LJUBLJANA (Slovenia), December 16 (SeeNews) – Slovenian port operator Luka Koper [LJE:LKPG] said on Monday that it targets a net profit of 31.7 million euro ($35.2 million) next year, down from 39.4 million euro profit expected this year.
The maritime throughput in 2020 is planned in the amount of 24.1 million tonnes, which is 3% ahead on the throughput estimated in 2019, Luka Koper said in a filing to the Ljubljana Stock Exchange (LJSE) after adopting its 2020 business plan.
The group said it has set ambitious targets for 2020 despite the difficult conditions in the global market and increasing competition in the northern Adriatic and among the northern European ports.
Net revenue from sales is planned to increase to 238 million euro, up 4% over 2019, with growth to be recorded by all commodity groups except liquid cargoes.
The group’s EBITDA is forecast at 63.4 million euro in 2020, down from an estimated 74.2 million euro in 2019, whereas return on equity (ROE) is planned at 7.5%, down from 9.7% estimated for 2019.
In 2020, expenditure on property, plant and equipment, investment property and intangible assets of Luka Koper group are planned in the amount of 87.6 million euro, up from 38.1 million euro in 2019.
“Major investments will be made in increasing the capacity of the Car Terminal, such as a new ro-ro berth in Basin III, additional train tracks, and a parking garage,” the port operator said.
Luka Koper's net profit fell by 29% year-on-year to 35 million euro in the first nine months of 2019.
Shares of Luka Koper traded at 23.0 euro on the Ljubljana Stock Exchange on Friday, unchanged from the previous session, according to the latest data available on the website of the LJSE.
($ = 0.89890 euro)