | Man | Slovenian | 1971 | Level 7 University Graduate in Mechanical Engineering | Member of the Supervisory Board in Plinovod d. o. o. until 10 Jan 2023 |
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nevenka Kržan | Member | 01.07.2022 | 30.06.2023 | Woman | Slovenian | 1962 | Level 7 | University Graduate in Economics | Member of the Supervisory Board in Pokojninska družba A, d. d., since 13 Jun 2023 | ||||
| Nevenka Kržan | Chair | 01.07.2023 | ongoing | Woman | Slovenian | 1962 | Level 7 | University Graduate in Economics | Member of the Supervisory Board in Pokojninska družba A, d. d., since 13 Jun 2023 | ||||
| Vojko Rotar | Member - Worker Director | 16.02.2018 | ongoing | Man | Slovenian | 1976 | Level 6 | Graduate in Economics | no | ||||
| Chair | 07.02.2023 | ongoing | Representative of shareholders | 15/15 | Man | Slovenian | 1958 | Level 7 | University Graduate in Law | Yes | No | no |
| Name and Surname | Function (Chair, Deputy, SB Member) | First Appointment to Office | End of Office / Term of Office | Representative of Shareholders / Employees | Attendance at SB Meetings Proportional to the Total Number of SB Meetings | Gender | Citizenship | Year of Birth | Education | Professional Profile | Independence under Article 23 of the Code (YES / NO) | Existence of Conflicts of Interest in the Financial Year (YES / NO) | Membership in Management or Supervisory Bodies of Other Companies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Member, Deputy Chair | since 21 Feb 2023 | 07.06.2022 | ongoing | Representative of shareholders | 19/19 | Man | Slovenian | 1965 | Level 7 | B. Eng. in Metallurgical Technologies; University Graduate in Economics | Yes | No | Member of the Supervisory Board of Zavarovalnica Triglav d. d. |
Mirko Bandelj
Committee member
/
Committee member
BUSINESS OPERATIONS COMMITTEE / STRATEGIC DEVELOPMENT COMMITTEE until 6 Feb 2023
Tomaž Benčina
since 21 Feb 2023 HR COMMITTEE / BUSINESS OPERATIONS COMMITTEE
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | Completion of function / mandate | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Member | 07.02.2023 | ongoing | Representative of shareholders | 15/15 | Woman | Slovenian | 1964 | Level 7 | University Graduate in Economics, Auditing specialist | Yes | Yes/Pošta Slovenije, d. o. o. | Member of the |
| CHAIR | 9/9 |
|---|---|
| First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Member | 07.02.2023 | ongoing | Representative of shareholders | 15/15 | Man | Slovenian | 1958 | Level 7 University Graduate in Economics | Yes | Yes/Pošta Slovenije, d. o. o. | Member of the Supervisory Board of Pošta Slovenije, d. o. o. |
| CHAIR/MEMBER | 5/5, 8/8 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
| Member | 07.02.2023 | ongoing | Representative of shareholders | 14/15 | Man | Slovenian | 1978 | Level 7 | University Graduate in Economics; MBA | Yes | No | Deputy Chairwoman of the Supervisory Board of the Public Company Uradni list Republike Slovenije, d. o. o. |
| Member | Function (Chair, Deputy, SB Member) | First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Barbara Nose | Committee member | 07.02.2023 | ongoing | Representative of shareholders | 18/19 | Man | Slovenian | 1972 | Level 7 Graduate in History | Yes | Yes | Conbulk, d. o. o., Bluemarine, d. o. o. | |
| Jožef Petrovič | Committee member | ||||||||||||
| Boštjan Rader | Committee member |
| Member / Member | Attendance at committee meetings proportional to the total number of committee meetings | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
| Chair | 02.07.2021 | 06.02.2023 | Representative of shareholders | 4/4 | Man | Slovenian | 1963 | Level 7 University Graduate in Law | Y | es | No | Deputy Chair of the Supervisory Board of Slovenske železnice, d. o. o. until 14 February 2023 |
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Deputy Chair | 02.07.2021 | 06.02.2023 | Representative of shareholders | 4/4 | Woman | Slovenian | 1962 | Level 7 University Graduate in Law | Y | es | No | no |
| MEMBER/MEMBER/DEPUTY CHAIR/CHAIR | Attendance |
|---|---|
| 2/2, 2/2, 2/2, 0/0 | Franci Matoz |
| Committee member | HR COMMITTEE |
| Nevenka Črešnar Pergar | Committee member |
| HR COMMITTEE, AUDIT COMMITTEE, BUSINESS OPERATIONS COMMITTEE, STRATEGIC DEVELOPMENT COMMITTEE |
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | End of office / term of office | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Borut Škabar | Member | 02.07.2021 | 06.02.2023 | Representative of shareholders | 4/4 | Man | Slovenian | 1980 | Level 7 University Graduate in Economics | Yes | No | no |
| CHAIR/DEPUTY CHAIR | Attendance |
|---|---|
| Chair | 2/2 |
| Deputy Chair | 0/0 |
| Attendance at SB meetings | proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) | Existence of conflicts of interest in the financial year (YES / NO) | Membership in management or supervisory bodies of other companies |
|---|---|---|---|---|---|---|---|---|---|
| 4/4 | Man | Slovenian | 1972 | Level 8 Master’s Degree in Economics | Yes | No | no |
proportional to the total number of committee meetings
| MEMBER/DEPUTY CHAIR/CHAIR | 2/2 | 2/2 | 2/2 |
|---|---|---|---|
Function (Chair, Deputy, SB Member)
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment to office | Completion of function / mandate | Representative of shareholders / employees | Attendance at SB meetings proportional to the total number of SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 of the Code (YES / NO) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mladen Jovičič | Committee member | 8.4.2009 | ongoing | Representative of employees | 19/19 | Man | Slovenian | 1969 | Level 5 Electrical technician | Y | YES |
| M.Sc Božidar Godnjavec | Committee member | 2/2 | No | ||||||||
| Andrej Koprivec | Committee member | 5/5 | No |
BUSINESS OPERATIONS COMMITTEE / STRATEGIC DEVELOPMENT COMMITTEE until 6 Feb 2023
since 21 Feb 2023 BUSINESS OPERATIONS COMMITTEE
proportional to the total number of MEMBER/MEMBER
| Membership in management or supervisory bodies of other companies | Member | First appointment | Completion of function | Representative of shareholders / Attendance at SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 | Existence of conflicts of |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 12.9.2016 | ongoing | Representative of employees | 19/19 | Man | Slovenian | 1987 | Level 6 Graduate in Economics | Y | es | No | no |
| Chair / Member | Attendance at committee meetings proportional to the total number of committee meetings | MEMBER | 2/2, 0/0 | MEMBER | 9/9, 0/0 | ||||||
| Name and surname | Function (Chair, Deputy, SB Member) | First appointment | Completion of function | Representative of shareholders / Attendance at SB meetings | Gender | Citizenship | Year of birth | Education | Professional profile | Independence under Article 23 | Existence of conflicts of |
| 19.1.2020 | ongoing | Representative of employees | 19/19 | Man | Slovenian | 1972 | Level 6/1 Logistics Engineer | Yes | No | No | |
| Chair / Member | Attendance at committee meetings proportional to the total number of committee meetings |
| Gender | Citizenship | Education | Year of birth | Professional profile | Membership in management or supervisory bodies of unrelated companies |
|---|---|---|---|---|---|
| Man | Slovenian | Level 7 | 1977 | University Graduate in Economics | no |
| Woman | Slovenian | Level 8 | 1972 | Master’s Degree in Economics | NLB Banka AD Skopje, independent member of the supervisory board, NLB Banka Prishtina, non-executive independent member of the board of directors |
| Name and surname | COMMITTEE | Role |
|---|---|---|
| Mehrudin Vuković | HR COMMITTEE | Committee member |
| Simon Kolenc | AUDIT COMMITTEE | Committee member until 6 Feb 2023 |
| Mateja Treven | AUDIT COMMITTEE | Committee member since 21 Feb 2023 |
| Rok Parovel | AUDIT COMMITTEE / STRATEGIC DEVELOPMENT COMMITTEE | Committee member until 6 Feb 2023 |
| Name | Position | Base Salary | Bonus | Other Payments | Total (2) |
|---|---|---|---|---|---|
| Vojko Rotar | Member of the Management Board - Worker Director | 190,462.80 | 12,178.55 | 40,595.16 | 271,994.24 |
| Robert Rožac | Member of the Management Board until 31 Dec 2022 | 13,967.60 | 7,110.36 | 23,701.20 | 86,132.01 |
| Boštjan Napast | President of the Management Board until 30 Jun 2023 | 122,138.48 | 8,361.51 | 27,871.71 | 272,433.14 |
| Nevenka Kržan | Member of the Management Board until 30 Jun 2023 | 109,783.52 | 3,779.50 | 12,598.34 | 135,149.87 |
| Nevenka Kržan | President of the Management Board since 1 Jul 2023 | 89,073.06 | 0.00 | 0.00 | 89,164.78 |
| Name and Surname | Function (Chair, Deputy, Member, External Member of the Committee) | Basic Pay for Holding the Office | Additional Payment for Special Tasks | Total (1) | Bonus | ||
|---|---|---|---|---|---|---|---|
| Franci Matoz | Chair until 6 Feb 2023 | 2,794.52 | 0.00 | 5,103.25 | 1,980.00 | 7,083.25 | 16.16 |
| Nevenka Črešnar Pergar | Deputy Chair until 6 Feb 2023 | 2,794.52 | 0.00 | 4,428.57 | 3,300.00 | 7,728.57 | 183.63 |
| Andrej Koprivec | Member until 6 Feb 2023 | 2,794.52 | 0.00 | 4,151.79 | 1,980.00 | 6,131.79 | 183.63 |
| Božidar Godnjavec | Member until 6 Feb 2023 | 2,794.52 | 0.00 | 4,151.79 | 3,300.00 | 7,451.79 | 256.40 |
| Tomaž Benčina | Member until 6 Feb 2023 and Deputy Chair since 7 Feb 2023 | 15,000.00 | 0.00 | 23,294.65 | 7,766.00 | 31,060.65 | 2,461.36 |
| Mladen Jovičič | Member | 15,000.00 | 0.00 | 19,263.40 | 6,270.00 | 25,533.40 | 0.00 |
| Mehrudin Vuković | Member | 15,000.00 | 0.00 | 18,571.43 | 6,446.00 | 25,017.43 | 15.20 |
| Rok Parovel | Member | 15,000.00 | 0.00 | 19,263.40 | 6,842.00 | 26,105.40 | 0.00 |
| Simon Kolenc | External member of the SB’s Audit Committee until 22 Feb 2023 | 0.00 | 1,532.15 | 660.00 | 2,192.15 | 66.42 | |
| Mirko Bandelj | Chair since 7 Feb 2023 | 12,205.48 | 0.00 | 17,991.08 | 3,190.00 | 21,181.08 | 865.56 |
| Jožef Petrovič | Member since 7 Feb 2023 | 12,205.48 | 0.00 | 17,991.08 | 5,786.00 | 23,777.08 | 1,857.67 |
| Boštjan Rader | Member since 7 Feb 2023 | 12,205.48 | 0.00 | 17,991.08 | 6,138.00 | 24,129.08 | 807.03 |
| Borut Škabar | Member since 7 Feb 2023 | 12,205.48 | 0.00 | 15,111.61 | 4,290.00 | 19,401.61 | 0.00 |
| Barbara Nose | Member since 7 Feb 2023 | 12,205.48 | 0.00 | 16,191.44 | 4,862.00 | 21,053.44 | 1,378.74 |
| Mateja Treven | External Member of the SB's Audit Committee since 23 Feb 2023 | 0.00 | 5,067.86 | 1,672.00 | 6,739.86 | 376.02 |
| 1,532.15 | 5,785.60 | 5,785.60 | 5,785.60 | 19,510.20 | 8,818.84 | 28,416.61 | 16,590.84 |
|---|---|---|---|---|---|---|---|
| 5,067.86 | 4,263.40 | 2,906.13 | 3,985.96 | 2,308.73 | 1,634.05 | 1,357.27 |
|---|---|---|---|---|---|---|
• The Business Conference on Logistics took place in Belgrade on 6 June. The event was organised by the Chamber of Commerce and Industry of Slovenia in cooperation with Luka Koper, the SPIRIT Slovenia Public Agency, Slovenian Railways, the Chamber of Commerce and Industry of Serbia and the Slovenian Business Club Belgrade. The Slovenian logistics delegation aimed to find additional opportunities for cooperation with Serbian logistics companies.
• On 8 and 9 June, the company organised a two-day 'CoolWorkshop' at the container and reefer terminals, with a detailed presentation of services. It was attended by representatives of Polish logistics, transport operators, importers and exporters.
• On 21 June, a meeting of North Adriatic ports took place in Trieste, where port representatives signed a Memorandum of Understanding to jointly strengthen port decarbonisation and energy efficiency, paving the way for greater institutional and operational cooperation between North Adriatic ports in the coming years.
• The traditional Österreichischer Logistik Tag+Logistik Future Lab took place in Linz on 20 and 21 June. It is the most important logistics event in Austria, where Luka Koper, d. d., presented itself again this year.
• On 22 June, the Baltic-Adriatic Corridor Coordinator Anne E. Jensen and her colleagues visited the Port of Koper. The purpose of the visit was to review past, current and planned activities being implemented in part or in full within the framework of European projects.
• At the 37th Annual General Meeting held on 28 June 2023, the shareholders:
• In the hinterland of Basin III, one of the most important investments in the cat segment at the Port of Koper was completed and put into operation at the beginning of July, i. e., a new storage area for an additional 3,500 vehicles in the area of cassette 5.
• Pursuant to Article 29 of the Articles of Association of Luka Koper, d. d., the Supervisory Board of the company published a vacancy announcement for the position of President of the Management Board (m/f) or Member of the Management Board (m/f).
• Luka Koper, d. d., received the judgement of the High Court of Koper (CPG 50/2023) of 6 July 2023, which rejected the appeals of the plaintiff and all defendants against the judgement of the District Court of Koper (I Pg 265/2021 of 28 Sep 2022). The High Court of Justice thus upheld the judgement of the Court of First Instance regarding the liability for damages of the former members of the Supervisory Board in the case of the purchase of a 10 percent share in the logistics holding Trade Trans Invest (TTI) in the amount of EUR 16,387,100, with interest thereon. The judgement is final.
The visit was of a working nature, aiming to identify points of contact and opportunities for cooperation in the coming years.
In February, the Municipality of Koper launched a public call for proposals for grants from Luka Koper, d. d., to the residents of Koper’s wider urban core for the implementation of measures to reduce the impact of emissions from port operations. In 2024, EUR 320,000 is available for such measures, plus the remaining funds from last year's call for proposals.
Following an audit carried out in January 2024, Luka Koper d. d., received the ISO 37001/2016 certificate in March 2024 for the management system in place for the prevention of corruption.
Luka Koper as the only Slovenian multipurpose port is set at the crossroads of transport routes and comprises an integrated marine and coastal area, which accommodates port operations related to cargo and passenger transport services. With a reliable port offering and an extensive network of sea and rail connections, it supports global logistics solutions to the heart of Europe.
The core activity of the port, operated by Luka Koper, d. d., is the provision of reliable, high-quality transhipment and warehousing services for all types of goods, complemented by a range of additional services. The company also ensures the development and maintenance of port infrastructure. Customers are provided with comprehensive logistical support. Its goals are ambitious and are largely being achieved. By implementing the development policy of the port, Luka Koper, d. d., is reinforcing its competitive advantage. In 2023, there were no changes in the performance of the port's activities.
The port is surrounded by residents on two sides, and by natural environment of special importance (Natura 2000) on one side, whereas its external face is embraced by the vulnerable marine ecosystem. Due to its location, Luka Koper, d. d., has been seeking to improve the quality of life in the entire area in which the port is situated for a number of years.
The port's activities are in line with sustainable development guidelines. Its planned development is based on four starting points: increasing infrastructure capacity and capability, accelerating the introduction of the smart port concept, ensuring adequate staffing, and taking care of sustainability aspects and reducing negative impacts on the environment and society. The multi-purpose port model, which is one of the company's key competitive advantages, continues to be maintained.
In addition to the controlling company Luka Koper, d. d., the Luka Koper Group also includes subsidiaries and associates. The companies of the Luka Koper Group operate in the territory of the Republic of Slovenia, whereas Adria Transport Croatia, d. o. o., a company 100%-owned by Adria Transport, d. o. o., operates in the Republic of Croatia. In 2023, there was a change in the composition of the Luka Koper Group, which is reported in more detail in Section 7.3 ‘Inclusion into consolidated financial statements’.
The Luka Koper Group provides eleven basic services (loading/unloading of ships, loading/unloading of trucks, loading/unloading of wagons, embarkation/disembarkation of passengers, storage, delivery, ship berthing) and a range of complementary services on goods and other services, providing customers with comprehensive logistics support.
Sustainability and development are reported in more detail in the Sustainability Report further on in this document.
| Company name | LUKA KOPER, pristaniški in logistični sistem, delniška družba |
|---|---|
| Trade name | LUKA KOPER, d. d., Vojkovo nabrežje 38, 6000 Koper – Capodistria |
| Registered office | Koper |
| Business address | Koper, Vojkovo nabrežje 38, 6000 Koper/Capodistria |
| Legal form of organisation | Public limited company |
Phone: 00 386 (0)5 66 56 100
Fax: 00 386 (0)5 63 95 20
E-mail: [email protected]
Website: www.luka-kp.si
Sustainable development website: http://www.zivetispristaniscem.si
Court register of companies
District Court of Koper, entry no. 066/10032200
Registration number: 5144353000
ID for VAT: SI 89190033
Share capital: EUR 58,420,964.78
Number of shares: 14,000,000 ordinary no-par value shares
Share listing: Ljubljana Stock Exchange, Prime Market
Share ticker symbol: LKPG
President of the Management Board: Nevenka Kržan
Member of the Management Board: Gregor Belič
Member of the Management Board: Gorazd Jamnik
Member of the Management Board - Worker Director: Vojko Rotar
President of the Supervisory Board: Mirko Bandelj
Core business: Seaport and logistics system service provider
Activities performed by the Luka Koper Group: Various service activities
The Luka Koper Group includes related parties that contribute to the comprehensive range of services provided by the port. The Luka Koper Group includes five companies, i.e., the controlling company and four subsidiaries:
Associates
The consolidated financial statements of the Luka Koper Group for the year ended 31 December 2023 consist of the financial statements of the controlling company Luka Koper d. d., its subsidiaries and corresponding results of associates.
The companies Adria Investicije, d. o. o., and Logis-Nova, d. o. o., were not included in the consolidated financial statements as they operate in a limited scope and are not considered significant for a fair presentation of the Group’s financial position.
In accordance with the decision of the sole shareholder, the investment in Adria Investicije d. o. o., was transferred to Adria Terminali d. o. o., as at 31 Dec 2023, as a subsequent contribution recorded in capital reserves.
In 2008, Luka Koper, d. d., concluded with the State the Concession Agreement for the performance of port activity, management, development and regular maintenance of the port infrastructure in the area of the Koper cargo port. The concession agreement was concluded for a period of 35 years, as stipulated in the Maritime Code. The agreed concession fee amounts to 3.5 percent of the Company's sales revenue, excluding port fee income. The concession fee also includes the water right, water charges and other duties related to the use of the sea belonging to the Republic of Slovenia. Luka Koper, d. d., pays the total concession fee to the Republic of Slovenia, which then allocates half of the amount to the two local communities, the Municipality of Koper and since 1 January 2015, also to the Municipality of Ankaran.
Two public utility services are performed in Luka Koper, d. d., i.e., the public utility service of regular maintenance of the port infrastructure intended for public transport and the public utility service of collecting waste from vessels in the Koper port area.
The core port activity of throughput and warehousing is carried out at twelve specialised port terminals, which are organised according to the goods/cargo they receive. Each terminal has its own characteristics depending on its goods-specific work process, technological procedures and technology. The terminals are joined into five profit centres. They are described in detail on the website Services & terminals - Luka Koper d. d. (luka-kp.si). The main port activity is carried out at one location, i.e., in the port area.
The onshore part of the concession area consists of 300 ha of land, with 63.1 ha of warehouses and 118.3 ha of open-air storage areas. 30 berths are located on 3,475 metres of the shoreline along 224 hectares of the sea. In terms of logistics operations, the services include:
The services of individual terminals are supplemented by the companies Luka Koper INPO, d. o. o., Adria-Tow, d. o. o., Adria Transport, d. o. o., and Avtoservis, d. o. o., which enables a quick response to the customers’ needs.
Luka Koper INPO, d. o. o., performs various services within its three units, service, maritime, and municipal, for the needs of the parent company and other users. While providing these services, the company ensures the employment and training of disabled persons.
Adria-Tow, d. o. o., provides ships and craft towing services, ship supply services, and sea rescue and vessel assistance in the Koper port. The company's fleet consists of five tugs.
Adria Transport, d. o. o., facilitates efficient railway logistics between the Koper port and its hinterland.
Avtoservis, d. o. o., provides full servicing for personal and light commercial vehicles. Their services are available to vehicle importers and exporters as well as freight forwarders using the port of Koper as a logistic solution.
Adria Terminali, d. o. o., manages the hinterland logistics terminal in Sežana, focusing on the transhipment and warehousing of various kinds of goods. The terminal is well-connected to the railway and road infrastructure.
In addition to the core port activities, the Group's operations include the activities of TOC, tehnološko okoljski in logistični center, d. o. o., which provides services in technological and ecological research, as well as analytical laboratory services.
Adria Investicije, d. o. o., (rental and use of real estate on a contractual and real-estate basis) and Logis-Nova, d. o. o., (an agricultural and real-estate company) operate on a very limited scale.
In 2023, the Luka Koper Group continued to implement activities to achieve the objectives set out in the Strategic Business Plan 2020-2025.
A new Strategic Business Plan for the period 2024-2028 was adopted in 2023. The document takes into account trends in the logistics industry, competition analysis, development expectations and the awareness that only those logistics companies that have a clearly defined sustainable development strategy can expect stable growth in the long term. Over the next five years, the mission of Luka Koper will continue to be based on providing reliable, high-quality port services in line with sustainable development guidelines - with the aim of becoming the first choice among ports on the European southern transport route. Its planned development is based on four starting points: increasing infrastructure capacity and capability, accelerating the introduction of the smart port concept, ensuring adequate staffing, and taking care of sustainability aspects and reducing negative impacts on the environment and society. The multi-purpose port model, which is one of the company's key competitive advantages, continues to be maintained.
To provide reliable and high quality port services, in line with sustainable development guidelines.
To become the first choice among ports on the southern European transport route by creating added value for our customers.
The company's key strategic objectives include an increase in total operating revenue to EUR 413 million and growth in total throughput by 3.5 percent per annum, with a focus on the container and car segments, which continue to be the strategic commodity groups of the Port of Koper. Particular attention will be paid to infrastructure development and capacity building. Activities will focus on obtaining funds for co-financing investment projects with an emphasis on constructing the infrastructure to supply ships with electricity directly from the shore. The digital transformation process will continue, aiming at the automation and optimisation of key processes, and further steps will be taken towards a climate transition. In this context, the company will work to maintain environmental sustainability standards (EMAS), reduce the carbon footprint and increase energy self-sufficiency through renewable energy sources.
The company has set itself the following objectives by 2028:
The safety and health of employees and other port users is a prerequisite for all activities. Luka Koper will reduce occupational injuries and health impacts on its employees through continuous improvements.
Development of hinterland infrastructure and efforts to acquire available land in the immediate vicinity (national spatial plan) for the development of activities not related to the concession area.
Focusing on innovation and networking with development institutions to apply new technologies and create a comparative advantage.
Seeking market opportunities for the creation of capital links (acquisitions, mergers) towards vertical or horizontal integration.
Maritime transport is the backbone of global trade, connecting economies around the world. In 2023, it faced a myriad of global challenges such as geopolitical tensions and uncertainties, trade disputes between major economies, new regulations, environmental and technological challenges that pose significant obstacles to maritime transport and related industries such as port operations, logistics, warehousing and land transport. The resurgence of protectionism and trade tensions between major economies is reshaping global supply chains, prompting companies to diversify sourcing strategies and explore alternative markets. The importance of using flexible supply chains and diversifying sourcing strategies, including 'nearshoring' - choosing suppliers closer to the point of consumption to shorten supply chains and thus minimise risk - is emphasised. The year 2023 was marked by a cooling global economy and a decline in industrial production and trade, and thus in the volume of goods transported by sea.
The impact of the COVID-19 pandemic on the transport of containers by sea gradually faded in 2023. The situation in supply chains, especially in ports, eased gradually, but the sector continued to face challenges in early 2023, such as labour shortages, port congestion and fluctuating demand for goods. Container freight rates fell drastically at the beginning of the year, dropping back to the levels seen before the outbreak of the COVID-19 pandemic, due to a marked drop in demand as a result of the widespread high cost of living, the uncertain situation in many parts of the world and the changed purchasing habits in the aftermath of the pandemic. Demand for sea freight from overseas markets had cooled considerably due to large inventories of goods by sellers and manufacturers, built up due to fears of irregular deliveries and delays. The situation was exacerbated by excess capacity as shipping companies took delivery of new ships ordered during the prosperity period between 2021 and 2022.
In 2023, there were strikes by railway and port workers. The refurbishment of infrastructure, particularly railways, caused disruptions in land freight transport in many countries.
In 2023, the flow of goods in the global economy was also affected by the continuation of the war in Ukraine, and at the end of the year, the Israeli military intervention in Gaza, and in December attacks by the Houthis on merchant ships in the Red Sea, more precisely in the Bab al Mandab strait, which led to the first diversions of shippers from the Suez Canal route to the route around Africa. In December, we saw an exceptional increase in freight rates due to the longer route around Africa, the associated higher costs and the temporary shortage of shipping space.
Despite many challenges due to disruptions in global supply chains and increasingly fierce competition from neighbouring ports, the Port of Koper managed to reach a new milestone in container throughput in 2023, maintaining its position as the leading container terminal in the Adriatic and its high market shares in key hinterland markets. Neighbouring competitor ports recorded a decline in throughput in 2023. Several container shipping companies have introduced additional sea connections between Koper and the Mediterranean ports due to the growing potential in the Mediterranean for the transport of perishable goods, as well as other goods whose production is moving back closer to Europe from the Far East due to the lower logistics risk. There is a growing demand in the market for the transport of various goods in refrigerated containers. Equipping the container terminal with additional plugs for refrigerated containers has enabled further growth of the throughput of such containers in the Port of Koper.
Having achieved record vehicle throughput, Luka Koper, d. d., maintained its position as the largest vehicle terminal in the Mediterranean and consolidated its position among the five largest terminals in Europe. Despite many challenges, such as the lack of warehouse space in the port, the company provided a good enough service to its customers to make them shift existing and new business from other European vehicle terminals to Koper, especially trade flows to the Middle and Far East. Due to the lack of space on ships for transporting vehicles and the low freight rates in container shipping, there has been an increased interest in transporting cars in containers, especially electric cars from the Far East.
Due to the reduction in container freight rates in 2023, some types of cargo have returned to containers from conventional ships, resulting in a decline in general cargo transshipment. However, there was an increase in the transhipment of project cargoes, primarily destined for the construction of new vehicle and battery factories in the Central European back markets.
Due to climate change and the resulting changes in the conditions for fruit and vegetable production in the European Union, as well as poorer harvests, the port has seen in the transhipment of goods unloaded from refrigerated containers at the port, mainly perishable goods imported from Egypt, from where two new direct container lines were established in the second half of the year.
The operating performance of the Luka Koper Group in 2023 exceeded expectations. New milestones were reached in transhipment, with records set in several segments.
Record throughput volumes were achieved in 2023 in both strategic commodity groups, containers and cars, as well as in the passenger terminal, the reefer terminal and the liquid cargo terminal. In the container segment, 1,066,093 container TEUs were handled in 2023, an increase of 5 percent compared to 2022, and 2 percent less than planned. Car transhipment in 2023 amounted to 916,728 cars (in pieces), 14 percent more than in 2022, and 21 percent more than planned. Luka Koper, d. d., has thus consolidated its position and confirmed its primacy among ports in the Adriatic (containers) and the Mediterranean (cars). The passenger terminal welcomed 120,553 passengers to the port in 2023, surpassing the 2019 figure of 115,581.
In 2023, the total maritime throughput (in tons) reached 22.3 million tons of goods, which was 4 percent lower than that achieved in 2022, mainly due to a 15 percent lower throughput of general cargo and a 15 percent lower throughput of the dry bulk and bulk cargoes commodity group. The total maritime throughput was 5 percent less than planned.
| Commodity groups (in metric tons) | 2022 | Plan 2023 | 2023 | Index 2023/Plan | Index 2023/2022 |
|---|---|---|---|---|---|
| General cargoes | 1,311,121 | 1,379,360 | 1,109,907 | 80 | 85 |
| Containers | 9,659,447 | 10,389,533 | 9,800,703 | 94 | 101 |
| Cars | 1,394,106 | 1,327,485 | 1,568,617 | 118 |
| 4,644,337 | 4,100,000 | 4,498,697 |
|---|---|---|
| 6,239,783 | 6,137,500 | 5,289,610 |
|---|---|---|
| 23,248,795 | 23,333,878 | 22,267,534 |
|---|---|---|
Containers dominate the overall structure of throughput (in tons), accounting for 44 percent in 2023 and increasing by 2.5 percentage points compared to 2022. The share of the car commodity group increased by 1 percentage point, while the share of liquid cargo increased by 0.2 percentage points. The share of general cargoes decreased by 0.7 percentage points and the share of dry bulk and bulk cargoes by 3 percentage points.
In the general cargo commodity group, 1.1 million tons of goods were handled in 2023, 20 percent below plan and 15 percent less than in 2022. The reduction in container freight rates had a significant impact on general cargo flows in 2023, as some goods were re-routed to containers, increasing the volume of container loading and unloading services. However, imports of goods by conventional ships decreased, especially in the rubber and steel products commodity groups. Timber exports were higher in the case of timber transhipment.
In the liquid cargo commodity group, 4.5 million tons of goods were handled in 2023, 10 percent above plan and 3 percent below the 2022 level. Growth was recorded in all commodity groups, with diesel and aviation fuel standing out, which for the first time since the pandemic exceeded the volumes of previous years. The transhipment of petroleum products in 2023 was slightly lower than the volumes achieved in 2022.
In the dry bulk and bulk cargoes commodity group, 5.3 million tons of goods were handled in 2023, 14 percent below plan and 15 percent less than in 2022. Transhipment of bulk cargoes in 2023 was shaped by geopolitical conditions in connection with the prices of energy and energy products and the cancellation of the Italian government's decree to restart thermal power plants. Fertilisers have seen higher transhipment due to reduced domestic production and associated higher imports.
Throughput of containers (TEU) and cars (pieces) in 2023 compared to the 2023 plan and 2022
| Commodity groups | 2022 | Plan 2023 | 2023 | Index 2023/Plan | Index 2023/2022 |
|---|---|---|---|---|---|
| Containers – TEU | 1,017,808 | 1,089,010 | 1,066,093 | 98 | 105 |
| Cars – pieces | 801,036 | 760,000 |
At the end of 2023, a new annual historical record in container throughput was achieved at the container terminal with 1,066,093 transhipped container units (TEUs). Container handling was slightly lower than planned and by 5 percent higher than in 2022.
The container terminal continued to experience ship delays and arrivals outside the agreed 'time windows' in 2023, but to a lesser extent than the previous year, with a positive impact on occupancy and consequently improved productivity in all operational segments of the terminal. The terminal's responsiveness to these circumstances has helped to further establish the Port of Koper as an increasingly important entry point for cargo from Asia, especially for the rapidly developing economies of Central Europe.
The car terminal also achieved a new annual throughput record in 2023, with 916,728 vehicles transhipped, which is 21 percent above plan and 14 percent more than in 2022. Transhipment increased both in exports, mainly to the Middle and Far East, and in imports, in which the share of electric vehicles, the majority of Chinese production, is increasing significantly. The increase in throughput is the result of the redirection of commodity flows, which the car terminal has successfully realised with reliable services and capacities built up in recent years.
The passenger terminal reached a new milestone in 2023 after a reduced volume due to the pandemic, as it recorded 78 passenger ship arrivals with a total of 120,538 passengers.
| Luka Koper, d. d. | 1,066,093 |
|---|---|
| Port of Rijeka | |
| Port of Trieste | Maintained 2022 level |
| Port of Venice | 8% decrease |
| Port | Throughput Change |
|---|---|
| Rotterdam | 7% drop |
| Hamburg | 7% drop |
| Antwerp-Bruges | 7% drop |
In 2023, all three Mediterranean ports achieved growth in car throughput compared to 2022. The highest growth was recorded by the port of Barcelona, i.e. 22 percent, Luka Koper, d. d., achieved a 14 percent increase in car throughput, and the port of Valencia a 7 percent increase. In absolute terms, Luka Koper, d. d., handled the most cars in 2023, with 916,728 vehicles.
| Port | Growth |
|---|---|
| Barcelona | 22% |
| Luka Koper, d. d. | 14% |
| Valencia | 7% |
Net sales in 2023 amounted to EUR 312.8 million, which was on a par with the level of revenue achieved in 2022. Within net sales, revenue increased by EUR 20 million due to greater container and car transhipment, greater volume of loading and unloading of containers, greater volume of other additional services on goods and higher service prices. Compared to the previous year, due to the normalisation of the situation on the global logistics market and the shortening of the storage time of containers in the storage facility, revenues from storage fees decreased by EUR 21 million.
In 2023, earnings before interest and taxes (EBIT) amounted to EUR 60.9 million, which was a decrease of 27 percent or EUR 22.2 million when compared to 2022. The main contributor to the lower earnings before interest and taxes (EBIT) in 2023 was lower storage fees, while higher operating costs of EUR 23.3 million, which were due to inflationary pressures and higher number of employees and agency workers, were mostly offset by the Luka Koper Group with revenues from other services.
lower average fuel prices. The cost of services increased by 15 percent or EUR 10.5 million. Within the cost of services, the cost of port services increased by EUR 4.7 million because of higher business volumes, mainly due to increased car throughput and higher staff costs through agency companies. Higher volume of maintenance work and higher prices resulted in an increase of EUR 3.9 million in maintenance service costs. Labour costs increased by 9 percent or EUR 8.6 million due to higher staff numbers, higher merit payments and the adjustment of salaries to inflation; depreciation and amortisation costs are higher due to new asset acquisitions, while other operating expenses are higher than the previous year mainly due to the establishment of long-term provisions related to lawsuits.
Operating expenses as a percentage of net sales in 2023 amounted to 82.5 percent, up 7.6 percentage points from 74.9 percent in 2022, mainly due to higher operating expenses as a result of inflationary trends. Comparatively, the share of cost of services, labour costs and other operating expenses in net sales increased from 2022 due to a different income structure, whereas the shares of the costs of materials and other amortisation and depreciation expenses remained unchanged. Excluding the one-off impact of higher revenues from storage fees in 2022 which were the result of unique global market conditions and the increased dwell time of goods in warehouses, the share of operating expenses in net sales in 2022 would be 89.8 percent, 7.4 percentage points higher than in 2023. In this case, the share of all types of costs would decrease in 2023, with the exception of other operating expenses, which would remain at the same level.
In 2023, net profit or loss amounted to EUR 56.4 million, which was a decrease of 24 percent or EUR 17.7 million when compared to the net profit in 2022. The net profit was positively impacted by the operating result from financing in the amount of EUR 4.7 million, an increase of 51 percent or EUR 1.6 million compared to the previous year. The Group also generates finance income in the financial markets through interest on funds placed in short-term bank deposits and treasury bills. The results of associates in 2023 amounted to EUR 1.8 million, an increase of 3 percent or EUR 46.1 thousand compared to 2022.
The balance sheet total of the Luka Koper Group as at 31 December 2023 amounted to EUR 774.2 million, an increase of 10 percent or EUR 73.1 million compared to 31 December 2022.
Non-current assets increased by EUR 14.4 million. The value of property, plant and equipment and other finance investments increased. Current assets increased by EUR 58.6 million due to the placement of cash in short-term bank deposits (amounting to EUR 30 million at 31 December 2023) and in treasury bills (other finance investments amounting to EUR 39.5 million at 31 December 2023). As a result, the value of cash and cash equivalents decreased.
The equity of the Luka Koper Group increased by EUR 27.3 million in 2023, which was the net effect of the increase in equity due to the introduction of the net profit for the period of EUR 29.2 million, the increase in the revenue reserves of EUR 27.2 million, the increase in the retained earnings on the disposal of an investment valued through equity in the amount of EUR 2.1 million, and a positive change in the revaluation surplus on investments of EUR 3.8 million and its reduction due to the payment of dividends by the controlling company in the amount of EUR 35 million according to the decision of the Company's General Meeting. The non-current liabilities of the Luka Koper Group, including long-term provisions and long-term accrued costs and deferred revenue, were EUR 46.1 million higher at 31 December 2023 than at 31 December 2022, as non-current financial liabilities increased by EUR 39.7 million due to the net effect of the realised drawdown under the controlling company's long-term credit agreement of EUR 60 million and the regular transfer of the principal amounts from the contractually agreed amortisation plans to current liabilities. Deferred income increased by EUR 2.6 million and provisions by the same amount. As at 31 December 2023, current liabilities of the Luka Koper Group were lower by EUR 0.3 million than the previous year-end. The increase in financial liabilities of EUR 6.9 million is due to the aforementioned drawdown of the new loan, while the increase in trade and other payables of EUR 2.7 million mainly relates to payables to suppliers. The Luka Koper Group had no recognised income tax liabilities as at 31 December 2023, whereas at the previous year-end they amounted to EUR 9.9 million.
As at 31 December 2023, the financial liabilities of the Luka Koper Group amounted to EUR 110 million, and grew EUR 46.3 million from the previous year-end. The increase is due to the net effect of an increase in loan commitments due to the drawdown of a previously granted loan and the regular repayment of principal under contractually agreed amortisation plans.
As at 31 December 2023, the net financial debt/EBITDA ratio was 0.3. The Luka Koper Group also had EUR 69.5 million of surplus cash placed in short-term deposits and other finance investments, which are not included in the calculation of net financial debt. If at the end of 2023, the Luka Koper Group had no such placements of surplus cash, but instead only in the form of cash and cash equivalents, it would still show a negative value of the net financial debt/EBITDA indicator, as its value would be -0.4.
In 2023, the Luka Koper Group exceeded its planned financial indicators. Net sales revenues were higher than planned by 8 percent, or by EUR 22.7 million. The main contributor to the higher net sales was storage fee income, which exceeded the planned figure by EUR 19 million, as the business plan had foreseen a reduction in the dwell time of containers due to the calming market conditions. Earnings before interest and taxes (EBIT) were higher than planned by 76 percent, or by EUR 26.4 million. In addition to the higher net sales revenue, the higher earnings before interest and taxes (EBIT) were positively impacted by lower material, labour and depreciation costs, while the higher cost of services was due to an increase in the cost of port services linked to the higher throughput on the car commodity group and the cost of labour placement agencies. In 2023, net profit or loss of the Luka Koper Group amounted to EUR 56.4 million, which was an increase of 75 percent or EUR 24.1 million when compared to the plan.
According to the plan, the throughput of the cars commodity group (in pieces) was higher by 21 percent, while the throughput of the containers commodity group (in TEUs) lagged behind the plan by two percent. The total maritime throughput, measured in tons, was 5 percent less than the planned quantities.
In 2023, Luka Koper Group continued the development cycle of its two most important strategic commodity groups, making the most significant investments in the container terminal and the car terminal. In 2023, the Luka Koper Group allocated EUR 41.5 million to investments in property, plant and equipment, investment property and intangible fixed assets, which is 18 percent or EUR 9.2 million less than in 2022. Luka Koper, d. d., allocated the amount of EUR 41.3 million to investments in 2023, which accounted for 99.3 percent of investments of the Luka Koper Group.
Several major investments were concluded:
Other major investments in 2023:
Among the most important investment projects underway in late 2023 were the construction of the 12th berth and the installation of solar power plants, the execution of a public contract for warehouse No 54 and the preparation of documentation and obtaining the relevant permits for the extension of the northern part of Pier I and the development of other areas for the container terminal.
All investments foreseen for the year 2023 were studied from the economic aspect, the aspect of eligibility, energy savings, urgency and from the aspect of legal obligations or other impacts. The decisions on major investments were taken on the basis of the prepared investment studies and conducted analyses of their impact on return on equity.
In 2023, the Luka Koper Group earmarked EUR 4.8 million, or 11.5 percent of the total investment value, for environmentally sustainable investments, i.e. current environmental, energy, and occupational safety challenges. The following investments were made in the area of environment, energy and occupational safety:
In 2023, Luka Koper d. d., implemented projects under the Connecting Europe Facility (CEF), Horizon 2020, Horizon Europe, Territorial Cooperation (Interreg), the European Economic Area Financial Mechanism and the Recovery and Resilience Plan.
Two projects were successfully completed, namely the 5G-LOGINNOV project (Horizon 2020 programme) and the EALING project (CEF programme). In 2023, the company received a total of EUR 2.9 million inflows for ongoing projects from co-financing.
Also, activities continued under the Financial Perspective that started in 2022. In this context, an additional EUR 600,000 has been secured this year from various programmes, to be drawn down over the next three years.
In line with the Company's policy on sustainable development in the port area and taking into account the port's infrastructure needs, the Company has secured funding from the CEF, Interreg, Horizon 2020/Horizon Europe, the Recovery and Resilience Plan and the European Economic Area Financial Mechanism for ongoing projects, namely:
In 2024, the company will start implementing the activities of the RENEWPORT project for co-financing the purchase and installation of a solar power plant on the administrative building of the container terminal for an amount of EUR 0.2 million, and the 5G-SITACOR project for developing a plan for the deployment of its own 5G network in the port.
In a forecast published in January 2024, the IMF 30 projects global GDP growth in 2024 to remain at the same level as in 2023, which means 3.1 percent, rising to 3.2 percent in 2025. The forecast for 2024 is 0.2 percentage point higher than the October 2023 forecast due to stronger resilience in the United States and emerging and developing markets, and fiscal support in China. The growth forecast for the period 2024-2025 is, on average, 3.8 percentage points below the average for the period 2000-2019. Inflation is falling faster than expected in most regions, driven by supply growth and tight monetary policy. The global inflation rate is projected to fall from 6.8 percent in 2023 to 5.8 percent in 2024 and to 4.4 percent in 2025, a 0.2 percentage point decrease compared to the October 2023 forecast.
The estimated GDP growth rate for the euro area is 0.5 percent in 2023 and is projected to rise to 0.9 percent in 2024 and 1.7 percent in 2025. In China, the GDP growth rate is expected to fall from 5.2 percent in 2023 to 4.6 percent in 2024, before declining to 4.1 percent in 2025.
Towards the end of 2023, the volume of world trade declined sharply, mainly at the expense of decrease in the EU and the US. According to S&P Global, growth in total world trade volume is expected to be negative in 2023 (-1.7 percent). In 2023, a significant decline was recorded in maritime container traffic (-4.7%). In 2024, the volume of maritime container traffic is expected to grow by 2.1 percent. In the long term, growth in the volume of total world trade is estimated at between 1.8 percent and 3.0 percent. The main uncertainties for the forecast are:
The outlook for the second most important commodity group, i.e. cars, is also encouraging, with the EIU 31 forecasting a 3-percent growth in global passenger car sales in 2024.
IMAD 32 forecast GDP growth of 2.8 percent and investment growth of 5.5 percent for Slovenia in 2024. Inflation is expected to fall to just above 3 percent by the end of 2024.
In 2024, the transhipment of the strategic commodity group containers is planned in the amount of 1,093 thousand TEU, which is 3 percent more than in 2023, while at the same time the transhipment of the strategic commodity group cars is planned to be 2 percent lower, which means 895 thousand vehicles. The total throughput (in tons) is projected to increase by 1 percent to 22.6 million tons in 2024 compared to 2023.
In 2024, Luka Koper, d. d., plans net sales revenues of EUR 320.9 million, while the Luka Koper Group plans net sales revenues of EUR 324.5 million, representing a 4 percent growth compared to 2023. The higher net sales revenue will be driven by projected growth in cargo throughput and sales prices.
The planned net operating result of Luka Koper, d. d., and the Luka Koper Group in 2024 is 15 percent lower than that achieved in 2023.
The investment plan of Luka Koper, d. d., and the Luka Koper Group for 2024 is in line with the objectives set out in the Strategic Business Plan. Key investment projects in 2024 will be related to continued activities to increase the capacity of the container terminal, construction of additional open-air storage areas for car handling, increasing storage capacity for general cargo handling, construction of a new passenger terminal, construction of solar power plants on roofs of the existing storage facilities, construction of a fire station, and purchase of equipment. In 2024, the Luka Koper Group will allocate EUR 21 million for sustainable development and social responsibility projects, which is 32 percent of all planned investments.
Until the construction of Track 2, the situation on the Slovenian railway network and maintenance works will affect the operations of the Luka Koper Group as it poses an obstacle to further growth and causes the loss of part of the business that the company already had in the past. The Group has prepared the 2024 plan on the assumption that the war in the Middle East will not be protracted and will not affect the reduction of the volume of business.
| Items | Luka Koper, d. d. | Luka Koper Group | ||||
|---|---|---|---|---|---|---|
| 2023 | Plan 2024 | Index 2023/Plan 2024 | 2023 | Plan 2024 | Index 2023/Plan 2024 | |
| Net sales (in EUR) | 309,284,223 | 320,850,930 | 104 | 312,772,489 | 324,524,911 | 104 |
| Earnings before interest and taxes (EBIT) (in EUR) | 59,233,239 | 48,872,228 | 83 | 60,912,423 | 50,349,756 | 83 |
| Earnings before interest, taxes, depreciation and amortisation (EBITDA) (in EUR) | 91,496,341 | 80,969,188 | 88 | 93,731,962 | 83,726,233 | 89 |
| Net profit or loss (in EUR) | 54,450,022 | 46,551,351 | 85 | 56,445,369 | 48,042,914 |
| Added value (in EUR) | 193,214,462 | 203,478,682 | |
|---|---|---|---|
| 105 | 203,608,146 | 215,208,187 | |
| 106 | Capital expenditure (in EUR) | 41,259,790 | 66,577,466 |
| 161 | 41,543,822 | 71,588,933 | |
| 172 | Maritime throughput (in tons) | 22,267,534 | 22,559,000 |
| 101 | 22,267,534 | 22,559,000 | |
| 101 | Number of employees | 1,757 | 2,141 |
| 122 | 1,922 | 2,310 |
| 2023 | Plan 2024 | Index | 2023/Plan 2024 | |
|---|---|---|---|---|
| Return on sales (ROS) | 19.2% | 15.2% | 79 | |
| 19.5% | 15.5% | 79 | ||
| Return on equity (ROE) | 11.0% | 9.2% | 84 | |
| 10.7% | 8.9% | 83 | ||
| Return on assets (ROA) | 7.8% | 6.2% | 79 |
| 31.12.2023 | Plan 31 Dec 2024 | Index 2023/Plan 2024 | |
|---|---|---|---|
| Assets (in EUR) | 733,439,080 | 751,651,839 | 102 |
| 774,226,552 | 772,734,726 | 100 | |
| Equity (in EUR) | 505,347,400 | 513,941,332 | 102 |
| 543,052,948 | 552,992,476 | 102 |
Risk and opportunity management is an important element of the Luka Koper Group's strategy and business performance. The Group uses an advance risk and opportunity management system, which ensures that the key risks and opportunities the Group is exposed to are identified, evaluated, controlled, monitored and duly reported. Although a Risk and Opportunity Management Committee has been appointed, risk and opportunity management is a concern of every employee of the Group within the scope of their duties and responsibilities. Risks and opportunities are recognised 'bottom up', ensuring that all business processes are covered, while the methodology is defined 'top-down', providing for a consistent application of the risk and opportunity management system across the entire Group. In the Luka Koper Group, the risk and opportunity management system is continuously being improved, also by upgrading the inventory of internal controls for individual processes.
The basis of the risk and opportunity management system is the risk and opportunity register, which contains a list of all identified risks and opportunities, characteristics of particular risks and opportunities, identified measures and control activities, and persons responsible (administrators) for monitoring individual risks and opportunities. The register is kept centrally at the level of the Luka Koper Group in order to systematically monitor and analyse risks, and is updated quarterly. A five-level methodology was worked out for the assessment of both risk and opportunity likelihood and the related consequences. Five dimensions are taken into account in the assessment of consequences, including consequences for health and safety, finances, the environment, the Company’s reputation, and compliance. The joint risk and opportunity assessment is the product of the assessment of likelihood and highest possible assessment of consequences. Based on the joint risk and opportunity assessment, all risks and opportunities identified in the register are classified from irrelevant to material according to a five-level scale. The quantitative assessment system ensures that the focus is on the management of key risks and opportunities (overall assessment 10 or above).
| Probability | Very high (5) | High (4) | Medium (3) | Low (2) | Very Low (1) |
|---|---|---|---|---|---|
| Very high (5) | 5 | 10 | 15 | 20 | 25 |
| High (4) | 4 | 8 | 12 | 16 | 20 |
| Medium (3) | 3 | 6 | 9 | 12 | 15 |
| Low (2) | 2 | 4 | 6 | 8 | 10 |
| Very Low (1) |
| Very Low (1) | Low (2) | Medium (3) | High (4) | Very high (5) | |
|---|---|---|---|---|---|
| Consequence | irrelevant risk (overall risk assessment = 1–2) | less important risk (overall risk assessment = 3–4) | moderate risk (overall risk assessment = 5–9) | important risk (overall risk assessment = 10–16) | material risk (overall risk assessment = 20–25) |
In the context of the risk and opportunity management system, the Luka Koper Group regularly monitors exposure to all the perceived and potential new risks and opportunities, and determines and implements the measures to ensure an acceptable level of operational risk and opportunities.
The company has adopted a Risk Appetite Statement. The risk appetite of the Luka Koper Group means the total level of risks that the Luka Koper Group is willing to assume within its risk-taking capacity in order to achieve its strategic goals and fulfil its business plan. In order to take advantage of the opportunities to achieve its strategic goals while following the highest standards of sustainable development in making current business decisions and running day-to-day operations, the Luka Koper Group is ready to accept risks that are assessed as moderate at best after taking appropriate measures, however:
• It is not willing to take risks that could result in serious and fatal injuries to persons and/or high negative impacts on the environment and property;
• It is not willing to take risks arising from breaches of international regulations, national legislation, standards and internal regulations, with an emphasis on compliance with legislation and regulations on security, personal data protection, environmental protection, occupational safety and the prevention of corruption. The operations of the Luka Koper Group are based on the values and principles that oblige us to respect ethical and professional standards.
• It has a low appetite for financial risks associated with long-term financial stability and for unexpected negative effects stemming from changed market interest rates. The Group must maintain an appropriate level of liquidity and solvency in order to meet its obligations and meet its commitments to banks.
According to the internal documents of the management system, the unwillingness to assume these three types of risks is demonstrated by assessing the probability as 'very rare' and 'rare'. The Risk and Opportunity Management Committee, the Risk and Opportunities Management Officer, the Internal Audit Department, the Compliance Officer, the Corporate Integrity Officer and other competent departments regularly monitor the compliance of the risk profile with risk appetite and keep the Management Board, the Audit Committee and the Supervisory Board informed through reviews and reports. If the risk appetite is found to be exceeded, proposals for measures to revert the operations to an acceptable level of risk shall be prepared.
the preceding year. Risk managers assess risk and opportunities on a quarterly basis and monitor the effects of risk reduction methods. Risk analysis and evaluation by the Risk Manager is carried out whenever risk measures are implemented and when significant changes in the external and internal environment are detected. Based on their findings, the Risk Management Officer reports to the Risk Management Committee, which meets quarterly, and additionally if necessary. The Risk Management Officer and the members of the Committee shall be appointed by the Management Board of Luka Koper, d. d. Risks are reported quarterly to the Management Board and the Audit Committee of the Supervisory Board.
The average assessment of residual risk after the measures taken was 7.0 (moderate risk) at 31 December 2023. Risks with the highest risk scores arise from the external environment. The company cannot fully manage these risks with various response methods, however, with the measures taken on the expenditure and revenue side, it reduces the probability and consequences of materialisation.
Risks identified at the first level fall into four main groups. At the second level these are divided into individual topic-related sub-groups. Despite the implemented measures, four risks remain identified as material. The average assessment of residual risk is the highest in the case of strategic risks (9.4) because there are certain risks that the Company cannot manage alone with its measures as they originate in external factors (e.g. deterioration of the economic situation, government-owned infrastructure, shipowners and logistics operators entering the ownership of terminals in nearby ports). Operational risks with the average score of 6.3 are the largest group in terms of number, including a wide and diversified range of risks (e.g. safety at work, damage to cargo and equipment, information risk). Compliance risks have an average residual risk score of 7.6, representing a smaller set of risks, mainly related to environmental and labour legislation. Financial risks are currently evaluated as posing the smallest threat (4.0), as the company has low indebtedness, a small share of defaulters, secured receivables, and low exposure to foreign currencies. The Luka Koper Group also includes environmental, social and governance aspects (ESG) in its risk register. Due to the nature of its business, the largest number of identified risks are related to environmental aspects. Key risks, assessed according to the residual risk, and the methods of their management are presented in more detail below.
According to their content, strategic risks are of the type that can jeopardize the achievement of set goals. Strategic risks result from the mutual incompatibility of strategic objectives, the business strategy adopted to reach them, the availability of funds for reaching the set objectives, the ownership structure, and the general economic situation. Strategic risks include the risks of loss of throughput and reduction of revenue due to macroeconomic and geopolitical conditions. The macroeconomic and geopolitical conditions are reported in more detail in Section 13.1 ‘Forecasts of the economic environment in 2024’.
The impact of the conflict in Israel and Gaza on global supply chains will depend mainly on the escalation and duration of the conflict. Israel is most involved in the electronics (semiconductors), healthcare and defence supply chains. For the Port of Koper, the greatest danger would be the extension of the conflict to Egypt and a possible prolonged blockade of the Suez Canal, which would jeopardize the entire transhipment on the Koper-Far East route, especially the container terminal, the car and Ro-Ro terminal, and the general cargo terminal. The situation in logistics and supply chains in 2024 has been further worsened with the start of the Red Sea attacks, affecting all stakeholders in logistics and the final customers of goods in industrial production who depend on maritime transport through the Suez Canal. Customers from Austria, Czechia and other Central European markets could be
| Strategic risks (n=44) | Operational risks (n=111) | Financial risks (n=11) | Compliance risks (n=38) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 1 | 2 | 3 | 4 |
diverted to Northern European ports in the event of a prolonged conflict. Due to the diversion of ships around Africa, some shipping services from the Far East experienced delays in the arrival of ships due to a longer transit time - on average by 10 to 14 days - and the delay also indirectly affects ships that transport cargo in the Mediterranean via transhipment ports.
The Russia-Ukraine conflict has no significant impact on the Company's strategic orientations and objectives. Due to the small scale of operations in the affected region and the consequent low exposure to it, the aggravating circumstances do not have a material impact on the Group’s operating result. There has been no impact on the employees of the Luka Koper Group as the Group has no representatives in the affected regions.
The Group also faces market risks arising from a highly competitive environment and the entry of shipowners and logistics operators into the ownership of nearby port terminals, which may lead to a redirection of part of the cargo to be transhipped. Neighbouring ports also pay considerable attention to boosting competitiveness in rail connections. In recent years, warehousing capacities have been developed in the vicinity of the Port of Koper, in which mainly freight forwarding companies offer CFS services. These can turn out to be the Port’s competitors, especially in the segment of loading and unloading containers. On 7 January 2021, Hafen und Logistik AG (HHLA) finalised the process of purchasing a 50.01-percent share in Piattaforma Logistica Trieste in the Port of Trieste. The transhipment activity in the general cargoes, Ro-Ro and container segment will be performed by HHLA PLT Italy. The Management Board of the Port of Rijeka Authority has decided that for the next 50 years, APM Terminals/Enna Logic, owned by the shipping company AP Moller – Maersk, will be the concessionaire of the container terminal.
These risks are managed by increasing capacities, constructing the second railway track, and implementing envisaged process improvements through various projects. In 2024, investment projects will continue to be implemented, aimed primarily at increasing the capacity of the container terminal, the car terminal and the general cargo terminal. Nevertheless, the major risk associated with the realisation of investments remains, as an intense investment cycle is planned in the coming period. In this regard, the emphasis will have to be on obtaining approvals in due course for the next set of strategic investments. The risk of delays is also posed by the repetition of procurement procedures arising from overruns in the value of the funds secured due to the rise in the prices of certain raw materials. The identified strategic risks include the risk of not achieving the digital transformation objectives. The risk of timely delivery of investment and other projects is managed through project management and a new Project Office unit established at the end of 2023, as well as continuous training of staff in various fields.
The main strategic risks stemming from the external environment remain the obsolescence and insufficient capacity of the existing railway network and the possibility of prolonged disruptions on the railway track to the Port of Koper, which could affect further growth in transhipment and the development of the Port of Koper. The construction of the second Divača-Koper railway track will contribute to increasing the capacity and reliability of the rail link to the port, which can only be fully exploited if the railway junction in front of the Port of Koper is upgraded at the same time. In 2024, the working group that took on the implementation of measures of the Transcare study to improve IT support, and perform infrastructure interventions and organisational changes, will continue to work. The share of transhipments leaving the port by road has been increasing since 2018.
The company recognises climate risks, which include the impacts of the company's activities on climate change and the impacts of external climate change on the company's business, which can have a significant impact on the company's financial performance. The highest assessed risks are the transition risk, i.e. the risk of tightening environmental policy requirements at EU and Slovenian level, and the physical climate risk, i.e. the risk of storms and extreme weather events, as their frequency and intensity have been increasing. At the end of 2023, the company adopted the 2024-2028 Strategic Business Plan, setting out its strategic objectives for the green transition and all the key projects to be implemented during this period. Projects are integrated annually into business plans, with business improvement programmes planned in line with the internal documents of the management system.
Operational risks cover a wide range of the company's operations. A large portion of this comprises risks, the realization of which is reflected in injuries to people and/or impacts on the environment and property.
Risks related to occupational safety are managed by preventive measures based on workplace risk assessment, training and verification of knowledge, consistent use of personal protective equipment, defined and communicated technological procedures and working instructions that are regularly updated, development of suppliers, continual measurements of workplace conditions, and regular medical examinations. Other measures reducing risks of damage or injury include new investments in modern equipment, regular maintenance of work equipment and infrastructure, and regular measurements of impacts on the environment. Any negative impacts arising from an industrial accident are managed through periodic fire risk assessments, the implementation of recommendations resulting from external and internal inspections and the establishment of its own fire department. The financial consequences of potential events are mitigated by appropriate insurance policies. The plan for 2024 contains an upgrade the information system for recording and handling extraordinary events in the port, which will enable further processing of events by subject-specific experts, event research, taking action, statistical processing and systematic monitoring of indicators.
Purchase risks related to changes in the prices of key purchasing materials are managed by electricity futures leases, by determining fixed purchase prices for the duration of the contract, harmonising sales prices with the inflation rate, implementing measures to increase the efficient use of energy and systematically increasing own electricity production through solar power plants on buildings. Risks related to the maintenance and ensuring the smooth operation of processes related to the transhipment of goods are managed centrally in the maintenance department within the area of investments, namely through annual and, in certain segments, multi-annual planning, the implementation of maintenance work and preventive inspections, with a central warehouse for spare parts and timely deliveries of spare parts. The risk of insufficient port flow is controlled by a gradual transition to paperless operations in accordance with the adopted 2024-2028 Strategic Business Plan. On the basis of a traffic study carried out in 2023, proposals for investment projects and measures to restrict access to the port will be prepared. Adequate use of labour force is ensured through the appropriate allocation of workers between the profit centres, and information systems for planning and monitoring the port's operational work are being upgraded.
The risk of information security is also shown among the operational risks, but following the measures and control activities taken, it is assessed as moderate, and considered to be managed to an acceptable level. Given the importance of this area, identified by the GRI materiality analysis, the way in which these risks are managed is presented in Chapter 28 ‘Information Systems Security’.
Financial risks are those that affect the viability of the planned financial categories, primarily the planned future cash flows, and are usually controlled in the process of asset and liability management.
The Group does not currently identify financial risks as key risks; however, the highest rated risk among all financial risks is the fair value risk. As at 31 December 2023, 7.8 percent of the Group’s assets were invested in financial investments measured at fair value. Due to the strategic orientation of investing in the development of core business, the Group's portfolio management only involves managing the existing assets. The Group manages this risk by monitoring the situation in the financial markets and their impacts on the portfolio, while active management brings high return on investment.
Management of the fair value risk and other financial risks that include the interest rate risk, liquidity risk, foreign exchange risk, credit risk and risk of adequate capital structure are assessed as moderate, less important or even irrelevant. Control of these risks is presented in detail in the Accounting Report of Luka Koper, d. d., Note No. 32: ‘Financial instruments and financial risk management’.
In September 2023, the EU adopted Regulation 2023/1805 of the European Parliament and of the Council on the use of renewable and low-carbon fuels in maritime transport, and amending Directive 2009/16/EC, and simultaneously repealed Directive 2014/94/EU (Directive on the deployment of alternative fuels infrastructure). The new Regulation requires EU Member States to ensure a minimum on-shore power supply for container ships and cruise ships in ports by 31 December 2029 at the latest. Luka Koper, d. d., and ELES, d. o. o. are carrying out procedures to obtain spatial-environmental and project documentation for the elaboration of a national spatial plan for the Luka Koper substation and the connecting line to the port, which are necessary for the supply of electricity to ships.
Reduction action plan, which includes a gradual switch to electrically powered technological equipment. As at 1 January 2023, the company has a voluntary Environmental Ship Index (ESI) scheme, which ports use to attract more ships with state-of-the-art engines and cleaner propulsion systems, or to reduce atmospheric emissions by rewarding cleaner and more environmentally friendly ships through lower port dues.
In 2024, activities will probably be concluded that are necessary to ensure compliance with the Rules on Explosion Protection (Official Gazette of the Republic of Slovenia, No. 41/2016). The Rules specify the requirements to be met by equipment and protective systems intended for use in potentially explosive atmospheres. These are mainly used at the bulk and liquid cargo terminal.
With the adoption of the Environmental Protection Act (ZVO-2), which entered into force in April 2022, the deadlines for adapting to the new requirements started to run. The company prepared a plan and started implementing activities to adapt operations to all the additional requirements.
The risk of insufficient areas for disposal of marine sediments or sludge from dredging and seabed maintenance is also recognised. On the basis of the Decree on the Maritime Spatial Plan Slovenia, Luka Koper, d. d., carries out all the necessary activities to carry out a test transfer of sludge with the long-term goal of moving the materials excavated during the seabed dredging back into the sea in the future. This is a sustainable approach, which is also used by other ports around the world, and will allow the port to continue to develop and adapt its infrastructure to accommodate larger and larger ships with greater draughts, in line with global trends in maritime transport.
On land, the construction of cassettes for the disposal of sludge is foreseen in the area of the Ankaran bonifika, which is also earmarked for port expansion under the National Spatial Plan. The necessary documentation for these interventions is being prepared.
The risk of compliance with labour legislation is managed by regular monitoring of changes in legislation, the implementation of these changes in the systems and processes of the Luka Koper Group, and in the event of any identified non-compliance, remedial measures are prepared and implemented in dialogue with the trade unions and the other social partners.
In the area of fraud and corruption risk, Luka Koper d. d., started the implementation of the ISO 37001:2016 Anti-Bribery Management System standard in 2023, which was completed in the first quarter of 2024. The system is described in more detail in Chapter 27 ‘Corporate Integrity and Compliance, Protection of Personal Data and Human Rights’.
The share of Luka Koper, d. d., is listed on the Ljubljana Stock Exchange, Prime market, under the symbol LKPG. At the end of 2023, it closed trading at 30.2 percent higher than the previous year-end. On the last trading day of 2023, the price per LKPG share was EUR 32.3.
As at 31 December 2023, 8.963 shareholders were entered in the shareholder register, which was 162 more than in 2022. The Republic of Slovenia remains the largest shareholder.
| Shareholder | Number of shares as at 31 Dec 2023 | Ownership interest as at 31 Dec 2023 | Number of shares as at 31 Dec 2022 | Ownership interest as at 31 Dec 2022 |
|---|---|---|---|---|
| Republic of Slovenia | 7,140,000 | 51.00% | 7,140,000 | 51.00% |
| Slovenski državni holding, d. d. | 1,557,857 | 11.13% |
| Shareholder | Number of shares as at 31 Dec 2023 | Ownership interest as at 31 Dec 2023 | Number of shares as at 31 |
|---|---|---|---|
| Kapitalska družba, d. d. | 1,557,857 | 11.13% | 696,579 |
| Municipality of Koper | 439,431 | 3.14% | 439,431 |
| OTP Banka, d. d. – fiduciary account | 372,231 | 2.66% | 289,966 |
| Citibank N.A. – fiduciary account | 259,290 | 1.85% | 309,274 |
| Hrvatska poštanska banka, d. d. – fiduciary account | 150,082 | 1.07% | 150,182 |
| Zagrebačka banka, d. d. – fiduciary account | 131,318 | 0.94% | 131,374 |
| Raiffaisen Bank International AG | 75,100 | 0.54% | 133,236 |
| RA-projekt.si, d. o. o. | 45,812 | 0.33% | 45,812 |
| Total | 10,867,700 | 77.63% | 10,893,711 |
| Entity | Ownership Interest | Previous Ownership | Percentage | Previous Percentage |
|---|---|---|---|---|
| Republic of Slovenia | 7,140,000 | 7,140,000 | 51.00% | 51.00% |
| Individuals | 2,478,239 | 2,389,601 | 17.70% | 17.07% |
| Slovenian Sovereign Holding | 1,557,857 | 1,557,857 | 11.13% | 11.13% |
| Fiduciary accounts with banks | 1,049,117 | 1,008,891 | 7.49% | 7.21% |
| Kapitalska družba | 702,568 | 702,568 | 5.02% | 5.02% |
| Legal entities | 468,085 | 447,664 | 3.34% | 3.20% |
| Municipality of Koper | 439,431 | 439,431 | 3.14% | 3.14% |
| Foreign banks | 75,100 | 147,238 | 0.54% | 1.05% |
| Mutual funds | 74,266 | 136,004 | 0.53% | 0.97% |
| Brokerage companies | 10,462 | 10,462 | 0.07% | 0.07% |
| Banks | 4,359 | 15,939 |
The average daily price of the Luka Koper, d. d., share amounted to EUR 29.58 in 2023. During the year, its value fluctuated between EUR 24.90 and EUR 34.80. The highest market price of the share was EUR 35.00 and the lowest EUR 24.20. Market cap of Luka Koper, d. d., shares as at 31 December 2023 was EUR 452,200,000.
In 2023, the total number of stock-exchange transactions and deals with lots for the LKPG share was 2,570. Total turnover in the period amounted to EUR 14,840,279, whereby 494,856 shares changed owners.
| Year | 2023 | 2022 |
|---|---|---|
| Number of shares | 14,000,000 | 14,000,000 |
| Number of ordinary no-par value shares | 14,000,000 | 14,000,000 |
| Share price on the last trading day (in EUR) | 32.30 | 24.80 |
| Book value per share as at 31 Dec (in EUR) | 36 | 36.10 |
| Price-To-Book (P/B Ratio) | 0.89 | 0.72 |
| Earnings per share (EPS) (in EUR) |
| 39 | 8.30 | 4.74 |
|---|---|---|
| 40 | 452.20 | 347.20 |
|---|---|---|
| 14.84 | 17.93 |
|---|---|
| 41 | 2.50 | 1.14 |
|---|---|---|
| 42 | 7.74 | 4.60 |
|---|---|---|
In August 2023, the Company's Management Board and Supervisory Board adopted the Company's dividend policy, in line with which the Company aims to balance shareholders' expectations of reasonable dividend yields and the Company's aspiration to use its accumulated profit to finance its development and sustainability plans, thereby ensuring the long-term success and stability of its business.
The dividend is based on the sufficient amount of the company's accumulated profit. The company's Management Board and Supervisory Board propose, as a rule, that up to 50 percent of the net profit be used to pay out dividends. Any remaining accumulated profit is expected to remain unallocated.
As at 31 December 2023, Luka Koper, d. d., did not hold an interest of at least 5 percent in any company which owns shares of Luka Koper, d. d. The shareholders holding at least 5 percent of the LKPG shares are the Republic of Slovenia (51.00 percent) and the Slovenian Sovereign Holding (11.13 percent).
Book value per share = equity / number of shares.
Price-To-Book (P/B Ratio) = closing price / book value of the share.
Earnings per share (EPS) = net earnings / number of shares.
Current share price to earnings per share (P / E) ratio = closing price / earnings per share (EPS).
Market capitalization = closing price * number of shares.
Dividend per share = balance sheet profit used to pay dividends / number of ordinary shares.
Dividend yield = dividend per share / closing price
| Shareholder | Ownership | 31 Dec 2023 |
|---|---|---|
| Rok Parovel, Member of the Supervisory Board | 8 |
| Shareholder | Ownership | 1 Jan 2024 |
|---|---|---|
| Gorazd Jamnik, Member of the Management Board | 10 |
As at 31 December 2023, other Members of the Supervisory Board and the Management Board held no shares of the Company.
As at 31 December 2023, Luka Koper, d. d., held no own shares. The applicable Company’s articles of association do not provide for categories of authorised capital up to which the Management Board could increase the share capital. The Company also had no basis for conditional increase in the share capital.
According to the recommendations of the Ljubljana Stock Exchange, Luka Koper, d. d., adopted the Rules on Trading in Issuer’s Shares, which is an additional guarantee to keep the interested public equally informed on all significant business events, and is an important element in strengthening the confidence of investors and the reputation of Luka Koper. The purpose of the Rules is to enable the persons subject to it trading in shares of the Company and to prevent any possible trading based on insider information. At the same time, the Rules enable mandatory reporting on the sale and purchase of the Company’s shares to the Securities Market Agency in accordance with the law.
Luka Koper, d. d., communicates with its investors regularly and keeps them informed on Company news through various communication tools and channels:
Each year, the company participates in meetings with investors organised by the Ljubljana and Zagreb Stock Exchange, which take the form of individual meetings. Information for investors is available at https://luka-kp.si/eng/lkpg-share.
A special chapter on the website headed “For Investors” is devoted to shareholders and investors; there, they can find up-to-date information regarding the LKPG share, ownership structure, current interim, annual and past operating reports, information published on SEO-net, material for General Meetings of Shareholders, and answers to most frequently asked questions regarding shares.
Each month, brokerage companies and analysts are sent a copy of the Port Bulletin, which also covers other issues related to operations of the company and developments in the port.
Once a year, in the period prior to the General Meeting of Shareholders, Luka Koper, d. d., issues the Port Shareholder, a publication focusing on business results of the previous year, which is sent to all the shareholders.
Rok Štemberger
Investor Relations
Phone: (00) 386 (0)5 66 56 140
E-pošta: [email protected]
Periodic publications and other price sensitive information will be published on the Ljubljana Stock Exchange website via the SEO-net electronic information system (www.ljse.si) and on the website of Luka Koper, d. d., https://www.luka-kp.si/en/investors/financial-calendar/. Any changes to expected dates of individual releases will be duly communicated through our website.
Luka Koper's commitment to sustainable development is a guarantee that its future development will be friendly to local residents, the natural environment, and its employees.
The sustainability report of Luka Koper, d. d., and the Luka Koper Group meets all the terms determining the publication of a non-consolidated and consolidated non-financial statement. In line with the Companies Act (ZGD-1), the Sustainability Report of Luka Koper, d. d., and the Luka Koper Group for 2023 takes into account the requirement to publish a statement on non-financial operations as set out in the provisions of Article 56, paragraph 12, and Article 70c of the Companies Act. The Sustainability Report of Luka Koper, d. d., and the Luka Koper Group also complies with the requirements of the ‘Guidelines on non-financial reporting (methodology for reporting non-financial information)’, which were adopted and published in the Official Journal of the European Union in July 2017, and follows the provisions of the ‘Directive on disclosure of non-financial and diversity information by certain large undertakings and groups’ and provisions of the ‘Taxonomy Regulation’ (EU) 2020/852.
The Sustainability Report of Luka Koper, d. d. and the Luka Koper Group covers the management of impacts according to ESG sustainability aspects:
The 2023 report has been prepared in accordance with the GRI Global standards for sustainability reporting, specifically, the revised standards (Foundation 2021), effective from 1 January 2023. In devising the report and defining the material content, the following was used:
Reporting refers to the Luka Koper Group. For certain topics that have not yet been implemented at Group level, it is stated specifically to which company or companies of the Group they apply. Data has not changed from previous reports. The changes with respect to 2022 relate to changes in the ownership of Adria Investicije, d. o. o. (reported in detail in Section 7.2 ‘Organisation of the Luka Koper Group and associates’) and changes in the management of the company (reported in detail in Section 4.6 ‘The Management Board of Luka Koper, d. d.’).
GRI 2-4
In collecting data and composing the 2023 Sustainability Report, the following reporting principles were taken into account:
The Luka Koper Group has been reporting on sustainability on an annual basis since 2000, with the first GRI-compliant sustainability report being produced for the 2017 financial year. The Sustainability Report is prepared each year for the same reporting period as the business report and financial statements, i.e., for the calendar year starting on 1 January and ending on 31 December. The preceding sustainability report was prepared for 2022 and made public on 14 April 2023. The 2023 report is prepared in accordance with the revised GRI standards (Foundation 2021). In the spirit of commitment to sustainable development, the Luka Koper Group has upgraded the contents of the 2023 sustainability report regarding the recognised materiality and will continue to do so in the future. The 2023 Sustainability Report will be made public in the context of the 2023 Annual Report on 18 April 2024. The GRI organisation will also be informed about the publication of the Sustainability Report for 2023 in April 2024.
The Sustainability Report is part of the 2023 Annual Report of the Luka Koper Group and is available at:
https://luka-kp.si/eng/annual-reports
Additional information on sustainability activities is available at:
www.zivetispristaniscem.si
Contact person for information on the Sustainability Report:
T: +386 5 665 61 00
Background information on the report is presented in the first chapters of the Sustainability Report, while information on the Luka Koper Group is presented in Chapter 7, ‘Presentation of the Luka Koper Group and description of the business model’, which puts the Group in a broader sustainability context and outlines its sustainability management. In subsequent chapters, the Luka Koper Group reports on its operations in important areas of sustainable development in 2023 on the basis of the previously identified material topics. The GRI indicator number in the footer connects GRI indicators with the text.
In March 2023, Luka Koper, d. d., concluded a three-year contract for the external verification of the sustainability report with SIQ Ljubljana, an independent institution that is not connected to Luka Koper, d. d. The sustainability report for the year 2023 was thus submitted to SIQ Ljubljana for external verification of reporting in accordance with the GRI standards (Foundation 2021). The recommendations of the GRI external audit from 2023 were taken into account in preparing the 2023 report. SIQ Ljubljana issues a verification report on the verification of the sustainability report with a declaration forming part of this report. The management of Luka Koper, d. d., was not involved in the external verification of the sustainability report.
GRI 2-3
GRI 2-5
In line with the requirements of the GRI Standards, in 2023, Luka Koper reviewed the material topics identified in the 2022 Annual Report and took into account the changes in impacts in the four steps of the material topic identification process:
Luka Koper documented the process of determining the material topics of reporting in the 2023 Annual Report and the identified changes in impacts compared to 2022. The Management Board, which approved the 2023 set at its meeting on 12 December 2023, and the Supervisory Board, which approved the 2023 set at its meeting on 18 December 2023, were also involved in the process of defining the material topics of reporting and the set of identified impacts and material topics to be reported.
As part of understanding the organisation’s context, the following was done:
Luka Koper is all the people in any way connected to the port. With its activity, the port of Koper affects various groups of people who, in turn, themselves affect the port’s operation. Stakeholders of Luka Koper are defined and recognized in the Corporate Governance Policy of Luka Koper, d. d., which is available on the website Corporate documents - Luka Koper d. d. (luka-kp.si), and in the framework of individual business processes of the Company.
GRI 2-12, 2-13, 2-14, 2-16, 2-29, 3-1, 3-2
| Stakeholder Group | Communication tools | Frequency of engagement |
|---|---|---|
| SHAREHOLDERS | Website SEOnet Gatherings General Meeting Annual report Investor conferences Port Bulletin Port Shareholder Press conferences Upon publishing business reports and, if necessary, upon meetings with the investor audience | |
| CUSTOMERS AND OTHER MEMBERS OF THE PORT COMMUNITY | Website TinO business information system Notifications and other service messages Telephone contacts Personal contacts Fairs and conferences Organisation of target business events Customer satisfaction survey Port Bulletin LinkedIn Port Days Gatherings Daily communication via networks, if necessary, through personal contacts | Survey every two years, Port days once a year, conferences, fairs, target business events |
| PUBLIC AUTHORITIES | Web portals Reports | Regularly |
| SUPPLIERS | ‘Best Supplier’ event PSP portal | Daily |
| EMPLOYEES | Survey on employee satisfaction Port Bulletin Quality teams Chat room Intranet Meetings Gatherings Evaluation of managers |
| Activities of the Luka Koper Group | Impact on stakeholders |
|---|---|
| Carrying out cargo handling port operations | Employees |
| Carrying out maritime passenger traffic | Public authorities |
| Port management and administration | Customers, port community |
| Management and development of port infrastructure not intended for public transport | Suppliers |
| Carrying out public utility service of regular maintenance of the port infrastructure intended for public transport | Environmental organisations |
| Carrying out public utility service of collecting of waste from vessels | Social environment |
| Logistics services and distribution | Shareholders |
| Mooring/unmooring of ships | |
| Technological and ecological research |
The impacts of the organisation on the economy, the environment and people, including impacts on their human rights, have been identified based on a review of activities, business relationships, sustainability context, recognised impacts on stakeholders, documents (adopted policies, strategies, codes, regulations, rules of procedure, statements, guidelines, etc.) and information from legal and other reviews, inspections, stakeholder initiatives, complaints mechanisms, risk management and public announcements. The identified impacts included actual and potential as well as negative and positive impacts.
Criteria have been set and impact assessments have been carried out by the company, based on the requirements of the GRI standards. The financial impact was also assessed under the size and breadth of impact criterion. All impacts were assessed on a scale:
| Stakeholder Group | Participation | Number of completed questionnaires |
|---|---|---|
| SHAREHOLDERS | YES | 9 questionnaires completed |
| CUSTOMERS AND OTHER MEMBERS OF THE PORT COMMUNITY | YES | 24 questionnaires completed |
| PUBLIC AUTHORITIES | YES | 3 questionnaires completed |
| SUPPLIERS | YES | 6 questionnaires completed |
| EMPLOYEES | YES | 2 questionnaires completed |
| SOCIAL ENVIRONMENT | YES | 4 questionnaires completed |
| ENVIRONMENTAL ORGANISATIONS | YES | 4 questionnaires completed |
Annual report 2023 93
The importance of content increases with colour - the darker the colour, the more important the content.
| IMPACTS | ESG | SHAREHOLDERS | SUPPLIERS | SOCIAL ENVIRONMENT | PUBLIC AUTHORITIES | CUSTOMERS AND OTHER MEMBERS OF THE PORT COMMUNITY | ENVIRONMENTAL ORGANISATIONS | EMPLOYEES |
|---|---|---|---|---|---|---|---|---|
| Occupational safety and health | S | |||||||
| Fire, explosion | E | |||||||
| Wastewater generation | E | |||||||
| Spills of hazardous substances | E | |||||||
| Waste management | E | |||||||
| Dust emissions into the atmosphere | E |
Materiality matrix - identified impacts assessed by Luka Koper and by stakeholders, showing changes compared to 2022. The impacts coloured blue were newly identified in 2023, relative to those identified in 2022. The materiality threshold has been set at the same level as in 2022, at a score greater than or equal to 2.0. For stakeholder importance, the average of all stakeholder ratings is calculated. The importance for Luka Koper was assessed by the Company's management and the working group.
GRI 3-2
| Issue | Type | 2023 | 2022 |
|---|---|---|---|
| Occupational safety and health | S | 2.9 | 3.0 |
| Fire, explosion | E | 2.8 | 2.0 |
| Wastewater generation | E | 2.8 | 2.0 |
| Spills of hazardous substances | E | 2.8 | 1.0 |
| Waste management | E | 2.8 | 3.0 |
| Dust emissions into the atmosphere | E | 2.8 | 3.0 |
| Noise emissions | E | 2.8 | 3.0 |
| Energy consumption | E | 2.7 | 2.0 |
| Business compliance and corporate integrity, compliance with laws | G | 2.7 | 3.0 |
| Marine pollution | E | 2.7 | 2.0 |
| Information Systems Security | G | 2.7 | |
| Human rights, discrimination and diversity | G | 2.7 | 3.0 |
| Dispersal of material outside the port | E | 2.7 | 1.0 |
| Risk of serious injury at work | S | 2.7 | 3.0 |
| Drinking water consumption | E | 2.7 | 2.0 |
| Inability to provide (timely) services to customers (IT system downtime, delays in service delivery, weather restrictions, strikes, etc.) |
| S | 2,7 | 2,6 | 2,0 | 1,0 |
|---|---|---|---|---|
| S | 2,7 | 2,7 | 2,5 | 2,0 |
|---|---|---|---|---|
| G | 2,7 | 2,5 |
|---|---|---|
| S | 2,7 | 2,7 | 3,0 | 3,0 |
|---|---|---|---|---|
| E | 2,6 | 2,7 | 2,0 | 2,0 |
|---|---|---|---|---|
| S | 2,6 | 2,5 | 2,0 | 2,0 |
|---|---|---|---|---|
| E | 2,6 | 2,8 | 2,0 | 1,0 |
|---|---|---|---|---|
| G | 2,6 | 2,6 | 2,5 | 3,0 |
|---|---|---|---|---|
| E | 2,6 | 2,7 | 3,0 | 3,0 |
|---|---|---|---|---|
| G | 2,6 | 2,4 | 2,5 | 3,0 |
|---|---|---|---|---|
| S | 2,5 | 3,0 |
|---|---|---|
| S | 2,5 | 2,6 | 1,5 | 1,0 |
|---|---|---|---|---|
| S | 2,5 | 2,2 | 3,0 | 3,0 |
|---|---|---|---|---|
| S | 2,5 | 2,6 | 2,5 | 3,0 |
|---|---|---|---|---|
| S | 2,4 | 2,5 | 2,5 | 2,0 |
|---|---|---|---|---|
| G | 2,3 | 2,3 | 2,5 | 3,0 |
|---|---|---|---|---|
| S | 2,3 | 2,3 | 2,0 | 2,0 |
|---|---|---|---|---|
| S | 2,3 | 2,6 | 2,0 | 1,0 |
|---|---|---|---|---|
| G | 2,3 | 2,2 | 2,5 | 3,0 |
|---|---|---|---|---|
| G | 2,2 | 2,3 | 3,0 | 3,0 |
|---|---|---|---|---|
| G | 2,2 | 2,3 | 2,5 | 3,0 |
|---|---|---|---|---|
| G | 2,2 | 2,3 | 2,5 | 3,0 |
|---|---|---|---|---|
| G | 2,1 | 2,0 |
|---|---|---|
| G | 2,1 | 1,9 | 3,0 | 3,0 |
|---|---|---|---|---|
| G | 1,8 | 1,8 | 1,5 | 1,0 |
|---|---|---|---|---|
Based on the impacts identified and assessed by the Company and stakeholders, the Company has identified 24 material topics for reporting in the 2023 Sustainability Report, with the changes shown in relation to 2022:
According to previous reporting, the following changes in the reporting of material topics occurred in 2023:
| ASPECT | Highest score |
|---|---|
| E – ENVIRONMENTAL | |
| Waste management | 3.0 |
| Emissions into the environment | 3.0 |
| Fire safety | 2.5 |
| Resource use and climate transition | 2.5 |
| Drinking water consumption and effluents | 2.5 |
| Biodiversity | 2.0 |
| S - SOCIAL VIEW | |
| Occupational safety and health | 3.0 |
| Quality of service delivery | 3.0 |
| Digitisation | 3.0 |
| Employment | 3.0 |
| Employee engagement | 2.5 |
| Training and education | 2.5 |
| Socially responsible activities | 2.5 |
| Quality of services delivered | 2.0 |
| Benefits for employees | 2.0 |
| Cooperation with educational institutions | 2.0 |
| G – GOVERNANCE | |
| Business compliance and prevention of corruption | 3.0 |
| Human rights, discrimination and diversity |
In relation to sustainable development, the Luka Koper Group has adopted various policies, strategies, codes, rules, rules of procedure and statements that address all areas of business:
The following strategy documents were in force in 2023:
At the end of 2023, a new Strategic Business Plan for the period 2024-2028 was adopted, which also included a digital transformation strategy for the transition towards the smart port concept.
responsibility to ensure that the policy is up-to-date and consistent with the company's vision, mission, values and ethics, and to take into account all relevant aspects of the internal and external environment. Policies can change when it is assumed with a high degree of certainty that changes will take place in the context of the organisation, i.e., important aspects of its internal and external environment.
The Management Board of the Company controls the management of sustainable development by reviewing, updating, adopting, and confirming the above-mentioned documents, in particular the Sustainable development and social responsibility strategy of Luka Koper, d. d., which is published on the website Živeti s pristaniščem - Poročila in dokumenti (zivetispristaniscem.si) and will be updated in 2024.
GRI 2-12, 2-13, 2-14, 2-17, 2-23, 2-24, 2-25, 3-3
Sustainability reporting is done regularly through monthly, quarterly and annual reports, which are presented to the Management Board at its meetings. Annual Reports of the Luka Koper Group and Luka Koper, d. d., including the Sustainability Report, are published on the website Annual Reports - Luka Koper d. d. (luka-kp.si), after prior approval by the Management Board and the Supervisory Board at their regular meetings, where the competent departments present the contents.
Professional support in terms of content and in managing the recognised impacts of sustainable development is provided to the Company's Management Board and Profit Centres by individual specialised departments, organised by the area of expertise, from fundamental management functions to specialist knowledge required to carry out specific activities. Luka Koper, d. d., has also adopted an internal act governing the delegation of powers to a lower level. The powers themselves and their delegation, or the extent of the powers delegated by the Management Board to the staff, which includes in particular heads of organisational units and authorised representatives, are also regulated in the employment contract, the job description and the powers conferred by the Management Board as soon as the employees take up these functions. In addition, individual powers are granted for individual areas and specific positions of authorised representatives in the company, specifying the content of the authorisation, its scope and duration.
A Management Representative for Environment and Occupational Health and Safety and an Environmental Protection Officer are appointed to implement the programmes and achieve the objectives in the field of environmental protection and occupational health and safety. In Luka Koper, the area of corporate integrity is overseen by the Corporate Integrity and Operations Compliance, Protection of Personal Data and Human Rights Officer and the Corporate Integrity Violations Committee. A Risk and Opportunities Management Officer has been appointed for the risks and opportunities management system, and a Register of Risks and Opportunities has been established, including opportunities to achieve strategic objectives while taking into account the highest standards of sustainable development.
Significant impacts on the Company's business in terms of negative impacts on stakeholders are communicated to the Management Board and the Supervisory Board through the submission and consideration of regular reports: on risk management, of violations of corporate integrity, compliance, occupational health and safety, environmental protection, fire safety, etc.
The design of the management system for the prevention of corruption and operations compliance and the implementation of planned activities in subordinate processes is reviewed by the Operations Compliance Officer. It prepares a report on the inspections, which is communicated to the company's Management and Supervisory Boards. The Management Board regularly reviews the effectiveness of the system to compare the planned and achieved targets and determine the necessary measures for improvement. It provides qualified personnel and the necessary resources for the operation of the system and ensures that internal audits are carried out. The functioning of the system is reviewed regularly by the Supervisory Board in the context of the reports it receives.
With regard to the management of non-conformities, this process is further specified in internal non-conformity management rules, while service and process improvements are planned on the basis of the adopted corporate policy, the vision and business objectives, customer requirements, self-assessments and audit findings, improvement proposals, as well as data analysis and management review.
The Management Board is kept informed of information on sustainable development through the quarterly work programmes, various reports, and management review prepared by relevant staff and authorities, and through the adoption of measures to improve the management of sustainable development.
The management of the company also receives regular training in the field of sustainable development. In 2023, a member of the Management Board - Worker Director - completed 63 hours of sustainability training. Members of the Management Board are enrolled in the Leadership Academy training, most of the modules of which will be delivered in 2024 and are also invited to the e-learning content of the Knowledge Room.
Sustainable development is development that meets the needs of society without compromising the needs of future generations. Sustainability in the maritime industry means ensuring safe, efficient and reliable transport of goods while reducing environmental impacts and increasing resource efficiency (IMO, 2013). Sustainable ports are those ports that, in accordance with their sustainable strategic orientations and activities, meet the current and future needs of ports and their stakeholders, while protecting and conserving human and natural resources (AAPA, 2007).
Luka Koper, d. d., operates a port that is surrounded by residents on two sides, and by natural environment of special importance (Natura 2000) in its hinterland, whereas its external face is embraced by the vulnerable marine ecosystem. Due to its location, it has been seeking to improve the quality of life in the entire area in which the port is situated for a number of years. In its operations and development issues, Luka Koper takes into account the principles of sustainable development and responsible environmental management, with sustainable development being one of the key strategic directions of the Group. The Sustainable Development and Social Responsibility Strategy of Luka Koper, d. d. is the umbrella document for the management of social responsibility and sustainable development. The document is published on the website Živeti s pristaniščem - Poročila in dokumenti (zivetispristaniscem.si) and will be updated in 2024.
Being aware that the port is an important sustainable development stakeholder whose impacts on the environment and society may be both positive and negative, the Luka Koper Group has decided to accede to addressing global sustainable development goals in the context of comprehensive sustainability reporting. Sustainable Development Goals (SDG) have been adopted by all United Nations member states, their purpose being to pursue the development of the entire society, economy, science and civil society – which will play an important role in reaching the key objectives of the entire Company by 2030. The United Nations Sustainable Development Goals and strategic orientations have been set out by the Republic of Slovenia in the Slovenian Development Strategy 2030.
| Development policy of the Republic of Slovenia 2030 | Sustainable Development Goals | Sustainable guidelines of the Luka Koper Group |
|---|---|---|
| Protection of dignity and equal treatment regardless of gender, age, racial, religious, national, social, political affiliation, marital status, financial status, sexual orientation and other personal circumstances. | Respect for human rights. | Healthy and safe working environment. |
Decent pay for work.
Healthy and active life of employees and the wider community.
Doing business in accordance with the law and high ethical standards.
Achieving good business results.
Providing competitive services with advanced technologies.
Promoting knowledge and skills for quality work.
Rational use of resources.
Achieving beneficial effects on the economy.
Educating and training of employees.
Supporting the education and employability of young people (scholarships, work placements) and people with disabilities, and providing quality jobs.
Promoting lifelong learning for the general public.
Care for the natural environment.
Sustainable management of natural resources.
Employee health promotion.
Low-carbon circular economy.
Sustainable development of the wider community.
Multi-stakeholder dialogue and cooperation.
Socially responsible projects and partnerships.
Transparency and business efficiency.
The sustainability guidelines of the Luka Koper Group are based on the United Nations sustainable development goals and the development orientations of the Republic of Slovenia until 2030.
Sustainable development goals mainly refer to Luka Koper, d. d., however, other Group companies also pursue them as per their areas of operation.
| Waste management | 19.9 Waste management |
|---|---|
| Emissions into the environment | 19.8 Emissions/immission from services |
| Noise emissions | 19.10 Noise emissions |
| Light pollution | 19.14 Light pollution |
| Sea water protection | 19.16 Sea water protection |
| Radioactivity of consignments | 19.18 Radioactivity of consignments |
| Fire safety | 19.7 Environmental risk management and emergency response |
At the end of 2023, a new 2024-2028 Strategic Business Plan for Luka Koper, d. d., and the Luka Koper Group was adopted, in which Luka Koper, d. d., set itself the objective of maintaining environmental sustainability standards (EMAS) and meeting sustainability reporting commitments, as well as reducing the company's carbon footprint through measures to increase energy efficiency and a greater share of renewable energy sources. A summary of the document is published on the company's website.
Major strategic environmental projects include:
The port area
The Koper port is a cargo port set in an integrated marine and coastal area, where port operations related to cargo as well as passenger transport are carried out. The port area is defined in the Concession Agreement for the performance of port activity, management, development and regular maintenance of the port infrastructure No 2411-08-800011 of 8 Sep 2008.
The environmental part of the sustainability report covers the data of Luka Koper, d. d., operating at the site of the port of Koper, for the period from 1 January 2023 to 31 December 2023. Where available, the results are shown for a three-year period, whereas older data is available in the reports linked below. It also contains annual comparisons of environmental indicators with the aim of showing environmental performance. The chapters in the sustainability report that provide verified environmental management information are indicated by the sign.
The data provide a credible and faithful reflection of the Company’s environmental management system. In March 2024, the SIQ Slovenian Institute of Quality and Metrology verified the assertions and established that the system meets the requirements of the Regulation (EC) No 1221/2009 (EMAS).
Previous Environmental reports are available in the following links:
Živeti s pristaniščem - Poročila in dokumenti (zivetispristaniscem.si)
https://www.luka-kp.si/eng/environmental-friendly-policy
EU Taxonomy Regulation
In accordance with the Taxonomy Regulation (Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088), which entered into force on 12 July 2020, and its annexes, and in accordance with Commission Delegated Regulation 2021/2178 of 6 July 2021 supplementing the Taxonomy Regulation and the guidelines of the Securities Market Agency (AVTP), both the Luka Koper, d. d., and the Luka Koper Group are obliged to publish key 2023 performance indicators derived from services linked to economic activities that can be considered sustainable. For the financial year 2023, Luka Koper, d. d., and the Luka Koper Group reports indicators for economic activities included in the EU taxonomy.
Most of the activities of the Luka Koper Group are currently not included in the scope of Annexes I and II to Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing the Taxonomy Regulation, nor in the scope of Annexes I, II, III and IV to Commission Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for determining whether that economic activity causes no significant harm to any of the other environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities. This means that most of the activities of the Luka Koper Group are currently not reportable under the EU taxonomy.
have been set at EU level (EU Regulation 2020/852):
where only for objectives Climate change mitigation (a) and Climate change adaptation (b), a Delegated Regulation (EU 2021/2139) has been adopted on technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation and adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives.
At the end of 2023, this was followed by Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for determining whether that economic activity causes no significant harm to any of the other environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities. For these reasons, Luka Koper Group reports below only those taxonomic activities that it identified in the Delegated Regulations.
In order to identify harmonised activities, the Luka Koper Group has carried out a comprehensive review of activities and determined, based on the available reporting attributes, which of them can make a significant contribution to these objectives.
While transhipment and warehousing are not identified as economic activities that significantly contribute to climate change adaptation and mitigation or other objectives in the EU taxonomy, the Delegated Regulation identifies a number of activities in the taxonomy, which the Luka Koper Group undertakes to adapt to and mitigate climate change and contribute to other objectives. By virtue of its own activities, the Luka Koper Group directly enables other activities (e. g. maritime, road and rail transport) to make a significant contribution to one or more of the environmental objectives set out in the Delegated Regulation.
As certain activities of the companies in the Luka Koper Group are currently not yet reportable under the EU taxonomy, the resulting shares of investments and costs are relatively small in relation to their total volume. No taxonomy related revenue is recognised in the Luka Koper Group at this time.
Luka Koper Group will continue to upgrade its reporting system in order to ensure full disclosures in accordance with the Taxonomy Regulation and to follow the reporting guidelines.
Under activity 4.1 ‘Electricity generation using solar photovoltaic technology’, the Luka Koper Group has included the activity of construction or operation of electricity generation facilities that produce electricity using solar photovoltaic technology, as solar power plants are being installed in line with its sustainability strategy. The electricity generated is entirely used for own consumption and therefore the Luka Koper Group does not derive any revenue from this activity. With regard to this activity, the Luka Koper Group reports on investments in the construction of solar power plants. The activity fully meets the criteria for a substantial contribution to climate change adaptation.
The activity 4.9 ‘Transmission and distribution of electricity’ includes the activity of construction and operation of transmission systems that transport the electricity on the high-voltage and extra high-voltage interconnected system, and the construction and operation of distribution systems that transport electricity on high-voltage, medium-voltage and low-voltage distribution systems, as the Luka Koper Group itself is investing in infrastructure which will be upgraded in the future to allow the connection of cargo and passenger ships to the electricity grid and, as a consequence, contribute significantly to the reduction of greenhouse gas emissions in the port area. In 2022 and 2023, this activity also includes the activity of installation of transmission and distribution transformers that comply with the Tier 2 requirements (from 1 July 2021) of Annex I of Commission Regulation (EU) No 548/2014 and, medium power transformers with highest voltage for equipment not exceeding 36 kV, with AAA0 level requirements on no-load losses set out in standard EN 50588-1, as two such systems were installed in 2022 and 2023.
The activity 5.2 ‘Renewal of water collection, treatment and supply systems’ includes renewals of water collection, treatment and distribution systems and also the infrastructure for water collection, treatment and distribution for domestic and industrial needs, since in the port area, the Luka Koper Group invests itself in drinking water supply infrastructure and contributes to reducing water losses and mitigating climate change through continuous upgrades. The activity fully meets the criteria for a substantial contribution to climate change adaptation.
This activity is taxonomically acceptable but not yet environmentally sustainable according to the criteria set, i.e. it is an activity not aligned with the taxonomy.
The Activity 6.2 ‘Freight rail transport’ is not included because the Luka Koper Group does not carry out the activities of purchasing, financing, leasing, renting and operating freight transport on mainline rail networks and short line freight railways using trains and wagons with zero direct tailpipe CO2 emissions when operated on tracks with the necessary infrastructure, or, where such infrastructure is not available, using a conventional engine (bimode) and not dedicated to the transport of fossil fuels. Also not included in this activity is the activity of moving trainsets within the port area, which are also carried out with a locomotive with zero CO2 emissions (from the tailpipe), as these are internal movements within the port, which are not considered as short line freight transport.
The activity covers the purchase, financing, rental, leasing and operation of vehicles classified in categories M1 (232) and N1 (233), which fall within the scope of Regulation (EC) No 715/2007 of the European Parliament and of the Council (234), or in category L (two- and three-wheel vehicles and quadricycles) (235). Electric vehicles and electric scooters were purchased in 2023. The activity fully meets the criteria for a significant contribution to climate change mitigation, as it produces 0 kgCO2e/km.
The Luka Koper Group does not report the activity 6.6 ‘Freight transport services by road’. Although the Luka Koper Group purchases, finances, leases, rents and operates vehicles classified as N1, N2 or N3, which fall within the scope of EURO VI, step E or its successor, the Luka Koper Group does not carry out transport with these vehicles by roads, only within the port (worksite) where there are no categorised roads.
The Luka Koper Group does not report activities 6.10 ‘Sea and coastal freight water transport, vessels for port operations and auxiliary activities’ because it does not carry out any activities of purchase, financing, chartering (with or without crew) and operation of vessels designed and equipped for transport of freight or for the combined transport of freight and passengers on sea or coastal waters, whether scheduled or not, and does not carry out the purchase, financing, renting and operation of vessels required for port operations and auxiliary activities, such as tugboats, mooring vessels, pilot vessels, salvage vessels and ice-breakers. While the Luka Koper Group has mooring vessels, they do not have zero direct CO2 (tailpipe) emissions or hybrid propulsion.
The Activity 6.16 ‘Infrastructure enabling low carbon water transport’ includes the construction, modernisation, operation and maintenance of infrastructure that is required for zero tailpipe CO2 operation of vessels or the port’s own operations, as well as infrastructure dedicated to transhipment with zero CO2 (tailpipe) emissions. Under this activity, the Luka Koper Group has included infrastructure designed for the operation of vessels with zero direct tailpipe CO2 emissions, i. e. infrastructure intended for electrical power supply and hydrogen refuelling. Infrastructure has been built in the port area to provide electrical power to tug vessels, electric RTGs at the Container Terminal and ship-to-shore cranes. In 2022, two electric ship-to-shore super postpanamax STS cranes and 3 electric RTG cranes were procured, representing equipment for the handling of cargo between different modes of transport, terminal infrastructure and superstructures for loading, unloading and handling of goods with zero CO2 emissions (from the tailpipe). The annual maintenance costs of the port machinery and the transport systems with zero CO2 emissions are also shown. The activity fully meets the criteria for a substantial contribution to climate change mitigation.
The activity 7.3 ‘Installation, maintenance and repair of energy efficient equipment’ includes individual renovation measures comprising installation, maintenance or repair of energy efficiency equipment. Economic activities in this category include one of the following individual measures provided that they comply with minimum requirements set for individual components and systems in the applicable national measures implementing Directive 2010/31/EU and, where applicable, are rated in the highest two populated classes of energy efficiency in accordance with Regulation (EU) 2017/1369 and delegated acts adopted under that Regulation:
tightness, measures to reduce the effects of thermal bridges and scaffolding) and products for the application of the insulation to the building envelope (including mechanical fixings and adhesive);
(b) replacement of existing windows with new energy efficient windows;
(c) replacement of existing external doors with new energy efficient doors;
(d) installation and replacement of energy efficient light sources;
(e) installation, replacement, maintenance and repair of heating, ventilation and air-conditioning (HVAC) and water heating systems, including equipment related to district heating services, with highly efficient technologies;
(f) installation of low water and energy using kitchen and sanitary water fittings which comply with technical specifications set out in Appendix A to Annex I, in case of shower solutions, mixer showers, shower outlets and taps, have a max water flow of 6 L/min or less attested by an existing label in the Union market.
In 2022, the equipment in the internal rail transport facility was upgraded and activities d, e and f were carried out. In 2023, energy-efficient light sources were installed and replaced, and ventilation, heating and cooling systems were upgraded.
The set of activities includes the installation, maintenance and repair of electric vehicle charging stations in buildings (and in parking spaces attached to buildings), which we implemented in 2023 in some areas of the port. The activity fully meets the criteria for a substantial contribution to climate change mitigation.
This activity is taxonomically acceptable, but not yet environmentally sustainable according to the criteria set, as these buildings are not classified in efficiency class A, so it is an activity not aligned with the taxonomy.
Based on the criteria set out, we have identified only one activity that makes a significant contribution to the objective from what is included in Annex III of Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for determining whether that economic activity causes no significant harm to any of the other environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities.
The activities include separate collection and transport of non-hazardous and hazardous waste aimed at preparing for re-use or recycling, including the construction, operation and upgrade of facilities involved in the collection and transport of such waste, such as civic amenity centres and waste transfer stations, as a means for material recovery. Under this heading we show net turnover, capital expenditure (CAPEX) and operating expenses (OPEX) for the separate collection and transport of hazardous waste activity, as we have already shown the non-hazardous waste collection and transport activity under the identified activity.
We estimate that the activity significantly contributes to the transition to a circular economy, as waste is collected separately by fraction in the port, reused or recycled, the quantity and quality of waste is continuously monitored and assessed, and reported to stakeholders. The activity does not hinder the achievement of a good environmental condition of sea waters or does not deteriorate sea waters that are already in a good environmental condition, which is established on the basis of the measurements carried out.
Key performance indicators derived from products or services related to the economic activities included in the taxonomy have been calculated for both Luka Koper d. d. and the Luka Koper Group, namely for net sales revenue, capital expenditures (CAPEX) and operating expenses (OPEX).
The understanding of the approach used in the directives related to the EU Taxonomy is still subject to some uncertainties of interpretation, which could lead to changes in reporting when the EU subsequently clarifies it. There is a risk that key performance indicators presented as Taxonomy-aligned may need to be assessed differently. Our understanding is given below.
The denominator of the calculated indicators takes into account the net sales revenue of Luka Koper, d. d., which amounted to EUR 309.3 million in 2023. The net sales revenue of Luka Koper d. d. is presented in the accounting part of the report in item 30.1 ‘Income statement’ and described in item 33 ‘Additional notes to the income statement’ in Note 1 ‘Net sales revenue’.
In the numerator of the calculated indicators, under net sales revenue for the activity of collection and transport of hazardous waste (NACE 38.11, E38.12 and F42.9), only the revenue recorded at cost items SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Wastewater treatment recorded on the basis of the services directly attributable to this activity is taken into account, and the remaining revenue is recorded based on hazardous waste collected in the total quantity of waste collected; for the activities of collection and transport of fractions of non-hazardous waste separated at source (NACE E38.11), only the revenue recorded at cost item SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Waste water treatment recorded on the basis of services directly attributable to this activity is taken into account, and the remaining revenue is recorded on the basis non-hazardous waste collected in the total amount of waste collected; and the activity of purchase and ownership of buildings (NACE L68) only takes into account the net sales revenue recorded on the basis of the manual records of revenue in the rent accounts and cost centres related to investment property shown in Note 13: ‘Investment property’. Each accounting document recorded in the SAP IT system can only be assigned to one cost centre and account, which allows us to avoid double counting.
Net sales revenue from environmentally sustainable Taxonomy-aligned activities amounted to EUR 0.5 million in 2023, or 0.2 percent of total net sales. This was contributed by the activity of collection and transport of fractions of hazardous waste (NACE 38.11, E38.12 and F42.9).
Net sales revenue from activities that are Taxonomy-eligible but are not environmentally sustainable (non-Taxonomy-aligned) amounted to EUR 2 million in 2023, or 0.6 percent of total net sales. Collection and transport of source-separated fractions of non-hazardous waste (NACE E38.11) contributed EUR 0.7 million or 0.2 percent of total net sales revenue. The activity of acquisition and ownership of buildings (NACE L68) contributed EUR 1.3 million or 0.4 percent of the total net sales, which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Net sales revenue from activities that are Taxonomy-eligible amounted to EUR 2.5 million in 2023, or 0.8 percent of total net sales.
Net sales revenue from activities that are Taxonomy-non-eligible amounted to EUR 306.8 million in 2023, or 99.2 percent of total net sales.
The denominator of the calculated indicators takes into account the capital expenditure of Luka Koper, d. d., which amounted to EUR 41.3 million in 2023. Capital expenditure (CAPEX) of Luka Koper d. d. is presented in the accounting part of the report, Note 12 ‘Property, plant and equipment’ and Note 14 ‘Intangible assets’.
The numerator of the calculated indicators takes into account the capital expenditure (CAPEX) allocated to each of the identified taxonomic activities based on the recorded value of each investment in the PPM Clarity investment management information system, where each investment is assigned a single investment number, and environmentally sustainable investments are additionally marked as OIP - Operational Improvement Programme. All investments marked as OIP were reviewed and linked to only one Taxonomy activity, and an additional 5 investments not marked as OIP were linked to each of the identified Taxonomy activities. This helped the company to avoid double counting.
Capital expenditure (CAPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 1 million in 2023, or 2.4 percent of total capital expenditure (CAPEX). Collection and transport of hazardous waste (NACE E38.11, E38.12 and F42.9) contributed EUR 0.2 million or 0.5 percent of the total capital expenditure (CAPEX). Generation of energy using photovoltaic technology (NACE D35.11 and F42.22) contributed EUR 0.4 million, or 1.0 percent of total capital expenditure (CAPEX). The electricity transmission and distribution activity (NACE D35.12 and D35.13) contributed EUR 0.04 million or 0.1 percent of total capital expenditure (CAPEX). The transport by motorcycles, passenger cars and light commercial vehicles (NACE H49.32, H49.39 and N77.11) contributed EUR 0.1 million or 0.2 percent of total capital expenditure (CAPEX). The activity of installation, maintenance and repair of energy efficient equipment (NACE F42, F43, M71, C16, C17, C22, C23, C25, C27, C28, S95.21, S95.22 or C33.12) contributed EUR 0.2 million or 0.5 percent of total capital expenditure (CAPEX). The activity of installation, maintenance and repair of charging stations for electric vehicles in buildings (and in parking spaces attached to buildings) (F42, F43, M71, C16, C17, C22, C23, C25, C27 or C28) contributed EUR 0.04 million or 0.1 percent of total capital expenditure (CAPEX). The data is shown in the accounting part of the report in Note 12 ‘Property, plant and equipment’.
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible amounted to EUR 1.03 million in 2023, or 2.5 percent of total capital expenditure (CAPEX).
Capital expenditure (CAPEX) from activities that are Taxonomy non-eligible amounted to EUR 40.3 million in 2023, or 97.5 percent of total capital expenditure (CAPEX).
The denominator of the calculated indicators takes into account the operating expenses (OPEX) of Luka Koper, d. d., namely the cost of spare parts and maintenance services and costs related to waste collection, which amounted to EUR 19.9 million in 2023. The operating expenses (OPEX) of Luka Koper d. d. are presented in the accounting part of the report, in Note 4 ‘Cost of material’ and Note 5 ‘Cost of services’.
The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the hazardous waste collection and transport activities (NACE E38.11, E38.12 and F42.9) on the basis of the costs recorded in cost centres SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Wastewater treatment, recorded based on the hazardous waste collected in the total amount of waste collected. The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the activity of renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) on the basis of the accounting documents recorded in the four internal maintenance orders and the cost accounts for spare parts and maintenance services in the SAP information system. The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the activity of infrastructure to enable low-carbon transport on waterways (NACE F42.91, F71.1 or F71.20) on the basis of the accounting documents recorded in internal maintenance orders and the cost accounts for spare parts and maintenance services in the SAP information system. The costs of only those technical sites where it was possible to connect infrastructure, machinery and transport systems enabling zero CO2 emissions were selected. For the activity of purchase and ownership of buildings (NACE L68), operating expenses (OPEX) are taken into account on the basis of the manual cost records in the rent and cost centre accounts related to investment property shown in Note 13: ‘Investment property’. Each accounting document recorded in the SAP IT system can only be assigned to one cost centre and account, which allows us to avoid double counting.
Operating expenses (OPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 4.8 million in 2023, or 24.1 percent of total operating expenses (OPEX). Collection and transport of hazardous waste (NACE E38.11, E38.12 and F42.9) contributed EUR 0.8 million or 4 percent of the total operating expenses (OPEX). Renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) contributed EUR 0.9 million, or 4.5 percent of total operating expenses (OPEX). Infrastructure enabling low carbon water transport (NACE F42.91, F71.1 or F71.20) contributed EUR 3.1 million or 15.6 percent of total operating expenses (OPEX). The data is shown in the accounting part of the report in Note 5 ‘Cost of services’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not aligned with the taxonomy) amounted to EUR 1.1 million in 2023, or 5.5 percent of total operating expenses (OPEX). The activity of collection and transport of source-separated fractions of non-hazardous waste (NACE E38.11) contributed EUR 0.5 million or 2.5 percent of total operating expenses (OPEX). The activity of acquisition and ownership of buildings (NACE L68) contributed EUR 0.6 million or 3 percent of the total operating expenses (OPEX), which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible amounted to EUR 5.9 million in 2023, or 29.6 percent of total operating expenses (OPEX).
Operating expenses (OPEX) from activities that are taxonomy non-eligible amounted to EUR 14.0 million in 2023, or 70.4 percent of total capital expenditure (CAPEX).
The denominator of the calculated indicators takes into account the net sales revenue of the Luka Koper Group, which amounted to EUR 312.8 million in 2023. The net sales revenue of the Luka Koper Group is presented in the accounting part of the report in item 30.1 ‘Income statement’ and described in item 33 ‘Additional notes to the income statement’ in Note 1 ‘Net sales revenue’.
at cost item SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Waste water treatment recorded on the basis of services directly attributable to this activity is taken into account, and the remaining revenue is recorded on the basis non-hazardous waste collected in the total amount of waste collected; and the activity of purchase and ownership of buildings (NACE L68) only takes into account the net sales revenue recorded on the basis of the manual records of revenue in the rent accounts and cost centres related to investment property shown in Note 13: ‘Investment property’. Each accounting document recorded in the SAP IT system can only be assigned to one cost centre and account, which allows us to avoid double counting.
Net sales revenue from environmentally sustainable Taxonomy-aligned activities amounted to EUR 0.5 million in 2023, or 0.2 percent of total net sales. This was contributed by the activity of collection and transport of fractions of hazardous waste (NACE 38.11, E38.12 and F42.9).
Net sales revenue from activities that are Taxonomy-eligible but are not environmentally sustainable (not aligned with the taxonomy) amounted to EUR 1.5 million in 2023, or 0.5 percent of total net sales. Collection and transport of source-separated fractions of non-hazardous waste (NACE E38.11) contributed EUR 0.7 million or 0.2 percent of total net sales revenue. The activity of acquisition and ownership of buildings (NACE L68) contributed EUR 0.8 million or 0.3 percent of the total net sales, which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Net sales revenue from activities that are Taxonomy-eligible amounted to EUR 2 million in 2023, or 0.6 percent of total net sales.
Net sales revenue from activities that are Taxonomy-non-eligible amounted to EUR 310.8 million in 2023, or 99.4 percent of total net sales.
The denominator of the calculated indicators takes into account the capital expenditure (CAPEX) of the Luka Koper Group which amounted to EUR 41.5 million in 2023. Capital expenditure (CAPEX) of the Luka Koper Group is presented in the accounting part of the report, Note 12 ‘Property, plant and equipment’ and Note 14 ‘Intangible assets’.
The numerator of the calculated indicators takes into account the capital expenditure (CAPEX) allocated to each of the identified taxonomic activities based on the recorded value of each investment in the PPM Clarity investment management information system, where each investment is assigned a single investment number, and environmentally sustainable investments are additionally marked as OIP - Operational Improvement Programme. All investments marked as OIP were reviewed and linked to only one Taxonomy activity, and an additional 5 investments not marked as OIP were linked to each of the identified Taxonomy activities. This helped the company to avoid double counting.
Capital expenditure (CAPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 1 million in 2023, or 2.4 percent of total capital expenditure (CAPEX). Collection and transport of hazardous waste (NACE E38.11, E38.12 and F42.9) contributed EUR 0.2 million or 0.5 percent of the total capital expenditure (CAPEX). Generation of energy using photovoltaic technology (NACE D35.11 and F42.22) contributed EUR 0.4 million, or 1.0 percent of total capital expenditure (CAPEX). The electricity transmission and distribution activity (NACE D35.12 and D35.13) contributed EUR 0.04 million or 0.1 percent of total capital expenditure (CAPEX). The transport by motorcycles, passenger cars and light commercial vehicles (NACE H49.32, H49.39 and N77.11) contributed EUR 0.1 million or 0.2 percent of total capital expenditure (CAPEX). The activity of installation, maintenance and repair of energy efficient equipment (NACE F42, F43, M71, C16, C17, C22, C23, C25, C27, C28, S95.21, S95.22 or C33.12) contributed EUR 0.2 million or 0.5 percent of total capital expenditure (CAPEX). The activity of installation, maintenance and repair of charging stations for electric vehicles in buildings (and in parking spaces attached to buildings) (F42, F43, M71, C16, C17, C22, C23, C25, C27 or C28) contributed EUR 0.04 million or 0.1 percent of total capital expenditure (CAPEX). The data is shown in the accounting part of the report in Note 12 ‘Property, plant and equipment’.
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not aligned with the Taxonomy) amounted to EUR 0.05 million in 2023, or 0.1 percent of total capital expenditure (CAPEX). This was contributed by acquisition and ownership of buildings (NACE L68), which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible amounted to EUR 1.03 million in 2023, or 2.5 percent of total capital expenditure (CAPEX).
Capital expenditure (CAPEX) from activities that are Taxonomy non-eligible amounted to EUR 40.5 million in 2023, or 97.5 percent of total capital expenditure (CAPEX).
amounted to EUR 19.9 million in 2023. The operating expenses (OPEX) of the Luka Koper Group are presented in the accounting part of the report, in Note 4 ‘Cost of material’ and Note 5 ‘Cost of services’.
The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the hazardous waste collection and transport activities (NACE E38.11, E38.12 and F42.9) on the basis of allocating the costs recorded in cost centres SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Wastewater treatment, recorded based on the hazardous waste collected in the total amount of waste collected. The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the activity of renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) on the basis of the accounting documents recorded in the four internal maintenance orders and the cost accounts for spare parts and maintenance services in the SAP information system. The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the activity of infrastructure to enable low-carbon transport on waterways (NACE F42.91, F71.1 or F71.20) on the basis of the accounting documents recorded in internal maintenance orders and the cost accounts for spare parts and maintenance services in the SAP information system. The costs of only those technical sites where it was possible to connect infrastructure, machinery and transport systems enabling zero CO2 emissions were selected. For the activity of purchase and ownership of buildings (NACE L68), operating expenses (OPEX) are taken into account on the basis of the manual cost records in the rent and cost centre accounts related to investment property shown in Note 13: ‘Investment property’. Each accounting document recorded in the SAP IT system can only be assigned to one cost centre and account, which allows us to avoid double counting.
Operating expenses (OPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 5 million in 2023, or 25.1 percent of total operating expenses (OPEX). Collection and transport of hazardous waste (NACE E38.11, E38.12 and F42.9) contributed EUR 1 million or 5 percent of the total operating expenses (OPEX). Renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) contributed EUR 0.9 million, or 4.5 percent of total operating expenses (OPEX). Infrastructure enabling low carbon water transport (NACE F42.91, F71.1 or F71.20) contributed EUR 3.1 million or 15.6 percent of total operating expenses (OPEX). The data is shown in the accounting part of the report in Note 5 ‘Cost of services’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not aligned with the taxonomy) amounted to EUR 1.2 million in 2023, or 6 percent of total operating expenses (OPEX). The activity of collection and transport of source-separated fractions of non-hazardous waste (NACE E38.11) contributed EUR 0.6 million or 3 percent of total operating expenses (OPEX). The activity of acquisition and ownership of buildings (NACE L68) contributed EUR 0.6 million or 3 percent of the total operating expenses (OPEX), which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible amounted to EUR 6.2 million in 2023, or 31.2 percent of total operating expenses (OPEX).
Operating expenses (OPEX) from activities that are Taxonomy non-eligible amounted to EUR 13.7 million in 2023, or 68.8 percent of total capital expenditure (CAPEX).
/ The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned - not relevant
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Economic Activities Code | # | Absolute |
| Climate Change Mitigation | Climate Change Adaptation | Water | Circular Economy | Pollution | Biodiversity and Ecosystems | Minimum Safeguards | Taxonomy Aligned Proportion of Total Turnover 2023 | Taxonomy Aligned Proportion of Total Turnover 2022 |
|---|---|---|---|---|---|---|---|---|
| % | % | % | % | % | % | Y/N | % | % |
| EUR million | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | % | % | E | T |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A TAXONOMY-ELIGIBLE ACTIVITIES | A.1 Environmentally Sustainable Activities (Taxonomy-aligned) | 2.3 Collection and Transport of Non-hazardous and Hazardous Waste | KG 2.3. | NACE: E38.11, E38.12, F42.9 |
| 0,5 | 0,2% | N/EL | N/EL | N/EL | 100,0% | N/EL | N/EL | N/AY | Y | N/AY | 0,2% |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5.5 | Collection and transport of non-hazardous waste in source segregated fractions | BPS 5.5 | NACE: E38.11 | 0,7 | 0,2% |
|---|---|---|---|---|---|
| 7.7 | Acquisition and ownership of buildings | BPS and PPS 7.7 | HACE: L68 | 1,3 | 0,4% |
| 2,0 | 0,6% |
|---|---|
| 2,5 | 0,8% | 0,2% |
|---|---|---|
| 306,8 | 99,2% |
|---|---|
| 309,3 | 100,0% |
|---|---|
Long-term sustainability of the natural environment Annual report 2023
Proportion of capital expenditure (CAPEX) related to Taxonomy-aligned economic activities - disclosure by Luka Koper d. d. for the year 2023 with comparison to 2022, for the achievement of all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned - not relevant
to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective, i.e.:
Luka Koper, d. d.
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Economic Activities | Code # | Absolute turnover | Proportion of turnover | Climate Change Mitigation | Climate Change Adaptation | Water | Circular |
| Category (enabling activity) | Category (transitional activity) | EUR million | 2023 % | 2022 % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | 2023 % | 2022 % | E | T |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A TAXONOMY-ELIGIBLE ACTIVITIES | A.1. CapEx of environmentally sustainable activities (Taxonomy-aligned) | 2.3 Collection and transport of non-hazardous and hazardous waste KG 2.3, NACE: E38.11, E38.12, F42.9 | 0,2 | 0,5% | N/EL | N/EL | N/EL | 100,0% | N/EL | N/EL | N/AY | Y | _ | Y | N/AY |
| 0,5% | / | ||||||||||||||
| 4.1 Electricity generation using solar photovoltaic technology PPS 4.1. NACE: D35.11 and F42.22 | 0,4 | 1,0% | N/EL | 100,0% | N/EL | N/EL | N/EL | N/EL | N/A | _ | N/AY | N/A | Y | Y | |
| 1,0% | 1,0% | ||||||||||||||
| 4.9 Transmission and distribution of electricity PPS 4.9. |
| 0,04 | 0,1% | N/EL | 100,0% | N/EL | N/EL | N/EL | N/EL | N/A | _ | N/AY | Y | YY | 0,1% | 0,1% | E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0,1 | 0,2% | 100,0% | N/El | N/EL | N/EL | N/EL | N/EL | _ | Y | N/AY | Y | N/A | Y | 0,2% | / T |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 100,0% | N/El | N/EL | N/EL | N/EL | N/EL | _ | Y | Y | Y | Y | YY | 0 | 50,0% | E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0,2 | 0,5% | 100,0% | N/EL | N/EL | N/EL | N/EL | N/EL | _ | Y | N/A | N/A | Y | N/A | Y | 0,5% | 0,4% | E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0,04 | 0,1% | 100,0% | N/EL | N/EL | N/EL | N/EL | N/EL | _ | Y | N/A | N/A | N/A | N/A | Y | 0,1% | 0 | E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,0 | 2,4% | 2,4% | 51,5% |
|---|---|---|---|
| 0,05 | 0,1% |
|---|---|
| 0,05 | 0,1% |
|---|---|
| 1,03 | 2,5% | 2,4% | 51,5% |
|---|---|---|---|
| Capex of Taxonomy-non-eligible activities | 40,3 | 97,5% |
|---|---|---|
| 41,3 | 100,0% |
|---|---|
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned - not relevant
| Economic Activities Code # | Absolute turnover | Proportion of turnover | Climate Change Mitigation | Climate Change Adaptation | Water | Circular Economy | Pollution | Biodiversity and ecosystems | Minimum Safeguards | Taxonomy aligned proportion of total turnover 2023 |
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| Category (enabling activity) | Category (transitional activity) | EUR million | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | % | E T |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A TAXONOMY-ELIGIBLE ACTIVITIES | |||||||||||||||||
| A.1 Environmentally sustainable activities (Taxonomy-aligned) | |||||||||||||||||
| 2.3 Collection and transport of non-hazardous and hazardous waste | KG 2.3, NACE: E38.11, E38.12, F42.9 | 0,8 | 4,0% | N/EL | N/EL | N/EL | 100,0% | N/EL | N/EL | N/AY | Y | _ | Y | N/AY | 4,0% | ||
| 5.2 Renewal of water collection, treatment and supply systems | PPS 5.2. NACE: E36.00 and F42.99 | 0,9 | 4,5% | N/EL | 100,0% | N/EL | N/EL | N/EL | N/EL | N/A | _ | Y | N/A | N/AY | Y | 4,5% | 3,8% |
| 6.16 Infrastructure enabling low carbon water transport | BPS 6.16. NACE: F42.91, F71.1 or F71.20 | 3,1 | 15,6% | 100,0% | N/El | N/EL | N/EL | N/EL | N/EL | _ | Y | Y | Y | YY | 15,6% | 10,1% | O |
| OpEx of environmentally sustainable activities (Taxonomy-aligned) (A.1) | 4,8 | 24,1% | 24,1% | 13,9% | |||||||||||||
| A.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) | |||||||||||||||||
| 5.5 Collection and transport of non-hazardous waste in source segregated fractions | BPS 5.5 NACE: E38.11 | 0,5 | 2,5% | ||||||||||||||
| 7.7 Acquisition and ownership of buildings | BPS and PPS 7.7 HACE: L68 | 0,6 | 3,0% | ||||||||||||||
| OpEx of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) | 1,1 | 5,5% | |||||||||||||||
| Total (A.1+A.2) | 5,9 | 29,6% | 24,1% | 13,9% | |||||||||||||
| B. TAXONOMY-NON-ELIGIBLE ACTIVITIES |
| OpEx of Taxonomy-non-eligible activities | 14,0 | 70,4% |
|---|---|---|
| Total (A+B) | 19,9 | 100,0% |
Long-term sustainability of the natural environment
Proportion of net sales revenue related to Taxonomy-aligned economic activities - disclosure by the Luka Koper Group for the year 2023 with comparison to 2022, for the achievement of all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned - not relevant
| Economic Activities Code # | Absolute turnover | Proportion of turnover | Climate Change Mitigation | Climate Change Adaptation | Water | Circular Economy | Pollution | Biodiversity and ecosystems |
|---|---|---|---|---|---|---|---|---|
| 1 | ||||||||
| 2 | ||||||||
| 3 | ||||||||
| 4 | ||||||||
| 5 | ||||||||
| 6 | ||||||||
| 7 | ||||||||
| 8 | ||||||||
| 9 | ||||||||
| 10 | ||||||||
| 11 | ||||||||
| 12 | ||||||||
| 13 | ||||||||
| 14 | ||||||||
| 15 | ||||||||
| 16 | ||||||||
| 17 | ||||||||
| 18 | ||||||||
| 19 | ||||||||
| 20 | ||||||||
| 21 |
| EUR million | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | % | E T | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A TAXONOMY-ELIGIBLE ACTIVITIES | |||||||||||||||||
| A.1 Environmentally sustainable activities (Taxonomy-aligned) | |||||||||||||||||
| 2.3 Collection and transport of non-hazardous and hazardous waste | KG 2.3. | NACE: E38.11, E38.12, F42.9 | 0,5 | 0,2% | N/EL | N/EL | N/EL | 100,0% | N/EL | N/EL | N/AY | Y | _ | Y | N/A | Y | 0,2% |
| Turnover of environmentally sustainable activities (Taxonomy-aligned) (A.1) | 0,5 0,2% 0,2% | ||||||||||||||||
| A.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) | |||||||||||||||||
| 5.5 Collection and transport of non-hazardous waste in source segregated fractions | BPS 5.5 | NACE: E38.11 | 0,7 | 0,2% | |||||||||||||
| 7.7 Acquisition and ownership of buildings | BPS and PPS | 7.7 | HACE: L68 | 0,8 | 0,3% | ||||||||||||
| Turnover of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities) (A.2) | 1,5 0,5% | ||||||||||||||||
| Total (A.1+A.2) | 2,0 | 0,6% | 0,2% | ||||||||||||||
| B. TAXONOMY-NON-ELIGIBLE ACTIVITIES | |||||||||||||||||
| Turnover of Taxonomy-non-eligible activities | 310,8 | 99,4% | |||||||||||||||
| Total (A+B) | 312,8 | 100,0% |
118 Annual report 2023 Long-term sustainability of the natural environment
Proportion of capital expenditure (CAPEX) related to Taxonomy-aligned economic activities - disclosure by the Luka Koper Group for the year 2023 with comparison to 2022, for the achievement of all goals
The regulation did not apply in 2022
| Economic Activities Code # | Absolute turnover | Proportion of turnover | Climate Change Mitigation | Climate Change Adaptation | Water | Circular Economy | Pollution | Biodiversity and ecosystems |
|---|---|---|---|---|---|---|---|---|
| 1 | ||||||||
| 2 | ||||||||
| 3 | ||||||||
| 4 | ||||||||
| 5 | ||||||||
| 6 | ||||||||
| 7 | ||||||||
| 8 | ||||||||
| 9 | ||||||||
| 10 | ||||||||
| 11 | ||||||||
| 12 | ||||||||
| 13 | ||||||||
| 14 | ||||||||
| 15 | ||||||||
| 16 | ||||||||
| 17 | ||||||||
| 18 | ||||||||
| 19 | ||||||||
| 20 | ||||||||
| 21 |
Taxonomy aligned proportion of total turnover 2023
| EUR million | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | % | E T | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A TAXONOMY-ELIGIBLE ACTIVITIES | |||||||||||||||||||
| A.1. CapEx of environmentally sustainable activities (Taxonomy-aligned) | |||||||||||||||||||
| 2.3 Collection and transport of non-hazardous and hazardous waste | KG 2.3, NACE: E38.11, E38.12, F42.9 | 0,2 | 0,5% | N/EL | N/EL | N/EL | 100,0% | N/EL | N/EL | N/AY | Y | _ | Y | N/AY | 0,5% | / | |||
| 4.1 Electricity generation using solar photovoltaic technology | PPS 4.1. NACE: D35.11 and F42.22 | 0,4 | 1,0% | N/EL | 100,0% | N/EL | N/EL | N/EL | N/EL | N/A | _ | N/AY | N/A | Y | Y | 1,0% | 1,0% | ||
| 4.9 Transmission and distribution of electricity | PPS 4.9. NACE: D35.12 and D35.13 | 0,04 | 0,1% | N/EL | 100,0% | N/EL | N/EL | N/EL | N/EL | N/A | _ | N/AY | Y | YY | 0,1% | 0,1% | E | ||
| 6.5 Transport by motorbikes, passenger cars and light commercial vehicles | BPS 6.5. NACE: H49.32, H49.39 and N77.11 | 0,1 | 0,2% | 100,0% | N/El | N/EL | N/EL | N/EL | N/EL | _ | Y | N/AY | Y | N/A | Y | 0,2% | / | ||
| 6.16 Infrastructure enabling low carbon water transport | BPS 6.16. NACE: F42.91, F71.1 or F71.20 | 0 | 0 | 100,0% | N/El | N/EL | N/EL | N/EL | N/EL | _ | Y | Y | Y | YY | 0 | 50,0% | E | ||
| 7.3 Installation, maintenance and repair of energy efficiency equipment | BPS 7.3. NACE: F42, F43, M71, C16, C17, C22, C23, C25, C27, C28, S95.21, S95.22 or C33.12 | 0,2 | 0,5% | 100,0% | N/EL | N/EL | N/EL | N/EL | N/EL | _ | Y | N/A | N/A | Y | N/A | Y | 0,5% | 0,4% | E |
| 7.4 Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings) |
| 0,04 | 0,1% | 100,0% | N/EL | N/EL | N/EL | N/EL | N/EL | _ | Y | N/A | N/A | N/A | N/A | Y | 0,1% | 0 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BPS or PPS 7.7 | HACE: L68 | 0,05 | 0,1% |
|---|---|---|---|
| 0,05 | 0,1% |
|---|---|
| 1,03 | 2,5% | 2,4% | 51,5% |
|---|---|---|---|
| 40,5 | 97,5% |
|---|---|
| 41,5 | 100,0% |
|---|---|
Long-term sustainability of the natural environment Annual report 2023 119
Proportion of operating expenses (OPEX) related to Taxonomy-aligned economic activities - disclosure by the Luka Koper Group for the year 2023 with comparison to 2022, for the achievement of all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned - not relevant
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Economic Activities | Code # | Absolute turnover | Proportion of turnover | Climate Change Mitigation | Climate Change Adaptation | Water | Circular Economy |
| Category (enabling activity) | Category (transitional activity) | EUR million | % | % | % | % | % | % | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | Y/N | % | E | T |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A TAXONOMY-ELIGIBLE ACTIVITIES | A.1 Environmentally sustainable activities (Taxonomy-aligned) | 2.3 Collection and transport of non-hazardous and hazardous waste | KG 2.3, NACE: E38.11, E38.12, F42.9 | 1.0 | 5.0% | N/EL | N/EL | N/EL | 100.0% | N/EL | N/EL | N/AY | Y | _ | Y | N/AY | 5.0% | / |
| 5.2 Renewal of water collection, treatment and supply systems | PPS 5.2. NACE: E36.00 and F42.99 | 0.9 | 4.5% | N/EL | 100.0% | N/EL | N/EL | N/EL | N/EL | N/A | _ | Y | N/A | N/AY | Y | 4.5% | 3.8% | |
| 6.16 Infrastructure enabling low carbon water transport | BPS 6.16. NACE: F42.91, |
| 3,1 | 15,6% | 100,0% | N/EL | N/EL | N/EL | N/EL | N/EL |
|---|---|---|---|---|---|---|---|
| Y | Y | Y | Y | Y | 15,6% | 10,3% | O |
| 5,0 | 25,1% | 25,1% | 14,1% |
|---|---|---|---|
| 5.5 Collection and transport of non-hazardous waste in source segregated fractions | BPS 5.5 | NACE: E38.11 | 0,6 | 3,0% | |
|---|---|---|---|---|---|
| 7.7 Acquisition and ownership of buildings | BPS and PPS | 7.7 | HACE: L68 | 0,6 | 3,0% |
| 1,2 | 6,0% |
|---|---|
| 6,2 | 31,2% | 25,1% | 14,1% |
|---|---|---|---|
| 13,7 | 68,8% |
|---|---|
| 19,9 | 100,0% |
|---|---|
Technical support to the Management Board of the Company and Profit Centres is provided by specialised departments organised according to the fundamental management functions and the specific needs of the activities. Individual organisational units are responsible for the implementation of programmes and the achievement of environmental protection goals, while the programmes involving several units and a common infrastructure are the responsibility of the health and ecology protection department. The department performs an advisory, supervisory, development and operational role. In accordance with the requirements of ISO 14001 and EMAS and the Company's strategy, a representative of the Management Board for the environment and occupational safety and health and an environmental protection officer are appointed.
The environmental management system is designed so as to derive from the strategic orientations of the company, where strategic targets are determined. The Company’s policy and commitment is shown in more detail in the Chapter 19.4 ‘Policy on safety and health in the port and energy efficiency’. Environmental aspects are reviewed and evaluated as part of the annual planning process on a yearly basis. These aspects are elements of activities, products and services with significant impacts on the environment or impacts on our activity (e.g. climate change).
The criteria for evaluating the significance of environmental aspects include year-on-year progress, compliance with the law and compliance with the adopted internal standards, cost increase, and public opinion. To indicate significance in the evaluation process, a colour scale is used (red, yellow, green). An environmental aspect is considered significant when any of its criteria is evaluated red or at least three criteria are evaluated yellow. In analysing environmental aspects, all the activities are considered (in terms of indirect and direct impacts on the environment). The environmental aspects evaluated as significant are shown below. The Environmental report also discusses other identified environmental aspects, with the aim of providing a complete overview of the Company’s environmental management and activity.
Luka Koper, d. d., has always been concerned for improving the quality of life in the entire area in which the port is situated, and has been aware of the vulnerability of the natural environment. Being aware of the port’s impact on the environment, Luka Koper, d. d., has committed in its policies to sound management of the environment, hoping to preserve it for future generations. The processes of monitoring and reducing environmental impacts are part of regular activities. To this end, Luka Koper, d. d. works with competent specialised institutions.
Long-term sustainability of the natural environment Annual report 2023 121
Nearby underwater meadows (dwarf eelgrass or Zostera noltei and little Neptune grass or Cymodocea nodosa in the direction of Ankaran) Coexisting with the port in its immediate vicinity is the natural reserve known as Škocjanski Zatok (extending over 122.7 ha). The largest brackish wetland in Slovenia, the reserve is of vital importance for its remarkable profusion of flora and fauna. An agreement was signed with the manager of Škocjanski Zatok, DOPPS-Birdlife Slovenia, based on which the signatories cooperate in the preservation and management of ecosystems in order to:
The area is home to a huge number of endangered plant and animal species. The 2018 census identified 1,575 species from the IUCN Red List and from the list of nationally protected endangered animal and plant species. We estimate that all of them may be potentially endangered as a result of the port’s operation. Species abundance data were provided by the manager of the Škocjanski Zatok slough. To observe the indirect impacts of the port on the area of Škocjanski Zatok, the monitoring of impacts (noise, air quality) has been established for several years, with measuring devices placed in the immediate vicinity of the slough. The measurement results are made public and presented in a report. In 2021, we established water quality monitoring in the strait that crosses the port and connects Škocjanski Zatok to the sea (the results are reported in Chapter 19.15 ‘Biodiversity’). Part of the storm sewer from the port area flows into the strait, which can affect the water quality in Škocjanski Zatok.
For quite some time, we have had a shared notification system for cases of uncontrolled spills that could affect the water quality in Škocjanski Zatok. For many years, the site where water crosses from the strait to Škocjanski Zatok has had a fixed lock which is now reconstructed. Uncontrolled pollution at sea is monitored with three installed sensors (the results are presented in the Chapter 19.16 ‘Marine protection’). A radar system was installed in 2022 and tested in 2023 to identify potential oil slicks.
54 GRI 2-13, 3-3
even more reliably.
A coastal marsh at Sv. Nikolaj (extending over 7.27 ha), rare for its brackish marsh plants, and a unique Posidonia oceanica seagrass meadow in Žusterna are located near the port. While Posidonia oceanica is a common seagrass species in the Mediterranean, the small area (1 km) off the Slovenian coast between Koper and Izola is its only habitat in the Gulf of Trieste. In 2023, we mapped the Posidonia oceanica seagrass meadow (determined its extent) and in 2024, we will establish the monitoring of its condition.
At a greater distance from the port is the Debeli Rtič park (5.26 ha), which is also part of the Natura 2000 area. The port marine area is located in an ecologically important area, a sensitive area affected by eutrophication and a sensitive area of bathing water; therefore, we already have a system in place to monitor the quality of the sea, which is presented in the Chapters 19.15 ‘Biodiversity’ and 19.16 ‘Marine protection’.
IUCN – International Union for the Conservation of Nature and Natural Resources
In the direction of Ankaran, outside the concession area of the port, underwater meadows (dwarf eelgrass or Zostera noltei and little Neptune grass or Cymodocea nodosa) are found at depths of up to 5 meters. The meadows are not classified as protected areas, but their status may be affected by port operations. This is reported in Chapter 19.15 ‘Biodiversity’.
The Rižana River flows into the port water area (extending over 2.1 million m2) with a high content of suspended particles, which contributes to the siltation of the seabed in port basin II. Sea currents also contribute considerably to continuous application of the material to all port basins. In port waters, a certain depth has to be maintained on a regular basis to allow safe navigation and mooring of ships. Seabed dredging is carried out as necessary, and the material pumped out is deposited in settling pits provided for this purpose on land, but their capacities are not sufficient. Regardless of the activity of dredging and shipping, many animal and plant marine species are present in the port area, and this topic is presented in the Chapter 19.16 ‘Marine protection’. In 2021, an analysis of the abundance and species richness of organisms living in marine sediment was carried out for the first time and the results were presented in previous reports.
Koper city centre and part of the settlements Ankaran and Bertoki are also situated in the immediate vicinity of the port.
| Environmental aspects evaluated as significant | Explanation of the nature of impact |
|---|---|
| WATER CONSUMPTION / WASTEWATER / SEA | - Drinking water consumption and losses in the water supply network affect the already limited quantities of drinking water on the Coast. |
| ATMOSPHERIC EMISSIONS | - Dust emissions/immissions from services |
| - Handling of the bulk material can result in dust, causing some of the pollutants in the air to increase. | |
| ENERGY / INTERNAL TRANSPORT | - Internal transport powered by diesel engines |
| - Electricity and fuel consumption | |
| The use of fuel in the transport process results |
in the release of greenhouse gases into the air.
Generation of noise in the port
Noise emissions from freight and passenger ships
Every activity results in noise, which spreads into the environment and causes disturbance.
Seabed dredging and disposal of marine sediments
To ensure the safety of navigation and in the event of certain interventions, the seabed has to be dredged, whereby the sediment excavated is deposited ashore. Due to the salinity of the material, the surfaces are no longer suitable for farming, and the deposited marine sediment has poor load carrying capacity and tends to sink.
Fire safety
A high level of fire safety is highly crucial for the smooth operation of the entire port.
Biodiversity conservation
Biodiversity conservation is a major environmental aspect since the port coexists with the Škocjanski zatok nature reserve; in the immediate vicinity, there is also a coastal marsh at Sv. Nikolaj, rare for its brackish marsh plants, and a unique Posidonia oceanica seagrass meadow in Žusterna.
Port- and ship-generated waste
High rate of separate collection and re-use of waste (circular economy).
The table above shows environmental aspects evaluated as significant. In order to reduce the impacts of the identified environmental aspects, this year the traditional Luka Koper environmental workshop was again organised to decide on annual activities (improvement programmes) and review the progress made towards achieving the environmental targets, which are presented in more detail in the Chapter 19.3.2 ‘Environmental targets in 2024’.
The Regulation (EC) on the voluntary participation by organisations in the Community eco-management and audit scheme (EMAS) states that significant direct and indirect environmental aspects have to be reported together with the main performance indicators for the following environmental areas:
Energy, water, waste and land use with regard to biodiversity and emissions are reported later in this report. The material indicator is not shown because it is estimated as not crucial and important in storage and transhipment activities. In addition, we show more in-depth information related to climate change, as recommended by the European Commission in its Guidance on non-financial reporting: Supplement on reporting climate-related information (2019/C 209/01), as well as information on how and to what extent our activities are linked to economic activities that are considered environmentally sustainable, in accordance with Articles 3 and 9 of the Taxonomy Regulation (Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088) in conjunction with Commission Delegated Regulation (EU) 2021/2139.
The most important environmental targets:
The table presents the objectives and their realisation; the content is explained in more detail in the relevant chapters of the report.
| Section No | Important environmental |
|---|---|
| Target value | 2023 | Results for 2021 - 2023 | Realisation 2023 | |
|---|---|---|---|---|
| Dust emissions/immissions from services | 200 mg/m2 day up to 5 exceedances | 2021 | 2022 | 2023 |
| Values achieved: | 120 | 7 exceedances | 114 | 10 exceedances |
| 104 | 6 exceedances | 19.8 |
Maintain immission particle size below 10 µm in the entire port area
| Target value | 2021 | 2022 | 2023 |
|---|---|---|---|
| < 30 g/m3 | Bertoki-17 | Ankaran-15 | Koper-16 |
| Bertoki-21 | Ankaran-16 | Koper-16 | |
| Bertoki-14 | Ankaran-22 | Koper-14 |
Reduce the noise level at night in the direction of the city of Koper
| Year | Values achieved |
|---|---|
| 2021 | 53 |
| 2022 | 54 |
| 2023 | 54 |
Night: 48 dB
Maintain the noise level in front of the closest buildings outside the port at 58 dB during the day and 53 dB in the evening.
Evening: 53 dB
| Location | 2021 | 2022 | 2023 |
|---|---|---|---|
| Bertoki | 37 | 37 | 36 |
| Ankaran | 44 | 46 | 45 |
| Koper | 54 | 55 | 56 |
| Bertoki | 39 |
|---|---|
| Ankaran | 45 |
| Koper | 54 |
| Bertoki | 38 |
| Ankaran | 45 |
| Koper | 56 |
| Bertoki | 38 |
| Ankaran | 45 |
| Koper | 56 |
Maintain specific energy consumption on par with the year before despite increases in transhipment and storage capacities
| Year | Values achieved |
|---|---|
| 2021** | 0.7740 kWh/t |
| 2022** | 0.7332 kWh/t |
| 2023 | 0.8377 kWh/t |
Maintain specific energy consumption on par with the year before despite increases in throughput and storage capacities
| Year | Values achieved |
|---|---|
| 2021** | 2.29 l/t |
| 2022** | 2.09 l/t |
| 2023 | 2.255 l/t |
Maintain specific energy consumption on par with the year before despite increases in throughput and storage capacities
| Year | Values achieved |
|---|---|
| 2021** | 0.1290 l/t |
| 2022** | 0.1195 l/t |
| Year | Values achieved |
|---|---|
| 2021 | 0 |
| 2022 | 0 |
| 2023 | 0 |
| Year | Values achieved |
|---|---|
| 2021 | 0 |
| 2022 | 0 |
| 2023 | 0 |
< 3.5 min
| Year | Values achieved |
|---|---|
| 2021 | 2.97 |
| 2022 | 2.98 |
| 2023 | 2.83 |
| Year | Values achieved |
|---|---|
| 2021 | 0 |
| 2022 | 0 |
| 2023 | 0 |
| --- | |
| # 19.7 Fire safety |
Implement inspection decisions fully
| unimplemented inspection decisions | 2021 | 2022 | 2023 |
|---|---|---|---|
| Values achieved: | 0 | 0 | 0 |
Preserve water quality in the strait that connects Škocjanski Zatok with the sea and crosses the port
| Mineral oil content | < 50 μg/l | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Values achieved: | <20 | <20 | <20 |
126 Annual report 2023 Long-term sustainability of the natural environment
Preserve the range of the area of underwater meadows (Cymodocea nodosa, Zostera nolti) - measurement every three years
| Same area compared to the 2018 reference period | 2021 | 2022 | 2023 |
|---|---|---|---|
| Values achieved: | /# | /# | *** |
Key:
NOTE:
consumption of fuel, electricity and drinking water are calculated on the basis of total throughput.
In 2022, the targets were 0.7918 kwh/t for electricity, 0.1214 l/t for fuel, and 4.9 l/t for drinking water. As of 2021, target values and specific consumption of fuel, electricity and drinking water are calculated on the basis of total throughput.
The determination of the extent of seagrass meadows was not implemented in 2023 and will be carried out in 2024, after which the frequency of verification will be increased control will be carried out every 2 years.
In Luka Koper, d. d., an environmental policy is in place and its adequacy is regularly reviewed. In March 2019, the Policy on safety and health in the port and energy efficiency was updated. It is published at: https://www.luka-kp.si/slo/pomembni-dokumenti-208. The policy also sets out guidelines for reducing climate change by striving to reduce environmental impacts, managing resources carefully, improving energy efficiency and introducing modern technology.
In demonstrating compliance, we primarily refer to the Environmental Protection Act (Official Gazette of the Republic of Slovenia, No 44/22), on the basis of which the following environmental permits have been granted:
The Company meets the requirements set out in the environmental permits it has been granted with regard to emissions into water and into the air, storage of waste, noise emissions, and which it has been granted as a facility of increased risk of accidents. The fulfilment of the requirements of the granted environmental permits is reviewed annually to find whether the prescribed requirements are met.
To address light pollution, modernisation of all lights was completed in early 2017 so that they were made to comply with legal provisions in the field of light pollution (Decree on limit values for light pollution of the environment (Official Gazette of the Republic of Slovenia, No 81/07, 109/07, 62/10, 46/13 and 44/22 – ZVO-2)). The plan was subsequently revised in 2019, 2021 and 2022. The revisions were made due to changes in the number and location of the lights installed/removed.
Results of the measurements taken on the devices causing emissions to air indicate compliance with the obtained environmental permit (No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022).
PM10 and PM2,5 concentrations in the air in the port area, as well as the number of exceedances, are below the limit values stipulated by law (Decree on ambient air quality (Official Gazette of the Republic of Slovenia, No 9/11, 8/15, 66/18 and 44/22 – ZVO-2)).
The measured emissions of combustion plants are compliant with the legal requirements (No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022) and Decree on the emission of substances into the atmosphere from small combustion plants (Official Gazette of the Republic of Slovenia, No 46/19 and 44/22 – ZVO-2).
were carried out in front of the first buildings around the port and the results are in line with the requirements of the environmental permit granted with regard to the limit values of the ambient noise indicators applicable in front of the first buildings of Koper, Ankaran and Bertoki. The latter measurements are carried out every three years in accordance with the legislation. Also, in 2023, with the help of the authorised representative and a model calculation, we obtained an estimate of the environmental noise pollution (model calculation for the value of the night target until 2027).
The performed analyses of industrial wastewater and wastewater from small wastewater treatment systems have shown compliance with legal and environmental requirements No 35444-2/2016-13 of 15 Jun 2017, amendment No 35440-50/2019-10 of 21 Oct 2020 and amendment No 35447-4/2021-2550-10 of 27 May 2022. At the new site, where scrap iron is stored, the results in the stormwater were inadequate, which we found to be the result of seawater intrusion and mixing of the wastewater in the oil interceptor. As a measure, the stormwater runoff from this site will be diverted and treated in a new oil interceptor, which will be installed at a suitable depth to prevent seawater intrusion. We estimate that no significant environmental contamination has occurred as, although scrap iron is occasionally stored on site, the storage period is at most a few weeks (see Chapter 19.13 ‘Wastewater management’).
The measurement of the wastewater from the washing facility at the livestock terminal showed a slight exceedance of the limit value for the parameter ammonium nitrogen, but the discharged wastewater is further discharged to the Koper Central Wastewater Treatment Plant, where it is further treated, and therefore we estimate that there is no environmental pollution. Other measurements and parameters in the industrial wastewater were in accordance with the provisions of the environmental permit No 35444-2/2016-13 of 15 Jun 2017, amendment No 35440-50/2019-10 of 21 Oct 2020 and amendment No 35447-4/2021-2550-10 of 27 May 2022. The results of the measurements were communicated to the operator of the Koper Central Wastewater Treatment Plant.
The Company has a valid environmental permit for the warehousing (transhipment) of some categories of waste (scrap iron, paper, plastics, mill scale), No 35444-2/2016-13 of 15 Jun 2017, amendment No 35440-50/2019-10 of 21 Oct 2020 and amendment N .35447-4/2021-2550-10 of 27 May 2022. We performed transhipment of scrap iron, measuring the radioactivity of consignments, keeping records, calculating dust immissions into the environment and measuring wastewater from oil interceptors. In the context of the handling of scrap iron, other material was also traced in the consignments and returned to the sender or forwarded to another authorised organisation. Based on this, we have submitted an application to the Ministry for an amendment to the existing environmental permit (No 35444-2/2016-13 of 15 Jun 2017, amendment No 35440-50/2019-10 of 21 Oct 2020, amendment No 35447-4/2021-2550-10 of 27 May 2022) to introduce an additional treatment process for metallic waste at the existing site (Site 2 and Site 7) using the mechanical process R12 - Exchange of wastes for submission to any of the operations numbered.
In accordance with the Decree on checking the radioactivity of consignments that could contain orphan sources (Official Gazette of the Republic of Slovenia, No. 10/2019), measurements were performed continuously. We have been authorised to carry out measurements by the Slovenian Nuclear Safety Administration (SNSA) in December 2021, to which we submitted an annual report on the measurements performed.
We have not received any decisions for the implemented inspections (more in Chapter 19.6.4 ‘Inspections’).
In monitoring total dust, the set target of 200 mg/m2 per day was achieved, the average annual value having been 9 percent lower than in the previous year and below the target value. In 118 measurements, 6 exceedances were measured, which is less than in the previous year but above the set target (5 exceedances).
In monitoring the immissions of PM10 particles in the entire port area, the set internal target was achieved. In energy management, the targets for specific drinking water consumption and fossil fuel consumption for the port’s activity were met, however, the target for specific electricity consumption was not met. Deviations in target indicators are explained in related chapters.
The sea water protection system is being maintained and upgraded in a way to help meeting the set target without contaminations outside the port water area.
measures, so in this case we worked with an authorised contractor to create a model calculation based on the data of the existing and planned machinery up to 2027. The model calculation will thus be the basis for setting a more realistic night-time target in the direction of Koper.
For 2024, we have changed the value of the nighttime target in the direction of Koper based on the model calculation (described in more detail in Chapter 19.10.1. ‘Noise emission results’).
In the field of waste collection, the target of more than 93-percent share of waste collected separately excluding ship-generated waste is being met.
At the company level, the defined intervention time of the fire brigade is ensured (from receipt of notification to arrival) for fire interventions and accidents with bodily injuries, and the goals of complete prevention of major industrial accidents and full implementation of fire safety inspection decisions (no such decision has been received yet) were achieved in 2023.
The target, according to which no inspection or internal measures were required for interventions in space, was achieved.
The target in the field of marine protection was also achieved, as there has not been a single case of marine pollution outside the port water area.
The status of underwater meadows in the direction of Ankaran is checked periodically (once every 3 years), but it was not implemented in 2023. This is because the process of launching a public procurement procedure and selecting a contractor is being carried out, as we want to increase the monitoring frequency to 2 years. Regardless of the above, we have taken measurements and checked the status of the underwater meadows in the direction of Ankaran. Their status was found to be good.
Each year, a public opinion poll is carried out among the local population on the perception of Luka Koper, d. d., regarding its relationship to the environment and the company's performance. Most of the respondents are from the local communities of Semedela, Žusterna, Za Gradom and Olmo-Prisoje (43.8%), Bertoki, Hrvatini and Škofije (30.3%), Koper central (16.6%), and the municipality of Ankaran (9.3%). Throughout the years the survey was held, the sample has remained the same, and included all age groups and equally both sexes. The majority of respondents (87.4%) found Luka Koper, d. d., to be a successful/very successful enterprise.
Respondents believe the biggest sources of pollution in the local environment to be:
According to 43.2 percent of the respondents (2022: 26.6%), Luka Koper d. d. has a medium level of environmental protection (rating it a 3); 26.5 percent (2022: 27.3%) believe it is very good (rating it a 4), while 10.8 percent (2022: 21.7%) have rated the Company’s environmental protection programme as excellent (rating it a 5). 16.4 percent (2022: 11.9%) of the respondents deem the Company’s performance in this area poor or fair. Compared to the previous year, the proportion of respondents who believe that Luka Koper, d. d., takes care of the environment quite well (rating 4) has slightly decreased, but the proportion of those who think that Luka Koper, d. d., takes medium care of environmental protection (rating 3) has increased considerably. However, the proportion of those who think that Luka Koper, d. d., takes excellent care of environmental protection (rating 5) has decreased by half. The average score (on a scale of 1 to 5) has fallen from 3.66 to 3.28 in the last year.
| 2021 | 2022 | 2023 |
|---|---|---|
| 3.62 | 3.64 | 3.28 |
allows ships with lower environmental emissions to pay a lower fee, it was presented to all shipowners' representatives, with the aim of getting as many ships as possible to join the scheme, or only ships with the lowest environmental emissions to call at the port. The list of ships included in the ESI scheme is updated continuously and it is ensured that all clean ships are charged lower port dues. In 2023, 106 of the 1642 ships (6.5%), which are included in the ESI scheme, received a discount.
We have been very active in the field of energy. As part of the SOPOREM project, in which Luka Koper, d. d., as the lead partner collaborates with the Municipality of Koper and the Norwegian company Greenstat, the project of installing photovoltaic power plants in the port was presented at a press conference. The project envisages the construction of the second largest solar power plant in the country, to be completed in 2024. The project is reported in more detail in Chapter 2 ‘Letter of the President of the Management Board’.
In addition, activities were underway in late 2023 for a project to build a shore-side power supply system for ships. This follows the requirements of Regulation (EU) 2023/1805 on the use of renewable and low-carbon fuels in maritime transport and contributes to reducing greenhouse gas emissions, noise pollution and air pollution, thus maintaining environmental sustainability standards.
For the joint project with Eles, d.o.o. for the construction of the 110/20 kV transformer station Luka Koper, d. d., with a connecting line, a tenderer was selected at the end of 2023 for the preparation of the design and spatial-environmental documentation. The new substation will enable further development of the port while abandoning fossil fuels.
In order to meet the charging needs of electric vehicles, work has started in 2023 on a charging management system for the port.
In order to strengthen and develop cross-border cooperation, the Trieste Port Authority, the Venice Port Authority and Luka Koper, d. d., in cooperation with the Consortium for the Economic Development of Friuli Venezia Giulia and the University of Primorska, signed a protocol on sustainability and energy efficiency in ports. By adopting the Protocol, we have committed to continue the activities already undertaken in the past years in the framework of the EU project Clean Berth, co-funded by the Interreg V-A Slovenia – Italy 2014–2020 Programme (https://www.luka-kp.si/en/news/ports-in-north-adriatic-for-closer-cooperation-on-environmental-and-energy-projects/).
As part of our sponsorship, we supported the organisation of two professional business conferences in the field of sustainability: the first one was Mobility on 7 June, followed by Energy 2023 on 11 October. Both conferences were attended by employees from the health and ecology protection department, which also includes the energy sector. This led to the preparation of expert articles on environmental protection and green transition projects, which were published on the Delo website: https://www.delo.si/dpc-gradbenistvo/ugled-se-gradi-z-odgovornim-odnosom-do-okolja/ and a VIDEO: If allowed, we could also bathe in the Port of Koper - Delo.
We participated in the 25th Energy Days, which took place on 18 and 19 April in Portorož. At this meeting of Slovenia's energy managers at a conference on the challenges and opportunities of the energy crisis, we presented key climate transition projects and the challenges we face in the specific port operations: Luka Koper, d. d. is ready for the green transition - Luka Koper, d. d. (luka-kp.si).
On November 7, we hosted the final conference of the European 5G-Loginnov project, within the framework of which the development and testing of the next generation 5G mobile network for the needs of ports and logistics took place over the past three years: With 5G technology, a step forward in the development of a smart port - Luka Koper, d. d. (luka-kp.si).
Photo: Jakob Bužan
We joined UNI.MINDS, Slovenia's largest festival dedicated to the creation and development of a Slovenian innovation community in partnership between the economy and the academic environment. On this occasion, students from various Slovenian faculties visited the port. In the InnoRenew CoE centre of excellence, we presented the students in detail with environmental protection activities, the innovative measure of applying a cellulose protective layer on stored coal and the project "Bricks made of marine sediment" awarded by the European Sea Ports Organization (ESPO): Festival UNI.MINDS: Bringing together the economy and the academic sphere - Luka Koper, d. d. (luka-kp.si).
Photo: Jakob Bužan
In August 2023, a meeting of a wider group of representatives of the Municipality of Koper and Luka Koper (management and professionals) was held. On this basis, a special working group, the Technology Hub - Smart Business City, was appointed in September with the aim of creating the conditions for the operation of a technology hub or other form of supportive environment for economic development in part of the Storage facility No 3.
Students, accompanied by professors, of the Faculty of Maritime Studies and Transport, with whom Luka Koper cooperates intensively in several areas, visited the port several times. The focus of the discussions during the presentation and the port visit was on the activities of the port and its involvement in maritime safety. One of the activities is to take measurements and regularly monitor meteorological data. We also share information relevant for the safe arrival of ships with the Slovenian Maritime Administration, pilots of KOPP, d. o. o., Adria-Tow tugs, the Maritime Police, the Slovenian Armed Forces and Sirio, d. o. o. An example of good practice was also presented, related to the organisation for prevention of or coping with unforeseen events, natural and other disasters, as well as the needs and objectives regarding the forces and equipment for the implementation of protection and rescue. Important events are also reported in Chapter 22 ‘Social responsibility’.
Environmental complaints are accepted by telephone, through a web application and the media. We address all complaints and respond to the complainant. All complaints received were processed (100%).
A total of 14 complaints were registered in 2023, including six about excessive noise, five about smoke from the ship, one about out-of-date information on the Living with the Port (ŽSP) website, one about noise and dust during construction work at the external truck terminal and one about the ship's siren going off.
| Year | Number of environmental complaints |
|---|---|
| 2021 | 18 |
| 2022 | 12 |
| 2023 | 14 |
Out of a total of six noise-related complaints, most of them (five complaints) related to the noise of ships in the direction of Koper, and one to the noise of a ship in the direction of Ankaran. In all cases of noisy ships, we tried to form an agreement with the shipowner's agent or the command of the ship to take action. Since the source of ship noise may vary (e. g. pumps, ventilation, cranes, engine, vibrations), the measures taken by the shipowner are also diverse and of varying effectiveness. In most cases, shipowners or ship commanders understand the issue, and if possible or allowed by the system, they listen and take action. Of the five complaints, we were able to reduce the noise level in two cases after taking action with the shipowner or the ship's agent. The noise impact of these ships is present for the time they are moored in port.
Five complaints were received about a ship or tugboat smoking in port. When such incidents occurred, we informed the competent maritime inspector, who monitors and verifies what is happening at sea, or the shipowner. In most cases, the smoking occurs when the ship's main engines start, which lasts for a short period of time, so the impact is present for a short period of time. A permanent end to ship smoking will only be possible when ships have alternative propulsion systems and no longer use fossil fuels.
One complaint was received about noise and dust from construction work at the external truck terminal. In this case, the status of the investment area was checked and an indicative timetable for the works was communicated to the caller. After a warning to the contractor, the situation improved, so we estimate that the dust impact was present, but for a short period of time.
One complaint was about the noise and dust data on the Living with the Port (ŽSP) website not being updated. The problems with uploading the data on the server were quickly resolved and we do not assess the environmental impact.
One complaint concerned the sounding of a ship's siren in the morning hours due to a ship signalling in fog. The citizen of Koper was informed of the cause.
No 51/14, 57/15, 26/17, 105/20 and 44/22 – ZVO-2). In 2023, Luka Koper, d. d. did not produce any documentation for interventions or plans and, consequently, no results of environmental and social impact assessments were published. In 2022, the results of the environmental and social impact assessment for the intervention "New moorings on the southern quayside of Pier II" were published, where stakeholders were involved, and an integrated permit was issued in June 2022 (100% implementation).
The deficiencies identified from the inspections were not of such a nature as to have an impact on the environment. Luka Koper d. d., received no financial penalties from inspections in 2021, 2022 and 2023, whereas in 2023, one subsidiary received a penalty of EUR 30 for an environmental offence.
| Inspectorate | Start date, notification of the process | Subject matter | Findings | Company |
|---|---|---|---|---|
| Environment, Climate and Energy Inspectorate of the Republic of Slovenia | 31 May 2023 | Invitation to submit the operational wastewater monitoring report for the company Luka Koper, d. d. for the year 2022. | The process is still ongoing. | Luka Koper, d. d. |
| Ministry for the Environment, Climate and Energy | 22 Aug 2023 | Control of an operations posing a significant risk to the environment (SAVESO) | There were no objections, and the procedure was closed. | Luka Koper, d. d. |
| Ministry of Natural Resources and Spatial Planning | 26 Oct 2023 | Control over the monitoring of shipments due to increased radioactivity | The conclusion was recorded that it is |
Inspectorate of the Republic of Slovenia
1 Dec 2023
There were no objections, and the procedure was closed.
4 Dec 2023
Review of records on receipt and submission of waste for cross-border transfer, air emissions and wastewater disposal.
Decision to close the procedure No 06182-2813/2022
There were no objections, and the procedure was closed.
26 Oct 2023
Cargo (waste rubber) is not stored separately according to whether it is waste or non-waste.
1 Dec 2020 - 31 Jan 2023
Incorrectly completed accompanying documents, receipt and issue of goods, decision received and a fine of Eur 30.
Adria Terminali, d. o. o.
10 Nov 2023
In 2023, we had one inspection by the Environment Inspectorate, which took place in November. It is noted that we have cancelled the environmental permit for composting. We were alerted to an irregularity in record keeping, which we corrected before the end of the calendar year deadline. Documentation on monitoring and the maintenance of operating logs at the two oil separators was also reviewed. Part of the documentation was delivered later.
environmental complaints’, while incidents at sea are discussed in Chapter 19.17.1 ‘Statistics for interventions at sea’. As part of its activities, Luka Koper, d. d., uses, transports and warehouses dangerous substances, oil and petroleum products, and manages work equipment and assets that carry a risk of accidents.
A review of threat assessments and the Emergency Plan was carried out. The plan was approved by the Management Board of Luka Koper, d. d., in April 2022. The protection and rescue system in Luka Koper, d. d., involves players from various areas of expertise, organisations and undertakings whose details are recorded in the annexes to the plan. The annexes were regularly reviewed in 2023 and corrected or supplemented as necessary, and the plan itself will be revised in 2025.
In the event of interventions in emergency situations in the port area, the Luka Koper, d. d., Professional Fire Brigade and Port Security Department are always involved, and if required, also the sea protection unit, Luka Koper INPO, d. o. o., Luka Koper, d. d. Industry Volunteer Firefighting Society, Luka Koper, d. d. Civil Protection Unit, and other units in accordance with the Emergency Plan.
The fire safety target is to ensure an adequate supply system and a sufficient quantity of water for fire extinguishing throughout the port area and ensure proper firefighter intervention for specific objects. In 2018, the Investments Department devised the 2018–2023 Plan for the maintenance and repair of the water and hydrant network, which is in its final stages.
The Port Professional Fire Brigade currently employs 30 people who ensure a 24-hour on-call service. Its fleet comprises eight fire engines and seven trailers with various equipment. The Fire Brigade provides operational and preventive fire safety work in the port. Firefighting operations include firefighting and rescue in all types of accidents, providing medical aid to the sick and injured, and education and training with firefighting equipment. In 2023, the unit intervened in 712 events.
An additional 126 fire watches (welding, cutting, etc.) were carried out throughout the year. Fire watches are carried out daily at the liquid cargo terminal during its operation.
Fire drill
Photo: Matej Ličan
In 2023, over 250 employees were trained in fire protection. Regular training of professional firefighters is very important for maintaining a high level of knowledge and safety in interventions. Professional firefighters receive regular training at the fire brigade and at the Firefighting School. Around one hundred internal exercises on various firefighting topics were conducted in the port area.
| Description of event | Number in 2021 | Number in 2022 | Number in 2023 | Measures taken |
|---|---|---|---|---|
| Cracks in vehicle hydraulic systems (external vehicles and port machinery) or oil slicks detected on the asphalt surface. | 115 | 118 | 207 | Remediation by using absorbents and a machine / hand-held sweeper. Eco-points are located in key areas, where substances for quick remediation are available together with bins for spent absorbent disposal. Hydraulic oil leaks are recorded on 0.05 percent of vehicles entering the port. |
Repair of the leaking pipes.
Remediation by using absorbents and a machine / hand-held sweeper on the site of leakage.
Adequate management of the collected waste in future.
In all cases, small, local fire onsets were extinguished, and additional measures were introduced where necessary.
Freons were released into the air due to loosening of materials. We have drawn up a project brief to modernise the refrigeration plant in this area by phasing out freons as a refrigerant.
All emergencies were small-scale, managed and remedied at the site of occurrence, with no impact on the environment.
In 2023, the following was implemented:
The following was not implemented in 2023:
The following will be implemented in 2024:
We are making continuous efforts to reduce emissions from port activity into the atmosphere. The main sources of emissions we can control include:
The systems for storing and transhipment of the above-mentioned cargoes are set up in the port of Koper in accordance with the best available techniques (the so-called BAT). Examples of using the best available techniques in the port are:
Results of total dust measurement inside the port
Total dust concentration has been monitored at ten locations within the port since 2002. The average annual dust concentration in 2023 was 104 mg/m2 per day, a decline of 10 mg/m2 from 2022 and within the set target. 6 exceedances were recorded in 118 measurements, which is more than the target value (5 exceedances), and the target was only partially achieved. The values were most often exceeded at the measuring points in the immediate vicinity of the coal and iron ore dump, while one exceedance was measured in the direction of Bertoki due to the immediate vicinity of a construction site.
In the port area, the concentrations of fine particulate matter with particles up to 10 μm (PM10) and up to 2.5 μm (PM2.5) are monitored by the University of Primorska. The first measuring device installed in the port has been monitoring PM10 particles since 2003. Over the years, the number of measuring stations has increased, and the devices have been updated in such a way to enable the monitoring of particles smaller than 10 μm.
Results of PM10 particle measurements provided by the devices in the port that allow for automatic online display (LKP Ankaran and LKP Koper) are available on the website http://www.zivetispristaniscem.si/. As a comparison, the Company also displays the results of measurement by a device installed in Markovec, which is managed by the Slovenian Environment Agency.
Results of measurement of particles up to 10 μm (PM10)
Image: Measuring devices for monitoring fine dust particles
values and the most exceedances were measured at the measuring point in the direction of Bertoki. We note that the increase in particulates is due to the close proximity of construction sites, as a new car storage area was being developed and a new truck terminal was being built in 2023.
| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Monitoring point No 3 – LKP Ankaran | 15 | 16 | 14 |
| Monitoring point No 2 – towards Bertoki | 17 | 21 | 22 |
| Monitoring point No 4 No – LKP Koper | 16 | 16 | 14 |
A comparison of measurements carried out by The Slovenian Environment Agency in different locations in Slovenia shows that daily exceedances of the limit value occur at all measuring points. The nearest monitoring station outside the port is located in Markovec, where the annual average PM10 concentration was 17 μg/m3 and 12 exceedances of the daily concentration limit were recorded. Most exceedances are generally observed in winter and are due to higher emissions from domestic combustion sources and meteorological effects such as low wind speeds and low mixing heights.
*Source: http://www.arso.gov.si/zrak/kakovost%20zraka/podatki/
Wind speed is expressed in m s-1. Winds mostly blew from the east and northeast (bora and burin) and from the northwest (maestral).
| JAN | FEB | MAR | APR | MAJ | JUN | JUL | AVG | SEP | OCT | NOV | DEC | TOTAL | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Celje hospital | 1 | 9 |
| Celje Ljubljanska | 0 | 7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 8 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Hrastnik | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| IB Gregorčičeva | 1* | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6* |
| IB Rečica | 0* | 2 | 0 | 0 |
| Koper | 2 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kranj | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 6 |
| Ljubljana Bežigrad | 0 | 10 | 0 | 0 | 0 | 0 |
| Location | Value 1 | Value 2 | Value 3 | Value 4 | Value 5 | Value 6 | Value 7 | Value 8 | Value 9 | Value 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ljubljana Celovška | 0 | 0 | 0 | 1 | 3 | 14 | 0 | 0 | 0 | 0 |
| Ljubljana Vič | 1 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maribor Titova | 2 | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maribor Vrbanski | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 5 | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 6 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 13 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|
| City | Value 1 | Value 2 | Value 3 | Value 4 | Value 5 | Value 6 | Value 7 | Value 8 | Value 9 | Value 10 | Value 11 | Value 12 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Novo mesto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Ptuj | 0 | 5 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 2 | 8 |
| Trbovlje | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 7 | |
| Velenje | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
*Source: http://www.arso.gov.si/zrak/kakovost%20zraka/podatki/
The data for 2023 has not yet been finally confirmed by the Slovenian Environment Agency.
At two locations in the port (Monitoring point No 4 - LKP Koper and Monitoring point No 3 - LKP Ankaran), PM2.5 particles are also monitored. The results are presented in the table below. The average annual concentrations of PM2.5 at the two measuring points in the port are below the regulatory value of 20 μg/m3 (Decree on ambient air quality (Official Gazette of the Republic of Slovenia, No9/11, 8/15, 66/18 and 44/22 - ZVO-2)).
| Year | Monitoring point 4 No – LKP Koper | Monitoring point No 3 – LKP Ankaran |
|---|---|---|
| 2021 | 11 | 11 |
| 2022 | 12 | 12 |
| 2023 | 12 | 11 |
Source: http://www.arso.gov.si/zrak/kakovost%20zraka/podatki/
PM2.5 measurements within the port area are comparable to other urban areas in Slovenia. Iskrba in the Kočevsko Region is a monitoring point that represents a location with minimal impacts, being distant from all sources. We also obtained online data from the port of Los Angeles, where, between January and August 2023, the PM10 particle concentration was between 15 and 28 μg/m3. There, the statutory annual limit is lower, only 20 μg/m3 (https://www.portoflosangeles.org/environment/air_quality.asp). PM2.5 concentrations ranged between 3 and 7 μg/m3 (limit value 12 μg/m3), which is lower than measured in the Port of Koper or elsewhere in Slovenia.
These measurements are prescribed in the environmental permit No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022 and are carried out by an authorised organisation, the National Laboratory of Health, Environment and Food, in the immediate vicinity of the source of the stationary installation where dust may be generated (e.g. during loading/unloading of wagons, lorries). There are several monitoring points at each terminal. The number of measurements varies from year to year, either due to the volume and type of throughput, or due to changes in legislation. Limit values depend on the mass flow rate and consequently on the weather. The results are all compliant with the granted environmental permit. The limit value for particulate matter concentration is 20 mg/m3, as the total dust mass flow rate is equal to 200 g/h.
Presentation of the results of measuring emissions from combustion plants used for technological purposes. In the port area, there are combustion plants used for technological purposes that still use fossil fuels. The combustion plant for heating the tanks in the facility for collecting marine oils, i.e. the bilge plant, is not in operation as there is no need to operate it. The results of the operational monitoring of the quality of exhaust gases from these installations are presented in the tables below and are in accordance with the environmental permit No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022. The limit values shown are taken from the environmental permit referred to above.
| Substance | Maximum value (mg/m3) | Mean value (mg/m3) | Limit value (mg/m3) |
|---|---|---|---|
| Carbon monoxide | 86 | 65 | 80 |
| Nitrogen oxides expressed as NO2 | 94 | 84 |
| Substance | Maximum value (mg/m3) | Mean value (mg/m3) | Limit value (mg/m3) |
|---|---|---|---|
| Carbon monoxide | 30 | 23 | 100 |
| Nitrogen oxides expressed as NO2 | 96 | 91 | 200 |
| Sulphur oxides expressed as SO2 | \<LOQ | \<LOQ | 35 |
LOQ…the measured value is below the determination limit of the analytical method
In the port area, there are 11 boiler rooms where fuel oil or liquefied petroleum gas (LPG) is used as primary or reserve energy source for the purposes of heating facilities and preparation of hot sanitary water. Emissions from these devices are checked by the chimney sweeping service. The results of atmospheric emissions are in compliance with the legislation for small combustion plants (Decree on the emission of substances into the atmosphere from small combustion plants (Official Gazette of the Republic of Slovenia, No46/19 and 44/22 - ZVO-2).
In 2023, the following was implemented:
The following was not implemented in 2023:
The following will be implemented in 2024:
The risk management system is described in more detail in Chapter 14 ‘Managing risks and opportunities’. The planned activities and guidelines are integrated into the Company's strategic and annual plans. Objectives and indicators related to climate change are shown in Chapters 19.8.8 ‘Results of greenhouse gas emissions’ and 19.11 ‘Energy use and energy efficiency’ and are checked quarterly.
The Company’s operations can have positive or negative impacts, the latter when not implementing measures to achieve greater energy efficiency, using renewable energy sources, or following modern technologies. The Company's impacts on greenhouse gas emissions are negligible at the global level, but significant at the local and national levels, as they contribute to achieving national greenhouse gas emission targets. Although the Company is not a member of associations or alliances addressing climate change, its employees are regularly trained and educated in this field. A short animated film was also made for a simple presentation of activities for the rational use of energy and resources.
The identified climate risks and opportunities have not changed the Company's business model, whereas the Company's strategy has already been adjusted and is also oriented towards energy efficiency, emission reduction and resource efficiency, and the use of renewable energy sources. We are aware of the opportunities associated with the efficient use of resources, which also leads to savings. It is known that trees play an important role in capturing carbon dioxide (CO2) from the air, therefore, we plant them in the port where possible, thus at least partially compensating for land use changes when carrying out port expansions.
In our operation, we need drinking water for sanitary and technological purposes, which is described in more detail in Chapter 19.12 - ‘Drinking water and groundwater management’. When developing new areas, we build at the appropriate height, taking into account the flood risk. With regard to human resources, we estimate that due to the rise in atmospheric temperature, it may be necessary to adjust the way of working outdoors in the future.
In the future, based on the adopted National Energy and Climate Plan and the European Green Deal, we can expect that we will have to accelerate the transition to alternative drives. Energy and climate targets are basically set at the EU level, i.e. as targets to be achieved by the EU as a whole. In the Company's strategic documents, we are committed to achieving targets at the level of the Republic of Slovenia.
Source: Integrated National Energy and Climate Plan of the Republic of Slovenia (NEPN)
Countries such as the Republic of Slovenia, which have a relatively small energy system and a high initial share of RES, find it much more difficult to progress than others (even in the case of greater potentials and available financial resources), as a low share of RES in transport requires much higher shares in heat and electricity, which are often also unattainable. The introduction of RES in transport is extremely demanding in technical terms, as it is limited by various standards (distributors have to mix biofuels into fuels, e.g. a maximum of 7 percent of biodiesel can be mixed into diesel).
By 2028, we plan to have installed in the port solar PV plants with the capacity of approximately 7 MWp in order to generate up to 21 percent of electricity for own consumption. By 2030, we plan to have installed solar PV plants with the capacity of approximately 10 MWp, which represents about 35 percent of the current electricity consumption of the entire port. With the gradual electrification of ground equipment, the construction of the 110 kV Luka Koper, d. d. transformer station, and the consequent increase in the port's connected load, thus enabling increased electricity production from solar power plants, we expect to meet the target of 27 percent energy consumption from renewable sources as defined for the Republic of Slovenia.
Regarding the achievement of the energy efficiency target (EE), we are currently recording and calculating the effects of already implemented activities (in %) compared to the reference year 2007, as our strategic guidelines are aimed at the target set for the Republic of Slovenia (at least 35 percent). With regard to EE, an ISO 50001-compliant energy management system was introduced in 2020, we will continue to implement energy audits, we have classified port facilities into energy classes, and have been reducing the proportion of transhipment equipment.
69 GRI 2-23, 201-2, 3-3, 303-1, 303-5
powered by internal combustion engines.
The risk of storms and extreme weather events materialised several times in 2023. Due to extreme weather events such as wind and heavy rainfall, we suffered damage and an employee was injured due to a lightning strike, but there were no environmental impacts. In 2024, we will prepare a landscaping project to prevent future flooding in the port. We are working with the Slovenian Environment Agency with regard to sudden winds ahead of storms, as we would like to receive more accurate weather forecasts, and we have updated our internal instructions for action.
| Risk description | Type of risk | Time horizon | Probability | Consequences | Response methods |
|---|---|---|---|---|---|
| Tightening of environmental policy requirements at the level of the EU and Slovenia to reduce emissions and mitigate climate risks | Environmental policy transition risk and legal risks | Long term | 10 years | Medium | * Emission allowance payments for large energy consumers |
| * Penalties in case of non-compliance with emission commitments | |||||
| * Energy price increase (10%) would result in EUR 1.2 million additional energy costs | |||||
| * ISO 50001 compliant energy management system | |||||
| * Agreement with ELES electric power transmission company on the construction, co-financing and investments sharing of a connection line to the port | |||||
| * Construction of Luka Koper, d. d., 110,000 V transformer station (EUR 9.8 million) | |||||
| * Construction of infrastructure to enable ships in the port to connect to the electricity grid (EUR 96) | |||||
| --- | |||||
| # Physical Risks and Mitigation Measures |
| Physical risk | (acute) | Medium-term | (5 years) | Very high |
|---|---|---|---|---|
| In the event of major disasters and consequent water ingress into warehouses and strong windstorms, damage may amount up to EUR 1.2 million. Costs also include damage to goods and interruptions of work due to wind. | ||||
| - Insurance | (EUR 1.5 million insurance premium per year) | - Update of wind metering systems and notification systems | - Action to be taken in accordance with the instructions on preventive measures and measures in case of emergency weather conditions | - Preparation of a proposal with a set of additional measures to protect against extreme weather phenomena |
| - Costs of installing additional cleats |
| Physical risk | (chronic) | Long-term | (10 years) | Low |
|---|---|---|---|---|
| Assuming sea level rise, adaptation costs would be high. The Company currently lacks sufficient information to quantify the risk. | ||||
| - Construction in accordance with the national spatial plan, which |
| Physical risk (chronic) | Medium-term (5 years) | High |
|---|---|---|
| The scarcity of natural resources can lead to a rise in the price of these commodities or to the inability to supply ships with drinking water. A 10-percent increase in water prices would mean an increase in costs for Luka Koper d. d. of EUR 0.1 million. | ||
| - Rehabilitation of the internal water supply network | - Use of sea water in firefighting | - Shortage contingency plans in place |
| Physical risk (chronic) | Medium-term (5 years) | Medium |
|---|---|---|
| The company currently lacks sufficient information to quantify the impact of rising average temperatures on productivity. | ||
| - Procurement of mobile equipment with air conditioning | - Ensuring adequate premises for the protection of employees | - Cold drinks and distribution to work sites |
| Transition risk – market risks | Medium-term (5 years) | Medium |
|---|---|---|
The most exposed commodity groups are thermal coal and alumina. The estimated impact is a loss of annual revenue of EUR 1 million.
| Type of opportunity | Time horizon | Probability | Consequences/Benefits | Response methods |
|---|---|---|---|---|
| Increase in transhipment of some new product groups due to regulatory requirements, environmental targets and changes in consumer behaviour | Medium-term (5 years) | High | Opportunities are emerging for transhipment of semi-steel products, wind turbines, solar panels, batteries, electric cars. Opportunities represent EUR 6 million additional revenue per year. | Marketing activities to acquire new business. |
| Energy efficiency savings | Medium-term (5 years) | Very High | In 2030, the estimated savings at the annual level will amount to EUR 1.6 million and GHG emissions will be lower by 3,200 metric tons. On average, the cost of energy in the transition from fuel to |
electricity is reduced by EUR 50,000 per year per each RTG crane.
The gases discussed below additionally include carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O), produced as a result of fuel combustion to power the port machinery, fuel consumption for heating, and, indirectly, use of electricity for processes in the port. In order to compare and add up the different greenhouse gases, they must first be multiplied by their global warming potential (GWP), which is expressed as a ratio to the greenhouse effect of CO2.
The calculation follows the methodology, requirements and guidelines of the Greenhouse Gas Protocol and Corporate Accounting and Reporting Standard (hereinafter: GHG Protocol), which is the most widely used international tool for measuring, reporting and managing GHG emissions. The GHG Protocol, developed by the World Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD), is a neutral methodology for calculating GHG emissions or carbon footprint and is compatible with most existing GHG programmes and their accounting and reporting requirements. In addition to the requirements of the GHG Protocol, the requirements of ISO 14064-1:2018: Greenhouse gases - Part 1: Specification with guidance at the organisation level for quantification and reporting of greenhouse gas emissions and removals have been taken into account in the development of the methodology.
An organisation's carbon footprint is reported in three scopes according to the GHG Protocol, as follows:
from sources owned or controlled by Luka Koper d. d. (e.g. boilers, harbour machinery, vehicles, etc.), and includes the consumption of all combustion fuels, fuels for machinery, machinery and vehicles, as well as fugitive emissions from air-conditioning and other installations. With regard to cooling and air-conditioning equipment and devices containing fluorinated (ozone-depleting, HFC) greenhouse gases, 423 kg of leakages were recorded in 2023, an increase of 48% compared to 2022.
Scope 2 emissions are indirect emissions from the consumption of electricity for the operational needs of Luka Koper, d. d. Scope 2 emissions are indirect because they do not physically occur within the organisation, but at third-party producers of network energy products or where electricity or heat/cooling energy is generated. In the case of Luka Koper, d. d., Scope 2 covers emissions from the purchase of electricity from suppliers and from own generation at solar power plants. The calculation uses the national electricity emission factor for the year under consideration published by the Jožef Stefan Institute in Ljubljana and not the factor provided by the electricity supplier as these are subject to change and thus the factors vary (i.e. the location-based method of calculation is chosen rather than the market-based method).
Scope 3 comprises the remaining indirect emissions resulting from the Company's activities along the entire value chain of the organisation, namely the supply chain (upstream emissions) and the distribution chain (downstream emissions). Due to requests from some stakeholders to also report Scope 3 GHGs, only the most significant emission sources have been shown for 2022 and 2023 and assessed against available data and factors, which are further explained below on an item-by-item basis. For Scope 3, we have limited ourselves to the port area and considered the three largest sources that result from the operation of the port and are not wholly owned or controlled by the Port of Koper, d. d.:
The emission factors used for the carbon footprint calculation (scopes 1, 2, 3) are taken from publicly available national data from the Ministry of the Environment, Climate and Energy, Slovenian Environment Agency, and the emission factor for electricity is the default of the most recent five-year average factor published by the Jožef Stefan Institute’s Energy Efficiency Centre.
| Year | Total consumption [MWh/year] | Emission factor [kgCO2eq/kWh] | Total emissions [kgCO2eq/year] |
|---|---|---|---|
| Direct emissions (scope 1) | 45,956 | 12,641,253 | |
| Motor fuel | 45,308 | 0.267 | 12,044,000 |
| Light fuel oil | 366 | 0.267 | 97,826 |
| Liquefied petroleum gas - LPG | 125 |
| Source | Total consumption [MWh/year] | Emission factor [kgCO2eq/kWh] | Total emissions [kgCO2eq/year] |
|---|---|---|---|
| Direct emissions (scope 1) | 52,955 | 14,852,330 | |
| Motor fuel | 51,165 | 0.267 | 13,648,872 |
| Light fuel oil | 376 | 0.267 | 100,381 |
| Liquefied petroleum gas - LPG | 156 | 0.227 | 35,445 |
| Wood biomass | 1,257 | 0 | 0 |
| Greenhouse gases | 1,067,631 | ||
| Indirect emissions (scope 2) | 29,617 | 0.358 | 10,602,850 |
| Electricity | 29,617 | 10,602,850 | |
| Electricity - own production SPP |
75,292
22,234,224
| TOTAL (1+2) | 82,572 | 25,455,179 | ||
|---|---|---|---|---|
| Other indirect emissions (scope 3) | 72,385 | 19,326,868 | ||
| Emissions from trucks entering the port | 5,989 | 0.267 | 1,599,027 | |
| Emissions from towing vessels | 14,439 | 0.267 | 3,855,276 | |
| Ship emissions while at berth in port | 51,957 | 0.267 | 13,872,565 | |
| TOTAL (1+2+3) | 154,957 | 44,782,047 |
| Total consumption [MWh/year] | Emission factor [kgCO2eq/kWh] | Total emissions [kgCO2eq/year] | |
|---|---|---|---|
| Direct emissions (scope 1) | 51,966 | 15,173,788 | |
| Motor fuel | 49,903 | 0.267 | 13,312,183 |
| Light fuel oil | 336 | 0.267 | 89,685 |
| Liquefied petroleum gas - LPG | 169 | 0.227 | 38,279 |
| Wood biomass | 1,558 | 0 | 0 |
| Greenhouse gases | 1,733,641 | ||
| Indirect emissions (scope 2) | 32,951 | 11,796,438 | |
| Electricity | 32,951 | 0.358 |
| 11,796,438 | 150 | Annual report 2023 | Long-term sustainability of the natural environment |
|---|---|---|---|
| Electricity - own production SPP | 325 | 0 | 0 |
| TOTAL (1+2) | 84,917 | 26,970,226 | |
| Other indirect emissions (scope 3) | 67,174 | 17,935,492 | |
| Emissions from trucks entering the port | 6,342 | 0.267 | 1,693,217 |
| Emissions from towing vessels | 13,862 | 0.267 | 3,701,121 |
| Ship emissions while at berth in port | 46,971 | 0.267 | 12,541,154 |
| TOTAL (1+2+3) | 152,091 | 44,905,718 |
In 2005, Luka Koper, d. d. generated 16,637,111 kgCO2eq for its operations, and in 2023, 26,970,226 kgCO2eq, which means a 62.1-percent increase in GHG emissions compared to an 84.3-percent increase in shipping compared to the base year 2005. Scope 3 emissions were 7.2 percent lower in 2023 compared to the 2022 base year. Specific GHGs emissions (scope 1, 2) in 2023 were 1,304 kgCO2eq/t of transhipped goods.
Based on efficient energy use and further investments in obtaining renewable energy sources, Luka Koper, d. d., will follow the National Energy and Climate Plan target for reducing greenhouse gas emissions. The baseline specific value was set to the value of emissions per metric ton of goods transhipped in 2017, when this amount was reported for the first time in the GRI report.
Total emissions (Scope 1, 2) increased by 6.0 percent in 2023 compared to the previous year, despite a 2.8-percent decrease in transhipment volumes, mainly due to higher electricity consumption. The set specific target value was exceeded in 2023.
The main source of diffuse emissions of volatile compounds in Luka Koper, d. d., includes varying handling activities on the liquid cargoes terminal (e.g. filling and emptying mobile or stationary reservoirs, breather valves on reservoirs). As reservoirs have no standard stack to discharge waste gases into the atmosphere, measurement is not possible. However, using software developed by the United States Environmental Protection Agency (EPA), an authorised person can calculate the annual emissions of volatile compounds. In the calculation process, the characteristics of the reservoirs, the type and amount of the material stored, and meteorological data are considered. No limit values are stipulated.
| In 2023, annual losses of volatile compounds from reservoirs on the liquid cargoes terminal included: | |
|---|---|
| Gas oil | 2,076.7 kg |
| o-Xylene | 0 kg |
| Jet fuel | 4,361.2 kg |
| Methanol | 859 kg |
(Official Gazette of the Republic of Slovenia, No 31/07, 70/08, 61/09, 50/13, 44/22 – ZVO-2 and 48/22).
The results are presented in the table below and are in accordance with the environmental permit No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022. The limit values shown are taken from the environmental permit referred to above.
| Substance | Maximum Value 2021 | Mean Value 2021 | Limit Value | ||||||
|---|---|---|---|---|---|---|---|---|---|
| mgC/m3 | gC/h | mgC/m3 | mgC/h | mgC/m3 | gC/h | mgC/m3 | mgC/h | mgC/m3 | |
| TOC* | 2.8 | 0.1 | 2.8 | 0.1 | 50 | ||||
| Methanol | 7.5 | 0.4 | 7.4 | 0.4 | 20 |
| Substance | Maximum Value 2022 | Mean Value 2022 | Limit Value | ||||||
|---|---|---|---|---|---|---|---|---|---|
| mgC/m3 | gC/h | mgC/m3 | mgC/h | mgC/m3 | gC/h | mgC/m3 | mgC/h | mgC/m3 | |
| TOC* | 2.8 | 0.1 | 2.6 | 0.1 | 50 | ||||
| Methanol | 18.02 | 0.9 | 18.02 | 0.9 |
| Substance | Maximum value | Mean value | Limit value |
|---|---|---|---|
| TOC* | 47.6 mgC/m3 | 2.8 gC/h | 50 mgC/m3 |
| Methanol | 25 mgC/m3 | 1.5 gC/h | 20 mgC/m3 |
Various wastes are generated during the operation of the port and are collected separately in Luka Koper and recycled or handed over to authorised organizations. Within the port, waste collection is mainly carried out by Luka Koper INPO, d. o. o., which is part of the quality system of Luka Koper, d. d. It is bound by its contract with the parent company, legislation and annual internal audits to ensure waste management compliance. All waste collected is then transported from the port to the contractual and authorised collectors. Contractual partners have provisions in the contract that oblige them to ensure proper environmental management of waste, although they are already obliged to do so under the Decree on waste (Official Gazette of the Republic of Slovenia No 77/2022).
Three groups of waste are generated in the port:
We have no influence on the type and quantity of packaging waste, as we are not the owner of the cargo. With the company's focus on car and container throughput, the type and volume of waste will decrease over time, as these two commodity groups generate little packaging waste. We also have no influence on the amount and type of waste generated on board, as we have no competence there. Ships that have waste incineration or other systems in place, submit smaller quantities and fewer types of waste. It is our duty to take waste and ensure that it is managed in a way that minimises its impact on the environment. Separate waste collection containers are provided for all stakeholders in the port area, and some types of waste are reused (e.g. paper, some types of plastic, scrap iron).
The waste from vessels is handed over to authorised organizations for further processing. Thus, we care for cleanliness and improvement in environmental image, thereby increasing the economic efficiency of our operations. Generally, we insist on separate collection of waste already at its source, i.e. at terminals, by users of the economic zone and on ships. At the same time, we are looking for solutions to reuse or valuably use the waste generated. Such solutions have already been implemented for the use of paper sludge to reduce dust from coal and iron ore storage, the use of waste coal for heat production and the reuse of certain fractions of construction waste.
Improper waste management at the port can lead to emissions into waterways, dust emissions into the air and fires. Potential impacts from waste management are managed by ensuring adequate waste management areas with proper rainwater drainage, installed treatment plants, installed fire detection sensors, installed dust and noise emission monitoring devices, continuous equipment upgrading, implementing control, etc.
Photo: Matevž Bregar
The centre does not store combustible waste outdoors.
Photo: Matevž Bregar
The Waste Management Centre has an area for the pre-storage of hazardous waste (e.g. paint residues, varnishes, waste medicinal products from ships, batteries, oiled cloths, ash from ships, absorbents, etc.) that is generated in port area or taken over from ships. We forward those to authorised organisations.
The subsidiary Luka Koper INPO, d. o. o., collects marine oils at the bilge plant and hands them over to authorised organisations. For this activity, it is registered as a collector of this waste in the register of waste collectors under No 35469-54/2011-11 of 24 Sep 2012. There is also a process underway to increase the storage capacity of the facility.
As the bilge water collection facility and the Waste Management Centre contain hazardous waste which may lead to environmental pollution on a large scale (IED plant), in 2021, Luka Koper INPO, d .o. o. obtained permit No 35407-4/2020-14 of 16 July 2021 for both facilities.
never been handled in the port. Most of the waste originates from EU countries, and to a lesser extent from non-EU countries. In the port of Koper, goods or cargo, in this case waste, are explicitly stored only until the arrival of the ship. To the Company, goods or waste represent cargo like any other that travels through the port, where the Company acts only as one of the links in the transport and logistics chain. The scrap metals that are transhipped are classified as non-hazardous waste.
In 2023, a total of 68,567 metric tons of scrap metals of classification numbers 19 12 02 (ferrous metals) and 17 04 05 (iron and steel) were handled. The total quantities of scrap metals in 2023 increased compared to 2022, but within the permissible quantities defined in the environmental permit. We have detected in some shipments of scrap metals other metallic wastes not classified as scrap metals under classification numbers 19 12 02 (ferrous metals) and 17 04 05 (iron and steel). For the fractions separated, we made an assessment of the waste and returned part of it to the consignor and part of it to another authorised waste handler.
In 2023, we submitted an application to the Ministry to amend the existing environmental permit by introducing an additional metal waste treatment process at the existing site using the mechanical process R12 - Exchange of wastes for submission to any of the operations numbered R1 to R12, but the application has not yet been processed. Shipments of scrap metals were measured for radioactivity with the aim of verifying their legality. Also, records were kept on the shipments, dust emissions were recalculated, and waste rainwater emissions were measured.
Luka Koper, d. d., also holds an environmental permit, No 35444-2/2016-13 of 15 Jun 2017, for the R3-type processing of scrap paper pulp, which is mixed with water and applied over coal and iron ore to reduce dust. In 2023, 986.52 tons of paper pulp were used, a few tons less than in the previous year and within the quantities allowed by the environmental permit.
A total of 18,837 tons of waste was collected in the port area in 2023, including 4,445 tons of port waste (417 tons of hazardous waste, 3,758 tons of non-hazardous waste, 270 tons of mixed municipal waste), 2,628 tons of ship-generated waste (1,807 tons of hazardous waste, 698 tons of non-hazardous waste, including 123 tons of mixed municipal waste), and 11,764 tons of construction waste. The amount of port and ship waste has increased compared to 2022 (Figure 41). The amount of construction waste has decreased compared to 2022.
| Year | Waste type | in metric tons | |
|---|---|---|---|
| 2021 | Port waste | 3,670 | |
| Hazardous | 481 | ||
| Non-hazardous | 2,954 | ||
| Mixed municipal waste | 235 | ||
| 2022 | Port waste | 4,177 | |
| Hazardous | 271 | ||
| Non-hazardous | 3,639 | ||
| Mixed municipal waste | 267 | ||
| 2023 | Port waste | 4,445 | |
| Hazardous | 417 | ||
| Non-hazardous | 3,758 | ||
| Mixed municipal waste | 270 | ||
| Ship-generated waste | 2021 | 1,571 | |
| 2022 | 2,456 | ||
| 2023 | 2,628 | ||
| Hazardous | 849 | ||
| Hazardous | 1,307 | ||
| Hazardous | 1,807 |
| Port waste | Ship-generated waste | Construction waste | TOTAL | |
|---|---|---|---|---|
| Non-hazardous | 613 | 1,027 | 698 | 15,294 |
| Hazardous | 0 | 0 | 0 | 0 |
| Non-hazardous | 10,053 | 13,081 | 11,764 | 19,714 |
| Total | 15,294 | 19,714 | 18,837 |
Collected hazardous and non-hazardous waste is handed over from the Waste Management Centre and the bilge facility for subsequent management to specialized companies that have the appropriate permits for transport, processing or disposal of waste and are entered in the lists of the Slovenian Environment Agency (ARSO).
73
| Method | R10 | R3, R12, R13 | R5, R12, R13 | D9,13, R0302 | Incineration | Landfill disposal | D1 - DISPOSAL | Other disposal operations |
|---|---|---|---|---|---|---|---|---|
| Recycling | 819 | 0 | 11,511 | 0 | 0 | 0 | 270 | 393 |
| Recovery | 566 | 10,945 | 1,613 | 0 | 0 | 0 | 123 | |
| Other recovery operations | 1,613 |
| Not applicable | 0 |
|---|---|
| Not applicable | 0 |
| Not applicable | 0 |
| Other (other methods of handling) | 1,579 |
| Collection at specialized waste management companies that provide recovery or disposal operations - NOT TO BE DISPOSED OF | 698 |
| Collection at specialized waste management companies that provide recovery or disposal operations - NOT TO BE DISPOSED OF | 0 |
| NON-HAZARDOUS WASTE | 2,277 |
| Preparation for reuse | 4,028 |
| 0 | Not applicable |
| 0 | Not applicable |
| 0 | Not applicable |
| 0 | Recycling |
| Other recovery operations | 125 |
|---|---|
| Recovery according to D9,13, R0302 - NOT TO BE DISPOSED OF | 27 |
| Incineration | 0 |
| Landfill disposal | 0 |
| Other disposal operations | 0 |
| Other (other methods of handling) | 292 |
| Collection at specialized waste management companies that provide recovery or disposal |
| Collection at specialized waste management companies that provide recovery or disposal operations | 0 |
|---|---|
| Not applicable | 0 |
| Amounts of waste collected at the port | 4,445 |
| Hazardous Waste | 2,628 |
| Total | 18,837 |
The amount of mixed waste did not change significantly in 2023 compared to 2022 (by approximately 3 t).
In 2023, 11,764 tons of non-hazardous construction waste was generated, a decrease of 1,317 tons compared to the previous year. The types of construction waste are shown in the graph below.
In 2023, 2,628 tons of ship waste were taken over (1,807 tons hazardous, 698 tons non-hazardous, and 123 tons mixed municipal waste). Most ship-generated waste is regarded as hazardous waste. Ship-generated waste accounts for the largest share of hazardous waste in the port. It largely includes bilge oils with varying water contents, 1st category kitchen waste, oil-soaked wiping cloths, waste batteries, medicine, ash, etc.
In 2023, the largest share of hazardous marine waste was marine bilge oils, which were handed over to an authorised organisation abroad and in Slovenia, and all other hazardous marine waste was handed over to authorised organisations only in Slovenia.
The target of 93 percent of waste collected separately was exceeded by almost one percent, mainly due to increased removal of waste from the settling tank at the coal and iron ore terminal, railway sleepers, and the scrap iron clean-up across the port.
The following was not implemented in 2023:
The following will be implemented in 2024:
Due to its activity, the port generates noise. In accordance with the strategic guidelines for the development of the port and the adopted environmental policies, the Company continues its activities to manage and reduce the port’s noise levels.
we have set targets that are lower than current legislative requirements (Decree on limit values for environmental noise indicators; Official Gazette of the Republic of Slovenia, No 43/18, 59/19 and 44/22 – ZVO-2) The results of the 2023 noise reduction action plan are shown in Chapter 19.10.1 Noise emission results.
To measure noise, we use state-of-the-art measurement, monitoring and display techniques recommended by guidelines in this field. Detailed annual noise maps are made, showing noise areas in the port and its immediate surroundings. The noise map was produced using continuous and short-term measurements and noise propagation modelling. The noise map is intended to show noise propagation from a complex source, such as the port of Koper, to the immediate neighbours of the port and the surrounding area. It shows the calculated noise load based on the data on the sound power of the devices (mostly obtained on the basis of measurements, but partly calculated from the data on device capacities), as well as the traffic data in the area of Luka Koper, d. d., and the noise of traffic of the surrounding roads based on the annual average (traffic counting). A noise map gives a clear graphical representation of the noise load based on the data entered, while also taking into account the impact of local road traffic from the peripheral port area, which is an important source of noise. The map shows average annual noise levels of all sources of noise: road traffic, processes in the port, ships and other causes of noise located outside the port. The port area is classified as Level IV area of noise protection, within which we also monitor the noise level. In the noise maps, the black dashed line indicates the borders of the area. The immediate surroundings of the port, i.e. the area outside the port fence, are classified as Level III area of noise protection.
According to noise measurement and maps, the noise from the port most heavily affects the northern edges of the town of Koper. Therefore, the noise reduction activities that we prepare annually in the noise reduction action plan are mainly focused on noise reduction in the direction of Koper. In the past, we established a fund together with the Koper municipality that will allocate funds to improve the soundproofing of the residential buildings. As the operation of this fund has come to an end, a new agreement on the implementation of mitigation measures for the period 2024 to 2028 inclusive was adopted by the Management Board of Luka Koper d. d. and the Mayor of the Municipality of Koper in December 2023. Under the agreement, Luka Koper, d. d. will pay the municipality a grant of EUR 320,000 per year for the next five years, and the municipality will allocate these funds to the beneficiaries through a public tender for the implementation of mitigation measures. Noise levels should also be taken into account when drawing up detailed spatial plans for municipalities and local communities bordering the port.
The values of noise levels in the port area, measured at all three fixed site measuring stations (see Figure below), and the average annual measured values are shown in the table below. It displays the measured values of all noise sources (road transport, port processes, ships and other noise generators located outside the port, construction work).
| Year | Number of ships |
|---|---|
| 2021 | 1.551 |
| 2022 | 1.659 |
| 2023 | 1.642 |
| Towards Bertoki | |
|---|---|
| 2021 | |
| 2022 | |
| 2023 |
| Bertoki | Ankaran | Koper |
|---|---|---|
| Ld = 52 | Ld = 52 | Ld = 60 |
| Ld = 51 | Ld = 53 | Ld = 62 |
| Ld = 51 | Ld = 52 | Ld = 62 |
| Le = 50 | Le = 51 | Le = 60 |
| Le = 50 | Le = 52 | Le = 61 |
| L | e | =49 |
|---|---|---|
| L | e | =52 |
| L | e | =62 |
| L | n | =47 |
| L | n | =51 |
| L | n | =59 |
| L | n | =48 |
| L | n | =52 |
| L | n | =60 |
| L | n | =47 |
| L | N | =51 |
| L | n | =60 |
| L | den | =55 |
| L | den | =58 |
| L | den | =65 |
| L | den | =55 |
| L | den | =59 |
| L | den | =67 |
| L | den | =54 |
Key: Ld – day noise level, Le – evening noise level, Ln – night noise level, Lden – day-evening-night noise level
As internal noise target values to be achieved or maintained in front of the first residential buildings, Luka Koper, d. d., has set values that include all noise sources from the port:
The results obtained suggest that the night, evening, and day noise in front of the first residential buildings in Ankaran and Bertoki is within the set targets, and the same applies to the day noise in front of the first residential buildings of the Koper city centre. However, the targets are not achieved for the night and evening noise level in front of the first residential buildings in the Koper city centre.
| Year | DIRECTION | Unit | Internal target | Realisation | Achievement of internal target |
|---|---|---|---|---|---|
| 2023 | Noise level at night in the direction of Bertoki | dBA | 48 | 34 | YES |
| Noise level at night in the direction of Ankaran | dBA | 48 | 44 | YES | |
| Noise level at night in the direction of Koper | dBA | 48 | 54 | NO | |
| 2023 | Noise level by day in the direction of Bertoki | dBA | 58 | 38 | YES |
| Noise level by day in the direction of Ankaran | dBA | 58 |
| dBA | 58 |
|---|---|
| dBA | 53 | 36 |
|---|---|---|
| dBA | 53 | 45 |
|---|---|---|
| dBA | 53 | 56 |
|---|---|---|
The results of the noise level excluding ship-noise in front of the first buildings outside the port are also shown below. They all demonstrate compliance with the regulatory limit values from the environmental permit No 35450-18/2022-2550-4 of 4 Apr 2023 and the clean copy of imposition 35450-18/2022-2550-8 of 26 May 2023.
| Year | DIRECTION | Unit | Statutory value | Realisation | Compliance with the environmental permit in terms of noise emissions |
|---|---|---|---|---|---|
| 2023 | Noise level at night in the direction of Bertoki | dBA | 55 | 34 | YES |
| 2023 | Noise level at night in the direction of Ankaran | dBA | 55 | 41 | YES |
| 2023 | Noise level at night in the direction of Koper | dBA | 55 | 51 | YES |
| 2023 | Noise level by day in the direction of Bertoki |
| dBA | 65 | 38 | YES |
|---|---|---|---|
| dBA | 65 | 43 | YES |
|---|---|---|---|
| dBA | 65 | 53 | YES |
|---|---|---|---|
| dBA | 60 | 36 | YES |
|---|---|---|---|
| dBA | 60 | 41 | YES |
|---|---|---|---|
In order to verify the accuracy of the measurements, which showed that the agreement of the measurements was within the measurement uncertainty. The authorised contractor also created a model calculation to determine a realistic target value for the night noise level in the direction of Koper based on known data regarding the used machinery and traffic until 2027. The results show that the long-term noise levels in front of the exposed facilities at nighttime, excluding ships, will be lower than 55 dBA.
In Luka Koper, d. d., a Noise Reduction Action Plan is devised annually, specifying activities, the persons responsible for implementation, and deadlines for completion. The outcomes of the 2023 noise reduction action plan are shown below. In 2023, EUR 1,534,281.18 was spent on these noise reduction activities.
| Activity | Completion rate (%) |
|---|---|
| Carrying out additional noise measurements in and around the port | 100 |
| Keeping the local community informed of the ongoing investment plans of Luka Koper, d. d., with content to be prepared and coordinated in cooperation with the health protection and ecology department. | 100 |
| Communication with the shipping company in the event of noise-generating ships on the container terminal (container ships). | 100 |
Communication with the shipping company in cases of noise-generating Ro-Ro ships (car carriers).
| Training for employees (in the event of derogation, i.e. excess speed according to reporting in CIIS) | 78 |
|---|---|
| Due to the low number of violations (6 violations per year), there was no need for instruction, only a warning was issued. | 164 |
| The activity is continued in the Action Plan for 2024. |
Monitoring the noise level of each vessel berthing at Basin I using the measurement stations Terminal 3 (Storage facility No 15) and Terminal 4 (former metalworking school).
Vibration and ventilation noise measurements at storage facility No 5 at the reefer terminal.
Carrying out the action plan and communication with local communities of Koper municipality, the municipality of Ankaran and municipality of Koper in cooperation with the health protection and ecology department.
Redirecting ships that generate more noise to Basins II and III when possible (depending on the availability of berths, type of ship, and type of cargo).
Regular maintenance of the asphalt base and shafts in the container terminal handling area – rehabilitation of damaged concrete and asphalt coastal surfaces, reconstruction of access roads to the coastal structures.
The activity was not carried out due to the necessary larger scope of work in other activities and is transferred to the 2024 implementation plan. The activity is continued in the Action Plan for 2024.
Monitoring of speed (4 times per month) on the container terminal quayside in the evenings and in night-time, with a focus on terminal tractors, preparation of reports in CIIS and communication of breaches to the terminal and the health protection and ecology department.
Continuous noise monitoring and reporting to the Management Board on noise levels and on the implementation of measures from the action plan for noise reduction in the direction of Koper.
Annual funding under the agreement on the implementation of mitigation measures (installation of additional sound insulation to the nearest dwellings) in cooperation with the Municipality of Koper.
For the entire year 2023, shipowners (6.5%) included in the ESI system received EUR 34,532.56 in discounts.
Performing underwater noise measurements.
(Measurements are presented in the Chapter 19.16 ‘Sea Water Protection’)
referred to in point 8 and point 9 of the operative part of the granted environmental permit No 35450-18/2022-2550-8.
(replacement of worn-out equipment) for the needs of the container terminal
The public procurement procedure ended without an award, as no tenders were received. The repetition of the public procurement is planned for the beginning of 2024, and the delivery of tractors until the end of 2024.
Possibility of "anti-noise" integrated horticultural landscaping in the direction of Koper and the border part of the port towards Ankaran.
In the coming years, the construction of the passenger terminal building and the landscaping of the surrounding area will be carried out on the passenger terminal site.
In the direction of Ankaran, trees and shrubs will be planted at the port boundary alongside the construction of the storage areas of the last cassette.
These activities are part of the annual Noise Reduction Action Plan:
Luka Koper, d. d., has recognised the importance of electromobility, as it is the most efficient use of energy, including energy from renewable sources. Therefore, the Company is making rapid progress in building charging infrastructure for electric vehicles and introducing electric cars for use inside the port.
The company regularly upgrades its SCADA control system by installing metering and communication equipment for all large electricity consumers in the port.
Luka Koper, d. d., plans to step up its ongoing programme of investing in renewable energy sources to achieve some degree of energy self-sufficiency. A number of photovoltaic plants will be installed to become the primary source of renewable energy in the port.
Luka Koper, d. d. is part of the Ealing European project, the aim of which is to obtain project documentation for the construction of a connection point for the supply of Ro-Ro ships with electricity at the multi-purpose terminal. In 2023, consents were obtained for the construction of solar power plants on the roofs of warehouses 16, 19, 50 and 51, with a total rated capacity of 4.2 MW, and construction work started in December 2023.
Energy audits should be carried out regularly, therefore, in 2024, the Company will focus on targeted energy audits, depending on the discrepancies from the planned consumption of an energy source in each individual user group or section of the port.
The strategic orientation of Luka Koper, d. d., is to achieve high energy efficiency in all activities carried out in the port.
Luka Koper, d. d., has recognised energy efficiency as one of the key measures of the energy policy to enhance the competitiveness of the Company, and acknowledges that energy efficiency improvements make a significant contribution to greater security of supply and lower environmental impacts. Since 2020, the company has been certified according to the ISO 50001:2018 standard – Energy Management System.
The Environmental strategy and Safe and healthy port environment and energy efficiency policy represent guidelines for the implementation of all energy measures.
In 2023, the total energy consumption for Luka Koper, d. d. amounted to 306,871 GJ, of which 66,676 GJ (21.7%) was generated through the use of renewable energy sources (purchased electricity produced from RES, electricity produced by own solar power plants and energy produced from biomass). As required by the standard, energy is shown in Joules throughout the document and the calculation is made as the quantity consumed multiplied by the calorific value for each energy product. The port's operations are mainly fuelled by fossil motor fuel, which accounted for 58.5 percent in 2023. Electricity is the second most consumed energy product (39.0%). Energy produced from woody biomass, LPG and EL fuel oil accounts for only 2.5 percent, as it is only used for some technological purposes and for heating buildings and hot water. In line with the company's policy, fossil fuels for heating buildings are being phased out and the transition to RES heating is being made.
Luka Koper, d. d., has the strategic goal to build 6 MW of solar power plants by 2025, which will result in generating enough electricity to ensure up to 20 percent of our own consumption.
The calculations of energy and emission conversion values are based on typical net calorific values of individual energy sources for 2023, as stated by the Republic of Slovenia in its latest national greenhouse gas inventories submitted to the Secretariat of the United Nations Framework Convention on Climate Change (source: Slovenian Environment Agency).
In 2023, motor fuel consumption for Luka Koper, d. d. totalled 179,652 GJ. In motor fuel and electricity consumption, data is expressed as consumption per metric ton of throughput. The specific consumption of motor fuel in 2023 at 0.241 l/t was higher than in 2022 and deviates from the target (0.230 l/t) by 4.9 percent. In 2023, the absolute consumption of motor fuel was higher than planned and 6.4-percent higher compared to 2015, mainly due to machinery electrification, the use of diesel generators at the container terminal to connect refrigerated containers, whose throughput has been increasing sharply in recent years. The higher than planned consumption of motor fuel was also due to higher operating hours of the diesel generators on the eRTG bridge cranes due to problems with the APS connections.
Working processes in the port require abundant use of diesel-fuelled ground equipment. The largest consumers include terminal tractors, forklifts, rubber-tired gantry cranes (RTG), reach stackers, loaders, vehicles used for rail traction, passenger cars, and vans.
In 2023, the container terminal was the largest consumer, accounting for 66 percent of all motor fuel consumption in the port. With the purchase of new e-RTG and RMG cranes, and diesel-powered RTG cranes being replaced, motor fuel consumption at the container terminal will gradually decline. In purchasing new transport machinery, the Company follows the latest technological and environmental requirements.
In 2023, electricity consumption for Luka Koper, d. d., totalled 119.793 GJ. Specific electricity consumption is defined as electricity consumption per ton of cargo transhipped and does not include electricity consumption outside the organisation. We do not sell electricity. In 2023, the consumption was 1.59 kWh/t, which is 9.9 percent above the target (1.45 kWh/t). Absolute electricity consumption was higher than last year by 11.3 percent and higher than in 2015 by 52.5 percent, which is due to the progressive electrification of port machinery, increased handling of refrigerated cargo, and electricity consumption to power refrigerated containers. At the beginning of last year, three additional electric gantry cranes (e-RTGs) were put into operation at the Container Terminal.
In 2023, electricity consumption for the economic zone totalled 6,613 GJ. The consumption of electricity within the economic zone covers all subtenants and other companies in the area of the Koper port, which are connected to the internal electricity network of Luka Koper, d. d.
With energy efficiency activities carried out in 2023, we reduced fossil fuel consumption by 3,474 GJ and electricity by 294.30 GJ from 2022, thus reducing the emissions by 175,213 kgCO2eq and contributing to the improvement of the Company’s carbon footprint. Calculations of the reduced energy consumption are performed on the basis of measurements and the Rules on the methods for determining energy savings (Official Gazette of the Republic of Slovenia, No 57/21).
Photo: Kristjan Stojaković
In 2023, the following was implemented:
The following was not implemented in 2023:
The internal water supply network that brings drinking water to the port and comprises around 30 km of pipes, is maintained by the Company aiming to reduce losses. Drinking water is provided in its entirety by the public company Rižanski vodovod.
Drinking water is used for public utility purposes, for the supply of ships and for some industrial processes (e.g. wood soaking, food refrigeration, on construction sites, for vehicle and machinery washing, etc.). We have the water right (from May 2017) for the use of drinking water for industrial processes, but the consumption is significantly lower than specified in the permit. For the purposes of fire water pump testing, as a source of fire water, damping of the coal deposit handling area, etc., the groundwater is also used in the port (via a well), although it is brackish.
Hydrocarbons - BTX, polychlorinated biphenyls - PCBs, organotin compounds, polycyclic aromatic hydrocarbons - PAHs, phenolic index, mineral oils). Drinking water consumption is not directly dependent on throughput. The increased load on transport surfaces (increased traffic) results in more frequent damage to the water supply network. We are working to control leaks and are in the final phase of a five-year rehabilitation program for the entire port water system. A water consumption control system is in place, with meters connected to a computer in the control centre. When a leak is detected, remediation is started.
83
GRI 3-3, 303-1, 303-2, 303-3, 303-4, 303-5
| Annual amount of water (in 1.000 m3) | Notes |
|---|---|
| Source of water supply: | |
| From public water supply: | 158.896 Rižanski vodovod, water quantity is measured by meter |
| From own source: | 21.472 Port well, water quantity is measured by meter (the water is brackish; sodium value 4,020 mg/l) |
| Other: | 8.510 Precipitation (estimated) for technological wastewater The estimated water quantity is calculated from the product of the catchment area and the average rainfall. |
| Water supply - TOTAL: | 188.878 |
| Water consumption: | |
| Municipal wastewater: | 40.280 Municipal water drained into the public sewer 38,000 m3 (estimate), port small wastewater treatment systems total 2,280 m3 (19 small wastewater treatment systems, 120 m3 each, assessment). Municipal water from the small wastewater treatment systems is estimated using the following formula: , for other municipal water the same formula is used, except that the number of people is estimated, and visitors are also taken into account. |
| Industrial wastewater: | 13.068 See table in Chapter 19.13 ‘Types of wastewater in the port, annual amounts, and compliance with the law’ Industrial water, which is produced by the use of drinking water, is measured by meters. Industrial water, which is the result of precipitation, is estimated and calculated from the product of the catchment area and the average amount of precipitation. |
| Water incorporated into products, evaporated water: | 44.612 Assessment |
| Water loss due to system failure: |
In 2023, the following was implemented:
The following was not implemented in 2023:
The following will be implemented in 2024:
The port generates technological wastewater, the quality of which is measured by an authorised organization with built-in treatment plants at the outlet. Types of wastewater:
The container washing facility has an organized wastewater recycling system, which requires additional regular internal checks whether the treated wastewater meets the microbiological parameters of quality drinking water. According to the results, the device works effectively.
Limit values, parameters and sampling frequency for all devices were set by the Slovenian Environment Agency, and for plants with an outlet to the Koper Central Wastewater Treatment Plant by its operator, i.e. public utility company Marjetica, d. o. o., as is defined in the environmental permit (No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022). The treatment technology (possible addition of chemicals in the treatment process), specific legislative requirements regarding the types of wastewater and the location of the outlet (type of wastewater receiver) were taken into account.
designed to retain oils. Supervision of their operation is carried out by the contracting party, and the Company has determined the scope and manner of inspection and cleaning and emptying of oil interceptors. In addition, three sensors are installed inside the port area to detect the presence of oils in the sea, which is described in the Chapter 19.16 ‘Sea Water Protection’.
Municipal wastewater is treated with the help of 19 small treatment plants. Wastewater quality measurements are performed by an organization authorised by the Slovenian Environment Agency. In addition, internal control over the operation of devices is carried out, whereby we have determined the scope and method of their inspection and cleaning and emptying. The efficiency of operation is also checked indirectly by microbiological measurements of sea water quality in the port water area, which is described in the Chapter 19.16 ‘Sea Water Protection’.
Most of the remaining municipal wastewater is discharged to the Koper Central Wastewater Treatment Plant, which is managed by the public utility company Marjetica, d. o. o. The estimated volume of this wastewater is 38,000 m3.
84
| Type of wastewater | Annual volume (m3) in 2021 | Annual volume (m3) in 2022 | Annual volume (m3) in 2023 | Compliance of measurements with the environmental permit in the year 2023 |
|---|---|---|---|---|
| Stormwater runoff from the liquid cargo terminal on Pier I | 0 (No wastewater was released into the sea) | 0 (No wastewater was released into the sea) | 380 | Compliant |
| Stormwater runoff from the liquid cargoes terminal on Pier II | 2,300 | 2,300 |
| Source | Measurement (mg/L) | Status | Comments |
|---|---|---|---|
| Stormwater runoff from the liquid cargoes terminal on Pier II | 2,300 | Compliant | |
| Stormwater runoff from the storage of scrap iron on Pier II of the dry bulk terminal | 2,700 | Compliant | The scrap iron storage site was abolished, Since 2022, scrap iron has no longer been handled and stored at the location. Measurements are consequently no longer performed. |
| Stormwater runoff from the storage of scrap iron on Pier I of the dry bulk terminal | 3,500 | Compliant | |
| Stormwater runoff from the storage of scrap iron on Pier I of the dry bulk terminal, along the NAS9 Hall | 2,700 | Not compliant # | New scrap iron storage site |
| Stormwater runoff from the bilge water collection facility (facility managed by Luka Koper INPO, d. o. o.) | 214 | Compliant | Newly installed oil interceptor |
| Industrial wastewater from the livestock terminal | 263 | Compliant |
1,995
1,541
1625
In the wastewater, ammonium nitrogen exceeded the limit value for discharge into the sewerage network, while other parameters were below the prescribed limit values.
| 882 | 970 | 1121 | Compliant |
|---|---|---|---|
| 657 | 503 | 432 | Compliant |
|---|---|---|---|
| 39,040 | 40,040 | 40,280 | Compliant |
|---|---|---|---|
Measurements are taken at 19 outlets of small treatment plants.
From the area where the scrap iron is stored, stormwater flows through the oil interceptor into the sea. The measurements made showed elevated COD and BOD5 parameters, indicating organic contamination of the water. When determining the cause, we found that there is an intrusion of sea water, and the operation of the oil interceptor is less effective in such cases. We decided to install a new oil interceptor directly on this surface, i.e. at a level where it will not be affected by the sea. The existing oil interceptor was also emptied several times and the contents handed over to an authorised waste collector. The site only occasionally stores scrap iron, which is only kept on the surface for a few weeks, meaning that the wastewater is not constantly generated. The quantities of wastewater are small, so we estimate that there has been no environmental pollution.
In the industrial wastewater of the livestock terminal, of all the parameters, only ammonium nitrogen exceeded the limit value by 10%. As the wastewater flows into the Koper Central Wastewater Treatment Plant, where it is further treated, we estimate that the impact on the environment has been minimal, as the volumes of wastewater are also small. The cause of the increase has not been identified, but we assume that it comes from the secretions of livestock.
In 2023, the following was implemented:
an increase in the defined annual municipal wastewater generation volumes, as these are increasing due to the increase in the number of employees. The application has not yet been considered by the Environment Agency.
The following will be implemented in 2024:
Light pollution is governed by the Decree on limit values due to light pollution of environment, based on which all port lighting was adjusted years ago in such a way that the luminous flux is not pointed upwards. The causes of light pollution in the port include the lighting of storage areas, working sites, transport routes, and rails. While operations require adequate light levels according to rules for safety at work, this, on the other hand, impacts the environment. All lighting in the port area is designed to avoid upward shining and complies with the Decree on limit values due to light pollution of environment (Official Gazette of the Republic of Slovenia, No 81/07, 109/07, 62/10, 46/13 in 44/22 – ZVO-2). The legislation also requires regular updates to the lighting plan. The valid version of the plan, which was made to accommodate the additional lighting in the port area, dates from late 2021. It is published on the port website https://www.luka-kp.si/en/company/sustainable-development/zakonodaja-in-okolje/. The plan is being revised again and is expected to be completed before summer 2024. The changes to the plan generally refer to the replacement of existing lighting with new, more energy efficient LED lighting.
No activities were planned in this field.
The following will be implemented in 2024:
The content is partially presented in Chapter 19.3 ‘Living in harmony with the environment’, whereas the approach and results in the field of marine diversity are described below. Marine diversity can be affected directly or indirectly through the processes of sea sediment dredging, shipping, ballast water input, wastewater discharges, noise, etc. Indirect inflows are also monitored by measurements, the results of which are presented in the Chapter 19.16 ‘Sea water protection’.
No special agreements have been concluded for the marine part, as there are no dedicated protected species or marine areas operators.
A while ago, outside the concession area (off the coast of Ankaran), we started monitoring the environmental status indicator of two underwater grass species (dwarf eelgrass or Zostera noltei and little Neptune grass or Cymodocea nodosa) growing near the port (for results, see Chapter 19.3 ‘Living in harmony with the environment’). The monitoring is carried out in two ways, by monitoring leaf length (annual measurement) and by mapping the area (once every three years).
is a combination of two metrics based on the length of grass leaves, thus representing a method for a quick overview of underwater meadows in wide Mediterranean coastal areas.
| Station code | Latitude | Longitude | Type of grass |
|---|---|---|---|
| LuKp1 | 45°34.140' N | 13°44.215' E | Zostera noltei |
| LuKp2 | 45°34.350' N | 13°44.183' E | Cymodocea nodosa |
| LuKp3 | 45°34.551' N | 13°43.861' E | Cymodocea nodosa |
| MeZa | 45°32.306' | 13°36.607' | Cymodocea nodosa |
| Date | Monitoring point | MediSkew points | MediSkew sites | MediSkew meadows | Ecological status | Number of leaves measured | Number of adult leaves |
|---|---|---|---|---|---|---|---|
| 1.7.2021 | LuKp2_1 | 0.39 | 0.415 | 0.37 | good | 300 | 238 |
| 1.7.2021 | LuKp2_2 | 0.44 | 300 | 207 |
GRI 3-3, 304-1, 304-2, 304-3, 304-4
| Date | Sample | Value 1 | Value 2 | Value 3 | Quality | Count | Measurement |
|---|---|---|---|---|---|---|---|
| 1.7.2021 | LuKp3_1 | 0.26 | 0.325 | 300 | 231 | ||
| 1.7.2021 | LuKp3_2 | 0.39 | 300 | 212 | |||
| 11.7.2022 | LuKp2_1 | 0.60 | 0.550 | 0.50 | moderate | 300 | 279 |
| 11.7.2022 | LuKp2_2 | 0.50 | 300 | 286 | |||
| 11.7.2022 | LuKp3_1 | 0.51 | 0.450 | 300 | 276 | ||
| 11.7.2022 | LuKp3_2 | 0.39 | 300 | 269 | |||
| 5.7.2023 | LuKp2_1 | 0.34 | 0.395 | 0.37 | good | 300 | 232 |
| 5.7.2023 | LuKp2_2 | 0.45 | 300 | 223 | |||
| 5.7.2023 | LuKp3_1 | 0.33 | 0.342 | 300 | 263 | ||
| 5.7.2023 | LuKp3_2 | 0.36 | 300 |
| MeZa_1 | 0.087 | 0.12 | very good | 300 | 177 | 12.7.2023 |
|---|---|---|---|---|---|---|
| MeZa_2 | 0.1 | 300 | 186 | 12.7.2023 |
(source: Monitoring of the condition of sea meadows at Basin III of Luka Koper, d. d., National Institute of Biology, Marine Biology Station Piran)
The overall ecological status of the underwater meadow in the direction of Ankaran has improved in 2023 as compared to 2022 and is now assessed as good. The table also shows the seagrass leaf length results from the reference site of Moon Bay (MeZa_1,2), which is considered to be a site with minimal impacts.
In the Gulf of Trieste, Posidonia oceanica is only present in a small area off the Slovenian coast between Koper and Izola. It appears in the form of large fragments and small islands. The fragments of the Posidonia oceanica seagrass meadow are well developed and relatively uniform, but there are differences in terms of their immediate surroundings. In certain fragments, the Posidonia oceanica seagrass meadow continues into the biocenosis of photophilic algae, while in others it is surrounded by a dense meadow of little Neptune grass.
In early 2023, we mapped the habitat (determined its extent) of the Posidonia oceanica using bathymetric surveys and overwater and underwater video recording. In 2024, we will set up monitoring of this seagrass meadow, which will be carried out every two years and will include a comparative analysis with data from previous measurements.
Photo: Sirio, d. o. o.
In addition, we check the distribution of meadows of dwarf eelgrass (Zostera noltei) and little Neptune grass (Cymodocea nodosa) in the Ankaran area once every three years. The mapping, i.e., the delineation of the edges and extent of dwarf eelgrass (Zostera noltei) and little Neptune grass (Cymodocea nodosa) meadows will be carried out in 2024 and the results will be published in the next annual report. The frequency of checking the extent of underwater meadows is envisaged to increase to every 2 years.
As part of the monitoring of underwater meadows, a current meter was installed on a buoy within the port area in Basin III to monitor the direction and velocity of sea currents throughout the water column. The velocity of currents in 2023 is shown in the figure below. The speed of sea currents is highest at the surface.
The direction and strength of water currents are also important in understanding the transport of particles that increase sea turbidity. Increased turbidity of the sea is caused by natural phenomena (rain, wind, waves, sea blooms) as well as anthropogenic factors (shipping, dredging). Therefore, illuminance measurements are performed at locations where underwater meadows are located. The figure below shows the locations where illuminance measurements were also performed during seagrass growth.
| Loc1 (Luka KP) | Loc2 (Moon Bay) | Loc3 (bathing beach) |
|---|---|---|
| 0.52 | 0.54 | 0.54 |
| Date | 31.07.2023 |
| Date | Loc3 (bathing beach) | Loc2 (Moon Bay) | Loc1 (Luka KP) |
|---|---|---|---|
| 29.09.2023 | 0.32 | 0.34 | 0.26 |
| 14.07.2022 | 0.37 | 0.30 | 0.35 |
| 23.09.2022 | 0.36 | 0.31 | 0.30 |
| 10.08.2021 | 0.39 | 0.36 | 0.41 |
| 08.09.2021 | 0.50 | 0.36 | 0.35 |
The illuminance level is expressed as a relative value to the surface, where the value is 1. Measurements of illuminance (transparency of the sea) carried out at the end of July showed better results at all three locations, i.e. greater illuminance compared to 2022 and 2021, while the results of the measurements carried out in September do not differ significantly.
Quarterly monitoring the quality of water in the strait that crosses the port and connects the sea to Škocjanski Zatok was continued. In all measurements to date, the mineral oils index was less than 20 μg/l, which is in line with the set target and an indicator that there has been no water pollution from stormwater discharges from the port's paved areas.
In 2023, the following was implemented:
The following was not implemented in 2023:
The following will be implemented in 2024:
In accordance with the Concession Agreement for the performance of port activity, management, development and regular maintenance of the port infrastructure in the area of the Koper cargo port, Luka Koper, d. d., regularly carries out activities to prevent and eliminate consequences of marine pollution.
An important part of the public utility service performed by Luka Koper, d. d., is regular inspections of the port water area and the removal of driftwood, debris, waste and other abandoned and discarded objects from the sea. To this end, Luka Koper, d. d., has special dedicated equipment and vessels, as well as adequately trained staff.
Considering the capacities and loads that result from port operations, Luka Koper, d. d., may mobilise its staff and resources for the process of preventing and addressing the impacts of sea pollution outside the port, thus assisting the relevant state bodies.
In the event of incidents at sea, Luka Koper, d. d., acts in compliance with the applicable Protection and rescue plan of Luka Koper, d. d. for industrial accidents, which defines minor, medium-sized and major accidents.
Figure: A view of the cleaning of debris throughout the Luka Koper, d. d., port water area and the installation of spill socks in the Basin II.
Photo: Maritime unit Luka Koper INPO, d. o. o.
In all instances of marine pollution, Luka Koper, d. d., acted in accordance with the Means and Resources Activation Scheme for Minor Accidents, and remedied the effects of pollution within the concession area.
The Marine Protection Unit of Luka Koper, d. d., participated in the training for the performance of protection, rescue and assistance tasks in the event of ecological and other disasters at sea. The objective of the training is to carry out practical activities in segments to limit the spread and clean-up of pollution at sea. The most important part was the towing, splicing and anchoring of water barriers to contain the slick and prevent its further spread.
The International Convention on Oil Pollution Preparedness, Response and Co-operation was adopted under the International Maritime Organisation (IMO), and later supplemented by a protocol for pollution by harmful and hazardous substances. Based on this Convention, the IMO has developed a series of training programmes on marine pollution planning, response and management. These programmes are delivered at three levels, according to the tasks, competences and responsibilities of the participants. All Luka Koper Group employees working in the field of marine safety are required to obtain and renew their certificates every 36 months. Prior to the Sea 2023 exercise, initial and refresher training was conducted for employees of Luka Koper d. d. and Luka Koper INPO d. o. o.
In accordance with the Protection and Rescue Plan, the Sea 2023 exercise was organised and successfully carried out in 2023. It was based on the assumption that a car carrier had departed from Basin II at high speed and a tanker was not properly moored at the silo berth. As a result, the loading arm was damaged and disconnected, and fuel was released into the sea. The fuel was contained by a protective float curtain boom and cleaned by the Kormoran and Seagull environmental vessels. The movement or propagation of the slick was predicted using a marine simulator.
Figure: Participants gathering by the sea at the end of the ‘Sea 2023’ exercise.
Photo: Jure Barovič
The Luka Koper group also participated in the international exercise of joint Slovenian, Italian and Croatian intervention in the event of an accident at sea. The exercise tested preventive measures and preparedness, and its main objective was to test the activation and communication of units and the coordination for a joint and coordinated response of all available capabilities in the event of a large-scale pollution incident in the North Adriatic. The exercise was led by the Italian Coastguard, and on the Slovenian side, participation in the exercise was coordinated by the Civil Protection Headquarters for the Coastal Region. There were over 100 participants, including the Luka Koper Group.
| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Number of identified incidents at sea | 43 | 51 | 34 |
| Number of interventions in the port water area | 40 |
In 2023, 34 minor events were recorded in the port water area, all of which were controlled at the location of occurrence or detection and in no case had an impact on the environment. Most of the incidents were related to the occurrence of large quantities of wood and other debris carried to the port water area of Luka Koper, d. o. o., by the River Rižana or from the open sea.
Recently, Luka Koper, d. d., has been organising workshops for all new employees as well as others, to emphasise the importance of preventing the occurrence or immediately detecting even the smallest pollution at sea, reporting it to the Safety and Control Centre (SCC) of Luka Koper, d. d., and taking immediate action. The SCC initiates an intervention and reports it in the CIIS system upon any pollution sensor alarm or radar detection and upon all calls.
In 2023, the number of incidents was lower than in the previous year, which can also be attributed to informing all employees of the importance of incident prevention and the implementation of certain measures to reduce coal dust marine pollution in Basin III.
The REBEKA state-of-the-art measuring equipment for monitoring sea water quality is located in front of the entrance into the port’s Basin III. The results are displayed on the website http://www.zivetispristaniscem.si/. The buoy continuously monitors the general parameters of sea water. The table below shows the measured values. No limit values are stipulated.
(locations of the Rebeka stationary measurement buoy, three stationary measurement devices and a radar for monitoring possible spills of oil products)
| Year | Sea temperature (°C) | Salinity (g/l) | Oxygen content (mg/l) | pH |
|---|---|---|---|---|
| 2021 | between 10 and 30 | between 35 and 38 | between 6 and 12 | between 8.2 and 8.5 |
| 2022 | between 11 and 30 | between 35 and 43 | between 3 and 9 | |
| 2023 | between 8.8 and 28.6 | between 33.8 and 39.7 | between 5.13 and 8.77 |
The results of the measurements of the general sea quality parameters do not vary significantly between from year to year, with only slightly higher turbidity values recorded, which are partly related to sensor vegetation. No limit values are defined.
The monitoring of the microbiological parameters of sea water quality continued in all three basins of the port. Legislation relating to the monitoring of the microbiological quality of seawater is only mandatory for bathing sites. Nevertheless, parameters that may indicate faecal contamination of the sea have been monitored in the port. The results within the port during the bathing season show compliance with the bathing water values, as shown in the tables below. In the port area, microbiological non-compliance could be caused by ships due to faecal discharges or inadequate treatment of the port’s faecal treatment plant.
| Monitoring point | Parameter | April | May | June | July | August | Sept | Oct | Limit value for bathing water |
|---|---|---|---|---|---|---|---|---|---|
| Basin I | Intestinal enterococci | **D | 251 | *NPD | est. 4 | **D | est. 5 | 33 | 370 |
| Basin I | E. Coli | est. 9 | 400 | **D | est. 9 | *NPD | est. 4 | 12 | 1,000 |
| Basin II | Intestinal enterococci |
| Monitoring point | Parameter | April | May | June | July | August | Sept | Oct | Limit value for bathing water |
|---|---|---|---|---|---|---|---|---|---|
| Basin I | Intestinal | 61 | 141 | 11 | 46 | 13 | 58 | 220 | 1,000 |
| Basin II | E. Coli | 122 | 390 | 32 | 56 | est. 7 | 39 | 370 | |
| Basin III | Intestinal enterococci | *NPD | 111 | *NPD | 24 | *NPD | **D | est. 6 | |
| Basin III | E. Coli | **D | 330 | *NPD | est. 7 | est. 5 | *D | est. 4 | 1,000 |
*Note: NPD – no presence detected
**Note: D – detected
| Basin | Intestinal Enterococci | E. Coli |
|---|---|---|
| Basin I | est. 5 | est. 8 |
| Basin II | 14 | 530 |
| Basin III | est. 4 | est. 6 |
Note: NPD – no presence detected
Note: D – detected
| Monitoring point | Parameter | April | May | June | July | August | Sept | Oct | Limit value for bathing water |
|---|---|---|---|---|---|---|---|---|---|
| Basin I | Intestinal enterococci | D | D | est. 3 | NPD | D | 37 | / | 370 |
| E. Coli | est. 7 | NPD | est. 8 | D | D | 12 | / | 1,000 | |
| Basin II | Intestinal enterococci | 42 | 28 | 42 | 14 | est. 8 | 170 | / | 370 |
| E. Coli | 68 | 32 | 57 | 29 | 25 | 150 | / | 1,000 | |
| Basin III |
| Intestinal enterococci | D | NPD | NPD | NPD | est. 5 | 28 | / | 370 | |
|---|---|---|---|---|---|---|---|---|---|
| Basin III | E. Coli | D | NPD | NPD | NPD | 10 | est. 7 | / | 1,000 |
*Note: NPD – no presence detected (0 cfu)
**Note: D – detected (1-2 cfu)
***Note: est. – estimated
The microbiological quality of the sea is highest in Basin I and III. Microbiologically, Basin II is more polluted, but this is attributed to the outflow from the Central municipal wastewater treatment plant operated by Marjetica Koper, d. o. o., since its outlet runs into the initial part of Basin II. Approximately 5 million m3 of recovered sewage is discharged from this treatment plant into Basin II of the port.
There are three sensors at fixed positions in the port that continuously monitor potential oil spills. One is installed in front of the Koper marina fuel station; one is located at Berth 7d in Basin I and on the liquid cargo throughput berth in Basin II. In 2023, the sensors detected no pollution. The sensors are constantly taking measurements and the alarm system is connected to the port's Security and Control Centre.
The hydrocarbon sensors on the water surface only detect spills directly underneath, i.e. along the shoreline. Any pollution that may occur on the seaward side, i.e. in the middle of the basins or in the waterway, is detected by a new dedicated radar installed on top of the silo of Luka Koper, d. d. The system has the advantage of operating 24 hours a day, even in conditions of reduced visibility. In addition to detection, which allows immediate action, it also helps the intervention team to identify the movement of the slick and to take effective action. The Luka Koper, d. d., system is compatible with the existing system used by the Slovenian Maritime Administration. This makes it possible to ensure surveillance of the entire Bay of Koper, i.e. an important part of the Luka Koper, d. d., port water area, the entry channels, the ships' anchorage and the rest of the Bay of Koper.
Figure: A radar for detecting pollution at sea, installed on the roof of a silo of Luka Koper, d. d.
Photo: Jure Barovič
We also continue to monitor underwater noise. The main source of continuous anthropogenic underwater noise is shipping activity, therefore, we decided to set up a measuring system.
Figure: Location of the fixed underwater noise monitoring station installed in the port area and the underwater noise meter
Sound propagates underwater as mechanical waves that are transmitted through the water medium. It is more stable in water than in air and can travel greater distances without significant attenuation.
A stationary noise meter has been installed below sea level in the offshore area of the port, at the entrance to Basin II. The measuring device takes measurements continuously. It is operated by the contractor, the Institute of Occupational Safety, Ljubljana. Underwater noise measurements are not yet standardised and limit values have not yet been set. The measuring station (hydrophone) records the sound pressure at a sampling frequency of 22,050 Hz and then calculates the equivalent unweighted noise level Leq for a time interval of 10 minutes. The measuring station additionally analyses the sound pressure level in the field frequency bands between 50 Hz and 5,000 Hz. The Technical Group on Underwater Noise at European Union level ("TG Noise") proposes that Member States establish monitoring of underwater noise levels in third-octave bands with centre frequencies at 63 Hz and 125 Hz, as shown in the table below.
| Year of measurement | Leq* [dB] | Leq63Hz** [dB] | Leq125Hz*** [dB] |
|---|---|---|---|
| 2022 | 125.9 | 114.8 | 116.3 |
| 2023 | 126.5 | 115.1 | 116.3 |
*Leq [dB] equivalent unweighted broadband noise level
**Leq63Hz [dB] equivalent unweighted noise level within the third-octave band with centre frequency at 63 Hz
***Leq125Hz [dB] equivalent unweighted noise level within the third-octave band with centre frequency at 125 Hz
As the measurements have been carried out since 2022, it is not yet possible to assess trends or the spatial distribution of underwater noise. The results can be compared with the national underwater noise monitoring of the Ministry of Environment and Spatial Planning, which indicates that the average noise levels during the summer period ranged between 127 and 139 dB, but the exact location of the measurements in the Slovenian Sea was not given (source: Marine Environment Management Plan 2017–2021, May 2017).
In 2023, the following was implemented:
The following was not implemented in 2023:
To ensure safe navigation of ships, a certain depth has to be maintained at all times in the port, marinas and harbours. To this end, the seabed is occasionally dredged, which leads to the issue of having to deposit the marine sediment onshore.
As the areas available for onshore sediment disposal are limited, the Company has been exploring alternative options of using the excavated material. In recent years, the excavated marine sediment was deposited in purpose-built cassettes, but these are now almost filled. In 2023, dredging was not carried out, so there was no depositing in cassettes either.
On land, Luka Koper, d. d., can dispose of sediments only in the area of the Ankaran Bonifika, for which it has already obtained the environmental permit, but the cassettes have not yet been built. In this area, ownership must be arranged, a building permit obtained, and alternative habitats arranged in the Ankaran peripheral canal prior to the disposal of the excavated sediment.
An alternative to depositing marine sediment on land is to relocate it back to the sea. All countries are opting for this. In Slovenia, this option is now allowed by the adopted Maritime Spatial Plan, but it is necessary first to carry out a test relocation, perform measurements of potential impacts and assess the impacts on this basis. The Maritime Spatial Plan envisages a number of mitigation measures for the implementation of the test relocation, and control over the realisation will be carried out by various approvers. In 2023, we drew up a programme for the implementation of the test relocation and obtained consent for its implementation from the consenting authorities.
The test relocation will be a one-off disposal of a limited amount of marine sediment (up to 50,000 m3), to be carried out within the defined test area shown in the figure below. Monitoring and impact assessment will be carried out during the implementation. Following the test relocation, further relocations will await the results of the monitoring. If the results of the monitoring of the test relocation show that there are no significant impacts, nature conservation, cultural and water consents may be issued for further relocation of marine sediment at the potential sites (Map 6 - Marine and Maritime Transport Areas of the Maritime Spatial Plan) to enable sediment relocation to take place at these sites. Further relocation at potential sites is subject to the same conditions as those set for the test relocation, or other conditions as determined by the competent consenting authorities (the full reference is taken from the Decree on Maritime Spatial Plan Slovenia (Official Gazette of the Republic of Slovenia, No 116/21)).
Illustration of the area envisaged for the implementation of the one-off test relocation of marine sediment
Source: Maritime Spatial Plan Slovenia
In 2023, the following was implemented:
The following will be implemented in 2024:
Annual report 2023
consignments (e.g. potassium radioactivity present in bananas, potassium, radium and thorium radioactivity present in fertilizers, granite, fibreglass, ceramics) or of truck drivers having been treated with radioactive isotopes (e.g. iodine radioactivity in thyroid therapy). Even in the case of handled scrap iron, we detected no illegal shipments that would cause increased radiation.
In 2023, the following was implemented:
No activities are planned for this year.
A new 2024-2028 Strategic Business Plan was adopted at the end of 2023, setting out the social objectives for sustainable development.
In the context of occupational safety and health, four impacts were identified and assessed in terms of their impact on stakeholders. Two potentially negative impacts are identified, i. e., serious occupational injuries and occupational diseases. Management measures are recognised under the Risk and Opportunity Management System.
The policy of a safe and healthy work environment is implemented in the Luka Koper Group by ensuring that modes of operation, work processes and cooperation processes with external stakeholders are in accordance with the legislation (Health and Safety at Work Act with regulatory provisions – ZVZD-1) and the ISO 45001:2018 occupational safety and health management system, for which Luka Koper, d. d., was certified on 17 Apr 2020. The major starting points in implementing the system are continuous improvement, hazard identification and prevention of injuries before they occur at all. In order to ensure the appropriate competencies of staff working in the field of occupational safety and health, training programmes have been organized for internal auditors of the health and safety at work system according to the ISO 45001:2018 standard.
At the highest level of Luka Koper, d. d., the Member of the Management Board - Worker Director ensures that the occupational safety and health management system is established, implemented, maintained and improved. Coordination of activities in the field of occupational safety and health, monitoring of legal requirements and the transfer or harmonisation of internal documentation with the necessary changes, has been established within the occupational safety and health department. In order to perform professional tasks related to ensuring safety and health at work, individual occupational safety and health officers are assigned to various organisation units. The companies in the Luka Koper Group use the same occupational safety and health system, with professional tasks carried out by either professional staff or external contractors.
A working group for the promotion of health at work has also been appointed in Luka Koper, d. d., which is presented in greater detail below. Independently of this, the Luka Koper sports club with over 1,170 members operates in the framework of the Luka Koper Group and is presented below.
88 GRI 2-13, 3-3, 403-1, 403-9
89 GRI 2-13
Employees who are directly covered by the occupational safety and health management system and whose work or work-related activities are supervised by Luka Koper, d. d., are employed either by Luka Koper, d. d., or by recruitment agencies (agency employees). Employees of subsidiaries are involved and supervised by the subsidiaries.
Subsidiaries, external contractors and all others entering the Koper port area are employees whose work or work-related activities are not directly under the control of Luka Koper, d. d., therefore, their responsible conduct is ensured through concluded contracts, safety measure agreements, and other agreements. Proper compliance with the requirements and implementation of measures is checked by periodic preventive controls or internal audits or audits by external contractors. The requirements that apply to external participants are defined in Port Regulations and other internal acts of Luka Koper, d. d., and are available on the Company’s website.
Average number of employees of the Luka Koper Group in 2023: 1,861.5 (82% of all involved in the process).
Average number of agency workers the Luka Koper Group in 2023: 399 (18% of all involved in the process).
The basis for the effective identification of hazards/ harmfulness and the introduction of the necessary safety measures is a correctly made risk assessment, which is prepared by the occupational safety and health professionals (OSH officers) at the level of individual organizational units in cooperation with the occupational safety and health department. The risk assessment is performed in accordance with the internal methodology, which covers all critical risk factors. Based on daily monitoring of work processes, incidents occurring in the port area, information and complaints from employees, and new findings resulting from technological progress, the risk assessment is systematically revised.
Workers involved in individual work processes have the right and duty to monitor the circumstances at the work sites and immediately inform the work process managers of any deficiencies/harms and other phenomena that could endanger the safety and health of individuals in the work process. One of the key tasks of work process managers is to establish a safe and healthy working environment at work sites in cooperation with OSH officers.
Endangered or not sufficiently taken care of. At the level of Luka Koper, several different professional areas and players are involved in the treatment of perceived shortcomings, including observations and comments of employees regarding the provision of safe working conditions, as a result of which no negative attitude of employees has been perceived in this regard. Independently of the work processes, a system has also been established at the level of Luka Koper, through which employees can submit their ideas and suggestions for improvements. The latter regularly include proposals to ensure a higher level of safety and health at work. Prior to implementation, each proposal receives an expert assessment of its impact and eligibility.
In accordance with internal documents in the field of safety and health at work, Luka Koper, d. d., provides comprehensive treatment of work-related incidents. Any incident that results or could result in an injury to the worker or major property damage, is reported to the security control centre, which in turn informs and activates all necessary intervention services and specialised departments. The circumstances of incidents are discussed in detail by OSH experts, who determine, based on internal protocols, whether additional risk mitigation measures should be introduced in order to prevent a recurrence of the incident (revision of risk assessment, individual corrective measures, etc.).
Luka Koper Group companies have contracts with occupational health providers to ensure the implementation of health measures. Luka Koper, d. d., has concluded a contract with two occupational medicine practitioners who have the relevant competences for the provision of health services. Within the framework of the mentioned competences, the occupational physician performs the following tasks in particular:
Occupational health practitioners' reports of findings from preventive health check-ups show that endocrine, nutritional and metabolic diseases are the most common, followed by eye diseases, symptoms and signs, abnormal clinical and laboratory findings, and ear diseases. Musculoskeletal disorders are on the rise, in line with the National Institute of Public Health data. The risks associated with health problems are managed by introducing preventive measures into work processes and through a health promotion programme.
At Luka Koper, d. d., a total of 26 employees are recognised as having a disability by the Pension and Disability Insurance Institute of Slovenia, of which 10 obtained a decision in 2023. Six employees are currently in the process of obtaining a decision. These are mostly disabilities from musculoskeletal disorders, which can also be the result of forced posture at work, as identified in the workplace risk assessment. On the basis of the degrees of disability identified, the employees are either reassigned to Luka Koper INPO, d. o. o., which employs 74 people with disabilities (100 for the Group) or to another suitable position within Luka Koper, d. d., where the requirements and limitations given by the Commission are met, or they remain in the same position, according to the limitations identified. Appropriate job adjustment or reassignment shall also be made in the event of medical restrictions arising from medical certificates following preventive health examinations.
in the work process that may influence a change in safety at work. The training consists of general and specific components and is carried out theoretically and practically on the basis of training programmes. After each completed training programme, a theoretical and practical skill test is performed, and an appropriate performance report is prepared. Training programmes and competency tests are carried out during working hours and are free of charge for workers. Most training programmes and competency tests are performed by internal contractors (lecturers, mentors, instructors). Depending on the work performed by an employee, mandatory periodic checks of theoretical and practical competence for safe and healthy working practices are also performed.
All the important issues of occupational safety and health involve the Works Council of the company in question and the trade unions that represent the employees. The Luka Koper, d. d., Works Council also has a Safety and Health Committee, which is consultative in nature. Ongoing issues are dealt with on an ongoing basis when they are detected, while more complex issues are brought to the Works Council meeting for further discussion on the basis of a decision. Worker participation is defined in internal documents of Luka Koper, d. d., (collective bargaining agreement, employee participation agreements, organisational regulations, etc.) and can take place through employee representatives, as cooperation based on legal or other requirements or directly by an employee when there is a direct influence on safety and health at work (hazard identification, inadequate measures for safe work, emergency, etc.). Accessing information and communication take place through internal communication tools, such as: meetings, interviews, sessions, internal mail, intranet, short news, the Port bulletin, etc. In accordance with internal documents, employees who express opinions in good faith, take initiatives and exercise their rights should not be held accountable.
93 GRI 403-5
94 GRI 403-4
| Achievement of occupational safety and health objectives in 2023 | PLANNED | ACHIEVED - LUKA KOPER, D. D. | ACHIEVED - LUKA KOPER GROUP |
|---|---|---|---|
| 0 serious injuries | 1 serious injury | 1 serious injury | |
| A maximum of 17 injuries per million hours worked (employees + agency workers) | 17 | 26 injuries / million hours worked | 25.6 injuries / million hours worked |
| A maximum of 20 collisions in internal transport per million hours worked | 20 | 16.9 collisions / million hours worked | 16.4 collisions / million hours worked |
| A maximum of 35 collisions in handling areas per million hours worked | 35 | 73 collisions / million hours worked | 70.1 collisions / million hours worked |
Key:
The planned targets apply to Luka Koper, d. d. The achievement of objectives is analysed in more detail below.
• A maximum of 20 collisions in internal transport per million hours worked,
• A maximum of 35 collisions in handling areas per million hours worked.
The basic legislation regulating occupational safety and health is the Occupational Safety and Health Act with regulatory provisions ZVZD-1. Compliance with legislative requirements is verified by means of permanent internal control, internal and external audits and on the basis of inspections.
In 2023, five inspections were carried out at Luka Koper d. d. by the Labour Inspectorate of the Republic of Slovenia. Two inspections were carried out to investigate an occupational accident/unsafe occurrence, one to inspect the situation on a construction site, one to inspect technological procedures and one related to labour relations. Two requests for information were made and one measure was imposed. All obligations have been fulfilled and the proceedings have been stopped.
Luka Koper d. d. received no fines from inspection decisions in 2021, 2022 and 2023.
For the purposes of injury statistics in the Luka Koper Group and the calculation of various indices presented below, injuries at work are taken into account when requiring at least one day of sick leave. In addition to those listed, 24 other injuries in employees of Luka Koper, d. d. and 9 injuries in agency workers were recorded in 2023 but required no sick leave.
| Number of injuries at work in Luka Koper Group | 2021 | 2022 | 2023 |
|---|---|---|---|
| Luka Koper, d. d. | 39 | 39 (1) | 60 (1) |
| Recruitment agencies | 24 | 17 | 29 |
| Luka Koper Group | 70 | 58 | 94 |
| External actors | 10 | 20 | 24 |
*The number of serious injuries in brackets, the total number outside of the brackets. External actors include external truck drivers and providers of various works and services. A record of all reported injuries is kept for external actors and subsidiaries, but no data on sick leave is available.
Number of injuries at work per million hours worked (Luka Koper Group) by years
In 2023, employees of Luka Koper, d. d., performed 2,804,899.95 hours of work, agency workers 617,825.11 hours of work, and a total of 3,540,647.43 hours of work were done in the Luka Koper Group.
Compared to the previous two years, the Company records an increase in the number of injuries among employees of Luka Koper d. d. and agency workers in 2023.
injuries. The body parts most frequently injured are ankles and fingers. The causes of the injuries vary, partly related to the current conducts of the worker (wrong movements, overloading of a part of the body, loss of control of work objects, etc.), and partly related to the growth of the port (lack of space, new recruitments - workers need time to gain the relevant experience, etc.).
When an occupational injury occurs, an analysis of the incident is carried out, the participants/witnesses are interviewed and, in the light of the findings, additional measures are adopted to prevent a recurrence and re-familiarisation with health and safety measures is carried out.
In August 2023, there was one serious occupational injury: a firefighter was struck by lightning. The unfortunate event occurred during a storm recovery operation (roof removal) despite the precautions taken. The effective intervention of colleagues by offering first aid and the short response time of emergency medical aid (paramedics) helped to ensure that the worker was successfully treated and transported for further care. The worker makes a successful recovery.
Two collective injuries were recorded in 2023. In both cases, it was a traumatic shock as a result of an event. One incident involved a firefighter being struck by lightning, resulting in two close colleagues being off sick for several working days. The second incident is the unmooring of a ship that occurred in July 2023 at the container terminal as a result of a storm. Three employees were on sick leave due to traumatic shock.
Sickness absence is monitored by the indicator of the proportion of working days lost due to sickness, injury, care and attendance. In 2023, sick leave in Luka Koper, d. d., was at 5.23 percent, which is somewhat lower than the national average of 5.9 percent for 2023. In the Luka Koper Group, sick leave was 5.16 percent.
Loss events that are the subject of analysis are the events that resulted in pecuniary loss or material damage. Of all the loss events recorded in the Luka Koper Group, occurrences that stand out in their numbers are the events where the loss was due to collision.
The number of collisions in internal transport (roads, parking places) has been declining over the years, which is partly due to improvements in traffic regulation (new entrances, improvement of traffic arrangements, renovation of the internal public transport system, safety promotion, etc.), whereas damage events are partly still related to the human factor, i.e., compliance with traffic safety rules.
The target for the number of material damages (collisions) in handling areas was set for the first time in 2022. The majority of cases (69%) are collisions with immovable assets (infrastructure, parked/stationary vehicles, containers, etc.), mainly involving internal vehicles and work machinery. 30 percent of collisions on handling areas are caused by drivers of new vehicles (external contractors). The number of collisions has been increasing in recent years, which can be partly attributed to the increased volume of work (congestion of storage areas, record number of external trucks in the port area, intermingling of various participants), and partly, the indicator is influenced by participants' behaviour (non-compliance with instructions, rules, signs, etc.).
The Luka Koper Group takes care of the health of its employees at three different levels: by ensuring the rights arising from the collective bargaining agreement, through a health promotion programme and by co-financing the programme of the Luka Koper Sports Club.
In order to facilitate workers' access to health services that are not directly related to their work, the employees are entitled under the collective bargaining agreement to leave with pay for up to 8 hours per month to see a personal doctor or specialist. As part of activities to promote blood donation, in addition to the legal right to be absent on the day of donation, workers also are entitled to an additional day of paid absence.
In the Luka Koper Group, each company has its own health promotion programme, which in certain segments is linked to the health promotion programme of Luka Koper d. d. The health promotion programme of Luka Koper, d. d., is devised by representatives of all major organisational units, and senior management. Both employees and agency workers are involved in activities. The health promotion priorities are based on the report of a certified occupational physician, a survey of psychosocial risk factors and observations of employees and management. The main priorities still comprise control of nutritional and metabolic diseases, musculoskeletal disorders, harmful habits related to excessive use of psychoactive substances, alcohol and cigarettes, and improvement of interpersonal relationships. Musculoskeletal disorders mostly affect machinery workers and office workers, which is particularly due to extreme posture. In order to maintain and improve the psycho-physical fitness of employees and agency workers, Luka Koper, d. d. has implemented the following activities:
Each year, Luka Koper, d. d. donates part of its funds to the Luka Koper Sports Club, which promotes an active and healthy lifestyle and the well-being of Luka Koper Group employees. Since 1972, the club has been providing year-round organised sports and recreational activities for its members outside regular working hours. The Club’s activities are diversified and tailored to the needs of its 1,170 members. Activities take place in 14 sports sections, based on a pre-approved programme of work.
The identified impacts under the employee management and training system are shown in Item 17.5 ‘Materiality Matrix and Identified Impacts’.
Luka Koper, d. d., monitors the management of actual positive impacts by periodically measuring the organizational climate, satisfaction and engagement of employees, most recently through an online survey in 2022. SIOK and Gallup questionnaires were used to enable comparability of results. The results were compared with the Slovenian average and with four large comparable companies. In 2023, a number of workshops were organised to present the results to staff, management and social partners with the aim of finding the reasons or causes for the results achieved. Despite the relatively high scores achieved, the negative trend compared to the 2019 measurement has led to an action plan for improvement. The results in the area of organisational climate and employee satisfaction are above the Slovenian average and the average of comparable large companies, while the result in the area of employee engagement is below the Slovenian average and the average of comparable large companies.
The Luka Koper Group is considered an important employer in the region, with an impact on employment in other supporting activities.
Targeted implementation of functional training of employees is a strategic activity of the Company. The approach is set out in the Company’s internal guidance on HR training and education, knowledge transfer systems and co-financing ongoing training. Training objectives, programmes and funds are included in the Company’s annual business plan. The starting points for training are the needs of the work processes, the required and desired skills for the jobs and the less developed competences. Success of the chosen approach is monitored by measuring satisfaction after the completed training, by means of exams, promotions of employees to higher level of qualification and workplace flexibility based on acquiring, transferring and using knowledge, assessments of staff competences in annual interviews and assessments of tutors. Most of the training is internally organised programmes and work induction programmes as part of the mentoring and coaching scheme for each new employee or when employees are assigned to another workplace.
Digitalisation of operations is one of our most important strategic objectives. Using new technologies, Luka Koper, d. d., will carry out a digital transformation of key processes. In 2023, the co-funded projects provided training to employees to enhance and strengthen digital competences related to the introduction of advanced digital technologies in business processes. Training was provided in information and data literacy, communication and collaboration, digital content creation, information security and the use of e-applications.
Every third employee, or 35 percent of employees in the Luka Koper Group, received one of the forms of career development, i.e. promotion to another more demanding position or promotion to a higher level of qualification and flexibility in the workplace. At Luka Koper, d.d., the share of internal recruitment in key positions is also monitored, which was 79 percent in 2023. A more transparent system of career development is being established, with clear criteria for promotion and a distinction between career development and internal vacancy announcements, with a view to filling vacancies more quickly.
Engagement is also affected by the quality of leadership. In 2023, the Leadership Academy, a training programme integrating managers from all levels of the organisation, is being run. The content of the Leadership Academy includes topics in leadership skills development, as well as topics that have been identified as opportunities for improvement in the measurement of climate, satisfaction and engagement. The 360-method assessment of managers confirmed the planned value of the indicator on the proportion of managers with highly developed leadership competences, i.e. an overall competence score of at least 4 on a scale of 1 to 5, not including the manager's self-assessment. The share of such managers was 85.3 percent.
Employee benefits, described in Chapter 21.1.11 ‘Employee benefits’, increase employee loyalty and reduce turnover.
The good practice of providing each new recruit with a Code of Ethics and a practical guide to ethical conduct at the time of recruitment continues. This is the first time employees are made aware of responsible behaviour policies and practices, whereas communication with employees during the course of their employment takes place both through a customised mobile app and through traditional, printed media. The Luka Koper Group communicates with the employees mostly through the following key communication channels:
The Company has an Intranet site, LukaNET, where general information, all internal documents of the company, platforms and instructions are available to the employees if they need them for the performance of work.
Human resources management is based on strategic documents, which are implemented through annual personnel and training plans as part of the company's business plans. The 2020 - 2025 Strategic Plan has been the basis so far. In 2023, the new 2024-2028 Strategic Business was adopted, which also defines the HR orientations, objectives and projects, which are as follows:
Human resource management policies and practices are set out in the company's internal documents. Recruitment procedures are run in a transparent and non-discriminatory manner through HR committees. All employees have the possibility for further development by being included in annual interviews and training. Efficiency of human resource management is monitored through turnover and sick leave indicators (below the Slovenian average), by means of a bi-annual assessment of organisational climate, employee satisfaction and engagement, by assessing all management functions based on the 360-degree method, and by assessing cooperation between organisational units. The aim of the last indicator is to ensure coordinated efforts of units to achieve common goals and to serve as an indicator of performance for all units from the perspective of working with users of services.
Data, shown later in this Chapter, were obtained from the personnel records of the SAP information system.
| 31 Dec 2021 | ||
|---|---|---|
| 31 Dec 2022 | ||
| 31 Dec 2023 |
| Luka Koper, d. d. | 1.577 | 1.638 | 1.757 |
|---|---|---|---|
| Luka Koper INPO, d. o. o. | 131 | 131 | 133 |
| Adria Terminali, d. o. o. | 25 | 27 | 27 |
| TOC, d. o. o. | 5 | 5 | 5 |
| Luka Koper Group* | 1.738 | 1.801 | 1.922 |
| As at 31 Dec 2023 | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share of ALL employees in % | ||
|---|---|---|---|---|---|---|---|---|
| Men | 1,596 | 90.8 | Women | 161 | 9.2 | Total Employees | 1,757 | 100.0 |
| Luka Koper Group | 1,747 | 90.9 | 175 | 9.1 | 1,922 | 100.0 | ||
| Indefinite Employee | Luka Koper, d. d. | 1,594 | 90.9 |
| Luka Koper Group | 1,753 | 99.8 | |||||
|---|---|---|---|---|---|---|---|
| Luka Koper, d. d. | 1,744 | 91.0 | 175 | 9 | 1,916 | 99.7 | |
| Fixed-Term Employee | Luka Koper, d. d. | 2 | 50.0 | 2 | 50.0 | 4 | 0.2 |
| Luka Koper Group | 3 | 50.5 | 3 | 50.5 | 6 | 0.3 | |
| Zero-hour Employee | This form of work does not apply. | ||||||
| Full-time Employee | Luka Koper, d. d. | 1,591 | 91.1 | 156 | 8.9 | 1,747 | 99.4 |
| Luka Koper Group | 1,735 | 91.1 | 170 | 8.9 | 1,905 | 99.1 | |
| Part-time Employee | Luka Koper, d. d. | 5 | 50.0 | 5 | 50.0 | 10 | 0.6 |
| Luka Koper Group | 12 | 70.6 | 5 | 29.4 | 17 | 0.9 |
The table shows the numerical situation as at the last day of the reporting period (31 Dec). For each element, the share/percentage of the total result is shown. The overall result is shown as a share/percentage of all employees in Luka Koper, d. d. or in the Luka Koper Group. Employees in tables are shown only by male and female gender, as there are no employees who identify themselves differently (category 'other' or 'undisclosed').
On the last day of 2023, the Luka Koper Group had 1,922 employees, an increase of 121 employees or 7 percent from the year before. The growth trend in the Luka Koper Group and Luka Koper, d. d. thus continues. Due to the nature of the work, 91 percent of the workforce is male. The employment in the basic transhipment process of Luka Koper, d. d., and the transitions of agency workers to full-time employees have had a decreasing impact on the proportion of women in the workforce, despite the fact that more and more women are also working in jobs traditionally associated with male labour, e.g. crane operator, harbour machinery driver, lorry driver, foreman, warehouseman, security guard.
The employees have permanent contracts, while less than one per cent of the employees have a fixed-term employment relationship (managerial, replacement, project-related work). In the past years, induction into the job or increased workload were among the reasons for the fixed-term employment.
Over 99 per cent of Luka Koper Group employees work full time. In two-thirds of cases, the reason for the reduced working time is disability, followed by parenthood and, in some cases, illness, partial retirement and project-related work.
| As at 31 Dec 2023 | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % |
|---|---|---|---|---|---|---|---|---|---|---|
| Share in % | Number of employees | Share of ALL employees in % | Coast-Karst Region | Primorska and Notranjska Region | Central Slovenia | Goriška Region | Other region | Other country | Total Employees | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Luka Koper, d. d. | 1,597 | 90.9 | 121 | 6.9 | 9 | 0.5 | 7 | 0.4 | 1 | 0.1 | 22 | 1.3 | 1,757 | 100.0 |
| Luka Koper Group | 1,756 | 91.4 | 125 | 6.5 | 9 | 0.5 | 9 | 0.5 | 1 | 0.1 | 22 | 1.1 | 1,922 | 100.0 |
| Indefinite Employee | Luka Koper, d. d. | 1,594 | 90.9 | 121 | 6.9 | 8 |
| Type of Employee | Number | Percentage |
|---|---|---|
| Fixed-Term Employee | 1,751 | 91.4 |
| Zero-hour Employee | This form of work does not apply | |
| Full-time Employee | 1,588 | 90.9 |
| Type | Count | Percentage |
|---|---|---|
| Fixed-Term Employee | 1,753 | 99.8 |
| Full-time Employee | 1,747 | 99.4 |
| 1,740 | 91.3 | 125 | 6.6 | 8 | 0.4 | 9 | 0.5 | 1 | 0.1 | 22 | 1.1 | 1,905 | 99.1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Part-time Employee | Luka Koper, d. d. | 9 | 90.0 | 1 | 10.0 | 10 | 0.6 | ||||||
| Luka Koper Group | 16 | 94.1 | 1 | 5.9 | 17 | 0.9 |
Displaying the highest share, i.e., 91 percent to originate in the Coastal and Karst Region, the structure of employees by region of residence reflects the nature of transhipment, i.e., ensuring the continuous provision of services throughout the year and flexibility of services. The increase in the percentage of employees from the Coast-Karst Region is the result of employees having arranged their residence closer to their place of work.
| 31.12.2021 | 31.12.2022 | 31.12.2023 | |
|---|---|---|---|
| Luka Koper, d. d. | 324 | 352 | 431 |
| Luka Koper Group | 332 | 359 | 439 |
| Luka Koper, d. d. | Luka Koper Group | |
|---|---|---|
| 31 Dec 2021 | 98.2 | 98.1 |
| 31 Dec 2022 | 98.2 | 98.1 |
| 31 Dec 2023 | 98.1 | 97.8 |
| Employees covered by collective agreement | 98.2 | 97.8 |
| Employees outside the collective agreement framework | 1.8 | 2.2 |
| TOTAL | 100.0 | 100.0 |
97.8 percent of Luka Koper Group employees have an employment contract based on the collective bargaining agreement. On the basis of the legislation governing remuneration of managers in majority-owned companies of the Republic of Slovenia, the Remuneration Policy of the Management and Supervisory Bodies of Luka Koper, d. d. and the Management Bodies of the Subsidiaries in the Luka Koper Group, adopted on 25 May 2023, applies to the directors of subsidiaries. Luka Koper, d. d., uses the Remuneration Policy for Employees under Special Employment Contracts, as amended on 20 September 2022. The terms and conditions of employment are defined in the job descriptions in accordance with the systemisation of jobs or the Act on Systemisation (adopted on 14 August 2018).
| Luka Koper, d. d. | Luka Koper Group | |
|---|---|---|
| Age groups (years) | 31 Dec 2021 | 31 Dec 2022 |
| Age Group | 31 Dec 2023 | Share in % | 31 Dec 2022 | Share in % | 31 Dec 2023 | Share in % | 31 Dec 2022 | Share in % | 31 Dec 2023 | Share in % |
|---|---|---|---|---|---|---|---|---|---|---|
| Under 30 | 175 | 11.1 | 157 | 9.6 | 176 | 10.0 | 165 | 9.2 | 182 | 9.5 |
| 30–50 | 1,132 | 71.8 | 1,192 | 72.8 | 1,242 | 70.7 | 1,269 | 70.5 | 1,318 | 68.6 |
| Over 50 | 270 | 17.1 | 289 | 17.6 | 339 | 19.3 | 367 | 20.3 | 422 | 22.0 |
| Total number of employees |
| 1,577 | 100.0 |
|---|---|
| 1,638 | 100.0 |
| 1,757 | 100.0 |
| 1,801 | 100.0 |
| 1,922 | 100.0 |
41.942.242.342.842.9
Methodology: The data are shown numerically and as a share in the reported period. The average age of employees in the Luka Koper Group and Luka Koper, d. d. is increasing.
As at 31 Dec 2023
| Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | |
|---|---|---|---|---|---|---|
| Men | 145 | 90.6 | 15 | 9.4 | 160 | 100.0 |
| Women | 157 | 91.3 | 15 | 8.7 | 172 | 100.0 |
| Luka Koper, d. d. | 37 | 90.2 |
|---|---|---|
As at 31 Dec 2023
| Age Group | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % |
|---|---|---|---|---|---|---|---|---|
| Under 30 | 53 | 33.1 | 54 | 31.4 | ||||
| 30–50 | 98 | 61.3 | 104 | 60.5 | ||||
| Over 50 | 9 | 5.6 | ||||||
| Total | 160 | 100.0 |
Methodology: The data are shown numerically and as a share in the reported period.
Despite non-discriminatory job announcements, 91 percent of the new candidates in employment procedures were male.
107 GRI 2-7
| Age Group | Number of Departures | Share in % |
|---|---|---|
| 0-20 | 6 | 14.6 |
| 21-30 | 20 | 48.8 |
| 31-40 | 15 | 36.6 |
| Total | 41 | 100.0 |
| Age Group | Number of Departures | Share in % |
|---|---|---|
| 0-20 | 6 | 11.5 |
| 21-30 | 22 | 42.3 |
| 31-40 | 24 | 46.2 |
| Total | 52 | 100.0 |
In line with the growth in turnover, employment is also growing, especially in the core transhipment process. There is an increase in the proportion of recruitments in the older age groups, which is due to the transition of experienced persons from agency workers to full-time employees and to the recruitment to professional and managerial positions. The proportion of departures in the younger age groups is increasing.
As at 31 Dec 2023
| Region | Number of Employees | Share in % |
|---|---|---|
| Coast-Karst Region | ||
| Central Slovenia | ||
| Primorska and Notranjska Region | ||
| Other | ||
| Total |
| 141 | 88.1 | 6 | 3.8 | 10 | 6.3 | 3 | 1.9 | 160 | 100.0 |
|---|---|---|---|---|---|---|---|---|---|
| 151 | 87.3 | 7 | 4.0 | 12 | 6.9 | 3 | 1.7 | 173 | 100.0 |
|---|---|---|---|---|---|---|---|---|---|
| 32 | 78.0 | 2 | 4.9 | 5 | 12.2 | 2 | 4.9 | 41 | 100.0 |
|---|---|---|---|---|---|---|---|---|---|
| 41 | 78.8 | 2 | 3.8 | 7 | 13.5 | 2 | 3.8 | 52 | 100.0 |
|---|---|---|---|---|---|---|---|---|---|
The largest share of new recruitments is still from the Coast-Karst Region.
| Number of new employments | Number of departures | FLUCTUATION RATE (in %)* |
|---|---|---|
| 2021 | ||
| 2022 | ||
| 2023 |
| 70 | 109 | 160 | 27 | 48 | 41 | 1.6 | 2.8 | 2.3 |
|---|---|---|---|---|---|---|---|---|
| 77 | 124 | 172 | 38 | 61 | 52 | 2.1 | 3.3 | 2.6 |
|---|---|---|---|---|---|---|---|---|
*Fluctuation calculation method = No of departures/(previous No of employees + new employments) x 100
Among departures, half of all departures relate to termination agreements. The number of extraordinary terminations has been increasing. A quarter of the departures are old-age retirements, and there are some examples of disability retirements, death and transitions between affiliated companies in the Luka Koper Group.
GRI 401-1
GRI 401-1
GRI 401-1
Luka Koper, d. d., and the Luka Koper Group have a significantly lower employee turnover rate than the entire logistics industry, where the turnover is at 20 percent. The turnover rate is slightly lower compared to 2022.
When it comes to employee benefits in the Luka Koper Group, there is no division among those employed for a fixed-term or part-time, and those employed for an indefinite period or full working hours, and there is no gender pay gap.
The only difference is related to the voluntary supplementary pension insurance, in case of which temporary employees are paying their monthly premiums themselves, whereas others are co-financed different shares of the legal premium depending on the age of the employee.
Having met the relevant conditions, all employees are covered by financial incentive instruments. Social security, health insurance and pensions are in place for all. Employees can also take out accident insurance and insurance for medical check-ups with specialists on favourable terms.
The provisions on salaries and benefits applicable to employees also apply to agency workers. They are paid at the same rate or under the same conditions as regular staff in the same posts and on the same payday. They are entitled to allowances for individual and business performance bonuses, and the same amount of holiday allowance, Christmas and business performance bonuses. They are currently not yet subject to the flexibility and competence level allowance and are not covered by the supplementary voluntary pension scheme.
In 2023, salaries of employees in Luka Koper, d. d., exceeded the statutory minimum wage in the Republic of Slovenia; only in exceptional cases, individual employees were entitled to the payment of the statutory supplement to the minimum wage. The number of employees who received at least one minimum wage supplement in 2023 was 353, in 14 different positions. Annual leave allowance, Christmas bonus and performance bonus were paid. In accordance with the criteria of the enterprise collective agreement, group merit is awarded quarterly. A great majority of employees participate in the voluntary supplementary pension insurance. Since 2018, upon retirement, employees receive an additional severance payment from the post-employment fund in addition to the severance pay in accordance with the legislation.
In 2023, the ratio of the total annual salary of the highest paid individual in the organisation to the median total annual salary for all employees (excluding the highest paid individual) was as follows:
The increase in the total annual salary of the highest paid individual of the organisation against the average increase in the total annual salary of all employees (except the highest paid individual) was as follows:
The annual gross salary data is taken from the calculation of regular and variable performance-related salaries for employees under the collective bargaining agreement and regular salaries for employees under management and other individual contracts (excluding the payment of variable salaries in 2022, which are calculated after the annual report has been approved). The median calculation comprises employees who were paid by Company/Group for a full year's pool of full-time regular hours. The average increase of total annual salary was calculated on the basis of the hours worked by all employees except the highest paid individual.
| Exercising parental rights: | Luka Koper, d. d. | Luka Koper Group |
|---|---|---|
| 2021 | Men: 95 Women: 9 TOTAL: 104 | Men: 98 Women: 9 TOTAL: 107 |
| 2022 | Men: 97 Women: 9 TOTAL: 106 | Men: 98 Women: 9 TOTAL: 107 |
| 2023 | Men: 94 Women: 9 TOTAL: 103 | Men: 98 Women: 9 TOTAL: 107 |
Anyone who applies is allowed to use it. All employees who exercise their parental right, return to the same workplace at the end of their leave. Five employees who exercised parental leave rights in 2023 have not yet completed their entitlements by 31 December 2023. After 12 months, 103 of the 106 employees who used parental rights in 2022 are still employed. The reasons for termination are not related to parental leave (1 consensual termination, 1 retirement, 1 extraordinary termination due to the presence of illegal psychoactive substances in the workplace).
| 2023 immediately | 2023 ratio returned/left | 2023 after 12 months | |
|---|---|---|---|
| Men | 90 | 0.95 | 94 |
| Women | 8 | 0.88 | 9 |
| TOTAL | 98 | 0.95 | 103 |
| Level of education | No of employees 31 Dec 2023 | Share (%) 31 Dec 2023 | No of employees 31 Dec 2022 | Share (%) 31 Dec 2022 |
|---|---|---|---|---|
| Employees | 31 Dec 2023 | Share (%) | 31 Dec 2022 | Share (%) |
|---|---|---|---|---|
| VIII/2 | 3 | 0.2 | 1 | 0.06 |
| VIII/1 | 24 | 1.4 | 25 | 1.5 |
| VII | 140 | 8.0 | 130 | 7.9 |
| VI/2 | 248 | 14.1 | 245 | 14.9 |
| VI/1 | 122 | 6.9 | 117 | 7.1 |
| V | 532 | 30.3 | 481 |
| 575 | 29.9 | 524 | 29.1 | IV | 550 | 31.3 | 505 | 30.8 | 607 | 31.6 | 559 | 31.0 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| III | 16 | 0.9 | 17 | 1.04 | 28 | 1.5 | 29 | 1.6 | I–II | 122 | 6.9 | 117 | 7.1 |
| 151 | 7.9 | 147 | 8.2 | TOTAL | 1,757 | 100.0 | 1,638 | 100.0 | 1,922 | 100.0 | 1,801 | 100.0 |
The intensive recruitment implemented for operating positions in the basic transhipment and warehousing process, for which lower levels of education are sufficient, has affected the education structure of Luka Koper, d. d., and the Luka Koper Group, mainly by increasing the proportion of employees with level IV and V education. 1.5% of employees receive co-financing for attaining higher education through an education contract, and employees also participate in higher education programmes on their own initiative and with their own financial resources.
| Luka Koper, d. d. | Luka Koper Group | 31 Dec 2021 | 31 Dec 2022 | 31 Dec 2023 | 31.12.2022 | 31 Dec 2023 | Number of employees |
|---|---|---|---|---|---|---|---|
| Share in % | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | Number of employees | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Management (Management Board, b-1) | 20 | 1.3 | 22 | 1.3 | 23 | 1.3 | 25 | 1.4 | 26 | 1.4 | |
| Other management | 341 | 21.6 | 317 | 19.4 | 338 | 19.2 | 334 | 18.5 | 358 | 18.6 | |
| Highly skilled | 185 | 11.7 | 193 | 11.8 | 204 | 11.6 | 203 | 11.3 | 214 | 11.1 | |
| Operators | 1,031 | 65.4 |
| As at 31 Dec 2023 | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | |
|---|---|---|---|---|---|---|---|
| Men | Women | Total | |||||
| Management (Management Board, b-1) | Luka Koper, d. d. | 17 | 73.9 | 6 | 26.1 | 23 | 100.0 |
| Luka Koper Group | 19 | 73.1 | 7 | 26.9 | 26 | 100.0 | |
| Other management | Luka Koper, d. d. | 321 | 95.0 |
| Luka Koper Group | 338 | 100.0 | |||||
|---|---|---|---|---|---|---|---|
| Highly skilled | Luka Koper, d. d. | 141 | 69.1 | 63 | 30.9 | 204 | 100.0 |
| Luka Koper Group | 147 | 68.7 | 67 | 31.3 | 214 | 100.0 | |
| Operators | Luka Koper, d. d. | 1,117 | 93.7 | 75 | 6.3 | 1,192 | 100.0 |
| Luka Koper Group | 1,238 | 93.8 | 82 | 6.2 | 1,320 | 100.0 | |
| Total | Luka Koper, d. d. | 1,596 | 90.8 | 161 | 9.2 | 1,757 | 100.0 |
| Luka Koper Group | 1,747 | 90.9 | 175 | 9.1 | 1,922 | 100.0 |
| Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | Number of employees | Share in % | ||
|---|---|---|---|---|---|---|---|---|---|
| Under 30 | 30–50 | Over 50 | Total | ||||||
| Management (Management Board, b-1) | 11 | 47.8 | 12 | 52.2 | 23 | 100.0 | |||
| Luka Koper, d. d. | 11 | 42.3 | 15 | 57.7 | 26 | 100.0 | |||
| Other management | 12 | 3.6 | 236 | 69.8 | 90 | 26.7 | 338 | 100.0 | |
| Luka Koper Group | 12 | 3.3 | 245 | 67.7 | 105 | 29.0 | 362 | 100.0 |
| Luka Koper, d. d. | 8 | 3.9 | 147 | 72.1 | 49 | 24.0 | 204 | 100.0 |
|---|---|---|---|---|---|---|---|---|
| Luka Koper Group | 8 | 3.7 | 153 | 71.5 | 53 | 24.8 | 214 | 100.0 |
| Luka Koper, d. d. | 156 | 13.1 | 848 | 71.1 | 188 | 15.8 | 1,192 | 100.0 |
|---|---|---|---|---|---|---|---|---|
| Luka Koper Group | 162 | 12.3 | 909 | 68.9 | 249 | 18.9 | 1,320 | 100.0 |
| Luka Koper, d. d. | 176 | 10.0 | 1,242 | 70.7 | 339 | 19.3 | 1,757 | 100.0 |
|---|---|---|---|---|---|---|---|---|
| Luka Koper Group | 182 | 9.5 | 1,318 | 68.6 | 422 | 22.0 | 1,922 | 100.0 |
9.2% of employees at Luka Koper, d. d., are women (9.1% in the Luka Koper Group). In terms of job category, the proportion of women is highest in the professional ranks (30.9% for Luka Koper, d. d. and 31.3% for the Luka Koper Group). In terms of age groups, the proportion of employees in the 30-50 age group is the highest (70.7% for Luka Koper, d. d., and 68.6% for the Luka Koper Group). The structure of the workforce has a low proportion of young people under 30 (10% for Luka Koper, d. d., and 9.5% for the Luka Koper Group), which is the result of the intensive search for and recruitment of candidates with experience.
In 2023, 88 percent of employees were included in training programmes. The average number of training hours in the Luka Koper Group and Luka Koper, d. d. was 19.1 and 19.2 hours respectively. The slightly lower number of training hours compared to 2022 is due to the number of online training programmes delivered by external training institutions (webinars) and the introduction of new online programmes in the internal training platform Knowledge Room, which are shorter in duration than traditional training formats. The online classroom can be accessed by all employees, including those who do not have access to a computer at work, via the Capsule mobile app and shared computers. An online test of occupational safety knowledge is being set up.
As part of establishing the Knowledge Centre, activities are underway to procure a virtual reality simulator to simulate work on key machinery and to set up premises, training grounds and equipment for the practical part of training.
| Luka Koper, d. d. | Luka Koper Group | |
|---|---|---|
| 2021 | 15.1 | |
| 2022 | 20.8 | |
| 2023 | 19.2 | 19.1 |
| Women | 21.7 | |
| 15.7 | 14.8 | |
| Men | 7.5 | |
| 21.3 | 19.6 | |
| Management (Management Board, b-1) | 28 | |
| 21.9 | 36.5 | |
| Other management | 6.1 |
The training programmes are linked to the needs of work processes. Every staff member is included in the induction plan as part of the mentoring and coaching system when they are recruited or assigned to another position. In addition to the skills required by law and the skills required to do the job, job descriptions also include skills that improve the performance of the work process. The acquisition and use of these skills enable the employee to advance or be promoted to a higher level of competence and flexibility in the existing job. Employees are involved in training throughout their employment. Most of the training is organised within regular working hours.
Based on the assessment of employees' development potential, individual employee development plans were drawn up with programmes to develop managerial and social competences.
By training operators to manage various types of machinery, we ensure that they have the flexibility to move between units according to work needs.
Luka Koper implements the concept of lifelong learning through continuous training and refresher courses for employees to improve communication skills, foreign languages, project management, training for internal auditors, training for Works Council members and trade union representatives, management skills, technical training, public procurement, and training for knowledge transfer instructors.
The range of training content for strengthening digital competences and a healthy lifestyle has been increasing. Retirement preparation workshops or meetings are organised for employees from time to time, presenting the legislation on retirement, the experience of Luka Koper pensioners and the possibilities of joining the Luka Koper pensioners' association, the possibility of working as a port guide after retirement and continuing to receive the in-house newsletter, the Port Bulletin. No other specific training programmes are provided for pre-retirement employees, but they are included in the regular training programmes together with other younger employees.
Luka Koper, d. d., provides employees with opportunities for personal and professional development through promotions to other, more demanding positions and by placing employees at a higher level of competence and flexibility in their current position. Following the completion of the 2021 project, a more transparent system is being established for the promotion or career development of employees. A distinction is being made between career development and internal job advertisements to fill vacant positions more quickly. The process of identifying successors is continuous. The employee participates in the process of measuring social and managerial competences voluntarily on the basis of self-registration, the proposal of the unit management, co-financing of education or the proposal of the HR department when recruiting for positions where a successor has not been identified.
| Year | Number | Share |
|---|---|---|
| 2021 | 103 | 6.5 |
| 2022 | 149 | 9.1 |
| 2023 | 139 | 7.9 |
| Year | Number | Share |
|---|---|---|
| 2021 | 165 | 8.6 |
| 2022 | 508 | 26.4 |
| 2023 | 673 | 35.0 |
| Category | Men | Women |
|---|---|---|
| Management (Management Board, b-1) | 556 | 59 |
| Other management | 3 | 117 |
| Highly skilled | 64 | 431 |
| Share (of all employees) | Men | Women |
|---|---|---|
| Management (Management Board, b-1) | 31.6 | 3.4 |
| Other management | 0.2 | 6.7 |
| Highly skilled | 3.6 | 24.5 |
| Category | Men | Women |
|---|---|---|
| Management (Management Board, b-1) | 613 | 60 |
| Other management | 3 | 122 |
| Highly skilled | 64 | 484 |
| Share (of all employees) | Men | Women |
|---|---|---|
| Management (Management Board, b-1) | 31.9 | 3.1 |
| Other management | 0.2 | 6.3 |
| Highly skilled | 3.3 | 25.2 |
The disability issue was dealt with by an established pattern of past practice by employing a share of disabled employees in the Luka Koper Group, in the disability company Luka Koper INPO, d. o. o. The share of employees with the disability status in Luka Koper, d. d., stood at 1.4 percent as at 31 December 2023. In 2023, two employees with acquired disability status were reassigned from Luka Koper, d. d. to the disability company Luka Koper INPO, d. o. o.
| Disability – Number of disabled employees and their share in Luka Koper, d. d., and the Luka Koper Group | ||||
|---|---|---|---|---|
| Luka Koper, d. d. | Luka Koper Group | |||
| 31 Dec 2021 | 31 Dec 2021 | |||
| Number of disabled employees | 20 | 20 | ||
| Share (%) | 1.3 | 1.2 | ||
| 31 Dec 2022 | 31 Dec 2022 | |||
| Number of disabled employees | 24 | 98 | ||
| Share (%) | 1.4 | 5.1 | ||
| Number of disabled employees and their share in Luka Koper, INPO, d. o. o. | ||||
| 31 Dec 2021 | 31 Dec 2021 | |||
| Number of disabled employees | 73 | 73 | ||
| Share (%) | 55.7 | 55.7 | ||
| 31 Dec 2022 | 31 Dec 2022 | |||
| Number of disabled employees | 74 | |||
| Share (%) | 55.6 |
The Luka Koper Group acts in a socially responsible manner in the field of development and education in the local and wider environment. It cooperates with many educational institutions in ensuring the mentorship of essays and diploma papers and offering compulsory internship to secondary school and university students and participates in school career fairs. In 2023, Luka Koper, d. d., co-financed the acquisition of a higher level of education for 1.5 percent of employees. In the last two years, it has intensified company scholarships for youth, with 10 contracts having been concluded for this purpose.
The company's activities have a negative impact on the social environment, particularly in terms of environmental issues. Negative factors affecting the local community and the social environment are identified and addressed in the sustainability report.
The port of Koper is located in the urban environment of the historic city centre of Koper and the Municipality of Ankaran, whereas in the hinterland, it borders the protected area of Škocjanski Zatok. Therefore, concern for the quality of people’s lives and environmental protection is a priority highlighted in all development documents and key policies of the Company. The Company incorporated the principles of sustainable development into its operations and strategic orientations some time ago. In 2023, the Luka Koper Group continued to implement activities to achieve the objectives set out in the 2020-2025 Strategic Business Plan. In the 2024-2028 Strategic Business Plan, which was adopted in November 2023, the Luka Koper Group stated as its mission for the next five-year period to provide reliable, high-quality port services in line with sustainable development guidelines - with the aim of becoming the first choice among ports on the European southern transport route. The planned development is based on four starting points which provide for increasing infrastructure capacity and capability, accelerating the introduction of the smart port concept, ensuring adequate staffing, as well as taking care of sustainability aspects and reducing negative impacts on the environment and society.
The Luka Koper Group works well with the local community and aims to strengthen mutual relations through various joint projects. In July 2018, Luka Koper, d. d. and the Municipality of Koper signed a Letter of Intent and agreed on the implementation of mitigation measures, which was materialised in November 2019 by the signing of an Agreement on the implementation of mitigation measures to reduce the environmental impacts of port operations. In the agreement, Luka Koper, d. d., committed to pay a dedicated annual donation of EUR 200,000 to the Municipality of Koper in the period 2019-2023, and the municipality will distribute the funds on the basis of an annual call for tenders to the beneficiaries - the inhabitants of the Koper city centre, who are most exposed to the impacts of port operations due to their proximity to the port.
During the five-year period of the agreement, four public tenders were held, to which 637 applications were submitted. Of these, 114 beneficiaries were selected and awarded grants. The municipality of Koper received a donation in the total amount of EUR 1,000,000 from Luka Koper for this purpose.
On 22 December 2023, Luka Koper, d. d., and the Municipality of Koper signed a new agreement on the implementation of mitigation measures to reduce the environmental impact of port operations. By signing the agreement, Luka Koper, d. d., undertook to pay the Municipality of Koper a dedicated donation of EUR 320 thousand each year of the duration of the agreement from 2024 onwards. Over five years, the municipality will receive a total of EUR 1.6 million in earmarked funds, which will be distributed to beneficiaries on the basis of a public call for tenders to implement measures to reduce the environmental impact of port operations.
In 2023, Luka Koper, d. d. paid an additional earmarked donation of EUR 40,000 to the Municipality of Koper for the landscaping and green cover of public areas in the historic city centre of Koper. With the new park areas, the municipality has extended the city’s green system, contributing to improved living environment and mitigating the environmental impacts of the port operations.
121 GRI 203-2, 3-3, 413-1, 413-2
The Luka Koper Group is aware that good neighbourly relations can only be established based on fair, transparent, and timely communication with the surrounding. It keeps adapting its communication tools to modern trends, while remaining faithful to informing the general public and other stakeholders through the media and web portals (www.luka-kp.si, www.zivetispristaniscem.si, www.seonet.ljse.si) and social networks. Among them is the sustainable portal Living with the Port (Živeti s pristaniščem), which brings together information on social responsibility, sustainable and green development activities in one place. The website also publishes and regularly updates the results of measurements of air quality (particulate matter emissions), seawater and noise emissions during the day, evening and night.
The attitude of the local environment towards the company Luka Koper, d. d., is checked annually by a public opinion poll among the inhabitants of the narrow strip around the port. In 2023, a total of 405 inhabitants of the Municipality of Koper and the Municipality of Ankaran participated in the poll. When asked how they assess the reputation of Luka Koper, 84 percent of respondents considered it a very reputable or reputable company. According to the vast majority of respondents (87 percent), Luka Koper, d. d., is a successful or very successful business company. Two thirds of respondents (66 percent) also agree with the plans to extend the northern part of Pier I. A good half of the respondents (53 percent) agree with the expansion of the port to the Ankaran Bonifika.
In order to bring the port's operations closer to the local community and the general public, in May 2023, Luka Koper d. d. again organised the traditional Port Day, which it has been organising since 2008, providing the general public with in-depth guided tours and activities along with a varied accompanying programme. The Port of Koper also allows tours to organised groups during the year, and the number of such tours has been on the rise in recent years (more than 300).
The company demonstrates its social responsibility to the local environment, which is most affected by port operations, by supporting organised groups and individuals who implement projects or activities important for the quality of life of the population in the local area. In 2023, the Company re-launched a call for the distribution of sponsorship and donations from the Living with the Port fund, which is primarily intended to support smaller local projects. In the long run, the Company cooperates with key local stakeholders active in sports, culture, ecology, science, education and humanitarian activities. In 2023, EUR 1.4 million were allocated to these activities through sponsorships and donations.
In addition to the donation to the Municipality of Koper for the implementation of mitigation measures, in 2023, Luka Koper, d. d., also made a major donation to help eliminate the impacts of the August floods in Slovenia. It donated the required equipment and industrial dehumidifiers to the Administration for Civil Protection and Disaster Relief through the Red Cross Slovenia - Koper regional branch, and in a joint campaign with Adria Terminali and Goriške opekarne, it also participated in the donation of 241 pallets of brickwork for the needs of rebuilding damaged or completely destroyed buildings in flood areas. At the end of the year, it also signed an agreement with the Ministry of Finance, committing EUR 200,000 to the state to help eliminate the consequences of the floods.
GRI 201-1, 413-1
GRI 201-1, 413-1
In the context of sustainable relationships with customers, two impacts were identified and assessed in terms of their impact on stakeholders. Partnership with customers is one of the main building blocks of the business success of Luka Koper. The company's specific organisation has enabled it to develop a special relationship with its customers, which it has carefully nurtured and built on year after year: being an honest, professional and reliable business partner. In a period of crises marked by the COVID-19 pandemic, the war in Ukraine and the new crisis in Gaza and the Red Sea, personal contact with customers has been and remains the key to developing sustainable services and long-term partnerships. Port promotional events and receptions for business partners in hinterland markets were organised in 2023. Sales and marketing personnel visited key existing and potential customers in the domestic and Central European inland markets and overseas markets. The company participated in international trade fairs as an exhibitor and visitor. Active participation took place as part of economic delegations abroad. The company participated and appeared as speaker at numerous national and international industry conferences, roundtables and forums.
to obtain information for better understanding of the markets and related requirements. The company usually conducts a survey every two years on the satisfaction of service users, customers and the perception of Luka Koper, d. d., compared to its competitors. A customer satisfaction survey was conducted in autumn 2023 to measure once again how well the company is doing in ongoing monitoring of customer expectations. The survey confirmed the expected level of customer satisfaction and pointed to further opportunities for improvement. The next customer satisfaction survey is planned for 2025.
The Luka Koper Group works closely with the local port community, which consists of forwarders, ship brokers, carriers, rail operators, the police, the customs, the Slovenian Maritime Administration, inspection bodies, inspection and control service providers. The Luka Koper Group is only a part of the logistics chain, but an important one, representing a logistics route through the port of Koper together with other stakeholders.
The company has computer-aided procedures for entering, processing and resolving claims for billing and service delivery, as well as prescribed procedures to prevent recurrence and reduce the number of claims, which were further improved in 2023. Complaints are also an indicator of customer satisfaction; solving them effectively and quickly is crucial for increasing customer satisfaction.
Luka Koper, d. d. is aware of the importance of personal data protection. Data is collected in accordance with applicable legislation and used only to provide more appropriate services and to provide important information to customers. Given the size of the company and the number of personal data collections that the company manages and given that the company is defined as part of the national critical infrastructure, a Corporate Integrity and Operations Compliance, Protection of Personal Data and Human Rights Officer has been appointed in the company.
Luka Koper, d. d., provides port services for the handling and storage of goods for customers/buyers on a continuous 365-day, seven-days-a-week, 24-hours-a-day, three-shift basis, based on their needs and the orders received.
The weather conditions that occasionally cause disruptions and interruptions to cargo handling services in the Port of Koper mainly comprise strong winds, such as northerly or tramontana in the summer months and north-easterly or bora in the winter months. In the event of a strong wind forecast, some work processes most exposed to the wind are interrupted in the port for the safety of workers, work equipment and cargo. The cranes at the container terminal will automatically stop in the event of winds of 17 m/s or more. Such phenomena are rare and last mostly a few hours or a day or two at most.
There has been no strike at Luka Koper d. d., since 2011. Orderly and exemplary relations between the Management Board and trade unions and a high level of employee satisfaction allow work processes to run smoothly to the satisfaction of all stakeholders and represent a competitive advantage over ports where such interruptions occur from time to time.
Occasional interruptions due to routine maintenance of the Company's IT systems are communicated to users of our services in good time, and in the event of technical problems with the operation of these systems, we work with our subcontractors to resolve the problems as soon as possible and to mitigate any inconvenience that may arise.
In 2023, one of the potential positive impacts identified was digital transformation, i. e., automation and computerisation of processes.
In the same year, 'SMART PORT', a digitisation strategy for Luka Koper, d. d., was devised, the aim of which is to increase the digital maturity of the company through digital technologies, improve the use of resources and increase the port’s productivity, while also reducing its impact on the environment, which will also contribute to reducing operating costs. A broader view also covers the area of connectivity between different stakeholders in the logistics chain, with the aim of optimising global logistics and having a positive impact on economic growth and the environment. The company has therefore developed a set of activities, organised into major thematic clusters:
In 2023, the company has already launched a number of projects and activities to improve and digitise processes, and to increase the competences of its employees. A modern data warehouse has been set up to provide a comprehensive platform for operational reporting as a first step. Activities on decision-making models and digital twins have been launched. Renovation of the warehouse management system for encrypted goods and testing of forklift truck tracking equipment indoors has also started. A new mobile solution for unencrypted goods has been introduced to improve warehousing processes at the general cargo Terminal. Much attention has been paid to training employees to improve their digital competences through online training. Activities have started to set up a simulator to operate various types of machinery in use using virtual reality technologies. Technological and process optimisation continued across all port systems and the use of collaborative cloud solutions was expanded. Last but not least, the development of a new platform for business partners has been outlined, which will allow the development of additional functionalities in the area of web services, faster adaptation to the requirements of business partners and general improvements in the area of B2B integrations in the logistics chain.
In 2023, the company also held two online training programmes for all employees on its internal Knowledge Room platform:
| Business compliance and prevention of corruption | 27.1 Corporate integrity and operations compliance |
|---|---|
| Human rights, discrimination and diversity | 27.2 Respect for human rights. |
| Restrictions on the expansion of the port area | |
| Directly distributed economic value (payment of duties, taxes, dividend payments, etc.) | 25 Stability and business performance |
| Information Systems Security | 28 Information Systems Security |
| Leadership continuity | 4.3 Management system |
| Indirect economic value generated and distributed | 25.1 Indirect impacts of operations of Luka Koper |
| Financial Instruments | 25.2 Direct economic value generated and distributed |
A new 2024-2028 Strategic Business Plan was adopted at the end of 2023, setting out the governance objectives for sustainable development.
Luka Koper, d. d., as a socially responsible company, creates the conditions and the environment to ensure satisfaction of its customers, suppliers, employees, owners, as well as local and wider community, coexistence with the natural environment, and realisation of broader development projects. It maintains a balance between environmental and social aspects and economic requirements. The development strategy of Luka Koper is based on environmental management, its underlying principle being to introduce measures that will not only meet legal requirements, but also reduce adverse effects with the best available technology.
In 2023, the Luka Koper Group continued to implement activities to achieve the objectives set out in the 2020-2025 Strategic Business Plan. In 2023, the new 2024-2028 Strategic Business Plan was adopted, outlining a long-term five-year development path for the Luka Koper Group. It sets out key strategic objectives, strategic orientations, strategic and development projects. The Strategic Business Plan is reported in detail in Chapter 8 ‘Business Development Strategy’.
Measures to manage impacts are taken and monitored as part of the risk and opportunity management system, based on adopted policies, strategies, codes, regulations, rules of procedure, statements, guidelines and legislation, financial audits, stakeholder initiatives, complaints mechanisms, complaint mechanisms, etc.
The company's successful operations and reputation are linked to the work of material and service suppliers involved in the operation of the port system. Suppliers and procurement are reported in detail in Chapter 26 ‘Sustainable relationship with suppliers’.
To achieve its goals, the company also requires suitable infrastructure, which it ensures with corresponding investments and maintenance. Investments are reported in detail in Chapter 11 ‘Investments in non-financial assets’. The Corporate governance policy defines the company’s principal management orientation, which is reflected, inter alia, in achieving ambitious performance results, systematic improvement of the quality of work, and setting targets in business plans.
The Luka Koper Group has been implementing its strategy and objectives, managing its employees and working on their development, devising and managing processes, taking measures and controlling all the companies of the Luka Koper Group. The business objectives of the Luka Koper Group companies are set out in the annual business plans in accordance with strategic orientations. The processes and structures of individual Luka Koper Group companies are organized accordingly to achieve the set goals.
team meetings and other forms of working meetings. Verification is carried out by superiors executing direct verification, by means of reports on the completion of work, verification of work programmes carried out, verification of Management Board decisions implemented, business reporting, internal and external examinations, internal and external audit and managerial checks, work reports for projects, etc. In case of derogations detected during verification and other forms of control, measures will be taken at the system level in accordance Management Board decisions, risk measures and responsibilities.
The Luka Koper Group was among the first European ports to organise its entire operations in accordance with international quality standards, which are reported in Chapter 25.4 ‘Quality System’.
With its numerous direct and indirect effects, port operations play an extremely important role in the competitiveness of the wider economic area, creating added value in port operations and support port activities, and contributing to the creation of jobs as well as services and goods in the regional and national economy. The Luka Koper Group has significant direct and indirect effects on the Slovenian economy. Direct effects show in the added value generated in port operations (logistic services, cargo handling, internal transport, storage) and support port activities (pilotage, towage, victualling, maintenance of ships, berthing, vessel agents, the truck terminal, survey/inspection companies).
Indirect effects are particularly visible in the added value of forwarding, transportation, construction, technical, banking and insurance services and the services of public administration. The Luka Koper Group also gives encouragement to the wider social environment through sponsorships, donations and membership fees, and by paying compensation for the use of building land to the Municipality of Koper and the Municipality of Ankaran. Socially responsible activities (sponsorships, donations, mitigation measures) are reported in more detail in Chapter 22 ‘Social responsibility’. The municipalities also receive a part of the concession fee that Luka Koper, d. d., pays to the grantor, i.e., the state. The passenger transport is also conducive to the development of the city, the region and tourism.
The Luka Koper Group regularly pays salaries to employees, corporate tax, taxes and contributions from employee benefits, purchases to suppliers, dividends to owners. Since 2019, Luka Koper, d. d., has been paying a transhipment fee to the state for the construction of the second track.
Among significant impacts identified by Luka Koper and its stakeholders were employee salaries, dividends paid to owners, payment of income tax, taxes and contributions on employee remuneration, payment of the concession fee, payment of the fee for the use of building land, payment of the transhipment fee, and sponsorships and donations, which are shown in the table below.
| Direct economic value generated and distributed of Luka Koper, d. d., and the Luka Koper Group | (in EUR) |
|---|---|
| Luka Koper, d. d. | |
| Luka Koper Group | |
| 2023 |
Source: Study of the impact of port operations on the Slovenian economy from 2009 to 2018.
| Share in 2023 revenue | 2022 | Share in 2022 revenue | |
|---|---|---|---|
| A REVENUES | - from sales | 309,284,223 | 310,196,680 |
| - financing | 7,572,819 | 6,349,703 | |
| - other revenue | 4,040,758 | 2,338,538 | |
| Total A | 320,897,800 | 318,884,921 |
| Costs (excluding categories C, E, F and depreciation) | 2023 | Share | 2022 | Share |
|---|---|---|---|---|
| 72,499,871 | 23% | 56,591,808 | 18% | |
| Total B | 72,499,871 | 23% | 56,591,808 | 18% |
| Labour costs (excluding employer's contributions from employee remuneration) | 89,188,765 | 28% |
|---|---|---|
| 81,999,906 | 26% | |
| 96,390,760 | 29% | |
| 88,761,854 | 27% | |
| Total C | 89,188,765 | 28% |
| 81,999,906 | 26% | |
| 96,390,760 | 29% | |
| 88,761,854 | 27% |
| Dividends | 35,000,000 | 11% |
|---|---|---|
| 15,960,000 | 5% | |
| - government (Republic of Slovenia, SDH, KAD) | 23,486,090 | 7% |
| 10,709,657 | 3% | |
| - other owners | 11,513,910 | 4% |
| 5,250,343 | 2% | |
| Interest | 1,422,134 | 0% |
| 405,344 | 0% |
| Total D | 36,422,134 | 11% | 16,365,344 | 5% |
|---|---|---|---|---|
| 36,421,902 | 11% | 16,364,967 | 5% |
| Total E | 1,428,351 | 0% | 1,170,259 | 0% |
|---|---|---|---|---|
| 1,437,309 | 0% | 1,175,358 | 0% |
| Concession | 10,650,012 | 3% | 10,682,667 | 3% |
|---|---|---|---|---|
| 10,650,012 | 3% | 10,682,667 | 3% | |
| Corporate income tax | 10,672,466 | 3% | 13,568,209 | 4% |
| 10,929,687 | 3% | 13,725,541 | 4% | |
| Taxes and social contributions from employee remuneration | 12,529,356 | 4% |
| Fee for the use of building land | 6,826,341 | 2% |
|---|---|---|
| 6,830,441 | 2% | |
| 6,826,341 | 2% | |
| 6,830,441 | 2% | |
| Transhipment fee | 5,595,511 | 2% |
| 6,084,315 | 2% | |
| 5,595,511 | 2% | |
| 6,084,315 | 2% |
Transhipment fee – special-purpose funds contributed by the Port of Koper to the construction of the Divača–Koper second railway track.
| Total F | 46,273,686 | 14% |
|---|---|---|
| 48,743,554 | 15% | |
| 47,486,975 | 15% | |
| 49,802,399 | 15% |
Retained economic value (A-B-C-D-E-F)
| 75,084,994 | 23% |
|---|---|
| 114,014,050 | 36% |
| 78,871,494 | 24% |
| 116,241,138 | 36% |
Luka Koper, d. d., and its employees are members of the following organisations:
Luka Koper, d. d. is a signatory of:
Luka Koper INPO, d. o. o. is a member of the following organisations:
The introduction of a management system based on ISO internationally recognized standards in Luka Koper results from the decision to make systematic efforts to boost added value and customer satisfaction. The management system is implemented in Luka Koper, d. d., Luka Koper INPO, d. o. o. and Adria Terminali, d. o. o., in accordance with the definition in the Quality Management Rules of Procedure.
The unified management system combines requirements of different systems and other specific requirements:
Annual report 2023 229
Controlled systems are presented on the company's website Quality – Luka Koper, d. d. (luka-kp.si/en). In 2023, the unified management system of Luka Koper was again verified and certified by a professional and independent institution.
The Luka Koper Group strives for continuous process management and improvement based on the P-D-C-A (Plan, Do, Check, Act) or the Deming cycle. The Group continuously improves its business processes as part of its business process management. Improvement actions are introduced based on perceived opportunities or weaknesses in a particular process or management system. Implementation steps are tracked in an IT-based management system, with a final step, before completion, to check the effectiveness of their implementation. The implementation of improvement measures and the verification of effectiveness are also addressed in internal audits and the preparation and conduct of management reviews and reported to management.
The Luka Koper Group aims for an optimal number of suppliers in terms of procurement manageability as well as sufficient dispersion of suppliers to provide timely and appropriate purchases. The centralisation of procurement decisions has been subject to pre-determined responsibilities and powers of all the employees involved in the procurement process. While orders are issued and controlled centrally, procurement processes (goods collection, complaints, etc.) may also be carried out by decentralised organisational units of the company, which allows for a higher level of flexibility to meet the specific needs of individual organisational units. The company strives for well-organised, transparent business co-operation with suppliers, while maintaining an efficient, flexible procurement process that enables Luka Koper a smooth and efficient work process.
The Luka Koper Group pays great attention to developing relationships with suppliers in order to secure the necessary purchases in a timely manner, which are also appropriate in terms of quality and cost. This enables the transfer of good practices, enhances innovation, and creates added value for the users of port services, thus creating conditions for financial savings and more efficient port services. Common ground and mutual interests have to be found with the supplier, and the right balance achieved between the needs and expectations of the customer on the one hand, and benefits of the supplier on the other.
In accordance with the adopted procurement policy, which is the foundation of relations with suppliers and is based on respect for the company's core values, i.e. cooperation, responsibility, respect, affinity, and creativity, the company wants to achieve the key objectives – satisfaction of its customers, employees and owners – and ensure social responsibility to the environment. To some extent, the performance and reputation of Luka Koper depend on the performance of suppliers, therefore the company respects and appreciates their efforts in helping it achieve the key objectives. Efficiency, expertise, an ethical approach and integrity, social responsibility, environmental protection, and health and safety are the six principles of the procurement policy the Luka Koper Group wishes to pursue. The Procurement Policy of Luka Koper, d. d., serves as a guide for all employees and all suppliers. In the context of public procurement, Luka Koper, d. d., is committed to complying with the Decree on green public procurement, which further contributes to compliance with sustainable development guidelines.
or indirectly by increasing the efficiency and performance of work processes and business practices of the Company. Luka Koper strives to work with the best suppliers available. Strong partnerships have been built with a number of suppliers, who are also embracing the Company’s sustainability policy. Cooperation with new suppliers is based on a desire to transform it into a long-term partnership.
Suppliers are categorised by the Luka Koper Group into four groups: suppliers for investments, suppliers for technical services for own needs, suppliers for products (various materials), and external contractors (transhipment, movement, freight transport and warehouse cleaning) and agencies (selection of employers to provide employee work for the needs of the Luka Koper Group).
External contractors and recruitment agencies for individual services are selected in an open competition process. Framework agreements have been signed with four recruitment agencies, on the basis of which workers are posted to work in the port.
Long-term partnership relationships with suppliers contribute to the process of finding common solutions for higher quality of procurement process management. Luka Koper, d. d., maintains regular communication with potential new suppliers, who can get listed in the online database at https://luka-kp.si/slo/za-dobavitelje. Based on communication with suppliers and the submitted bids, certificates, qualifications and evidence of experience, the company strives to select the best suppliers to collaborate with.
Achievement of objectives in the process of building relationships with suppliers is monitored quarterly by means of pre-determined indicators. Based on the findings of the analyses looking into the progress towards achieving the procurement objectives and into the relationship with suppliers, the company regularly introduces improvements.
The selection of and collaboration with suppliers is a transparent pre-defined process. Preference is given to suppliers whose operation is in line with international management standards, who meet the requirements for occupational safety, show a high level of environmental awareness, and work with the Company and the Group in the spirit of principles and values shared by Luka Koper. Before being included in the list of suppliers, the credit rating of an individual supplier is always checked. In the event of any established tax debt or poor credit rating, the supplier is not invited to submit a bid. The criteria for the selection of suppliers also include commitment to social responsibility; therefore, when possible, preference is given to purchases that contribute to the economic development of the local environment. Here, the domestic market of the Republic of Slovenia represents the local environment, while the Koper and Ankaran municipalities represent the local community where the port operations are actually carried out. Almost 90 percent of the Company’s suppliers are from the local environment, i.e. companies based in Slovenia.
In 2023, the value of the total purchases of Luka Koper, d. d., excluding VAT, amounted to just over EUR 131 million. Purchases made in the Slovenian market accounted for 96 percent of the total value of purchases. No changes were made to the supply chain in 2023.
The Code of Conduct for Business Partners is published on the website Corporate Documents - Luka Koper d. d. (luka-kp.si). All suppliers sign and undertake to comply with the Code of Conduct for Business Partners. In our day-to-day contact with the suppliers assessed, we have not identified any suppliers with significant actual or potential negative social impacts.
Luka Koper, d. d. regularly monitors and evaluates the cooperation with suppliers for the entire Luka Koper Group, in accordance with the internal regulation Supplier Management, which governs the management of supplier relationships. Under this regulation, the company normally carries out an evaluation of suppliers once a year. The assessment for 2023 is still under way for a total of 40 suppliers. They are assessed based on pre-determined criteria. One of the criteria for assessing suppliers comprises assessment of the environmental awareness and compliance with the environmental requirements of each supplier and the possible use of an environmental management system and an environmental and occupational health and safety criterion, which assesses breaches in the field of occupational health and safety and the environment. In 2023, 32 percent of the suppliers assessed were found to have in the field of the environment and occupational health. We identified no significant additional actual or potential negative environmental impacts in the supply chain in 2023. We are in regular contact with all suppliers and have taken appropriate action or agreed remedial action for those where minor breaches have been identified. We have not terminated our relationship with any of our current suppliers in 2023 as a result of the identified breaches.
Suppliers are assessed in four separate categories: the category of suppliers for investments, the category of suppliers for technical services, the category of suppliers for products, and the category of suppliers for external contractors and recruitment agencies. Each year, the Company selects the best supplier in each category, and the winners are given recognition.
GRI 204-1
GRI 3-3, 308-2, 414-2
Luka Koper, d. d. and the other companies of the Luka Koper Group strive to respect and strengthen corporate culture, integrity and compliance in their business operations. With such an approach, they ensure for their operations to be compliant with legislation, good business practices and ethical principles.
The aim of companies of the Luka Koper Group is long-term successful performance, which refers to long-term development, and includes commitment to sustainable development, i.e. a socially responsible attitude toward the social community and natural environment. This commitment is ingrained in our values and corporate culture. In doing so, the Luka Koper Group is aware that its long-term success and reputation are also determined by its corporate integrity, which is established based on the compliance of its operations with the legislation, business practices and ethical principles, the Code of ethics of the Luka Koper Group companies (hereinafter ‘Code of Ethics’) and other codes of professional ethics that its employees adhere to.
On 14 October 2014, Luka Koper, d. d. signed the Slovenian Corporate Integrity Guidelines and thus became an ambassador of the Guidelines, thereby committing itself together with other major companies in Slovenia to systematically regulate this area. Seeking to create the conditions for a highly ethical and responsible business conduct, protecting the interests of all stakeholders and minimising risks that might arise due to non-compliant conduct of employees, contracting partners or third parties, Luka Koper, d. d., has established the professional position Corporate Integrity and Operations Compliance Officer. A Corporate Integrity and Operations Compliance, Protection of Personal Data and Human Rights Officer (hereinafter: ‘Corporate Integrity and Operations Compliance Officer’) has been appointed, who is independent and reports directly to the company's Management and Supervisory Board and has reporting powers to external supervisory bodies.
working for or on behalf of Luka Koper, d. d., or the Group, agencies, external consultants and other stakeholders related to the Company, and that the Group follows the principle of zero tolerance towards illegal and unethical and/or corrupt acts. This is expected of all individuals and organisations with whom we come into contact through our work, and includes customers, suppliers, consultants, associations, local authorities, government bodies and political parties.
The Code and Policy are available in electronic format on the Luka Koper, d. d., online portal to all employees, and on the Luka Koper, d. d., website to business partners and other interested parties. All new employees receive a printed copy of the Code and Policy upon being recruited and commit to respecting them by means of a statement. All employees, and particularly the executives, are expected to display a high level of professionalism and integrity in relation to other employees and also to customers, owners, the media, suppliers, public authorities and other partners. With their example, responsibility for results, the ability to transfer the goals of the organization into the goals of individuals, providing regular feedback on the performance of work to employees, managers guide employees in their development in the direction of achieving the company's shared goals and a higher ethical corporate culture.
In September 2019, the Management Board of Luka Koper, d. d. adopted the Corporate Integrity Strategy of Luka Koper, d. d, and the Luka Koper Group until 2025, which, in order to achieve the objective of building a system of ethical values and their internalisation with the knowledge that they are beneficial to all employees and Group companies, provides for the regulation of the management of conflicts of interest, the whistleblower system, prevention of money laundering, the treatment and misuse of inside information and the investigation of fraud, the implementation of the ISO 37001:Management Systems for the Prevention of Corruption standard, and the promotion of an appropriate culture. At the end of 2023, the new 2024-2028 Strategic Business Plan was adopted.
The Corporate Integrity and Operations Compliance Officer prepares an annual work plan, which includes the handling of reports, compliance reviews, a training plan as well as other activities related to the area of activity and is subject to approval by the Management Board and familiarisation by the Audit Committee of the Supervisory Board and the Supervisory Board. The Officer informs the Management Board, the Audit Committee of the Supervisory Board and, on an annual basis, the Supervisory Board of Luka Koper, d. d. about his/her work through quarterly reports.
In 2023, Luka Koper established an updated secure channel for internal or external reporting of irregularities, while it keeps supporting any expression of suspicion, in good faith or on the basis of reasonable belief and ensuring that a whistleblower is protected from any punishment or retaliatory measures. Each natural or legal person may address to the Corporate Integrity and Operations Compliance, Protection of Personal Data and Human Rights Officer a report of corporate integrity violations for which the Officer is responsible. The Officer and the Committee shall process all the reports and notifications, even if submitted anonymously. A report of a breach of corporate integrity may be made through the secure channel available on the website of the company Make a report - Luka Koper, d. d. (luka-kp.si), or directly to the Officer, or to the following address "[email protected]. The Officer and the Committee have to protect the identity of bona-fide whistleblowers and handle their data confidentially. In the event of illicit retaliatory measures against the whistleblower, appropriate procedures may be instituted against employees who carried out the illicit retaliation in accordance with the work code in force, of which the company management has to be informed. In case of an anonymous report, the identity of the bona-fide whistleblower should not be established. Each received report is recorded in the register of reported violations. Reports on reported violations are discussed regularly by the Audit Committee of the Supervisory Board, and also by the Supervisory Board once a year.
to be made. Care is also taken to ensure that the case is concluded within a reasonable time. If the suspicion is well-founded, the committee will issue a decision and/or propose the necessary measures to remedy the infringement or to prevent the occurrence of harmful consequences, or recommendations or guidelines for the elimination of identified irregularities. It can make suggestions for improvement or further action against the responsible persons or offenders. If it is established that there are grounds for suspecting the commission of an offence for which the offender is being prosecuted ex officio, the Officer may refer the complaint, or part of it, to another competent authority. The Officer and the Committee have to protect the identity of the whistleblower and handle their data confidentially. In the event of illicit retaliatory measures against the whistleblower, appropriate procedures may be instituted against employees who carried out the illicit retaliation in accordance with the work code in force.
In 2023, the Corporate Integrity and Operations Compliance Officer dealt with thirteen reports of alleged breaches of corporate integrity and compliance submitted by external and internal actors. Of the thirteen reports, all of which were anonymous, seven were substantiated, none of which concerned suspected corruption. Three complaints concerned alleged discriminatory treatment at work and were unfounded. Following a review of both the applications and the internal processes, the Officer made seven recommendations, which were implemented in 2023.
The Luka Koper Group seeks to protect its property against fraud and corrupt practices by having a relevant internal control system. Employees in higher-risk positions are required to sign declarations on related parties, protection of inside information and avoidance of conflicts of interest, which they are also required to implement in practice. In 2023, the Corporate Integrity and Operations Compliance Officer ensured that these declarations were collected and recorded.
The Luka Koper Group has a Policy on Acceptance of Gifts in Group Companies, which defines limit values of gifts and hospitality and is available to all employees on the Luka Koper portal. As gifts and hospitality may create the appearance of an attempt to influence the objective and impartial performance of the work of Luka Koper employees or representatives of third parties, the circumstances in which gifts and hospitality are accepted and given must be handled with the utmost care and in accordance with the applicable legislation and the internal regulations of Luka Koper. Gifts or hospitality may be given, offered or accepted if they are reasonable and appropriate and where there is no risk of creating the impression that the recipient's decision has been unduly influenced. Gifts should be symbolic or of small value, and entertainment should not be inappropriate or exceed reasonable costs. Spending on lavish or inappropriate gifts or entertainment (hospitality) can be defined as corruption and is therefore prohibited. Regardless of value, no staff member may accept or offer gifts of money, securities, gift and value vouchers, cards or precious metals. Luka Koper, d. d., keeps a record of gifts received. In case of uncertainty about accepting or offering a gift or hospitality, the employee should consult the Corporate Integrity and Operations Compliance Officer.
In 2023, Luka Koper, d. d., adopted a communication plan on corporate integrity with internal and external stakeholders. The plan contains communication principles, content, frequency, target groups, methods, and the persons responsible. The communication plan will be updated annually to ensure that all relevant content and stakeholders are included.
Following the implementation of the Code of Conduct for Business Partners of the Luka Koper Group, in 2023, the system of financial controls for verifying suppliers and customers was supplemented by a detailed review of their financial situation and non-financial controls, ownership structure, beneficial owners and their reputation. The business partner shall sign a declaration of conduct in accordance with the Code of Conduct for Business Partners of the Luka Koper Group, which shall oblige them to act in this manner in relation to the companies of the Luka Koper Group. Business partners that do not have due diligence measures in place in their processes and where feasible are required to implement these measures, otherwise Luka Koper d. d. may consider the risk to be unacceptable and terminate the cooperation. Business partners acting on behalf of or for the benefit of Luka Koper shall be informed of this prior to entering into or extending the contractual relationship and shall be warned of the nullity of the contract in the event of bribery. All contracts include an anti-corruption clause.
Non-compliance management is ensured by identifying and documenting non-compliance, addressing and correcting it, analysing the causes of non-compliance, identifying the necessary improvement actions to prevent recurring non-compliance, and understanding and clearly allocating responsibilities. Corrective action identifies and analyses the actual causes of deviations, while preventive action aims to eliminate the causes of potential non-compliance.
In the area of operations compliance, seven audits were carried out in 2023. In line with the work plan, compliance audits were carried out in the areas of contracting and performance, payment recovery, protection of personal data, handling of public information and procurement, management of business secrets and inside information, management of conflicts of interest, whistleblowing and safeguards in key processes to manage and prevent corruption. Several recommendations were issued. All recommendations, except for one due in 2024, have been implemented.
In the period from 1 January 2023 to 31 December 2023, 19 inspections or controls were carried out in Luka Koper, d. d.: 9 procedures are still ongoing, 10 procedures have been discontinued as irregularities have been corrected or none have been detected. In the same period, 24 inspections or controls were carried out in the Luka Koper Group, of which 12 were still pending and 12 were discontinued as at 31 December 2023. The inspection procedures did not reveal any significant deviations or breaches. Where deficiencies were identified, they were eliminated during the duration of the procedure, one subsidiary was fined EUR 30 for the offence identified, and no other more severe or restrictive measures were imposed that would have any impact on business processes. The inspections were mainly carried out by the Labour Inspectorate and the Environment and Energy Inspectorate.
The Luka Koper Group is strengthening the process of promoting ethical values and internalizing them and ensures the management of risks the consequent reduction of operating losses. The Group pursues professionalism, loyalty and integrity in relation to its employees, customers, owners, media, suppliers, state and local authorities and other stakeholders, and concludes business relations transparently, respecting competitiveness and good business practices and with zero tolerance for corrupt or ethically questionable practices or unfair business practices. With the principles and rules of business ethics thus set, the Luka Koper Group seeks to establish the conditions in which its suppliers, customers, as well as their employees and contractors, and other stakeholders will be working in the spirit of the ethical rules of conduct.
In 2023, Luka Koper established a management system for the prevention of corruption that meets the requirements of ISO 37001:2016 Management Systems for the Prevention of Corruption. In January 2024, the company successfully passed the certification audit. The Rules of Procedure of the Luka Koper d. d. Management System Concerning the Prevention of Corruption were adopted, defining all the key building blocks of the system: the context of organisation, leadership and commitment, roles, responsibilities and authorities, planning, support, implementation, and process management and improvement.
In planning and designing activities to establish and maintain a management system for the prevention of corruption, the company analyses and takes into account the context of the organisation, the needs and expectations of identified stakeholders and assesses the corruption risk at the organisational level on a regular basis, whenever there is a change in the assessment, and at least once a year. At the same time, it introduces measures to reduce the identified risks and determines the methods of their implementation.
In 2023, Luka Koper, d. d. carried out an assessment of corruption risks in individual processes in accordance with the uniform methodology at the Group level, as presented in Chapter 14 ‘Risk and Opportunity Management’. The company estimates that it has listed all corruption risks relevant to the company. According to the inherent risk assessment prior to the measures taken, the highest rated risks were those related to the procurement of materials, goods and services and capital investments, and the related assessment of needs regarding procurement (key corruption risks related to the deliberate procurement of unnecessary materials, goods or services, possible procurement of surplus quantities, the use of unreasonably narrow technical specifications, failure to manage conflicts of interest and protect confidential information), sales (key corruption risks related to the possible setting of unusual commercial terms, unequal treatment in the provision of services and the possible write-off of receivables or issuance of credits) and recruitment (risk of awarding good employment positions and recruitment on the basis of personal, business or other inappropriate contacts for favours outside the company).
Following a job risk analysis, persons in positions with a higher corruption risk rating are required to complete a declaration on the management of conflicts of interest, specifying the entities with which they are associated. The statement on the management of conflicts of interest is also signed annually by the members of the Supervisory Board, the Management Board and other senior employees (b-1) and forwarded to the Corporate Integrity and Operations Compliance Officer, who maintains the list. In the event of a potential conflict of interest, the person is obliged to inform his/her supervisor and the Officer, who shall take appropriate measures in accordance with the Conflicts of Interest Management Policy.
Luka Koper, d. d., manages the risk of sponsorship and donation funds being used as a means of bribery by having a Sponsorship and Donation Strategy approved by the Management Board and communicated to the Supervisory Board. The Strategy defines how applications will be processed, the appointment and functioning of the Committee, the criteria for the award of funds and the demonstration of compliance by the recipients of sponsorship funds. As part of the preparation of the business plan, a budget shall be established for sponsorships and donations, which shall not exceed 0.8 percent of net sales revenue. Once a year, the company launches the "Living with the Port" call for proposals, which is aimed mainly at one-off or one-year projects, primarily from the local environment. The call is governed by the Terms and Conditions and the criteria for the funding of projects under Luka Koper’s sponsorship/donation call, which are publicly available on the sustainability portal www.zivetispristaniscem.si. Interested parties can send their proposals outside the call for proposals using the electronic form published on the company's website. In the case of sports associations and federations, the amount of the sponsorship is determined on the basis of pre-defined criteria. Any donation or sponsorship must be approved by the Company's Management Board and be subject to the conclusion of a contract. To measure the success of the sponsorship and donations management process, indicators with targets are set and regularly monitored.
The Corporate Integrity and Operations Compliance Officer oversees the implementation of the corruption risk management system, provides support to employees on issues related to corruption risks and corruption prevention activities. The responsibility to manage corruption risks is the responsibility of all individuals working for Luka Koper d. d. or the Group. The expected behaviour set out in the Anti-Corruption Policy is also expected of all individuals, companies or organisations with whom we come into contact in the course of our work, including customers, suppliers, consultants, associations, representatives of local communities, government bodies, political parties and other stakeholders.
The good practice of providing each new employee with a Code of Ethics and a practical guide to ethical conduct, which also identifies the risks of corruption, continues at the time of recruitment. All are introduced to the principles of port security, which cover integrity and corruption (how to behave in the workplace, ethical conduct, protection of business secrets, etc.). In 2023, all new employees were made aware of this, and in particular, employees who were recognised as performing work in positions with higher risks in this regard took part in training on corruption and integrity risks. Recruitment or promotion to these positions is subject to additional due diligence following an assessment of the position's risk of corruption. Awareness-raising and training of employees on corruption risks is carried out according to a programme prepared and updated at least once a year, or in the event of major changes, by the relevant Human Resources department in cooperation with the Corporate Integrity and Operations Compliance Officer. The training programme is adapted to the level of exposure of the workplace to corruption risks and provides for a training frequency of at least once a year. The targeted training programme develops employee competences to identify risks early and apply safeguards to prevent corruption acts. Employees are encouraged to contribute to the effectiveness of the management system for the prevention of corruption by suggesting improvements. If an employee is offered or asked to pay a bribe by anyone, or if there is any suspicion of bribery, corruption or a breach of policy, the employee has a duty to report it to their supervisor and the Corporate Integrity and Operations Compliance Officer.
In 2023, the Luka Koper Group again organised training programmes in the field of corporate integrity, human rights, compliance and personal data protection:
31 Dec 2023
| Region of residence | Job category | Number of employees who |
|---|---|---|
| Region | Number | Share of all employees in % |
|---|---|---|
| Coast-Karst Region | 323 | 18.4 |
| Central Slovenia | 298 | 17.0 |
| Primorska and Notranjska Region | 19 | 1.1 |
| Job Category | Number | Share of all employees in % |
|---|---|---|
| Management (Management Board, b-1) | 8 | 0.5 |
| Other management | 74 | 4.2 |
| Highly skilled | 106 | 6.0 |
| Operators | 124 | 7.1 |
| Other | 3 | 0.2 |
| Number | Share in % of all members of management bodies | |
|---|---|---|
| Coast-Karst Region | 5 | 45 |
| Central Slovenia | 4 | 36 |
| Savinjska region | 1 | 9 |
| Posavska Region | 1 | 9 |
| Total | 11 | 100 |
In 2023, there were no confirmed cases of corruption in the Luka Koper Group.
One impact was identified and assessed in terms of impact on stakeholders in the context of corporate integrity and compliance.
The Diversity Policy of the Management Board and Supervisory Board, amended in 2021, ensures diversity in the management bodies by setting out the target diversity to be pursued in terms of representation on the Supervisory Board and Management Board of the company in terms of gender, age, education and other personal circumstances of the members, as appropriate for the company, published on the website Corporate Documents - Luka Koper d. d. (luka-kp.si).
With the Diversity Policy of the Management Board and the Supervisory Board, the Company has set the framework for the composition of the two bodies to include appropriate representation of both genders (female and male) and varying age groups with a diverse range of relevant knowledge, skills and experience, which, given optimum management and risk control and management, ensures the long-term success of the Company in meeting its objectives and implementing its strategy (the diversity of the members of the Management Board by gender and age is reported in Chapter 4.6.2 ‘Presentation of members of the Management Board of Luka Koper, d. d. as at 1 January 2024’, and on the gender and age diversity of the Supervisory Board in Chapter 4.5.1 ‘Composition of the Supervisory Board’).
Based on identifying key personnel and successors, the company has prepared a range of candidates whose career objectives include the membership of the Management Board. This is a range of candidates/employees with various knowledge and experience, of different genders and ages; however, the process of selecting members of the Management Board is not within the competence of Luka Koper, d. d., but the Supervisory Board.
141 GRI 2-23, 2-25, 2-26, 3-3, 406-1
142 GRI 3-3
Since 2019, Luka Koper, d. d. has been a signatory to the Commitment to Respect Human Rights. The company is active within the working group of the Government of the Republic of Slovenia for the implementation of the National Action Plan on Business and Human Rights (NAN)144. With this commitment, the company also follows the recommendations and expectations of SSH, which expects companies with state-owned assets to implement the relevant principles of the National Action Plan of the Republic of Slovenia on Business and Human Rights and to set an example to other companies in terms of respect for human rights.
In 2022, the Luka Koper Group adopted an action plan for the implementation of the Commitment to Respect Human Rights in Business, which includes both one-off and continuous measures or activities.
One-off measures include the systematisation of a post of Corporate Integrity, Compliance, Data Protection and Human Rights Officer in 2022, followed by the appointment of the Officer by the Management Board and confirmation by the Supervisory Board in 2023.
Another one-off measure is the establishment of a complaints mechanism for reporting human rights violations. Any natural or legal person may submit an application directly to the Officer or on the company's website https://www.luka-kp.si/slo/prijava-nepravilnosti. The Officer and the Committee shall process all the reports and notifications, even if submitted anonymously.
The existing Dignity at Work Policy is in the final stages of revision and has been transformed into the Regulations on the Prevention of Harassment and Ill-treatment in the Workplace.
Respect for human rights is an integral part of Luka Koper policies, enshrined in the company's values (responsibility, cooperation, respect, affiliation, creativity), the Code of Ethics, and various regulations (Dignity at Work Policy, Policy on Ensuring Health and Safety in the Port of Koper, Regulations on the Provision and Protection of Personal Data, Rules on acceptance of gifts, and the Practical Guide to Ethical Conduct). All employees have access to documents on the intranet.
- Preventing ill-treatment at work, ensuring equal opportunities for employees and preventing discrimination
The principle of gender equality is included in the diversity policy of the company's Management Board and Supervisory Board. Diversity and equal opportunities are also defined in the internal documents of the management system. The principle of non-discrimination and equal treatment of all candidates in selection and recruitment procedures shall be strictly observed when announcing vacancies. Equal treatment of employees in career development and remuneration procedures is guaranteed. All employees have equal opportunities for vocational and professional training and education. To prevent precarious work, in 2020 the company changed its business model from a port operations providers model to a three-pillar business model: full-time employees, agency workers and, to a lesser extent, external service contractors. Agency workers are guaranteed the same rights and pay as regular employees. As a general rule, the company concludes employment contracts for an indefinite period and only in exceptional cases for a fixed period. Employees enter into a full-time employment relationship or, only in exceptional cases, part-time employment for the reason of ensuring parental care or health care rights.
Despite the low proportion of women in the workforce, the proportion of women is high among professional and top management staff (Management Board, level b-1) (the gender and age diversity of the workforce is reported in Chapter 21.1 ‘Employee management and training system’). As part of the periodic measurement of organisational climate, satisfaction and engagement, employees have the opportunity to rate statements in the areas of integrity and diversity. This provides additional verification of possible unequal treatment of employees.
In 2023, one case of suspected harassment and ill-treatment at work was discussed based on formal complaint. The report of alleged harassment was well-founded.
Footnotes:
143 GRI 2-16
Each employee and agency worker receives a copy of the company's Collective Agreement and Code of Ethics, signs a declaration of adherence to the provisions of the Code of Ethics and becomes familiar with them. Four employees completed the training and obtained the certificate to act as a confidant in cases of harassment. Staff members acting as mentors and practical training instructors have pedagogical training. Peaceful settlement of disputes, respectful communication and peaceful resolution of potential conflicts through dialogue are promoted.
The company is committed to environmental protection, nature conservation and sustainable resource management (environmental measurements, reporting, maintenance of environmental management standards (EMAS, ISO 14001) and occupational safety (ISO 45001), measurement of workplace microclimate (humidity, light, noise, vibration, chemical substances)). Every employee is trained in safe working practices on recruitment and periodically. The Decree on green public procurement is respected in the implementation of public procurement. Renewables (solar power) are provided, and the circular economy is pursued for waste. Environmental noise levels, as well as air and seawater quality are measured. A culture of prevention in the field of safety and health at work is encouraged (with appropriate training for safe work, technological procedures, cleanliness of work surfaces, inspections of work equipment, medical examinations, monitoring of psychosocial risk factors, investigations of occupational accidents).
The protection of elderly and disabled workers is ensured by complying with the provisions of the legislation (in the case of the elderly, overtime, night work, additional days of leave, careful management of the proceedings before the Disability Commission, finding suitable employment in cases of disability according to the remaining working capacity, or reassigning the worker to the disability company Luka Koper INPO, d. o. o.). Employees are encouraged to exercise and eat healthily, a sports club is promoted, sports games are organised annually in the port, a health promotion group is set up, whose activities are aimed at managing musculoskeletal disorders, reducing metabolic problems, improving interpersonal relations and reducing harmful habits.
The Luka Koper Group respects the rights of employees to freedom of association, membership in trade unions and the Works Council, and other forms of association. Communication is open and respectful, without any misrepresentation of facts or misleading and unauthorised transfer of information at all levels and in all areas of conduct in the Company, both in formal and informal communication. Work criticism is part of open communication and should be directed at activities rather than persons.
The table below states the human rights that were recognised within the employee working group responsible for implementing sustainable reporting under GRI standards as most relevant to all employees of Luka Koper, d. d. For the human rights identified as material, rated 1, the last column of the table shows the KPI value in 2023.
| FUNDAMENTAL RIGHTS AND FREEDOMS | Human rights | Employees | Importance 1-4 | KPI | KPI value for 2023 for materiality 1 |
|---|---|---|---|---|---|
| The right to life | X | 1 | No of deaths | No fatalities in 2023. | |
| Prohibition of forced labour | X | 4 | No of hours of work | / | |
| Freedom of expression – in connection with the right to organised trade union movement; smearing by the media | X |
| No of actions to mute someone | |
|---|---|
| No of cases of data misuse (reported) | No reports of misuse of personal data in 2023. |
| Average No of hours of training | 19.2 |
|---|---|
| No of reports | In 2023, one case of suspected harassment and ill-treatment at work was discussed based on formal complaint. The report of alleged harassment was well-founded. |
|---|---|
| No of strikes, conventions | No strikes in 2023, there was 1 rally. |
|---|---|
| No of representative trade unions | The company has 2 representative trade unions. |
| Agreement with trade unions | 4 agreements were concluded in 2023. |
| Salary levels for the same position | Reported in Chapter 21.1.11 ‘Employee benefits’ |
|---|---|
Reported in Chapter 21.1.11 ‘Employee benefits’
No such cases in 2023.
Reported in Chapter 20 ‘Safe and healthy port environment’
71.1% use of annual leave (until 31 Dec 2023)
Reported in Chapter 21.1.11 ‘Employee benefits’
Reported in Chapter 19 ‘Long-term sustainability of the natural environment’.
Luka Koper, d. d., has an established system for the protection of information assets, which it continuously improves in accordance with the professional guidelines of various information security frameworks, including the ISO/IEC 27000 standard for information security management systems. Luka Koper, d. d., is liable under the Information Security Act (ZInfV). In accordance with legislation, the Company maintains a documented information security management system and a business continuity management system. The Security Policy of Luka Koper, d. d. is the starting point for ensuring and implementing all aspects of the company's security, including the information security segment.
Appropriate strategies and policies are key to ensuring the security of IT systems, protecting sensitive data and maintaining the trust of customers and business partners. In 2023, as part of the preparation of the new 2024-2028 Strategic Business Plan, Luka Koper d. d. also developed a digitisation strategy, which aims to implement a digital transformation in key processes through the use of new technologies towards the smart port concept. To achieve this, the company has identified 6 key segments, including Information and Communication Technology (ICT), which includes key cyber resilience projects. Strategic orientations for information systems security are:
Understanding the importance of information security and managing risks in the field of information and communication technology by implementing measures to protect information systems and ensure business continuity are key to achieving the company's strategic objectives and business performance.
Information security risks are identified within the framework of the Luka Koper Group's Risk and Opportunity Management System and are kept in a central register, and a member of the Risk and Opportunity Management Committee is also Head of the Information Security Department. The risk assessment is carried out in accordance with the requirements of the Information Security Act (ISA), namely at the level of information assets, threats and vulnerabilities, which allows for a more comprehensive definition of measures to achieve the strategic objectives.
In 2023, the same as the year before, information security risks are assessed as moderate following the measures and control activities taken, whereby the risk is controlled to an acceptable level. In 2023, Luka Koper, d. d., detected no security incidents in the area of IT support, which includes unauthorised access and abuse of vulnerabilities.
However, the rapid development of information technology requires a constant adaptation of tools and methodologies in the field of information security to ensure the availability, integrity and confidentiality of information systems and thus the continuity of the company's operations. In accordance with the set strategy and annual plans, the company implements measures to prevent cyber-attacks, detect potential security incidents and respond effectively to them, thereby strengthening the company's resilience and reducing the possibility of negative consequences. Measures fall into the following categories:
Source Intelligence (OSINT) tools and paid resources with the aim of adapting measures to ensure additional protection in this area. The company is included in the network of cyber security response centres, through which it receives indicators of abuse from the SI-CERT Slovenian Computer Emergency Response Team, which enables the company to quickly detect and respond to potential cyber threats in the Republic of Slovenia and neighbouring EU countries and to identify the most common attack vectors.
In accordance with the annual plan, Luka Koper, d. d., introduced additional security mechanisms in 2023 to ensure a higher level of information security:
Statement on the use of GRI standards
Luka Koper, d. d., and the Luka Koper Group, reported in accordance with GRI standards for the period from 1 January 2023 to 31 December 2023.
| GRI 1 used | GRI 1: Foundation 2021 | Applicable GRI sector standard | - |
|---|---|---|---|
| GRI standard | Disclosure | Boundaries | Chapter | Page | Note/disclaimer | Omitted | Reason | Explanation |
|---|---|---|---|---|---|---|---|---|
| GRI 2 GENERAL DISCLOSURES 2021 | The organization and its reporting practices | GRI 2 | 2-1 Organizational details | Luka Koper Group | 7 Presentation of the Luka Koper Group and a description of the business model | 7.1 Company profile of Luka Koper, d. d. as at 28 March 2024 | 15 The LKPG Share | p. 52 |
| GRI 2 | 2-2 Entities included in the organization’s sustainability reporting | Luka Koper Group | 7.2 Organisation of the Luka Koper Group and associates | 7.3 Inclusion in the consolidated financial statements | p. 54 | p. 54 |
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16.3.2 Reporting periods
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16.3 Sustainability report according to international standards of sustainability reporting
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16.3.4 External verification of sustainability report
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7 Presentation of the Luka Koper Group and a description of the business model
7.4 Activities of the Luka Koper Group
9.2.1 Market position
26.2 Supply chain
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21.1 Employee management system
21.1.2 Number of employees in Luka Koper, d. d., and in the Luka Koper Group, by gender
21.1.3 Number of employees in Luka Koper, d. d., and in the Luka Koper Group, by region of residence
21.1.6 Employee structure in Luka Koper, d. d. and Luka Koper Group by age group
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Critical impacts are not counted. They are only reported.
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In the years 2021, 2022 and 2023, no fines were imposed in the company Luka Koper, d. d. In 2023, one financial penalty of EUR 30 was imposed in a subsidiary.
Luka Koper, d. d., Luka Koper INPO, d. o. o.
Stakeholder engagement
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201-3a, 201-3b, 201-3c not covered.
Company has no own pension plan. By paying the prescribed contributions, employees are covered by the statutory pension scheme. A few years ago, we also joined voluntary supplementary pension schemes run by various pension fund managers. The Company/Group pays part of the voluntary supplementary pension insurance premium on a monthly basis, and part of the premium is paid by the employees themselves. After paying the additional pension insurance premiums, which are settled on an ongoing/monthly basis, the company has no other obligations in this regard.
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27.2 Prevention of corruption
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27.2 Prevention of corruption
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8 Business development strategy
18 Luka Koper Group and sustainable development guidelines
19.2 About the environmental management system
19.3 Living in harmony with the environment
19.4 Policy on safety and health in the port and energy efficiency
19.5 Compliance with environmental protection requirements
19.6 Public communication
19.7 Environmental risk management and emergency response
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19.8 Emissions/immission from port operations
19.11 Energy use and energy efficiency
p. 137
Luka Koper, d. d.
19.11.2 Consumption of energy sources p. 166
Omitted 302-1c ii, iii, iv and d. There is no steam production, so we do not report it.
Energy consumption for heating and cooling is not reported separately as these sources are not measured separately but are included in the total consumption of energy sources.
We do not sell electricity.
Luka Koper, d. d.
19.11.2 Consumption of energy sources p. 166
Luka Koper, d. d.
19.11.2 Consumption of energy sources p. 166
Luka Koper, d. d.
19.3.3 Realisation of environmental objectives in the period 2021-2023
19.11.2 Consumption of energy sources
19.11.5 Implementation of improvement programmes to reduce electricity and fuel consumption
p. 124
p. 166
p. 169
p. 144
p. 171
p. 174
Luka Koper,
Luka Koper,
Luka Koper,
Omitted 303-3b. The area is not identified as a water-scarce area.
Luka Koper,
p. 126
Omitted 303-4c. The area is not identified as a water-scarce area, which would
252 Annual report 2023 GRI content index (according to 2021 standards)
p. 171
require an additional breakdown by individual discharges.
Luka Koper, d. d.
p. 144
p. 171
Omitted 303-5 b, c.
b. The area is not identified as a water-scarce area.
c. No storage of water supplies that would affect the water consumption of the immediate or wider area.
Luka Koper, d. d.
p. 177
zaščitenih območij
Luka Koper, d. d.
p. 120
p. 177
Luka Koper, d. d.
p. 120
p. 177
p. 120
p. 177
Luka Koper, d. d.
253
Luka Koper, d. d.
p. 137
p. 165
Luka Koper, d. d.
Luka Koper, d. d.
Luka Koper, d. d.
Luka Koper, d. d.
Everything is converted to CO2 equivalents, so that all contributions can be added up, which is why we did not perform the conversion in CFC-11.
Luka Koper, d. d., does not import or export ozone-depleting substances.
Luka Koper, d. d.
p. 138
p. 139
p. 142
p. 150
Luka Koper, d. d.
p. 159
Luka Koper, d. d.
p. 176
Luka Koper, d. d.
p. 152
p. 158
*
254 Annual report 2023 GRI content index (according to 2021 standards)
p. 152
p. 154
306-2 Management of significant waste-related impacts
p. 152
p. 154
306-3 Waste generated
p. 154
306-4 Waste diverted from disposal
p. 154
306-5 Waste directed to disposal
3-3 Management approach
p. 229
p. 230
p. 231
*
308-2 Negative environmental impacts in the supply chain and actions taken
p. 231
3-3 Management approach
p. 201
Luka Koper
p. 206
p. 207
p. 207
p. 207
255
Luka Koper, d. d.
p. 208
Luka Koper
p. 209
Luka Koper
p. 192
Luka Koper Group
Luka Koper Group
Luka Koper Group
Luka Koper, d. d.
Luka Koper, d. d.
Luka Koper Group
Luka Koper Group
Luka Koper Group
Luka Koper Group
Luka Koper Group
p. 201
*
| 404-1 | Average hours of training per year per employee | Luka Koper Group | 21.2.1 Employee training | p. 212 | |
|---|---|---|---|---|---|
| GRI 404 | 404-2 | Programs for upgrading employee skills and transition assistance programs | Luka Koper Group | 21.2.2 Introduced programmes | p. 213 |
| GRI 404 | 404-3 | Percentage of employees receiving regular performance and career development reviews | Luka Koper Group | 21.2.3 Promotion and internal mobility of employees | p. 213 |
Annual report 2023 257
p. 31
p. 232
p. 237
p. 237
*
| 405-1 | Diversity of governance bodies and employees | Luka Koper Group |
|---|---|---|
p. 31
p. 36
p. 203
p. 210
p. 211
p. 211
Luka Koper, d. d.
27 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights
27.3 Respect for human rights.
p. 232
p. 237
Luka Koper, d. d.
27.3 Respect for human rights.
p. 237
Luka Koper, d. d.
18.1 Sustainable development strategy
22 Social responsibility
p. 99
p. 116
Luka Koper, d. d.
7.4 Activities of the Luka Koper Group
19.6 Public communication
19.6.3 Registered and processed environmental complaints
19.10.1 Noise emission results
19.10.2 Implementation of noise reduction improvement programmes
19.10.3 Noise control improvement programmes scheduled for 2024
19.16.1 Statistics for interventions at sea
p. 55
p. 128
p. 132
p. 160
p. 163
p. 165
p. 182
p. 216
p. 217
p. 218
p. 225
Luka Koper, d. d.
p. 160
p. 163
p. 165
p. 216
Luka Koper, d. d.
p. 229
p. 231
*
Luka Koper, d. d.
p. 231
| (in EUR) | 2023 | 2022 | 2023 | 2022 |
|---|---|---|---|---|
| Net sales | 309,284,223 | 310,196,680 | 312,772,489 | 313,462,636 |
| Capitalised own products and services | 91,388 | 77,600 | 95,639 | 77,611 |
| Other income | 4,040,758 | 2,338,538 | 6,068,506 | 4,265,615 |
| Cost of material | -22,147,066 | -22,796,898 | -22,410,601 | -23,204,563 |
| Cost of services | -85,222,742 | -74,316,012 | -79,867,051 | -69,329,678 |
| Cost of labour | -101,718,121 | -93,577,828 | -109,876,184 | -101,241,289 |
| Depreciation | -32,263,102 | -30,799,846 | -32,819,539 | -31,487,994 |
| Other expenses | -12,832,099 | -9,392,711 | -13,050,836 | -9,427,804 |
| Operating profit | 59,233,239 | 81,729,523 | 60,912,423 | 83,114,534 |
| Finance income | 7,572,819 | 6,349,703 | 6,391,292 | 3,867,468 |
| Year | Amount |
|---|---|
| 1 | -1,683,570 |
| 2 | -1,244,790 |
| 3 | -1,709,016 |
| 4 | -764,667 |
| Year | Amount |
|---|---|
| 1 | 5,889,249 |
| 2 | 5,104,913 |
| 3 | 4,682,276 |
| 4 | 3,102,801 |
| Year | Amount |
|---|---|
| 1 | 0 |
| 2 | 0 |
| 3 | 1,780,357 |
| 4 | 1,734,285 |
| Year | Amount |
|---|---|
| 1 | 65,122,488 |
| 2 | 86,834,436 |
| 3 | 67,375,056 |
| 4 | 87,951,620 |
| Year | Amount |
|---|---|
| 1 | -5,219,628 |
| 2 | -13,377,322 |
| 3 | -5,448,518 |
| 4 | -13,471,233 |
| Year | Amount |
|---|---|
| 1 | -5,452,838 |
| 2 | -190,887 |
| 3 | -5,481,169 |
| 4 | -254,308 |
| Year | Amount |
|---|---|
| 1 | 54,450,022 |
| 2 | 73,266,227 |
| 3 | 56,445,369 |
| 4 | 74,226,079 |
| Year | Amount |
|---|---|
| 1 | 0 |
| 2 | 0 |
| 3 | 0 |
| 4 | -66,280 |
| Year | Amount |
|---|---|
| 1 | 54,450,022 |
| 2 | 73,266,227 |
| 3 | 56,445,369 |
| 4 | 74,159,799 |
| Year | Amount |
|---|---|
| 1 | 0 |
| 2 | 0 |
| 3 | 56,393,649 |
| 4 | 74,112,143 |
| Year | Amount |
|---|---|
| 1 | 0 |
| 2 | 0 |
| 3 | 51,720 |
| 4 | 47,656 |
| Year | Amount |
|---|---|
| 1 | 3.89 |
| 2 | 5.23 |
| 3 | 4.03 |
| 4 | 5.29 |
(in EUR)
| Luka Koper, d. d. | Luka Koper Group | Note | 2023 | 2022 | 2023 | 2022 | |
| Net profit for the period | 54,450,022 | 73,266,227 | 56,445,369 | 74,159,799 | |||
| a) Items of other comprehensive income, classified by nature and grouped together: | |||||||
| Actuarial gains or losses on post-employment benefits | -280,760 | 174,977 | 23 | -331,085 | 132,137 | ||
| Deferred tax on actuarial gains or losses | 23,947 | -20,002 | 27 | 26,257 | -17,848 | ||
| Change in revaluation surplus of financial assets measured at fair value through equity | 8,228,343 | -11,619,416 | 18 | 8,419,219 | -11,773,348 | ||
| Deferred tax on revaluation of financial assets measured at fair value through equity | -2,299,931 | 2,207,689 | 27 | -2,209,850 | 2,236,936 | ||
| Items that will not be reclassified subsequently to profit or loss | 5,671,599 | -9,256,752 | 5,904,541 | -9,422,123 | |||
| b) Shares of other comprehensive income of associated companies and joint ventures, which is accounted for using the equity method: | |||||||
| Actuarial gains or losses on post-employment benefits of associates | 0 | 0 | -9,889 |
| Luka Koper, d. d. | Luka Koper Group | Note | 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Property, plant and equipment | 452,753,184 | 446,106,451 | 12 | 465,724,409 | 457,645,315 | ||
| Investment property | 15,386,143 | 23,467,367 | 13 | 15,088,082 | 15,324,069 | ||
| Intangible assets | 759,814 | 870,086 | 14 | 841,090 | 942,603 | ||
| Other assets | 535,707 | 216,640 | 15 | 535,707 | 216,640 | ||
| Shares and interests in Group companies | 16 |
-9,889
60,121,621
64,009,474
62,340,021
64,737,676
60,121,621
64,009,474
62,288,301
64,690,020
0
0
51,720
| Shares and interests in associates | 17 | 6,737,709 | 6,737,709 | 16,898,490 | 16,361,004 |
|---|---|---|---|---|---|
| Other non-current investments | 18 | 57,463,248 | 45,758,319 | 59,949,023 | 48,989,127 |
| Deposits and loans given | 0 | 0 | 0 | 5,557 | |
| Non-current operating receivables | 39,991 | 39,991 | 39,991 | 39,991 | |
| Deferred tax assets | 28 | 0 | 5,120,112 | 0 | 5,104,155 |
| Non-current assets | 547,462,784 | 532,364,738 | 559,076,792 | 544,628,461 | |
| Inventories | 19 | 2,091,082 | 1,596,208 | 2,091,082 | 1,596,208 |
| Current investments | 20 | 69,474,594 | 1,717 | 69,474,594 | 1,717 |
| Trade and other receivables and assets | 21 | 59,393,154 | 59,622,532 | 60,363,391 | 60,178,626 |
| Assets from contracts with customers | 253,653 | 0 | 253,653 | 0 | |
| Income tax assets | 1,481,015 | 0 | 1,338,063 | 0 | |
| Cash and cash equivalents |
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Current assets | 53,282,798 | 69,095,661 | 81,628,977 | 94,749,216 |
| TOTAL ASSETS | 733,439,080 | 662,680,856 | 774,226,552 | 701,154,228 |
| Share capital | 58,420,965 | 58,420,965 | 58,420,965 | 58,420,965 |
|---|---|---|---|---|
| Share premium | 89,562,703 | 89,562,703 | 89,562,703 | 89,562,703 |
| Revenue reserves | 288,765,823 | 261,540,812 | 288,765,823 | 261,540,812 |
| Reserves arising from valuation at fair value | 24,719,356 | 20,471,436 | 24,501,725 | 20,670,418 |
| Retained earnings | 43,878,553 | 50,229,864 | 81,464,730 | 85,232,746 |
| Equity attributable to owners of the controlling company | 505,347,400 | 480,225,780 | 542,715,946 | 515,427,644 |
| Non-controlling interests | 0 | 0 | 337,002 | 304,525 |
| Total equity | 505,347,400 | 480,225,780 | 543,052,948 | 515,732,169 |
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| 22,838,101 | 20,348,498 | 23,612,486 | 21,037,710 | |
| Deferred income |
| Non-current loans and borrowings | 26 | 93,979,370 | 54,315,463 | ||
|---|---|---|---|---|---|
| Other non-current financial liabilities | 529,437 | 741,361 | 473,032 | 698,507 | |
| Non-current operating liabilities | 98,146 | 1,105,802 | 82,544 | 1,145,239 | |
| Deferred tax liabilities | 27 | 2,608,710 | 0 | 2,560,607 | 0 |
| Non-current liabilities | 154,012,244 | 107,788,799 | 155,667,161 | 109,603,310 | |
| Current loans and borrowings | 28 | 15,193,235 | 8,336,093 | ||
| Other current financial liabilities | 431,961 | 408,276 | 372,914 | 330,026 | |
| Income tax liabilities | 0 | 9,842,953 | 0 | 9,866,267 | |
| Trade and other payables | 29 | 58,454,240 | 56,078,955 | 59,940,294 | 57,286,363 |
| Current liabilities | 74,079,436 | 74,666,277 | 75,506,443 | 75,818,749 | |
| TOTAL EQUITY AND LIABILITIES | 733,439,080 | 662,680,856 | 774,226,552 | 701,154,228 |
(in EUR)
| Luka Koper, d. d. | Luka Koper Group | |||
| 2023 | 2022 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net profit for the period | 54,450,022 | 73,266,227 | 56,445,369 | 74,159,799 |
| Adjustments for: | ||||
| Depreciation | 32,263,102 | 30,799,846 | 32,819,539 | 31,487,994 |
| Reversal and impairment losses on property, plant and equipment, and intangible assets | 462,566 | 239,986 | 600,616 | 240,144 |
| Gain on sale of property, plant and equipment, and investment property | -164,108 | -675,055 | -198,956 | -821,416 |
| Allowances for receivables | 113,463 | 370,406 | 124,571 | 379,672 |
| Collected impaired receivables and written-off liabilities | -610,462 | -395,150 | -622,616 | -409,644 |
| Reversal of provisions | -1,657,785 | -2,975 | -1,657,785 | -2,975 |
| Finance income | -7,572,819 | -6,349,703 | -6,391,292 | -3,867,468 |
| Finance expenses | 1,683,570 | 1,244,790 | 1,709,016 | 764,667 |
| Recognised result of subsidiaries under equity method | 0 | 0 | -1,780,357 | -1,734,285 |
| 10,672,466 | 13,568,209 | 10,929,687 | 13,725,541 |
|---|---|---|---|
| 89,640,015 | 112,066,581 | 91,977,792 | 113,922,029 |
|---|---|---|---|
| -319,067 | 9,433,547 | -319,067 | 9,433,547 |
|---|---|---|---|
| 1,083,820 | -12,852,528 | 684,140 | -13,146,786 |
|---|---|---|---|
| -494,874 | -150,837 | -494,874 | -150,837 |
|---|---|---|---|
| 0 | 0 | 0 | 340,807 |
|---|---|---|---|
| 0 | 0 | 0 | 40,984 |
|---|---|---|---|
| 4,641,703 | 12,636,012 | 4,798,990 | 12,880,018 |
|---|---|---|---|
| 3,938,494 | 1,438,552 | 3,978,697 | 1,486,178 |
|---|---|---|---|
| 2,680,805 | 2,399,034 | 2,552,731 | 2,269,015 |
|---|---|---|---|
| 101,170,896 | 124,970,361 | 103,178,409 | 127,074,955 |
|---|---|---|---|
| -1,687,057 | -485,214 | -1,712,503 | -490,091 |
|---|---|---|---|
| -16,543,596 | -6,665,206 | -16,652,848 | -6,735,756 |
|---|---|---|---|
| 82,940,243 | 117,819,941 | 84,813,058 | 119,849,108 |
|---|---|---|---|
| Interest received | 1,801,194 | 175,991 | 2,222,069 | 191,362 |
|---|---|---|---|---|
| Dividends received and profit sharing – subsidiaries | 462,701 | 202,983 | 0 | 0 |
| Dividends received and profit sharing – associates | 691,982 | 1,158,075 | 691,982 | 1,158,075 |
| Dividends received and profit sharing – other companies | 2,932,828 | 2,524,888 | 2,989,366 | 2,580,434 |
| Proceeds from sale of property, plant and equipment, and intangible assets | 684,918 | 1,813,165 | 707,525 | 1,959,445 |
| Proceeds from sale of investment property | 19,587 | 2,886 | 31,824 | 2,886 |
| Proceeds from sale, decrease in investments and loans and deposits given | 116,817,787 | 1,619 | 122,753,697 | 1,619 |
| Acquisition of property, plant and equipment, and intangible assets | -44,533,865 | -46,043,710 | -44,751,576 | -46,701,498 |
| Acquisition of investments, and increase in loans and deposits given | -188,704,100 | 0 | -193,704,100 | 0 |
| -109,826,968 | -40,164,103 | -109,059,214 | -40,807,677 |
|---|---|---|---|
| Proceeds from non-current borrowings | 60,000,000 | 36,100,000 | 60,000,000 | 36,100,000 |
|---|---|---|---|---|
| -5,142,857 | -12,250,000 | -5,142,857 | -12,250,000 |
|---|---|---|---|
| -8,336,093 | -32,408,143 | -8,336,093 | -32,408,143 |
|---|---|---|---|
| -447,188 | -384,460 | -395,133 | -412,757 |
|---|---|---|---|
| -35,000,000 | -15,960,000 | -35,000,000 | -15,960,000 |
|---|---|---|---|
| 11,073,862 | -24,902,603 | 11,125,917 | -24,930,900 |
|---|---|---|---|
| -15,812,863 | 52,753,235 | -13,120,239 | 54,110,531 |
|---|---|---|---|
| 69,095,661 | 16,342,426 | 94,749,216 | 40,638,685 |
|---|---|---|---|
| 53,282,798 | 69,095,661 | 81,628,977 | 94,749,216 |
|---|---|---|---|
| Reserves arising from valuation at fair value | Total equity | Share capital | Share premium | Legal reserves | Other revenue reserves | Retained earnings | Investments | Actuarial gains and losses |
|---|---|---|---|---|---|---|---|---|
| Balance at 31 December 2021 | 58,420,965 |
| 89,562,703 | 18,765,115 | 206,142,584 | 29,592,319 | 31,260,558 | -1,567,938 | 386,889,959 | |
|---|---|---|---|---|---|---|---|
| Dividends paid | 0 | 0 | 0 | 0 | -15,960,000 | 0 | -15,960,000 |
| Changes in equity – transactions with owners | 0 | 0 | 0 | 0 | -15,960,000 | 0 | -15,960,000 |
| Net profit or loss for the period | 0 | 0 | 0 | 0 | 73,266,227 | 0 | 73,266,227 |
| Change in revaluation surplus of financial assets, less tax | 0 | 0 | 0 | 0 | 0 | -9,411,727 | -9,411,727 |
| Change in actuarial gains/losses, less tax | 0 | 0 | 0 | 0 | 0 | 154,974 | 154,974 |
| Total comprehensive income for the period | 0 | 0 | 0 | 0 | 73,266,227 | -9,411,727 | 64,009,474 |
| Allocation of proportion of net profit for the period to other equity components pursuant to resolution of the Management and Supervisory Board | 0 | 0 |
| Balance at 31 December 2022 | 58,420,965 | 89,562,703 | 18,765,115 | 242,775,697 | 50,229,864 | 21,848,831 | -1,377,395 | 480,225,780 |
|---|---|---|---|---|---|---|---|---|
| Dividends paid | 0 | 0 | 0 | 0 | -35,000,000 | 0 | 0 | -35,000,000 |
| Changes in equity – transactions with owners | 0 | 0 | 0 | 0 | -35,000,000 | 0 | 0 | -35,000,000 |
| Net profit or loss for the period | 0 | 0 | 0 | 0 | 54,450,022 | 0 | 0 | 54,450,022 |
| Change in revaluation surplus of financial assets, less tax | 0 | 0 | 0 | 0 | 0 |
| 5,928,412 | 0 | 5,928,412 | ||||||
|---|---|---|---|---|---|---|---|---|
| Change in actuarial gains/losses, less tax | 0 | 0 | 0 | 0 | 0 | -256,813 | -256,813 | |
| Total comprehensive income for the period | 0 | 0 | 0 | 54,450,022 | 5,928,412 | -256,813 | 60,121,621 | |
| Allocation of proportion of net profit for the period to other equity components pursuant to resolution of the Management and Supervisory Board | 0 | 0 | 0 | 27,225,011 | -27,225,011 | 0 | 0 | 0 |
| Other movements within equity | 0 | 0 | 0 | 1,423,678 | -1,452,366 | 28,688 | 0 | |
| Movements within equity | 0 | 0 | 0 | 27,225,011 | -25,801,333 | -1,452,366 | 28,688 | 0 |
| Balance at 31 December 2023 | 58,420,965 | 89,562,703 | 18,765,115 | 270,000,708 | 43,878,553 | 26,324,877 | -1,605,520 | 505,347,400 |
| Reserves arising from valuation at fair value | Total equity attributable to owners of controlling shares | Total equity | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Share capital | Share premium | Legal reserves | Other revenue reserves | Retained earnings | Investments | Actuarial gains and losses | Equity of non-controlling interests | |||
| Balance at 31 December 2021 | 58,420,965 | 89,562,703 | 18,765,115 | 206,142,584 | 63,769,456 | 31,769,273 | -1,732,471 | 466,697,625 | 267,705 | 466,965,330 |
| Dividends paid | 0 | 0 | 0 | 0 | -15,960,000 | 0 | -15,960,000 | -10,835 | -15,970,835 | |
| Changes in equity – transactions with owners | 0 | 0 | 0 | 0 | -15,960,000 | 0 | -15,960,000 | -10,835 | -15,970,835 | |
| Net profit or loss for the period | 0 | 0 | 0 | 0 | 74,112,143 |
| Change in revaluation surplus of financial assets, less tax | 0 | 0 | 0 | 0 | 0 | -9,536,412 | 0 | -9,536,412 | 0 | -9,536,412 |
|---|---|---|---|---|---|---|---|---|---|---|
| Change in actuarial gains/losses, less tax | 0 | 0 | 0 | 0 | 0 | 0 | 114,289 | 114,289 | 0 | 114,289 |
| Total comprehensive income for the period | 0 | 0 | 0 | 0 | 74,112,143 | -9,536,412 | 114,289 | 64,690,020 | 47,656 | 64,737,676 |
| Allocation of residual net profit for comparable period to other equity components | 0 | 0 | 0 | 36,633,113 | -36,633,113 | 0 | 0 | 0 | 0 | 0 |
| Other movements within equity | 0 | 0 | 0 | 0 | -55,739 | 0 | 55,739 | 0 | 0 | 0 |
| Movements within equity | 0 | 0 | 0 |
| Balance at 31 December 2022 | 36,633,113 | -36,688,852 | 0 | 55,739 | 0 | 0 | 0 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| 58,420,965 | 89,562,703 | 18,765,115 | 242,775,697 | 85,232,747 | 22,232,861 | -1,562,443 | 515,427,644 | 304,525 | 515,732,169 | |
| Dividends paid | 0 | 0 | 0 | 0 | -35,000,000 | 0 | -35,000,000 | -19,243 | -35,019,243 | |
| Changes in equity – transactions with owners | 0 | 0 | 0 | 0 | -35,000,000 | 0 | -35,000,000 | -19,243 | -35,019,243 | |
| Net profit or loss for the period | 0 | 0 | 0 | 0 | 56,393,649 | 0 | 56,393,649 | 51,720 | 56,445,369 | |
| Change in revaluation surplus of financial assets, less tax | 0 | 0 | 0 | 0 | 0 | 6,209,369 | 6,209,369 | 0 | 6,209,369 | |
| Change in actuarial gains/losses, less tax | 0 | 0 |
| -304,828 | -304,828 | 0 | -304,828 |
|---|---|---|---|
| 0 | 0 | 0 | 0 | 56,393,649 | 6,209,369 | -314,717 | 62,288,301 | 51,720 | 62,340,021 |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 27,225,011 | -27,225,011 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 2,063,345 | -2,117,354 | 54,009 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 27,225,011 | -25,161,666 | -2,117,354 | 54,009 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|
58,420,96589,562,70318,765,115270,000,70881,464,73026,324,876-1,823,151542,715,946337,002543,052,948
Luka Koper, pristaniški in logistični sistem, delniška družba (hereinafter: Company), Vojkovo nabrežje 38, Koper, Slovenia, is the controlling company of the Luka Koper Group (hereinafter: Group), established in Slovenia. Separate financial statements of Luka Koper, d. d., and consolidated financial statements of the Luka Koper Group for the year ended 31 December 2023 are presented below. Consolidated financial statements include statements of the controlling company and statements of subsidiaries as well as the related profit or loss of associated companies.
The port’s core business is cargo handling and warehousing of all types of goods, which the Group supplements with diverse goods-related services and other services to secure an overall logistics support. Given the Concession Agreement, the controlling company, Luka Koper, d. d. maintains the port infrastructure and provides for the port’s development.
Adria Investicije, d. o. o., and Logis-Nova, d. o. o., were not included in the consolidated financial statements due to being insignificant for a fair presentation of the Group’s financial position. They operate in a limited scope and without employees. In their books, they only disclose property, and the balance sheet total of both was EUR 870,996 at 31 December 2023. Net sales for the business year amounted to EUR 84,559 (Adria Investicije, d. o. o.: EUR 61,139, and Logis-Nova, d. o. o.: EUR 23,450). Both companies recorded profits at the end of the year. If operations of the two companies should change considerably, they would be included in the Group's consolidated statements.
As at 31 December 2023, the controlling company Luka Koper, d. d. transferred its investment in Adria Investicije, d.o.o. to the new sole shareholder, Adria Terminali, d. o. o., as a subsequent payment recorded in the company's capital reserves.
The financial statements of Luka Koper, d. d., and consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the International Accounting Standards Board (IASB), and interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) as adopted by the European Union, and in accordance with provisions of the Slovenian Companies Act.
The financial statements of the Company and the Group are prepared on the going concern basis since the Company/Group has operated profitably in the past and has immediate access to liquid assets.
The statements have been prepared on the historical cost basis, except for finance investments, which were measured at fair value. Methods applied for fair value measurement are clarified in the Note 32 ‘Financial instruments and financial risk management’.
The financial statements are presented in EUR (exclusive of cents), which is the functional currency of the Company/Group. Slight inaccuracies may appear due to rounding.
Preparation of financial statements in conformity with IFRSs requires the management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Estimates are formed based on past experience and expectations in the accounting period. Formation of estimates and the related assumptions and uncertainties are disclosed in the notes to individual items.
Estimates, judgements and assumptions are reviewed on a regular basis. Actual results may differ from these estimates, which are therefore reviewed and relevant adjustments formed on an ongoing basis. Changes in accounting estimates are recognised in the period for which the estimates are modified, or in the coming periods that are impacted by respective changes.
On the issue of climate change, the Company/Group is of the opinion that climate change does not represent a significant element in the estimates, judgement or valuation of accounting items. Similarly, there have been no relevant legislative changes that could affect the use of the Company/Group's estimates and judgements.
When determining the useful life of assets, the Company/Group takes into account the expected physical wear and tear and technical and economic aging (significant technological changes, market changes, obsolescence, number of operating hours or physical condition of individual assets). It is for this reason that the Company/Group regularly reviews the useful lives of its major assets internally and, every 5 years, with the assistance of an external certified valuer of property, plant and equipment. If there were significantly changed circumstances, the company/Group would change the useful life and, consequently, the depreciation rate.
Existence of possible indication of impairment for property, plant and equipment is assessed by the Company/Group based on IAS 36. As at each reporting date, the Company/Group assesses whether there is any indication (external: significant technological change, market change, significant decrease in market value, expected regulatory restrictions on use; or internal: obsolescence, physical condition of an asset, changes in the scale of operations, lower than expected economic performance...) that the asset may be impaired. If such indication exists, the Company/Group is required to evaluate the recoverable value of the asset. If its recoverable value has changed by more than 20 per cent in a year, it shall be presumed to have changed materially in use. The Company/Group recognises the amount of the impairment loss as an expense (impairment charges, write-downs and losses on sales of property, plant and equipment and investment property) in the profit or loss.
The Company/Group performs a test to assess the impairment of its investments in accordance with IAS 36 - Impairment of Assets.
The amount of the impairment loss is measured as the difference between the carrying amount of the financial asset and the present value of expected future cash flows based on long-term financial plans approved by management, discounted at current market rates of return for similar financial assets calculated at the date of the assessment. The Company/Group recognises the amount of the impairment loss as an expense (impairment charges, write-downs and losses on sales of property, plant and equipment and investment property) in the profit or loss.
For significant investments that show signs of impairment, a formal valuation may be obtained. In the case of a formal valuation of an investment, the valuation is the basis for recognising the amount of the impairment loss.
The Company/Group classifies property, the major part of which is leased out on an operating basis, as investment property. In cases where part of the property is leased out on an operating basis and the greater part is used for the performance of the company's activities, the property is allocated entirely to property, plant and equipment. The Company/Group regularly reviews whether reclassification to or from investment property is necessary, in particular when the purpose of use changes (e.g. commencement of owner use, commencement of an operating lease, end of investment use, etc.).
Upon identification of the lease agreement, the company/Group performs an analysis, determines the duration of the lease, and assesses the value of the rights to use assets and lease liability. Estimations of rights to use assets and lease liability are made by discounting the future cash flows for the period of lease. Cash flows are discounted based on a pondered interest rate realised by the Company/Group when raising non-current loans. Depreciation resulting from the rights to use assets is calculated based on the remaining lease term.
The Company/Group has elected to apply exemptions for leases with a lease term of 12 months or less, and for leases where the underlying asset has a low value.
A provision is recognised if the Company/Group has legal or indirect obligations arising from a past event that can be reliably assessed, and if it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Contingent obligations are not recognised in the financial statements, as their exact amount could not be established or their actual existence will be confirmed only upon the occurrence or non-occurrence of events in the unforeseeable future, which the Company/Group cannot influence.
The Company/Group Management regularly checks whether the settlement of a contingent obligation will likely require an outflow of resources embodying economic benefits. If it becomes probable that an outflow of future economic benefits will be required, provisions for legal disputes are formed in the financial statements.
The Company/Group discloses its revenue in accordance with IFRS 15. The core principle of the framework is that an entity will recognise revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.
For the purpose of revenue recognition, each company applies the stage of completion method as at the date of statement of financial position, i.e., for cargo handling by volume and working hours performed, for warehousing and logistics by days and volume, for maintenance upon construction situations and by hours performed, for laboratory services by hours performed.
Operating income is recognised by each company when it can be reasonably expected that it will result in cash receipts, unless such receipts were already realised when revenue was generated, and their amount can be reliably measured.
Based on the estimate that sufficient profit will be available in the future, the Company/Group created deferred tax assets provided under following:
Deferred tax assets recognised under the formation of provisions for jubilee premiums and retirement benefits are reduced by relevant amounts of provisions utilised according to the FIFO method, because from 2022 inclusive, provisions from jubilee premiums and retirement benefits are fully recognized for tax purposes.
Given that the impairment losses on investments and receivables are not recognised as tax expenditure upon formation, the Company/Group formed deferred tax assets in the relevant amounts. Deferred tax assets will be capitalised upon the sale or disposal of the investment or financial instrument and upon the final write-off of receivables.
The tax rate used to calculate the amount of deductible temporary differences is 22 percent, and 19 percent for deferred tax assets for jubilee bonuses and termination benefits. Based on the adopted Act on Reconstruction, Development and Provision of Financial Resources (ZORZFS), the Company/Group has adjusted the tax rate to 22 percent for those deductible temporary differences that it believes it may be able to utilise in the period from 2024 to 2028, i.e., during the period of the increased corporate income tax rate.
Obligations for defined post-employment and other benefits record the present value of retirement benefits and jubilee premiums. They are recognised on the basis of an actuarial calculation approved by the Management. The actuarial calculation is based on assumptions and assessments valid during the calculation, which may differ in the future from the actual assumptions in force at the time as a result of changes. This pertains particularly to the determination of the discount rate, the assessment of the fluctuation of employees, the assessment of the death rate and the assessment of salary growth. Due to the complexity of the actuarial calculation and the long-term nature of the item, obligations for defined benefits are sensitive to changes in the mentioned assessments.
The accounting policies detailed below were consistently applied in all the periods presented in the financial statements. The Luka Koper Group companies apply uniform accounting policies that have been changed and adjusted to Group’s policies where necessary.
Transactions in foreign currency are translated into Euro at the reference exchange rate of the European Central Bank prevailing at the transaction date. Monetary assets and liabilities expressed in foreign currency as at the date of the statement of financial position are translated at the reference exchange rate of the ECB at the final day of the accounting year. All differences resulting from foreign currency translation are recognised in the income statement.
The Company/Group shall recognise an item of property, plant and equipment if, and only if:
They are used by the Company/Group in the provision of services, leased to others or used for office purposes, and are expected to be used for more than one year.
When the Company/Group acquires an asset of significant value, it allocates the amount initially recognised to its significant parts. The objective of dividing an asset into parts is reflected in the related economic benefit (facilities, storage and handling areas and handling equipment).
Spare parts and maintenance equipment are usually treated as stock and recognised in profit or loss as consumed. The Company/Group recognises major spare parts and replacement equipment as tangible assets if they are expected to be used in more than one accounting period. If spare parts and maintenance equipment can be used only in connection with a particular item of tangible fixed assets, they are accounted for as tangible assets.
Property, plant and equipment are measured at cost. Under the cost model, an item of property, plant and equipment is carried at its cost less accumulated depreciation and accumulated impairment losses. The cost of an item of property, plant and equipment is equal to the monetary price on the date of the asset’s recognition. Land is accounted for separately and is not subject to depreciation.
Pursuant to IAS 23, the purchase cost of property, plant and equipment can also include borrowing costs if they can be directly associated to the purchase, construction or production of an asset in the course of construction. If the Company or Group agrees on a general borrowing which cannot be directly associated with the purchase of an asset in the course of construction, it will capitalise a proportionate share of costs calculated using the weighted annual interest rate, but solely for major investments (value and construction period exceeding EUR 1 million and 12 months, respectively). Investments with durations of several years that witnessed no inputs in the reporting period (halted investments) are excluded from the method of capitalising interest.
Borrowing costs are capitalised until the asset is in the course of construction. When the asset is transferred to use, borrowing costs are no longer capitalised. The amount of borrowing costs capitalised in the period must not exceed borrowing costs, which arise in the same period.
The Company/Group also includes in the cost of property, plant and equipment the cost of the workforce directly related to the making of the investment when the investment is significant (for the controlling company, if the value of the investment exceeds EUR 1 million and the construction period exceeds 12 months, or for subsidiaries and associates, if the value of the investment exceeds 3 percent of the total tangible fixed assets and the construction period exceeds 12 months).
Labour costs are capitalised while the asset is in preparation. When the asset is transferred to use, labour costs are no longer capitalised.
Parts of certain items of property, plant and equipment may require replacement at regular intervals. An asset can also be obtained for occasional replacements, such as replacing partitions in a building, or for one-off replacements. The carrying amount of the parts that are replaced is no longer recognized.
Replacements of items of property, plant and equipment and major overhauls are accounted for as investments and are depreciated over their estimated useful lives, which are expected to be longer than one accounting period and in most cases differ from the useful life of the main asset.
entry into service. However, replacement parts used in a single asset are depreciated over the useful life of that asset.
With each replacement of a part of an asset or before a major overhaul, the Company/Group separately shows the new purchase value of a part of the property, plant or equipment and derecognizes any remaining carrying amount of the replaced part. The cost of the asset is reduced, and proportionately the valuation allowance accrued to date, with the difference recognised as an expense in impairment, write-downs and losses on sales of property, plant and equipment and investment property.
In each period, depreciation charge is recognised in the income statement.
An asset is subject to depreciation on the day when it is made available for use.
The items of property, plant and equipment are depreciated under the straight-line method of depreciation, considering the assessed economic life of an individual asset. When acquiring assets that are divided into parts, the initially recognised amount is distributed among its more important parts and each part is depreciated separately. Replacement parts of greater value are treated as devices or equipment, which are depreciated irrespective of their entry into service. However, replacement parts used in a single asset are depreciated over the useful life of that asset. The objective of dividing an asset into parts is reflected in the economic benefits.
The depreciation method used is reassessed at the end of each financial year.
Land, assets in acquisition, non-current assets classified to disposal groups (held for sale) and works of art are not depreciated.
| Assets | 2023 | 2022 |
|---|---|---|
| Construction works | 16.67−66.67 years | 16.67−66.67 years |
| Transport and transhipment equipment | 5–25 years | 5–25 years |
| - locomotives | 6.67−15 years | 6.67−15 years |
| - forklifts, shippers | 8–12 years | 8–12 years |
| Computer hardware | 4–5 years | 4–5 years |
| Other equipment | 4–12 years | 4–12 years |
The carrying amount of an individual item of property, plant and equipment is derecognised upon its disposal or when no future economic benefits are expected from the asset’s use or disposal. Any profits or losses resulting from disposal of individual item of property, plant and equipment are determined as the differences between the revenue from disposal and the carrying amount and are included in profit or loss.
The Company/Group discloses leases under the rights to use assets in compliance with the new IFRS 16 standard. The scope of application of IFRS 16 comprises leases of all assets with a few exceptions. Pursuant to the Standard, lessees should recognise all leases through the statement of financial position under a single lessee accounting model without making a distinction between an operating or a finance lease. The Standard allows two exemptions in recognising assets, i.e., when the underlying asset is of low value (such as personal computers) and for short-term leases (leases with a term of less than 12 months). As at the date of the beginning of lease, the lessee is required to recognise the obligation to make lease payments (i.e. a lease liability) and the asset representing the right to use the underlying leased asset for the duration of the lease (i.e. a right-of-use asset).
Initially, intangible assets are recognised at cost. After initial recognition, they are recognised at their cost reduced by accumulated amortisation and accumulated impairment losses.
Depreciation begins when an asset is ready for its use, i.e. when the asset is on the location and in the condition necessary for it to operate as intended.
The carrying amount of an item of intangible assets with final useful life is reduced using the straight-line amortisation method over the period of its useful life. All intangible assets have finite useful lives.
The depreciation period and depreciation method for an intangible asset with finite useful life are reviewed at least at each financial year-end. If the asset's expected useful life differs significantly from previous estimates, the depreciation period is adjusted accordingly.
The useful life of an item of intangible assets that arises from contractual or other legal rights does not exceed the period of these contractual rights or legal rights, however, it may be shorter, depending on the period during which the asset is expected to be used. The assessed useful life of other items of intangible assets is 10 years (the applied useful lives are presented in the table below).
| Year | Non-current property rights | Development costs |
|---|---|---|
| 2023 | 3–10 years | 10 years |
| 2022 | 3–10 years | 10 years |
Investments in subsidiaries, associates and other companies are measured at cost. The Group only discloses investments in associated companies, which are recognised using the equity method. On each date of the statement of financial position, the Company/Group assesses whether there is any indication of impairment. Any impairment loss on investment is recognised in the income statement.
Financial instruments are classified into the following categories:
The Company classifies quoted shares as financial assets measured at fair value through other comprehensive income. Upon initial recognition, financial assets are measured at fair value, with the exception of trade receivables that do not have a significant financing component (as determined in accordance with IFRS 15) and are measured at transaction price (as defined in IFRS 15). In the case of a financial asset measured at fair value through profit or loss, the Company/Group adds or deducts transaction costs directly attributable to the acquisition or issuance of the financial asset. Fair value is considered market value based on the closing price of a security on a stock exchange. Fair value changes are recognised by the Company/Group in other comprehensive income within equity. Upon derecognition, the Company/Group recognises gains or losses through retained earnings. Additions and disposals are recognised as at the trading date.
Investments in other shares and securities, with regard to which there is no active market, and investments in mutual funds for which the daily value of the unit of the mutual fund is published, are classified by the Company/Group as assets measured at fair value through profit or loss.
Loans, deposits, treasury bills and receivables are recognised by the Company/Group as at the settlement date and measured at amortised cost. Interest income, impairment gains or losses and foreign exchange gains or losses are recognised in profit or loss. Derecognition is also recorded in profit or loss.
In books of account, the Company/Group carries non-current and current receivables separately. Default interest arising on stated receivables is recorded among off-balance sheet items. Upon recognition, non-current and current trade receivables are disclosed at contractually agreed amounts or as recorded in the relevant accounting documents. Receivables where recovery procedures have been initiated or where debtors are in one of the insolvency procedures are transferred by the Company/Group to bad and doubtful receivables. Other operating receivables and other assets include short-term deferred costs or expenses and accrued income.
The Company/Group forms revaluation allowances for all past due trade receivables and based on age structure and individual assessment. Allowances for receivables due from companies in a bankruptcy or liquidation procedure are formed immediately once such proceeding begins, in their full amount (100 percent). In accordance with the IFRS 9 which introduced new requirements for the measurement of financial assets and recognition of their impairment, the Company/Group has formed an impairment model for trade receivables based not only on realised credit losses, but also on expected credit losses. The Company/Group also forms allowances for receivables resulting from non-maturity receivables on the basis of risk assessment. Assessment of risk is composed of the customer’s credit rating which is formed by the Company/Group based on own criteria, and also results from the customer’s country of origin. The Company/Group shall review the buyer risk assessment criteria on an annual basis and no later than before the end of the financial year. Claims for which it is not possible or rational to obtain a risk assessment are classified as medium risk. Impairment losses are charged to other operating expenses associated with receivables.
Cash and cash equivalents include cash (cash in hand), book money (cash balances in accounts with banks or other financial institutions), cash in transit (money transferred from cash in hand to an account with a bank) and cash equivalents, which include short-term deposits and deposits with banks with a maturity of three months or less after acquisition.
The key factors in determining whether an investment is a cash equivalent under IAS 7 are maturity and purpose. The purpose of cash equivalents is to settle short-term cash liabilities, not to establish investments or increase financial income. To qualify as a cash equivalent, an investment must be readily convertible into a known amount of cash and the risk of changes in its value must be insignificant.
The Company/Group reports cash in foreign currencies separately in bank accounts. Foreign currency cash balances are converted into the domestic currency at the European Central Bank's reference rate on the reporting date.
Inventories are measured by the Company/Group at cost or net market value, whichever is lower. An item of the materials inventory is measured at cost, which comprises the purchase price, import duties and other non-refundable purchase taxes, and direct costs of purchase. Non-refundable purchase taxes also include non-refundable VAT. The purchase price is reduced by trade discounts. The Company/Group applies the weighted average price method for reducing the materials inventory. Small tools put in use are immediately transferred among costs. Inventories are not subject to revaluation due to increases.
The share capital of the Company/Group in the amount of EUR 58,420,965 consists of 14,000,000 ordinary no-par value shares that are freely transferable. As at 31 December 2023, the nominal value of a share was EUR 4.17.
The Company/Group records legal reserves in the amount of at least 10% of share capital as required by the Companies Act (ZGD-1). Legal reserves and share premium are not included in the accumulated profit and are not subject to distribution. The Company/Group has no statutory reserves, as they are not envisaged under its articles of association.
Reserves arising on valuation at fair value comprise reserves arising from valuation of investments measured at fair value and with respect to unrealised actuarial gains and losses.
Retained earnings consist of all accumulated undistributed net profits of previous years and the unappropriated portion of the net profit for the period.
Dividends are recognised in the controlling company’s financial statements once the decision on the distribution of dividends is adopted by the general meeting.
At 31 December 2023, the Company/Group had no authorised capital.
The Company/Group forms provisions for disputes and damages related to alleged business offences. Provisions are formed and their amount determined in consideration of the following criteria:
In accordance with statutory requirements and the collective agreement, the Company/Group is obligated to pay jubilee premiums and termination benefits on retirement. To measure these payments, the Company/Group applies valuation of actuarial liability on the basis of expected salary growth from the valuation date until the employee’s anticipated retirement. This means that benefits are accrued in proportion to the work performed. The assessed liability is recognised as the present value of expected future expenditure. Anticipated salary growth and employee turnover are also considered as part of measurement.
Actuarial gains or losses for termination benefits in the current year are recognised in other comprehensive income under equity based on an actuarial calculation, whereas current employee benefits and interest expenditure are recognised in profit or loss. Current employee benefit costs and interest expenditure as well as actuarial gains or losses are recognised in profit or loss for jubilee premiums.
The calculation of provisions for retirement benefits and jubilee premiums is based on the actuarial calculation as at 31 December 2023, which took into account the following assumptions:
quality corporate bonds (AA rating) as at 29 December 2023 denominated in EUR, and by interpolation with respect to the average weighted duration of the Company/Group’s commitments (according to the calculated amount of pre-discount commitments) from the balance sheet date to payments by individual type of earnings (13.9 - 14.0 years).
The controlling company forms non-current deferred income for the cost of the public utility service of routine maintenance of the port public infrastructure in an amount equal to the excess of port dues revenue over the cost of the public utility service. In the event of costs exceeding revenues from port dues, non-current deferred income is derecognised in the amount of the surplus.
In the subsidiary Luka Koper INPO, d. o. o., non-current accrued liabilities include donations received and social security contributions assigned, which are subject to earmarked spending, namely for investments in fixed assets and to cover costs related to the employment of disabled people. Non-current accrued liabilities are transferred to revenue to the extent of the identified specifically used costs or expenses.
All kinds of government grants are initially recognised in the statement of financial position as deferred income when there is assurance that the Company/Group will receive such grants and meet the related terms. Government grants to cover costs are consistently recognised in profit or loss in the periods when the relevant costs that these revenues are supposed to cover are incurred.
In compliance with the Maritime Code, Luka Koper, d. d. and the Government of the Republic of Slovenia regulated their relations in the port of Koper in September 2008 by entering into a Concession Agreement within the Decree on the Administration of the Freight Port of Koper, Port Operations, and on Granting the Concession for the Administration, Management, Development and Regular Maintenance of its Infrastructure, and defined the concession relationship for the period of 35 years from the date of concluding the Agreement.
Pursuant to provisions of the Concession Agreement and the Transparency of Financial Relations and Maintenance of Separate Accounts for Different Activities Act (ZPFOLERD-1), the concession operator is required to keep their books of account in a way that provides for separate financial monitoring of the activity, which is carried out on the basis of exclusive rights granted.
In its books of account, Luka Koper, d. d. keeps separate records of income from port tax in an individual year and of costs of performing concessions activities. Any income surplus generated through port duties over maintenance costs relating to port infrastructure, is kept by the concession provider as short-term deferred income for costs of maintaining the port infrastructure in the coming years as required by Article 9.3. of the Concession Agreement.
Financial monitoring of the public service is based on policies and principles of cost accounting and criteria of separate bookkeeping.
In accordance with the Concession Agreement concluded with the Republic of Slovenia and the criteria approved by the latter, Luka Koper, d. d. forms non-current deferred income for routine maintenance of port infrastructure in the amount equal to the surplus of income from port dues over the related costs of the public service. In the event of costs exceeding revenues from port dues, non-current deferred income is derecognised in the amount of the surplus.
Luka Koper, d. d., as the concession operator, obtained from the Republic of Slovenia, as the concession provider, the exclusive right for performing port activities of cargo handling and maritime passenger transport in the port area, and the related exclusive right for port administration and management, and for the administration and development of port infrastructure not intended for public transport, and pursuant to Article 44 of the Maritime Code, also the exclusive right to perform public utility service of regular maintenance of the port infrastructure that is intended for public transport.
Furthermore, pursuant to Article 7.9.6. of the Concession Agreement, Luka Koper, d. d., keeps records on investments made in port infrastructure in each financial year. Luka Koper, d. d., is required to indicate investments in each individual year in a special appendix to the annual report, which is to be examined and approved by a certified auditor.
In accordance with Article 10.1. of the Concession Agreement, Luka Koper, d. d., pays a concession tax, which amounts to 3.5% of the annual revenue generated less port dues collected in the relevant year. The basis for levying the concession tax is the audited income statement of Luka Koper, d. d. The annual concession tax amount is paid in monthly instalments of advance payments calculated not later than by 30 July of the current year on the basis of audited data for the previous calendar year.
Port dues account for 3 percent of the controlling company’s operating income and are a constituent part thereof. The amount of port dues is defined by the controlling company Luka Koper, d. d. in agreement with the government. The remaining 97 percent of the controlling company's operating income is generated through rendering of services of cargo handling and warehousing, whose fees and prices are formed on the basis of market regularities.
The development and overhaul of the port infrastructure is carried out by the controlling company in its own capacity and for its own account. Upon the concession’s expiry, the concession operator is entitled to the refund of unamortised part of investments. Given the above-mentioned provisions of the Concession Agreement, the Group shall not apply IFRIC 12.
d. d. the funds invested in the development of port infrastructure in the amount of the audited as yet unamortised part of the value of investments in concession installations, equipment and facilities, provided that the investments were made with the prior written consent of the grantor of concession.
In accordance with the applicable concession contract, the grantor shall start the process of preparation for a new public tender for the selection of the concession holder at least two years before the expiry of this concession. In the event that Luka Koper d. d. is re-selected as the concession holder, it will be exempt from paying the part of the concession fee that is paid upon signing the new concession contract, thus terminating its right to reimbursement of the unamortised part of the investment value.
The public utility service of collecting waste from vessels in the Koper port area is being performed in line with the Decree on the method, subject and conditions for the provision of national public utility service of collecting waste from vessels (Official Gazette of the Republic of Slovenia, No. 59/2005), and the Decree on port reception facilities for ship-generated waste and cargo residues (Official Gazette of the Republic of Slovenia, No. 78/2008). These services comprise regular reception of ship-generated waste and cargo residues, installation of port facilities for reception of ship-generated waste and cargo residues in accordance with regulations governing port reception facilities, receipt of messages about intended delivery of ship-generated waste and cargo residues, separate collection, sorting and storage of accepted waste and cargo residues by using port reception facilities, delivery for processing with a view of re-use, recycling or disposal of processing residues in accordance with environmental protection regulations governing waste management, and informing the public and users about the manner of delivering waste and cargo residues. For purposes of reports within the public utility service of collecting waste from vessels, Luka Koper, d. d., based on provisions of the Transparency of Financial Relations and Maintenance of Separate Accounts for Different Activities Act has taken into account the principles of cost accounting and criteria of separate bookkeeping.
Until 31 December 2016, Luka Koper, d. d., was performing the public utility service of collecting waste from vessels through its subsidiary Luka Koper INPO, d. o. o., which acted as its performance assistant. The two companies had an agreement of cooperation between them. Luka Koper INPO, d. o. o., is fully controlled by Luka Koper, d. d., and the companies are considered to form a single economic unit based on the settled case law of the European Court of Justice. As at 1 January 2017, the companies signed an annex to the agreement stipulating, among others, that as at 1 January 2017, Luka Koper INPO, d. o. o., as the performance assistant shall perform the public utility service of collecting waste from vessels in the Koper port area in the name and for the account of Luka Koper, d. d.
On initial recognition, the Company/Group records borrowings at fair value and thereupon at amortised cost using the effective interest rate method. In terms of maturity, borrowings are classified into non-current and current financial liabilities. On the last day of the year, all financial liabilities maturing in the next year are reclassified to current financial liabilities. Borrowings are insured with bills of exchange and certain loan covenants.
Under non-current operating liabilities, the Company/Group recognises collaterals received for rented business premises and retained guarantee payments. Current trade payables and current payables to the state and employees are shown separately under current liabilities. Other Company’s/Group’s operating liabilities include short-term deferred income and short-term accrued costs or expenses.
Income tax is accounted for by the Company/Group in compliance with provisions of the Corporate Income Tax Act. The basis for the income tax calculation is the gross profit increased by the amount of non-deductible expenditure and reduced by the amount of statutory tax relief. Such basis is used for accounting the corporate income tax liability. As for 2023, income tax liability was calculated at the rate of 19 percent.
In order to disclose an appropriate profit and loss for the reporting period, the Company/Group also accounts for deferred taxes. These are disclosed as deferred tax assets and deferred tax liabilities. In accounting for deferred taxes, the balance sheet liability method is applied. The book value of assets and liabilities is compared with their tax value, and the difference between both is defined as either permanent or temporary.
Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that sufficient taxable profit will be available against which the deductible temporary differences can be utilised. They are calculated at the tax rates expected to apply in the period when the claim is recovered.
Deferred tax liabilities are recognised for all taxable temporary differences calculated at tax rates that are expected to apply in the period when the liability is settled.
The basic and diluted earnings per share were calculated by dividing the net profit for the period with the weighted average number of ordinary shares in issue.
Revenue from contracts with customers
The Company’s/Group’s core business is cargo handling and warehousing of all types of goods, goods-related services, and other related services. The respective services are all carried out in Slovenia, for both local as well as foreign customers. Foreign customers come from European markets, which are considered most significant for the Company/Group, as well as from Asia and America. The customers include the world’s largest shipping companies, major international corporations, end-users of our services, and other major and smaller domestic and foreign companies that deem the port of Koper as the provider of the fastest and highest quality logistics service.
The Company/Group discloses its operating income in accordance with IFRS 15. The Company/Group has recognised all active contracts concluded with foreign entities and judged them using the five steps required by the standard. An analysis of contracts with customers has shown that they all meet the criteria of the new standard for revenue recognition; performance obligations are defined adequately in contracts, allowing their classification and measurement, and determining when they might be satisfied. The majority of revenue results from contracts defined as simple supply of services. Since the contracts include no separate performance obligations, the Company/Group deems its valid accounting policy for recognition of revenue to be in line with requirements of IFRS 15.
The prices in the Company/Group are set at fixed or variable rates. Variable rates occur when the Company/Group offers a volume discount. Volume discounts are achieved based on agreed transhipment volumes.
In recognizing income from services rendered, the Company/Group uses the stage of completion method as at the date of the statement of financial position, as this is when the condition of transfer of control of a good/service is met. The Company/Group can do so as its performance does not create an asset with an alternative use to the company and the Company/Group has an enforceable right to payment for performance completed to date. Under the method, income is recognised in the accounting period in which the services are rendered. The Company/Group does not sell its services with maturities of more than one year, therefore it does not recognize income and expenses from financing. The amount of each significant category of revenue recognised in the accounting period is disclosed, as well as revenue generated in connection with domestic and foreign customers.
Rental income primarily comprises income from investment property, i.e. income generated from facilities and land that are leased out under operating lease. Rental income is recognised by the Company/Group within operating income.
Other operating income comprises operating income from the sale of property, plant and equipment, subsidies, donations, insurance proceeds and other income. Government grants and other subsidies primarily refer to funds received for development activities within the European development projects that aim to increase the port’s competitiveness, energy efficiency, environmental safety, and ensure efficient port processes. Subsidies received to cover the costs incurred are recognised strictly as income in the periods when the relevant costs that this income is supposed to cover are incurred.
Income from utilising retained salary contributions is recognised in compliance with the Vocational Rehabilitation and Employment of Disabled Persons Act in the amount of eligibly used funds. Other income is recognised when it can be justifiably expected that cash receipts will flow from them.
Finance income comprises interest income from loans, deposits, treasury bills, default interest on late payment of services and receivables, dividend income, income from disposal of available-for-sale financial assets, and foreign exchange gains. Interest income is recognised when accrued using the effective interest method. Dividend income is recognised in profit or loss when a shareholder’s right to payment is established.
Finance expenses comprise interest costs on borrowings, interest on leases as derived from the standard IFRS 16, foreign exchange losses and impairment losses on financial assets recognised through profit or loss. Costs of borrowings and approval of these are recognised in the profit or loss over the entire maturity of the borrowings.
The statement of other comprehensive income outlines the net profit or loss for the period as well as other comprehensive income. Other comprehensive income includes items of income and expense that are not recognised in profit or loss but affect equity.
The statement of cash flows is presented by applying the indirect method, on the basis of items reported in the statement of financial position as at 31 December 2023 and 31 December 2022, as well as items in the 2023 income statement, inclusive of any necessary adjustments of the cash flow.
The statement of changes in equity outlines changes in individual equity components during the financial year (total income and expenses, in addition to transactions with stakeholders that act as owners), inclusive of the net profit or loss distribution. The statement of other comprehensive income is also included, increasing net profit of the accounting period by total revenue and expenses directly recognised in the equity.
The Company/Group monitors and strives to manage risks at all levels of business. In the assessment of risks, various risk factors are considered. Efficient risk management is ensured by timely identification and management of risks and by relevant guidelines and policies, which are laid down in documents of the overall management system.
Operations of the Company/Group are exposed to strategic, operational and financial risks, which largely depend on market laws and thereby require active and ongoing monitoring. Procedures for risk identification are described in the business report, Chapter 14 ‘Managing risks and opportunities’. In addition to strategic and operational risks, the Company/Group also faces financial risks, of which the most significant ones include the fair value risk, interest rate risk, liquidity risk, currency risk and credit risk, as well as the risk of adequate capital composition. How financial risks are identified and managed within the Company/Group is disclosed in Note 32 ‘Financial instruments and financial risk management’.
Fair value is used with financial assets measured at fair value. All other financial statement items are presented at cost or amortised cost.
In measuring the fair value of a non-financial asset, the Company/Group must take into account the market participant’s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another market participant that would use the asset at its highest and best use.
The Company/Group uses valuation techniques that are appropriate under the given circumstances and for which there is enough data available, mainly based on the use of appropriate market inputs and the minimum use of non-market inputs.
All assets and liabilities that are measured or disclosed at fair value in the financial statements are classified into a fair value hierarchy based on the lowest level of inputs required for measuring the total fair value:
At the end of each reporting period, the Company/Group determines whether any transitions between levels occurred in the case of assets and liabilities recognised in the financial statements for previous periods by re-examining the distribution of assets, taking into account the lowest level of inputs required for measuring the total fair value.
The fair value measurement hierarchy of the Company’s/Group’s assets and liabilities is presented in Note 32: ‘Financial instruments and financial risk management’.
Consolidated financial statements are the combined financial statements of the controlling company and its subsidiaries.
Subsidiaries are entities controlled, directly or indirectly, by the parent or controlling company. Control exists when the investor is exposed to or entitled to a variable return or has rights to a variable return in the company into which he invests, has the ability to influence financial and business decisions, and there is a link between influence and return. An assessment of control is made at the time of acquisition of the investment and on the basis of the perception of changed facts and circumstances of control.
The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.
Associates are those entities in which the Group has significant influence but not control over the financial and operating policies. Investments in associates are initially recognised at cost and thereupon accounted for under the equity method. The consolidated financial statements of the Luka Koper Group comprise the Group’s share and profits and losses of jointly controlled entities, accounted for under the equity method upon the adjustment of accounting policies from the date when significant influence begins until the date when it ends. If the Group’s share in the losses of associates exceeds its share, the book value of the Group’s share is reduced to zero, whereas the share in further losses is no longer recognised.
Balances and any unrealised gains and losses or income and expenses arising from intragroup transactions are eliminated in preparing the consolidated financial statements. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is evidence of impairment.
The standards and interpretations presented below were not yet effective until the date of financial statements or have not yet been confirmed by the European Union. Relevant standards and interpretations will be applied upon their entry into force by the Company/Group in preparing their financial statements.
Amendments to existing standards issued by the International Accounting Standards Board (IASB) and adopted by the EU that are effective for the current reporting period include:
The adoption of these new standards, amendments to valid standards and interpretations has not caused major changes in the financial statements of the Company/Group.
New standards and amendments to existing standards issued by the IASB at the date of approval of these financial statements and adopted by the EU but effective for the reporting period beginning on 1 January 2024 are:
The amendment requires that the entity's right to defer settlement of the obligation for at least 12 months from the reporting date must be substantive and must exist at the end of the reporting period. The classification of liabilities is unaffected by the probability that the company will exercise its right to defer the liability for at least 12 months after the reporting date. The standard was subsequently revised again.
If a company’s right to defer settlement depends on the company complying with certain conditions, those conditions affect whether the right to defer existed at the end of the reporting period if the entity is required to comply with covenants at or before the end of the reporting period and not if the company is required to comply after the end of the reporting period. The amendment also clarifies the term "settlement" for the purpose of classifying liabilities as current or non-current.
• Amendments to IFRS 16 – Leases: Lease Liability in a Sale and Leaseback. The amendment contains a requirement for the seller-lessee to determine the 'rental payment' or 'modified rental payment' in a way that it does not recognise any amount of the gain or loss that relates to the right of use it retains. The adoption of the new standards, amendments to existing ones, and interpretations will not have a major effect on the financial statements of the Company/Group.
Currently, IFRS as adopted by the EU do not differ significantly from the rules adopted by the International Accounting Standards Board (IASB), with the exception of the following new standards and amendments to existing standards that are effective for the reporting periods beginning on 1 January 2024 and 1 January 2025, respectively, and have not yet been adopted by the EU:
• Amendment to IAS 7 – Statement of Cash Flows and IFRS 7 – Financial Instruments: Disclosures (Amendments). On 25 May 2023, the IASB issued Supplier Finance Arrangements, which amends IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures (Amendments). These amendments arose as a result of a submission received by the IFRS Interpretations Committee (the Committee) on the requirements for the disclosure of liabilities and related cash flows arising from supplier financing arrangements and related disclosures. In December 2020, the Board published the agenda decision Supply Chain Financing Arrangements - Reverse Factoring, which addressed the submission based on the IFRS accounting standard requirements in force at that time. During this process, stakeholder feedback highlighted the limitations of the effective requirements to address the important user information needs that would enable them to understand the effects of financial arrangements with suppliers on an entity's financial statements and to compare one entity with another. In response to this feedback, the IASB has undertaken to implement a narrow range of standards, which has led to amendments. The amendments require entities to provide certain specific disclosures (qualitative and quantitative) in relation to supplier finance arrangements. The amendments also provide guidance on the characteristics of supplier finance arrangements.
• Amendment to IAS 21 - The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability. The Company/Group assumes that the adoption of the new standards and amendments to existing ones will not have a major effect on its financial statements over the initial period of use.
In 2023, the Company/Group acted in accordance with the adopted 2020-2025 Strategic Business Plan, the strategic direction of environmental development and the strategy of sustainable development and social responsibility. At the end of 2023, a new strategy for the period 2024 - 2028 was adopted, which took into account the principles of sustainable development and responsible environmental management, with sustainable development being one of the key strategic orientations of the Luka Koper Company/Group. Being aware that the port is an important sustainable development stakeholder whose impacts on the environment and society may be both positive and negative, the Luka Koper Company/Group has decided to accede to achieving the global sustainable development goals in the context of comprehensive sustainability reporting. Sustainable Development Goals (SDG) have been adopted by all United Nations member states, their purpose being to pursue the development of the entire society, economy, science and civil society - which will play an important role in attaining the key objectives of the society as a whole by 2030.
The most important strategic orientations are:
Below, the Company/Group discloses explanatory notes relating to the Company/Group's environmental sustainability information:
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Net revenue from sales to domestic customers based on contracts with customers | 99,442,205 | 96,070,727 | 102,751,684 | 99,146,628 |
| - services | 99,356,444 | 95,871,210 | 102,665,923 | 98,947,111 |
| - goods and material | 85,761 | 199,517 | 85,761 | 199,517 |
| Net revenue from sales to foreign customers based on contracts with customers | 200,293,726 | 206,177,480 | 200,998,481 | 206,906,522 |
| - services | 200,293,726 | 206,177,480 | 200,998,481 | 206,906,522 |
| Net revenue from contracts with customers | 299,735,931 | 302,248,207 | 303,750,165 | 306,053,150 |
| Revenue from collected port dues | 7,430,613 | 5,924,861 | 7,430,613 | 5,924,861 |
| Net revenue generated on sales from rentals | 2,117,679 | 2,023,612 | 1,591,711 | 1,484,625 |
| Total | 309,284,223 |
310,196,680
312,772,489
313,462,636
Net sales revenue in 2023 is at the level of the previous year. Within net revenue, higher revenues were achieved from container and car transhipment, higher volume of loading and unloading of containers, higher volume of other additional services on goods and higher prices for services, while lower revenues were achieved from warehousing fees.
In 2023, in the Company and in the Group, the item of total net revenue comprises two individual customers that exceed 10 percent of total sales, which is at the same level as in the preceding year.
The Company's capitalised own products and services amounted to EUR 91,388 in 2023 (2022: EUR 77,600) and the Group's capitalized own products and services amounted to EUR 95,639 in 2023 (2022: EUR 77,611). Under the item of capitalised own products and own services, the Company and the Group record services that increase the value of property, plant and equipment. The labour costs of employees related to investment projects of higher value and accumulated over a long period of time are capitalised.
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Reversal of provisions | 1,657,785 | 2,975 | 1,657,785 | 2,975 |
| Subsidies, grants and similar income | 0 | 0 | 1,898,598 | 1,721,261 |
| Income on sale of property, plant and equipment, and investment property | 164,108 | 675,055 | 198,956 | 821,416 |
| Collected impaired receivables and written-off liabilities | 610,462 | 395,150 | 622,616 | 409,644 |
| Compensations and damages | 309,080 | 279,278 | 378,550 | 296,070 |
| Subsidies and other income not related to services | 1,240,867 | 696,355 | 1,240,867 | 696,355 |
| Other revenue | 58,456 | 289,725 | 71,134 | 317,894 |
| Total | 4,040,758 | 2,338,538 | 6,068,506 |
The reversal of provisions relates to a change in the assessment of legal obligations. Subsidies, grants and similar income recorded in the Group primarily relate to income from utilising retained salary contributions in the amount of earmarked funds used in the subsidiary Luka Koper INPO, d. o. o. Compensation and penalties received refer to compensation received due to loss events. Among subsidies and other non-operating income, the Company/Group reports revenues from co-financed EU projects, which were incurred either to cover costs or depreciation costs.
| (in EUR) | Luka Koper, d. d. | Luka Koper Group | ||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Costs of auxiliary material | 2,518,473 | 2,373,081 | 2,667,707 | 2,478,382 |
| Cost of spare parts | 7,602,368 | 8,275,244 | 7,456,099 | 8,280,505 |
| Costs of electricity | 5,320,261 | 4,827,136 | 5,381,488 | 4,878,047 |
| Costs of fuel | 6,059,063 | 6,747,777 | 6,221,504 | 6,959,860 |
| Other energy costs | 87,603 | 125,906 | 89,811 | 128,519 |
| Cost of office stationery | 130,642 | 113,652 | 139,991 | 124,258 |
| Other cost of material | 428,656 | 334,102 | 454,001 | 354,992 |
| Total | 22,147,066 | 22,796,898 | 22,410,601 | 23,204,563 |
In the structure of material costs, the largest increase can be seen in electricity costs, mainly due to higher consumption of electricity, while the largest decrease originates in lower costs of spare parts and lower fuel costs due to lower consumption and lower average price of fuel.
| 2023 | 2022 | 2023 | 2022 | |
|---|---|---|---|---|
| Cost of port services | 40,086,991 | 34,834,133 | 36,543,321 | 31,798,340 |
| Cost of transportation | 577,466 | 430,726 | 223,419 | 175,334 |
| Cost of maintenance | 11,047,917 | 7,287,790 | 10,947,762 | 7,096,165 |
| Rentals | 216,038 | 204,357 | 205,565 | 196,965 |
| Reimbursement of labour-related costs | 412,480 | 319,159 | 448,775 | 336,862 |
| Costs of payment processing, bank charges and insurance premiums | 1,943,800 | 1,296,884 | 2,030,764 | 1,438,912 |
| Costs of intellectual and personal services | 1,617,153 | 1,162,338 | 1,680,402 | 1,257,531 |
| Advertising, trade fairs and hospitality | 1,484,750 | 1,258,125 | 1,502,662 | 1,278,686 |
| Costs of services provided by individuals not performing business activities | 568,114 | 333,726 | 634,149 | 369,370 |
| Sewage and disposal services | 1,634,766 | 1,550,878 | 1,273,669 | 1,022,598 |
| Information support | 5,266,414 | 4,500,214 | 5,518,349 | 4,673,659 |
| Concession-related costs | 10,650,012 |
| 5,595,511 | 6,084,315 | 5,595,511 | 6,084,315 | |
|---|---|---|---|---|
| Cost of other services | 4,121,330 | 4,370,700 | 2,612,691 | 2,918,274 |
| Total | 85,222,742 | 74,316,012 | 79,867,051 | 69,329,678 |
As in previous years, cost of port services account for the largest portion among cost of services. In the financial year 2023, the Company discloses under costs of port services EUR 16,938,565 of costs for workers deployed through agencies (2022: EUR 15,846,169) and EUR 14,554,428 of costs for services provided by external contractors (2022: EUR 11,582,465). In 2023, the Group discloses EUR 17,262,077 of costs for workers deployed through agencies (2022: EUR 15,993,365) and EUR 14,761,416 of costs for services provided by external contractors (2022: EUR 11,952,588). The increased costs are due to a larger volume of services provided by agency workers and external contractors.
The cost of maintenance services in the observed year is higher compared to 2022 due to the higher volume of maintenance work and higher prices for services. Among the maintenance costs, the Company/Group also reports environmentally sustainable investments of EUR 4,832,680 for the Company and EUR 4,780,521 for the Group, for the maintenance of the infrastructure required for the operation of vessels or port activities with zero CO2 emissions, followed by the renewal of water collection, treatment and distribution systems and the energy efficiency of buildings.
IT support costs are higher in 2023 compared to the previous year due to development activities and the considerable cost of maintaining the new Edifact Centre 2 platform at the container terminal.
Concession costs remain at the previous year's level, while the company/group's transhipment fee is lower by EUR 488,804, mainly due to lower transhipment at the bulk and dry bulk cargoes terminal.
The costs of other services in the controlling company consist mainly of fumigation, security, toll collection, waste collection, berthing and parking services. The latter are carried out by the subsidiary Luka Koper INPO, d. o.o. and are therefore eliminated in consolidation.
| (in EUR) | Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||
| Wages and salaries | 64,565,570 | 61,319,742 | 69,555,950 | 66,064,515 | |
| Salary compensations | 11,081,620 | 8,586,719 | 12,034,376 | 9,396,336 | |
| Costs of additional pension insurance | 2,859,722 | 2,565,962 | 3,126,277 | 2,808,165 | |
| Employer's contributions on employee benefits |
| 12,529,356 | 11,577,922 | 13,485,424 | 12,479,435 | |
|---|---|---|---|---|
| 10,681,853 | 9,527,483 | 11,674,157 | 10,492,838 | |
| Total | 101,718,121 | 93,577,828 | 109,876,184 | 101,241,289 |
In 2023, the average number of employees in the Company increased by 107 against the average in 2022, while the average number of employees in the Group increased by 108 employees between the two compared years. The increase in labour costs compared to the corresponding prior period was mainly due to new recruitments, higher variable remuneration paid to employees as a result of the Company/Group performing above target and the adjustment of salaries to the consumer price index.
In December 2023, employees of all companies in the Group except for board members and employees under individual employment contracts received pay for performance. Some companies in the Group also paid out the holiday bonus for the 2023 business year in December 2023 or January 2024.
For the 21st year in a row, the Company/Group has been paying for its employees 70 to 90 percent (depending on the employee’s age) of the tax deductible supplementary pension scheme premium.
In 2023, the annual holiday pay amounted to EUR 2,192, per employee in all companies of the Group, whereas in the preceding year, it was EUR 2,008.
| Level of education | Luka Koper, d. d. 2023 | Luka Koper, d. d. 2022 | Luka Koper Group 2023 | Luka Koper Group 2022 |
|---|---|---|---|---|
| VIII/2 | 2 | 1 | 2 | 1 |
| VIII/1 | 24 | 25 | 26 | 27 |
| VII | 134 | 126 | 142 | 134 |
| VI/2 | 244 | 236 | 251 | 242 |
| VI/1 | 120 | 112 | 127 | 119 |
| V | 508 | 461 | 551 | 503 |
| IV | 527 |
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Depreciation of buildings | 15,451,499 | 14,742,278 | 15,859,646 | 15,181,494 |
| Depreciation of equipment and spare parts | 15,511,614 | 14,672,512 | 16,011,721 | 15,159,149 |
| Depreciation of small tools | 15,469 | 19,666 | 15,778 | 19,975 |
| Depreciation of investment property | 584,912 | 586,800 | 271,245 | 264,909 |
| Amortisation of intangible assets | 247,390 | 390,106 | 254,678 | 439,233 |
| Depreciation of investment into foreign-owned assets | 11,667 | 11,667 | 17,743 | 17,743 |
| Depreciation of right-of-use assets | 440,551 | 376,817 | 388,728 | 405,491 |
| Total | 1,695 | 1,588 | 1,858 | 1,750 |
| 2023 | 2022 | 2023 | 2022 | |
|---|---|---|---|---|
| Provisions | 2,864,406 | 75,665 | 2,864,406 | 75,665 |
| Impairment costs, write-offs and losses on property, plant and equipment and investment property | 462,566 | 239,986 | 600,616 | 240,144 |
| Expenses for allowances for receivables | 113,463 | 370,406 | 124,571 | 379,672 |
| Levies that are not contingent upon cost of labour and other types of cost | 7,524,520 | 7,486,773 | 7,567,863 | 7,496,411 |
| Donations | 539,400 | 354,800 | 547,750 | 359,580 |
| Environmental levies | 220,219 | 148,310 | 190,455 | 139,874 |
| Awards and scholarships to students inclusive of tax | 25,503 | 6,987 | 25,503 | 6,987 |
| Awards and scholarship to students | 28,195 | 23,142 | 28,195 | 23,142 |
| Other costs and expenses | 1,053,827 | 686,642 | 1,101,477 | 706,329 |
| Total |
12,832,099
9,392,711
13,050,836
9,427,804
Provisioning costs refer to expenses incurred in connection with lawsuits received by the controlling company. In accordance with Article 92 of IAS 37 – Provisions, Contingent Liabilities and Contingent Assets, the Company/Group does not disclose detailed information on its legal obligations as such disclosure could result in a judgement on the position of the Company in disputes with other parties.
Expenses for impairments, write-offs and losses from the sale of property, plant and equipment and investment property relate to the write-off of replaced parts or the destruction of assets that had a carrying amount and to the sale of assets that realised a loss.
In 2023, expenses for forming the value adjustment of receivables decreased mainly in the controlling company, which was due to a better ageing structure of receivables from customers. The amount of expenses in forming the value adjustment of receivables arises from contracts with customers in accordance with IFRS 15.
Levies that are not contingent upon cost of labour and other types of cost mostly relate to the fee for the use of construction land.
The Company/Group continues to have a humanitarian orientation and has therefore earmarked more funds for donations in 2023 than in the previous year. Among the major donations in both 2023 and 2022 is a donation to the Municipality of Koper for the implementation of mitigation measures to reduce the environmental impact of emissions from port operations. For this purpose, the company transferred EUR 200,000 annually to the municipality, and the municipality distributed these funds to the beneficiaries by holding a public tender for the allocation of grants.
Other costs and expenses mainly consist of compensations for damage to assets owned by third persons. The damage occurred during the handling of goods in the port.
| (in EUR) | Luka Koper, d. d. | Luka Koper Group | 2023 | 2022 | 2023 | 2022 |
|---|---|---|---|---|---|---|
| Finance income from shares and interests | 5,149,167 | 6,180,097 | 3,510,022 | 3,676,106 | ||
| Finance income from shares and interests in Group companies | 462,701 | 1,401,462 | 0 | 0 | ||
| Finance income from shares and interests in associate companies | 1,232,981 | 1,158,075 | 0 | 0 | ||
| Finance income from shares and interests in other companies | 2,932,828 | 2,524,888 | 2,989,366 | 2,580,434 | ||
| Finance income from other investments | 520,656 | 1,095,672 | 520,656 | 1,095,672 | ||
| Finance income – interest | 2,036,294 |
| Interest income – other | 2,036,294 | |||
|---|---|---|---|---|
| Finance income from operating receivables | 387,358 | 158,178 | 395,964 | 166,646 |
| Finance income from operating receivables due from others | 387,358 | 149,512 | 395,964 | 154,953 |
| Net exchange differences | 0 | 8,666 | 0 | 11,693 |
| Total finance income | 7,572,819 | 6,349,703 | 6,391,292 | 3,867,468 |
| Finance expenses for financial investments | 0 | -790,272 | 0 | -305,272 |
| Finance expenses – interest | -1,422,134 | -405,344 | -1,421,902 | -404,967 |
| Interest expenses – banks | -1,415,497 | -397,701 | -1,415,497 | -397,701 |
| Finance expenses for lease liability to others | -6,055 | -6,992 | -6,405 | -7,266 |
| Finance expenses for lease liability to Group companies | -582 | -651 | 0 | 0 |
| Finance expenses for operating liabilities | -261,436 | -49,174 | -287,114 | -54,428 |
| Finance expenses for trade payables | -7 | -26 | -21 | -45 |
| Finance expenses for other operating liabilities |
| -240,770 | -49,148 | -264,549 | -54,383 | |
|---|---|---|---|---|
| Net exchange differences | -20,659 | 0 | -22,544 | 0 |
| Total finance expenses | -1,683,570 | -1,244,790 | -1,709,016 | -764,667 |
| Net financial result | 5,889,249 | 5,104,913 | 4,682,276 | 3,102,801 |
In 2023, the controlling company records finance income from shares in Group companies and presents shared profits of these companies, i.e. Luka Koper INPO, d. o. o., in the amount of EUR 115,027, Adria Terminali, d. o. o., in the amount of EUR 250,000 Adria Investicije, d. o. o., in the amount of EUR 44,679, Logis-Nova, d. o. o. in the amount of EUR 11,859, and TOC, d. o .o. in the amount of EUR 41,136. In the previous year, in addition to the financial income of EUR 202,983 due to the payment of profits of the Group companies, the controlling company also realised income of EUR 1,198,479 on the completion of the liquidation proceedings of Luka Koper Pristan, d. o. o. - in liquidation, which ended on 14 December 2022 with the company's removal from the court register.
Finance income from shares and interests in associates recorded by the controlling company in 2023 refers to sharing of profits of companies, i.e., Adria-Tow, d. o. o. in the amount of EUR 541,000, Adria Transport, d. o. o. in the amount of EUR 160,246, Avtoservis, d. o. o. in the amount of EUR 487,490, and Adriafin, d. o. o. in the amount of EUR 44,245.
Finance income from shares and interests in other entities recorded by the Company/Group mainly refers to dividends received on investments into securities and distributions of the related share of profits. The group also reports the profits received from companies that are excluded from consolidation, namely Logis-Nova, d. o. o. and Adria Investicije, d. o. o.
Finance income from other investments refers to the recognised higher value of investments valued at fair value through profit or loss.
The Company/Group also generates finance income in the financial markets through interest on funds placed in short-term bank deposits and treasury bills.
Finance income from operating receivables relates mainly to default interest charged for late payments of receivables paid by customers in the financial year.
| (in EUR) | Luka Koper, d. d. | Luka Koper Group | ||
|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |
| Profit before tax | 65,122,488 | 86,834,436 | 67,375,056 | 87,951,620 |
| Income tax (19%) | 12,373,273 | 16,498,543 | 12,801,261 |
| 16,710,808 | ||||
|---|---|---|---|---|
| Non-taxable income and increase in expenditure | -537,578 | -306,173 | -565,549 | -369,201 |
| Non-taxable dividends received | -776,627 | -738,330 | -803,378 | -680,062 |
| Tax incentives | -1,388,746 | -2,698,089 | -1,711,210 | -2,857,012 |
| Non-deductible expense | 716,072 | 759,984 | 805,819 | 876,874 |
| Other reduction in the tax base | 0 | 0 | -8,990 | -8,140 |
| Other increase in the tax base | 302,789 | 52,274 | 429,089 | 52,274 |
| Tax calculated under tax uncertainty | 574,656 | 0 | 574,656 | 0 |
| Change in tax rate | -591,373 | 0 | -592,011 | 0 |
| Total tax expenditure | 10,672,466 | 13,568,209 | 10,929,687 | 13,725,541 |
| Effective tax rate | 16.39% | 15.63% | 16.22% | 15.61% |
For the income tax calculation, the controlling company and all Group companies observed provisions of the Corporate Income Tax Act.
The tax expense comprises the income tax and deferred taxes recognised in the income statement.
| Luka Koper, d. d. | Luka Koper Group | 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|---|---|---|
| Net profit for the period | 54,450,022 | 73,266,227 | 56,393,649 |
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Land | 17,513,373 | 20,138,595 | 22,314,194 | 23,287,917 |
| Buildings | 293,595,520 | 288,263,091 | 299,987,009 | 294,658,334 |
| Plant and equipment | 107,650,039 | 106,427,539 | 109,538,146 | 108,530,087 |
| Property, plant and equipment being acquired | 33,055,949 | 30,151,426 | 33,062,149 | 30,168,276 |
| Rights to use assets | 938,303 | 1,125,800 | 822,911 | 1,000,701 |
| Total | 452,753,184 | 446,106,451 | 465,724,409 | 457,645,315 |
No items of the Company’s/Group’s property, plant and equipment were pledged as collateral.
The cost of the property, plant and equipment in use, of which the carrying value as at 31 December 2023 equalled zero, is recorded in the Company at EUR 308,246,546 (31 Dec 2022: EUR 291,503,400). In the Group, such assets amounted to purchase price of EUR 317,109,486 as at 31 December 2023 (31 Dec 2022: EUR 299,250,747).
As at 31 December 2023, the Company/Group presented commitments to purchase property, plant and equipment in the amount of EUR 75,756,496 (in 2022, EUR 37,419,048 at the Company/Group level).
As at 31 December 2023, the outstanding trade payables of the Company to suppliers of items of property, plant and equipment amounted to EUR 11,758,389 (2022: EUR 15,032,463), and the Group recorded such payables at EUR 11,830,912 (2022: EUR 15,038,666).
In 2023, the Company/Group recognised EUR 214,669 from capitalization of borrowing costs. The weighted interest rate was between 1.60% and 1.90%.
EUR 41,351,905 in the Group. The largest investments were:
In terms of mitigating climate change and adapting to climate change, the Company/Group invested in the amount of EUR 867,951 in 2023, mainly in the construction of solar power plants, energy upgrade of lighting, procurement and installation of ventilation, heating and cooling systems and electric scooters.
In order to meet its sustainability vision, the Company/Group invested a total of EUR 4,332,437, mainly in the upgrade of the dry bulk cargoes terminal in accordance with the ATEX Directive, the modernisation of the cooling and fire-fighting system on the Methanol tanks, seabed dredging and transfer of marine sediment, and the replacement of internal combustion cars with electric ones.
In the reference period, the Company/Group found no material indication of required impairment to be carried out with respect to the property, plant and equipment.
At the end of the year, the Company/Group assessed the useful life of property, plant and equipment and concluded that there had been no change in circumstances. The Company/Group divides important fixed assets by components that have different useful lives.
The difference between the cost and value adjustment for assets disposed of and written off was recognised among costs for impairment, write-offs and losses on sale of property, plant and equipment and investment property (Note 8).
| Land | Buildings | Plant and equipment | Assets in acquisition | Total | ||
|---|---|---|---|---|---|---|
| Cost | Balance at 31 Dec 2022 | 20,138,595 | 574,194,757 | 354,039,484 | 30,151,427 | 978,524,263 |
| Additions | 0 | 0 | 0 | 41,067,873 | 41,067,873 | |
| Transfer from investments in course of construction | 137,736 | 21,203,092 | 16,727,196 | -38,068,024 | 0 | |
| Disposals | -542,000 | -526,496 | -3,186,060 | -12,000 | -4,266,556 | |
| Write-offs | 0 | -1,036,796 |
| -3,010,412 | 0 | -4,047,208 |
|---|---|---|
| Transfer to intangible assets | 0 | 0 |
| -11,018 | -28,529 | -39,547 |
| Transfer from intangible assets | 0 | 0 |
| 109,150 | 0 | 109,150 |
| Transfer to investment property | 0 | 0 |
| 0 | -54,799 | -54,799 |
| Reclassifications within property, plant and equipment | -569,459 | -655,966 |
| -14,091 | 0 | -1,239,516 |
| Subsequent payments to a subsidiary | -1,651,498 | -1,053,724 |
| -246,316 | 0 | -2,951,537 |
| Balance at 31 Dec 2023 | 17,513,373 | 592,124,867 |
| 364,407,933 | 33,055,950 | 1,007,102,123 |
| Allowances | Balance at 31 Dec 2022 | 0 |
| 285,931,666 | 247,611,945 | 0 |
| 533,543,611 | Depreciation | 0 |
| 15,463,166 | 15,527,083 | 0 |
| 30,990,249 | Disposals | 0 |
| -183,699 | -3,133,045 | 0 |
| -3,316,744 | Write-offs | 0 |
| -950,614 | -3,010,412 | 0 |
| -3,961,026 |
| 0 | 0 | 19,000 | 0 | 19,000 |
|---|---|---|---|---|
| 0 | -1,225,997 | -13,520 | 0 | -1,239,516 |
|---|---|---|---|---|
| 0 | -505,175 | -243,157 | 0 | -748,332 |
|---|---|---|---|---|
| 0 | 298,529,347 | 256,757,895 | 0 | 555,287,242 |
|---|---|---|---|---|
| 20,138,595 | 288,263,091 | 106,427,539 | 30,151,427 | 444,980,652 |
|---|---|---|---|---|
| 17,513,373 | 293,595,520 | 107,650,038 | 33,055,950 | 451,814,881 |
|---|---|---|---|---|
| Land | Buildings | Plant and equipment | Assets in acquisition | Total | ||
|---|---|---|---|---|---|---|
| Cost | Balance at 31 Dec 2021 | 20,138,595 | 540,212,421 | 337,792,237 | 37,649,656 | 935,792,909 |
| Additions | 0 | 0 | 0 | 50,144,988 | 50,144,988 | |
| Transfer from investments in course of construction | 0 |
| 34,854,725 | 22,620,616 | -57,475,341 | 0 | |||
|---|---|---|---|---|---|---|
| Disposals | 0 | -915,576 | -5,730,648 | -51,542 | -6,697,766 | |
| Write-offs | 0 | -94,870 | -675,280 | 0 | -770,150 | |
| Transfer to intangible assets | 0 | 0 | 0 | -29,980 | -29,980 | |
| Transfer from intangible assets | 0 | 0 | 32,559 | 0 | 32,559 | |
| Transfer to investment property | 0 | 0 | 0 | -86,354 | -86,354 | |
| Transfer from investment properties | 0 | 138,057 | 0 | 0 | 138,057 | |
| Balance at 31 Dec 2022 | 20,138,595 | 574,194,757 | 354,039,484 | 30,151,427 | 978,524,263 | |
| Allowances | Balance at 31 Dec 2021 | 0 | 271,934,357 | 239,260,078 | 0 | 511,194,435 |
| Depreciation | 0 | 14,753,946 | 14,692,178 | 0 | 29,446,124 | |
| Disposals | 0 | -817,710 | -5,730,280 | 0 | -6,547,990 | |
| Write-offs |
| Land | Buildings | Plant and equipment | Assets in acquisition | Total | |
|---|---|---|---|---|---|
| Balance at 31 Dec 2022 | 23,287,916 | 587,710,773 | 365,340,554 | 30,168,278 | 1,006,507,521 |
| Additions | 0 | 0 | 211,199 | 41,140,706 | 41,351,905 |
| Transfer from investments in course of construction | 137,736 | 21,203,092 | 16,798,828 | -38,139,656 | 0 |
| Disposals | -542,000 | -991,171 | -3,269,283 | -12,000 | -4,814,454 |
| Write-offs |
0
285,931,666
247,611,945
0
533,543,611
Balance at 31 Dec 2021
20,138,595
268,278,064
98,532,159
37,649,656
424,598,474
20,138,595
288,263,091
106,427,539
30,151,427
| Transfer to intangible assets | -1,036,796 | -3,022,912 | 0 | -4,059,708 | ||
|---|---|---|---|---|---|---|
| Transfer from intangible assets | 0 | 0 | -11,018 | -40,379 | -51,397 | |
| Transfer to investment property | 0 | 0 | 109,150 | 0 | 109,150 | |
| Reclassifications within property, plant and equipment | -569,459 | -686,051 | -34,131 | 0 | -1,289,641 | |
| Subsequent payments to a subsidiary - Increases | 4,800,821 | 4,930,750 | 3,159 | 0 | 9,734,730 | |
| Subsequent payments to a subsidiary - Decreases | -4,800,821 | -10,052,879 | -246,316 | 0 | -15,100,015 | |
| Balance at 31 Dec 2023 | 22,314,192 | 601,077,718 | 375,879,232 | 33,062,151 | 1,032,333,292 | |
| Allowances | Balance at 31 Dec 2022 | 0 | 293,052,440 | 256,810,467 | 0 | 549,862,907 |
| Depreciation | 0 | 15,877,389 | 16,027,498 | 0 | 31,904,888 | |
| Disposals | 0 | -183,699 |
| -3,216,251 | 0 | -3,399,950 | Write-offs | 0 |
|---|---|---|---|---|
| -1,289,497 | -3,022,912 | 0 | -4,312,408 | Transfer from intangible assets |
| 0 | 19,000 | 0 | 19,000 | Reclassifications within property, plant and equipment |
| 0 | -1,243,797 | -33,560 | 0 | -1,277,357 |
| Subsequent payments to a subsidiary - Decreases | 0 | -5,122,128 | -243,157 | 0 |
| -5,365,285 | Balance at 31 Dec 2023 | 0 | 301,090,708 | 266,341,086 |
| 0 | 567,431,794 | Carrying amount | Balance at 31 Dec 2022 | 23,287,916 |
| 294,658,333 | 108,530,087 | 30,168,278 | 456,644,614 | Balance at 31 Dec 2023 |
| 22,314,192 | 299,987,010 | 109,538,146 | 33,062,151 | 464,901,498 |
| Land | Buildings | Plant and equipment | Assets in acquisition | Total |
|---|---|---|---|---|
| Cost | Balance at 31 Dec 2021 | 23,287,916 | 555,061,052 | 349,638,972 |
| 37,670,657 | 965,658,597 |
| 0 | 34,256 | 556,959 | 50,180,987 | 50,772,202 | |
|---|---|---|---|---|---|
| Transfer from investments in course of construction | 0 | 34,894,321 | 22,621,169 | -57,515,490 | 0 |
| Disposals | 0 | -2,340,514 | -6,833,825 | -51,542 | -9,225,881 |
| Write-offs | 0 | -94,870 | -675,280 | 0 | -770,150 |
| Transfer from property, plant and equipment | 0 | 20,960 | 0 | 0 | 20,960 |
| Transfer to intangible assets | 0 | -2,489 | 0 | -29,980 | -32,469 |
| Transfer from intangible assets | 0 | 0 | 32,559 | 0 | 32,559 |
| Transfer to investment property | 0 | 0 | 0 | -86,354 | -86,354 |
| Transfer from investment properties | 0 | 138,057 | 0 | 0 | 138,057 |
| Balance at 31 Dec 2022 | 23,287,916 | 587,710,773 | 365,340,554 | 30,168,278 | 1,006,507,521 |
| Balance at 31 Dec 2021 | 0 | 279,071,607 | 249,049,221 |
|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Land | 687,699 | 956,040 | 687,699 | 956,040 |
| Buildings |
| 0 | 15,199,239 | 15,179,124 | 0 | 30,378,363 | |
|---|---|---|---|---|---|
| 0 | -1,277,646 | -6,807,847 | 0 | -8,085,493 | |
|---|---|---|---|---|---|
| 0 | -72,563 | -610,031 | 0 | -682,594 | |
|---|---|---|---|---|---|
| 0 | -1,833 | 0 | 0 | -1,833 | |
|---|---|---|---|---|---|
| 0 | 133,636 | 0 | 0 | 133,636 | |
|---|---|---|---|---|---|
| 0 | 293,052,440 | 256,810,467 | 0 | 549,862,907 | |
|---|---|---|---|---|---|
| 23,287,916 | 275,989,445 | 100,589,751 | 37,670,657 | 437,537,769 |
|---|---|---|---|---|
| 23,287,916 | 294,658,333 | 108,530,087 | 30,168,278 | 456,644,614 |
|---|---|---|---|---|
| Land | Buildings | Plant and equipment | Total | |
|---|---|---|---|---|
| Cost | ||||
| Balance at 31 Dec 2022 | 1,987,392 | 491,288 | 64,965 | 2,543,644 |
| Additions | 0 | 211,483 | 41,571 | 253,054 |
| Disposals, write-offs | -590,624 | -391,698 | -51,610 | -1,033,931 |
| Balance at 31 Dec 2023 | 1,396,768 | 311,073 | 54,926 | 1,762,768 |
| Allowances | |||||
|---|---|---|---|---|---|
| Balance at 31 Dec 2022 | 1,031,352 | 334,316 | 52,177 | 1,417,845 | |
| Depreciation | 268,341 | 130,682 | 41,529 | 440,551 | |
| Disposals, write-offs | -590,624 | -391,698 | -51,610 | -1,033,931 |
| Land | Buildings | Plant and equipment | Total |
|---|---|---|---|
| 709,069 | 73,300 | 42,096 | 824,465 |
| Land | Buildings | Plant and equipment | Total |
|---|---|---|---|
| 956,040 | 156,972 | 12,788 | 1,125,800 |
| Land | Buildings | Plant and equipment | Total |
|---|---|---|---|
| 687,699 | 237,774 | 12,830 | 938,303 |
| Land | Buildings | Plant and equipment | Total | |
|---|---|---|---|---|
| Cost | ||||
| Balance at 31 Dec 2021 | 1,987,392 | 381,793 | 51,610 | 2,369,185 |
| Additions | 0 | 109,494 | 13,355 | 122,849 |
| Balance at 31 Dec 2022 | 1,987,392 | 491,288 | 64,965 | 2,543,644 |
| Allowances | ||||
| Balance at 31 Dec 2021 | 763,011 | 232,515 | 45,502 | 1,041,028 |
| Depreciation | 268,341 | 101,800 | 6,675 | 376,817 |
| Balance at 31 Dec 2022 | 1,031,352 | 334,316 | 52,177 | 1,417,845 |
| Carrying amount | ||||
| Balance at 31 Dec 2021 | 1,224,381 | 149,278 | 6,108 | 1,328,157 |
| Balance at 31 Dec 2022 | 956,040 | 156,972 | 12,788 | 1,125,800 |
| Land | Buildings | Plant and equipment | Total | ||
|---|---|---|---|---|---|
| Cost | Balance at 31 Dec 2022 | 1,987,392 | 183,417 | 307,833 | 2,478,642 |
| Additions | 0 | 131,259 | 79,677 | 210,936 | |
| Disposals, write-offs | 0 | 0 | -294,478 | -294,478 | |
| Balance at 31 Dec 2023 | 1,987,392 | 314,676 | 93,032 | 2,395,100 |
| Land | Buildings | Plant and equipment | Total | ||
|---|---|---|---|---|---|
| Allowances | Balance at 31 Dec 2022 | 1,031,352 | 170,974 | 275,615 | 1,477,941 |
| Depreciation | 268,341 | 40,218 | 80,169 | 388,728 | |
| Disposals, write-offs | 0 | 0 | -294,478 | -294,478 | |
| Balance at 31 Dec 2023 | 1,299,693 | 211,192 | 61,306 | 1,572,190 |
| Land | Buildings | Plant and equipment | Total | ||
|---|---|---|---|---|---|
| Carrying amount | Balance at 31 Dec 2022 | 956,040 | 12,443 | 32,219 | 1,000,701 |
| Balance at 31 Dec 2023 | 687,699 | 103,484 | 31,727 | 822,910 |
Annual report 2023 293
| Land | ||||
|---|---|---|---|---|
| Plant and equipment | Total Cost | |||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 1,987,392 | 164,213 | 314,839 | 2,466,444 |
| Additions | 0 | 19,204 | 52,538 | 71,742 |
| Disposals, write-offs | 0 | 0 | -59,544 | -59,544 |
| Balance at 31 Dec 2022 | 1,987,392 | 183,417 | 307,833 | 2,478,642 |
| Balance at 31 Dec 2021 | 763,011 | 120,911 | 243,015 | 1,126,937 |
|---|---|---|---|---|
| Depreciation | 268,341 | 50,063 | 87,087 | 405,491 |
| Disposals, write-offs | 0 | 0 | -54,487 | -54,487 |
| Balance at 31 Dec 2022 | 1,031,352 | 170,974 | 275,615 | 1,477,941 |
| Balance at 31 Dec 2021 | 1,224,381 | 43,302 | 71,824 | 1,339,507 |
|---|---|---|---|---|
| Balance at 31 Dec 2022 | 956,040 | 12,443 | 32,219 | 1,000,701 |
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
| 11,256,486 | 14,405,808 | 11,256,486 | 11,256,486 |
|---|---|---|---|
| 4,129,658 | 9,061,559 | 3,831,596 | 4,067,583 |
|---|---|---|---|
| 15,386,143 | 23,467,367 | 15,088,082 | 15,324,069 |
|---|---|---|---|
The item of investment property includes land and buildings leased out, and properties that are currently not in use. Investment properties are valued by using the cost model.
| 2023 | 2022 | 2023 | 2022 | |
|---|---|---|---|---|
| Rental income on investment property | 1,313,239 | 1,238,055 | 830,322 | 755,128 |
| Depreciation of investment property | 584,912 | 584,912 | 271,245 | 271,245 |
| Maintenance costs of investment property | 636,008 | 393,477 | 583,849 | 319,132 |
| Other expenditure | 270,704 | 179,977 | 121,690 | 122,164 |
Investment properties are not pledged as collateral.
Fair value of investment property as at 31 December 2023 amounted to EUR 15,545,375 in the Company and EUR 15,404,728 in the Group.
The Company/Group assesses the fair value significant investments using periodic valuations, and for less significant investments, using the method of the total value of expected future cash flows generated through renting.
The valuation for the purposes of financial reporting was carried out by a certified real estate appraiser as at 30 September 2023. The valuation was carried out using the market comparison approach (comparable transactions method).
The management estimates that the fair value as of 31 December 2023 is unchanged from that at 31 December 2022.
| Land | Buildings | Total |
|---|---|---|
| Cost | Balance at 31 Dec 2022 |
| Land | Buildings | Total | ||
|---|---|---|---|---|
| Cost | Balance at 31 Dec 2021 | 14,405,808 | 17,749,328 | 32,155,136 |
| Additions | 0 | 86,354 | 86,354 | |
| Disposals, write-offs | 0 | -13,847 |
| Land | Buildings | Total | |
|---|---|---|---|
| Balance at 31 Dec 2022 | 0 | 8,622,219 | 8,622,219 |
| Depreciation | 0 | 584,912 | 584,912 |
| Disposals, write-offs | 0 | -35,164 | -35,164 |
| Subsequent payments to a subsidiary | 0 | -4,616,954 | -4,616,954 |
| Balance at 31 Dec 2023 | 0 | 4,555,013 | 4,555,013 |
| Land | Buildings | Total | |
|---|---|---|---|
| Balance at 31 Dec 2022 | 14,405,808 | 9,061,559 | 23,467,367 |
| Balance at 31 Dec 2023 | 11,256,486 | 4,129,657 | 15,386,143 |
| Land | Buildings | Total | |
|---|---|---|---|
| 0 | -54,751 | -54,751 | |
| Transfer from property, plant and equipment | 0 | 54,799 | 54,799 |
| Subsequent payments to a subsidiary | -3,149,322 | -8,999,155 | -12,148,478 |
| Balance at 31 Dec 2023 | 11,256,486 | 8,684,671 | 19,941,156 |
| Land | Buildings | Total | |
|---|---|---|---|
| Cost | |||
| Balance at 31 Dec 2022 | 11,256,486 | 8,020,283 | 19,276,769 |
| Disposals, write-offs | 0 | -54,751 | -54,751 |
| Transfer from property, plant and equipment | 0 | 54,799 | 54,799 |
| Balance at 31 Dec 2023 | 11,256,486 | 8,050,416 | 19,306,902 |
| Allowances | |||
| Balance at 31 Dec 2022 | 0 | 3,952,701 | 3,952,701 |
| Transfer to property, plant and equipment | 0 | -138,057 | -138,057 | |
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 14,405,808 | 17,683,778 | 32,089,586 | |
| Allowances | Balance at 31 Dec 2021 | 0 | 8,180,017 | 8,180,017 |
| Depreciation | 0 | 586,800 | 586,800 | |
| Disposals, write-offs | 0 | -10,961 | -10,961 | |
| Transfer to property, plant and equipment | 0 | -133,636 | -133,636 | |
| Balance at 31 Dec 2022 | 0 | 8,622,219 | 8,622,219 | |
| Carrying amount | Balance at 31 Dec 2021 | 14,405,808 | 9,569,311 | 23,975,119 |
| Balance at 31 Dec 2022 | 14,405,808 | 9,061,558 | 23,467,366 |
| 0 | 271,246 | 271,246 | ||
|---|---|---|---|---|
| Disposals, write-offs | 0 | -22,927 | -22,927 | |
| Balance at 31 Dec 2023 | 0 | 4,218,820 | 4,218,820 | |
| Carrying amount | ||||
| Balance at 31 Dec 2022 | 11,256,486 | 4,067,582 | 15,324,068 | |
| Balance at 31 Dec 2023 | 11,256,486 | 3,831,596 | 15,088,082 |
| (in EUR) | Land | Buildings | Total |
|---|---|---|---|
| Cost | |||
| Balance at 31 Dec 2021 | 11,256,486 | 8,104,304 | 19,360,790 |
| Additions | 0 | 65,394 | 65,394 |
| Disposals, write-offs | 0 | -13,847 | -13,847 |
| Transfer to property, plant and equipment | 0 | -135,568 | -135,568 |
| Balance at 31 Dec 2022 | 11,256,486 | 8,020,283 | 19,276,769 |
| Allowances | |||
| Balance at 31 Dec 2021 | 0 | 3,830,557 | 3,830,557 |
| Depreciation | 0 | 264,908 | 264,908 |
| Disposals, write-offs | 0 | -10,961 | -10,961 |
| Transfer to property, plant and equipment | 0 | -131,803 | -131,803 |
| Carrying amount | Balance at 31 Dec 2021 | Balance at 31 Dec 2022 |
|---|---|---|
| 11,256,486 | 4,273,747 | 15,530,233 |
| 11,256,486 | 4,067,582 | 15,324,068 |
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Long-term property rights and long-term deferred development costs | 759,814 | 870,086 | 841,090 | 942,603 |
| Total | 759,814 | 870,086 | 841,090 | 942,603 |
In the Company, the cost of the intangible assets in use, of which the carrying value as at 31 December 2023 equalled zero, is recorded at EUR 11,178,720 (2022: EUR 9,730,305). In the Group, such assets amounted to purchase price of EUR 11,608,190 as at 31 December 2023 (31 Dec 2022: EUR 10,159,536).
As at 31 December 2023, the Company/Group recorded commitments to purchase intangible assets in the amount of EUR 64,419, whereas at the previous year-end, there were no such commitments.
Intangible assets were not pledged as collateral as at 31 December 2023.
Intangible assets of the Company/Group include industrial property rights and other rights, as well as costs of development. Industrial property rights and other rights comprise computer software, information systems and development-related projects. Development costs recorded in the Group relate to the company TOC, d. o. o. in connection with the CAPSorb project (development of efficient ecological absorbents to control spills of all types of hydrophilic and hydrophobic hazardous and non-hazardous substances on hard and water surfaces).
| Industrial property and other rights | Intangible assets in acquisition | Total | |
|---|---|---|---|
| Cost | |||
| Balance at 31 Dec 2022 | 13,181,858 | 13,670 | 13,195,528 |
| Additions | 0 | 191,917 | 191,917 |
| Write-offs | -414,439 |
| Industrial property and other rights | Intangible assets in acquisition | Total | ||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 13,151,878 | 33,988 | 13,185,866 | |
| Transfer from property, plant and equipment | -414,439 | |||
| Transfer to property, plant and equipment | 33,938 | 5,609 | 39,547 | |
| Subsequent payments to a subsidiary - Decreases | -19,000 | -90,150 | -109,150 | |
| Balance at 31 Dec 2023 | 12,760,037 | 121,046 | 12,903,403 | |
| Allowances | Balance at 31 Dec 2022 | 12,325,442 | ||
| Depreciation | 247,390 | 247,390 | ||
| Write-offs | -414,439 | -414,439 | ||
| Transfer to property, plant and equipment | -19,000 | -19,000 | ||
| Subsequent payments to a subsidiary - Decreases | -18,124 | -18,124 | ||
| Balance at 31 Dec 2023 | 12,121,269 | 12,139,393 | ||
| Carrying amount | Balance at 31 Dec 2022 | 856,416 | 13,670 | 870,086 |
| Balance at 31 Dec 2023 | 638,768 | 121,046 | 759,814 |
| 0 | 12,241 | 12,241 | |
|---|---|---|---|
| Transfer from property, plant and equipment | 29,980 | 0 | 29,980 |
| Transfer to property, plant and equipment | 0 | -32,559 | -32,559 |
| Balance at 31 Dec 2022 | 13,181,858 | 13,670 | 13,195,528 |
| Balance at 31 Dec 2021 | 11,935,336 | 0 | 11,935,336 |
|---|---|---|---|
| Depreciation | 390,106 | 0 | 390,106 |
| Balance at 31 Dec 2022 | 12,325,442 | 0 | 12,325,442 |
| Balance at 31 Dec 2021 | 1,216,542 | 33,988 | 1,250,530 |
|---|---|---|---|
| Balance at 31 Dec 2022 | 856,416 | 13,670 | 870,086 |
| Development costs | Industrial property and other rights | Intangible assets in acquisition | Total | ||
|---|---|---|---|---|---|
| Cost | Balance at 31 Dec 2022 | 390,746 | 13,420,583 | 21,555 | 13,832,884 |
| Additions | 0 | 0 | 191,917 | 191,917 | |
| Transfer from investments in course of construction | 0 | 0 | 11,850 |
| Transfer from property, plant and equipment | 11,850 | |||
|---|---|---|---|---|
| Transfer to property, plant and equipment | 0 | |||
| Subsequent payments to a subsidiary - Increases | 0 | 0 | 4,196 | 4,196 |
| Subsequent payments to a subsidiary - Decreases | 0 | -22,320 | 0 | -22,320 |
| Balance at 31 Dec 2023 | 390,746 | 13,413,201 | 144,976 | 13,948,924 |
| Balance at 31 Dec 2022 | 390,746 | 12,499,535 | 0 | 12,890,281 |
|---|---|---|---|---|
| Depreciation | 0 | 254,679 | 0 | 254,679 |
| Transfer to property, plant and equipment | 0 | -19,000 | 0 | -19,000 |
| Subsequent payments to a subsidiary - Decreases | 0 | -18,124 | 0 | -18,124 |
| Balance at 31 Dec 2023 | 390,746 | 12,717,090 | 0 | 13,107,836 |
| Balance at 31 Dec 2022 | 0 | 921,048 | 21,555 | 942,603 |
|---|---|---|---|---|
| Balance at 31 Dec 2023 | 0 | 696,111 | 144,976 |
| Development costs | Industrial property and other rights | Intangible assets in acquisition | Total | |
|---|---|---|---|---|
| Cost | ||||
| Balance at 31 Dec 2021 | 390,746 | 13,390,603 | 41,873 | 13,823,222 |
| Additions | 0 | 0 | 12,241 | 12,241 |
| Transfer from property, plant and equipment | 0 | 29,980 | 0 | 29,980 |
| Transfer to property, plant and equipment | 0 | 0 | -32,559 | -32,559 |
| Balance at 31 Dec 2022 | 390,746 | 13,420,583 | 21,555 | 13,832,884 |
| Allowances | ||||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 351,672 | 12,099,375 | 0 | 12,451,047 |
| Depreciation | 39,074 | 400,160 | 0 | 439,234 |
| Balance at 31 Dec 2022 | 390,746 | 12,499,535 | 0 | 12,890,281 |
| Carrying amount | ||||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 39,074 | 1,291,228 | 41,873 | 1,372,175 |
| Balance at 31 Dec 2022 | 0 | 921,048 | 21,555 | 942,603 |
Investments in subsidiaries
Recorded only by the controlling company, investments in subsidiaries amounted to EUR 13,786,988 as at 31 December 2023 (31 Dec 2022: EUR 4,048,063).
As the sole shareholder of Adria Terminali, d. o .o., the controlling company made a subsequent contribution of EUR 11,514,699 as at 31 December 2023 using the Company's non-cash assets. Investment property with a carrying amount of EUR 7,531,523, property, plant and equipment with a carrying amount of EUR 2,203,205 and intangible assets with a carrying amount of EUR 4,196 were transferred. All fixed assets are located in the territory of the Sežana cadastral municipality. At the same time, the investment in the subsidiary Adria Investicije, d. o. o., with a carrying amount of EUR 1,775,775, was transferred. Since the transfer, the company is 100% owned by the subsidiary Adria Terminali, d. o. o.
Investments in subsidiaries are not pledged as collateral.
Detailed presentation of transactions with subsidiaries is provided in Note 31 ‘Related party transactions’.
| (in EUR) | 2023 | 2022 |
|---|---|---|
| Balance at 1 Jan | 4,048,063 | 4,048,063 |
| Increases | 11,514,699 | 0 |
| Increased investment due to subsequent payment | 1,775,775 | 0 |
| Transfer from property, plant and equipment, investment property, and intangible fixed assets | 9,738,924 | 0 |
| Decreases | -1,775,775 | 0 |
| Decreased investment due to subsequent payment | -1,775,775 | 0 |
| Balance at 31 Dec | 13,786,987 | 4,048,063 |
| Equity interest | Investments at 31 Dec 2023 | Equity at 31 Dec 2023 | Net sales revenue in 2023 | Net profit or loss for 2023 | No of employees 31 Dec 2023 |
|---|---|---|---|---|---|
| Luka Koper INPO, d. o. o. | 100% | 1,336,288 |
| Total | 13,786,988 | (in EUR) | ||||
|---|---|---|---|---|---|---|
| Equity interest | Investments at 31 Dec 2022 | Equity at 31 Dec 2022 | Net sales revenue in 2022 | Net profit or loss for 2022 | No of employees 31 Dec 2022 | |
| Luka Koper INPO, d. o. o. | 100% | 1,336,288 | 24,609,437 | 7,233,927 | 595,085 | 131 |
| Adria Terminali, d. o. o. | 100% | 226,000 | 1,881,124 | 3,689,583 | 521,901 | 27 |
| Adria Investicije, d. o. o. | 100% | 1,775,775 | 157,394 | 84,028 | 44,678 | 0 |
| Logis-Nova, d. o. o. | 100% | 710,000 | 706,893 | 23,420 | 14,071 | 0 |
| TOC, d. o. o. | 68.13% | 0 | 1,056,790 | 681,048 | 162,291 | 5 |
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Shares and interests in associates | 6,737,709 | 6,737,709 | 16,898,490 | 16,361,004 |
| Total | 6,737,709 | 6,737,709 | 16,898,490 | 16,361,004 |
The Company’s/Group’s shares and interests in associates are not pledged as collateral.
In 2023, there was no change in ownership of associates.
| 2023 | 2022 | |
|---|---|---|
| Balance at 1 Jan | 16,361,004 | 15,784,793 |
| Attributable profits | 1,780,357 | 1,734,286 |
| - Adria Transport, d. o. o. | 390,301 | 320,493 |
| - Adria Transport Croatia, d. o. o. | -40,664 | -43,913 |
| - Adria-Tow, d. o. o. | 860,256 | 926,723 |
| - Adriafin, d. o. o. | 103,943 | 44,245 |
| - Avtoservis, d. o. o. | 466,521 | 486,738 |
| Decreases | -9,889 | 0 |
| Shares of other comprehensive income of associated |
| Equity interest (in %) | Non-current assets | Current assets | Non-current liabilities | Current liabilities | Revenue | Net profit or loss | Profit or loss attributable to the Group | Other comprehensive income | Payment of previous year's profit belonging to the Group | No of employees |
|---|---|---|---|---|---|---|---|---|---|---|
| 50% | 8,468,608 | 4,633,557 | 2,245,707 | 2,997,412 | 13,733,320 |
| Equity interest | Non-current assets | Current assets | Non-current liabilities | |
|---|---|---|---|---|
| Adria Transport Croatia, d. o. o. | 780,602 | 390,301 | 776,425 | 160,246 |
| Adria-Tow, d. o. o. | 13,561,096 | 2,395,018 | 183,955 | 1,838,078 |
| Adriafin, d. o. o. | 8,083,348 | 2,290,413 | 0 | 17,067 |
| Avtoservis, d. o. o. | 649,583 | 3,180,012 | 0 | 955,545 |
| Total | 1,780,357 | 1,232,982 |
| Current liabilities | Revenue | Net profit or loss | Profit or loss attributable to the Group | Other comprehensive income | Payment of previous year's profit belonging to the Group | No of employees | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2022 | Adria Transport, d. o. o. | 50% | 9,216,069 | 4,006,734 | 2,850,857 | 2,968,831 | 11,181,147 | 640,985 | 320,493 | 665,361 | 200,000 | 43 |
| Adria Transport Croatia, d. o. o. | 50% | 3,150 | 271,814 | 250,050 | 3,133 | 0 | -87,826 | -43,914 | -87,826 | 0 | 0 | |
| Adria-Tow, d. o. o. | 50% | 9,051,180 | 4,969,678 | 191,537 | 514,779 | 8,000,763 | 1,853,446 | 926,723 | 1,859,768 | 315,000 | 36 | |
| Adriafin, d. o. o. | 50% | 8,074,302 | 2,186,051 | 0 | 23,056 | 91,066 | 88,490 |
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Other investments measured at fair value through profit or loss | 9,726,548 | 4,205,892 | 12,212,323 | 6,691,667 |
| Other investments measured at fair value through equity | 47,736,700 | 41,552,427 | 47,736,700 | 42,297,460 |
| Total | 57,463,248 | 45,758,319 | 59,949,023 | 48,989,127 |
Other non-current investments primarily comprise investments in securities and equity interests.
Other investments measured at fair value through equity consisted of an investment in shares of Krka, d. d. as at 31 December 2023 and investments in shares of Krka, d. d. and Intereuropa, d. d. as at the previous year-end. The sale of Intereuropa, d. d. shares was successfully completed in December 2023. Realised gains were recognised through retained earnings, amounting to EUR 1,452,366 in the Company and EUR 2,117,354 in the Group. The Company/Group previously measured the investment at cost and then reclassified it to equity-valued investments in 2014 (Note 27).
Other investments measured at fair value through profit or loss refer to investments in other companies, where the Company’s/Group’s equity interest is less than 20%, investments in mutual funds and two companies that are fully (100%) owned by the controlling company or subsidiary and are not consolidated due to insignificance within the Group.
In 2023, the Company/Group invested part of its surplus liquid assets of EUR 5,000,000 in a mutual fund and classified the investment as measured at fair value through profit or loss.
| 2023 | 2022 | |
|---|---|---|
| Balance at 1 Jan |
| 2023 | 2022 | |
|---|---|---|
| Balance at 1 Jan | 48,989,127 | 59,972,076 |
| Increases | ||
| Purchases | 5,000,000 | 0 |
| Revaluation to fair value through equity | 8,419,219 | 0 |
| Revaluation to fair value through profit or loss | 520,656 | 1,095,671 |
| Decreases | ||
| Sale | -2,979,979 | 0 |
| Revaluation to fair value through equity | 0 | -11,773,348 |
| Revaluation to fair value through profit or loss | 0 | -305,272 |
| Balance at 31 Dec | 59,949,023 | 48,989,127 |
As at 31 December 2023, inventories in the Company/Group were recorded at EUR 2,091,082 (2022: EUR 1,596,208). A larger portion thereof relates to maintenance material and spare parts, as well as to overhead-related material and auxiliary material.
(in EUR)
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Deposits and loans given | 30,000,000 | 1,717 | 30,000,000 | 1,717 |
| Treasury bills | 39,474,594 | 0 | 39,474,594 | 0 |
| Total | 69,474,594 | 1,717 | 69,474,594 | 1,717 |
During the reporting period, the Company/Group placed part of its surplus cash in short-term bank deposits and Treasury bills with the aim of generating higher finance income.
| Financial investments at amortised cost | Loans/deposits | Total | ||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 0 | 1,619 | 1,619 | |
| Increases | Transfer from non-current financial investments | 0 | 1,717 | 1,717 |
| Decreases | Repayments | 0 | -1,619 | -1,619 |
| Balance at 31 Dec 2022 | 0 | 1,717 | 1,717 | |
| Increases | New investments | 68,704,100 | 115,000,000 | 183,704,100 |
| Capitalised interest | 770,494 | 0 | 770,494 | |
| Decreases | Repayments received/investment realisation | -30,000,000 | -85,001,717 | -115,001,717 |
| Balance at 31 Dec 2023 | 39,474,594 | 30,000,000 | 69,474,594 |
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Current operating receivables: | ||||
| domestic market | 23,990,403 | 29,409,231 | 24,976,227 | 30,189,532 |
| foreign markets | 25,376,870 | 21,646,631 | 25,492,610 | 21,800,778 |
| Current operating receivables due from Group companies | 520,140 | 568,139 | 0 | 0 |
| Current operating receivables due from associates | 328,794 | 413,994 | 328,794 | 413,994 |
| Current trade receivables | 50,216,207 | 52,037,995 | 50,797,631 | 52,404,304 |
| Current dividend receivables | 554,151 | 0 | 554,151 | 0 |
| Advances and collaterals given | 77,328 | 86,991 | 79,800 | 87,616 |
| Current receivables related to finance income | 79,964 | 6,385 | 116,707 | 12,410 |
| Receivables due from the state | 3,491,566 | 3,467,266 | 3,668,360 | 3,608,808 |
| Other current receivables | 1,040,004 | 203,473 | 1,205,365 | 237,797 |
| Trade receivables | 55,459,220 | 55,802,110 | 56,422,014 | 56,350,935 |
| Current deferred costs and expenses | 3,708,335 | 3,544,481 | 3,715,779 |
The value of trade and other receivables in the Company was EUR 59,393,154, the same level as the previous year-end. The Group had trade and other receivables of EUR 60,363,391 as at 31 December 2023, which is also at the level of the balance on the last day of the previous year.
With most trade receivables, the Company/Group has an option to enforce a legal lien over the stored goods in its possession. The Company/Group has a permanent insurance policy covering the major part of its short-term trade receivables from customers incurred in the controlling company from 1 January 2023 and of the subsidiary Adria Terminali, d. o. o. from 1 April 2023. As at 31 December 2023, 78.7% of the Company's outstanding short-term trade receivables from customers are secured by a trade receivables insurance policy, 12.5% are covered by bank guarantees or cash collateral, and 8.8% of short-term trade receivables from customers are unsecured. The policyholder's excess is 5.0%.
As at 31 December 2023, the Company/Group recorded no receivables from Members of the Management Board or the Supervisory Board.
Other receivables recorded by the Company/Group include short-term accrued income, which refer to income arising on expenses for European development projects, co-financed by European institutions, and short-term deferred costs. In 2019, the controlling company received from the Financial Administration of the Republic of Slovenia a notice regarding the assessment of corporate income tax for 2017 amounting to EUR 3,058,642, and settled the obligation. The liability was presented under current deferred costs since the Company appealed the tax notice. Pursuant to IFRIC 23 – Uncertainty over Income Tax Treatments, the Company/Group formed a liability for the payment of corporate income tax due to the uncertainty regarding the decision of the state authorities in relation to the said appeal.
| 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|
| Gross value | 45,662,661 | 47,764,501 |
| Allowances | -145,044 | -189,119 |
| Net value | 45,517,617 | 47,575,382 |
| Outstanding and undue trade receivables | 5,158,564 | 5,389,535 |
| Past due trade receivables | -459,974 | -926,922 |
| Net value | 4,698,590 | 4,462,613 |
| up to 30 days | 4,156,037 | -43,475 | 4,112,562 |
|---|---|---|---|
| 3,377,788 | -35,409 | 3,342,379 | |
| 31 to 60 days | 511,412 | -48,934 | 462,478 |
| 590,043 | -63,243 | 526,800 | |
| 61 to 90 days | 61,578 | -13,362 | 48,216 |
| 524,158 | -106,696 | 417,462 | |
| 91 to 180 days | 94,513 | -38,215 | 56,298 |
| 217,437 | -78,575 | 138,862 | |
| more than 181 days | 335,024 | -315,988 | 19,036 |
| 680,109 | -642,999 | 37,110 | |
| Total | 50,821,225 | -605,018 | 50,216,207 |
| 53,154,036 | -1,116,041 | 52,037,995 |
Note: the amount comprises trade receivables and receivables due from subsidiaries and associates.
| Gross value | Allowances | Net value | ||
|---|---|---|---|---|
| Outstanding and undue trade receivables | 45,647,116 | -147,614 | 45,499,502 | |
| 47,885,008 | -192,045 | 47,692,963 | ||
| Past due trade receivables | 5,602,338 | -477,932 | 5,124,406 |
| 2023 | 2022 | ||
|---|---|---|---|
| Balance at 1 Jan | 1,116,041 | 1,074,261 | |
| Increase: | Formation of allowances in the year | 113,463 | 347,413 |
| Transfer upon liquidation of Luka Koper Pristan |
| Total | 5,653,064 | -941,723 | 4,711,341 | |
|---|---|---|---|---|
| Of which overdue: | up to 30 days | 4,485,383 | -47,236 | 4,438,147 |
| 3,575,096 | -37,426 | 3,537,670 | ||
| 31 to 60 days | 619,937 | -59,802 | 560,135 | |
| 644,934 | -68,856 | 576,078 | ||
| 61 to 90 days | 69,525 | -14,920 | 54,605 | |
| 530,858 | -107,967 | 422,891 | ||
| 91 to 180 days | 96,024 | -38,555 | 57,469 | |
| 221,369 | -79,081 | 142,288 | ||
| more than 181 days | 331,469 | -317,419 | 14,050 | |
| 680,807 | -648,393 | 32,414 | ||
| Total | 51,249,454 | -625,546 | 50,623,908 | |
| 53,538,072 | -1,133,768 | 52,404,304 |
Note: the amount comprises trade receivables and receivables due from associates.
| Year | 2023 | 2022 | |
|---|---|---|---|
| Balance at 1 Jan | 1,133,768 | 1,373,470 | |
| Increase: | Formation of allowances in the year | 124,571 | 356,681 |
| Transfer from assets held for sale - Luka Koper Pristan | 0 | 92,077 | |
| Decrease: | Collected receivables | -549,033 | -394,907 |
| Definitive write-off (elimination) of receivables | -83,761 | -293,553 | |
| Balance at 31 Dec | 625,546 | 1,133,768 |
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Cash in hand | 224 | 228 | 19,685 | 18,403 |
| Bank balances | 23,282,574 | 19,091,183 | 33,629,292 | 20,746,563 |
| Short-term deposits at call | 30,000,000 | 50,004,250 | 47,980,000 | 73,984,250 |
| Total | 53,282,798 | 69,095,661 | 81,628,977 | 94,749,216 |
Share capital in the amount of EUR 58,420,965 consists of 14,000,000 shares of the controlling company Luka Koper, d. d. that are freely transferable. The nominal value of a share is EUR 4.17.
The ownership structure, the movement of the share price and the dividend policy are outlined in detail in the Business Report of the Luka Koper Group, Chapter 15, ‘The LKPG Share’.
The Company/Group records legal reserves in the amount of at least 10% of share capital as required by the Companies Act (ZGD-1). Legal reserves, share premium and other revenue reserves are not included in the accumulated profit and are not subject to distribution. The Company/Group has no statutory reserves, as they are not envisaged under its articles of association. Pursuant to Article 230 (3) of the Companies Act, at the year-end of 2023, the controlling company formed additional other revenue reserves in the amount of a half of net profit or loss, which equalled EUR 27,225,011.
| (in EUR) | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|
| Share premium | 89,562,703 | 89,562,703 |
| Legal reserves | 18,765,115 | 18,765,115 |
| Other revenue reserves | 270,000,708 | 242,775,697 |
| Total | 378,328,526 | 351,103,515 |
At the year-end of 2023, reserves arising on valuation at fair value with respect to the valuation of investments measured at fair value through equity and with respect to unrealised actuarial gains and losses, amounted to EUR 31,975,786 in the Company, and EUR 31,736,420 in the Group. After deducting deferred taxes, they are recorded at EUR 24,719,356 and EUR 24,501,725 respectively.
Retained earnings consist of the unappropriated portion of the net profit for the period, which as at 31 December 2023 amounted to EUR 27,225,011 in the Company and EUR 29,168,638 in the Group, and net profit brought forward that was recorded at EUR 16,653,542 and EUR 52,296,092 respectively.
In 2023, the Management and Supervisory Board proposed to the Shareholders’ Meeting to appropriate the accumulated profit, which as at 31 December 2022 amounted to EUR 50,229,863.96, as follows:
During the 37th Shareholders’ Meeting of Luka Koper, d. d. on 28 June 2023, the proposal for the division of the accumulated profit was voted through.
The statement of accumulated profit for the financial year 2023 is provided in Section 32, ‘Statement of accumulated profit’.
| (in EUR) | Luka Koper, d. d. | Luka Koper Group |
|---|---|---|
| 31 Dec 2023 | 10,763,083 | 11,537,468 |
| 31 Dec 2022 | 8,955,719 |
| 9,644,931 | 12,075,018 | 11,392,779 | 12,075,018 | 11,392,779 |
|---|---|---|---|---|
| Total | 22,838,101 | 20,348,498 | 23,612,486 | 21,037,710 |
Provisions for pensions and similar liabilities are composed of provisions for termination benefits and jubilee premiums as well as the post-employment benefits plan (one-off payment on retirement).
As at 31 December 2023, the Company/Group recorded EUR 3,657,301 liabilities under post-employment benefits. Based on actuarial calculation, in the Company, the unrealised actuarial gain from the current and preceding year with respect to termination benefits amounting to EUR 280,760 was recorded in other comprehensive income, whereas the Group recorded EUR 331,085 of actuarial gain. The Company/Group recognised in the income statement the current and past service cost with respect to termination benefits and jubilee premiums in the amount of EUR 621,188 in the Company, and EUR 679,524 in the Group, and the interest cost amounting to EUR 225,585, and EUR 249,302 respectively. In 2023, payments under jubilee premiums and termination benefits amounted to EUR 183,217 in the Company, and EUR 246,402 in the Group.
On 31 December 2023, provisions for lawsuits in the Company/Group were higher by EUR 682,239, which is the net effect of the drawn down and additionally created provisions for legal liabilities in 2023. The Company/Group records a number of different lawsuits for which, in accordance with Article 92 of IAS 37 - Provisions, Contingent Liabilities and Contingent Assets, it does not disclose information because disclosure would result in a judgement on the position of the Company's/Group in disputes with other parties. The balance of provisions as at 31 December 2023 reflects the Management's best estimate of the status of litigation in connection with lawsuits received. Actual future liabilities of the Company/Group under this heading may deviate from current estimates, both positively and negatively.
| Actuarial assumption | Change in item * | (percentage points) | Change in the present value of the liability for (in EUR) |
|---|---|---|---|
| Jubilee awards as at 31 Dec 2023 | Rate of return | +0.5 | -58,039 |
| Rate of return | -0.5 | 62,441 | |
| Termination benefits as at 31 Dec 2023 | Rate of return | +0.5 | -330,817 |
| Rate of return | -0.5 | 361,877 | |
| Jubilee awards as at 31 Dec 2022 | Salary growth | +0.5 | 64,220 |
| Salary growth | -0.5 | -60,122 | |
| Termination benefits as at 31 Dec 2022 | Salary growth | +0.5 | 362,354 |
| Salary growth | -0.5 | -331,964 |
| Actuarial assumption | Change in item * (percentage points) | Change in the present value of the liability for (in EUR) | Jubilee awards as at 31 Dec 2023 | Jubilee awards as at 31 Dec 2022 | Termination benefits as at 31 Dec 2023 | Termination benefits as at 31 Dec 2022 |
|---|---|---|---|---|---|---|
| Rate of return | +0.5 | -61,727 | -49,534 | -352,857 | -294,975 | |
| -0.5 | 66,379 | 53,181 | 385,662 | 324,237 | ||
| Salary growth | +0.5 | 68,307 | 55,294 | 386,031 | 325,579 | |
| -0.5 | -63,979 | -51,840 | -353,954 | -298,123 | ||
| Fluctuation | +0.5 | -64,248 | -51,834 | -366,483 | -310,069 | |
| -0.5 | 50,643 | 41,026 | 170,071 | 144,361 |
| Luka Koper, d. d. | Luka Koper Group | Total jubilee premiums | Termination benefits |
|---|---|---|---|
| jubilee premiums | Termination benefits | Total Luka Koper Group | ||
|---|---|---|---|---|
| Amount of present value of commitments at 31 Dec 2021 | 811,713 | 4,616,315 | 5,428,028 | |
| 868,626 | 5,163,351 | 6,031,977 | ||
| Interest costs | 6,861 | 39,983 | 46,845 | |
| 7,332 | 44,535 | 51,867 | ||
| Ongoing service costs | 166,324 | 624,907 | 791,231 | |
| 176,971 | 682,441 | 859,412 | ||
| Past service costs | -3,028 | -6,059 | -9,087 | |
| 4,853 | 23,578 | 28,431 | ||
| Actuarial gains (-) and losses (+) – movement in actuarial assumptions and experience | 152,564 | -132,178 | 20,386 | |
| 166,853 | -91,045 | 75,808 | ||
| Actuarial gains – reversal | -9,822 | -53,020 | -62,842 | |
| -10,446 | -57,599 | -68,045 | ||
| Actuarial losses – formation and use | 689 | 10,222 | 10,911 | |
| 689 | 16,507 | 17,196 | ||
| Liabilities for earnings in the period 1 Jan 2022 - 31 Dec 2022 | -42,548 |
| -154,685 | -197,232 | -48,443 | -230,751 | -279,194 | |
|---|---|---|---|---|---|
| 1,082,754 | 4,945,486 | 6,028,240 | 1,166,435 | 5,551,017 | 6,717,452 |
| 39,618 | 185,967 | 225,585 | 42,512 | 206,790 | 249,302 |
|---|---|---|---|---|---|
| 150,588 | 461,689 | 612,277 | 160,493 | 512,843 | 673,336 |
|---|---|---|---|---|---|
| -352 | 9,263 | 8,911 | 693 | 5,495 | 6,188 |
|---|---|---|---|---|---|
| 146,566 | 331,058 | 477,624 | 162,744 | 378,326 | 541,070 |
|---|---|---|---|---|---|
| -13,447 | -58,419 | -71,866 | -13,646 | -63,577 | -77,223 |
|---|---|---|---|---|---|
| 109 | 8,121 | 8,230 | 109 | 16,337 | 16,445 |
|---|---|---|---|---|---|
| -61,839 | -121,378 | -183,217 | -70,822 | -175,580 | -246,402 |
|---|---|---|---|---|---|
1,343,996
5,761,787
7,105,783
1,448,518
6,431,650
7,880,168
| Luka Koper, d. d. | Luka Koper Group | |
|---|---|---|
| Total jubilee premiums | 138,473 | 147,770 |
| Termination benefits | 458,544 | 488,786 |
| Total | 597,018 | 636,556 |
| Actuarial gains or losses from changes in assumptions | 138,473 | 147,770 |
| Actuarial gains or losses from experience adjustments | -5,246 | 1,437 |
| Total actuarial gains (-) and losses (+) in the period | 133,227 | 149,207 |
| Luka Koper, d. d. | Luka Koper Group | |
|---|---|---|
| Total jubilee premiums | ||
| Termination benefits | ||
| Total |
| Luka Koper, d. d. | Total jubilee premiums | Termination benefits | Total Luka Koper Group | |||
|---|---|---|---|---|---|---|
| 2024 | 2025 | 2024 | 2025 | |||
| 72,530 | 83,922 | 526,644 | 249,196 | 599,174 | ||
| 82,896 | 95,623 | 724,996 |
| Total | Luka Koper Group |
|---|---|
| -213,674 | -1,545,703 |
| -1,759,376 | -225,376 |
| -1,624,855 | -1,850,231 |
| Total | Luka Koper Group |
|---|---|
| 357,105 | 1,370,726 |
| 1,727,831 | 382,472 |
| 1,492,718 | 1,875,190 |
| Total | Luka Koper Group |
|---|---|
| 143,431 | -174,977 |
| -31,545 | 157,096 |
| -132,137 | 24,959 |
| Year | Total jubilee premiums | Termination benefits | Total Luka Koper, d. d. | Total jubilee premiums | Termination benefits | Total Luka Koper Group |
|---|---|---|---|---|---|---|
| 2023 | 51,011 | 412,270 | 463,281 | 58,873 | 583,196 | 642,069 |
| 2024 |
| 2026 | 2027 | 2028 | |
|---|---|---|---|
| Total actuarial gains (-) and losses (+) in the period | 1,343,996 | 1,448,518 | |
| 5,761,787 | 6,431,650 | ||
| 7,105,783 | 7,880,168 |
| 1. Termination benefits | 2. Jubilee premiums | 3. Post-employment benefits plan | Total benefits (1, 2 and 3) | Claims and damages | Total |
|---|---|---|---|---|---|
| 4,616,315 | 811,713 | 2,356,603 | 7,784,631 | 11,366,109 | 19,150,740 |
| Year | Gains/Losses |
|---|---|
| 2025 | 724,095 |
| 2026 | 72,689 |
| 2027 | 98,710 |
| Over 5 years | 1,082,754 |
| 536,875 | 323,411 | 1,048,575 | 1,908,861 | 75,665 | 1,984,526 |
|---|---|---|---|---|---|
| 0 | 0 | -63,495 | -63,495 | 0 | -63,495 |
|---|---|---|---|---|---|
| -154,685 | -42,548 | -414,203 | -611,436 | -46,020 | -657,456 |
|---|---|---|---|---|---|
| -53,020 | -9,822 | 0 | -62,842 | -2,975 | -65,817 |
|---|---|---|---|---|---|
| 4,945,485 | 1,082,754 | 2,927,480 | 8,955,719 | 11,392,779 | 20,348,498 |
|---|---|---|---|---|---|
| 996,098 | 336,528 | 1,118,810 | 2,451,436 | 2,864,406 | 5,315,842 |
|---|---|---|---|---|---|
| 0 | 0 | -46,465 | -46,465 | 0 | -46,465 |
|---|---|---|---|---|---|
| -121,378 | -61,839 | -342,524 | -525,741 | -524,382 | -1,050,123 |
|---|---|---|---|---|---|
| -58,419 | -13,447 | 0 | -71,866 | -1,657,785 | -1,729,651 |
|---|---|---|---|---|---|
| 1. Termination benefits | 2. Jubilee premiums | 3. Post-employment benefits plan | Total benefits (1, 2 and 3) | Claims and damages | Total | ||
|---|---|---|---|---|---|---|---|
| Balance at 31 Dec 2021 | 5,163,351 | 868,626 | 2,356,603 | 8,388,580 | 11,366,109 | 19,754,689 | |
| Movement: | Formation | 676,016 | 356,697 | 1,048,575 | 2,081,288 | 75,665 | 2,156,953 |
| Use | -230,751 | -48,443 | -477,698 | -756,892 | -46,020 | -802,912 | |
| Reversal | -57,599 | -10,446 | 0 | -68,045 | -2,975 | -71,020 | |
| Balance at 31 Dec 2022 | 5,551,017 | 1,166,434 | 2,927,480 | 9,644,931 | 11,392,779 | 21,037,710 | |
| Movement: | Formation | 1,119,790 | 366,550 | 1,118,810 | 2,605,150 | 2,864,406 | 5,469,556 |
| Use |
| (in EUR) | Luka Koper, d. d. | Luka Koper Group | ||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Non-current deferred income for regular maintenance | 25,007,424 | 24,341,825 | 25,007,424 | 24,341,825 |
| Non-refundable grants received | 8,951,056 | 6,935,850 | 8,967,395 | 7,026,485 |
| Other non-current deferred income | 0 | 0 | 984,303 | 1,038,081 |
| Total | 33,958,480 | 31,277,675 | 34,959,122 | 32,406,391 |
Non-current deferred income of the Company/Group comprises deferred income on regular maintenance since in compliance with the Concession Agreement, the controlling company Luka Koper, d. d., has the right and obligation to collect port dues, which is income intended to cover the costs of performing public utility services. With respect to any annual surplus of revenue over costs, the controlling company forms non-current deferred income for covering the costs of public utility services relating to regular maintenance of the port infrastructure in the coming years. In the event that costs exceeded the revenue, the controlling company would be utilising non-current deferred income.
The grants received primarily comprise payments received with respect to non-refundable funds for investment into EU development projects which are recorded by the controlling company and are utilised in accord with their useful life. Under non-refundable funds received, the Group also records retained contributions on salaries of employees of the Luka Koper INPO, d. o. o sheltered workshop, i.e., contributions to insurance schemes for retirement pension, disability, sickness, and maternity. The assets were used in compliance with the Vocational Rehabilitation and Employment of Disabled Persons Act for covering 75% of wages for disabled persons and labour costs for the staff for the time spent assisting the disabled persons.
| Non-current deferred income for regular maintenance | Non-refundable grants received | Total | ||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 21,642,989 | 7,235,652 | 28,878,641 | |
| Movement: | Formation | 2,698,836 | 64,559 | 2,763,395 |
| Transfer to other liabilities | 0 | -812 | -812 | |
| Use | 0 | -363,549 | -363,549 | |
| Balance at 31 Dec 2022 | 24,341,825 | 6,935,850 | 31,277,675 | |
| Movement: | Formation | 665,599 | 0 | 665,599 |
| Transfer from other liabilities | 0 | 2,851,049 | 2,851,049 | |
| Use | 0 | -835,843 | -835,843 | |
| Balance at 31 Dec 2023 | 25,007,424 | 8,951,056 | 33,958,480 |
| Non-current deferred income for regular maintenance | Non-refundable grants received | Other non-current deferred income | Total | |
|---|---|---|---|---|
| Balance at 31 Dec 2021 | 21,642,989 | 7,376,030 | 1,118,357 | 30,137,376 |
| 2,698,836 | 1,636,840 | 0 | 4,335,676 | |
|---|---|---|---|---|
| Transfer to other liabilities | 0 | -812 | 0 | -812 |
| Use | 0 | -1,985,573 | -80,276 | -2,065,849 |
| Balance at 31 Dec 2022 | 24,341,825 | 7,026,485 | 1,038,081 | 32,406,391 |
| 665,599 | 1,751,267 | 29,417 | 2,446,283 | |
|---|---|---|---|---|
| Transfer from other liabilities | 0 | 2,851,049 | 0 | 2,851,049 |
| Use | 0 | -2,661,406 | -83,195 | -2,744,601 |
| Balance at 31 Dec 2023 | 25,007,424 | 8,967,395 | 984,303 | 34,959,122 |
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Non-current borrowings from banks in Slovenia | 93,979,370 | 54,315,463 | 93,979,370 | 54,315,463 |
| Total | 93,979,370 | 54,315,463 | 93,979,370 | 54,315,463 |
Non-current loans received are wholly attributable to the controlling company only, and therefore all notes and movements below are presented together as if they were attributable to the Company/Group.
The Company/Group transferred the portion of the loans due within one year to current borrowings. All non-current borrowings from banks are being repaid following the predefined repayment schedule. All liabilities under non-current borrowings from banks are collateralised with blank bills of exchange and financial covenants. The Company/Group has been able to meet in full its financial commitments arising from loan agreements with banks.
The controlling company, Luka Koper, d. d., has concluded a non-current loan agreement with the subsidiary Luka Koper INPO, d. o. o., in the total amount of EUR 20,000,000, which have not yet been drawn down as of 31 December 2023.
| Lender | Banks | Total |
|---|---|---|
| Balance at 31 Dec 2021 | 60,688,522 | 60,688,522 |
| New borrowings | 36,100,000 | 36,100,000 |
| Repayments | -12,250,000 | -12,250,000 |
| Transfer to current borrowings – the portion that matures within 1 year | -30,223,059 | -30,223,059 |
| Balance at 31 Dec 2022 | 54,315,463 | 54,315,463 |
| New borrowings | 60,000,000 | 60,000,000 |
| Repayments | -5,142,857 | -5,142,857 |
| Transfer to current borrowings – the portion that matures within 1 year | -15,193,235 | -15,193,235 |
| Balance at 31 Dec 2023 | 93,979,370 | 93,979,370 |
| Currency of loan | Interest rate | Date of maturity | Approved principal amount | Principal at 31 Dec 2023 | |
|---|---|---|---|---|---|
| Loans A | EUR | from 0.440 to 0.850 | from 31 Dec 2028 to 31 Dec 2031 | 123,716,356 | 78,487,606 |
| Loans B | EUR | Euribor3m + 0.320 | to 30 Apr 2032 | 36,100,000 |
| Total | 30,685,000 |
|---|---|
| Balance at 31 December 2022 (in EUR) | 159,816,356 |
| - whereof current portion | 109,172,606 |
| 15,193,235 |
| Currency of loan | Interest rate | Date of maturity | Approved principal amount | Principal at 31 Dec 2022 | |
|---|---|---|---|---|---|
| Loans A | EUR | from 0.440 to 0.850 | from 31 Dec 2028 to 31 Dec 2031 | 123,716,356 | 28,356,555 |
| Loans B | EUR | Euribor3m + 0.320 | to 30 Apr 2032 | 36,100,000 | 34,295,000 |
| Total | 159,816,356 |
|---|---|
| 62,651,555 | - whereof current portion |
| 8,336,093 |
| Period | Principal at 31 Dec 2023 |
|---|---|
| 2024 | 15,193,235 |
| 2025 | 15,193,236 |
| 2026 | 15,193,235 |
| 2027 | 15,193,235 |
| 2028 | 15,193,235 |
| 2029–2032 | 33,206,429 |
| Year | Expected interest |
|---|---|
| 2024 | 7,081,971 |
| 2025 | 1,638,694 |
| 2026 | 1,429,189 |
| 2027 | 1,203,081 |
| 2028 | 976,974 |
| 2029 | 753,116 |
| 2030 | 1,080,917 |
| Principal at | 31 Dec 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | Period | 2028–2032 |
|---|---|---|---|---|---|---|---|---|
| Balance of received loan principals by maturity | 62,651,555 | 8,336,093 | 8,336,093 | 8,336,093 | 8,336,093 | 8,336,093 | 20,971,092 | |
| Expected interest | 4,894,581 | 1,055,802 | 925,408 | 789,725 | 656,687 | 523,649 | 943,309 | |
| Total | 67,546,137 | 9,391,895 | 9,261,501 | 9,125,818 | 8,992,779 | 8,859,741 | 21,914,402 |
| Luka Koper, d. d. | Luka Koper Group | |||||||
|---|---|---|---|---|---|---|---|---|
| Receivables | Liabilities | Receivables | Liabilities | 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Deferred tax assets and deferred tax liabilities relating to: | - impairment of investments in subsidiaries | 301,528 |
| Impairment of other investments and deductible temporary differences arising on securities | 3,326,454 | 8,740,460 | 7,424,965 | 5,125,034 | 3,326,454 | 8,761,627 | 7,424,965 | 5,215,116 | |
|---|---|---|---|---|---|---|---|---|---|
| Allowances for trade receivables | 170,167 | 244,056 | 0 | 0 | 174,683 | 247,424 | 0 | 0 | |
| Provisions for termination benefits | 412,324 | 423,855 | 0 | 0 | 451,917 | 468,598 | 0 | 0 | |
| Provisions for jubilee premiums | 67,196 | 73,071 | 0 | 0 | 71,190 | 77,918 | 0 | 0 | |
| Provisions for legal disputes | 12,921 | 11,159 | 0 | 0 | 12,921 | 11,159 | 0 | 0 | |
| Non-current accrued costs and deferred income for public utility service | 525,665 | 453,983 | 0 | 0 | 525,665 | 453,983 |
| Total | 4,816,255 | 10,245,146 | 7,424,965 | 5,125,034 | 4,864,358 | 10,319,271 | 7,424,965 | 5,215,116 |
|---|---|---|---|---|---|---|---|---|
| Off-set with deferred tax liabilities relating to impairment of other investments and deductible temporary differences arising on securities | -4,816,255 | -5,125,034 | -4,816,255 | -5,125,034 | -4,864,358 | -5,215,116 | -4,864,358 | -5,215,116 |
| Total | 0 | 5,120,112 | 2,608,710 | 0 | 0 | 5,104,155 | 2,560,607 | 0 |
Deferred tax assets comprise deductible temporary differences arising on securities, non-current investments, impairment of receivables, provisions for retirement benefits and jubilee premiums, lawsuits, and deferred income from public utility service. Deferred tax liabilities are taxable temporary differences arising on the fair value revaluation of shares. The bases from which deferred taxes are formed do not have a limited term of validity.
Within deferred taxes, the Group also records deferred taxes relating to impairment of investments in subsidiaries, which due to being a tax item of the controlling company, is not excluded. They are formed for the subsidiaries that have been defined as non-strategic for the Company and are also subject to various types of withdrawal or disinvestment.
The largest decrease can be seen in the item impairment of other investments and deductible temporary differences arising on securities, namely from the realisation of deferred tax receivables on the sale of the investment in the shares of Intereuropa, d. d.
With the adoption of the Act on Reconstruction, Development and Provision of Financial Resources (ZORZFS) in December 2023, an increased tax rate of 22% was confirmed for the period from 2024 to 2028 inclusive. As a result, the Company/Group has restated deferred tax assets and liabilities as it expects them to be realised in the period, except for the provision for termination and jubilee benefits, which is expected to be realised over a longer time frame.
| Balance at 31 Dec 2023 | Balance at 31 Dec 2022 | Recognised in the Statement of Other Comprehensive Income |
|---|---|---|
| Deferred tax assets and deferred tax liabilities relating to: | ||
| - impairment of investments in subsidiaries | 298,562 | 2,966 |
| 0 | 301,528 | |
| - impairment of other investments and deductible temporary differences arising on securities | 8,740,460 | -5,414,006 |
| 0 | 3,326,454 | |
| 5,125,034 | 2,299,931 | |
| 7,424,965 | ||
| - allowances for trade receivables | 244,056 | -73,890 |
| 0 | 170,166 | |
| - provisions for termination benefits | 423,855 | -35,478 |
| 23,947 | 412,325 | |
| - provisions for jubilee premiums | 73,071 | -5,875 |
| 0 | 67,196 | |
| - provisions for legal disputes | 11,159 | 1,762 |
| 0 | 12,921 |
| Receivables | Liabilities | |||
|---|---|---|---|---|
| Balance at 31 Dec 2021 | Recognised in the income statement | Recognised in the statement of other comprehensive income | Balance at 31 Dec 2022 | |
| Balance at 31 Dec 2021 | Recognised in the statement of other comprehensive income | Balance at 31 Dec 2022 | ||
| - non-current accrued costs and deferred income for public utility service | 453,983 | 71,682 | 0 | 525,665 |
| Total | 10,245,146 | -5,452,839 | 23,947 | 4,816,255 |
| Off-set with deferred tax liabilities relating to impairment of other investments and deductible temporary differences arising on securities | -5,125,034 | 0 | 308,779 | -4,816,255 |
| Deferred tax assets in the Company’s statement of financial position | 5,120,112 | -5,452,839 | 332,726 | 0 |
| 0 | 2,608,710 | 2,608,710 |
| Item | Value 1 | Value 2 | Value 3 | Value 4 | Value 5 | Value 6 |
|---|---|---|---|---|---|---|
| Impairment of investments in subsidiaries | 509,689 | -211,127 | 0 | 298,562 | 0 | 0 |
| Impairment of other investments and deductible temporary differences arising on securities | 8,740,582 | -122 | 0 | 8,740,460 | 7,332,723 | -2,207,688 |
| Allowances for trade receivables | 236,118 | 7,938 | 0 | 244,056 | 0 | 0 |
| Provisions for termination benefits | 438,550 | 5,307 | -20,002 | 423,856 | 0 | 0 |
| Provisions for jubilee premiums | 77,113 | -4,042 | 0 | 73,071 | 0 | 0 |
| Provisions for legal disputes | 0 | 11,159 | 0 | 11,159 | 0 | 0 |
| Non-current accrued costs and deferred income for public utility service | 453,983 | 0 | 0 | 453,983 | 0 | 0 |
| Total | 10,456,035 | -190,887 | -20,002 | 10,245,147 | 7,332,723 | -2,207,688 |
Off-set with deferred tax liabilities relating to impairment of other investments and deductible temporary differences arising on securities
| Receivables | Liabilities | Balance at 31 Dec 2022 | Recognised in the income statement | Recognised in the statement of other comprehensive income | Balance at 31 Dec 2023 |
|---|---|---|---|---|---|
| Deferred tax assets and deferred tax liabilities relating to: | - impairment of investments in subsidiaries | 298,562 | 2,966 | 0 | 301,528 |
| - impairment of other investments and deductible temporary differences arising on securities | 8,761,627 | -5,435,173 | 0 | 3,326,454 | |
| 5,215,115 |
| Allowances for trade receivables | 2,209,849 | 7,424,964 |
|---|---|---|
| - allowances for trade receivables | 247,424 | -72,742 |
| 0 | 174,682 | 0 |
| 0 | 0 | 0 |
| - provisions for termination benefits | 468,598 | -42,937 |
| 26,257 | 451,918 | 0 |
| 0 | 0 | 0 |
| - provisions for jubilee premiums | 77,918 | -6,728 |
| 0 | 71,190 | 0 |
| 0 | 0 | 0 |
| - provisions for legal disputes | 11,159 | 1,762 |
| 0 | 12,921 | |
| - non-current accrued costs and deferred income for public utility service | 453,983 | 71,682 |
| 0 | 525,665 | 0 |
| 0 | 0 | 0 |
| Total | 10,319,271 | -5,481,170 |
| 26,257 | 4,864,358 | 5,215,115 |
| 2,209,849 | 7,424,964 | |
| Off-set with deferred tax liabilities relating to impairment of other investments and deductible temporary differences arising on securities | -5,215,116 | 0 |
| 350,758 | -4,864,358 | -5,215,115 |
| 350,758 | -4,864,357 | |
| Deferred tax assets in the Group’s statement of financial position | 5,104,155 | -5,481,170 |
| 377,015 | 0 | 0 |
| 2,560,607 | 2,560,607 |
| Receivables | Liabilities | Balance at 31 Dec 2021 | Recognised in the income statement | Recognised in the statement of other comprehensive income | Balance at 31 Dec 2022 |
|---|---|---|---|---|---|
| Deferred tax assets and deferred tax liabilities relating to: | - impairment of investments in subsidiaries | 509,689 | -211,127 | 0 | 298,562 |
| - impairment of other investments and deductible temporary differences arising on securities | 8,761,750 | -122 | 0 | 8,761,628 | |
| 7,452,050 | -2,236,934 | 5,215,116 | |||
| - allowances for trade receivables | 292,968 | -45,544 | 0 | 247,424 | |
| - provisions for termination benefits | 490,518 | -4,072 | -17,848 | 468,598 | |
| - provisions for jubilee premiums | 82,520 | -4,602 |
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Current borrowings from banks in Slovenia | 15,193,235 | 8,336,093 | 15,193,235 | 8,336,093 |
| Total | 15,193,235 | 8,336,093 |
| Amount | Adjustment | Final Amount | |
|---|---|---|---|
| Provisions for legal disputes | 77,918 | 0 | 0 |
| Non-current accrued costs and deferred income for public utility service | 453,983 | 0 | 0 |
| Total | 10,591,428 | -254,308 | -17,848 |
| Off-set with deferred tax liabilities relating to impairment of other investments and deductible temporary differences arising on securities | -7,452,051 | 0 | 2,236,934 |
| Deferred tax assets in the Group’s statement of financial position | 3,139,377 | -254,308 | 2,219,086 |
| Lender | Banks | Total |
|---|---|---|
| Balance at 31 Dec 2021 | 10,521,175 | 10,521,175 |
| Repayments | -32,408,143 | -32,408,143 |
| Transfer from non-current borrowings – the portion that matures within 1 year | 30,223,061 | 30,223,061 |
| Balance at 31 Dec 2022 | 8,336,093 | 8,336,093 |
| Repayments | -8,336,093 | -8,336,093 |
| Transfer from non-current borrowings – the portion that matures within 1 year | 15,193,235 | 15,193,235 |
| Balance at 31 Dec 2023 | 15,193,235 | 15,193,235 |
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
|---|---|---|---|---|
| Current trade payables to domestic suppliers | 29,761,821 | 27,630,541 | 30,292,892 | 28,308,157 |
| Current trade payables to foreign suppliers |
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Current liabilities to Group companies | 375,736 | 416,588 | 439,094 | 462,015 |
| Current liabilities to associates | 693,043 | 777,047 | 0 | 0 |
| Current liabilities from advances | 82,350 | 78,865 | 82,350 | 78,865 |
| Current liabilities to employees | 10,123,487 | 11,245,495 | 10,393,078 | 11,461,426 |
| Current liabilities to the state and other institutions | 7,157,014 | 6,515,540 | 7,625,523 | 6,968,339 |
| Total operating liabilities | 18,925 | 24,295 | 51,694 | 60,714 |
| Other operating liabilities | 48,212,376 | 46,688,371 | 48,884,631 | 47,339,516 |
| Total | 58,454,240 | 56,078,955 | 59,766,571 | 57,286,363 |
At 31 December 2023, current trade and other payables were slightly higher than at the last day of the previous year for both the Company and the Group. The largest increase is seen in the country's payables to domestic suppliers, due to increased investment in fixed assets, maintenance and higher service prices.
Among liabilities from advances, the Company/Group shows advances received for subsidized EU projects, shown in the controlling company, as well as collaterals received for the purpose of operating the tax warehouse at the liquid and bulk cargo terminal.
| 319,830 | 729,849 |
|---|---|
| 0 | 0 |
| Contingent liabilities under legal disputes | 25,894,775 |
| 23,618,984 | 25,894,775 |
| 23,618,984 | Total contingent liabilities |
| 26,214,605 | 24,348,833 |
| 25,894,775 | 23,618,984 |
Securities in the amount of EUR 319,830 were given to the company Adria Transport, d. o. o., by the controlling company to cover a lease of locomotives. The company that received a guarantee from the controlling company regularly paid its liabilities in this regard and there were no outstanding instalments as at 31 December 2023.
Contingent liabilities under legal disputes amounted to EUR 25,894,775 as at 31 December 2023, up EUR 2,275,791 from the preceding year-end. The increase relates to claims under lawsuits that the Company/Group assessed as not qualifying for provisioning and were therefore recognised as contingent liabilities.
Regarding the property used in the area of the port of Koper for the performance of its activities and certain property in the immediate vicinity of the Port of Koper, the Company/Group has some pending cases with the Republic of Slovenia concerning the ownership status of the mentioned property, regarding which they are seeking appropriate solutions together with the Republic of Slovenia. The Company/Group has not yet received any formal request from the Republic of Slovenia on the basis of which it would be possible to assess its value, which has thus not been disclosed, but it could have a significant impact on the accounts. For this issue, the Company/Group formed no provisions as the conditions for their formation have not been met.
| Name and surname | Gross salary (fixed part) | Gross salary (variable part) | Annual holiday pay and jubilee premiums | Insurance premium benefits | Benefits and other receipts | Total remuneration |
|---|---|---|---|---|---|---|
| Boštjan Napast, President of the Management Board from 3 Dec 2021 to 30 Jun 2023 | 122,138 | 27,872 | 1,096 | 170 | 124,872 | 276,148 |
| Nevenka Kržan, Member of the Management Board from 1 Jul 2022 to 30 Jun 2023, President of the Management Board since 1 Jul 2023 |
| Name and surname | Gross salary (fixed part) | Gross salary (variable part) | Annual holiday pay and jubilee premiums | Insurance premium benefits | Benefits and other receipts | Total remuneration |
|---|---|---|---|---|---|---|
| Robert Rožac, Member of the Management Board from 16 Nov 2021 to 31 Dec 2022 | 198,857 | 12,598 | 2,192 | 261 | 7,743 | 221,651 |
| Vojko Rotar, Member of the Management Board - Worker Director since 16 Feb 2018 | 190,463 | 40,595 | 2,192 | 268 | 6,184 | 239,702 |
| Total | 525,425 | 104,766 | 5,480 | 699 | 187,505 | 823,875 |
| Gross salary (fixed part) | 182,958 |
|---|---|
| Gross salary (variable part) | 0 |
| Annual holiday pay and jubilee premiums | 2,008 |
| Insurance premium benefits | 315 |
| Benefits and other receipts | 4,092 |
| Total remuneration | 189,373 |
| Name | Position | Period | Fixed Income | Variable Income | Other Income | Total |
|---|---|---|---|---|---|---|
| Dimitrij Zadel | President of the Management Board | 29 Dec 2017 to 15 Nov 2021 | 30,855 | 0 | 0 | 30,855 |
| Irma Gubanec | Member | 29 Dec 2017 to 15 Nov 2021 | 27,234 | 0 | 0 | 27,234 |
| Metod Podkrižnik | Member | 29 Dec 2017 to 15 Nov 2021 | 27,758 | 0 | 0 | 27,758 |
| Nevenka Kržan | Member | since 1 Jul 2022 | 69,992 | 0 | 1,004 | 74,440 |
| Robert Rožac | Member | 16 Nov 2021 to 31 Dec 2022 | 163,294 | 1,988 | 2,008 | 176,531 |
| Vojko Rotar | Member of the Management Board - Worker Director | since 16 Feb 2018 | 165,140 | 27,615 | 2,008 | 201,975 |
| Total | 581,384 | 115,450 | 7,028 | 728,166 |
Pursuant to Article 294, Item 5 of the Companies Act, the above table comprises remuneration for exercising respective functions as well as other income, such as cost reimbursement, supplementary retirement schemes and jubilee premiums.
To determine the variable income, i.e. remuneration for the Management Board, the Company/Group applied several quantitative and qualitative indicators, which contribute to the Company’s long-term interests and development.
The payment of variable income or remuneration to a member of the Management Board is made in accordance with the applicable legislation.
| Groups of persons | Gross salary (fixed and variable part) | Annual holiday pay and jubilee premiums | Insurance premium benefits | Benefits and other receipts | Total remuneration |
|---|---|---|---|---|---|
| Members of the Management Board | 630,192 | 5,480 | 699 | 187,504 | 823,874 |
| Members of the Supervisory Board | 254,587 | 0 | 2,268 | 8,468 | 265,322 |
| Employees with individual employment contracts | 3,156,749 | 62,858 | 0 | 225,983 | 3,445,590 |
| Total | 4,041,527 | 68,338 | 2,967 | 421,955 | 4,534,787 |
| Groups of persons | Gross salary (fixed and variable part) | Annual holiday pay and jubilee premiums | Insurance premium benefits | Benefits and other receipts | Total remuneration |
|---|---|---|---|---|---|
| Members of the Management Board | 696,834 | 7,028 | 1,078 | 23,226 | 728,166 |
| Members of the Supervisory Board | 260,073 |
| Employees with individual employment contracts | 2,634,657 | 51,014 | 0 | 209,776 | 2,895,447 |
|---|---|---|---|---|---|
| Total | 3,591,564 | 58,042 | 3,815 | 237,002 | 3,890,423 |
| Gross remuneration of groups of persons (in EUR) | Gross salary (fixed and variable part) | Annual holiday pay and jubilee premiums | Insurance premium benefits | Benefits and other receipts | Total |
|---|---|---|---|---|---|
| Members of the Management Board | 630,192 | 5,480 | 699 | 187,504 | 823,875 |
| Members of the Supervisory Board | 264,196 | 0 | 2,268 | 8,468 | 274,932 |
| Employees with individual employment contracts | 3,313,677 | 67,425 | 0 | 241,935 | 3,623,037 |
| Managing Directors of subsidiaries | 217,232 | 4,566 | 512 | 50,299 | 272,610 |
| Total | 4,425,297 | 77,471 |
3,479
488,206
4,994,453
Until 1 August 2023, the Audit Committee of the Supervisory Board of the controlling company operated in the subsidiary Luka Koper INPO, d. o. o., in accordance with Article 514a, Paragraph 2 of the Companies Act. When the articles of association were amended, Luka Koper, d. d., as the sole shareholder, formed the Supervisory Board and the Audit Committee of the Supervisory Board. The members of the Supervisory Board have not yet received any remuneration in 2023 for their work on the company's bodies, but the estimated costs are included in the statements for 2023.
| Gross remuneration of groups of persons | Gross wages (fixed and variable part) | Annual holiday pay and jubilee premiums | Insurance premium benefits | Benefits and other receipts | Total |
|---|---|---|---|---|---|
| Members of the Management Board | 696,834 | 7,028 | 1,078 | 23,226 | 728,166 |
| Members of the Supervisory Board | 260,073 | 0 | 2,737 | 4,000 | 266,810 |
| Members of Audit Committee – Luka Koper INPO, d. o. o. | 18,094 | 0 | 0 | 188 | 18,282 |
| Employees with individual employment contracts | 2,708,660 | 53,022 | 0 | 68,553 | 2,830,235 |
| Managing Directors of subsidiaries | 280,882 | 6,024 | 0 | 58,101 | 345,007 |
| Total | 3,964,543 | 66,074 | 3,815 | 154,068 | 4,188,500 |
Name and surname
| Name | Function | Insurance Premium | Attendance Fees | Reimbursement of Costs | Total Gross Earnings |
|---|---|---|---|---|---|
| Andrej Koprivec | Member from 2 Jul 2021 to 6 Feb 2023 | 4,152 | 67 | 2,164 | 6,382 |
| Barbara Nose | Member since 7 Feb 2023 | 16,191 | 193 | 6,241 | 22,625 |
| Borut Škabar | Member since 7 Feb 2023 | 15,112 | 193 | 4,290 | 19,594 |
| Boštjan Rader | Member since 7 Feb 2023 | 17,991 | 193 | 6,945 | 25,129 |
| Božidar Godnjavec | Member from 2 Jul 2021 to 6 Feb 2023 | 4,152 | 67 | 3,556 | 7,775 |
| Franci Matoz | Chair from 2 Jul 2021 to 6 Feb 2023 | 5,103 | 67 | 1,996 | 7,166 |
| Jožef Petrovič | Member since 7 Feb 2023 | 17,991 | 193 | 7,644 | 25,828 |
| Mehrudin Vuković | Member since 19 Jan 2020 | 18,571 | 259 | 6,461 | 25,292 |
| Mirko Bandelj | President since 7 Feb 2023 | 17,991 | 193 | 4,056 | 22,239 |
| Mladen Jovičić | Member since 8 Apr 2009 | 19,263 | 259 | 6,270 | 25,793 |
| Mateja Treven | External Member of the SB's Audit Committee since 23 Feb 2023 | 5,068 |
| Name and surname | Performance of function | Insurance premium benefits (SB) | Attendance fees and reimbursement of costs | Total gross earnings |
|---|---|---|---|---|
| Andrej Koprivec, Member since 2 Jul 2021 | 22,500 | 316 | 6,901 | 29,717 |
| Božidar Godnjavec, member since 2 Jul 2021 | 22,500 | 316 | 10,975 | 33,791 |
| Franci Matoz, Chair since 2 Jul 2021 | 27,656 | 316 | 5,277 | 33,249 |
| Name | Performance of function | Insurance premium benefits (SB) | Attendance fees and reimbursement of costs | Total gross earnings |
|---|---|---|---|---|
| Nevenka Črešnar Pergar, Deputy Chair from 2 Jul 2021 to 6 Feb 2023 | 4,429 | 67 | 3,484 | 7,979 |
| Rok Parovel, Member since 13 Sep 2016 | 19,263 | 259 | 6,842 | 26,365 |
| Simon Kolenc, External Member of the SB’s Audit Committee from 12 Jul 2021 to 22 Feb 2023 | 1,532 | 0 | 726 | 2,259 |
| Tomaž Benčina, Member from 7 Jun 2022 and Deputy Chair since 23 Feb 2023 | 23,295 | 259 | 10,227 | 33,781 |
| 190,105 | 2,268 | 72,950 | 265,322 |
|---|---|---|---|
| Name | Member Since | Payments in 2023 (EUR) | Costs/Expenses in 2023 (EUR) | Payments in 2022 (EUR) | Costs/Expenses in 2022 (EUR) |
|---|---|---|---|---|---|
| Mehrudin Vuković | 19 Jan 2020 | 18,750 | 316 | 4,730 | 23,796 |
| Mladen Jovičić | 8 Apr 2009 | 22,500 | 316 | 5,445 | 28,261 |
| Nevenka Črešnar Pergar | 2 Jul 2021 | 24,000 | 316 | 10,816 | 35,132 |
| Rado Antolovič | 1 Jul 2019 to 26 Apr 2022 | 9,125 | 129 | 2,695 | 11,949 |
| Rok Parovel | 13 Sep 2016 | 22,500 | 316 | 6,017 | 28,833 |
| Simon Kolenc | 12 Jul 2021 | 6,600 | 0 | 2,484 | 9,084 |
| Tamara Kozlovič | 22 Aug 2019 to 12 Aug 2022 | 15,726 | 235 | 4,730 | 20,691 |
| Tomaž Benčina | 7 Jun 2022 | 9,036 | 158 | 3,113 | 12,307 |
| Total | 200,893 | 2,734 | 63,183 | 266,810 |
Remuneration in 2023 was paid pursuant to a decision on determining the payment for performance of functions and attendance fees to the Members of the Supervisory Board and Members of Committees of the Supervisory Board, which was adopted at the 29th General Meeting on 28 December 2017, and is published on the Company’s website.
In addition to payments to the Supervisory Board Members, in 2023 the Supervisory Board allocated EUR 1,674 for training of its Members.
| Payments in 2023 (EUR) | Costs/Expenses in 2023 (EUR) | Payments in 2022 (EUR) | Costs/Expenses in 2022 (EUR) | |
|---|---|---|---|---|
| Luka Koper, d. d. |
| Payments in 2023 | Costs/expenses in 2023 | Payments in 2022 | Costs/expenses in 2022 | |
|---|---|---|---|---|
| Concessions and the water fee | 12,345,895 | 10,650,012 | 7,849,917 | 10,682,667 |
| Transhipment fee | 5,681,160 | 5,595,511 | 5,994,238 | 6,084,315 |
| Dividends | 17,850,000 | 0 | 8,139,600 | 0 |
| Corporate income tax (taxes and advance payments) | 16,652,848 | 5,448,518 | 6,735,756 | 13,471,233 |
| Other taxes and contributions | 13,098,549 | 13,485,424 | 12,196,106 | |
| Total | 65,199,167 | 33,994,507 | 40,545,037 | 41,722,226 |
In the business year 2023, there were no transactions between the Company/Group and Members of the Management and Supervisory Boards.
In the period from January to December 2023, there were no transactions with related parties of the Members of the Management Board; however, there were transactions with related parties of the Supervisory Board, namely in the Company for EUR 1,393,000 from sales transactions, and in the Group for EUR 1,463,554. Most of the transactions concern services related to port operations. As at 31 December 2023, the company reported receivables for EUR 51,910 and the Group for EUR 52,383. All transactions were carried out on market terms.
In the period from January to December 2023, the company had EUR 1,393,000 worth of sales transactions with persons related to key management personnel, and the Group had EUR 1,463,554 of such transactions. Most of the transactions concern services related to port operations. As at 31 December 2023, the company reported receivables for EUR 51,910 and the Group for EUR 52,383. All transactions were carried out on market terms.
The shareholder-related companies are those in which the Republic of Slovenia and the SDH together directly hold at least a 20% stake. The list of such companies is published on the SDH website (https://www.sdh.si/sl-si/upravljanje-nalozb/seznam-nalozb).
In 2023, sales transactions conducted between Luka Koper, d. d. and entities in which the state has directly dominant influence were recorded at EUR 4,791,412 and purchasing transactions amounted to EUR 5,135,308, whereas the transactions between the Luka Koper Group and such entities were recorded at EUR 4,793,372 and EUR 5,259,884 respectively. The majority of sale referred to services related to port operations, whereas major purchasing included purchases of energy, pumping services, and insurance costs. As at 31 December 2023, Luka Koper, d. d. recorded receivables of EUR 198,647 and liabilities of EUR 97,591,732 to such entities and the Luka Koper Group recorded EUR 198,647 and EUR 97,578,150 respectively. The major part of liabilities was related to loans given by SID – Slovenska izvozna in razvojna banka, d. d., and Nova Ljubljanska Banka, d. d., which were raised under market conditions.
Related party transactions have been concluded under market conditions.
| (in EUR) | 2023 | 2022 |
|---|---|---|
| Sale to subsidiaries: | ||
| Luka Koper INPO, d. o. o. | 488,656 | 378,189 |
| Luka Koper Pristan, d. o. o., in liquidation* | 0 | 6,000 |
| Adria Terminali, d. o. o. | 569,880 | 609,623 |
| TOC, d. o. o. | 4,200 | 4,200 |
| Adria Investicije, d. o. o. | 828 | 828 |
| Logis-Nova, d. o. o. | 1,200 | 1,200 |
| Sale to associates: |
| Company | 2023 | 2022 |
|---|---|---|
| Adria Transport, d. o. o. | 460,138 | 357,283 |
| Adria-Tow, d. o. o. | 136,793 | 111,723 |
| Avtoservis, d. o. o. | 1,432,505 | 1,598,573 |
| Adriafin, d. o. o. | 13,440 | 13,440 |
| Total | 3,107,640 | 3,081,059 |
| Company | 2023 | 2022 |
|---|---|---|
| Luka Koper INPO, d. o. o. | 7,903,513 | 7,222,771 |
| Luka Koper Pristan, d. o. o., in liquidation* | 0 | 105 |
| Adria Terminali, d. o. o. | 4,800 | 14,400 |
| TOC, d. o. o. | 36,921 | 20,925 |
| Adria Investicije, d. o. o. | 66,085 | 79,082 |
| Total | 8,963,350 | 8,291,339 |
| Company | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|
| Luka Koper INPO, d. o. o. | 450,385 | 514,104 |
| Adria Terminali, d. o. o. | 52,144 | 53,608 |
| TOC, d. o. o. | 427 |
| Adria Transport, d. o. o. | 46,056 | 33,236 |
|---|---|---|
| Adria-Tow, d. o. o. | 567,226 | 13,170 |
| Avtoservis, d. o. o. | 268,297 | 366,221 |
| Adriafin, d. o. o. | 1,366 | 1,366 |
| Total | 1,386,107 | 982,038 |
| Luka Koper INPO, d. o. o. | 702,037 | 791,702 |
|---|---|---|
| Adria Terminali, d. o. o. | 986 | 1,464 |
| TOC, d. o. o. | 8,190 | 3,900 |
| Adria Investicije, d. o. o. | 6,034 | 0 |
| Adria-Tow, d. o. o. | 0 | 7,211 |
|---|---|---|
| Avtoservis, d. o. o. | 82,350 | 71,653 |
| Total | 799,597 | 875,930 |
| 2023 | 2022 | |
|---|---|---|
| Net revenue from sales to associates | 2,044,904 | 2,081,240 |
| Cost of material purchased from associates | 106,283 | 86,506 |
| Cost of services performed by associates | 966,413 | 869,810 |
1,770,468
1,734,286
| (in EUR) | 2023 | 2022 |
|---|---|---|
| Non-current investments except loans to associates | 16,898,490 | 16,361,004 |
| Current operating receivables due from associates | 882,945 | 413,994 |
| Current operating liabilities to associates | 82,350 | 78,865 |
2023 323
Financial risks to which the Company/Group is exposed to include:
In the Company/Group, the management of financial risks has been organised within the departments of finance and accounting, since accounts of subsidiaries are also kept within the controlling company. The existing economic environment makes forecasting future financial categories quite demanding, introducing into the planned categories a higher degree of unpredictability and, consequently, a higher level of risk. The Company/Group has consequently tightened the control over individual financial categories.
| (in EUR) | Carrying amount at 31 Dec 2023 | Carrying amount at 31 Dec 2022 | Carrying amount at 31 Dec 2023 | Carrying amount at 31 Dec 2022 | |
|---|---|---|---|---|---|
| Non-derivative financial assets at fair value | Financial assets at fair value through profit or loss | 9,726,548 | 4,205,892 | 12,212,323 | 6,691,667 |
| Financial assets at fair value through other comprehensive income | 47,736,700 | 41,552,427 | 47,736,700 | 42,297,460 | |
| Non-derivative financial assets at amortised cost |
| Financial claims | 69,474,594 | 1,717 | 69,474,594 | 7,274 |
|---|---|---|---|---|
| Operating receivables (excluding receivables due from the state, advances and collaterals given) | 51,481,810 | 52,517,409 | 52,228,594 | 52,918,041 |
| Assets from contracts with customers | 253,653 | 0 | 253,653 | 0 |
| Cash and cash equivalents | 53,282,798 | 69,095,661 | 81,628,977 | 94,749,216 |
| Total non-derivative financial assets | 231,956,103 | 167,373,106 | 263,534,841 | 196,663,658 |
| Non-derivative financial liabilities at amortized cost | ||||
| Bank loans and other financial liabilities | 109,172,605 | 62,651,556 | 109,172,605 | 62,651,556 |
| Lease liabilities | 943,321 | 1,128,073 | 827,869 | 1,006,969 |
| Operating liabilities (excluding other non-current and current liabilities, current liabilities to the state, employees and from advances and collaterals) | 30,912,950 | 28,903,041 | 30,814,336 | 28,849,037 |
| Total non-derivative financial liabilities | 141,028,876 | 92,682,670 | 140,814,810 | 92,507,562 |
Luka Koper, d. d. Company
At the end of 2023, 7.8% of the Company’s assets were financial investments measured at fair value (year-end of 2022: 6.9%). The change in fair value risk associated with investments in securities is demonstrated through fluctuations in stock market prices that affect the value of these assets and, consequently the potential capital gain on their disposal, and with investments in shares of other companies there is a risk for the sales value not to equal the value of the market transaction. This type of risk has been recognised with regard to investments in market securities of successful Slovenian companies and to investments in shares and interests.
As at 31 December 2023, the value of non-current investments at fair value amounted to EUR 57,463,248. Sensitivity analyses of financial investments at fair value are not disclosed by the Company due to the insignificance of financial investments at fair value, which are classified as level 3.
| Carrying amount at 31 Dec 2023 | Fair value as at 31 Dec 2023 | Direct stock market quotation (Level 1) | Value based on comparable market inputs (Level 2) | No observable market inputs (Level 3) | ||
|---|---|---|---|---|---|---|
| Non-current financial assets | Other non-current investments* | 57,463,248 | 57,463,248 | 55,691,517 | 0 | 1,771,731 |
| Non-current operating receivables** | 39,991 | 39,991 | 0 | 0 | 39,991 | |
| Current financial assets | Current loans, deposits and treasury bills** | 69,474,594 | 69,474,594 | 0 | 0 | 69,474,594 |
| Non-current financial liabilities | Non-current loans and borrowings** | 93,979,370 | 93,979,370 | 0 | 0 | 93,979,370 |
| Non-current operating liabilities** | 98,146 | 98,146 | 0 | 0 | 98,146 | |
| Current financial liabilities | Current loans and borrowings** | 15,193,235 | 15,193,235 | 0 | 0 |
| Carrying amount as at 31 Dec 2022 | Fair value as at 31 Dec 2022 | Direct stock market quotation (Level 1) | Value based on comparable market inputs (Level 2) | No observable market inputs (Level 3) | ||
|---|---|---|---|---|---|---|
| Non-current financial assets | Other non-current investments* | 45,758,319 | 45,758,319 | 44,098,319 | 0 | 1,660,000 |
| Non-current operating receivables** | 39,991 | 39,991 | 0 | 0 | 39,991 | |
| Current financial assets | Current loans given** | 1,717 | 1,717 | 0 | 0 | 1,717 |
| Non-current financial liabilities | Non-current loans and borrowings** | 54,315,463 | 54,315,463 | 0 | 0 | 54,315,463 |
| Non-current operating liabilities | 1,105,802 |
*measured at fair value
| Current loans and borrowings** | 8,336,093 | 8,336,093 | 0 | 0 | 8,336,093 |
|---|---|---|---|---|---|
| Other current financial liabilities** | 21,564 | 21,564 | 0 | 0 | 21,564 |
*measured at fair value
**presented at fair value
The carrying amount of current receivables, cash and current liabilities represents a good approximation of fair value, therefore, these are not disclosed in the table above.
Shares and interests measured at fair value (Level 1) were valued at publicly applicable exchange rates of the Ljubljana Stock Exchange and mutual funds quotations.
In 2023, the Company verified the fair value of other shares and holdings classified at Level 3 with a valuation carried out by an independent authorised company value appraiser. Valuation reports for the purpose of financial reporting were prepared in accordance with the hierarchy of valuation rules, international valuation standards and the guidelines of the Slovenian Institute of Auditors, based on public data on the operations and assets of the evaluated company, publicly announced and disclosed strategic directions of the company and on based on the findings from analyses of industry trends and indicators. The discounted cash flow method was used for the valuation, or the net asset value method when the conditions for using the discounted cash flow method were not met.
At the year-end of 2023, 7.7% of the Group’s assets were financial investments measured at fair value (year-end of 2022: 7.0%). The change in fair value risk associated with investments in securities is demonstrated through fluctuations in stock market prices that affect the value of these assets and, consequently the potential capital gain on their disposal, and with investments in shares of other companies there is a risk for the sales value not to equal the value of the market transaction. This type of risk has been recognised with regard to investments in market securities of successful Slovenian companies and to investments in shares and interests.
As at 31 December 2023, the value of non-current investments at fair value amounted to EUR 59,949,023. Sensitivity analyses of financial investments at fair value are not disclosed by the Group due to the insignificance of financial investments at fair value, which are classified as level 3.
| Carrying amount at 31 Dec 2023 | Fair value as at 31 Dec 2023 | Direct stock market quotation (Level 1) | Value based on comparable market inputs (Level 2) |
|---|---|---|---|
| No | observable | market | inputs | (Level 3) | ||
|---|---|---|---|---|---|---|
| Non-current financial assets | Other non-current investments* | 59,949,023 | 59,949,023 | 55,691,517 | 0 | 4,257,506 |
| Non-current loans given** | 0 | 0 | 0 | 0 | 0 | |
| Non-current operating receivables** | 39,991 | 39,991 | 0 | 0 | 39,991 | |
| Current financial assets | Current loans, deposits and treasury bills** | 69,474,594 | 69,474,594 | 0 | 0 | 69,474,594 |
| Non-current financial liabilities | Non-current loans and borrowings** | 93,979,370 | 93,979,370 | 0 | 0 | 93,979,370 |
| Non-current operating liabilities** | 82,544 | 82,544 | 0 | 0 | 82,544 | |
| Current financial liabilities | Current loans and borrowings** | 15,193,235 | 15,193,235 | 0 | 0 | 15,193,235 |
| Other current financial liabilities** | 18,077 | 18,077 | 0 | 0 | 18,077 |
*measured at fair value
| Carrying amount as at 31 Dec 2022 | Fair value as at 31 Dec 2022 | Direct stock market quotation (Level 1) | Value based on comparable market inputs (Level 2) | No observable market inputs (Level 3) | ||
|---|---|---|---|---|---|---|
| Non-current financial assets | Other non-current investments* | 48,989,127 | 48,989,127 | 44,843,352 | 0 | 4,145,775 |
| Non-current loans given** | 5,557 | 5,557 | 0 | 0 | 5,557 | |
| Non-current operating receivables** | 39,991 | 39,991 | 0 | 0 | 39,991 | |
| Current financial assets | Current loans given** | 1,717 | 1,717 | 0 | 0 | 1,717 |
| Non-current financial liabilities | Non-current loans and borrowings** | 54,315,463 | 54,315,463 | 0 | 0 | 54,315,463 |
| Non-current operating liabilities | 1,145,239 | 1,145,239 | 0 | 0 |
| Current loans and borrowings** | 8,336,093 | 8,336,093 | 0 | 0 | 8,336,093 |
|---|---|---|---|---|---|
| Other current financial liabilities** | 21,564 | 21,564 | 0 | 0 | 21,564 |
*measured at fair value
**presented at fair value
The carrying amount of current receivables, cash and current liabilities represents a good approximation of fair value, therefore, these are not disclosed in the table above.
Shares and interests measured at fair value (Level 1) were valued at publicly applicable exchange rates of the Ljubljana Stock Exchange and mutual funds quotations.
In 2023, the Group verified the fair value of other shares and holdings classified at Level 3 with a valuation carried out by an independent authorised company value appraiser. Valuation reports for the purpose of financial reporting were prepared in accordance with the hierarchy of valuation rules, international valuation standards and the guidelines of the Slovenian Institute of Auditors, based on public data on the operations and assets of the evaluated company, publicly announced and disclosed strategic directions of the company and on based on the findings from analyses of industry trends and indicators. The discounted cash flow method was used for the valuation, or the net asset value method when the conditions for using the discounted cash flow method were not met.
With respect to its liabilities structure, the Company/Group also faces interest rate risk since an unexpected growth in variable interest rates can have an adverse effect on the planned results.
Luka Koper, d. d. Company
As at 31 December 2023, the percentage of financial liabilities (excluding other financial liabilities) increased in the overall structure of the Company’s liabilities from 9.5% at the end of the previous year to 14.9%. The effect of possible variable interest rates changes on future profit and loss after taxes is shown in the table below.
| Exposure on 31 Dec 2023 | 31 Dec 2022 | Exposure on 31 Dec 2022 |
|---|---|---|
| Borrowings received at a variable interest rate (without interest rate hedge) | 30,685,000 | 28.1% |
| Borrowings received at a nominal interest rate | 78,487,606 | 71.9% |
| Total |
| (in EUR) | Non-hedged bank borrowings with a variable interest rate | Increase by 15 bp | Increase by 25 bp | Increase by 50 bp | Increase by 100 bp | Increase by 150 bp | |
|---|---|---|---|---|---|---|---|
| Balance at 31 Dec 2023 | 3M EURIBOR | 30,685,000 | 46,028 | 76,713 | 153,425 | 306,850 | 460,275 |
| Total effect on interest expenses | 30,685,000 | 46,028 | 76,713 | 153,425 | 306,850 | 460,275 | |
| Balance at 31 Dec 2022 | 3M EURIBOR | 34,295,000 | 51,443 | 85,738 | 171,475 | 342,950 | 514,425 |
| Total effect on interest expenses | 34,295,000 | 51,443 | 85,738 | 171,475 | 342,950 | 514,425 |
The analysis of financial liabilities’ sensitivity to changes in variable interest rates was based on assumptions of potential growth in interest rates of 15, 25, 50, 100 and 150 base points. At the year-end of 2023, the Company’s borrowings subject to the movement of the 3M Euribor were not hedged against interest rate risk.
The share of financial liabilities (excluding other financial liabilities) increased in the overall structure of the Group’s liabilities from the initial 8.9% in 2022 to 14.1% at the year-end 2023. The effect of possible variable interest rates changes on future profit and loss after taxes is shown in the table below.
Possible interest rate fluctuations would consequently have an impact on 28.1% (2022: 54.7% percent) of Group’s total borrowings. The remaining 71.9% of borrowings were concluded with a fixed interest rate.
Liquidity risk refers to the risk that the Company/Group would fail to settle its liabilities at maturity. The Company/Group manages liquidity risk by regular planning of cash flows required to settle liabilities with diverse maturity. Additional measures for preventing delays in receivable collection include regular monitoring of payments and immediate response to any delays, and also charging penalty interest in accordance with its uniform receivables management policy.
| Luka Koper, d. d. | Up to 3 months | 3 to 12 months | 1 to 2 years | 3 to 5 years | Over 5 years | Total |
|---|---|---|---|---|---|---|
| Loans and borrowings* | 3,798,309 | 11,394,927 | 15,193,235 | 45,579,706 | 33,206,429 | 109,172,606 |
| Expected interest on all borrowings | 412,662 | 1,226,032 | 1,429,189 | 2,933,171 | 1,080,917 | 7,081,971 |
| Lease liabilities | 110,895 | 302,989 | 368,841 | 160,596 | 0 | 943,321 |
| Other financial liabilities | 18,077 | 0 | 0 | 0 | 0 | 18,077 |
| Total operating liabilities | 38,088,889 | 0 | 0 | 0 | 0 | 38,088,889 |
| Other operating liabilities | 10,241,864 | 0 | 0 |
| Up to 3 months | 3 to 6 months | 6 to 12 months | 1 to 5 years | Over 5 years | Total | |
|---|---|---|---|---|---|---|
| Loans and borrowings* | 2,084,023 | 6,252,069 | 8,336,093 | 25,008,278 | 20,971,092 | 62,651,555 |
| Expected interest on all borrowings | 200,238 | 855,564 | 925,408 | 1,970,060 | 943,309 | 4,894,580 |
| Lease liabilities | 100,662 | 286,050 | 326,241 | 415,120 | 0 | 1,128,073 |
| Other financial liabilities | 21,564 | 0 | 0 | 0 | 0 | 21,564 |
| Total operating liabilities | 35,442,876 | 0 | 0 | 0 | 0 | 35,442,876 |
| Other operating liabilities | 9,390,584 | 0 | 0 | 0 | 0 | 9,390,584 |
| Total | 47,239,947 | 7,393,684 | 9,587,742 | 27,393,458 | 21,914,402 | 113,529,232 |
Time Period
| 31 Dec 2023 | Total | |||||
| 3 to 12 months | 1 to 2 years | 3 to 5 years | Over 5 years | Expected interest on all borrowings | ||
| Loans and borrowings | 3,798,309 | 11,394,927 | 15,193,235 | 45,579,706 | 40,803,046 | 116,769,223 |
| Expected interest on all borrowings | 406,848 | 1,137,023 | 1,340,509 | 2,828,011 | 1,212,139 | 6,924,531 |
| Lease liabilities | 96,470 | 258,367 | 312,436 | 160,597 | 0 | 827,869 |
| Other financial liabilities | 18,077 | 0 | 0 | 0 | 0 | 18,077 |
| Total operating liabilities | 38,491,553 | 0 | 0 | 0 | 0 | 38,491,553 |
| Other operating liabilities | 10,881,940 | 0 | 0 | 0 | 0 | 10,881,940 |
| Total | 53,693,197 | 12,790,316 | 16,846,180 | 48,568,315 | 42,015,186 | 173,913,193 |
Time Period
| 31 Dec 2022 | Total | |||||
| 3 to 12 months | 1 to 2 years | 3 to 5 years | Over 5 years | |||
| Loans and borrowings | 2,084,023 | 6,252,069 | 8,336,093 | 25,008,278 | 20,971,092 | 62,651,555 |
| Expected interest on all borrowings | 196,551 | 549,311 | 652,535 | 1,377,306 | 649,672 | 3,425,375 |
|---|---|---|---|---|---|---|
| Lease liabilities | 84,624 | 223,839 | 283,387 | 415,120 | 0 | 1,006,969 |
| Other financial liabilities | 21,564 | 0 | 0 | 0 | 0 | 21,564 |
| Total operating liabilities | 35,878,090 | 0 | 0 | 0 | 0 | 35,878,090 |
| Other operating liabilities | 9,946,847 | 0 | 0 | 0 | 0 | 9,946,847 |
| Total | 48,211,699 | 7,025,220 | 9,272,014 | 26,800,704 | 21,620,764 | 112,930,400 |
The risk of changes in foreign exchange rates arises from trade receivables denominated in US dollars (USD). In the Company/Group, receivables denominated in US dollars are negligible due to the small amount of invoiced realization in USD, based on which the Company/Group has opted not to hedge this item.
permanent trade receivables insurance policy covering the major part of its short-term trade receivables from customers incurred in the controlling company from 1 January 2023 and of the subsidiary Adria Terminali, d. o. o. from 1 April 2023.
| Luka Koper, d. d. | Luka Koper Group | |||
|---|---|---|---|---|
| 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2022 | |
| Non-current loans given | 0 | 0 | 0 | 5,557 |
| Non-current operating receivables | 39,991 | 39,991 | 39,991 | 39,991 |
| Current loans, deposits and treasury bills given | 69,474,594 | 1,717 | 69,474,594 | 1,717 |
| Current trade receivables | 50,216,207 | 52,037,995 | 50,623,908 | 52,404,304 |
| Other receivables | 5,243,013 | 3,764,115 | 5,624,383 | 3,946,631 |
| Cash and cash equivalents | 53,282,798 | 69,095,661 | 81,628,977 | 94,749,216 |
| Total | 178,256,603 | 124,939,479 | 207,391,853 | 151,147,416 |
The Company/Group has set a goal of the optimal capital structure with a debt to liability ratio below 55 percent.
| Luka Koper, d. d. | Luka Koper Group | ||
|---|---|---|---|
| in EUR | Share (%) | in EUR | Share (%) |
| in EUR | Share (%) | |
|---|---|---|
| Own funds | 505,347,400 | 68.9% |
| 480,225,780 | 72.5% | |
| 543,052,948 | 70.2% | |
| 515,732,169 | 73.6% | |
| Non-current liabilities | 154,012,244 | 21.0% |
| 107,788,799 | 16.3% | |
| 155,667,161 | 20.1% | |
| 109,603,310 | 15.6% | |
| Current liabilities | 74,079,436 | 10.1% |
| 74,666,277 | 11.3% | |
| 75,332,720 | 9.7% | |
| 75,818,749 | 10.8% | |
| Equity and liabilities | 733,439,080 | 100.0% |
| 662,680,856 | 100.0% | |
| 774,052,829 | 100.0% | |
| 701,154,228 | 100.0% |
The contractual value of auditing the annual report, rendered for the Company for the financial year 2023 by BDO revizija d. o. o., is recorded at EUR 32,510 (exclusive of VAT), whereas the value of auditing the annual report for the Group amounted to EUR 67,325 (exclusive of VAT). BDO Revizija, d. o. o. provided the Company with other services of auditing, i.e., auditing the remuneration report, auditing the financial statements for the public utility service of regular maintenance of port infrastructure intended for public transport and public utility service of collecting waste from vessels, as well as auditing the calculation and compliance with financial commitments, the total value of which was EUR 3,985 (exclusive of VAT). Other auditing services for the financial year 2023 for the Group amounting to EUR 5,230 (exclusive of VAT) include providing assurance on the report on relations with associated companies and report on the use of public funds received due to the disabled employees, which alongside the assurance provided to the Company was carried out for the Group by BDO revizija, d. o. o. In 2023, the auditing of ESEF statements is included in the value of auditing the annual report, whereas in the previous year it was charged among other auditing services.
| (in EUR) | Luka Koper, d. d. | Luka Koper Group | 2023 | 2022 |
|---|---|---|---|---|
| Auditing the annual report | 32,510 | 24,805 | 67,325 | 43,337 |
| 3,985 | 11,200 | 5,215 | 12,266 | |
|---|---|---|---|---|
| Total | 36,495 | 36,005 | 72,540 | 55,603 |
In 2023, the controlling company Luka Koper, d. d. generated a net profit of EUR 54,450,022. At the end of the financial year, the Company’s Management Board earmarked half of the profit in the amount of EUR 27,225,011 to other revenue reserves pursuant to Article 230, Paragraph 3 of the Companies Act. The company established that the accumulated profit in 2023 was EUR 43,878,553.
| (in EUR) | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|
| Retained net profit | 16,653,542 | 13,596,751 |
| Profit for the period | 54,450,022 | 73,266,227 |
| Increase in revenue reserves | -27,225,011 | -36,633,114 |
| Total accumulated profit | 43,878,553 | 50,229,864 |
There have been no significant events affecting the financial position of the Company/Group since the date of the statement of financial position.
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