LUKA KOPER, d.d., Koper
Non-audited report of Luka Koper Group January - June 2010
At its meeting on 27th August 2010, the Luka Koper d.d. Supervisory Board was acquainted with the Non-audited report of Luka Koper Group January to June 2010. Between January and June, the Group generated operating revenues in the amount of 62.2 million euros, which is four percent ahead of the same period in 2009.
Cargo throughput at the port, which is one of the most significant indicators of the physical volume of operations, recorded a twenty-two percent increase. The growth in sales revenues failed to meet the growth of cargo throughput, which is mainly attributable to a more rapid turnover of cargo at the port, and a consequent decline in revenues generated from storage charges.
Despite the growth in cargo throughput, the company managed to reduce the labour costs in the first half of the year which exerted a positive impact on operating profit. Cash flow generated by the Group expressed by way of the EBIDTA indicator amounted to 20.6 million euros, which is a nineteen percent upturn on the same period last year. In the first half of 2010, the operating expenses stood at 57.4 million euros which is a year-on increase of four percent. Expenses were, in particular, characterised by increased amortisation as a consequence of extensive investments into the modernisation of terminal facilities during 2009.
Net profit of the Group amounted to 5.4 million euros which is forty-six percent ahead of the January to June 2009 level.
The Management Board