Luka Koper d.d. (LKPG) Q3 2025 earnings summary

Executive summary

• Net sales revenue reached EUR 282.9 million, up 16% year-over-year and 12% above plan, driven by higher container and car throughput and increased storage revenues.

• Operating profit (EBIT) was EUR 74.5 million, up 39% year-over-year and 68% above plan, with net profit at EUR 62.4 million, 26% higher year-over-year and 56% above plan.

• Container throughput rose 14% year-over-year to 950,625 TEU, and car throughput increased 7% to 684,269 units.

• Total maritime cargo throughput was 17.1 million tons, stable year-over-year but 1% below plan due to declines in other commodity groups.

• Investments totaled EUR 81.9 million, up 122% year-over-year, focused on infrastructure expansion and sustainability projects.

Financial highlights

• EBITDA reached EUR 97.9 million, up 25% year-over-year and 43% above plan; EBITDA margin was 34.6%.

• Return on sales (ROS) was 26.4%, up 20% year-over-year; return on equity (ROE) was 13.5%, up 15%.

• Net financial debt/EBITDA ratio was -0.1, reflecting strong liquidity and surplus cash.

• Equity increased by 10% to EUR 643.1 million, with market capitalization at EUR 973 million as of September 30, 2025.

• Earnings per share (EPS) rose to EUR 5.81 from EUR 4.52 year-over-year.

Outlook and guidance

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

• Operating 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.

• Focus on sustainability, digitalization, and readiness for the new railway line.