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Luka Koper Posts EUR 8.3M January-September Net Profit

Ljubljana, 23 November (STA) - The group around port operator Luka Koper posted operating revenue of EUR 108.1m in the first nine months of 2012, up 2% year-on-year but 3% below plans. Net profit surged 168% to EUR 8.3m year-on-year and was 18% short of expectations, according to unaudited results released on Friday.

In the January-September period, the group generated EUR 14.8m in operating profit, down 7% compared to the same period last year. The company attributes the downturn to a year-on increase in operating expenses, which includes higher costs of services and impairments.

Based on the nine-month results, Luka Koper's management estimates that economic conditions in key hinterland markets have yet to show signs of improvement. "2012 may fall short of expectations, particularly in general and break bulk cargo as well as container freight," the management said.

In addition, return on sales will also continue to be impacted by increases in energy costs, in particular diesel, as well as higher maintenance costs. "These risks are actively managed by marketing activities and efficient cost management," the management added.

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