Luka Koper d.d. (LKPG) Q2 2025 earnings summary

Executive summary

• Net sales reached EUR 187.7 million, up 15% year-over-year and 11% above plan, driven by increased container and car throughput amid global shipping route changes and geopolitical tensions.

• EBIT rose to EUR 52.8 million, up 41% year-over-year and 69% above plan, with net profit at EUR 43.5 million, 33% higher than last year and 66% above plan.

• Container throughput grew 14% year-over-year to 623,731 TEU, and car transshipment increased 10% to 452,049 units.

• Investments totaled EUR 54 million, focused on infrastructure expansion and sustainability projects.

Financial highlights

• EBITDA reached EUR 68.2 million, up 26% year-over-year and 45% above plan; EBITDA margin improved to 36.3%.

• Return on sales (ROS) was 28.1%, up 23% year-over-year; return on equity (ROE) reached 14.5%, up 21%.

• Net financial debt/EBITDA ratio dropped to 0.1, reflecting strong liquidity and low leverage.

• Operating costs increased 7% year-over-year, mainly due to higher labor and material costs.

• Equity rose 6% to EUR 617.3 million, with market capitalization at EUR 826 million as of June 2025.

Outlook and guidance

• Strategic plan targets 26 million tons throughput, 1.4 million TEU, and 1.1 million vehicles by 2028.

• Revenue goal for 2028 is EUR 413 million, with an EBITDA margin of 29% and ROE of 9%.

• Planned investments of EUR 785 million over five years to expand capacity and support digital transformation.