Luka Koper d.d. (LKPG) Q4 2024 earnings summary

Executive summary

• Net sales reached EUR 330.1 million, up 6% year-over-year and 2% above plan, driven by higher maritime throughput and container services.

• EBIT was EUR 67 million, exceeding plan by 33% and up 10% year-over-year, supported by higher revenues and lower operating costs.

• Net profit totaled EUR 60.3 million, 26% above plan and 7% higher than 2023, aided by improved financial results and contributions from associates.

• Record container throughput of 1,133,340 TEU (+6% year-over-year), while car throughput declined 3% to 884,666 units.

• Total maritime throughput reached 23 million tons, up 3% year-over-year and 2% above plan.

Financial highlights

• EBITDA was EUR 100.5 million, up 7% year-over-year and 20% above plan.

• Return on sales (ROS) improved to 20.3%, up 4% year-over-year and 31% above plan.

• Return on equity (ROE) held steady at 10.7% year-over-year, but 21% above plan.

• Investments totaled EUR 55.5 million, up 33% year-over-year but 23% below plan.

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

Outlook and guidance

• Construction of the northern side of Pier I will begin in 2025, supported by new long-term loans totaling EUR 77 million.

• Strategic investment cycle of EUR 785 million planned for 2024–2028, focusing on infrastructure expansion and sustainability.