Business News

Luka Koper Presents Ambitious Profit Plans for 2011

Koper, 20 December (STA) - The supervisors of port operator Luka Koper discussed on Monday the 2011 business plan, which envisages turning this year's loss of EUR 300,000 into a EUR 7.6m profit next year at the group level. The core company meanwhile plans to boost profit from the estimated EUR 300,000 in 2010 to EUR 6.7m in 2011.

The group's operating revenues are expected to stand next year at EUR 132.1m or 6% more than the projected revenues for this year (EUR 124.3m), while the core company's revenues are projected at EUR 126.6m in 2011 (up 7%).

The group expects to have earnings before interest, tax, depreciation and amortisation (EBITDA) of EUR 42.7m in 2011, of which EUR 40.2m is expected to be made by the core company. The group's operating profit is projected at EUR 15.4m, and that of the core company at EUR 14.2m.

Planned investment at the group level stand at EUR 32.3m, which is 79% more than the estimated investment in 2010. The bulk of the planned investment (EUR 29.9m) relates to the core company and capacity-boosting projects.

The company will pay particular attention to investment into the container terminal, which is recording increased transshipment and revenues, the warehouse for perishable goods and electricity supply infrastructure.

Luka Koper expects to increase transshipment in 2011 by 7% to 16.4 million tonnes and to continue growth of container transshipment, though with a lower growth rate compared to 2010.

Chairman Gregor Veselko said following the session of the supervisory board that the company hopes for moderate growth of production, exports and imports, and consequently higher demand for transport of materials, energy and final products.

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