Luka Koper d.d. (LKPG) Q3 2024 earnings summary

Executive summary

• Net sales reached EUR 242.8 million, up 4% year-over-year and in line with plan, driven by higher maritime throughput and increased container-related services, despite a decline in storage revenue due to shorter storage times.

• EBIT was EUR 53.5 million, exceeding plan by 31% and up 4% year-over-year, supported by higher other revenue and lower operating expenses, especially in materials and services.

• Net profit rose to EUR 49.3 million, 4% higher year-over-year and 25% above plan, aided by strong financial results and higher contributions from associates.

• Maritime throughput totaled 17.2 million tons (+2% year-over-year), with container throughput up 3% and car transshipment down 8% compared to the previous year.

Financial highlights

• EBITDA reached EUR 78.5 million (+3% year-over-year, +19% vs. plan), with an EBITDA margin of 32.3%.

• Return on sales (ROS) was 22%, flat year-over-year and 31% above plan.

• Return on equity (ROE) was 11.8%, down 2% year-over-year but 22% above plan.

• Investments totaled EUR 37 million, up 24% year-over-year but 12% below plan due to project timeline adjustments.

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

Outlook and guidance

• Strategic plan targets 26 million tons throughput, 1.4 million TEU containers, and 1.1 million vehicles by 2028, with EUR 785 million in investments planned over five years.

• Focus remains on expanding capacity, digital transformation, and sustainability, including major investments in solar power and infrastructure.