Koper, 28 February (STA) - The group around port operator Luka Koper plans to generate more sales revenue this year compared to 2018 but lower operating profit, EBITDA and net profit, with the latter expected to be cut by a third. The main reasons are the transition to a new hiring system and the new cargo transshipment fee.
Luka Koper chairman Dimitrij Zadel told a press conference on Thursday that the 2019 plan saw the group generating EUR 44m in operating profit and EUR 73m in earnings before interest, taxes, depreciation and amortisation (EBITDA).
Net profit is expected to stand at EUR 38m this year, which compares to EUR 60m last year.
Board member Irma Gubanec explained that the difference was primarily a consequence of Luka Koper receiving EUR 9.1m in compensation over the damage to a bridge crane caused by a ship during a storm.
The expected 2019 results will also be affected by the new fee on cargo transshipment, which will be introduced in March, and the transition to a new hiring model with less outsourcing and more own employees.
Board member Metod Podkrižnik added that the port operator expected the growth of transshipment to continue in 2019, with the plan being to reach the milestone of a million transshipped container units.
Asked about the expected cooling down of the car market, Podkrižnik said that the structure of vehicles transshipped by Luka Koper was dominated by luxury vehicles, whose orders were not expected to decrease.
The company has not signed a contract with Daimler for the next three years yet, but it hopes that the deal will be closed since the German partner is satisfied with their cooperation.
Luka Koper plans to considerably boost investment this year, to EUR 71.7m, including in an extension of the first pier, with the work expected to be launched in October, and construction of a parking garage for 5,000 vehicles.