On the basis of the Rules of Ljubljana Stock Exchange and the Financial Instruments Market Act RS, Luka Koper d.d. publishes the Non-audited Report on the Performance of Luka Koper d.d. and Luka Koper Group in January – September 2020.

The impact of the coronavirus pandemic on global cargo flows continued also in the third quarter of the 2020. Nevertheless, the handled volumes of two Luka Koper’s strategic cargo segments, containers and cars, remained stable. In the first nine months of 2020 we registered a decrease of 3.3 percent in the container segment compared to the same period last year, which is a relatively good result compared to other European ports. Car volumes registered, if we take in consideration the half-year figures, even a positive trend in the third quarter. Comparing the 1-3Q car volumes we registered a 15.4 percent decrease, while in the first half the decrease was 20.5 percent. Other comparable ports registered higher drops in handled quantities.

Source: webpages of port authorities (note: Rijeka port authority quarter results are not being published, while the Trieste port authority statistics has not been published yet. Therefore, the total throughput data is not included in the table).

Compared to the 2019 period, the throughput of solid fuels continued to decrease. In accordance with the European legislation, which anticipates decarbonization in all economic sectors, the throughput of steam coal is decreasing accordingly. As regards liquid fuels, there is an obvious impact of the pandemic on the airline industry. The reduced production in the automotive industry has affected the whole supply chain, marking a decrease of volumes in steel products on the general cargo terminal as well as raw materials on the dry bulk terminal.

The total maritime throughput (14,9 million tons) was down by 16 percent compared to the same period in 2019, affecting net sales of Luka Koper Group which reached 155 million EUR or 11 percent less compared to 1-3Q 2019. EBIT reached 22 million EUR, a 44 percent decrease, mostly because of the lower sales and higher labour costs, as consequence of the implementation of the three-pillar employment system. To consider is also the tax for the construction of the railway track Divača – Koper, which became effective in March 2019. The EBITDA reached 43 million EUR, while net profit of the Group amounted to 22 million EUR.

“Despite challenging market situation, the company continued with investments aimed to increase the port facilities. We expect a positive trend of cargo volumes after the pandemic, and we are adapting the infrastructure for the post-covid situation”, stressed Mr Dimitrij Zadel, president of the management board of Luka Koper, d.d. The Group has allocated 50 million EUR for investments in the first nine months, a 97 percent increase compared to the same period of 2019. Two major projects were completed this year, the RO-RO berth and additional railway sidings for the car terminal. The construction of the new garage for cars with 6.000 units capacity is in full swing and is expected to be completed in March 2021. In August we started with the quay extension at the container terminal and with the construction of the third truck gate – both projects should be finished at the end of the first quarter of 2021.