Business News

Luka Koper Group to Up Profit by Half in 2013

Koper, 21 December (STA) - The group around port operator Luka Koper expects to increase its net profit by 54% to EUR 13.34m in 2013 compared to the estimates for this year, show the business plans for next year published on Friday. Operating profit of the group is planned to increase by 2% to EUR 146.62m.

The plan is ambitious and envisages growth in most sectors despite the persisting difficult situation on the key markets, but the group also expects much lower expenditure, based on its repayment of debts. The group expects to further decrease its total debt next year to EUR 172.32m.

The group's operating profit is planned at EUR 18.9m for next year, up 8.4% from the 2012 estimate, while the core company's operating profit is expected to grow by 14.7% to EUR 16.73m.

The 2013 earnings before interest, taxes, depreciation and amortisation (EBITDA) of the group managing Slovenia's sole port are estimated at EUR 47m.

The Luka Koper group plans EUR 33.8m of investments next year, especially in port infrastructure and equipment, notably in the deepening of the seabed to allow bigger container ships access to the port.

The port expects to load and unload 17.67m tonnes of cargo in 2013, which is 1.5% more than this year.

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