EUROKAI (EUK3) Q3 2024 earnings summary

Executive summary

• Container terminal handling volumes rose 10.4% year-over-year to 9.126 million TEUs in the first nine months of 2024.

• Net profit increased, driven by higher volumes, increased storage charge earnings, and improved investment income.

• Supply chain disruptions from the Red Sea conflict caused shipping delays but boosted storage revenues.

Financial highlights

• Preference share price at end of September 2024 was EUR 31.60, up from EUR 26.00 a year earlier.

• Current market price as of 12 November 2024 is EUR 30.00; 52-week high at EUR 33.40, low at EUR 24.80.

Outlook and guidance

• Consolidated profit for 2024 is expected to show significant improvement, with no change to the positive outlook from the half-year report.