LUKA KOPER D.D. 2022
NON-AUDITED REPORT ON PERFRMANCE OF LUKA KOPER GROUP AND LUKA KOPER, D. D., IN JANUARY - MARCH 2022
Luka Koper Group and Luka Koper, d. d.
2 | Interim report 2022 | Performance highlights of the Luka Koper Group in January - March 2022 |
Table of content | ||
Performance highlights of the Luka Koper Group in January - March 2022 ................................................. | ||
2 | Introductory note ............................................................................................................................................... | 8 |
3 | Presentation of Luka Koper Group................................................................................................................... | 9 |
4 | Significant events, news and achievements in January - March 2022.......................................................... | 11 |
5 | Relevant post-balance events......................................................................................................................... | 12 |
6 | Performance of Luka Koper Group in January - March 2022........................................................................ | 13 |
7 | Non-financialinvestments.............................................................................................................................. | 19 |
8 | Risk management ............................................................................................................................................ | 20 |
9 | Trading in LKPG............................................................................................................................................... | 22 |
10 | Sustainable development ............................................................................................................................... | 25 |
ACCOUNTING REPORT ........................................................................................................................................... | 29 | |
11 | Financial statements of Luka Koper, d. d., and Luka Koper Group .............................................................. | 29 |
12 | Notes to the separate financial statements ................................................................................................... | 35 |
13 | Additional notes Income Statement ............................................................................................................... | 37 |
14 | Additional notes to the Statement of Financial position................................................................................ | 42 |
15 | Statement of Management Board responsibility ........................................................................................... | 60 |
Performance highlights of the Luka Koper Group in January - March 2022 | Interim report 2022 | 3 |
BUSINESS REPORT
1 Performance highlights of the Luka Koper Group in January - March 2022
The beginning of 2022 saw an encouraging recovery of the global economy after Covid-19 pandemic, but in March 2022, a new shock resulting from the start of the war in Ukraine, followed in Ukraine. A direct exposure of the Luka Koper Group to Russia and Ukraine is relatively small, since the volume of throughput via the port of Koper destined to the markets Ukrainian and Russian markets, is insignificant. The throughput growth trend has been continuing also this year, and practically in all cargo groups, primarily in containers throughut, which presents additional challenges, especially as regards ensuring storage areas. This was additionally affected by slower containers turnover, which stay longer time in the port due to overcrowding of hinterland warehouses and irregular arrival of ships. The situation in the global maritime container shipping is still unstable. The ports around the world are facing ship delays, occupancy of storage areas, disruptions in the distribution, which has an impact on the whole logistic chain, on the land transport, which must adapt to this. At the end of April, The Federation of European Private Port Companies and terminals published the urge addressed to the European institutions to help the port activity to overcome this crisis, which was additionally worsened by the closure of the largest world port in Shanghai due to the Covid. The Federation forecasts that the closure of this Chinese port will affect the European ports for the next three or four months.
In the first quarter of 2022, Luka Koper Group did not perceive the negative consequences of the war and achieved good business results. Financial indicators of the Luka Koper Group achieved in the first quarter of 2022, were better than planned indicators and better than achieved ones in the first quarter of 2021. In the first quarter of 2022, the maritime throughput exceeded planned quantities by 10 percent, the throughput in 2021 by 18 percent and namely in all cargo groups. In March 2022, Luka Koper set a new monthly record in the container throughput when nearly 100 thousand TEU, container units, were transhipped. In 2022, the Luka Koper Group started thenimplementation of larger investments at the container terminal, which represent a new development cycle of this the most imporrtant strategic cargo group.
4 | Interim report 2022 | Performance highlights of the Luka Koper Group in January - March 2022 |
NET REVENUE FROM SALE
70.9 mio EUR
+23 % 2022/2021
+20 % 2022/PLAN 2022
EARNINGS BEFORE INTEREST AND TAXES (EBIT)
19.7 mio EUR
+101 % 2022/2021
+148 % 2022/PLAN 2022
MARITIME THROUGHPUT
5.9 mio TON
+18 % 2022/2021
+10 % 2022/PLAN 2022
CONTAINER THROUGHPUT
268.1 THOUSAND TEU
+4 % 2022/2021
+7 % 2022/PLAN 2022
CARS THROUGHPUT
176.9 THOUSAND UNITS
+5 % 2022/2021
+7 % 2022/PLAN 2022
EARNINGS BEFORE INTEREST AND TAXES, DEPRECIATION AND AMORTISATION (EBITDA)
27.4 mio EUR
+61 % 2022/2021
+76 % 2022/PLAN 2022
RETURN ON SALES (ROS) | EBITDA margin | ||||
27.9 % | 38.7 % | ||||
+63 % 2022/2021 | +30 % 2022/2021 | ||||
+107 % 2022/PLAN 2022 | +47 % 2022/PLAN 2022 | ||||
NET PROFIT OR LOSS | RETURN ON EQUITY (ROE) | ||||
16.5 mio. EUR | 14.0 % | ||||
+91 % 2022/2021 | +81 % 2022/2021 | ||||
+119 % 2022/PLAN 2022 | +115 % 2022/PLAN 2022 | ||||
INVESTMENT EXPENDITURE | NET FINANCIAL DEBT/ EBITDA | ||||
6.3 mio. EUR | 0.2 |
-65 % -40 %
2022/2021
2022/PLAN 2022
-0.1-0.3
2022/2021
2022/PLAN 2022
Performance highlights of the Luka Koper Group in January - March 2022 | Interim report 2022 | 5 |
Alternative performance measures
The Luka Koper Group also used alternative measures (APMs1 Guidelines), defined by ESMA2.
Alternative measure | Calculation | Explanation of the selection | ||||
Earnings before interest | Earnings before interest and | It shows the performance (profitability) of the | ||||
taxes(EBIT) = difference between | ||||||
and taxes (EBIT) | company's operaions from the core business. | |||||
operating income and costs. | ||||||
Earnings before interest and taxes, | A measure of the company's financial | |||||
Earnings before interest | performance and an approximation of the | |||||
depreciation and amortisation (EBITDA) | ||||||
and taxes, depreciation and | cash flow from operations. Shows the ability | |||||
= Earnings before interest and | ||||||
amortisation (EBITDA) | to cover write-downs and other non-operating | |||||
taxes(EBIT) + amortisation. | ||||||
expenses. | ||||||
Added value = net revenue from sale + capitalised own products and own
Added valueservices + other revenue - costs of goods, material, services - other
operating expenses excluding revaluation operating expenses .
Shows the newly created value of the company within one year. It is a measure of economic activity and success.
Return on sales (ROS) = Earnings | Shows the operational efficiency of the | |||||
Return on sales (ROS) | before interest and taxes(EBIT) / net | |||||
company. | ||||||
revenue from sale. | ||||||
Return on equity (ROE) = net income/ | Shows the management success in increasing | |||||
Return on equity (ROE) | the value of the company for the owners or | |||||
shareholder equity. | ||||||
shjareholders. | ||||||
Return on assets (ROA) | Return on assets (ROA) = net income / | Shows how a company manages its assets. | ||||
average total assets. | ||||||
EBITDA margin = Earnings before | Shows the business performance and | |||||
EBITDA margin | interest, taxes, depreciation and | profitability of market activity in percent. It is | ||||
amortisation (EBITDA) / net revenue | used to compare the company performance | |||||
from sale. | with other companies. | |||||
EBITDA margin from market activity = | ||||||
Earnings before interest and taxes, | ||||||
EBITDA margin from | Shows the business performance and | |||||
depreciation and amortisation (EBITDA) | ||||||
market activity | profitability of market activity un percent. | |||||
/ net revenue from sale from market | ||||||
activity.
Net financial debt/EBITDA = (Financial
Net financial debt/EBITDA liabilities - cash and cash equivalents) /
EBITDA.
Shows indebtedness and profitability of a company in order to assess the company's ability to settle its financial debts in the future if the company maintains the same volume of buisness and profit.
- APMs - Alternative Performance Measures
- ESMA - European Securities and Markets Authority - European Securities and Markets Authority
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Luka Koper dd published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 16:52:30 UTC.
