LJUBLJANA (Slovenia), August 29 (SeeNews) – Slovenian logistics company Intereuropa [LJE:IEKG] said on Thursday its consolidated net profit rose 14% on the year to 3.1 million euro ($3.4 million) in the first half of 2019.
Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled 7.1 million euro in January-June, up 3% year-on-year, Intereuropa said in a statement filed with the Ljubljana Stock Exchange.
Earnings before interest and taxes (EBIT) amounted to 3.8 million euro, an increase of 2% relative to the first half of last year.
The group generated sales revenue of 80.6 million euro during the first half of 2019, slightly up from 80.2 million euro last year but 5% below plan.
Intereuropa plans to generate 169.5 million euro in sales revenue in 2019.
In the January-June period, the group's sales revenue was only up relative to the same period last year in the logistics solutions segment, the group said, adding that the highest growth in the land transport segment was recorded in groupage, while a decrease in sales revenue was recorded in road and railway transport and customs services.
“This was largely the result of a drop in orders from the automotive industry in the road transport segment, while a lack of free freight wagons in Ukraine had a significant impact on the drop in sales in the railway transport segment,” Intereuropa noted.
“Sales of all products in the intercontinental transport segment were down relative to the same period last year, most notably air freight, as the result of a drop in shipments from Eastern markets, a change in the structure of shipments (a decrease in the volume of larger shipments and growth in smaller shipments) and a drop in freight rates.”
Investment in fixed assets during the first half of 2019 totalled 1.2 million euro, a decrease of 8% relative to the same period last year.
Intereuropa's shares closed at 2.52 euro on the Ljubljana Stock Exchange on Thursday, unchanged from the previous session.
($=0.90206 euro)