Luka Koper published their Q1 2021 results last week, showing a sales increase of 4% YoY, EBITDA increase of 10% YoY and a net profit of EUR 8.6m (+15% YoY).
In Q1 2021 Luka Koper recorded sales in the amount of EUR 57.5m which represents a 4.1% YoY increase. Of that, sales from market activities were up 5% YoY, while revenue from the performance of the public utility service of regular maintenance of the port’s infrastructure were down -15% YoY.
Maritime throughput in tons per cargo groups in Q1 2020 and Q1 2021
Throughput wise, Luka Koper achieved higher throughput in two strategic cargo types, containers and cars. Note that the increase came despite the ongoing COVID-19 pandemic, and that Luka Kope even set a new monthly record in container throughput during March, when 97,101 TEU container units were transhipped. Compared to the previous year, the throughput of liquid cargo decreased, mainly due to the cessation of airport passenger traffic and lower transhipment of petroleum products due to the effects of the covid-19 epidemic, and the transhipment of thermal coal, the consumption of which is declining in accordance with European legislation provides for complete decarburization.
Throughput of containers (number containers and TEU) and cars (in units) in Q1 2020 and Q1 2021
EBITDA amounted to EUR 17.1m, representing a 10.2% YoY increase. The growth can be attributed to higher sales. Meanwhile the costs of material (-18.4%) and other operating expense (-18.5%) decreased, whilst the costs of services (+7.6%) and labour costs (+2.2%) increased. Note that labour costs increased due to higher payment for job performance and due to a 0.3% adjustment of wages to inflation from August 2020 onwards.
Finally, net profit amounted to EUR 8.6m, representing a 15.3% YoY increase.
CAPEX amounted to EUR 18.1m, representing a 68% YoY increase and wase used to complete the construction of the parking garage for cars and the construction of the additional entrance to the Port. Mentioned investments were also used of the continued extension of the Pier I and the construction of a new petrol station for the needs of the port.
Luka Koper Key Financials (EUR)