EUROKAI (EUK3) Q1 2025 earnings summary

Executive summary

• Overall container handling volumes rose 11.0% year-over-year to 3.25 million TEUs in Q1 2025.

• Both German and Italian terminal operations exceeded forecasts, with significant volume and earnings growth.

• Preference share price increased to EUR 37.20 at March-end, up from EUR 28.40 a year earlier.

Financial highlights

• German terminals saw a 16.5% year-over-year increase in handling volumes, reaching 2,007,981 TEUs.

• Italian terminals handled 390,875 TEUs, up 4.0% year-over-year.

• Tangier and Limassol terminals posted volume increases of 2.2% and 7.4%, respectively.

• Preference shares reached a 52-week high of EUR 38.60 and a low of EUR 27.00.

Outlook and guidance

• Earnings forecast for the Italian segment has improved; now expected to match 2024 levels despite US economic uncertainty.

• EUROGATE segment earnings are expected to decline significantly year-over-year due to one-off effects and normalization of storage charges.

• Group consolidated earnings are projected to decline, mainly due to the absence of prior year one-off gains.