LUKA KOPER, d.d., Koper
Session of the Supervisory Board
The Supervisory Board has on it's regular session on 17th December 2008 acquainted with the business plan for the coming year. Becuase of forecasted uncertain economic conditions the Supervisory Board wanted additional explanations and decided that the 2009 business plan will be adopted on a session within next days.
It is a fact that the global financial crisis will result in a downturn in mercantile activity throughout the world. Economic growth in the euro zone is anticipated to amount to a mere 0.2 percent in 2009, a factor which shall surely affect Austria, Italy and Hungary - the company's three largest European foreign markets. It should also be considered that bulk cargos are the most important single element as regards Austrian and Italian trade through Koper, as a consequence of which, no substantial discrepancies appear likely. Three percent growth is projected for the domestic market - Slovenia accounts for about one third of cargo throughput at Koper - while forecasts for other hinterland markets, such as the Czech Republic, Slovakia and the Balkan states, are more optimistic. Under such circumstances a downturn in commerce appears inevitable, and this is predicted to have a slight impact on business, particularly as regards vehicles and container freight pertaining to the automotive sector.
Despite all the odds, the company has already surpassed its projected 15.2 million tonnes of cargo throughput for this calendar year, further to which Luka Koper' s performance in fiscal 2008 will exceed expectations. Over the first nine months of 2008 it generated 93 million euros in operating revenues, which was 10% ahead of projections and a 13% increase on the equivalent period last year.
The Supervisory Board also agreed with the possibility to sell the stake in Banka Koper, Adriafin d.o.o. and the selling of some real estate, always considering the conditions on the market and specific offers. On Management Board's proposal the Supervisory Board withdraw from the agenda the item related to the possibility of selling a stake in Intereuropa, d.d. because of further adjustments with other shareholders.
This information will be available on company's web site www.luka-kp.si from 18th December 2008 onwards.
Date: 18. 12. 2008