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Luka Bar A.D.

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Summary

Company ID (NIN)

02002558

Company owner / manager

  • State
  • Individuals
  • Other

Country

Montenegro

Capital

68,761,547

Total assets

76,933,526

Net profit for the period

488,697

Report year

2015

Currency

EUR

Industry

Transportation

Southeastern Europe Company Index (SEECI)

What is SEECI?

General information

About Luka Bar A.D.

Luka Bar A.D. is a Montenegrin port operator.

As of October 2017, the company’s shares are included in Montenegro Stock Exchange’s blue-chip index MNSE 10.

Last updated on Oct 6, 2017.

Meta info
Status
Active
Legal form
Joint Stock Company
Incorporation date
April 16, 1954
NIN
02002558
Tickers
LUBA
Stock Exchange
Montenegro Stock Exchange
ISIN
MELUBARA0BR9
Profile last updated
Oct. 6, 2017, 2:33 p.m.
Alternative names

    Luka Bar JSC;
    Port of Bar JSC

History

    Apr 16, 1954 - Izgradjeni Lucki Kapaciteti is established in Bar, southern Montenegro.

    June 20, 1990 - The company is transformed into social-owned company and changes its name to JP Luka Bar.

    Dec 19, 1999 - JP Luka Bar is transformed into joint stock company and changes its name to Luka Bar A.D.

    Apr 1, 2010 - Luka Bar A.D. establish a subsidiary company Hotel Sidro D.O.O.

    Oct 22, 2010 - The company sells its wholly-owned subsidiary Pomorski Poslovi D.O.O. to a local consortium of the local maritime company Interlog D.O.O. and its Italian peer Ocean SRL.

    March 2014 - The company acquires 100% in the local company Stivadorski poslovi D.O.O.

    Last updated on Oct 6, 2017.

Management

Executive Board
Mirovic Anka
CFO
Zarija Franovic
CEO
Board of Directors
Borislav Lalevic
Member of the Board
Andjelko Lojpur
Chairman of the Board
Branislav Brankovic
Member of the Board
Aleksandar Jovovic
Member of the Board
Sead Delalic
Member of the Board

Contacts

Address
Obala 13 Jula BB
N/A
Bar, Montenegro
Telephones

+382 30 300 400
+382 30 300 500
+382 30 300 590

Fax

+382 30 300 402
+382 30 300 444
+382 30 300 502

Emails

milijana.simovic@lukabar.me
prodaja@lukabar.me
lukabar@mts.rs

Websites
www.lukabar.me

Ownership

Name Direct holding Indirect holding Owner type Country
State 54.05 State Montenegro
Individuals 1.01 Individual
Other 44.94 Other

Subsidiaries and affiliates

Name Direct holding Indirect holding Country
Hotel Sidro D.O.O. 100.0 Montenegro
Stivadorski Poslovi D.O.O. 100.0 Cocos (Keeling) Islands
Bezbjednosni i Lucki Poslovi D.O.O. 100.0 Montenegro

Products and services

Luka Bar A.D. provides loading, unloading and storage services at Bar port.

Capacity

Luka Bar A.D. is headquartered in coastal Bar, southern Montenegro.

The port has a handling capacity of 5.0 million tonnes.

The company operates:

  • three open-air warehouses and a parking with total surface area of 103,003 sq m;
  • two closed warehouses with tatal area of 12,282 sq m;
  • cold storage plant - 7,749 sq m;
  • silo for grains with a capacity of 30,000 tonnes and loading tower;
  • four reservoirs for base oils with a capacity of 1,400 cu m;
  • dryer plant covering 950 sq m;
  • administratrative building - 1,964 sq m;
  • freezone administratrative building - 398 sq m;
  • commercial business building - 6,632 sq m;
  • discount store - 295 sq m;

The company's equipment includes:

  • three gantry cranes with capacity of 12 tonnes;
  • loading tower with capacity 300 tonnes per hour;
  • mobile crane with maximum carrying capacity of 144 tonnes;
  • eigth trucks with a capacity of 2.0 - 42 tonnes
  • four electric forklifts with a loading capacity of 1.5 - 3.0 tonnes
  • 11 traliers wth a capacity of 4.0 - 11 tonnes

On Apr 1, 2010 the company transfered the owneship of hotel Sidro to its new subsidiary Hotel Sidro D.O.O.

Last updated on Oct 6, 2017.

Employment

Year Employees Report type
2015-12-31 216 Non-consolidated
2014-12-31 226 Non-consolidated
2014-12-31 410 Consolidated
2013-12-31 391 Consolidated
2013-12-31 292 Non-consolidated
2012-12-31 422 Consolidated
2012-12-31 244 Non-consolidated
2011-12-31 244 Non-consolidated
2010-12-31 222 Non-consolidated

Market and sales

Luka Bar A.D. operates the port in Bar.
 

Indicator H1 2017 H1 2016 H1 2015 H1 2014
Operating revenue 600,537 638,257 3,744,649 3,714,209
Net profit/loss 319,647 603,808 -80,704 14,668


In December 2013 A tie-up of China Communications Construction Company (CCCC) and China Road and Bridge Corporation (CRBC) announced they are interested in investing in the expansion and reconstruction of Luka Bar A.D.
 

Luka Bar A.D. Handled Ships and Cargo
Period Number ships Cargo (tonnes)
Jan - Nov 2015 177 766,390
2013 220 621.300
2012 179 805,219
2011 190 924,233
2010 226 1,047,828


 

Luka Bar A.D. Handled Cargo by Type in Tonnes
Type of carto Jan - Nov 2015 2013 2012
Bulk 444,321 293,669 553,995
Liquid 200,024 174,457 181,437
Roll-on/roll-off (RORO) 119,114 148,139 60,088
General N/A 5,691 9,240
Total 763,459 621,956 804,760

 

In its 2009 edition Bulgarian business information provider SeeNews ranked Luka Bar A.D. sixth in terms of total revenue among the 10 largest companies in Montenegro.

Last updated on Oct 6, 2017.

Investment plans

In December 2013 Luka Bar A.D. invested EUR 400,000 in construction of a border checkpoint for the export of meat and meat products, veterinary and phytosanitary control products according to European standards. The construction of the centre should be completed by the end of June 2014 and start operarting in September 2014.

Financial information

Report ( Consolidated )
Balance Sheet - Assets 2014 2013 2012 2011 2010 2009
Non current assets 67,894,611 68,778,554 69,865,054 70,007,252 68,802,197 67,787,357
Fixed assets 64,372,756 65,141,844 66,061,566 66,134,435 64,563,215 63,754,759
Intangible assets 183,111 169,384 229,864 164,272 195,762 148,172
Other assets 0 0 0 0 0 0
Financial non current assets 3,338,744 3,467,326 3,573,624 3,708,545 4,043,220 3,884,426
Expenses for future periods 0 0
Current assets 9,848,991 9,163,475 7,771,422 6,413,007 6,884,007 8,798,764
Inventories 154,989 143,332 182,903 135,434 96,591 146,172
Trade and other receivables 7,880,332 7,044,097 7,132,449 5,823,798 6,610,140 8,471,188
Financial assets 618,150 1,210,032 0 200,000 83,743 40,894
Cash and equivalents 1,195,520 766,014 456,070 253,775 93,533 14,510
Total assets 77,743,602 77,942,029 77,636,476 76,420,259 75,686,204 76,586,121
Balance Sheet - Equity and liabilities 2014 2013 2012 2011 2010 2009
Total Equity 69,472,960 69,304,068 68,991,090 69,256,655 68,160,807 69,084,700
Capital 68,761,547 68,761,547 68,761,547 68,761,547 68,761,547 68,761,547
Reserves 3,352,185 3,351,919 3,351,919 3,363,772 3,218,714 3,379,944
Financial result 2,640,772 2,809,398 -3,122,376 -2,868,664 -3,819,454 -3,056,791
Non current liabilities 3,464,296 4,129,891 4,445,247 3,628,544 913,893 653,893
Trade and other liabilities 3,205,924 3,921,732 187,362 166,124 0 0
Other financing 258,372 208,159 4,257,885 3,462,420 913,893 653,893
Current liabilities 4,387,430 4,189,438 3,993,684 3,446,211 6,463,314 6,636,048
Short term debts, including tax liabilities and provisions 4,387,430 4,189,438 2,386,243 2,230,355 2,949,302 3,860,156
Other short term liabilities 0 0 1,607,441 1,215,856 3,514,012 2,775,892
Total Liabilities 8,270,642 8,637,961 8,438,931 7,074,755 7,377,207 7,289,941
Total Equity and Liabilities 77,743,602 77,942,029 77,636,476 76,420,259 75,686,204 76,586,121
Working capital 5,461,561 4,974,037 3,777,738 2,966,796 420,693 2,162,716
Number of Employees 410 391 422 N/A N/A N/A
Profit and Loss Account 2014 2013 2012 2011 2010 2009
Operating revenue 7,995,581 8,085,283 8,483,104 8,948,999 15,915,860 11,225,512
Net sales revenue 7,687,279 7,873,927 8,195,978 8,795,916 15,058,885 9,482,362
Export turnover
Financial revenue 6,050 657 3,071 5,988 0 0
Total operating revenue 8,001,631 8,085,940 8,486,175 8,954,987 15,915,860 11,225,512
Extraordinary revenue 4,774 1,031 1,041 9,695 0 0
Total revenue 8,006,405 8,086,971 8,487,216 8,964,682 15,915,860 11,225,512
Cost of goods sold 222,382 239,060 0 0
Expenses for materials 1,139,299 1,168,990 1,337,493 1,369,739 2,658,600 1,382,493
Expenses for employees 2,968,640 3,113,974 3,552,929 3,377,772 10,829,248 2,969,290
Depreciation and amortisation 1,021,747 1,029,105 1,100,230 1,054,586 2,116,826 1,011,502
Other 2,164,699 1,911,349 2,106,253 2,304,671 1,602,396 3,623,491
Operating expenses 7,493,294 7,447,623 8,319,287 8,345,828 17,207,070 8,986,776
Financial expenses 204,038 209,557 215,031 100,143 0 0
Interest paid
Total operating expenses 7,697,332 7,657,180 8,534,318 8,445,971 17,207,070 8,986,776
Extraordinary expenses 40,163 4,637 89,005 311,275 0 0
Total expenses 7,737,495 7,661,817 8,623,323 8,757,246 17,207,070 8,986,776
Profit before taxes 268,910 425,154 0 207,436 0 2,238,736
Loss before taxes 0 0 136,107 0 1,291,210 0
Expenses for taxes 100,284 112,176 117,605 19,309 0 210,906
Profit/loss after taxation 168,626 312,978 -253,712 188,127 -1,309,242 1,754,662
Minority interest
Net profit for the period 168,626 312,978 0 188,127 0 1,754,662
Net loss for the period 0 0 253,712 0 1,309,242 0
Added value 4,259,297 4,568,233 4,770,764 4,639,794 12,946,074 5,946,360
Gross profit 7,973,596 8,556,856 15,058,885 9,482,362
Operating profit 502,287 637,660 163,817 603,171 0 2,238,736
Operating loss 0 0 0 0 1,291,210 0
Financial profit/loss -197,988 -208,900 -211,960 -94,155 0 0
Extraordinary profit/loss -35,389 -3,606 -87,964 -301,580 0 0
Key Ratios 2014 2013 2012 2011 2010 2009
ROE 0.24 % 0.45 % -0.37 % 0.27 % -1.92 % 2.54 %
ROA 0.22 % 0.4 % -0.33 % 0.25 % -1.73 % 2.29 %
ROIC 0.70 % 0.87 % 0.22 % 0.83 % -1.89 % 2.81 %
Operating margin 6.53 % 8.10 % 2.00 % 6.86 % -8.57 % 23.61 %
Net profit margin 2.19 % 3.97 % -3.1 % 2.14 % -8.69 % 18.5 %
Total liabilities/assets 10.1 % 10.67 % 10.87 % 9.26 % 9.75 % 9.52 %
Total liabilities/equity 11.3 % 12 % 12.23 % 10.22 % 10.82 % 10.55 %
Current liquidity ratio 2.24 2.19 1.95 1.86 1.07 1.33
Quick ratio 0.27 0.18 0.11 0.07 0.01 0.00
Inventory turnover ratio 49.60 54.93 44.81 64.95 155.90 64.87
Fixed assets turnover ratio 0.11 0.11 0.12 0.13 0.22 0.14
Total assets turnover ratio 0.10 0.10 0.11 0.12 0.20 0.12
EBIT 502,287 637,660 163,817 603,171 -1,309,242 1,965,568
EBITDA 1,524,034 1,666,765 1,264,047 1,657,757 807,584 2,977,070
NCF 1,190,373 1,342,083 846,518 1,242,713 807,584 2,766,164
Report ( Non-consolidated )
Balance Sheet - Assets 2015 2014 2013 2012 2011 2010 2009
Non current assets 67,584,651 68,394,742 69,207,680 70,327,358 70,241,112 67,914,041 68,834,475
Fixed assets 57,273,696 58,398,665 59,037,833 59,853,979 59,836,484 57,350,296 63,746,828
Intangible assets 630,790 182,945 168,555 228,372 162,117 145,354 195,762
Other assets 0 0 0 0 0 0 0
Financial non current assets 9,680,165 9,813,132 10,001,292 10,245,007 10,242,511 10,418,391 4,891,885
Expenses for future periods 0
Current assets 9,348,875 9,450,253 9,019,358 7,600,829 6,107,632 8,540,571 6,879,364
Inventories 68,636 138,027 128,108 165,334 109,903 126,539 96,591
Trade and other receivables 7,844,248 8,259,705 6,986,966 7,040,490 5,581,011 8,294,567 6,610,140
Financial assets 0 0 1,210,032 0 200,000 40,894 83,743
Cash and equivalents 1,435,991 1,052,521 694,252 395,005 216,718 78,571 88,890
Total assets 76,933,526 77,844,995 78,227,038 77,928,187 76,348,744 76,454,612 75,713,838
Balance Sheet - Equity and liabilities 2015 2014 2013 2012 2011 2010 2009
Total Equity 70,925,176 70,436,478 70,081,226 69,571,586 69,576,974 69,135,031 68,160,807
Capital 68,761,547 68,761,547 68,761,547 68,761,547 68,761,547 68,761,547 68,761,547
Reserves 0 3,352,185 3,351,919 3,351,919 3,351,919 3,379,944 3,218,714
Financial result -1,188,557 -1,677,254 2,032,240 -2,541,880 -2,548,345 -3,006,460 -3,819,454
Non current liabilities 2,157,755 3,205,924 4,129,891 4,445,247 3,628,544 865,373 1,062,083
Trade and other liabilities 0 0 3,921,732 187,362 166,124 0 0
Other financing 2,157,755 3,205,924 208,159 4,257,885 3,462,420 865,373 1,062,083
Current liabilities 3,172,628 3,579,978 3,738,511 3,732,455 3,068,202 6,454,208 6,490,948
Short term debts, including tax liabilities and provisions 469,647 571,676 3,738,511 2,125,014 1,930,114 3,692,228 3,066,680
Other short term liabilities 2,702,981 3,008,302 0 1,607,441 1,138,088 2,761,980 3,424,286
Total Liabilities 5,330,383 6,785,902 8,145,812 8,177,702 6,696,746 7,319,581 7,553,031
Total Equity and Liabilities 76,933,526 77,844,995 78,227,038 77,928,187 76,348,744 76,454,612 75,713,838
Working capital 6,176,247 5,870,275 5,280,847 3,868,374 3,039,430 2,086,363 388,416
Number of Employees 216 226 292 244 244 222 N/A
Profit and Loss Account 2015 2014 2013 2012 2011 2010 2009
Operating revenue 8,050,366 7,541,940 7,542,850 8,013,194 8,455,532 10,795,239 15,915,860
Net sales revenue 7,562,415 7,237,939 7,333,782 7,747,298 8,313,270 9,054,617 15,058,885
Export turnover
Financial revenue 1,043 6,020 572 2,993 5,936 15,041 0
Total operating revenue 8,051,409 7,547,960 7,543,422 8,016,187 8,461,468 10,810,280 15,915,860
Extraordinary revenue 504,604 4,774 5,611 1,041 9,692 0 0
Total revenue 8,556,013 7,552,734 7,549,033 8,017,228 8,471,160 10,810,280 15,915,860
Cost of goods sold 22,037 29,844 49,099 61,725 0 0
Expenses for materials 1,004,619 1,016,004 1,000,688 1,176,628 1,243,406 1,290,212 2,658,600
Expenses for employees 2,415,862 2,650,368 2,809,430 3,236,219 3,064,313 2,711,904 10,562,179
Depreciation and amortisation 906,070 891,416 894,865 963,279 917,796 911,978 2,089,086
Other 2,612,126 2,247,688 1,942,667 2,179,389 2,238,454 3,592,189 1,897,205
Operating expenses 6,960,714 6,835,320 6,680,382 7,604,614 7,525,694 8,506,283 17,207,070
Financial expenses 158,843 204,038 209,557 215,030 100,020 288,293 0
Interest paid
Total operating expenses 7,119,557 7,039,358 6,889,939 7,819,644 7,625,714 8,794,576 17,207,070
Extraordinary expenses 874,253 38,228 50,944 87,244 381,847 0 0
Total expenses 7,993,810 7,077,586 6,940,883 7,906,888 8,007,561 8,794,576 17,207,070
Profit before taxes 562,203 475,148 608,150 110,340 463,599 2,015,704 0
Loss before taxes 0 0 0 0 0 0 1,291,210
Expenses for taxes 73,506 86,833 98,510 103,875 5,484 210,711 0
Profit/loss after taxation 488,697 388,315 509,640 6,465 458,115 1,804,993 -1,309,242
Minority interest
Net profit for the period 488,697 388,315 509,640 6,465 458,115 1,804,993 0
Net loss for the period 0 0 0 0 0 0 1,309,242
Added value 3,884,135 4,016,932 4,312,445 4,309,838 4,445,708 5,639,586 12,651,265
Gross profit 7,540,378 7,208,095 7,698,199 8,251,545 9,054,617 15,058,885
Operating profit 1,089,652 706,620 862,468 408,580 929,838 2,288,956 0
Operating loss 0 0 0 0 0 0 1,291,210
Financial profit/loss -157,800 -198,018 -208,985 -212,037 -94,084 -273,252 0
Extraordinary profit/loss -369,649 -33,454 -45,333 -86,203 -372,155 0 0
Key Ratios 2015 2014 2013 2012 2011 2010 2009
ROE 0.69 % 0.55 % 0.73 % 0.01 % 0.66 % 2.61 % -1.92 %
ROA 0.64 % 0.5 % 0.65 % 0.01 % 0.6 % 2.36 % -1.73 %
ROIC 1.51 % 0.97 % 1.17 % 0.55 % 1.27 % 3.27 % -1.89 %
Operating margin 14.41 % 9.76 % 11.76 % 5.27 % 11.18 % 25.28 % -8.57 %
Net profit margin 6.46 % 5.36 % 6.95 % 0.08 % 5.51 % 19.93 % -8.69 %
Total liabilities/assets 6.93 % 8.72 % 10.06 % 10.49 % 8.77 % 9.57 % 9.98 %
Total liabilities/equity 7.52 % 9.63 % 11.23 % 11.75 % 9.62 % 10.59 % 11.08 %
Current liquidity ratio 2.95 2.64 2.41 2.04 1.99 1.32 1.06
Quick ratio 0.45 0.29 0.19 0.11 0.07 0.01 0.01
Inventory turnover ratio 110.18 52.44 57.25 46.86 75.64 71.56 155.90
Fixed assets turnover ratio 0.11 0.11 0.11 0.11 0.12 0.13 0.22
Total assets turnover ratio 0.10 0.09 0.09 0.10 0.11 0.12 0.20
EBIT 1,089,652 706,620 862,468 408,580 929,838 2,288,956 -1,309,242
EBITDA 1,995,722 1,598,036 1,757,333 1,371,859 1,847,634 3,200,934 779,844
NCF 1,394,767 1,279,731 1,404,505 969,744 1,375,911 2,716,971 779,844
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