Luka Koper d.d. : An estimate of Luka Koper Group performance in 2013
January 16, 2014 at 12:02 pm
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Based on the provisions of Ljubljana Stock Exchange Rules and applicable legislation, Luka Koper herein published the following note:
In order to evenly provide information to the interested public, the company's Management Board discloses an estimate as to the performance of the Luka Koper Group for fiscal 2013. The Group's operating revenues for 2013 are estimated at 141.7 million euros, whereas net profit is in the region of 8.2 million euros. Net profit for 2013 is again impacted by the additional impairment of real estate values, a downward re-evaluation of financial investments and a deferred tax effect in the total amount of 9.8 million euros in the last quarter of 2013. Without the additional Q4 deductions, net profit for the LK Group in 2013 would have amounted to 18.1 million euros. The net profit attributable to the parent company, Luka Koper d.d., is estimated at 4.2 million euros.
The estimate of simplified cash flow (EBITDA) was also significantly affected by the above mentioned impairments of real estate values. Last year, EBITDA amounted to 39.0 million euros, whereas without the impairments it would have amounted to 47.3 million euros.Group's operating profit (EBIT) estimated at 10.9 million euros; without impairments it would have amounted to 19.2 million euros.
Luka Koper dd is a Slovenia-based company engaged in the provision of port and logistics services in the Port of Koper. The Company provides basic port services, such as sorting, palletising, sampling, protection, labelling, weighing, cleaning and other services; management of the economic zone; supporting services; cargo handling; warehousing, and integrated logistics solutions. Through its terminals, the Company handles general cargo, containers, vehicles, dry bulk cargo, liquid bulk cargo, cereals and fodder, livestock, minerals, timber, fruit, alumina, minerals and energy. The Company also offers terminals for cars, containers and roll on-roll off services. Additionally, the Company is engaged in hotel and catering services, as well as waste collection and recycling. As of December 31, 2011, the Companyâs subsidiaries included Luka Koper Pristan doo, Luka Koper INPO doo, Adria Terminali doo, TOC doo and Luka Koper Deutschland GmbH, as well as several associated companies.