Luka Koper

Earnings Release • Feb 22, 2021

Category: Inside information

Published on: SEOnet

Published at:  19.02.2021 16:01

Published document ID: INI-74/21

INI-68/21

LUKA KOPER, d.d., Koper

Information about Luka Koper Group and Luka Koper, d. d. business performance in 2020

On the basis of the Rules of Ljubljana Stock Exchange and the Financial Instruments Market Act RS, Luka Koper d.d. herein publishes the information about Luka Koper Group and Luka Koper, d. d. business performance in 2020.

Despite epidemic, a solid business performance in 2020

The port of Koper has been normally operating during the epidemic and providing all services to its customers. The effect of the epidemic has been therefore minor as in some other European ports. The container segment remained stable, almost on the 2019 levels. The decrease of throughput of cars has been significantly lower in 2020 compared to some Mediterranean ports, ranking Koper as the first Mediterranean and fifth European port on the automotive segment.

“Due to the timely introduction of preventive measures and thanks to the responsibility of our employees and all others working in the port area, we ensured the smooth operation of the supply chain for the needs of Slovenia and many countries in our hinterland during the epidemic. In such circumstances, we can be more than satisfied with the 2020 business results", commented Dimitrij Zadel, president of the management board of Luka Koper, d.d.

Table 1: Comparison of selected European ports

Containers (TEU)	2019	2020	Change 20/19
Rotterdam*	14.810.804	14.350.000	-3,1%
Antwerp	11.860.204	12.023.086	1,4%
Hamburg*	9.282.012	8.750.000	-5,7%
Koper	959.354	945.051	-1,5%
Trieste	789.640	776.022	-1,7%
Venice	593.070	528.676	-10,9%
Rijeka	305.049	344.091	12,8%
Ravenna	218.138	194.868	-10,7%

*Estimate for 2020, Alphaliner 7/21

Cars (units)	2019	2020	Change 20/19
Zeebrugge	2.960.339	2.191.299	-26,0%
Antwerp	1.219.683	902.477	-26,0%
Koper	705.993	617.157	-12,6%
Valencia	722.758	533.137	-26,2%
Barcelona	777.690	480.337	-38,2%

Source: websites of port authorities

The Luka Koper Group generated in 2020 203,6 million EUR of revenues; an 8 % decrease compared to 2019. In last year's challenging business conditions, the Group successfully managed all categories of operating costs, both those that move in line with the change of throughput, as well as other categories of costs, and achieved 10 % lower operating costs than planned. The EBIT of the Group amounted to 33,5 million EUR which is 1 % ahead of the planned EBIT. The EBITDA was 2 % behind the plan and amounted 61,8 million EUR. The net profit amounted 32 million EUR, a 1 % ahead of the plan and 21 % less compared to 2019.

The company continued with intensive investments in 2020, as post-pandemic conditions are expected to bring back increased cargo volumes. 68,1 million EUR were allocated for investments in 2020, a 74 % increase compared to 2019. A new RO-RO berth and railway sidings for the car terminal were built in the north-east part of the port. The construction of the garage for cars is continuing, while the works on the third truck gate Bertoki will soon be completed. The most important investment which started last year is the container terminal extension, which represents the key investments for maintaining a competitive position in the container segment. The first phase – the quay extension – should be finished in mid 2020, while additional stacking areas are to be completed in 2021.

The Management Board

Date: 22.02.2021