Port of Koper broke historical transshipment records in 2022
Last year was an exceptional year for the Luka Koper Group in all respects, as it exceeded all planned financial indicators as well as the indicators achieved in 2021, despite the challenging environment. Net sales revenues reached a record EUR 313.5 million, up 37% or EUR 85 million compared to the previous year.
The increase was mainly due to higher warehousing revenues, as a result of longer holding of goods in warehouses in the first half of 2022, followed by a gradual normalisation of the situation and lower revenue growth. The average dwell time of full containers at the terminal was 7.6 days last year, compared to just 5.5 days the year before. Last year’s higher revenues were also driven by higher service prices, higher productivity and increased volumes of throughput and ancillary services across all commodity groups. This also had a positive impact on the EBIT, which at EUR 83.1 million was 165% (EUR 51.8 million) ahead of 2021.
The Group’s operating expenses were also up by more than 16% at EUR 234.7 million, mainly due to higher costs of materials and services and labour costs, which did not have a material impact on the net result. The net profit for 2022 was a record EUR 74.2 million, up 133% or EUR 42.4 million compared to the net profit for 2021.
Exceptional year ended by several record-breaking results
Despite the difficult economic situation, total maritime throughput reached 23.2 million tonnes, up 12% or 2.4 million tonnes on 2021 and 2% ahead of plan. Compared to the previous year, growth in throughput was recorded in all commodity groups. At the Container Terminal, we set a new annual record with 1,017,788 TEUs handled, while at the same time becoming the first port in the Adriatic to surpass the historic mark of one million TEUs handled in a single year. Container throughput was slightly lower than planned, but still achieved a 2% growth compared to 2021. 2022 was also a record year at the Car Terminal, where we handled 801,036 vehicles, 7% more than planned and 22% more than in 2021. The highest throughput in history was also achieved at the General Cargo, Dry Bulk and Liquid Cargoes Terminals. In the dry bulk segment, we handled 6.2 million tonnes of cargo and recorded a 12% growth compared to 2021, mainly due to higher throughput of salt (used for road gritting), aluminium ore and soybeans. The highest growth, 39%, was achieved in liquid cargoes, with 4.6 million tonnes of cargo handled, mainly petroleum products, jet fuel and chemicals. In general cargoes commodity group, we handled 1.3 million tonnes of goods last year, 16% more than the previous year. An increase was registered in steel products (mainly due to production in the automotive industry), white goods, and construction materials industries, as well as rubber and project/special cargoes.
The current situation on the Slovenian railway infrastructure also had an impact on slightly different ratio of freight transported by rail and road. Compared to 2021, when 42% of freight was transported by road and 58% by rail, the share of freight transported by road increased to 46% and by rail decreased to 54% in 2022.
50.8 million euros earmarked for investments
In 2022, Luka Koper Group made major investments mainly at the Container Terminal and Car Terminal area, which represent a new development cycle for two of the company’s most important strategic commodity groups.
“Last June, we completed one of the biggest investments in recent years – the extension of the southern part of Pier 1, equipping it with two new super post-panamax cranes and three electric bridge cranes for cargo handling in the storage areas (RTG). In addition, a new general cargo warehouse was built at Pier 2 and the construction of a new Truck Terminal continued. At the end of the year, we started to develop the so-called cassette 5A area, where new car storage areas will be built by the end of 2023.” said in a companys statement.