Business News

Luka Koper to pay out EUR 15m in dividends

Koper, 26 August (STA) - The shareholders of port operator Luka Koper will get EUR 1.07 gross a share in dividends, the company's AGM decided on Wednesday. In total, EUR 14.98 million will be paid out, while EUR 15 million in profit will remain undistributed.

While the management wanted a smaller sum to be paid out, EUR 12.88 million or EUR 0.92 gross a share, the AGM confirmed a counter proposal filed by the Sovereign Holding (SSH).

A counter proposal was also lodged by the Small Shareholders' Association, which wanted that EUR 1.33 gross apiece or EUR 18.6 million be paid out. With the shareholders confirming the SSH's proposal, the other two were not put to a vote.

The AGM featured representatives of 76% of capital with voting rights, who also confirmed a discharge of liability for the management and the supervisors for last year.

The meeting focused mostly on the business report for 2019, when the group saw its net profit plummet by a third compared to 2018 to EUR 40 million.

CEO Dimitrij Zadel said the biggest challenge last year was the transition to a new business model, which saw the number of employees increase by more than 40% to 1,541. This increased labour cost by EUR 14 million, while the consequences of the global economy cooling had started to show towards the end of the year.

Zadel also commented on the group's H1 results for this year, saying the figures reflected a general decrease in transshipment due to the global coronavirus pandemic.

The group generated EUR 107 million in net revenue in the first six months of the year, 11% less than the year before, while net profit dropped by 40% to EUR 15 million.

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