Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 1
Annual
Report
2023
Luka Koper Group
and Luka Koper, d. d.
2 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
Statement of Management’s
Responsibility
1
The Management Board of Luka Koper, d. d., is responsible for the preparation of the Annual Report hereof,
including the financial statements and notes thereto, that give a true and fair view of the financial position of Luka
Koper, d. d., and the Luka Koper Group as of 31 December 2023 and of their financial performance for the year then
ended.
The Management Board confirms that the Annual Report for the Luka Koper Group and Luka Koper, d. d., for 2023
with all its component parts: Management Report, Sustainability Report, Accounting Report, including the
Corporate Governance Statement, has been devised and published pursuant to the legislation in force and
International Financial Reporting Standards.
The Management Board confirms that accounting policies were consistently applied and that the accounting
judgements were made under the principle of prudence and due diligence of a good manager.
The Management Board further confirms that the financial statements of the Company and the Group have been
compiled under the assumption of a going concern of the parent and its subsidiaries and in accordance with the
applicable legislation and International Financial Reporting Standards as adopted by the EU.
The Tax Authorities may, at any time within a period of 5 years after the end of the year for which tax assessment
was due, carry out an audit of the Company operations, which may lead to assessment of additional tax liabilities,
default interest, and penalties with regards to corporate income tax or other taxes and duties. The Management
Board is not aware of any circumstances that could give rise to any significant liability on this account.
The Management Board is responsible for adopting measures to secure the assets of Luka Koper, d. d., and the
Luka Koper Group, and to prevent and detect fraud and other irregularities or illegal acts.
Members of the Management Board:
Nevenka Kržan
President of the Management Board
Gregor Belič
Member of the Management Board
Gorazd Jamnik
Member of the Management Board
Vojko Rotar
Member of the Management Board - Worker Director
Koper, 9 April 2024
1
GRI 2-12, 2-14
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 3
Table of content
BUSINESS REPORT ................................................................................................................................................. 5
1 Business performance highlights of the Luka Koper Group in 2023 ............................................................. 5
2 Letter of the President of the Management Board ........................................................................................ 16
3 Report of the Supervisory Board for 2023 ...................................................................................................... 20
4 Corporate Governance Statement .................................................................................................................. 26
5 Survey of relevant events, novelties and achievements in 2023 ................................................................... 47
6 Relevant events after the end of the financial year........................................................................................ 51
7 Presentation of the Luka Koper Group and a description of the business model........................................ 52
8 Business development strategy ..................................................................................................................... 57
9 Economic environment and market position .................................................................................................. 60
10 Performance of the Luka Koper Group in 2023 ............................................................................................. 62
11 Investments in non-financial assets............................................................................................................... 69
12 European projects ........................................................................................................................................... 71
13 A look ahead ..................................................................................................................................................... 72
14 Managing risks and opportunities.................................................................................................................. 75
15 The LKPG Share ............................................................................................................................................... 81
SUSTAINABILITY REPORT ...................................................................................................................................... 86
16 On the Sustainability Report ............................................................................................................................ 87
17 Process to determine material topics ............................................................................................................ 90
18 Luka Koper Group and sustainable development guidelines ........................................................................ 97
MANAGING THE ENVIRONMENTAL IMPACTS OF SUSTAINABLE DEVELOPMENT ............................................... 102
19 Long-term sustainability of the natural environment ................................................................................ 104
MANAGING SOCIAL IMPACTS OF SUSTAINABLE DEVELOPMENT ....................................................................... 190
20 Safe and healthy port environment .............................................................................................................. 192
21 Care for employees ....................................................................................................................................... 201
22 Social responsibility ....................................................................................................................................... 216
23 Sustainable relationship with customers ..................................................................................................... 219
24 Digital transformation ................................................................................................................................... 220
MANAGING GOVERNANCE IMPACTS OF SUSTAINABLE DEVELOPMENT ............................................................ 222
25 Stability and business performance ............................................................................................................. 224
26 Sustainable relationship with suppliers ....................................................................................................... 229
27 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights ............................ 232
28 Information Systems Security ...................................................................................................................... 241
29 GRI content index (according to 2021 standards) ........................................................................................ 243
FINANCIAL STATEMENT ...................................................................................................................................... 259
30 Financial statements of Luka Koper, d. d. and Luka Koper Group ............................................................. 259
31 Notes to Financial Statements ...................................................................................................................... 265
32 Summary of significant information on accounting policies ....................................................................... 269
33 Additional Notes to the Income Statement .................................................................................................. 282
34 Additional Notes to the Statement of Financial Position ............................................................................. 288
4 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
35 Statement of Accumulated Profit ................................................................................................................. 330
36 Relevant events after the end of the financial year...................................................................................... 331
37 Independent Auditor’s Report ....................................................................................................................... 332
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 5
BUSINESS REPORT
1 Business performance highlights of the
Luka Koper Group in 2023
The Luka Koper Group concluded another very successful year. Business results exceeded expectations, with new
milestones reached in cargo throughput and records set in several segments.
Net sales in 2023 amounted to EUR 312.8 million, which was on a par with the level of revenue achieved in 2022.
Within net sales, revenue increased by EUR 20 million due to greater container and car transhipment, greater
volume of loading and unloading of containers, greater volume of other additional services on goods and higher
service prices. Compared to the previous year, due to the normalisation of the situation on the global logistics
market and the shortening of the storage time of containers in the storage facility, revenues from storage fees
decreased by EUR 21 million. In 2023, earnings before interest and taxes (EBIT) amounted to EUR 60.9 million,
which was a decrease of 27 percent or EUR 22.2 million when compared to 2022. The main contributor to the lower
earnings before interest and taxes (EBIT) in 2023 was lower storage fees, while higher operating costs of EUR 23.3
million, which were due to inflationary pressures and higher number of employees and agency workers, were
mostly offset by the Luka Koper Group with revenues from other services.
Record throughput volumes were achieved in 2023 in both strategic commodity groups, containers and cars, as
well as in the passenger terminal, the reefer terminal and the liquid cargo terminal. In the container segment,
1,066,093 container TEUs were handled in 2023, an increase of 5 percent compared to 2022. Car transhipment in
2023 amounted to 916,728 cars (in pieces), an increase of 14 percent compared to 2022. Luka Koper, d. d., has thus
consolidated its position and confirmed its primacy among ports in the northern Adriatic (containers) and the
Mediterranean (cars). The passenger terminal welcomed 120,553 passengers to the port in 2023, surpassing the
2019 figure of 115,581. The total maritime throughput, measured in tons, was 4 percent lower than that achieved in
2022, mainly due to a 15 percent lower throughput of general cargo and a 15 percent lower throughput of the dry
bulk and bulk cargoes commodity group. In the general cargo group, there was lower throughput of steel products
and rubber, and in the dry bulk and bulk cargoes group, lower throughput of soya beans, alumina, phosphates, coal
and iron ore. In 2023, 48 percent of freight was transported by road, and 52 percent by rail. In 2023, the ratio changed
by 2 percentage points compared to 2022, with an increase in road transport.
In 2023, most of the planned financial indicators were exceeded. Net sales revenues were higher than planned by
8 percent, or by EUR 22.7 million. The main contributor to the higher net sales was storage fee income, which
exceeded the planned figure by EUR 19 million, as the business plan had foreseen a reduction in the dwell time of
containers due to the calming market conditions. Earnings before interest and taxes (EBIT) were higher than
planned by 76 percent, or by EUR 26.4 million. In addition to the higher net sales revenue, the higher earnings
before interest and taxes (EBIT) were positively impacted by lower material, labour and depreciation costs, while
the higher cost of services was due to an increase in the cost of port services linked to the higher throughput on
the car commodity group and the cost of labour placement agencies. According to the plan, the throughput of the
cars commodity group (in pieces) was higher by 21 percent, while the throughput of the of containers commodity
group (in TEUs) lagged behind the plan by two percent. The total maritime throughput, measured in tons, was 5
percent less than the planned quantities.
The year 2023 began optimistically, indicating the recovery of the global economy. The situation on the energy
markets calmed down, energy prices fell, and global GDP growth was stronger than expected. However, global
economic growth moderated later in the year. Towards the end of 2023, the impact of the tight financial situation,
weak trade growth and lower business and consumer confidence was felt increasingly. Heightened geopolitical
tensions have again been fuelling uncertainty about the short-term outlook.
6 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
The situation in logistics and supply chains has been further worsened with the start of the Red Sea attacks,
affecting all stakeholders in logistics, including the final customers of goods in industrial production who depend
on maritime transport through the Suez Canal. Due to the rerouting of ships around Africa, some of the Far Eastern
shipping services of Luka Koper d. d., are experiencing delays in the arrival of ships, as transit times have been
extended by an average of 10 to 14 days. Indirectly, the delay also affects ships transporting cargo across the
Mediterranean via transhipment (hub) ports. In December 2023, there were no significant impacts on business
operations. However, due to the above-mentioned uneven distribution of cargo arrivals, delays in the arrival of ships
or cargo will be reflected in the realisation of monthly transhipment plans in the first three months of 2024. If the
situation does not normalise in the coming months, this could also have an impact on decisions by
shipowners/customers to change established transport routes from the Far East to Europe, which could be
reflected in smaller volumes of transhipment on arrival.
In 2023, several major investments for the Luka Koper Group were completed, namely the redevelopment of the
storage areas in the area of the 5A cassette, the construction of new plugs for reefer containers, the construction
of a new external truck terminal at the Sermin entrance, the modernisation of the cooling and extinguishing system
at the methanol tanks, and the construction of a transformer substation to power the new galleries. Among the
most important investment projects underway are the construction of the 12th berth and the installation of solar
power plants, the execution of a public contract for warehouse No 54 and the preparation of documentation and
obtaining the relevant permits for the extension of the northern part of Pier I and the development of other areas
for the container terminal.
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 7
2023 in numbers
22.3 million tons
unloaded from and loaded on ships
1,066,093 TEU
containers unloaded from and loaded on ships
916,728 cars
unloaded from and loaded on ships
20,609
trains arrived in and departed from the port
422,811
trucks arrived in the port
262,583
wagons unloaded and loaded
1,642
ships moored
52% share of railway transhipment
48% share of road transhipment
8 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
NET SALES
EUR 312.8 million
+8% 2023/PLAN 2023
0% 2023/2022
MARITIME THROUGHPUT
22.3 million TON
-5% 2023/PLAN 2023
-4% 2023/2022
CONTAINER THROUGHPUT
1.1 million TEU
-2% 2023/PLAN 2023
+5% 2023/2022
CAR THROUGHPUT
916.7 THOUSAND PIECES
+21% 2023/PLAN 2023
+14% 2023/2022
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 9
EARNINGS BEFORE INTEREST AND
TAXES (EBIT)
EUR 60.9 million
+76% 2023/PLAN 2023
-27% 2023/2022
RETURN ON SALES (ROS)
19.5%
+64% 2023/PLAN 2023
-27% 2023/2022
EARNINGS BEFORE INTEREST, TAXES,
DEPRECIATION AND AMORTISATION
(EBITDA)
EUR 93.7 million
+37% 2023/PLAN 2023
-18% 2023/2022
EBITDA margin
30,0%
+27% 2023/PLAN 2023
-18% 2023/2022
10 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
NET PROFIT OR LOSS
EUR 56.4 million
+75% 2023/PLAN 2023
-24% 2023/2022
PRICE-TO-EARNINGS RATIO (P/E)
8.3
+3.6 2023/2022
INDICATOR NOT PLANNED
RETURN ON EQUITY (ROE)
10.7%
+67% 2023/PLAN 2023
-29% 2023/2022
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 11
INVESTMENTS
EUR 41.5 million
-29% 2023/PLAN 2023
-18% 2023/2022
NET FINANCIAL DEBT / EBITDA
0.3
-0.7% 2023/PLAN 2023
+0.6 2023/2022
12 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
Alternative performance measures
The Luka Koper Group used alternative performance measures (APM Guidelines
2
)) defined by ESMA to
demonstrate business performance
3
.
Alternative measure
Calculation
Explanation of the selection
Earnings before interest
and taxes (EBIT)
Earnings before interest and taxes
(EBIT) = difference between operating
income and costs.
It shows the performance (profitability) of the
company's operations based on its core
business.
Earnings before interest,
taxes, depreciation and
amortisation (EBITDA)
Earnings before interest, taxes,
depreciation and amortisation (EBITDA)
= earnings before interest and taxes
(EBIT) + amortisation.
It is measure of a company's financial
performance and an approximation of the
cash flow from operations. Shows the ability
to cover write-downs and other non-operating
expenses.
Added value
Added value = net sales + capitalised
own products and services + other
revenue – costs of goods, material,
services – other 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)
Return on sales (ROS) = earnings
before interest and taxes (EBIT) / net
sales
Shows the operational efficiency of the
company.
Return on equity (ROE)
Return on equity (ROE) = net income /
shareholder equity.
Shows the management’s success in
increasing the value of the company for the
owners or shareholders.
Return on assets (ROA)
Return on assets (ROA) = net income /
average total assets.
Shows how a company manages its assets.
EBITDA margin
EBITDA margin = earnings before
interest, taxes, depreciation and
amortisation (EBITDA) / net sales
Shows business performance and profitability
in percent. Used to compare the company
performance with other companies.
EBITDA margin from
market activity
EBITDA margin from market activity =
earnings before interest, taxes,
depreciation and amortisation (EBITDA)
/ net sales from market activity
Shows the business performance and
profitability of market activity in percent.
Net financial debt / EBITDA
Net financial debt / EBITDA = (financial
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
business and profit.
Price-to-earnings ratio
(P/E)
Current share price to earnings per
share (P / E) ratio = closing price /
earnings per share (EPS).
Shows how many euros investors in the
market are willing to pay at a given moment
for each euro of the company's profit. Used to
estimate the value of the company and its
shares on the market.
Book value per share as at
(in EUR)
Book value per share = equity / number
of shares.
Shows the value of a share based on the value
of the company's capital on a given day.
Price-To-Book (P/B Ratio)
Price-To-Book (P/B Ratio) = closing
price / book value of the share.
Shows a comparison of the market value of a
unit of the company's capital on the stock
exchange with its accounting value on a given
day.
2
APMs – Alternative Performance Measures
3
ESMA - European Securities and Markets Authority
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 13
Earnings per share (EPS)
Earnings per share (EPS) = net
earnings / number of shares.
Expresses a ratio that represents the amount
of the company's net profit that it generates
on each individual share. A measure of a
company's performance (profitability).
Market capitalisation
Market capitalisation = closing price *
number of shares.
Market value of all shares on the market.
Dividend per share (in EUR)
Dividend per share = balance sheet
profit used to pay dividends / number of
ordinary shares.
A dividend shows the participation in a
company's profits that is paid out to the
company's shareholders.
Dividend yield (in %)
Dividend yield = dividend per share /
closing price on the last trading day of
the year
Expresses the ratio between the dividend paid
and the market value of the stock.
14 Annual report 2023 Business performance highlights of the Luka Koper Group in 2023
1.1 Key performance indicators
The key performance indicators of Luka Koper, d. d., and the Luka Koper Group in 2023 compared to 2022
Luka Koper, d. d.
Luka Koper Group
Items
2023
2022
Index
2023/
2022
2023
2022
Index
2023/
2022
Net sales (in EUR)
309,284,223
310,196,680
100
312,772,489
313,462,636
100
Earnings before interest and taxes
(EBIT) (in EUR)
59,233,239
81,729,523
72
60,912,423
83,114,534
73
Earnings before interest, taxes,
depreciation and amortisation (EBITDA)
(in EUR)
91,496,341
112,529,369
81
93,731,962
114,602,528
82
Net profit or loss (in EUR)
54,450,022
73,266,227
74
56,445,369
74,159,799
76
Added value (in EUR)
193,214,462
206,107,197
94
203,608,146
215,843,817
94
Capital expenditure (in EUR)
41,259,790
50,157,229
82
41,543,822
50,784,443
82
Maritime throughput (in tons)
22,267,534
23,248,795
96
22,267,534
23,248,795
96
Number of employees
4
1,757
1,638
107
1,922
1,801
107
Indicators
2023
2022
Index
2023/
2022
2023
2022
Index
2023/
2022
Return on sales (ROS)
19.2%
26.3%
73
19.5%
26.5%
74
Return on equity (ROE)
11.0%
16.1%
68
10.7%
15.1%
71
Return on assets (ROA)
7.8%
11.6%
67
7.7%
11.1%
69
EBITDA margin
29.6%
36.3%
82
30.0%
36.6%
82
EBITDA margin from market activity
30.4%
37.1%
82
30.8%
37.4%
82
Financial liabilities/equity
21.8%
13.3%
164
20.3%
12.3%
165
Net financial debt/EBITDA
0.6
-0.05
-
0.3
-0.3
-
Items
31.12.2023
31.12.2022
Index
2023/
2022
31.12.2023
31.12.2022
Index
2023/
2022
Assets (in EUR)
733,439,080
662,680,856
111
774,226,552
701,154,228
110
Equity (in EUR)
505,347,400
480,225,780
105
543,052,948
515,732,169
105
Financial liabilities (in EUR)
110,134,003
63,801,193
173
110,018,551
63,680,089
173
4
Balance on the last day of the reporting period.
Business performance highlights of the Luka Koper Group in 2023 Annual report 2023 15
The key performance indicators of Luka Koper, d. d., and the Luka Koper Group in 2023 compared to the plan for 2023
Luka Koper, d. d.
Luka Koper Group
Items
2023
Plan 2023
Index
2023/
Plan 2023
2023
Plan 2023
Index
2023/
Plan 2023
Net sales (in EUR)
309,284,223
287,440,777
108
312,772,489
290,071,036
108
Earnings before interest and taxes
(EBIT) (in EUR)
59,233,239
33,439,720
177
60,912,423
34,543,649
176
Earnings before interest, taxes,
depreciation and amortisation (EBITDA)
(in EUR)
91,496,341
66,283,553
138
93,731,962
68,204,522
137
Net profit or loss (in EUR)
54,450,022
31,296,435
174
56,445,369
32,312,492
175
Added value (in EUR)
193,214,462
171,970,438
112
203,608,146
181,818,611
112
Investment expenditure (in EUR)
41,259,790
57,390,573
72
41,543,822
58,853,168
71
Maritime throughput (in tons)
22,267,534
23,333,878
95
22,267,534
23,333,878
95
Number of employees
1,757
1,754
100
1,922
1,917
100
Indicators
2023
Plan 2023
Index
2023/
Plan 2023
2023
Plan 2023
Index
2023/
Plan 2023
Return on sales (ROS)
19.2%
11.6%
166
19.5%
11.9%
164
Return on equity (ROE)
11.0%
6.7%
164
10.7%
6.4%
167
Return on assets (ROA)
7.8%
4.7%
166
7.7%
4.6%
167
EBITDA margin
29.6%
23.1%
128
30.0%
23.5%
128
EBITDA margin from market activity
30.4%
24.1%
126
30.8%
24.6%
125
Financial liabilities/equity
21.8%
23.4%
93
20.3%
21.7%
94
Net financial debt/EBITDA
0.6
1.4
43
0.3
1.0
30
Items
31.12.2023
Plan 31 Dec
2023
Index
2023/
Plan 2023
31.12.2023
Plan 31 Dec
2023
Index
2023/
Plan 2023
Assets (in EUR)
733,439,080
687,353,233
107
774,226,552
726,942,642
107
Equity (in EUR)
505,347,400
471,426,149
107
543,052,948
508,896,695
107
Financial liabilities (in EUR)
110,134,003
110,317,094
100
110,018,551
110,291,679
100
16 Annual report 2023 Letter of the President of the Management Board
2 Letter of the President of the
Management Board
5
Dear shareholders and business partners, dear colleagues,
2023 was a dynamic and challenging year in every respect. Despite different forecasts, the world economy has
recovered more slowly than expected. The complex logistics situation that characterised 2022 continued in the first
half of last year, which was reflected in the delays in the arrival of container ships on direct connections with the
Far East and with ports in the Mediterranean, as well as in gradual reduction of freight fares. Shipowners were
forecasting reduced services from the Far East at the end of the year, while ports in Europe were faced with high
occupancy of car terminals. The escalation of the conflict in the Middle East, which already led some shipowners
to temporarily divert their ships to the route around Africa in December, has brought an additional threat to the
established flows of goods coming through the Suez Canal. Extraordinary weather conditions brought quite a few
challenges last year, the consequences of which were also felt in the port of Koper.
Despite the circumstances, 2023 was a successful year for the companies in the Luka Koper Group, with growth in
throughput recorded in both strategic commodity groups. Net sales amounted to EUR 312.8 million, which was 8%
ahead of plan. Revenues increased due to higher container and car throughput, a larger volume of container loading
and unloading services, additional services, and higher prices, while storage fee revenues decreased due to the
normalisation of the global logistics market and the reduction of container dwell times in storage facilities. This
affected both earnings before interest and taxes (EBIT), which at EUR 60.9 million was 76 percent ahead of plan, as
well as the net operating result of EUR 56.4 million, which was 75 percent ahead of plan, also due to the higher
profit from financing.
Record throughput in various commodity segments
Although we were somewhat cautious in our forecasts for cargo throughput in 2023, we concluded the year above
all expectations in this segment as well. We achieved record volumes for both strategic commodity groups –
containers and cars, at the passenger terminal, the reefer terminal and the liquid cargo terminal.
In early December, we reached one million transhipped container units (TEU) at the container terminal for the
second time in the port’s history. We also had an excellent performance at the car and Ro-Ro terminal, where in
November, we broke the absolute record for vehicle throughput set in 2022. We closed the year at the container
terminal with a throughput of 1,066,093 container units (TEU), which is 5 percent more than in 2022, and in the
automotive segment with a throughput of 916,728 cars (in pieces), which is 14 percent more than in 2022. We have
thus consolidated our position and confirmed our primacy among ports in the northern Adriatic (containers) and
the Mediterranean (cars). The results achieved in the vehicle segment are also exceptional in comparison to key
automotive terminals in Europe, as we achieved one of the highest growth rates for this commodity group. We also
closed the cruise ship arrival season with a new record number of passengers (120,553), and in September, we
welcomed our one millionth guest.
Otherwise, the total shipping throughput of 22.3 million tonnes was slightly lower compared to 2022, mainly due to
lower throughput of steel products and rubber and soya, alumina, phosphates, coal and iron ore.
Additional storage areas and a new truck terminal
In 2023, we continued to actively focus on investment, concluding several important projects in the framework of a
EUR 41.5 million development cycle. In the middle of the year, we dedicated new storage space for 3,500 vehicles
in the back of Basin III, bringing the total capacity of the car and Ro-Ro terminal to 46,500 vehicles. We have installed
new plugs for refrigerated containers at the container terminal and the reefer terminal - the new infrastructure
allows, among other things, containers to be stacked up to five levels, making better use of the space within the
port. Among the major investments we successfully completed was the construction of a new external truck
terminal at Sermin, which is considered one of the most modern facilities in terms of both infrastructure and
5
GRI 2-14, 2-22, 2-25
Letter of the President of the Management Board Annual report 2023 17
services. In addition, we have successfully upgraded the port's fire-fighting and power systems and implemented
a paperless system for the check-in of freight vehicles at the car terminal.
The activities of the SOPOREM project began last year, within which we will build two 3-megawatt solar power
plants on the roofs of general cargo warehouses by the end of 2024. Thus, we will increase the share of energy
produced from renewable sources to 10 percent, and with the investments we are planning in the future, we will
even double it. By 2025, we intend to cover three more storage facilities with solar panels, bringing the total nominal
capacity to 7 megawatts, thus ensuring greater energy independence. Last year, we also successfully completed
another European project - 5G Loginnov, as part of which we developed and tested the next generation 5G mobile
network for the needs of port services and logistics. This year, we also successfully applied to obtain our own 5G
frequency.
We will remain development-oriented in 2024. Early this year, we initiated the much anticipated construction of the
12th general cargo berth and the procurement procedure to select the contractor for the construction of the
automated warehouse No 54 for steel products. Documentation and permits are being prepared for the extension
of the northern part of Pier I and the development of additional areas for the container terminal. This is one of the
largest and most important infrastructure projects in the port of Koper, which will increase the terminal's capacity
to 1.75 million TEU per year. Equally important is the investment to provide additional storage capacity for the needs
of the car terminal, which, according to the plan, continues already in 2024.
As we emphasised repeatedly, we cannot imagine the further development of the port without a reliable, stable
and, above all, fully operational rail link to the hinterland. The second track construction project is already in full
swing, with completion expected in 2026. In Luka Koper, we hope to upgrade the project as soon as possible by
introducing a parallel (third) railway track, which will ensure better flow and even greater capacity of the railway
link between the Slovenian hinterland with Koper. The importance of a reliable rail link for Slovenian logistics is
also demonstrated by the volumes of freight transported both by rail and road. Despite the fact that the major share
of freight still travels to and from our port by rail, due to capacity constraints and delays in the Slovenian rail
network, the share of rail freight has fallen to 52 percent in 2023.
EUR 785 million for development and capacity building
Last year, we also adopted a new strategic business plan for the company and the Luka Koper Group for the period
from 2024 to 2028. Over the next five years, our mission will be to provide reliable, high-quality port services in line
with sustainable development guidelines - with the aim of becoming the first choice among ports on the European
southern transport route. The planned development of the port will be based on four key points of departure, which
envisage an increase in infrastructural capacities, accelerated introduction of the smart port concept, provision of
an adequate personnel structure, and care for sustainable aspects and reduction of negative impacts on the
environment and society. In line with the Group's strategy, Luka Koper continues to maintain the multi-purpose
port model, which is one of the key competitive advantages of our company.
We will pay particular attention to infrastructure development and capacity building, and for this purpose we will
invest EUR 785 million. We will be active in obtaining funds for investment projects with an emphasis on building
infrastructure to supply ships with electricity directly from the shore. We will continue our digital transformation
process, which aims to automate and optimise key processes, and take further steps towards the climate transition.
In this context, we will work to maintain environmental sustainability standards (EMAS), reduce the company's
carbon footprint and increase energy self-sufficiency through renewable energy sources.
Focus on sustainable development projects and care for the environment
Recognising our responsibility towards the environment we live in, we take into account different views and
perspectives when planning the development of the port and strive to achieve the highest environmental and social
standards. In addition to regular monitoring of noise, light, and dust particles emissions and the quality of marine
and groundwater, we have started to modernise and electrify the port machinery in recent years and relocated
older and noisier machinery to parts of the port further away from areas of major population. In the coming years,
we plan to replace diesel-powered machines and vehicles entirely with electrified ones. In cooperation with Eles,
we have actively engaged in a project to build a 110,000-volt transmission line from Dekani to the port and a
substation within the port, which is a prerequisite to electrify the quayside and provide ships with uninterrupted
electricity. This project is important not only in terms of the increasing electricity use, but it is also one of the key
projects of the climate transition.
18 Annual report 2023 Letter of the President of the Management Board
One such is the introduction of the ESI scheme, on the basis of which, from January 2023, we offer ships with lower
emissions of air pollutants an advantage in port dues. Based on this, we aim to attract to the port ships with state-
of-the-art engines and cleaner propulsion systems, thus additionally reducing emissions into the atmosphere.
The environment is also the people who live in it, so it is important that our development is aligned with the
development of the local community and its needs. With this in mind, Luka Koper, d. d., and the Municipality of
Koper signed a Letter of Intent and agreed on the implementation of mitigation measures in July 2018, which was
materialised by the signing of an agreement on the implementation of mitigation measures to reduce the
environmental impacts of port activities in November 2019. On this basis, Luka Koper, d. d., paid the municipality
of Koper a dedicated donation totalling EUR 1,000,000 in the period from 2020 to 2023. At the end of 2023, we signed
a new agreement with the municipality, according to which will provide an additional EUR 1.6 million for the
implementation of mitigation measures over the next five years. Last year, we realised another project with the
Municipality of Koper - the landscaping and greening of green spaces in the Old Town, for which we allocated a
grant of EUR 40,000.
In June, in the margins of an expert conference on port decarbonisation and digitisation, the North Adriatic Ports
Association (NAPA) signed a memorandum with which they pledged to jointly boost port decarbonisation and energy
efficiency. The Memorandum paves the way for greater institutional and operational cooperation between the ports
of the Northern Adriatic in the coming years.
Caring for the local and wider environment
Our responsibility towards the environment and people is also demonstrated by our support for sports, cultural,
charitable and other associations and organisations operating in the area, as confirmed by EUR 1.43 million
allocated by Luka Koper to sponsorships and donations in 2023. We distribute part of this through the Living with
the Port Fund, which prioritises support for small local projects in the field of sustainable development and
environmental care. This year, a significant part of these funds was also allocated to help with the aftermath of the
August floods across Slovenia. In a joint campaign with Adria Terminali and Goriške Opekarne, we donated
equipment and industrial dehumidifiers as well as 241 pallets of bricks to flood victims to rebuild damaged or
completely destroyed buildings in the flood area. At the end of the year, we decided to make a dedicated donation
of EUR 200,000 for the same purpose, which was paid to the State in early 2024 and will be given to those who need
help the most.
Organized working environment and responsible relationship with employees
We are convinced that a company can only base its success story on its employees, the colleagues who are the
heart and soul of every team. Therefore, we consistently make sure to provide a pleasant, stimulating and, above
all, safe working environment and, by providing good working conditions, allow our employees to perform their
work efficiently and to a high standard. We design and implement projects together, encouraging and supporting
each other, but most importantly, we know how to listen to each other, and we respect and trust each other. We
respect the rights of employees to freedom of association, membership in trade unions and the Works Council,
maintaining good relations with these associations. Recognising that honest relations are the basis for effective
work and employee satisfaction, we invest a great deal of effort in regular, frank and respectful communication at
all levels.
We are consistent in our respect for gender equality and condemn any discrimination in the workplace, while also
paying particular attention to respecting the legal rights of older workers with regard to overtime, night work and
additional annual leave days. In 2023, we switched to a new rotating schedule for some work processes, which gives
employees more flexibility, makes it easier to plan their working hours and gives them more time off to spend with
their families. We offer support to employees in proceedings before the disability commission in finding suitable
jobs, and in this respect we successfully cooperate with the disability company Luka Koper INPO, d. o. o.
In 2023, Luka Koper Group established an updated secure channel for internal or external reporting of
irregularities, while we keep supporting any expression of suspicion, in good faith or on the basis of reasonable
belief, and ensuring that the whistleblower is protected from any punishment or retaliatory measures. Each natural
or legal person may address to the Corporate Integrity and Operations Compliance, Personal Data Protection and
Human Rights Officer a report of corporate integrity violations for which the Officer is responsible. In January 2024,
the company was also successfully audited for the ISO 37001/2016 Management System for the Prevention of
Corruption certification.
Letter of the President of the Management Board Annual report 2023 19
Since 2019, Luka Koper, d. d., has been a signatory to the Commitment to Respect Human Rights. The company is
active within the working group of the Government of the Republic of Slovenia for the implementation of the National
Action Plan on Business and Human Rights (NAN). With this commitment, the company also follows the
recommendations and expectations of SSH, which expects companies with state-owned assets to implement the
relevant principles of the National Action Plan of the Republic of Slovenia on Business and Human Rights and to
set an example to other companies in terms of respect for human rights. The existing Staff Dignity Protection Policy
is in the final stages of revision and will be transformed into a Policy on Prevention of Harassment and Ill-treatment
in the Workplace.
Heightened geopolitical tensions once again fuelling uncertainty about the short-term outlook
The situation in logistics and supply chains has been further worsened with the start of the Red Sea attacks,
affecting all stakeholders in logistics, including the final customers of goods in industrial production who depend
on maritime transport through the Suez Canal. Due to the rerouting of ships around Africa, transit times have
increased by an average of 10 to 14 days, which is why most ship services from the Far East arrive in Koper with a
delay. Indirectly, longer transit times also affect ships transporting cargo across the Mediterranean via
transhipment (hub) ports. No significant impact on operations was observed in December 2023, but due to the
above-mentioned uneven distribution of cargo arrivals, delays in the arrival of ships or cargo will be reflected in
the realisation of monthly transhipment plans in the first three months of 2024. If the situation does not normalise
in the coming months, this could also have an impact on decisions by shipowners/customers to change established
transport routes from the Far East to Europe, which could be reflected in smaller volumes of transhipment on
arrival.
The company's full board of directors
On 30 November 2023, the Supervisory Board of the Company, at its ordinary meeting, appointed Gregor Belič and
Gorazd Jamnik as new members of the Management Board of the Company, who will take office on 1 January 2024
for a five-year term. Nevenka Kržan remains on the Management Board as President and Vojko Rotar as Member
of the Management Board - Worker Director.
Nevenka Kržan
President of the Management Board of Luka Koper, d. d.
20 Annual report 2023 Report of the Supervisory Board for 2023
3 Report of the Supervisory Board for 2023
3.1 Composition of the Supervisory Board
In 2023 until 6 February 2023, the Supervisory Board was composed of Franci Matoz (Chair), Nevenka Črešnar
Pergar (Deputy Chair), Božidar Godnjavec (member), Andrej Koprivec (member), Tomaž Benčina (member), Mladen
Jovičić (member), Rok Parovel (member), Mehrudin Vuković (member). At the 36th General Meeting of
Shareholders on 6 February 2023, the General Meeting appointed new members of the Supervisory Board for a
term of office of 4 years, commencing on 7 February 2023, namely Mirko Bandelj, Barbara Nose, Jožef Petrovič,
Boštjan Rader and Borut Škabar. The Supervisory Board in its new composition met at the 1st inaugural session on
23 February 2023 and appointed Mirko Bandelj as chair, and Tomaž Benčina as his deputy. As of 23 February 2023,
the Supervisory Board is composed of Mirko Bandelj (Chair), Tomaž Benčina (Deputy Chair), Jožef Petrovič
(member), Barbara Nose (member), Boštjan Rader (member), Borut Škabar (member), Mladen Jovičić (member),
Rok Parovel (member) and Mehrudin Vuković (member). The composition of the Supervisory Board has been at a
high level in terms of professional competence and the members acted in harmony.
3.2 Supervisory Board's work
The Supervisory Board held two ordinary, one extraordinary meeting and one meeting by correspondence until 6
February 2023. It took note of the convocation of the 36th General Meeting of the Company, considered and approved
the proposal of the General Meeting of the Company for the appointment of the external auditor of the financial
statements of Luka Koper, d. d., and the Luka Koper Group for the period 2023-2025, approved the proposal of new
criteria and the proposals of the Management Board for the increase in the value of investments. On the basis of
the approved criteria for the evaluation of the Management Board's performance for 2022, it considered and
approved the Management Board's remuneration for 2022 and gave its consent to the employment of a member of
the Supervisory Board - employee representative as a professional trade union representative in the Company until
31 January 2027.
The new Supervisory Board took office on 7 February 2023 and held seven ordinary meetings and eight meetings
by correspondence in 2023. At its inaugural meeting on 23 February 2023, the Supervisory Board, having elected a
Chair and a Deputy Chair, established the Audit, HR and Business Operations Committees of the Supervisory Board
and appointed the membership of these Committees. At the first inaugural meeting, the Board took note of the
presentation of the company's business and operations and discussed information about the operations of the
Group and Luka Koper, d. d., for the year 2022.
At its meeting in April, the Supervisory Board adopted the 2022 work report and, at the same time, approved the
audited Annual Report 2022 of the Group and Luka Koper d. d., and reviewed the Management Board's proposal for
the use of the 2022 accumulated profit. It took note of the annual report on risk and opportunity management for
2022, the annual report on the work of the internal audit function and the Corporate Integrity and Compliance Officer
for 2022 and took note of the declarations of independence of the members of the Supervisory Board.
At its meeting on 18 May 2023, the Supervisory Board approved the agreement on the termination of the mandate
of the President of the Management Board, Boštjan Napast, as of 30 June 2023 and appointed the then Member of
the Management Board responsible for Finance, Nevenka Kržan, as President of the Management Board as of 1
July 2023. At the same time, the Supervisory Board instructed the HR Committee to start the procedures for the
selection and appointment of new members of the Management Board. It took note of the unaudited report on the
performance of the Group and Luka Koper, d. d., in the period January-March 2023 and, on a proposal from the
Business Operations Committee, agreed to include in the investment plan the investment in the construction of a
passenger terminal facility. It agreed to the convening of the 37th General Meeting of Shareholders and to the
appointment of the President of the Management Board to the Supervisory Board of Pokojninska Družba A, d. d. At
the 2nd meeting by correspondence, the Supervisory Board adopted a proposal for a new Remuneration Policy,
which it submitted to the General Meeting for approval.
At its June and July meetings by correspondence, the Supervisory Board decided on the new values of the
Management Board's investment proposals and approved a call for tenders for the selection of new members of
Report of the Supervisory Board for 2023 Annual report 2023 21
the Management Board and external expertise to assist in the selection process. At the same time, it adopted a
competency profile for the members of the Management Board.
At its regular meeting on 24 August 2023, the Supervisory Board took note of the unaudited report on the operations
of the Group and Luka Koper, d. d., in the period January-June 2023, approved the agreement on the audit of the
financial statements of the Company and the Luka Koper Group for the financial years 2023, 2024 and 2025 and
authorised the Chair of the Supervisory Board to sign it. It approved the Corruption Prevention Policy, agreed to the
proposal on the purchase of treasury bills, to the dividend policy and internal audit operations, took note of the
activities of implementing the management system for the prevention of corruption in accordance with ISO 37001 -
2016 and considered the report under Article 60 of the Slovenian Sovereign Holding Act in relation to transactions
with related parties of a member of the Supervisory Board. It discussed the sponsorship and donations strategy
and took note of the SSH's annual management plan and expectations. It also considered the draft Business Plan
of the Company and the Luka Koper Group for 2024 and the draft Strategic Business Plan for the period 2024-2028
and made recommendations to the Management Board.
At its first November meeting on 23 November 2023, the Supervisory Board took note of the unaudited report on
operations for the period January-September 2023, considered and approved the proposed financial calendar for
2024 and agreed to the Business Plan of Luka Koper, d. d., and the Luka Koper Group for 2024. It also considered
and agreed on the Internal Audit work plan for 2024 and the Management Board's proposal to increase the
sponsorship and donation funds of Luka Koper, d. d., in 2023. It considered and approved management's proposals
to increase the value and include new investments in the 2023 investment plan.
At its second November meeting on 30 November 2023, the Supervisory Board, following a proposal by the HR
Committee to select from a number of candidates, appointed Gregor Belič and Gorazd Jamnik as new members of
the Management Board for a term of office of 5 years, commencing on 1 January 2024. On the proposal of the
Management Board, it approved the Strategic Business Plan of Luka Koper, d. d., and the Luka Koper Group for the
period 2024-2028 and gave its consent to the Management Board for the recapitalisation of the subsidiary Adria
Terminali, d. o. o., and the acquisition of Adria Investicije, d. o. o.
At its last regular meeting of 2023 on 18 December 2023, the Supervisory Board approved the change in criteria for
allocating costs, revenues, assets and liabilities for the implementation of the public utility service, agreed on a set
of identified impacts and material topics for reporting in the 2023 Sustainability Report, and approved the criteria
for the remuneration of the Head of Internal Audit for 2024. It took note of the report on the progress of the
company's key investment projects and adopted the work programmes for the meetings of the Supervisory Board
and its Committees. At its last correspondence meeting, the Supervisory Board approved the draft management
contracts with the two newly appointed members of the Management Board.
In addition, the Supervisory Board regularly monitored the measures to achieve the planned profit for 2023,
proposed to the Management Board a review of the business plan and the strategic business plan, which it
approved, and carried out a number of other tasks, including:
• Discussed the reports on the work of the internal audit for 2023, and the internal audit work programme
for 2023;
• Discussed the risk management reports;
• Discussed the compliance of operations and corporate integrity reports for 2023;
• Monitored business results and measures to achieve them;
• Monitored the implementation of the Company's investment plan;
• Monitored the recommendations and expectations of the Slovenian Sovereign Holding.
The Supervisory Board paid attention to the timely and effective identification, disclosure, management and
elimination of conflicts of interest. The Members of the Supervisory Board received ongoing training and followed
examples of good practice in corporate governance. The Supervisory Board did not discuss the Report of the Works
Council on the situation regarding worker participation in the management, since the 2023 report had not been
submitted for discussion by the Works Council. The Supervisory Board adopted 159 decisions, 96 percent of which
were unanimous.
3.3 Work of Supervisory Board committees
In 2023, the following committees were appointed within the Supervisory Board until 6 February 2023: Audit
Committee, HR Committee, Business Operations Committee, and Strategic Development Committee. At its first
22 Annual report 2023 Report of the Supervisory Board for 2023
inaugural meeting on 23 February 2023, the Supervisory Board decided that the Audit, HR and Business Operations
Committees shall operate within the Supervisory Board.
3.3.1 Audit Committee
In accordance with the Rules of Procedure of the Supervisory Board, the Audit Committee, by carrying out the tasks
of its work programme, enhances the effectiveness of the Supervisory Board and regularly reports to the
Supervisory Board on the supervision of financial reporting, internal controls and risk management, and on its
cooperation with external and internal auditors and Corporate Integrity and Operations Compliance Officer, and
proposes relevant decisions to be adopted. In the corporate governance process, it is the key role of the Audit
Committee to act for the benefit of the Company and protect the interests of its stakeholders.
In 2023, until 6 February 2023, the Audit Committee was composed of Andrej Koprivec, CFA (Chair, level of education
7, BSc in Economics), Božidar Godnjavec (member and deputy chair, level of education 8, MSc in Economics),
Nevenka Črešnar Pergar, MBA (member, level of education 7, LLB), Rok Parovel (level of education 6, Graduate in
Economics), and Simon Kolenc, CFA (external member, level of education 7, BSc in Economics). The committee
met in two sessions. It discussed the proposal for the Supervisory Board regarding the appointment of an external
auditor of the financial statements of the company Luka Koper, d. d., and the Luka Koper Group for the period 2023-
2025, and proposed to the Supervisory Board to propose BDO Revizija, d. o. o., to the General Meeting of the
Company for appointment. It considered the proposal for new criteria, which it submitted to the Supervisory Board
for approval, and took note of the reports on the internal audit engagements carried out, verified the declaration of
independence of the internal audit function and assessed its performance.
With the appointment of new members of the Supervisory Board and the constitution of the Audit Committee at the
1st inaugural meeting of the Supervisory Board, the Committee was, as of 23 February 2023, composed of Barbara
Nose (Chair, level of education 7, BSc in Economics, audit specialist), Boštjan Rader, MBA (member, level of
education 7, BSc in Economics, MBA), Rok Parovel (member, level of education 6, Graduate in Economics, MBA),
and external member Mateja Treven, CFA (level of education 8, MSc in Economics).
The Audit Committee met at seven regular and two meetings by correspondence. Within the scope of its
competences and mandates, the Committee monitored the financial reporting process, discussed various materials
and reports of the Management Board, and reported regularly to the Supervisory Board on its conclusions, findings
and proposals. In accordance with the guidelines for ensuring the independence of the external auditor, the Audit
Committee supervised the contracts concluded with audit firms as well as the nature and extent of their services.
The Committee discussed the audited annual report of the Luka Koper Group and Company for 2023, with particular
emphasis on the presentation of revenue, formation of provisions for potential legal actions, liabilities from the
concession contract, non-financial reporting, and corporate sustainability. It communicated actively with the
auditor both regarding the areas and course of the audit as well as the related findings, and at the same time
monitored their independence and the quality of the work performed. It discussed the report for the Audit
Committee and the auditor's letter to management, as well as the management's response.
Following the appointment of the auditor at the 37th Annual General Meeting, the Audit Committee carefully
examined the audit plan for 2023 and considered the Contract for the audit of the financial statements of Luka
Koper, d. d., for the financial years 2023, 2024 and 2025 and proposed to the Supervisory Board to approve it. In
2023, the Audit Committee also closely monitored the risk management system with special emphasis on
cybersecurity risks and real rights relations with the Republic of Slovenia under the concession agreement. It
discussed the Corruption Prevention Policy, which it proposed to the Supervisory Board for approval, monitored
the operations of the internal audit and internal control department, compliance of operations, corporate integrity
and conflict of interests, and made recommendations for strengthening and upgrading of systems. It considered
reports on customers and suppliers, making recommendations on due diligence and compliance in dealing with
them, pending legal proceedings, the operation of IT systems and other management reports, which it scrutinised
and monitored for integrity.
The Committee also proposed amendments as well as immediate and appropriate measures for areas where
potential gaps were detected. It followed the idea of a transparent, ethical and socially responsible model of the
Company's operations and management of potential conflicts of interest and a clear regulation of the Company's
cooperation with all stakeholders. Prior to submitting the proposal for the remuneration of the head of internal
audit to the Supervisory Board for discussion, the Audit Committee examined thoroughly her remuneration and
work, and was extremely vigilant as to the respect for the autonomy and personal integrity.
Report of the Supervisory Board for 2023 Annual report 2023 23
At the end of the year, it adopted a work programme and started the process of evaluating its performance, on the
basis of which it will adopt a plan to implement further improvements in the areas of its work where it considers
itself able to make further improvements. During the year, the members of the Audit Committee attended several
trainings concerning the work of audit committees.
3.3.2 HR Committee
In 2023, until 6 February 2023, the HR Committee consisted of Franci Matoz (Chair) and members Nevenka Črešnar
Pergar, Božidar Godnjavec, and Mehrudin Vuković. The Committee held two meetings and discussed a report on
pending legal proceedings and the model for the provision of port services at Luka Koper, d. d., examined and
proposed to the Supervisory Board for approval the remuneration of the Management Board and the Secretary of
the Supervisory Board for 2022, and proposed to the Supervisory Board to give its consent to the recruitment of a
member of the Supervisory Board - employee representative - as a professional trade union representative in the
company.
With the appointment of the new members of the Supervisory Board and the formation of the HR Committee at the
1st inaugural meeting of the Supervisory Board, the Committee continued to function in 2023 as of 23 February
2023 in the following composition: Tomaž Benčina (Chair), Jožef Petrovič (member), Boštjan Rader (member),
Mehrudin Vuković (member). The Committee met at five regular meetings and one meeting by correspondence.
It considered Management Board reports on recruitments of senior management and management consultants,
monitored the implementation of the succession programme, formulated and proposed the adoption of the
Remuneration Policy and the criteria for remunerating the Management Board, and, with external expert support,
prepared a public call for applications for new members of the Management Board. After reviewing, verifying and
analysing the candidacies, it prepared a shortlist of candidates for new board members, which it forwarded to the
Supervisory Board for consideration and appointment.
3.3.3 Business Operations Committee
In 2023, until 6 February 2023, the Business Operations Committee was composed of Božidar Godnjavec (Chair),
Nevenka Črešnar Pergar (Deputy Chair), and members Tomaž Benčina and Mladen Jovičić. The Committee held
two meetings and discussed the Management Board’s proposals to include new investments in the 2023 Investment
Plan and a proposal for the exchange of land in the immediate vicinity of the port.
At its 1st inaugural meeting on 23 February 2023, the Supervisory Board appointed Jožef Petrovič (Chair), Tomaž
Benčina (member), Borut Škabar (member) and Mladen Jovičić (member) as members of the Business Operations
Committee.
The Committee met at four regular meetings. It participated in the development of the 2024 Business Plan and the
Strategic Business Plan of Luka Koper, d. d., and the Luka Koper Group for the period 2024-2028, which it proposed
to the Supervisory Board for approval at the end of the year. It monitored the implementation of the investment
plan, regular and long-term upkeep, took notice of various studies of economic viability of investments and
regularly monitored the business objectives of the company as well as subsidiaries.
3.3.4 Strategic Development Committee
The Strategic Development Committee, composed of Nevenka Črešnar Pergar (Chair), Andrej Koprivec (Deputy
Chair), Tomaž Benčina (member), Mladen Jovičić (member) and Rok Parovel (member), did not meet until 6
February 2023. The Supervisory Board in its new composition transferred its tasks to the Business Operations
Committee.
Meetings of the Supervisory Board and its committees in 2023 and absence of members
Meeting No
Date of the meeting
Absent members
Supervisory Board meetings
15
th
ordinary meeting
24 January 2023
/
16
th
ordinary meeting
2 February 2023
/
1
st
inaugural meeting
23 February 2023
/
2
nd
ordinary meeting
13 April 2023
/
3
rd
ordinary meeting
18 May 2023
/
24 Annual report 2023 Report of the Supervisory Board for 2023
4
th
ordinary meeting
24 August 2023
/
5
th
ordinary meeting
23 November 2023
/
6
th
ordinary meeting
11 November 2023
/
7
th
ordinary meeting
18 December 2023
Borut Škabar
5
th
extraordinary meeting
5 January 2023
/
6
th
meeting by correspondence
6 February 2023
/
1
st
meeting by correspondence
4 April 2023
/
2
nd
meeting by correspondence
24 May 2023
/
3
rd
meeting by correspondence
20 June 2023
/
4t
th
meeting by correspondence
6 July 2023
Boštjan Rader
5
th
meeting by correspondence
28 July 2023
/
6
th
meeting by correspondence
21 September 2023
/
7
th
meeting by correspondence
24 November 2023
/
8
th
meeting by correspondence
22 December 2023
/
HR Committee meetings
10
th
ordinary meeting
24 January 2023
/
11
th
ordinary meeting
2 February 2023
/
1
st
inaugural meeting
13 April 2023
/
2
nd
ordinary meeting
18 May 2023
/
3
rd
ordinary meeting
14 June 2023
/
4
th
ordinary meeting
24 August 2023
/
5
th
ordinary meeting
28 September 2023
/
6
th
ordinary meeting
15 November 2023
Mehrudin Vuković
7
th
ordinary meeting
18 December 2023
/
1
st
meeting by correspondence
5 July 2023
/
Business Operations Committee
meetings
13
th
ordinary meeting
24 January 2023
/
14
th
ordinary meeting
2 February 2023
/
1
st
inaugural meeting
27 March 2023
/
2
nd
ordinary meeting
18 May 2023
/
3
rd
ordinary meeting
14 June 2023
/
4
th
ordinary meeting
24 August 2023
/
5
th
ordinary meeting
23 November 2023
/
Audit Committee meetings
14
th
ordinary meeting
24 January 2023
/
15
th
ordinary meeting
2 February 2023
/
1
st
inaugural meeting
16 March 2023
/
2
nd
ordinary meeting
23 March 2023
/
3
rd
ordinary meeting
13 April 2023
/
4
th
ordinary meeting
15 May 2023
/
5
th
ordinary meeting
22 August 2023
/
6
th
ordinary meeting
16 November 2023
/
7
th
ordinary meeting
18 December 2023
/
1
st
meeting by correspondence
28 June 2023
/
2
nd
meeting by correspondence
20 September 2023
/
Report of the Supervisory Board for 2023 Annual report 2023 25
Strategic Development Committee
meetings
/
/
/
3.3.5 Assessment of the Supervisory Board’s work
The Supervisory Board assesses its composition in terms of professional competences and its functioning as
effective and coherent. The Supervisory Board functioned well, its members being experts in their fields.
Management of the conflicts of interest between the members of the Supervisory Board effectively protects the
interests of the company.
The Supervisory Board operated effectively and constantly monitored all key areas of operations. Due to good
individual preparation and high motivation of all members, it’s contribution was significant. Support for the
Supervisory Board is very good, both regarding the functioning of the Supervisory Board Committees and the
Secretary of the Supervisory Board.
Committees were devising decisions to be adopted by the Supervisory Board; all members of the Supervisory Board
participated in the discussions actively and exchanged opinions effectively. All members of the Supervisory Board
signed statements on their independence and declared themselves independent.
3.3.6 Costs of the Supervisory Board's work
Payments to individual members of the Supervisory Board and to members of committees of the Supervisory Board,
and other receipts and operating costs based on the General Meeting decision No 4 of 29 December 2017 are
presented in more detail in the accounting report, Note 31 ‘Related party transactions’. In 2023, education costs for
the members of the Supervisory Board totalled EUR 1,674.
3.3.7 Adoption of the Annual Report and the view on the auditor’s report
The 2023 Annual Report of the Luka Koper Company and Group was audited by the audit company BDO Revizija, d.
o. o., which issued an opinion on the financial statements. At its 10 regular meeting of 17 April 2024, the Audit
Committee of the Supervisory Board established that the Annual report was prepared in a timely manner, and is
compiled clearly, transparently and in accordance with the provisions of the Companies Act, the applicable
International Financial Reporting Standards as adopted by the EU and other relevant legislation. The Audit
Committee had no objections to the 2023 Annual report of the Luka Koper Company and the Group and thus
proposed to the Supervisory Board that they approve it in compliance with Article 282 of the Companies Act. Based
on the auditor's opinion, the position of the Supervisory Board's Audit Committee, and data and disclosures in the
2023 Annual Report, the Supervisory Board estimates that the auditor performed their work independently and
professionally, in accordance with applicable legislation and business practice, that the Annual Report is prepared
in accordance with the requirements of the Companies Act in all material respects, and that the financial
statements in all material respects fairly represent the financial position of the Luka Koper Company and the Group
as at 31 December 2023 and their profit and loss and cash flows for the year ended in accordance with International
Financial Reporting Standards as adopted by the EU. The Supervisory Board had no objections to the auditor’s
report. In addition, the Supervisory Board has no objections to the 2023 Annual Report of the Luka Koper Company
and the Group, which would in any way delay it in reaching a decision approving it. Therefore, in accordance with
Article 282 (3) of the Companies Act, the Supervisory Board approved the 2023 Annual Report of the Company and
the Luka Koper Group at its 9. meeting on 18 April 2024.
At the time of adoption of the annual report, the Supervisory Board also took a stand on the Corporate Governance
Statement and on compliance with the reference code, which is included in the business report of the 2023 Annual
Report of Luka Koper, d. d., and the Luka Koper Group, and established that it reflects the actual corporate
governance of Luka Koper, d. d., and Luka Koper Group in 2023.
Mirko Bandelj
Chair of the Supervisory Board of Luka Koper, d. d.
26 Annual report 2023 Corporate Governance Statement
4 Corporate Governance Statement
In line with the provision of Article 70 (5) of the Companies Act, Luka Koper, d. d., issues the following Corporate
Governance Statement relating to the period from 1 January 2023 to 31 December 2023.
4.1 Codes and Management Practice
6
In the period from 1 January to 31 December 2023, the company observed the Slovenian Corporate Governance
Code for Listed Companies of December 2021, which was drawn and adopted jointly by the Ljubljana Stock
Exchange (Ljubljanska borza, d. d.), Ljubljana, and the Slovenian Directors’ Association, and put into force on 1
January 2022. The Code is available on the Ljubljana Stock Exchange's website "Ljubljana Stock Exchange Rules
and Regulations (ljse.si).
In the period from 1 January to 31 December 2023, the company also observed The Corporate Governance Code for
State-Owned Enterprises (adopted in June 2022) which is available on the Slovenian Sovereign Holding (SDH)
website Key SSH Asset Management Documents.
The Company has adopted the Corporate Governance Policy of Luka Koper, d. d., on 21 January 2022, whereby
management is carried out in accordance with the provisions of the Companies Act and the aforementioned codes.
In its corporate governance, the company voluntarily decided to apply the Slovenian corporate integrity guidelines,
based on which it adopted its own Corporate Integrity Strategy of the Luka Koper Group companies, the Code of
Ethics of the Luka Koper Group, and Corruption Prevention Policy. All these documents are available on the
Company's website Corporate-documents - Luka Koper d. d. (luka-kp.si). Code of Ethics of the companies of the
Luka Koper Group was revised on 1 October 2019. The company has adopted the Rules of Procedure for the
Corporate Integrity Officer and the Corporate Integrity Violations Committee of the Luka Koper Group, and Rules of
Procedure for the Operations Compliance Officer, on 11 July 2022 it adopted Code of Conduct for business partners
of the Luka Koper Group, and on 24 August 2023, also the Corruption Prevention Policy.
4.1.1 Governance of Luka Koper, d. d.
In governance, the Company observes the provisions of applicable codes. Any derogation is stated and/or explained
below.
• One member of the Supervisory Board is an employee of SDH, d. d. (Partial derogation from the
Corporate Governance Code for State-Owned Enterprises, Item 4.1.)
• Representation in management and supervisory bodies is regulated by various criteria of
representation in management and supervisory bodies from the point of view of gender and other
factors, such as age and professional profile. In this regard, the company has adopted a Diversity Policy.
The company meets the aforementioned criteria, except for the criterion of gender balance in the
Supervisory Board. (Partial derogation from the Corporate Governance Code for State-Owned
Enterprises, Item 11, and from the Slovenian Corporate Governance Code for Listed Companies, Item
6.5.)
• In 2023, the Supervisory Board began the process of evaluating the effectiveness of its work, which it
had not completed by the end of the year. (Partial derogation from the Corporate Governance Code for
State-Owned Enterprises, Item 6.13.)
• The 36th and 37th Annual General Meetings were held only with the physical presence of the
shareholders, as the conditions made it possible and in this way the Company maintains direct contact
with the shareholders. (Partial derogation from the Slovenian Corporate Governance Code for Listed
Companies, Items 10.1 and 10.2.)
• The members of the Supervisory Board who are employee representatives have no university degree.
Employee representatives of the Supervisory Board are appointed by the Works Council, over which the
Company's General Meeting has no influence. Similarly, the Worker Participation in Management Act,
6
GRI 2-23
Corporate Governance Statement Annual report 2023 27
which is the basis for appointing members of the Supervisory Board - employee representatives, does
not prescribe the level of education for Supervisory Board members who are employee representatives.
For this reason, there is no basis to guarantee that all members of the Supervisory Board will have a
university degree in the future. (Partial derogation from the Slovenian Corporate Governance Code for
Listed Companies, Item 12.1.)
• The Supervisory Board does not consider once a year the report of the Works Council on the status of
workers’ participation in management, since it does not receive the said report from the Works Council.
(Derogation from the Slovenian Corporate Governance Code for Listed Companies, Item 14.4.)
• The Works Council does not follow the recommendations of the Diversity Policy when appointing the
Supervisory Board members, the employee representatives. (Partial derogation from the Slovenian
Corporate Governance Code for Listed Companies, Item 11.3.)
• The Supervisory Board does not have a specific training scheme since the training priorities are set by
each member of the Supervisory Board individually. (Partial derogation from the Slovenian Corporate
Governance Code for Listed Companies, Item 15.1.)
• When setting up an individual commission, the Supervisory Board does not directly determine its tasks
by decision or in the rules of procedure. The tasks of a committee are evident from the discussion of
the Supervisory Board at its establishment. (Partial derogation from the Slovenian Corporate
Governance Code for Listed Companies, Item 18.2.)
• The members of the Supervisory Board are charged for the credit rating for the liability insurance of
company bodies and executives, which is the only credit rating they are entitled to. Regarding the
liability insurance of the members of the Supervisory Board, there is a uniform system for all members
of the management and supervisory bodies of the company, which will not be changed in the future.
(Partial derogation from the Corporate Governance Code for State-Owned Enterprises, Item 6.10.6.)
• The Company’s Code of Ethics does not contain detailed content relating to the example of
management, employees, labour rights, attitudes towards officials and control and sanctions, since this
content is included in the Corruption Prevention Policy and the Rules of Procedure on the management
system for the prevention of corruption. The Code of Ethics discusses various other issues, which are
constantly updated by the Company. (Partial derogation from the Corporate Governance Code for State-
Owned Enterprises, Item 10.1.1.)
• The Company does not publish all the rules of procedure of its bodies, i.e., the management, control
and assembly bodies, on its web pages. (Partial derogation from the Slovenian Corporate Governance
Code for Listed Companies, Item 32.7.)
4.1.2 Corporate integrity
Corporate integrity is reported in detail in Chapter 27 Corporate integrity and operations compliance, protection
of personal data and human rights.
4.1.3 Risk control system
Risk is reported in detail in Chapter 14 Managing risks and opportunities.
4.2 Internal controls and risk management related to financial reporting
The Luka Koper Group manages risk related to financial reporting and the implementation of adopted guidelines
and internal control procedures. The purpose of internal controls is to ensure the accuracy, reliability and
completeness of acquiring data on transactions and preparation of financial statements that give a true and fair
view of the financial position, profit or loss, cash flows and changes in equity in accordance with the applicable laws,
International Accounting Standards and other external and internal regulations. Risk management related to the
Group’s consolidated financial statements has also been provided through a centralised accounting function in a
uniform IT system in the controlling company, which includes all the subsidiaries and the majority of associated
companies.
Having been designed in accordance with the principle of reality and division of responsibility, the accounting
controls focus on the control of accuracy and completeness of data processing, reconciliation of the balance
presented in the books of account and the actual balance, separation of records from conducting transactions,
professionalism of accountants and independence. Internal controls in accounting are also related to controls in
the field of IT that ensure limitations and supervision over the access to the network, data and applications as well
as the accuracy and completeness of data acquisition and processing.
28 Annual report 2023 Corporate Governance Statement
Luka Koper, d. d., as a company subject to the application of the act regulating acquisitions, states in its annual
report all the required data and explanations in line with the provision of Article 70 (6) of the Companies Act.
4.2.1 Structure of the Company’s share capital
The Company shares are ordinary no-par value shares that grant to their holders the right to participate in the
company management, the right to profit sharing – dividend payments, and the right to a proportionate amount of
remaining assets after winding up or bankruptcy of the company. All the shares are registered shares, of one class
and issued in book-entry form. The Company shares are freely transferable and listed on the Ljubljana Stock
Exchange, first listing. Detailed data about the share and ownership structure is presented in Chapter 15 ‘The LKPG
Share’.
4.2.2 Share transfer limitations
All Company shares are freely transferable.
4.2.3 Qualified shares pursuant to the Takeovers Act
Pursuant to Article 77 (1) of the Takeovers Act, achievement of the qualified share on 31 December 2023 was as
follows:
• the Republic of Slovenia held 7,140,000 shares issued by Luka Koper, d. d., which accounted for 51.00
percent of the initial capital of the issuer of the shares, and
• Slovenian Sovereign Holding (Slovenski državni holding, d. d.) held 1,557,857 shares issued by Luka
Koper, d. d., which accounted for 11.13 percent of the initial capital of the issuer of the shares.
4.2.4 Holders of securities granting special control rights
The company issued no securities that would grant special control rights.
4.2.5 Employee share scheme
The company has no employee share scheme.
4.2.6 Limitation of voting rights
There is no limitation of voting rights.
4.2.7 Agreements among shareholders that may result in limitation of share transfer
or voting rights
The company has not been informed of any such agreements.
4.2.8 The Company’s rules on appointments or replacements of members of
management and supervisory bodies
7
The Management Board of the company has a President and up to three members, of which one is the Worker
Director. The President of the Management Board and other Management Board Members are appointed and
dismissed by the Supervisory Board. The Worker Director as a Member of the Management Board is appointed and
dismissed by the Supervisory Board on a proposal of the Works Council. The term of office of the President of the
Management Board, Management Board Members and the Worker Director is five years with the possibility of re-
appointment. The Supervisory Board has the right and competence to dismiss the entire Management Board or an
individual Member of the Management Board.
The Supervisory Board can dismiss the President of the Management Board, Members of the Management Board
and the Worker Director early for the reasons set out in the law. The quorum of the Supervisory Board when
appointing or dismissing the President of the Management Board, a Member of the Management Board or the
Worker Director requires the presence of at least half of the Members of the Supervisory Board and at least half of
the present Supervisory Board Members have to be representatives of the capital, of which the Chair of the
Supervisory Board and deputy Chair of the Supervisory Board are to be present as well.
7
GRI 2-10
Corporate Governance Statement Annual report 2023 29
The President and Members of the Management Board shall have at least university education, a thorough
knowledge of one world language, and at least five years of work experience in decision-making positions in large
companies in accordance with the criteria as defined by the law governing companies. More detailed conditions and
criteria for the President and Members of the Management Board are determined by the Supervisory Board. The
terms of appointment of the Worker Director are jointly determined by the Supervisory Board and the Works
Council.
The HR Committee operates under the Supervisory Board, carrying out preliminary procedures relating to the
selection of candidates for the Management Board of the company and proposing the most suitable candidates for
the Management Board Members to the Supervisory Board. Before submitting the proposal, the Committee verifies
whether the candidates suggested meet the legal and statutory criteria for the Members of the Management Board.
The Supervisory Board of the company consists of nine members, of which six are elected by the General Meeting
by a simple majority of the shareholders present and three members are elected by the Works Council. One of six
Supervisory Board members can be proposed to the General Meeting by the municipality or municipalities in which
the onshore part of the port area is located. The General Meeting establishes with a decision the election and
discharge of the members of the Supervisory Board elected by the Works Council. The decision on an early
discharge of Members of the Supervisory Board has to be taken by a three-quarters majority of the votes submitted
in the General Meeting. Members of the Supervisory Board elected out of the employees can be discharged before
the expiry of their term of office by the Works Council. The General Meeting only establishes their discharge with a
decision. After expiry of their term of office, each elected Member of the Supervisory Board may be proposed and
re-appointed as a Member of the Supervisory Board.
The Management and the Supervisory Boards formulated and adopted a diversity policy with respect to
representation in management and control bodies of the company as defined by the Companies Act and the
Slovenian Corporate Governance Code for Listed Companies. The Company has thus partly pursued the objective
of diversity with respect to representation in management and control bodies. In 2023, the Supervisory Board
adopted a competency profile for the members of the Management Board.
4.2.9 The Company’s rules concerning changes in the articles of association
The General Meeting of Shareholders decides on the changes in the articles of association with a three-quarters
majority of the initial capital represented.
4.2.10 Powers of Members of the Management Board, in particular with regard to own
shares
Powers of Members of the Management Board are defined in Chapter 4.6 Company Management of Luka Koper,
d. d. Otherwise, the Management Board has no special powers relating to the issue or purchase of own shares.
4.2.11 Relevant agreements that are put into effect, changed or terminated on the basis
of a change in the company’s control as a result of a public takeover offer
The company has not been informed of any such agreements.
4.2.12 Agreements between the Company and the members of its management or
control bodies or employees that foresee compensation if they resign, are
dismissed without valid grounds or their employment contract expires because
of an offer made in compliance with the Takeovers Act.
There have been no agreements in accordance with the Takeovers Act.
4.3 Management system
8
Luka Koper, d. d., operates under a two-tier management system, under which the Company has three
management bodies: the General Meeting of Shareholders, the Supervisory Board, and the Management Board.
The competencies of individual bodies and the rules on their operation, appointment, discharge and changes to the
articles of association and Company’s internal regulations related to the work of these bodies are laid down in the
8
GRI 2-9, 2-10, 2-16
30 Annual report 2023 Corporate Governance Statement
Companies Act, the Company’s articles of association, and the Rules of Procedure on the Work of the Supervisory
Board, the Management Board and the General Meeting of Shareholders.
Significant impacts on the Company's business in terms of negative impacts on stakeholders are communicated to
the Management Board and the Supervisory Board through the submission and consideration of regular reports:
quarterly reports, annual report, risk management reports, reports of violations of corporate integrity, compliance
reports, occupational health and safety reports, environmental reports, fire safety reports, etc.
Conflicts of interest regarding cross-membership, cross-ownership and the existence of controlling shareholders
are disclosed to stakeholders. Details of related party transactions are presented in the consolidated financial
statements in Note 31 ‘Related party transactions’.
Specific provisions on the operation of the Management Board are also stated in other general acts on internal
company regulation. The Company’s articles of association are available at https://luka-kp.si/eng/corporate-
documents.
Leadership continuity was identified as a significant impact in 2023 by both the Luka Koper Group and stakeholders.
Ensuring leadership continuity is an important aspect of the effectiveness of the Management Board and
Supervisory Board of Luka Koper, d. d. Accordingly, the decision-making bodies must ensure that the entire
membership or the majority of the membership of these bodies is not replaced within a very short period of time,
as this can have a significant impact on the effectiveness/ineffectiveness of their work. The company follows this.
The terms of office of the members of the Management Board and the Supervisory Board in the positions to which
they are appointed do not expire at the same period of time, but at different dates (as shown in Table C1), thus
ensuring leadership and control continuity.
4.4 General Meeting of Shareholders
9
The General Meeting of Shareholders is the highest body of the Company, deciding on its status changes,
appropriation of the profit, the appointment or discharge of Members of the Supervisory Board and all other issues.
It makes decisions in accordance with the Companies Act (ZGD-1) and the Articles of Association of Luka Koper, d.
d. The ownership structure of Luka Koper, d. d., is presented in Chapter 15 ‘The LKPG Share’.
4.4.1 Convening the General Meeting of Shareholders
The Management Board shall convene the General Meeting of Shareholders once a year as a general rule, or
several times, if necessary. The convening of the General Meeting of Shareholders is announced at least one month
in advance on the AJPES website, in the SEO-net electronic system of the Ljubljana Stock Exchange, and on the
Company’s website. The Company’s website https://luka-kp.si/eng/general-assembly includes all the material
with the proposals for decisions, which is also made available to shareholders at the Company’s head office. In
compliance with the rules of the Ljubljana Stock Exchange, all decisions taken at the General Meeting of
Shareholders are also published.
4.4.2 Participation and voting rights
Shareholders may take part in the General Meeting and exercise their voting right if their presence is reported to
the Management Board by the end of the fourth day prior to the General Meeting and if shares or a share certificate
are submitted for inspection.
The company has no limitations relating to the voting rights, as all shares of Luka Koper, d. d., provide voting rights
in line with the legislation.
Luka Koper, d. d., has issued no securities that would grant their holders any special control rights.
4.4.3 Decisions of the General Meeting of Shareholders
Shareholders of Luka Koper, d. d., held two General Meetings in 2023. On 6 February 2023, the 36th General Meeting
of the Company was held for the election of new members of the Supervisory Board, at which the shareholders:
• Took note of the resignation of Supervisory Board Member Tamara Kozlovič as of 13 May 2022
9
GRI 2-9, 2-10
Corporate Governance Statement Annual report 2023 31
• Recalled members of the Supervisory Board, Franko Matoz, Nevenka Črešnar Pergar, Andrej Koprivec
and Božidar Godnjavec; and
• appointed Mirko Bandelj, Barbara Nose, Jožef Petrovič, Boštjan Rader and Borut Škabar as new
members of the Supervisory Board for a four-year term of office commencing on 7 February 2023.
The 37th Annual General Meeting of the Company was held on 28 June 2023, at which shareholders:
• Approved the report on the remuneration of the members of the Company's management and
supervisory bodies in 2022;
• Adopted a decision on the proposal for the appropriation of the accumulated profit for 2022, which
amounted to EUR 50,229,863.96:
o A portion in the amount of EUR 35,000,000.00 is to be used for dividend payout in the gross
value of EUR 2.50 per ordinary share,
o The residual amount of accumulated profit in the amount of EUR 15,229,863.96 is to remain
unappropriated;
• Granted discharge for the year 2022 to the Management Board and Members of the Supervisory Board;
• Appointed BDO Revizija, d. o. o., as auditor of the financial statements of Luka Koper, d. d., and the Luka
Koper Group for the financial years 2023, 2024 and 2025;
• Approved the Remuneration Policy for the Management and Supervisory Bodies of Luka Koper, d. d., and
the Management Bodies of the Subsidiaries in the Luka Koper Group; and
• Rejected the proposal to set the remuneration and attendance fees for the members of the Supervisory
Board and the members of the Supervisory Board committees.
4.5 Supervisory Board of Luka Koper, d. d.
10
The Supervisory Board oversees the running of the Company’s business. Other tasks and powers of the Board, in
accordance with the law and the Company’s articles of association, mainly include: appointing and dismissing the
Management Board, determining the amount of Management Board’s remuneration, approving the annual report,
preparing proposals for the appropriation of the accumulated profit, and convening the General Meeting of
Shareholders.
The Company has adopted a competency profile for the members of the Supervisory Board (Competency Profile of
the Supervisory Board), which is published on the Company‘s website Corporate Documents - Luka Koper d.d.
(luka-kp.si).
4.5.1 Composition of the Supervisory Board
The Supervisory Board of Luka Koper, d. d., consists of nine members. Six are elected by the General Meeting of
Shareholders, and three from among employees by the Works Council. The Board members’ term of office is four
years.
Diversity of members of the Supervisory Board by gender
31 Dec 2023
Men
Women
TOTAL
Number of members
8
1
9
Share
89%
11%
100%
Diversity of members of the Supervisory Board by age
31 Dec 2023
Under 30
30 to 50
Over 50
TOTAL
Number of members
0
2
7
9
Share
0%
22%
78%
100%
10
GRI 2-9, 2-10, 3-3, 405-1
32 Annual report 2023 Corporate Governance Statement
4.5.2 Composition of the Supervisory Board of Luka Koper, d. d., as at 31 December
2023:
4.5.2.1 Representatives of shareholders:
Mirko Bandelj, Chair of the Supervisory Board
Beginning of a 4-year term of office: 7 February 2023 (36
th
General Meeting)
Employed: Odvetniška pisarna Mirko Bandelj, d. o. o.
Membership in other management or supervisory bodies: /
Tomaž Benčina, Deputy Chair of the Supervisory Board
Beginning of a 4-year term of office: 7 June 2022 (35
th
General Meeting)
Employed: Regional Chamber of Commerce of Celje
Membership in other supervisory or management bodies: Zavarovalnica Triglav, d. d., Member of the Supervisory
Board
Boštjan Rader, Member of the Supervisory Board
Beginning of a 4-year term of office: 7 February 2023 (36
th
General Meeting)
Employed: SDH, d. d.
Membership in other management or supervisory bodies: Deputy Chair of the Supervisory Board of the Public
Company Uradni list Republike Slovenije, d. o. o.
Jožef Petrovič, Member of the Supervisory Board
Beginning of a 4-year term of office: 7 February 2023 (36
th
General Meeting)
Employed: retired
Membership in other supervisory or management bodies: Pošta Slovenije, d. o. o., Member of the Supervisory Board
Barbara Nose, Member of the Supervisory Board
Beginning of a 4-year term of office: 7 February 2023 (36
th
General Meeting)
Employed:Constantia Primia, d. o. o., Managing Partner
Membership in other supervisory or management bodies: Pošta Slovenije, d. o. o., Member of the Supervisory
Board, AMZS, d. d., Deputy Chair of the Supervisory Board, Barnos, d. o. o., Managing Director, Shramba, d. o. o.,
Managing Director
Borut Škabar, Member of the Supervisory Board
Beginning of a 4-year term of office: 7 February 2023 (36
th
General Meeting)
Employed: BLUEMARINE, d. o. o., Managing Director
Membership in other management or supervisory bodies: BLUESHIP Ltd Istanbul, Managing Director
4.5.2.2 Representatives of employees:
Mehrudin Vuković, Member of the Supervisory Board
Beginning of a 4-year term of office: 19 January 2020 (33
rd
General Meeting – informing the shareholders)
Rok Parovel, Member of the Supervisory Board
Beginning of a 4-year term of office: 13 September 2020 (34
th
General Meeting – informing the shareholders)
Mladen Jovičić, Member of the Supervisory Board
Beginning of a 4-year term of office: 8 April 2021 (34
th
General Meeting – informing the shareholders)
4.5.2.3 External members of the Supervisory Board committees:
Mateja Treven, External Member of the Audit Committee of the Supervisory Board
Appointed for the period from 23 February 2023 until revoked.
Membership in other management or supervisory bodies: NLB Banka AD Skopje, independent member of the
Supervisory Board, NLB Banka Prishtina, non-executive independent member of the Management Board.
4.5.3 Changes in the composition of the Supervisory Board Audit Committee
In 2023, until 6 February 2023, the Audit Committee of the Supervisory Board was composed of Andrej Koprivec
(Chair), Božidar Godnjavec (member and Deputy Chair), Nevenka Črešnar Pergar (member), Rok Parovel (member),
and Simon Kolenc (external member).
Corporate Governance Statement Annual report 2023 33
As of 23 February 2023, the Committee is composed of Barbara Nose (Chair), Boštjan Rader (member), Rok Parovel
(member) and Mateja Treven (external member).
4.5.4 Changes in the composition of the Supervisory Board HR Committee
In 2023, until 6 February 2023, the HR Committee consisted of Franci Matoz (Chair), Nevenka Črešnar Pergar
(member), Božidar Godnjavec (member), Mehrudin Vuković (member).
As of 23 February 2023, the Committee is composed of Tomaž Benčina (Chair), Jožef Petrovič (member), Boštjan
Rader (member) and Mehrudin Vuković (member).
4.5.5 Changes in the composition of the Supervisory Board Business Operations
Committee
In 2023, until 6 February 2023, the Business Operations Committee was composed of Božidar Godnjavec (Chair),
Nevenka Črešnar Pergar (Deputy Chair), Tomaž Benčina (member) and Mladen Jovičić (member).
As of 23 February 2023, the Committee is composed of Jožef Petrovič (Chair), Tomaž Benčina (member), Borut
Škabar (member) and Mladen Jovičić (member).
4.5.6 Strategic Development Committee
Until 6 February 2023, the Strategic Development Committee, which never met in 2023, was composed of Nevenka
Črešnar Pergar (Chair), Andrej Koprivec (Deputy Chair), Tomaž Benčina (member), Rok Parovel (member), and
Mladen Jovičić (member).
4.5.7 Appointment of the Nomination Committee
As the Supervisory Board did not appoint a Nomination Committee, this task was performed by the HR Committee
of the Supervisory Board.
4.5.8 Details of the composition of the Supervisory Board
All details pertaining to members of the Supervisory Board and its composition and the composition of the
committees of the Supervisory Board are listed in the tables prepared in accordance with Annexes C.2 of the
Slovene Corporate Governance Code for Listed Companies and 3.2 of the Corporate Governance Code for State-
Owned Enterprises, entitled ‘Composition of the Supervisory Board and Committees in the financial year 2023’,
which are an integral part of this Corporate Governance Statement.
4.5.9 Supervisory Board’s work
11
The work of the Supervisory Board is governed by statutory regulations, Company’s articles of association and the
Rules of Procedure on the Work of the Supervisory Board, the Slovenian Corporate Governance Code for Listed
Companies, Corporate Governance Code for State-Owned Enterprises, Recommendations and expectation of the
Slovenian Sovereign Holding and Recommendations of the Slovenian Directors’ Association.
The Supervisory Board closed the year 2023 with the composition described in item 2.5.2 The composition of the
Supervisory Board of Luka Koper, d. d., as at the last day of 2023, with Franci Matoz (Chair), Nevenka Črešnar
Pergar (Deputy Chair), Božidar Godnjavec (member), Andrej Koprivec (member), Tomaž Benčina (member), Mladen
Jovičić (member), Rok Parovel (member), Mehrudin Vuković (member) until 6 February 2023.
At the 36
th
General Meeting on 6 February 2023, the following new members of the Supervisory Board were
appointed for a term of office of 4 years, commencing on 7 February 2023: Mirko Bandelj, Barbara Nose, Jožef
Petrovič, Boštjan Rader and Borut Škabar; therefore the Supervisory Board was composed of Mirko Bandelj (Chair),
Tomaž Benčina (Deputy Chair), Jožef Petrovič (member), Barbara Nose (member), Boštjan Rader (member), Borut
Škabar (member), Mladen Jovičić (member), Rok Parovel (member) and Mehrudin Vuković (member).
Work, decisions, and viewpoints of the Supervisory Board and the Committees of the Supervisory Board are
reported in detail in Chapter 3 ‘Report on the Supervisory Board for 2023’.
11
GRI 2-15
34 Annual report 2023 Corporate Governance Statement
Each Member of the Supervisory Board, taking into account the provisions of the Slovenian Corporate Governance
Code for Listed Companies and Corporate Governance Code for State-Owned Enterprises, signed a declaration in
2023 stating that in the year 2023, there was no conflict of interest that would imply that an individual member:
• Was executive director or member of the management board of the Company or an associated
company or had occupied such a position in the previous five years,
• Worked for the Company or an associated company and had occupied such a position in the previous
three years,
• Received significant additional remuneration from the Company or an associated company except for
the fee received as a Member of the Supervisory Board or its committees,
• Was the majority shareholder and represented the majority shareholder/majority shareholders,
• Had important business contacts with the Company or an associated company in the last year, either
directly as a partner, shareholder, managing director or manager in a body,
• Is or has been within the last three years, a partner or employee of the present or former external
auditor of the Company or an associated company;
• Was executive director or member of the management board of another company, of which a Member
of the Supervisory Board was the executive director or member of the management board, or was in
any way related to the executive director or members of the management board through cooperation
in other companies or bodies,
• Was a member of the Supervisory Board for more than three terms (or more than 12 years), with the
exception of Mladen Jovičić as employee representative,
• Was a close family member of a member of the Management Board or of persons occupying positions
referred to in items above,
• Was a member of the wider management board of an associated company,
• Participated in drawing up the proposed content of the Company’s annual report.
These declarations are also available at https://luka-kp.si/slo/pomembni-dokumenti-208, and reviewed by a
statutory auditor.
Conflicts of interest between Supervisory Board members are regulated in the Rules of Procedure of the
Supervisory Board and in relevant codes. In addition, members of the Supervisory Board are required to complete
a declaration of independence and IAS 24, indicating related parties and other functions. According to the Rules of
Procedure, in the event of a conflict of interest, they are obliged to immediately inform the Chair and members of
the Supervisory Board in writing and to take appropriate measures. Conflicts of interest regarding cross-
membership, cross-ownership and the existence of controlling shareholders are disclosed to stakeholders. Details
of related party transactions are presented in the consolidated financial statements in Note 31 ‘Related party
transactions’.
4.5.10 Supervisory Board committees
Three committees work on a regular basis under the Supervisory Board:
• Audit Committee,
• HR Committee,
• Business Operations Committee.
The committees carry out professional tasks in aid to the Supervisory Board.
The composition of the Audit Committee in 2023 is shown in item 4.5.3 ‘Changes in the composition of the Audit
Committee of the Supervisory Board’.
The composition of the HR Committee in 2023 is shown in item 4.5.4 ‘Changes in the composition of the HR
Committee of the Supervisory Board’.
The composition of the Business Operations Committee in 2023 is shown in item 4.5.5 ‘Changes in the composition
of the Business Operations Committee of the Supervisory Board’.
4.5.11 Remuneration of the Supervisory Board
12
Members of the Supervisory Board and of Committees of the Supervisory Board are entitled to attendance fees and
payments for performing the functions. The amount of attendance fees and payments is determined by the General
12
GRI 2-19, 2-20
Corporate Governance Statement Annual report 2023 35
Meeting of Shareholders and audited by the Statutory Auditor. Members of the Supervisory Board and of
Committees of the Supervisory Board are also entitled to a refund of travel expenses and other arrival- and
attendance-related expenses. Additional information on remuneration of the Supervisory Board and on related
levels is given in the Accounting Report of Luka Koper d. d., Note 31 ‘Related party transactions’, and in the table
taken from the Appendix 4.2 of the Corporate Governance Code for State-Owned Enterprises, entitled ‘Composition
and the amount of remuneration of the Supervisory Board and Committee members in the financial year 2023’, in
Chapter 4.11 ‘Appendix to the Corporate Governance Statement’, which is an integral part of the Corporate
Governance Statement. The Data on the ownership of shares of Members of the Supervisory Board and its
committees is given in Chapter 15 ‘The LKPG Share’.
4.6 The Management Board of Luka Koper d. d.
13
The work of the Management Board is governed by statutory regulations, the Company’s articles of association and
the Rules of Procedure on the Work of the Management Board, the Slovenian Corporate Governance Code for Listed
Companies, the Corporate Governance Code for State-Owned Enterprises, and Recommendations and Expectations
of the Slovenian Sovereign Holding. Pursuant to the Companies Act and the Company’s articles of association, the
Management Board manages and represents the company.
4.6.1 Composition of the Management Board
At its meeting on 18 May 2023, the Supervisory Board of the company Luka Koper, d. d., took note of the agreement
on the early termination of the term and the employment relationship concluded by the company and the President
of the Management Board, Boštjan Napast, and based on such agreement adopted the decision on the early
termination of the term the president of the board. Boštjan Napast held the position of President of the Management
Board until 30 June 2023 inclusive.
As at 31 December 2023, the Management Board of Luka Koper, d. d., consisted of:
• Nevenka Kržan, appointed as a Member of the Management Board for a five-year term on 1 July 2022,
took office as President of the Management Board on 1 July 2023.
• Vojko Rotar, Worker Director, appointed for a five-year term on 15 December 2022, took office on 16
February 2023.
The President of the Management Board in the company Luka Koper, d. d., does not perform any other functions in
the organisation.
Changes in the composition of the Management Board
As at 1 January 2024, the Management Board of Luka Koper, d. d., consisted of:
• Nevenka Kržan, appointed as a Member of the Management Board for a five-year term on 1 July 2022,
took office as President of the Management Board on 1 July 2023.
• Gregor Belič, Member of the Management Board, appointed for a five-year term on 30 November
2023, took office on 1 January 2024.
• Gorazd Jamnik, Member of the Management Board, appointed for a five-year term on 30 November
2023, took office on 1 January 2024.
• Vojko Rotar, Worker Director, appointed for a five-year term on 15 December 2022, took office on 16
February 2023.
13
GRI 2-9, 2-10, 2-11
36 Annual report 2023 Corporate Governance Statement
4.6.2 Presentation of members of the Management Board of Luka Koper, d. d., as at 1
January 2024
14
:
Nevenka Kržan
President of the Management Board
Nevenka Kržan is a university graduate in economics.
She started her career in banking, where she held
various management positions. During this period, she
was involved in both banking and privatisation
processes, participating in the establishment of a new
commercial bank and a company for the management
of investment funds and companies. In 1998, she joined
KPMG Slovenia and in 2001, she became a partner at
the regional level in charge of financial advisory
services. As an expert in finance and the financial
sector, she has been involved in projects for a number
of private and public sector companies in a wide range
of industries. During her extensive career, she has been
responsible for due diligence, M&A, valuation,
restructuring, refinancing, strategy and business plan
formulation projects. She took on the role of KPMG
Senior Partner in Slovenia in 2010, and holds a license
as a Certified Business Valuer and Certified Auditor
from the Slovenian Institute of Auditors.
Nevenka Kržan was appointed by the Company’s
Supervisory Board as a member of the Management
Board for a five-year term of office starting on 1 July
2022. She took office as President of the Management
Board on 1 July 2023.
Gregor Belič
Member of the Management Board
Gregor Belič holds a master's degree in marine
engineering and is a master mariner. He started his
career at Splošna Plovba Portorož, where he
commanded bulk and general cargo ships and
container ships during his fifteen-year career. In 2003,
he joined Transeuropa Shipping lines as a master on
Ro-Ro passenger ships. During this period, he passed
his pilot's test at the ports of Ostende, Belgium and
Ramsgate, United Kingdom and was involved in the
management of the terminals there in his role as HR
Director. In 2007, he joined Luka Koper, d. d., as a
consultant for relations with shipowners, and a year
later he took over the management of the car and Ro-
Ro terminal, as well as Avtoservis Koper, which he still
manages today. During his long career, in addition to his
managerial and organisational competences, he has
gained experience in various areas of port systems
operations, process optimisation, terminal
development planning and cargo handling, and has
been actively involved in the establishment and
improvement of the ISPS code for ships, upgrading of
security protocols and other key ship systems.
Gorazd Jamnik
Member of the Management Board
Gorazd Jamnik holds a master’s degree in management
and organisation, majoring in finance. He started his
career at Luka Koper, d. d., where he worked
intermittently for nine years, managing the finance and
14
GRI 2-15, 405-1
Corporate Governance Statement Annual report 2023 37
accounting area. He has more than twenty years of
experience in financial management, controlling and
accounting in various corporations and industries such
as logistics, white goods manufacturing and sales,
energy, and insurance. He has gained international
experience in all the countries of the former Yugoslavia,
as well as in the Netherlands, Czechia, Slovakia, and
Hungary. At Luka Koper, d. d., and other companies, he
participated actively and in a leading role in projects of
financing and implementation of investments,
refinancing, restructuring projects, as well as in the
formulation of strategies, business plans and due
diligence.
Vojko Rotar
Worker Director
Vojko Rotar graduated in economics. He began his
career in 1995 in Avico, a freight forwarding company
from Ljubljana, and continued to work in logistics, later
also international trade until 2003. He gained a wealth
of experience with respect to the port as a transit point
channelling international trade flows. His insight into
the general economic environment and the subjects
operating within it paved him the way to various
positions in the field of media and communications,
where he worked as editor, journalist, correspondent,
photo-reporter and web reporter for several Slovenian
media. For four years, he was in charge of public
relations and marketing in the Marjetica Koper public
corporation, while also nearing a number of areas
related to the promotion of good environmental
practices and cooperation with the local community.
He commenced his second five-year term of office in
Luka Koper, d. d., as Member of the Management Board
- Worker Director on 16 February 2023.
Members of management and persons in managerial positions are required to take all measures to manage
conflicts of interest at the time of taking office and at all times during their term of office, and to inform their
superior authority in accordance with the adopted Conflicts of Interest Management Policy. They shall also
complete a declaration on the management of conflicts of interest to the effect that there are no circumstances in
which the impartial or objective performance of their duties or other functions could be compromised, or if so, what
they are and what measures are in place. Conflicts of interest regarding cross-membership, cross-ownership and
the existence of controlling shareholders are disclosed to stakeholders. The members of the Management Board
annually supplement the statement on related parties and the possible existence of a conflict of interest, which is
checked by a statutory auditor within the scope of their competence. Details of related party transactions are
presented in the consolidated financial statements in Note 31 ‘Related party transactions’.
Diversity of members of the Management Board by gender
31 Dec 2023
Men
Women
TOTAL
Number of members
1
1
2
Share
50%
50%
100%
1 Jan 2024
Men
Women
TOTAL
Number of members
3
1
4
Share
75%
25%
100%
38 Annual report 2023 Corporate Governance Statement
Diversity of members of the Management Board by age
31 Dec 2023
Under 30
30 to 50
Over 50
TOTAL
Number of members
0
1
1
2
Share
0%
50%
50%
100%
1 Jan 2024
Under 30
30 to 50
Over 50
TOTAL
Number of members
0
1
3
4
Share
0%
25%
75%
100%
Presentation of Members of the Management Board is also available at https://luka-kp.si/eng/management.
4.6.3 Details of the composition of the Management Board
All details pertaining to members of the Management Board are listed in the table entitled ‘Composition of the
Management Board in the financial year 2023’, which is an integral part of this Corporate Governance Statement
and was prepared in accordance with Annexes C.1 of the Slovenian Corporate Governance Code for Listed
Companies and 3.1 of the Corporate Governance Code for State-Owned Enterprises.
4.7 Management Board’s work
The Management Board autonomously directs the operations of the Company in its best interests, and assumes
sole responsibility for its actions. It works in accordance with regulations, the articles of association and the binding
decisions of Company bodies.
4.7.1 Remuneration of the Management Board
15
Remuneration paid to Members of the Management Board consists of the fixed and variable components. They are
determined in fixed-term management operation employment contracts for Members of the Management Board,
in annexes to employment contracts and in decisions of the Supervisory Board. The remuneration of the
Management Board is determined by the Supervisory Board in accordance with the applicable remuneration policy
of the Company, which is adopted by the General Meeting and published on the website Corporate documents -
Luka Koper d.d. (luka-kp.si). The remuneration of the management and supervisory bodies is audited annually by
the statutory auditor. Concluded between individual Members of the Management Board and the Supervisory Board,
employment contracts and annexes also specify refunds and benefits. When concluding contracts and annexes for
Members of the Management Board, the Supervisory Board is represented by its Chair. The remuneration of the
Management Board is reported in the Accounting Report of Luka Koper d. d., Note 31 ‘Related party transactions’,
and in the table entitled ‘Composition of the management board in the financial year 2023’, which is an integral part
of the Company’s Corporate Governance Statement and is taken from the Appendix 4.1 of the Corporate Governance
Code for State-Owned Enterprises. The ownership of shares is reported in Chapter ‘15 The LKPG Share’.
4.7.2 Management performance assessment
16
According to the remuneration policy, the variable component of the remuneration of members of the Management
Board in a financial year is capped at 30 percent of the basic part of the remuneration of the member of the
management body paid in the previous financial year and is subject to the fulfilment of performance criteria,
whereby, according to the annexes concluded with the members of the Management Board for 2023, 70 percent of
the remuneration is based on quantitative performance measures, and 30 percent of the remuneration is based on
qualitative criteria, namely:
• Achievement of corporate social responsibility and sustainable development objectives, including the
Supervisory Board's assessment of the implementation of corporate culture development, employee
development, organisational climate, employee training, diversity, human rights, etc.
15
GRI 2-19, 2-20
16
GRI 2-18, 2-19
Corporate Governance Statement Annual report 2023 39
• Implementation of internal audit recommendations, risk management measures and project
implementation in 2023, including the Supervisory Board's assessment of the actual implementation of
the recommendations issued.
These non-financial criteria are used to pursue business objectives in the areas of organisational effectiveness,
environmental, social and governance responsibility, whereby the management's performance is assessed
annually and independently by the Supervisory Board with a reasoned decision and in accordance with the criteria
adopted each time, which follow the current remuneration policy.
4.8 Management and governance of companies in the Luka Koper Group
Luka Koper, d. d., has an established corporate governance system which includes the controlling company of the
Luka Koper Group and 4 subsidiaries. In addition, Luka Koper, d. d., has business shares in 11 other companies.
Objectives in the field of financial investment management were defined in the Strategic Business Plan of the
Company and the Group for the period 2020-2025. A new Strategic Business Plan for the period 2024-2028 was
adopted in 2023. The Investment Management Strategy, valid for 2023, divided finance investments into two
investment grades with respect to four key areas (integration in operations, maximisation of flexibility and
minimisation of risk, financial aspect and other externalities):
− Strategic investments are investments in shares and stakes of the companies engaged in activities that
are of importance for the future development and operation of the parent company, and contributing to
risk control and increased added value. They are managed in accordance with the principle of the group
operation.
− Non-strategic investments are investments in shares and stakes of the companies not engaged in
activities that are of importance for the future development and operation of the parent company, and
not contributing to risk control and increased added value. The aim is to maximise profit payment or
bring about other positive impacts for the owner. They are managed in accordance with the principle of
investment trust.
With the adoption of the Investment Management Strategy, guidelines for the decision-making and managing
aspects of management of strategic investments were also set. The dividend policy follows the classification of an
individual investment: when acting as a shareholder in non-strategic investments, we strive to achieve the objective
of maximised profit payment, and when acting as a shareholder in strategic investments, we pursue the objective
of a balanced profit payment under consideration of the investment-development company cycles.
Management and governance of subsidiaries in the Luka Koper Group as at 31 December 2023
Company
Managing Director
Share of the controlling
company in ownership
(in %)
Luka Koper INPO, d. o. o.
Robert Krajnc
100.00
Adria Terminali, d. o. o.
Mitja Dujc
100.00
Logis-Nova, d. o. o.
Larisa Škandra
100.00
TOC, d. o. o.
Ankica Budan Hadžalič
68.13
4.9 Internal audit
The purpose of the internal audit is to carry out the function of internal auditing for the Luka Koper Group. Internal
audit helps to achieve the Group's objectives by systematically and methodically assessing and improving the
performance of the Group's corporate governance, risk management and internal control systems, and by
proposing recommendations for improvement.
It is organised as an independent organisational unit within Luka Koper, d. d., subordinated in function to the
Supervisory Board, and in organisation to the Management Board of the company. It operates independently and in
accordance with the adopted Internal Audit Charter and Rules of Procedure, which are based on a hierarchy of
internal audit rules.
40 Annual report 2023 Corporate Governance Statement
In 2023, the internal audit carried out internal audit engagements and other activities based on the adopted annual
plan of work. In implementing the transactions, the risks identified in the preparation of the annual plan served as
guidance, and were also supplemented in the phase of detailed observation of each audit area and initial risk
assessment. A major part of the assurance service involved verifying the adequacy of the design of internal controls
and their operation in accordance with predefined objectives and standards.
The internal audit reported on each individual engagement to the management of the audited unit, the Company’s
Management Board and the Audit Committee of the Supervisory Board; and to the latter two, it also reported on
the implementation of internal audit recommendations. The internal audit reports to the Supervisory Board on an
annual basis.
In addition to the internal audit engagements, post-audit activities were carried out on a monthly basis in 2023 to
report on an ongoing basis on the activities carried out to better manage risks.
The development of internal audit is achieved through a programme of quality assurance and quality improvement,
implemented through external and internal audits, self-assessment, training, and monitoring and performance
measurement of internal audit work. The last external audit, which confirmed that the internal audit function
complies with the International Standards for the Professional Practice of Internal Auditing, the Code of Ethics for
Internal Auditors and the Code of Ethics for Internal Auditors, was carried out in 2020.
4.10 External audit
At the 37th meeting of 28 August 2023, the General Meeting of Shareholders appointed the audit firm BDO Revizija,
d. o. o., družba za revidiranje, Cesta v Mestni log 1, Ljubljana for the audit of the financial statements of Luka Koper,
d. d., and the Luka Koper Group for the business years 2023, 2024 and 2025.
The costs of audit services performed for Luka Koper, d. d., and its subsidiaries are presented in the consolidated
accounting report, Note 33 ‘Transactions with the audit firm’.
Nevenka Kržan
President of the Management Board of Luka Koper, d. d.
Gregor Belič
Member of the Management Board of Luka Koper, d. d.
Gorazd Jamnik
Member of the Management Board of Luka Koper, d. d.
Vojko Rotar
Member of the Luka Koper, d. d. Management Board - Worker Director
Corporate Governance Statement Annual report 2022 41
4.11 Appendix to the Corporate Governance Statement
17
Name and surname Function (Chair, Member)
First
appointmen
t to office
End of
office /
term of
Gender Citizenship Year of birth Education Professional profile
Membership in
management or
supervisory bodies of
Boštjan Napast Chair 03.12.2021 30.06.2023 Man Slovenian 1971 Level 7
University Graduate in
Mechanical Engineering
Member of the
Supervisory Board in
Plinovod d. o. o. until 10
Jan 2023
Nevenka Kržan Member 01.07.2022 30.06.2023 Woman Slovenian 1962 Level 7
University Graduate in
Economics
Member of the
Supervisory Board in
Pokojninska družba A, d.
d., since 13 Jun 2023
Nevenka Kržan Chair 01.07.2023 ongoing Woman Slovenian 1962 Level 7
University Graduate in
Economics
Member of the
Supervisory Board in
Pokojninska družba A, d.
d., since 13 Jun 2023
Vojko Rotar Member - Worker Director 16.02.2018 ongoing Man Slovenian 1976 Level 6 Graduate in Economics no
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Chair
07.02.2023
ongoing
Representative of shareholders
15/15
Man Slovenian
1958
Level 7 University Graduate in Law Yes No no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
/
/
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member, Deputy Chair since 21 Feb 2023
07.06.2022
ongoing
Representative of shareholders
19/19 Man Slovenian
1965
Level 7
B. Eng. in Metallurgical
Technologies; University Graduate
in Economics
Yes No
Member of the
Supervisory Board of
Zavarovalnica Triglav d.
d.
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER/MEMBER 2/2, 0/0
CHAIR/MEMBER 8/8, 5/5
3.1: Composition of the Management Board for the Financial Year 2023
3.2: Composition of the Supervisory Board and Committees in the Financial Year 2023
Mirko Bandelj
Committee member
/
Committee member
BUSINESS OPERATIONS COMMITTEE / STRATEGIC DEVELOPMENT COMMITTEE until 6 Feb 2023
Tomaž Benčina
since 21 Feb 2023 HR COMMITTEE / BUSINESS OPERATIONS COMMITTEE
42 Annual report 2021 Corporate Governance Statement
17
GRI 2-19
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
Completion
of function
/ mandate
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
07.02.2023
ongoing
Representative of shareholders
15/15
Woman Slovenian
1964
Level 7
University Graduate in Economics,
Auditing specialist
Yes
Yes/Pošta
Slovenije, d. o.
o.
Member of the
Supervisory Board of
Pošta Slovenije, d. o. o.,
Deputy Chairman of the
AMZS Supervisory
Board, d. d.
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
CHAIR 9/9
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
07.02.2023
ongoing
Representative of shareholders
15/15
Man Slovenian
1958
Level 7 University Graduate in Economics Yes
Yes/Pošta
Slovenije, d. o.
o.
Member of the
Supervisory Board of
Pošta Slovenije, d. o. o.,
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
CHAIR/MEMBER 5/5, 8/8
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
07.02.2023
ongoing
Representative of shareholders
14/15
Man Slovenian
1978
Level 7
University Graduate in Economics;
MBA
Yes No
Deputy Chairwoman of
the Supervisory Board of
the Public Company
Uradni list Republike
Slovenije, d. o. o.
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER / MEMBER 8/8, 9/9
Barbara Nose
Committee member
AUDIT COMMITTEE
Jožef Petrovič
Committee member
BUSINESS OPERATIONS COMMITTEE / HR COMMITTEE
Boštjan Rader
Committee member
HR COMMITTEE / AUDIT COMMITTEE
Corporate Governance Statement Annual report 2022 43
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
07.02.2023
ongoing
Representative of shareholders
18/19
Man Slovenian
1972
Level 7 Graduate in History Yes
Yes/Conbulk, d.
o. o.,
Bluemarine, d.
o. o.
no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER / MEMBER 7/7
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Chair
02.07.2021 06.02.2023
Representative of shareholders
4/4
Man Slovenian
1963
Level 7 University Graduate in Law Yes No
Deputy Chair of the
Supervisory Board of
Slovenske železnice, d.
o. o. until 14 February
2023
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
CHAIR 2/2
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Deputy Chair
02.07.2021 06.02.2023
Representative of shareholders
4/4
Woman Slovenian
1962
Level 7 University Graduate in Law Yes No no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER/MEMBER/DE
PUTY CHAIR/CHAIR
2/2, 2/2, 2/2, 0/0
Franci Matoz
Committee member
HR COMMITTEE
Nevenka Črešnar Pergar
Committee member
HR COMMITTEE, AUDIT COMMITTEE, BUSINESS OPERATIONS COMMITTEE, STRATEGIC
DEVELOPMENT COMMITTEE
Committee member
BUSINESS OPERATIONS COMMITTEE
Borut Škabar
44 Annual report 2021 Corporate Governance Statement
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
02.07.2021 06.02.2023
Representative of shareholders
4/4
Man Slovenian
1980
Level 7 University Graduate in Economics Yes No no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
CHAIR/DEPUTY CHAIR 2/2, 0/0
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
02.07.2021 06.02.2023
Representative of shareholders
4/4
Man Slovenian
1972
Level 8 Master’s Degree in Economics Yes No no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER/DEPUTY
CHAIR/CHAIR
2/2, 2/2, 2/2
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
End of
office /
term of
office
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
8.4.2009
ongoing
Representative of employees
19/19 Man Slovenian
1969
Level 5 Electrical technician Yes No no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
MEMBER/MEMBER 2/2, 0/0
MEMBER 5/5
Committee member
Mladen Jovičič
Committee member
BUSINESS OPERATIONS COMMITTEE / STRATEGIC DEVELOPMENT COMMITTEE until 6 Feb 2023
since 21 Feb 2023 BUSINESS OPERATIONS COMMITTEE
M.Sc Božidar Godnjavec
Andrej Koprivec
Committee member
AUDIT COMMITTEE, STRATEGIC DEVELOPMENT COMMITTEE
HR COMMITTEE, AUDIT COMMITTEE, BUSINESS OPERATIONS COMMITTEE /
Corporate Governance Statement Annual report 2022 45
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
t to office
Completion
of function
/ mandate
Representative of
shareholders /
employees
Attendance at SB
meetings
proportional to the
total number of SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
of the Code (YES
/ NO)
Existence of
conflicts of
interest in the
financial year
(YES / NO)
Membership in
management or
supervisory bodies of
other companies
Member
12.9.2016
ongoing
Representative of employees
19/19 Man Slovenian
1987
Level 6 Graduate in Economics Yes No no
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER/MEMBER 2/2, 0/0
MEMBER 9/9, 0/0
Name and surname Function (Chair, Deputy, SB Member)
First
appointmen
Completion
of function
Representative of
shareholders /
Attendance at SB
meetings
Gender Citizenship Year of birth Education Professional profile
Independence
under Article 23
Existence of
conflicts of
Membership in
management or
Member
19.1.2020
ongoing
Representative of employees
19/19
Man Slovenian
1972
Level 6/1 Logistics Engineer Yes No No
Chair / Member
Attendance at
committee
meetings
proportional to the
total number of
committee
meetings
MEMBER 9/10
Attendance at
committee meetings
proportional to the
total number of
committee meetings
Gender Citizenship Education Year of birth Professional profile
Membership in management or
supervisory bodies of unrelated
companies
2/2
Man Slovenian Level 7 1977
University Graduate in
Economics
no
9/9
Woman Slovenian Level 8 1972
Master’s Degree in
Economics
NLB Banka AD Skopje, independent
member of the supervisory board,
NLB Banka Prishtina, non-executive
independent member of the board
of directors
Mehrudin Vuković
Committee member
HR COMMITTEE
External committee member (audit, HR, remuneration committee, etc.)
Name and surname
COMMITTEE
Simon Kolenc
Audit Committee until 6
Feb 2023
Committee member
since 21 Feb 2023 AUDIT COMMITTEE
Mateja Treven
Audit Committee since 21
Feb 2023
Rok Parovel
AUDIT COMMITTEE / STRATEGIC DEVELOPMENT COMMITTEE until 6 Feb 2023
46 Annual report 2021 Corporate Governance Statement
4.1 Composition and Amount of Remuneration* of Management Board Members in the Financial Year 2023
(in EUR)
based on
quantitative criteria
Total (2)
Vojko Rotar Member of the Management Board - Worker Director 190,462.80 12,178.55 40,595.16 39,266.53 0.00 1,669.75 0.00 271,994.24
Robert Rožac Member of the Management Board until 31 Dec 2022 13,967.60 7,110.36 23,701.20 0.00 48,463.21 0.00 0.00 86,132.01
Boštjan Napast President of the Management Board until 30 Jun 2023 122,138.48 8,361.51 27,871.71 0.00 122,255.28 167.67 0.00 272,433.14
Nevenka Kržan Member of the Management Board until 30 Jun 2023 109,783.52 3,779.50 12,598.34 12,598.34 0.00 169.67 0.00 135,149.87
Nevenka Kržan President of the Management Board since 1 Jul 2023 89,073.06 0.00 0.00 0.00 0.00 91.72 0.00 89,164.78
* for the purpose of this disclosure, it is not necessary to disclose travel, accommodation and subsistence expenses because they do not by their nature constitute payment to the Management Board.
** deferred payment of the second half of the award under the Act Governing the Remuneration of Managers of Companies with Majority Ownership held by the Republic of Slovenia or Self-Governing Local Communities as at 31 Dec 2023
*** bonus for liability insurance and bonus for use of a company vehicle
(in EUR)
Basic pay for
holding the
office
Additional payment
for special tasks
Total (1)
Franci Matoz Chair until 6 Feb 2023 2,794.52 0.00 5,103.25 1,980.00 7,083.25 16.16
Nevenka Črešnar Pergar Deputy Chair until 6 Feb 2023 2,794.52 0.00 4,428.57 3,300.00 7,728.57 183.63
Andrej Koprivec Member until 6 Feb 2023 2,794.52 0.00 4,151.79 1,980.00 6,131.79 183.63
Božidar Godnjavec Member until 6 Feb 2023 2,794.52 0.00 4,151.79 3,300.00 7,451.79 256.40
Tomaž Benčina Member until 6 Feb 2023 and Deputy Chair since 7 Feb 2023 15,000.00 0.00 23,294.65 7,766.00 31,060.65 2,461.36
Mladen Jovičič Member 15,000.00 0.00 19,263.40 6,270.00 25,533.40 0.00
Mehrudin Vuković Member 15,000.00 0.00 18,571.43 6,446.00 25,017.43 15.20
Rok Parovel Member 15,000.00 0.00 19,263.40 6,842.00 26,105.40 0.00
Simon Kolenc External member of the SB’s Audit Committee until 22 Feb 2023 0.00 1,532.15 660.00 2,192.15 66.42
Mirko Bandelj Chair since 7 Feb 2023 12,205.48 0.00 17,991.08 3,190.00 21,181.08 865.56
Jožef Petrovič Member since 7 Feb 2023
12,205.48 0.00 17,991.08 5,786.00 23,777.08 1,857.67
Boštjan Rader Member since 7 Feb 2023
12,205.48 0.00 17,991.08 6,138.00 24,129.08 807.03
Borut Škabar
Member since 7 Feb 2023
12,205.48 0.00 15,111.61 4,290.00 19,401.61 0.00
Barbara Nose Member since 7 Feb 2023
12,205.48 0.00 16,191.44 4,862.00 21,053.44 1,378.74
Mateja Treven External Member of the SB's Audit Committee since 23 Feb 2023
0.00 5,067.86 1,672.00 6,739.86 376.02
*gross amount
1,532.15
5,785.60
5,785.60
5,785.60
19,510.20
8,818.84
28,416.61
16,590.84
Bonuses (5)***
Bonus clawback (6)
5,067.86
4,263.40
2,906.13
3,985.96
2,308.73
1,634.05
1,357.27
4.2 Composition and Amount of Remuneration* of Members of the Supervisory Board and its Committees in the Financial Year 2023
Name and surname
Function (Chair, Deputy,
Member, External Member of the Committee)
Performance fee and allowances - gross annual (1)
Supervisory
Board and
Committee
attendance
Gross Total (1 + 2)
Travel expenses*
1,357.27
8,294.65
4,263.40
3,571.43
0.00
Additional payment
for holding the office
Total Gross
(1+2+3+4+5-6)
Name and surname
Function (Chair, Member)
Fixed
income -
gross (1)
Variable income - gross
Deferred
income (3) **
Severance pay (4)
based on quantitative criteria
Survey of relevant events, novelties and achievements in 2023 Annual report 2023 47
5 Survey of relevant events, novelties and
achievements in 2023
FEBRUARY
• At the beginning of February, Luka Koper, d. d., issued a call for sponsorships and donations from the
Living with the Port Fund.
• The Management Board of Luka Koper, d. d., convened the 36th General Meeting of Shareholders of Luka
Koper, d. d., which was held on 6 February 2023. At the General Meeting, the shareholders recalled the
members of the Supervisory Board, Franci Matoz, Nevenka Črešnar Pergar, Andrej Koprivec and Božidar
Godnjavec, and appointed new members of the Supervisory Board, i.e. Borut Škabar, Barbara Nose, Jožef
Petrovič, Boštjan Rader and Mirko Bandelj, with effect from 7 February 2023.
• On 23 February 2023, the Supervisory Board of Luka Koper, d. d., met for the first time in its renewed
composition. At the first, inaugural meeting, the members elected Mirko Bandelj as Chair and Tomaž
Benčina as Deputy Chair. All three committees of the Supervisory Board – Audit, HR and Business
Operations – were also newly formed.
MARCH
• On 23 March, Luka Koper d. d., organised a business event for Polish business partners in Warsaw. It was
attended by more than 150 local logisticians, as well as representatives of the Koper port community.
• At the end of March, the world's largest cruise ship tourism fair 'Seatrade Cruise Global 2023' took place
in Miami, where Luka Koper, d. d., presented itself together with other stakeholders involved in nautical
tourism activities in Slovenia.
APRIL
• At its meeting on 13 April 2023, the Supervisory Board of Luka Koper, d. d., reviewed the proposal for the
use of the accumulated profit proposed by the Management Board and the Supervisory Board to the
General Meeting of Shareholders for approval. The Management Board and the Supervisory Board of the
Company proposed that the accumulated profit of EUR 50,229,863.63 as at 31 December 2022 be used as
follows: a portion of the accumulated profit of EUR 35,000,000.00 shall be allocated for the payment of
dividends with a gross value of EUR 2.50 per ordinary share, and the remainder of the accumulated profit
of EUR 15,229,863.96 shall remain unappropriated.
MAY
• Between 9 and 12 May, Luka Koper d. d., presented itself at Europe's largest logistics fair, Transport
Logistic München.
• At its meeting on 18 May 2023, the Supervisory Board of the company Luka Koper, d. d., took note of the
agreement on the early termination of the term and the employment relationship concluded by the
company and the President of the Management Board, Boštjan Napast, and based on this agreement
adopted the decision on the early termination of the term the president of the board. Boštjan Napast held
the position of President of the Management Board until 30 June 2023 inclusive. The Supervisory Board
also decided to launch immediately an open cal for the appointment of a new Management Board. For the
period from 1 July 2023 until the end of the nomination procedure, board member Nevenka Kržan
assumed the chairmanship of the Management Board.
• On 20 May, the company organised the traditional Port Day, which attracted 3,000 visitors.
• On 22 May, a summit on ports, logistics, transport and maritime economy in the Adriatic region was held
in Trieste, with the active participation of representatives of the Port of Koper.
• From 20 to 23 May, Luka Koper, d. d., as part of a government economic delegation, participated in several
events in Vietnam, which represents a significant potential for the port of Koper and Slovenian logistics in
general.
• On 25 May, Luka Koper, d. d., announced the convening of the 37th General Meeting of Shareholders for
28 June 2023.
48 Annual report 2023 Survey of relevant events, novelties and achievements in 2023
JUNE
• The Business Conference on Logistics took place in Belgrade on 6 June. The event was organised by the
Chamber of Commerce and Industry of Slovenia in cooperation with Luka Koper, the SPIRIT Slovenia
Public Agency, Slovenian Railways, the Chamber of Commerce and Industry of Serbia and the Slovenian
Business Club Belgrade. The Slovenian logistics delegation aimed to find additional opportunities for
cooperation with Serbian logistics companies.
• On 8 and 9 June, the company organised a two-day 'CoolWorkshop' at the container and reefer terminals,
with a detailed presentation of services. It was attended by representatives of Polish logistics, transport
operators, importers and exporters.
• On 21 June, a meeting of North Adriatic ports took place in Trieste, where port representatives signed a
Memorandum of Understanding to jointly strengthen port decarbonisation and energy efficiency, paving
the way for greater institutional and operational cooperation between North Adriatic ports in the coming
years.
• The traditional Österreichischer Logistik Tag+Logistik Future Lab took place in Linz on 20 and 21 June. It
is the most important logistics event in Austria, where Luka Koper, d. d., presented itself again this year.
• On 22 June, the Baltic-Adriatic Corridor Coordinator Anne E. Jensen and her colleagues visited the Port
of Koper. The purpose of the visit was to review past, current and planned activities being implemented in
part or in full within the framework of European projects.
• At the 37th Annual General Meeting held on 28 June 2023, the shareholders:
o Adopted the resolution to earmark EUR 2.50 gross per share for dividends, for which the
Company will allocate EUR 35,000,000.00 out of the total accumulated profit for 2022 of EUR
50,229,863.96;
o Approved the remuneration report on the members of the management and supervisory bodies
and granted a discharge to the Management Board and the Supervisory Board for 2022;
o Appointed BDO Revizija d. o. o., as the audit firm for the financial years 2023, 2024 and 2025;
o Adopted the remuneration policy for management, supervisory and subsidiary management
bodies,
o Rejected the proposal to set the remuneration and attendance fees for the members of the
Supervisory Board and of the committees.
JULY
• In the hinterland of Basin III, one of the most important investments in the cat segment at the Port of
Koper was completed and put into operation at the beginning of July, i. e., a new storage area for an
additional 3,500 vehicles in the area of cassette 5.
• Pursuant to Article 29 of the Articles of Association of Luka Koper, d. d., the Supervisory Board of the
company published a vacancy announcement for the position of President of the Management Board (m/f)
or Member of the Management Board (m/f).
• Luka Koper, d. d., received the judgement of the High Court of Koper (CPG 50/2023) of 6 July 2023, which
rejected the appeals of the plaintiff and all defendants against the judgement of the District Court of Koper
(I Pg 265/2021 of 28 Sep 2022). The High Court of Justice thus upheld the judgement of the Court of First
Instance regarding the liability for damages of the former members of the Supervisory Board in the case
of the purchase of a 10 percent share in the logistics holding Trade Trans Invest (TTI) in the amount of EUR
16,387,100, with interest thereon. The judgement is final.
• On 19 July, Koper was hit by a storm during which the mooring ropes of a container ship snapped, causing
the stern section of the ship to move towards the south side of basin I. Adria-Tow tugs were involved in
the rescue, stabilising the ship and pushing it along the quayside of the container terminal. High winds
and rain caused several other damaging events in the port. No one was injured during the storm.
• In July, the EMAS certificate awarded by the Ministry of Environment, Climate and Energy (MOPE) was
renewed. The certification demonstrates the company's compliance with legislative requirements, its
continuous progress in the environmental field and its open and transparent communication with the
public.
AUGUST
• In mid-August, the company received a permit for 315 new plugs for refrigerated containers, bringing the
total number of reefer plugs at the container terminal to more than 1,000.
• On 22 August, the Mito arrived in port to inaugurate the new shipping service of the Japanese shipping
company Ocean Network Express (ONE). The ‘Adriatic Israel Butterfly Loop’ service connects Koper with
Israel, Egypt and Greece on a weekly basis.
• On 31 August, Luka Koper, d. d., announced its dividend policy.
Survey of relevant events, novelties and achievements in 2023 Annual report 2023 49
SEPTEMBER
• On 19 September, the millionth passenger in the history of the passenger terminal, which was opened in
2005, arrived at the Port of Koper.
• On 22 September, a donation of 241 pallets of bricks was organised together with the Administration of
the Republic of Slovenia for Civil Protection and Disaster Relief as part of the activities to help those
affected by the August storms. The brickwork is special in that it is made from excavated marine sediment,
which was collected by the Port of Koper over the years during the dredging of the port's basins.
• On 28 September, a delegation from the Ministry of Cohesion and Regional Development, headed by the
State Secretary responsible for Cohesion Policy, Mr Marko Koprivec, visited the Port of Koper and met
with the company's management. The working meeting was intended to familiarise with implemented
activities of the SOPOREM project, as part of which one of the largest solar power plants in Slovenia will
be built in the port of Koper.
OCTOBER
• On 6 October, Nevenka Kržan, President of the Management Board of Luka Koper, together with Matjaž
Han, Minister of the Economy, Tourism and Sport, attended a round table on logistics and transport at the
Austrian Chamber of Commerce and Industry in Vienna. Many leading representatives of Austrian logistics
companies participated in the event.
• On 10 October, Luka Koper, d. d., hosted a high-level governmental and economic delegation from Vietnam
headed by the Minister of Industry and Trade, H. E. Nguyen Hong Dien. The purpose of the visit was to look
for new business opportunities on the Slovenia-Vietnam route, which also represents a great potential for
the Port of Koper and Slovenian logistics in general.
• On 10 October, Luka Koper d. d., hosted Martin Candinas, President of the National Council of Switzerland,
who was accompanied by Gabriele Pia Schreier, Ambassador of Switzerland in Slovenia and her
delegation. The high-ranking guests were welcomed by the company's Management Board, headed by its
President Nevenka Kržan, who presented the company's business and development projects to the
delegation.
• On 12 October, the new tug Ares of the associated company Adria-Tow, d.o.o. was launched.
• On October 12, the first part of the assessment of ISO 37001/2016 ‘Anti-bribery management systems’ was
carried out.
• On 23 October, Luka Koper, d. d., hosted governor of the Austrian region of Styria, Mr. Christopher Drexler,
and his delegation, accompanied by the Ambassador of the Republic of Austria to Slovenia, H.E. Elisabeth
Ellison-Kramer and the Managing Director of Cargo Center Graz, Mr Robert Brugger.
• On 24 and 25 October, Luka Koper, d. d., organised traditional events in Vienna and Prague for business
partners in these key markets of Luka Koper.
NOVEMBER
• On 7 November, the final conference of the European 5G-Loginnov project was held in Koper, as part of
which the development and testing of the next generation 5G mobile network for the needs of ports and
logistics took place over the past three years.
• On 9 November, Luka Koper, d. d. and the Vietnamese electric vehicle manufacturer VinFast confirmed
their cooperation in the field of transhipment of VinFast vehicles through the Port of Koper by signing an
agreement. The partnership between the two companies also provides a solid foundation for the
establishment of VinFast's sustainability strategy in the European market.
• On 14 November, Luka Koper, d. d., hosted the Ambassador of Poland, H.E. Krzysztof Olendzki, who was
accompanied by a representative of the Polish Port of Gdansk and a representative of the Centre for
Eastern Studies. The visit was of a working nature, aiming to identify points of contact and opportunities
for cooperation in the coming years.
• On 15 and 16 November, Luka Koper d. d., organised the traditional reception for business partners in
Bratislava and Budapest.
• On 23 November, the Supervisory Board of Luka Koper, d. d., approved the business plan for 2024.
• On 30 November, the Supervisory Board of Luka Koper, d. d., at its regular meeting, appointed Gregor
Belič and Gorazd Jamnik as new members of the Management Board of the company, whose five-year
terms of office started on 1 January 2024. Nevenka Kržan remains on the Management Board as President
and Vojko Rotar as Member of the Management Board - Worker Director.
• At the same meeting, the Supervisory Board also discussed and approved the new Strategic Business Plan
of the Company and the Luka Koper Group for the period 2024-2028.
50 Annual report 2023 Survey of relevant events, novelties and achievements in 2023
DECEMBER
• On 4 December, the container terminal once again surpassed the milestone of 1 million handled contained
units (TEUs), confirming the position of Luka Koper, d. d., as the leading container port in the Adriatic.
November was a record month for the car and Ro-Ro terminal, with 88,837 vehicles handled, surpassing
the previous absolute monthly record.
• On 7 December, the traditional pre-New Year reception of Luka Koper for the port community was
organised in Koper.
• On 20 December, Luka Koper, d. d., hosted the Ambassador of Japan to Slovenia, H.E. Akiko Yoshida. The
purpose of the visit was familiarisation, as it was aimed at finding opportunities for expanding cooperation
and the advantages of using the Slovenian logistics transport route and the port of Koper for Japanese
companies.
• On 22 December, the Mayor of the Municipality of Koper, Aleš Bržan, the President of the Management
Board of Luka Koper, Nevenka Kržan, and a member of the Management Board - Worker Director of Luka
Koper, Vojko Rotar, signed a new agreement on the implementation of mitigation measures to reduce the
environmental impact of the port's activities, thus further strengthening the existing good cooperation
between the port and the local community.
Relevant events after the end of the financial year Annual report 2023 51
6 Relevant events after the end of the
financial year
JANUARY 2024
• On 10 January, the new external truck terminal at Sermin was officially opened. This is the most modern
truck parking facility in Slovenia, providing a high level of service and safety for truck drivers according to
EU standards. The truck terminal has 203 parking spaces for trucks, offices for freight forwarders, an info
point for announcing port entry and all the necessary infrastructure. The investment has been funded by
the European Commission under the Connecting Europe Facility programme in the amount of EUR 4.89
million - the new car park will thus also meet the so-called gold standard level of service and safety for
its users. The new terminal, together with the investments that will follow in the coming years, will
significantly contribute to the relief of traffic and greater flow on the roads towards the city, as the old
truck terminal, located near the city's shopping centre, has closed.
• On 25 January, Nevenka Kržan, President of the Management Board of Luka Koper, Gregor Belič, Member
of the Management Board of Luka Koper, Andrej Rajh, State Secretary at the Ministry of Infrastructure,
and Gregor Strmčnik, Mayor of the Municipality of Ankaran, signed the three contracts which are the basis
for the start of the reconstruction of the Železniška cesta and the development of the Ankaran peripheral
canal.
• On 26 January, Luka Koper, d. d., informed potential tenderers of its intention to carry out a public
procurement procedure for the construction of the northern part of Pier I and invited them to a
professional dialogue.
• On 31 January, Luka Koper, d. d., published a call for sponsorships and donations from the Living with the
Port Fund.
FEBRUARY 2024
• On 12 February, the company's Management Board hosted Florence Levy, Ambassador of France in
Slovenia. Representatives of Luka Koper presented the development plans to the Ambassador and the
delegation, which also took advantage of the visit to see the ship of the French container shipbuilder CMA
CGM, T. Roosevelt, which measures 366 metres in length and just over 48 metres in width. With a total
capacity of 14,402 TEUs, it is the largest ship of the French ship-owner CMA CGM ever to berth in the Port
of Koper and is included in the weekly direct service from the Far East.
• In February, the Municipality of Koper launched a public call for proposals for grants from Luka Koper, d.
d., to the residents of Koper’s wider urban core for the implementation of measures to reduce the impact
of emissions from port operations. In 2024, EUR 320,000 is available for such measures, plus the
remaining funds from last year's call for proposals.
MARCH 2024
• Following an audit carried out in January 2024, Luka Koper d. d., received the ISO 37001/2016 certificate
in March 2024 for the management system in place for the prevention of corruption.
52 Annual report 2023 Presentation of the Luka Koper Group and a description of the business model
7 Presentation of the Luka Koper Group
and a description of the business
model
18
Luka Koper as the only Slovenian multipurpose port is set at the crossroads of transport routes and comprises an
integrated marine and coastal area, which accommodates port operations related to cargo and passenger transport
services. With a reliable port offering and an extensive network of sea and rail connections, it supports global
logistics solutions to the heart of Europe.
The core activity of the port, operated by Luka Koper, d. d., is the provision of reliable, high-quality transhipment
and warehousing services for all types of goods, complemented by a range of additional services. The company also
ensures the development and maintenance of port infrastructure. Customers are provided with comprehensive
logistical support. Its goals are ambitious and are largely being achieved. By implementing the development policy
of the port, Luka Koper, d. d., is reinforcing its competitive advantage. In 2023, there were no changes in the
performance of the port's activities.
The port is surrounded by residents on two sides, and by natural environment of special importance (Natura 2000)
on one side, whereas its external face is embraced by the vulnerable marine ecosystem. Due to its location, Luka
Koper, d. d., has been seeking to improve the quality of life in the entire area in which the port is situated for a
number of years.
The port's activities are in line with sustainable development guidelines. Its planned development is based on four
starting points: increasing infrastructure capacity and capability, accelerating the introduction of the smart port
concept, ensuring adequate staffing, and taking care of sustainability aspects and reducing negative impacts on the
environment and society. The multi-purpose port model, which is one of the company's key competitive advantages,
continues to be maintained.
In addition to the controlling company Luka Koper, d. d., the Luka Koper Group also includes subsidiaries and
associates. The companies of the Luka Koper Group operate in the territory of the Republic of Slovenia, whereas
Adria Transport Croatia, d. o. o., a company 100%-owned by Adria Transport, d. o. o., operates in the Republic of
Croatia. In 2023, there was a change in the composition of the Luka Koper Group, which is reported in more detail
in Section 7.3 ‘Inclusion into consolidated financial statements’.
The Luka Koper Group provides eleven basic services (loading/unloading of ships, loading/unloading of trucks,
loading/unloading of wagons, embarkation/disembarkation of passengers, storage, delivery, ship berthing) and a
range of complementary services on goods and other services, providing customers with comprehensive logistics
support.
Sustainability and development are reported in more detail in the Sustainability Report further on in this document.
18
GRI 2-1, 2-6
Presentation of the Luka Koper Group and a description of the business model Annual report 2023 53
7.1 Company profile of Luka Koper, d. d., as at 9 April 2024
19
Company name
LUKA KOPER, pristaniški in logistični sistem,
delniška družba
Trade name
LUKA KOPER, d. d., Vojkovo nabrežje 38, 6000
Koper – Capodistria
Registered office
Koper
Business address
Koper, Vojkovo nabrežje 38, 6000 Koper/Capodistria
Legal form of organisation
Public limited company
Phone: 00 386 (0)5 66 56 100
Fax: 00 386 (0)5 63 95 20
E-mail: portkoper@luka-kp.si
Website: www.luka-kp.si
Sustainable development website:
http://www.zivetispristaniscem.si
Court register of companies
District Court of Koper, entry no. 066/10032200
Registration number:
5144353000
ID for VAT:
SI 89190033
Share capital
EUR 58,420,964.78
Number of shares
14,000,000 ordinary no-par value shares
Share listing
Ljubljana Stock Exchange, Prime Market
Share ticker symbol
LKPG
President of the Management Board
Nevenka Kržan
Member of the Management Board
Gregor Belič
Member of the Management Board
Gorazd Jamnik
Member of the Management Board - Worker Director
Vojko Rotar
President of the Supervisory Board
Mirko Bandelj
Core business
Seaport and logistics system service provider
Activities performed by the Luka Koper Group
Various service activities
19
GRI 2-1
54 Annual report 2023 Presentation of the Luka Koper Group and a description of the business model
7.2 Organisation of the Luka Koper Group and associates
20
The Luka Koper Group includes related parties that contribute to the comprehensive range of services provided by
the port. The Luka Koper Group includes five companies, i.e., the controlling company and four subsidiaries:
Luka Koper Group as at 31 December 2023
• Controlling company Luka Koper, d. d.
• Subsidiaries
o Luka Koper INPO, d. o. o., 100%
o Adria Terminali, d. o. o., 100%
o Adria Investicije, d. o. o., 100%, 100%-owned by Adria Terminali, d. o. o.
21
o Logis-Nova, d. o. o., 100%
o TOC, d. o. o., 68.13%
Associates
• Adria Transport, d. o. o., 50%
o Adria Transport Croatia, d. o. o., 50%, 100%-owned by Adria Transport, d. o. o.
• Adria-Tow, d. o. o., 50%
• Adriafin, d. o. o., 50%
• Avtoservis, d. o. o., 49%
The sustainability report includes 5 companies composing the Luka Koper Group (the controlling company and
subsidiaries), each of them under sections pertaining to their operations. Reporting levels are defined for each
section in the GRI index. Changes within subsidiaries and associates are reported in more detail in Chapter 31.1
‘Bases for the preparation of financial statements’.
7.3 Inclusion into consolidated financial statements
22
The consolidated financial statements of the Luka Koper Group for the year ended 31 December 2023 consist of the
financial statements of the controlling company Luka Koper d. d., its subsidiaries and corresponding results of
associates.
Subsidiaries included in the consolidated financial statements:
• Luka Koper INPO, d. o. o., 100%
• Adria Terminali, d. o. o., 100%
• TOC, d. o. o., 68.13%
Associates included in the consolidated financial statements:
• Adria Transport, d. o. o., 50%
o Adria Transport Croatia, d. o. o., 50%, 100%-owned by Adria Transport, d. o. o.
• Adria-Tow, d. o. o., 50%
• Adriafin, d. o. o., 50%
• Avtoservis, d. o. o., 49%
Companies excluded from the consolidated financial statements as at 31 December 2023:
• Logis-Nova, d. o. o., 100%
• Adria Investicije, d. o. o., 100%
The companies Adria Investicije, d. o. o., and Logis-Nova, d. o. o., were not included in the consolidated financial
statements as they operate in a limited scope and are not considered significant for a fair presentation of the
Group’s financial position.
20
GRI 2-2
21
In accordance with the decision of the sole shareholder, the investment in Adria Investicije d. o. o., was transferred to Adria
Terminali d. o. o., as at 31 Dec 2023, as a subsequent contribution recorded in capital reserves.
22
GRI 2-2
Presentation of the Luka Koper Group and a description of the business model Annual report 2023 55
7.4 Activities of the Luka Koper Group
23
7.4.1 Concession agreement
In 2008, Luka Koper, d. d., concluded with the State the Concession Agreement for the performance of port activity,
management, development and regular maintenance of the port infrastructure in the area of the Koper cargo port.
The concession agreement was concluded for a period of 35 years, as stipulated in the Maritime Code. The agreed
concession fee amounts to 3.5 percent of the Company's sales revenue, excluding port fee income. The concession
fee also includes the water right, water charges and other duties related to the use of the sea belonging to the
Republic of Slovenia. Luka Koper, d. d., pays the total concession fee to the Republic of Slovenia, which then
allocates half of the amount to the two local communities, the Municipality of Koper and since 1 January 2015, also
to the Municipality of Ankaran.
Two public utility services are performed in Luka Koper, d. d., i.e., the public utility service of regular maintenance
of the port infrastructure intended for public transport and the public utility service of collecting waste from vessels
in the Koper port area.
7.4.2 Port and logistics operations
The core port activity of throughput and warehousing is carried out at twelve specialised port terminals, which are
organised according to the goods/cargo they receive. Each terminal has its own characteristics depending on its
goods-specific work process, technological procedures and technology. The terminals are joined into five profit
centres. They are described in detail on the website Services & terminals - Luka Koper d. d. (luka-kp.si). The main
port activity is carried out at one location, i.e., in the port area.
The onshore part of the concession area consists of 300 ha of land, with 63.1 ha of warehouses and 118.3 ha of
open-air storage areas. 30 berths are located on 3,475 metres of the shoreline along 224 hectares of the sea. In
terms of logistics operations, the services include:
• Services provided by the collection and distribution centre for all types of cargo,
• Services on goods (sorting, palletising, sampling, protection, labelling, weighing, cleaning and other
services), which are regularly improved in line with the development of the transport industry and the
needs of clients,
• Integrated logistics solutions.
The services of individual terminals are supplemented by the companies Luka Koper INPO, d. o. o., Adria-Tow, d.
o. o., Adria Transport, d. o. o., and Avtoservis, d. o. o., which enables a quick response to the customers’ needs.
Luka Koper INPO, d. o. o., performs various services within its three units, service, maritime, and municipal, for the
needs of the parent company and other users. While providing these services, the company ensures the
employment and training of disabled persons.
Adria-Tow, d. o. o., provides ships and craft towing services, ship supply services, and sea rescue and vessel
assistance in the Koper port. The company's fleet consists of five tugs.
Adria Transport, d. o. o., facilitates efficient railway logistics between the Koper port and its hinterland.
Avtoservis, d. o. o., provides full servicing for personal and light commercial vehicles. Their services are available
to vehicle importers and exporters as well as freight forwarders using the port of Koper as a logistic solution.
7.4.3 Hinterland logistics operations in Sežana
Adria Terminali, d. o. o., manages the hinterland logistics terminal in Sežana, focusing on the transhipment and
warehousing of various kinds of goods. The terminal is well-connected to the railway and road infrastructure.
23
GRI 2-6, 413-1
56 Annual report 2023 Presentation of the Luka Koper Group and a description of the business model
7.4.4 Other activities
In addition to the core port activities, the Group's operations include the activities of TOC, tehnološko okoljski in
logistični center, d. o. o., which provides services in technological and ecological research, as well as analytical
laboratory services.
Adria Investicije, d. o. o., (rental and use of real estate on a contractual and real-estate basis) and Logis-Nova, d. o.
o., (an agricultural and real-estate company) operate on a very limited scale.
Business development strategy Annual report 2023 57
8 Business development strategy
24
In 2023, the Luka Koper Group continued to implement activities to achieve the objectives set out in the Strategic
Business Plan 2020-2025.
A new Strategic Business Plan for the period 2024-2028 was adopted in 2023. The document takes into account
trends in the logistics industry, competition analysis, development expectations and the awareness that only those
logistics companies that have a clearly defined sustainable development strategy can expect stable growth in the
long term. Over the next five years, the mission of Luka Koper will continue to be based on providing reliable, high-
quality port services in line with sustainable development guidelines - with the aim of becoming the first choice
among ports on the European southern transport route. Its planned development is based on four starting points:
increasing infrastructure capacity and capability, accelerating the introduction of the smart port concept, ensuring
adequate staffing, and taking care of sustainability aspects and reducing negative impacts on the environment and
society. The multi-purpose port model, which is one of the company's key competitive advantages, continues to be
maintained.
8.1 Mission, vision, values
24
GRI 2-12, 3-3
MISSION
To provide reliable and
high quality port
services, in line with
sustainable
development guidelines.
VISION
To become the first
choice among ports on
the southern European
transport route by
creating added value for
our customers.
LUKA KOPER
EUROPEAN GREEN WINDOW
58 Annual report 2023 Business development strategy
8.2 Strategic objectives
The company's key strategic objectives include an increase in total operating revenue to EUR 413 million and growth
in total throughput by 3.5 percent per annum, with a focus on the container and car segments, which continue to
be the strategic commodity groups of the Port of Koper. Particular attention will be paid to infrastructure
development and capacity building. Activities will focus on obtaining funds for co-financing investment projects with
an emphasis on constructing the infrastructure to supply ships with electricity directly from the shore. The digital
transformation process will continue, aiming at the automation and optimisation of key processes, and further
steps will be taken towards a climate transition. In this context, the company will work to maintain environmental
sustainability standards (EMAS), reduce the carbon footprint and increase energy self-sufficiency through
renewable energy sources.
VALUES
We create value for our customers
We focus on our customers by adapting to their needs and creating
added value.
We appreciate each other
We work together as a team, learning and being there for each other
while solving problems on the way towards our goals.
We take responsibility
We are accountable for our actions and results, and we meet our
commitments to our stakeholders with integrity.
We strive for change and continuous improvement
We learn, improve and prepare for changes, because flexibility is our
competitive advantage. We strive to improve every day – our services,
our company, our community, ourselves.
We act sustainably
We respond boldly to climate change.
Business development strategy Annual report 2023 59
The company has set itself the following objectives by 2028:
8.3 Strategic orientation
• Providing customers with a full range of high quality port services, thereby achieving a comparative
advantage.
• Consolidating its position as the leading container port in the Adriatic and the leading car port in the
Mediterranean.
• Developing a multi-purpose port with a focus on developing higher value-added commodity groups and
faster turnaround, and finding new commodity groups and markets.
• Intensive acceleration of the investment cycle to expand operational quayside and storage capacity and
improve port throughput.
• Increasing operational efficiency and optimising capacity utilisation to improve revenue and cost
effectiveness.
• Moving towards a smart port by digitising the port.
• Keeping pace with changes in the logistics industry by adapting business processes.
• Upgrading staff skills in digital competences, goal and project management and sustainable
development.
• Co-existence with the environment based on sustainable development, ecology and
environmentalism. The Luka Koper Group will use the best available technologies to reduce greenhouse
gas emissions and increase energy efficiency, and will accelerate investments in the use of renewable
energy sources for its own energy supply.
60 Annual report 2023 Economic environment and market position
• The safety and health of employees and other port users is a prerequisite for all activities. Luka Koper
will reduce occupational injuries and health impacts on its employees through continuous
improvements.
• Development of hinterland infrastructure and efforts to acquire available land in the immediate vicinity
(national spatial plan) for the development of activities not related to the concession area.
• Focusing on innovation and networking with development institutions to apply new technologies and
create a comparative advantage.
• Seeking market opportunities for the creation of capital links (acquisitions, mergers) towards vertical or
horizontal integration.
9 Economic environment and market
position
9.1 Analysis of the wider and sectoral environment
Maritime transport is the backbone of global trade, connecting economies around the world. In 2023, it faced a
myriad of global challenges such as geopolitical tensions and uncertainties, trade disputes between major
economies, new regulations, environmental and technological challenges that pose significant obstacles to
maritime transport and related industries such as port operations, logistics, warehousing and land transport.
The resurgence of protectionism and trade tensions between major economies is reshaping global supply chains,
prompting companies to diversify sourcing strategies and explore alternative markets. The importance of using
flexible supply chains and diversifying sourcing strategies, including 'nearshoring' - choosing suppliers closer to
the point of consumption to shorten supply chains and thus minimise risk - is emphasised.
The year 2023 was marked by a cooling global economy and a decline in industrial production and trade, and thus
in the volume of goods transported by sea.
9.2 Characteristics of the economic environment in 2023
The impact of the COVID-19 pandemic on the transport of containers by sea gradually faded in 2023. The situation
in supply chains, especially in ports, eased gradually, but the sector continued to face challenges in early 2023,
such as labour shortages, port congestion and fluctuating demand for goods.
Container freight rates fell drastically at the beginning of the year, dropping back to the levels seen before the
outbreak of the COVID-19 pandemic, due to a marked drop in demand as a result of the widespread high cost of
living, the uncertain situation in many parts of the world and the changed purchasing habits in the aftermath of the
pandemic. Demand for sea freight from overseas markets had cooled considerably due to large inventories of goods
by sellers and manufacturers, built up due to fears of irregular deliveries and delays. The situation was exacerbated
by excess capacity as shipping companies took delivery of new ships ordered during the prosperity period between
2021 and 2022.
In 2023, there were strikes by railway and port workers. The refurbishment of infrastructure, particularly railways,
caused disruptions in land freight transport in many countries.
In 2023, the flow of goods in the global economy was also affected by the continuation of the war in Ukraine, and at
the end of the year, the Israeli military intervention in Gaza, and in December attacks by the Houthis on merchant
ships in the Red Sea, more precisely in the Bab al Mandab strait, which led to the first diversions of shippers from
the Suez Canal route to the route around Africa. In December, we saw an exceptional increase in freight rates due
to the longer route around Africa, the associated higher costs and the temporary shortage of shipping space.
Economic environment and market position Annual report 2023 61
9.2.1 Market position
25
Despite many challenges due to disruptions in global supply chains and increasingly fierce competition from
neighbouring ports, the Port of Koper managed to reach a new milestone in container throughput in 2023,
maintaining its position as the leading container terminal in the Adriatic and its high market shares in key hinterland
markets. Neighbouring competitor ports recorded a decline in throughput in 2023. Several container shipping
companies have introduced additional sea connections between Koper and the Mediterranean ports due to the
growing potential in the Mediterranean for the transport of perishable goods, as well as other goods whose
production is moving back closer to Europe from the Far East due to the lower logistics risk. There is a growing
demand in the market for the transport of various goods in refrigerated containers. Equipping the container
terminal with additional plugs for refrigerated containers has enabled further growth of the throughput of such
containers in the Port of Koper.
Having achieved record vehicle throughput, Luka Koper, d. d., maintained its position as the largest vehicle terminal
in the Mediterranean and consolidated its position among the five largest terminals in Europe. Despite many
challenges, such as the lack of warehouse space in the port, the company provided a good enough service to its
customers to make them shift existing and new business from other European vehicle terminals to Koper,
especially trade flows to the Middle and Far East. Due to the lack of space on ships for transporting vehicles and
the low freight rates in container shipping, there has been an increased interest in transporting cars in containers,
especially electric cars from the Far East.
Due to the reduction in container freight rates in 2023, some types of cargo have returned to containers from
conventional ships, resulting in a decline in general cargo transshipment. However, there was an increase in the
transhipment of project cargoes, primarily destined for the construction of new vehicle and battery factories in the
Central European back markets.
Due to climate change and the resulting changes in the conditions for fruit and vegetable production in the
European Union, as well as poorer harvests, the port has seen in the transhipment of goods unloaded from
refrigerated containers at the port, mainly perishable goods imported from Egypt, from where two new direct
container lines were established in the second half of the year.
Within bulk cargo, the transshipment of soybean meal has decreased, as it is being replaced by cheaper wheat and
maize feed in livestock feed mixtures due to its high price on the back markets. High energy prices, especially for
gas, have led to the closure of aluminium plants in back markets, and the company has abandoned the
transhipment of alumina, the raw material for its production.
In the field of fertiliser throughput, Koper is becoming a distribution hub for many countries in Central and Eastern
Europe. Most European manufacturers have stopped producing artificial fertilisers due to high gas prices, so the
demand for imports from overseas countries remains high. In 2023, the company transhipped more road salt,
chemical industry salt and cereals.
Restrictions and disruptions to rail freight traffic continued due to the reconstruction of sections of the Slovenian
rail network, which, given the high proportion of freight transported to and from the port by rail, significantly limited
the increase in throughput.
25
GRI 2-6
62 Annual report 2023 Performance of the Luka Koper Group in 2023
10 Performance of the Luka Koper Group
in 2023
The operating performance of the Luka Koper Group in 2023 exceeded expectations. New milestones were reached
in transhipment, with records set in several segments.
10.1 Maritime throughput
Record throughput volumes were achieved in 2023 in both strategic commodity groups, containers and cars, as
well as in the passenger terminal, the reefer terminal and the liquid cargo terminal. In the container segment,
1,066,093 container TEUs were handled in 2023, an increase of 5 percent compared to 2022, and 2 percent less than
planned. Car transhipment in 2023 amounted to 916,728 cars (in pieces), 14 percent more than in 2022, and 21
percent more than planned. Luka Koper, d. d., has thus consolidated its position and confirmed its primacy among
ports in the Adriatic (containers) and the Mediterranean (cars). The passenger terminal welcomed 120,553
passengers to the port in 2023, surpassing the 2019 figure of 115,581.
In 2023, the total maritime throughput (in tons) reached 22.3 million tons of goods, which was 4 percent lower than
that achieved in 2022, mainly due to a 15 percent lower throughput of general cargo and a 15 percent lower
throughput of the dry bulk and bulk cargoes commodity group. The total maritime throughput was 5 percent less
than planned.
Maritime throughput
Throughput in metric tons per cargo group in 2023 compared to the 2023 plan and 2022
Commodity groups (in metric
tons)
2022
Plan 2023
2023
Index
2023/Plan
2023
Index
2023/2022
General cargoes
1,311,121
1,379,360
1,109,907
80
85
Containers
9,659,447
10,389,533
9,800,703
94
101
Cars
1,394,106
1,327,485
1,568,617
118
113
Liquid cargoes
4,644,337
4,100,000
4,498,697
110
97
Dry bulk and bulk cargoes
6,239,783
6,137,500
5,289,610
86
85
Total
23,248,795
23,333,878
22,267,534
95
96
Performance of the Luka Koper Group in 2023 Annual report 2023 63
Containers dominate the overall structure of throughput (in tons), accounting for 44 percent in 2023 and increasing
by 2.5 percentage points compared to 2022. The share of the car commodity group increased by 1 percentage point,
while the share of liquid cargo increased by 0.2 percentage points. The share of general cargoes decreased by 0.7
percentage points and the share of dry bulk and bulk cargoes by 3 percentage points.
In the general cargo commodity group, 1.1 million tons of goods were handled in 2023, 20 percent below plan and
15 percent less than in 2022. The reduction in container freight rates had a significant impact on general cargo
flows in 2023, as some goods were re-routed to containers, increasing the volume of container loading and
unloading services. However, imports of goods by conventional ships decreased, especially in the rubber and steel
products commodity groups. Timber exports were higher in the case of timber transhipment.
In the liquid cargo commodity group, 4.5 million tons of goods were handled in 2023, 10 percent above plan and 3
percent below the 2022 level. Growth was recorded in all commodity groups, with diesel and aviation fuel standing
out, which for the first time since the pandemic exceeded the volumes of previous years. The transhipment of
petroleum products in 2023 was slightly lower than the volumes achieved in 2022.
In the dry bulk and bulk cargoes commodity group, 5.3 million tons of goods were handled in 2023, 14 percent
below plan and 15 percent less than in 2022. Transhipment of bulk cargoes in 2023 was shaped by geopolitical
conditions in connection with the prices of energy and energy products and the cancellation of the Italian
government's decree to restart thermal power plants. Fertilisers have seen higher transhipment due to reduced
domestic production and associated higher imports.
Transhipment of containers and cars
Throughput of containers (TEU) and cars (pieces) in 2023 compared to the 2023 plan and 2022
Commodity groups
2022
Plan 2023
2023
Index
2023/Plan
2023
Index
2023/2022
Containers – TEU
1,017,808
1,089,010
1,066,093
98
105
Cars – pieces
801,036
760,000
916,728
121
114
At the end of 2023, a new annual historical record in container throughput was achieved at the container terminal
with 1,066,093 transhipped container units (TEUs). Container handling was slightly lower than planned and by 5
percent higher than in 2022.
The container terminal continued to experience ship delays and arrivals outside the agreed 'time windows' in 2023,
but to a lesser extent than the previous year, with a positive impact on occupancy and consequently improved
productivity in all operational segments of the terminal. The terminal's responsiveness to these circumstances has
helped to further establish the Port of Koper as an increasingly important entry point for cargo from Asia, especially
for the rapidly developing economies of Central Europe.
64 Annual report 2023 Performance of the Luka Koper Group in 2023
The car terminal also achieved a new annual throughput record in 2023, with 916,728 vehicles transhipped, which
is 21 percent above plan and 14 percent more than in 2022. Transhipment increased both in exports, mainly to the
Middle and Far East, and in imports, in which the share of electric vehicles, the majority of Chinese production, is
increasing significantly. The increase in throughput is the result of the redirection of commodity flows, which the
car terminal has successfully realised with reliable services and capacities built up in recent years.
The passenger terminal reached a new milestone in 2023 after a reduced volume due to the pandemic, as it
recorded 78 passenger ship arrivals with a total of 120,538 passengers.
10.1.1 Comparative analysis with the competition
Of the ports in the Northern Adriatic, the growth in container throughput in 2023 compared to 2022 was achieved
by Luka Koper d. d., and the Port of Rijeka. The Port of Trieste maintained its 2022 level of throughput, while Venice
achieved an 8 percent decrease in 2023 compared to 2022. The absolute highest throughput and also highest growth
was achieved by Luka Koper, d. d., with 1,066,093 TEUs, up 5 percent compared to the previous year. In 2023, the
three Northern European ports of Rotterdam, Hamburg and Antwerp-Bruges all recorded a 7 percent drop in
container throughput compared to 2022.
Throughput of containers in Northern Adriatic ports in TEU
26
Throughput of containers in three major Northern European ports, in TEU
27
26
Source: Websites of the ports in question, and NAPA
27
Source: Websites of the ports in question, and NAPA
Performance of the Luka Koper Group in 2023 Annual report 2023 65
In 2023, all three Mediterranean ports achieved growth in car throughput compared to 2022. The highest growth
was recorded by the port of Barcelona, i.e. 22 percent, Luka Koper, d. d., achieved a 14 percent increase in car
throughput, and the port of Valencia a 7 percent increase. In absolute terms, Luka Koper, d. d., handled the most
cars in 2023, with 916,728 vehicles.
Throughput of cars in three major ports in the Mediterranean
66 Annual report 2023 Performance of the Luka Koper Group in 2023
10.2 Financial analysis of the performance of the Luka Koper Group
Net sales in 2023 amounted to EUR 312.8 million, which was on a par with the level of revenue achieved in 2022.
Within net sales, revenue increased by EUR 20 million due to greater container and car transhipment, greater
volume of loading and unloading of containers, greater volume of other additional services on goods and higher
service prices. Compared to the previous year, due to the normalisation of the situation on the global logistics
market and the shortening of the storage time of containers in the storage facility, revenues from storage fees
decreased by EUR 21 million.
Net sales
In 2023, earnings before interest and taxes (EBIT) amounted to EUR 60.9 million, which was a decrease of 27 percent
or EUR 22.2 million when compared to 2022. The main contributor to the lower earnings before interest and taxes
(EBIT) in 2023 was lower storage fees, while higher operating costs of EUR 23.3 million, which were due to
inflationary pressures and higher number of employees and agency workers, were mostly offset by the Luka Koper
Group with revenues from other services.
Earnings before interest and taxes (EBIT) of Luka Koper, d. d., and the Luka Koper Group
Operating costs in 2023 amount to EUR 258 million, an increase of 10 percent or EUR 23.3 million compared to
2022. All types of costs increased except for material costs, which decreased by 3 percent or EUR 0.8 million
compared to 2022, due to lower costs of spare parts and lower energy costs resulting from lower consumption and
lower average fuel prices. The cost of services increased by 15 percent or EUR 10.5 million. Within the cost of
services, the cost of port services increased by EUR 4.7 million because of higher business volumes, mainly due to
increased car throughput and higher staff costs through agency companies. Higher volume of maintenance work
and higher prices resulted in an increase of EUR 3.9 million in maintenance service costs. Labour costs increased
by 9 percent or EUR 8.6 million due to higher staff numbers, higher merit payments and the adjustment of salaries
to inflation; depreciation and amortisation costs are higher due to new asset acquisitions, while other operating
expenses are higher than the previous year mainly due to the establishment of long-term provisions related to
lawsuits.
Performance of the Luka Koper Group in 2023 Annual report 2023 67
Operating expenses as a percentage of net sales in 2023 amounted to 82.5 percent, up 7.6 percentage points from
74.9 percent in 2022, mainly due to higher operating expenses as a result of inflationary trends. Comparatively, the
share of cost of services, labour costs and other operating expenses in net sales increased from 2022 due to a
different income structure, whereas the shares of the costs of materials and other amortisation and depreciation
expenses remained unchanged. Excluding the one-off impact of higher revenues from storage fees in 2022 which
were the result of unique global market conditions and the increased dwell time of goods in warehouses, the share
of operating expenses in net sales in 2022 would be 89.8 percent, 7.4 percentage points higher than in 2023. In this
case, the share of all types of costs would decrease in 2023, with the exception of other operating expenses, which
would remain at the same level.
Net profit or loss of Luka Koper, d. d., and the Luka Koper Group
In 2023, net profit or loss amounted to EUR 56.4 million, which was a decrease of 24 percent or EUR 17.7 million
when compared to the net profit in 2022. The net profit was positively impacted by the operating result from
financing in the amount of EUR 4.7 million, an increase of 51 percent or EUR 1.6 million compared to the previous
year. The Group also generates finance income in the financial markets through interest on funds placed in short-
term bank deposits and treasury bills. The results of associates in 2023 amounted to EUR 1.8 million, an increase
of 3 percent or EUR 46.1 thousand compared to 2022.
The balance sheet total of the Luka Koper Group as at 31 December 2023 amounted to EUR 774.2 million, an
increase of 10 percent or EUR 73.1 million compared to 31 December 2022.
Asset structure of Luka Koper, d. d., and the Luka Koper Group as at 31 December
Non-current assets increased by EUR 14.4 million. The value of property, plant and equipment and other finance
investments increased. Current assets increased by EUR 58.6 million due to the placement of cash in short-term
bank deposits (amounting to EUR 30 million at 31 December 2023) and in treasury bills (other finance investments
amounting to EUR 39.5 million at 31 December 2023). As a result, the value of cash and cash equivalents decreased.
68 Annual report 2023 Performance of the Luka Koper Group in 2023
Structure of liabilities of Luka Koper, d. d., and the Luka Koper Group as at 31 December
The equity of the Luka Koper Group increased by EUR 27.3 million in 2023, which was the net effect of the increase
in equity due to the introduction of the net profit for the period of EUR 29.2 million, the increase in the revenue
reserves of EUR 27.2 million, the increase in the retained earnings on the disposal of an investment valued through
equity in the amount of EUR 2.1 million, and a positive change in the revaluation surplus on investments of EUR 3.8
million and its reduction due to the payment of dividends by the controlling company in the amount of EUR 35 million
according to the decision of the Company's General Meeting. The non-current liabilities of the Luka Koper Group,
including long-term provisions and long-term accrued costs and deferred revenue, were EUR 46.1 million higher
at 31 December 2023 than at 31 December 2022, as non-current financial liabilities increased by EUR 39.7 million
due to the net effect of the realised drawdown under the controlling company's long-term credit agreement of EUR
60 million and the regular transfer of the principal amounts from the contractually agreed amortisation plans to
current liabilities. Deferred income increased by EUR 2.6 million and provisions by the same amount. As at 31
December 2023, current liabilities of the Luka Koper Group were lower by EUR 0.3 million than the previous year-
end. The increase in financial liabilities of EUR 6.9 million is due to the aforementioned drawdown of the new loan,
while the increase in trade and other payables of EUR 2.7 million mainly relates to payables to suppliers. The Luka
Koper Group had no recognised income tax liabilities as at 31 December 2023, whereas at the previous year-end
they amounted to EUR 9.9 million.
As at 31 December 2023, the financial liabilities of the Luka Koper Group amounted to EUR 110 million, and grew
EUR 46.3 million from the previous year-end. The increase is due to the net effect of an increase in loan
commitments due to the drawdown of a previously granted loan and the regular repayment of principal under
contractually agreed amortisation plans.
The liquidity position of the Luka Koper Group is very good, as demonstrated by the cash and cash equivalents
balance of EUR 81.6 million as at 31 December 2023, as well as the short-term deposits of EUR 30 million and other
finance investments of EUR 39.5 million, which include treasury bills into which the controlling company has placed
part of its liquidity surpluses.
As at 31 December 2023, the net financial debt/EBITDA ratio was 0.3. The Luka Koper Group also had EUR 69.5
million of surplus cash placed in short-term deposits and other finance investments, which are not included in the
calculation of net financial debt. If at the end of 2023, the Luka Koper Group had no such placements of surplus
cash, but instead only in the form of cash and cash equivalents, it would still show a negative value of the net
financial debt/EBITDA indicator, as its value would be -0.4.
Comparison of the results achieved by the Luka Koper Group in 2023 in relation to the plan
In 2023, the Luka Koper Group exceeded its planned financial indicators. Net sales revenues were higher than
planned by 8 percent, or by EUR 22.7 million. The main contributor to the higher net sales was storage fee income,
which exceeded the planned figure by EUR 19 million, as the business plan had foreseen a reduction in the dwell
time of containers due to the calming market conditions. Earnings before interest and taxes (EBIT) were higher
than planned by 76 percent, or by EUR 26.4 million. In addition to the higher net sales revenue, the higher earnings
before interest and taxes (EBIT) were positively impacted by lower material, labour and depreciation costs, while
the higher cost of services was due to an increase in the cost of port services linked to the higher throughput on
Investments in non-financial assets Annual report 2023 69
the car commodity group and the cost of labour placement agencies. In 2023, net profit or loss of the Luka Koper
Group amounted to EUR 56.4 million, which was an increase of 75 percent or EUR 24.1 million when compared to
the plan.
According to the plan, the throughput of the cars commodity group (in pieces) was higher by 21 percent, while the
throughput of the of containers commodity group (in TEUs) lagged behind the plan by two percent. The total
maritime throughput, measured in tons, was 5 percent less than the planned quantities.
11 Investments in non-financial assets
28
In 2023, Luka Koper Group continued the development cycle of its two most important strategic commodity groups,
making the most significant investments in the container terminal and the car terminal. In 2023, the Luka Koper
Group allocated EUR 41.5 million to investments in property, plant and equipment, investment property and
intangible fixed assets,
29
which is 18 percent or EUR 9.2 million less than in 2022. Luka Koper, d. d., allocated the
amount of EUR 41.3 million to investments in 2023, which accounted for 99.3 percent of investments of the Luka
Koper Group.
Investments in property, plant and equipment, investment property and intangible assets of Luka Koper, d. d., and the
Luka Koper Group
Several major investments were concluded:
• Construction of a new external truck terminal at the Sermin entrance,
• Development of storage areas in the area of the 5A cassette,
• Installation of new plugs for reefer containers,
• Modernisation of the cooling and fire extinguishing system on methanol tanks,
• Construction of a transformer station to power the new enclosed passages,
Other major investments in 2023:
• Continued transfer of storage blocks at the container terminal,
• Continued upgrade of the dry bulk cargoes terminal in accordance with the ATEX directive,
• Purchase of 8 terminal tractors with trailers for the needs of the container terminal,
• Purchase of 9 new 8 ton forklifts for the general cargo terminal,
• Purchase of an industrial excavator for the needs of the dry bulk cargoes terminal.
28
GRI 203-1
29
Without taking into account advances paid for the equipment
70 Annual report 2023 Investments in non-financial assets
Among the most important investment projects underway in late 2023 were the construction of the 12th berth and
the installation of solar power plants, the execution of a public contract for warehouse No 54 and the preparation
of documentation and obtaining the relevant permits for the extension of the northern part of Pier I and the
development of other areas for the container terminal.
The lower than planned investment expenditure of the Luka Koper Group in 2023 was due to the repetition of
procurement procedures as bids exceeded the funds provided or no bids were awarded. The overruns necessitated
changes to the port development programme and new consents for infrastructure programmes. Delays in
investment implementation were also caused by high occupancy of infrastructure and equipment due to high
throughput, which resulted in lower availability for the implementation of investment interventions.
All investments foreseen for the year 2023 were studied from the economic aspect, the aspect of eligibility, energy
savings, urgency and from the aspect of legal obligations or other impacts. The decisions on major investments
were taken on the basis of the prepared investment studies and conducted analyses of their impact on return on
equity.
Environmentally sustainable investments
In 2023, the Luka Koper Group earmarked EUR 4.8 million, or 11.5 percent of the total investment value, for
environmentally sustainable investments, i.e. current environmental, energy, and occupational safety challenges.
The following investments were made in the area of environment, energy and occupational safety:
− Upgrade of the dry bulk cargoes terminal in accordance with the ATEX directive - to prevent spontaneous
combustion or explosion, ATEX-compliant non-sparking tools and work accessories must be procured in
order to maintain the system (equipment for use in potentially explosive atmospheres);
− Upgrade of the cooling and extinguishing system on the methanol tanks - the system posed a risk of
environmental contamination due to its deterioration, and a reliable fire-fighting system for extinguishing
and cooling the tanks had to be provided;
− Construction of a solar power plant on the roof of the general cargo storage facility in order to increase
the share of electricity self-sufficiency of the Port of Koper, thus contributing to the targets of the Republic
of Slovenia and the European Union for the reduction of CO
2
emissions;
− Preliminary archaeological surveys for seabed dredging and relocation of marine sediments dredged as
a result of the investment operations and maintenance of the appropriate depths in such a way that there
is no burden on the environment, cultural heritage and nature;
− Energy renovation of the lighting at the container terminal to reduce the electricity consumption of the
renovated lighting by 30 to 40 percent.
European projects Annual report 2023 71
12 European projects
In 2023, Luka Koper d. d., implemented projects under the Connecting Europe Facility (CEF), Horizon 2020, Horizon
Europe, Territorial Cooperation (Interreg), the European Economic Area Financial Mechanism and the Recovery
and Resilience Plan.
Two projects were successfully completed, namely the 5G-LOGINNOV project (Horizon 2020 programme) and the
EALING project (CEF programme). In 2023, the company received a total of EUR 2.9 million inflows for ongoing
projects from co-financing.
Also, activities continued under the Financial Perspective that started in 2022. In this context, an additional EUR
600,000 has been secured this year from various programmes, to be drawn down over the next three years.
In line with the Company's policy on sustainable development in the port area and taking into account the port's
infrastructure needs, the Company has secured funding from the CEF, Interreg, Horizon 2020/Horizon Europe, the
Recovery and Resilience Plan and the European Economic Area Financial Mechanism for ongoing projects, namely:
• ACCESS2KOPERPORT (CEF) project for the construction of a new berth, i.e. 12th berth in Basin II, with
co-financing of up to EUR 16 million;
• ERIK-PARKING (CEF) project for the construction of a new safe and secure car park for freight vehicles,
with an estimated co-financing of up to EUR 4.9 million,
• ACCESSMILE project (Interreg Central Europe) for the procurement and installation of an OCR system
for reading container tags and licence plates of container transport trucks for an amount of EUR 0.3
million;
• SOPOREM project (European Economic Area Financial Mechanism) for the installation of a larger solar
power plant with a capacity of 3.3 MWp in the port at warehouses 50 and 51, with co-financing of EUR
1.3 million;
• Luka.DT project - Digital transformation of processes at the Port of Koper, in which Luka Koper d. d., is
the recipient of new IT solutions worth approximately EUR 2 million, of which EUR 0.4 million is
earmarked for Luka Koper's own activities;
• ATLANTIS project (Critical Infrastructure Security) and NEPHELE project (Container Delivery
Optimisation Solutions), where the company will be able to draw up to EUR 0.4 million.
72 Annual report 2023 A look ahead
In 2024, the company will start implementing the activities of the RENEWPORT project for co-financing the
purchase and installation of a solar power plant on the administrative building of the container terminal for an
amount of EUR 0.2 million, and the 5G-SITACOR project for developing a plan for the deployment of its own 5G
network in the port.
For two projects submitted to the Interreg ADRION call for proposals - ADRIREC and SUPER-ALFUEL - the results
of the evaluation and the decision on co-financing are not yet known or are expected to be known by the end of
February 2024. Also, the results of the 4 projects submitted to the Modernisation Fund call for proposals and the
GrEn4Tran project submitted to the CEF AFIF call for proposals are also not yet known.
13 A look ahead
13.1 Forecasts of the economic environment in 2024
In a forecast published in January 2024, the IMF
30
projects global GDP growth in 2024 to remain at the same level
as in 2023, which means 3.1 percent, rising to 3.2 percent in 2025. The forecast for 2024 is 0.2 percentage point
higher than the October 2023 forecast due to stronger resilience in the United States and emerging and developing
markets, and fiscal support in China. The growth forecast for the period 2024-2025 is, on average, 3.8 percentage
points below the average for the period 2000-2019. Inflation is falling faster than expected in most regions, driven
by supply growth and tight monetary policy. The global inflation rate is projected to fall from 6.8 percent in 2023 to
5.8 percent in 2024 and to 4.4 percent in 2025, a 0.2 percentage point decrease compared to the October 2023
forecast.
The estimated GDP growth rate for the euro area is 0.5 percent in 2023 and is projected to rise to 0.9 percent in
2024 and 1.7 percent in 2025. In China, the GDP growth rate is expected to fall from 5.2 percent in 2023 to 4.6
percent in 2024, before declining to 4.1 percent in 2025.
Towards the end of 2023, the volume of world trade declined sharply, mainly at the expense of decrease in the EU
and the US. According to S&P Global, growth in total world trade volume is expected to be negative in 2023 (-1.7
percent). In 2023, a significant decline was recorded in maritime container traffic (-4.7%). In 2024, the volume of
maritime container traffic is expected to grow by 2.1 percent. In the long term, growth in the volume of total world
trade is estimated at between 1.8 percent and 3.0 percent. The main uncertainties for the forecast are:
• Geopolitical tensions, especially in the Middle East;
• Tightened financial conditions (high interest rates);
• Food supply shocks;
• Tightening environmental requirements (European Emissions Trading Scheme, European Union Border
Carbon Mechanism);
• Weaknesses in banking systems and high inflation, which could lead to wider financial instability.
The outlook for the second most important commodity group, i. e. cars, is also encouraging, with the EIU
31
forecasting a 3-percent growth in global passenger car sales in 2024.
IMAD
32
forecast GDP growth of 2.8 percent and investment growth of 5.5 percent for Slovenia in 2024. Inflation is
expected to fall to just above 3 percent by the end of 2024.
13.2 Performance of the Luka Koper Group in 2024
In 2024, the transhipment of the strategic commodity group containers is planned in the amount of 1,093 thousand
TEU, which is 3 percent more than in 2023, while at the same time the transhipment of the strategic commodity
30
Source: IMF – International Monetary Fund (World Economic Outlook, January 2024) World Economic Outlook Update, January
2024:Moderating Inflation and Steady Growth Open Path to Soft Landing (imf.org)
31
EIU - Automotive Industry outlook 2024
32
IMAD – Institute of Macroeconomic Analysis and Development of Slovenia (Autumn Forecast of Economic Trends, September
2023)
A look ahead Annual report 2023 73
group cars is planned to be 2 percent lower, which means 895 thousand vehicles. The total throughput (in tons) is
projected to increase by 1 percent to 22.6 million tons in 2024 compared to 2023.
In 2024, Luka Koper, d. d., plans net sales revenues of EUR 320.9 million, while the Luka Koper Group plans net
sales revenues of EUR 324.5 million, representing a 4 percent growth compared to 2023. The higher net sales
revenue will be driven by projected growth in cargo throughput and sales prices.
Luka Koper, d. d., and the Luka Koper Group are expected to achieve 17 percent lower earnings before interest and
taxes (EBIT) in 2024, despite higher projected net sales revenues, due to higher operating costs, which will continue
to be affected by inflation. Labour costs will also be affected by additional recruitments in 2023 and 2024. The
planned net operating result of Luka Koper, d. d., and the Luka Koper Group in 2024 is 15 percent lower than that
achieved in 2023.
The investment plan of Luka Koper, d. d., and the Luka Koper Group for 2024 is in line with the objectives set out in
the Strategic Business Plan. Key investment projects in 2024 will be related to continued activities to increase the
capacity of the container terminal, construction of additional open-air storage areas for car handling, increasing
storage capacity for general cargo handling, construction of a new passenger terminal, construction of solar power
plants on roofs of the existing storage facilities, construction of a fire station, and purchase of equipment. In 2024,
the Luka Koper Group will allocate EUR 21 million for sustainable development and social responsibility projects,
which is 32 percent of all planned investments.
Until the construction of Track 2, the situation on the Slovenian railway network and maintenance works will affect
the operations of the Luka Koper Group as it poses an obstacle to further growth and causes the loss of part of the
business that the company already had in the past. The Group has prepared the 2024 plan on the assumption that
the war in the Middle East will not be protracted and will not affect the reduction of the volume of business.
74 Annual report 2023 A look ahead
Key operating ratios of Luka Koper, d. d., and the Luka Koper Group in 2024
Luka Koper, d. d.
Luka Koper Group
Items
2023
Plan 2024
Index
2023/
Plan 2024
2023
Plan 2024
Index
2023/
Plan 2024
Net sales (in EUR)
309,284,223
320,850,930
104
312,772,489
324,524,911
104
Earnings before interest and taxes
(EBIT) (in EUR)
59,233,239
48,872,228
83
60,912,423
50,349,756
83
Earnings before interest, taxes,
depreciation and amortisation (EBITDA)
(in EUR)
91,496,341
80,969,188
88
93,731,962
83,726,233
89
Net profit or loss (in EUR)
54,450,022
46,551,351
85
56,445,369
48,042,914
85
Added value (in EUR)
193,214,462
203,478,682
105
203,608,146
215,208,187
106
Capital expenditure (in EUR)
41,259,790
66,577,466
161
41,543,822
71,588,933
172
Maritime throughput (in tons)
22,267,534
22,559,000
101
22,267,534
22,559,000
101
Number of employees
1,757
2,141
122
1,922
2,310
120
Indicators
2023
Plan 2024
Index
2023/
Plan 2024
2023
Plan 2024
Index
2023/
Plan 2024
Return on sales (ROS)
19.2%
15.2%
79
19.5%
15.5%
79
Return on equity (ROE)
11.0%
9.2%
84
10.7%
8.9%
83
Return on assets (ROA)
7.8%
6.2%
79
7.7%
6.2%
81
EBITDA margin
29.6%
25.2%
85
30.0%
25.8%
86
EBITDA margin from market activity
30.4%
26.2%
86
30.8%
26.8%
87
Financial liabilities/equity
21.8%
22.3%
102
20.3%
17.2%
85
Net financial debt/EBITDA
0.6
1.1
183
0.3
0.8
267
Items
31.12.2023
Plan 31 Dec
2024
Index
2023/
Plan 2024
31.12.2023
Plan 31 Dec
2024
Index
2023/
Plan 2024
Assets (in EUR)
733,439,080
751,651,839
102
774,226,552
772,734,726
100
Equity (in EUR)
505,347,400
513,941,332
102
543,052,948
552,992,476
102
Financial liabilities (in EUR)
110,134,003
114,847,642
104
110,018,551
94,926,716
86
Managing risks and opportunities Annual report 2023 75
14 Managing risks and opportunities
33
Risk and opportunity management is an important element of the Luka Koper Group's strategy and business
performance. The Group uses an advance risk and opportunity management system, which ensures that the key
risks and opportunities the Group is exposed to are identified, evaluated, controlled, monitored and duly reported.
Although a Risk and Opportunity Management Committee has been appointed, risk and opportunity management
is a concern of every employee of the Group within the scope of their duties and responsibilities. Risks and
opportunities are recognised 'bottom up', ensuring that all business processes are covered, while the methodology
is defined 'top-down', providing for a consistent application of the risk and opportunity management system across
the entire Group. In the Luka Koper Group, the risk and opportunity management system is continuously being
improved, also by upgrading the inventory of internal controls for individual processes.
The basis of the risk and opportunity management system is the risk and opportunity register, which contains a list
of all identified risks and opportunities, characteristics of particular risks and opportunities, identified measures
and control activities, and persons responsible (administrators) for monitoring individual risks and opportunities.
The register is kept centrally at the level of the Luka Koper Group in order to systematically monitor and analyse
risks, and is updated quarterly. A five-level methodology was worked out for the assessment of both risk and
opportunity likelihood and the related consequences. Five dimensions are taken into account in the assessment of
consequences, including consequences for health and safety, finances, the environment, the Company’s reputation,
and compliance. The joint risk and opportunity assessment is the product of the assessment of likelihood and
highest possible assessment of consequences. Based on the joint risk and opportunity assessment, all risks and
opportunities identified in the register are classified from irrelevant to material according to a five-level scale. The
quantitative assessment system ensures that the focus is on the management of key risks and opportunities
(overall assessment 10 or above).
Quantitative Risk and Opportunity Assessment Matrix
Probability
Very high (5)
5
10
15
20
25
High (4)
4
8
12
16
20
Medium (3)
3
6
9
12
15
Low (2)
2
4
6
8
10
Very Low (1)
1
2
3
4
5
Very Low
(1)
Low (2)
Medium (3)
High (4)
Very high (5)
Consequence
irrelevant risk (overall risk assessment = 1–2)
less important risk (overall
risk assessment = 3–4)
moderate risk (overall
risk assessment = 5–9)
important risk (overall
risk assessment = 10–16)
material risk (overall risk assessment = 20–25)
In the context of the risk and opportunity management system, the Luka Koper Group regularly monitors exposure
to all the perceived and potential new risks and opportunities, and determines and implements the measures to
ensure an acceptable level of operational risk and opportunities.
The company has adopted a Risk Appetite Statement. The risk appetite of the Luka Koper Group means the total
level of risks that the Luka Koper Group is willing to assume within its risk-taking capacity in order to achieve its
strategic goals and fulfil its business plan. In order to take advantage of the opportunities to achieve its strategic
goals while following the highest standards of sustainable development in making current business decisions and
running day-to-day operations, the Luka Koper Group is ready to accept risks that are assessed as moderate at
best after taking appropriate measures, however:
33
GRI 2-16, 2-23, 2-25
76 Annual report 2023 Managing risks and opportunities
• It is not willing to take risks that could result in serious and fatal injuries to persons and/or high negative
impacts on the environment and property;
• It is not willing to take risks arising from breaches of international regulations, national legislation,
standards and internal regulations, with an emphasis on compliance with legislation and regulations on
security, personal data protection, environmental protection, occupational safety and the prevention of
corruption. The operations of the Luka Koper Group are based on the values and principles that oblige us
to respect ethical and professional standards.
• It has a low appetite for financial risks associated with long-term financial stability and for unexpected
negative effects stemming from changed market interest rates. The Group must maintain an appropriate
level of liquidity and solvency in order to meet its obligations and meet its commitments to banks.
According to the internal documents of the management system, the unwillingness to assume these three types of
risks is demonstrated by assessing the probability as 'very rare' and 'rare'. The Risk and Opportunity Management
Committee, the Risk and Opportunities Management Officer, the Internal Audit Department, the Compliance Officer,
the Corporate Integrity Officer and other competent departments regularly monitor the compliance of the risk
profile with risk appetite and keep the Management Board, the Audit Committee and the Supervisory Board
informed through reviews and reports. If the risk appetite is found to be exceeded, proposals for measures to revert
the operations to an acceptable level of risk shall be prepared.
14.1 Key roles and responsibilities in the risk and opportunity management
system
34
The key roles and responsibilities in the risk and opportunity management system have not changed in relation to
the preceding year. Risk managers assess risk and opportunities on a quarterly basis and monitor the effects of
risk reduction methods. Risk analysis and evaluation by the Risk Manager is carried out whenever risk measures
are implemented and when significant changes in the external and internal environment are detected. Based on
their findings, the Risk Management Officer reports to the Risk Management Committee, which meets quarterly,
and additionally if necessary. The Risk Management Officer and the members of the Committee shall be appointed
by the Management Board of Luka Koper, d. d. Risks are reported quarterly to the Management Board and the Audit
Committee of the Supervisory Board.
34
GRI 2-13, 2-16
Managing risks and opportunities Annual report 2023 77
14.2 General risk assessment
The average assessment of residual risk after the measures taken was 7.0 (moderate risk) at 31 December 2023.
Risks with the highest risk scores arise from the external environment The company cannot fully manage these
risks with various response methods, however, with the measures taken on the expenditure and revenue side, it
reduces the probability and consequences of materialisation.
Risks identified at the first level fall into four main groups. At the second level these are divided into individual
topic-related sub-groups. Despite the implemented measures, four risks remain identified as material. The
average assessment of residual risk is the highest in the case of strategic risks (9.4) because there are certain risks
that the Company cannot manage alone with its measures as they originate in external factors (e.g. deterioration
of the economic situation, government-owned infrastructure, shipowners and logistics operators entering the
ownership of terminals in nearby ports). Operational risks with the average score of 6.3 are the largest group in
terms of number, including a wide and diversified range of risks (e.g. safety at work, damage to cargo and
equipment, information risk). Compliance risks have an average residual risk score of 7.6, representing a smaller
set of risks, mainly related to environmental and labour legislation. Financial risks are currently evaluated as
posing the smallest threat (4.0), as the company has low indebtedness, a small share of defaulters, secured
receivables, and low exposure to foreign currencies. The Luka Koper Group also includes environmental, social
and governance aspects (ESG) in its risk register. Due to the nature of its business, the largest number of identified
risks are related to environmental aspects. Key risks, assessed according to the residual risk, and the methods of
their management are presented in more detail below.
Risk chart of the Luka Koper Group based on the residual risk assessment
14.2.1 Strategic risks
According to their content, strategic risks are of the type that can jeopardize the achievement of set goals. Strategic
risks result from the mutual incompatibility of strategic objectives, the business strategy adopted to reach them,
the availability of funds for reaching the set objectives, the ownership structure, and the general economic situation.
Strategic risks include the risks of loss of throughput and reduction of revenue due to macroeconomic and
geopolitical conditions. The macroeconomic and geopolitical conditions are reported in more detail in Section 13.1
‘Forecasts of the economic environment in 2024’.
The impact of the conflict in Israel and Gaza on global supply chains will depend mainly on the escalation and
duration of the conflict. Israel is most involved in the electronics (semiconductors), healthcare and defence supply
chains. For the Port of Koper, the greatest danger would be the extension of the conflict to Egypt and a possible
prolonged blockade of the Suez Canal, which would jeopardize the entire transhipment on the Koper-Far East route,
especially the container terminal, the car and Ro-Ro terminal, and the general cargo terminal. The situation in
logistics and supply chains in 2024 has been further worsened with the start of the Red Sea attacks, affecting all
stakeholders in logistics and the final customers of goods in industrial production who depend on maritime
transport through the Suez Canal. Customers from Austria, Czechia and other Central European markets could be
Strategic
risks (n=44)
Operational
risks (n=111)
Financial
risks (n=11)
Compliance
risks(n=38)
0
1
2
3
4
5
0 1 2 3 4 5
Average consequence score
Average probability score
78 Annual report 2023 Managing risks and opportunities
diverted to Northern European ports in the event of a prolonged conflict. Due to the diversion of ships around Africa,
some shipping services from the Far East experienced delays in the arrival of ships due to a longer transit time -
on average by 10 to 14 days - and the delay also indirectly affects ships that transport cargo in the Mediterranean
via transhipment ports.
The Russia-Ukraine conflict has no significant impact on the Company's strategic orientations and objectives. Due
to the small scale of operations in the affected region and the consequent low exposure to it, the aggravating
circumstances do not have a material impact on the Group’s operating result. There has been no impact on the
employees of the Luka Koper Group as the Group has no representatives in the affected regions.
The Group also faces market risks arising from a highly competitive environment and the entry of shipowners and
logistics operators into the ownership of nearby port terminals, which may lead to a redirection of part of the cargo
to be transhipped. Neighbouring ports also pay considerable attention to boosting competitiveness in rail
connections. In recent years, warehousing capacities have been developed in the vicinity of the Port of Koper, in
which mainly freight forwarding companies offer CFS services. These can turn out to be the Port’s competitors,
especially in the segment of loading and unloading containers. On 7 January 2021, Hafen und Logistik AG (HHLA)
finalised the process of purchasing a 50.01-percent share in Piattaforma Logistica Trieste in the Port of Trieste.
The transhipment activity in the general cargoes, Ro-Ro and container segment will be performed by HHLA PLT
Italy. The Management Board of the Port of Rijeka Authority has decided that for the next 50 years, APM
Terminals/Enna Logic, owned by the shipping company AP Moller – Maersk, will be the concessionaire of the
container terminal. These risks are managed by increasing capacities, constructing the second railway track, and
implementing envisaged process improvements through various projects. In 2024, investment projects will
continue to be implemented, aimed primarily at increasing the capacity of the container terminal, the car terminal
and the general cargo terminal. Nevertheless, the major risk associated with the realisation of investments
remains, as an intense investment cycle is planned in the coming period. In this regard, the emphasis will have to
be on obtaining approvals in due course for the next set of strategic investments. The risk of delays is also posed
by the repetition of procurement procedures arising from overruns in the value of the funds secured due to the rise
in the prices of certain raw materials. The identified strategic risks include the risk of not achieving the digital
transformation objectives. The risk of timely delivery of investment and other projects is managed through project
management and a new Project Office unit established at the end of 2023, as well as continuous training of staff in
various fields.
The main strategic risks stemming from the external environment remain the obsolescence and insufficient
capacity of the existing railway network and the possibility of prolonged disruptions on the railway track to the Port
of Koper, which could affect further growth in transhipment and the development of the Port of Koper. The
construction of the second Divača-Koper railway track will contribute to increasing the capacity and reliability of
the rail link to the port, which can only be fully exploited if the railway junction in front of the Port of Koper is
upgraded at the same time. In 2024, the working group that took on the implementation of measures of the
Transcare study to improve IT support, and perform infrastructure interventions and organisational changes, will
continue to work. The share of transhipments leaving the port by road has been increasing since 2018.
The company recognises climate risks, which include the impacts of the company's activities on climate change
and the impacts of external climate change on the company's business, which can have a significant impact on the
company's financial performance. The highest assessed risks are the transition risk, i.e. the risk of tightening
environmental policy requirements at EU and Slovenian level, and the physical climate risk, i.e. the risk of storms
and extreme weather events, as their frequency and intensity have been increasing. At the end of 2023, the company
adopted the 2024-2028 Strategic Business Plan, setting out its strategic objectives for the green transition and all
the key projects to be implemented during this period. Projects are integrated annually into business plans, with
business improvement programmes planned in line with the internal documents of the management system.
Adapting to the requirements of the EU environmental policy may place additional financial burdens on the
Company related to investments in the replacement of equipment and the construction of additional infrastructure.
In July 2023, strong winds and rain caused some emergencies in the port. No one was injured during these
occurrences. In August 2023, despite the precautions taken, a serious work-related injury occurred during a storm
recovery operation (roof removal), when a firefighter was struck by lightning. Additional recommendations from
the Maritime Administration are also being taken into account and a set of additional risk management measures
is being developed in cooperation with external institutions. Financial impacts and other risks and opportunities for
the Company's activities related to climate change are mostly recognised as strategic risks and are presented
separately in the sustainability report in the Chapter 19.8.7 ‘Climate change and opportunities’.
Managing risks and opportunities Annual report 2023 79
14.2.2 Operational risks
Operational risks cover a wide range of the company's operations. A large portion of this comprises risks, the
realisation of which is reflected in injuries to people and/or impacts on the environment and property.
Risks related to occupational safety are managed by preventive measures based on workplace risk assessment,
training and verification of knowledge, consistent use of personal protective equipment, defined and communicated
technological procedures and working instructions that are regularly updated, development of suppliers, continual
measurements of workplace conditions, and regular medical examinations. Other measures reducing risks of
damage or injury include new investments in modern equipment, regular maintenance of work equipment and
infrastructure, and regular measurements of impacts on the environment. Any negative impacts arising from an
industrial accident are managed through periodic fire risk assessments, the implementation of recommendations
resulting from external and internal inspections and the establishment of its own fire department. The financial
consequences of potential events are mitigated by appropriate insurance policies. The plan for 2024 contains an
upgrade the information system for recording and handling extraordinary events in the port, which will enable
further processing of events by subject-specific experts, event research, taking action, statistical processing and
systematic monitoring of indicators.
Purchase risks related to changes in the prices of key purchasing materials are managed by electricity futures
leases, by determining fixed purchase prices for the duration of the contract, harmonising sales prices with the
inflation rate, implementing measures to increase the efficient use of energy and systematically increasing own
electricity production through solar power plants on buildings. Risks related to the maintenance and ensuring the
smooth operation of processes related to the transhipment of goods are managed centrally in the maintenance
department within the area of investments, namely through annual and, in certain segments, multi-annual
planning, the implementation of maintenance work and preventive inspections, with a central warehouse for spare
parts and timely deliveries of spare parts. The risk of insufficient port flow is controlled by a gradual transition to
paperless operations in accordance with the adopted 2024-2028 Strategic Business Plan. On the basis of a traffic
study carried out in 2023, proposals for investment projects and measures to restrict access to the port will be
prepared. Adequate use of labour force is ensured through the appropriate allocation of workers between the profit
centres, and information systems for planning and monitoring the port's operational work are being upgraded.
The risk of information security is also shown among the operational risks, but following the measures and control
activities taken, it is assessed as moderate, and considered to be managed to an acceptable level. Given the
importance of this area, identified by the GRI materiality analysis, the way in which these risks are managed is
presented in Chapter 28 ‘Information Systems Security’.
14.2.3 Financial risks
Financial risks are those that affect the viability of the planned financial categories, primarily the planned future
cash flows, and are usually controlled in the process of asset and liability management.
The Group does not currently identify financial risks as key risks; however, the highest rated risk among all financial
risks is the fair value risk. As at 31 December 2023, 7.8 percent of the Group’s assets were invested in financial
investments measured at fair value. Due to the strategic orientation of investing in the development of core
business, the Group's portfolio management only involves managing the existing assets. The Group manages this
risk by monitoring the situation in the financial markets and their impacts on the portfolio, while active management
brings high return on investment.
Management of the fair value risk and other financial risks that include the interest rate risk, liquidity risk, foreign
exchange risk, credit risk and risk of adequate capital structure are assessed as moderate, less important or even
irrelevant. Control of these risks is presented in detail in the Accounting Report of Luka Koper, d. d., Note No. 32:
‘Financial instruments and financial risk management’.
14.2.4 Compliance risks
In September 2023, the EU adopted Regulation 2023/1805 of the European Parliament and of the Council on the use
of renewable and low-carbon fuels in maritime transport, and amending Directive 2009/16/EC, and simultaneously
repealed Directive 2014/94/EU (Directive on the deployment of alternative fuels infrastructure). The new Regulation
requires EU Member States to ensure a minimum on-shore power supply for container ships and cruise ships in
ports by 31 December 2029 at the latest. Luka Koper, d. d., and ELES, d. o. o. are carrying out procedures to obtain
80 Annual report 2023 Managing risks and opportunities
spatial-environmental and project documentation for the elaboration of a national spatial plan for the Luka Koper
substation and the connecting line to the port, which are necessary for the supply of electricity to ships.
When the Decree on limit values for environmental noise indicators is reconsidered, there is a risk that ships will
be redefined as a source of noise in the harbour or that lower limit values will be set, which may result in an inability
to comply with the legislative requirements. The risks associated with excessive noise are managed through a noise
reduction action plan, which includes a gradual switch to electrically powered technological equipment. As at 1
January 2023, the company has a voluntary Environmental Ship Index (ESI) scheme, which ports use to attract more
ships with state-of-the-art engines and cleaner propulsion systems, or to reduce atmospheric emissions by
rewarding cleaner and more environmentally friendly ships through lower port dues.
In 2024, activities will probably be concluded that are necessary to ensure compliance with the Rules on Explosion
Protection (Official Gazette of the Republic of Slovenia, No. 41/2016). The Rules specify the requirements to be met
by equipment and protective systems intended for use in potentially explosive atmospheres. These are mainly used
at the bulk and liquid cargo terminal.
With the adoption of the Environmental Protection Act (ZVO-2), which entered into force in April 2022, the deadlines
for adapting to the new requirements started to run. The company prepared a plan and started implementing
activities to adapt operations to all the additional requirements.
The risk of insufficient areas for disposal of marine sediments or sludge from dredging and seabed maintenance
is also recognised. On the basis of the Decree on the Maritime Spatial Plan Slovenia, Luka Koper, d. d., carries out
all the necessary activities to carry out a test transfer of sludge with the long-term goal of moving the materials
excavated during the seabed dredging back into the sea in the future. This is a sustainable approach, which is also
used by other ports around the world, and will allow the port to continue to develop and adapt its infrastructure to
accommodate larger and larger ships with greater draughts, in line with global trends in maritime transport. On
land, the construction of cassettes for the disposal of sludge is foreseen in the area of the Ankaran bonifika, which
is also earmarked for port expansion under the National Spatial Plan. The necessary documentation for these
interventions is being prepared.
The risk of compliance with labour legislation is managed by regular monitoring of changes in legislation, the
implementation of these changes in the systems and processes of the Luka Koper Group, and in the event of any
identified non-compliance, remedial measures are prepared and implemented in dialogue with the trade unions
and the other social partners.
In the area of fraud and corruption risk, Luka Koper d. d., started the implementation of the ISO 37001:2016 Anti-
Bribery Management System standard in 2023, which was completed in the first quarter of 2024. The system is
described in more detail in Chapter 27 ‘Corporate Integrity and Compliance, Protection of Personal Data and Human
Rights’.
The LKPG Share Annual report 2023 81
15 The LKPG Share
35
The share of Luka Koper, d. d., is listed on the Ljubljana Stock Exchange, Prime market, under the symbol LKPG.
At the end of 2023, it closed trading at 30.2 percent higher than the previous year-end. On the last trading day of
2023, the price per LKPG share was EUR 32.3.
As at 31 December 2023, 8.963 shareholders were entered in the shareholder register, which was 162 more than
in 2022. The Republic of Slovenia remains the largest shareholder.
Ten major shareholders as at 31 December
Shareholder
Number of
shares as at
31 Dec 2023
Ownership
interest as at
31 Dec 2023
Number of
shares as at
31 Dec 2022
Ownership
interest as at
31 Dec 2022
Republic of Slovenia
7,140,000
51.00%
7,140,000
51.00%
Slovenski državni holding, d. d.
1,557,857
11.13%
1,557,857
11.13%
Kapitalska družba, d. d.
696,579
4.98%
696,579
4.98%
Municipality of Koper
439,431
3.14%
439,431
3.14%
OTP Banka, d. d. – fiduciary account
372,231
2.66%
289,966
2.07%
Citibank N.A. – fiduciary account
259,290
1.85%
309,274
2.21%
Hrvatska poštanska banka, d. d. – fiduciary
account
150,082
1.07%
150,182
1.07%
Zagrebačka banka, d. d. – fiduciary account
131,318
0.94%
131,374
0.94%
Raiffaisen Bank International AG
75,100
0.54%
133,236
0.95%
RA-projekt.si, d. o. o.
45,812
0.33%
45,812
0.33%
Total
10,867,700
77.63%
10,893,711
77.81%
Ownership structure of Luka Koper, d. d., as at 31 December
Shareholder
Number of
shares as at 31
Dec 2023
Ownership
interest as at
31 Dec 2023
Number of
shares as at 31
Dec 2022
Ownership
interest as at
31 Dec 2022
Republic of Slovenia
7,140,000
51.00%
7,140,000
51.00%
Individuals
2,478,239
17.70%
2,389,601
17.07%
Slovenian Sovereign Holding
1,557,857
11.13%
1,557,857
11.13%
Fiduciary accounts with banks
1,049,117
7.49%
1,008,891
7.21%
Kapitalska družba
702,568
5,02%
702,568
5,02%
Legal entities
468,085
3.34%
447,664
3.20%
Municipality of Koper
439,431
3.14%
439,431
3.14%
Foreign banks
75,100
0.54%
147,238
1.05%
Mutual funds
74,266
0.53%
136,004
0.97%
Brokerage companies
10,462
0.07%
10,462
0.07%
Banks
4,359
0.03%
15,939
0.11%
Foreign legal entities
516
0.00%
4,345
0.03%
Total
14,000,000
100,00%
14,000,000
100,00%
35
GRI 2-1, 2-9
82 Annual report 2023 The LKPG Share
15.1 Share trading
The average daily price of the Luka Koper, d. d., share amounted to EUR 29.58 in 2023. During the year, its value
fluctuated between EUR 24.90 and EUR 34.80. The highest market price of the share was EUR 35.00 and the lowest
EUR 24.20. Market cap of Luka Koper, d. d., shares as at 31 December 2023 was EUR 452,200,000.
In 2023, the total number of stock-exchange transactions and deals with lots for the LKPG share was 2,570. Total
turnover in the period amounted to EUR 14,840,279. whereby 494,856 shares changed owners.
Changes in the daily LKPG share and daily turnover in 2023
Movement of the SBI TOP index and the LKPG index in 2023
The LKPG Share Annual report 2023 83
Key data on the LKPG share
2023
2022
Number of shares 14,000,000
14,000,000
Number of ordinary no-par value shares 14,000,000
14,000,000
Share price on the last trading day (in EUR) 32.30
24.80
Book value per share as at 31 Dec (in EUR)
36
36.10
34.30
Price-To-Book (P/B Ratio)
37
0.89
0.72
Earnings per share (EPS) (in EUR)
38
3.89
5.23
Price-to-earnings ratio (P/E ratio)
39
8.30
4.74
Market cap as at 31 Dec (in EUR million)
40
452.20
347.20
Total share turnover (in EUR million) 14.84
17.93
Dividend per share (in EUR)
41
2.50
1.14
Dividend yield (in %)
42
7.74
4.60
15.2
Dividend policy
In August 2023, the Company's Management Board and Supervisory Board adopted the Company's dividend policy,
in line with which the Company aims to balance shareholders' expectations of reasonable dividend yields and the
Company's aspiration to use its accumulated profit to finance its development and sustainability plans, thereby
ensuring the long-term success and stability of its business.
The dividend is based on the sufficient amount of the company's accumulated profit. The company's Management
Board and Supervisory Board propose, as a rule, that up to 50 percent of the net profit be used to pay out dividends.
Any remaining accumulated profit is expected to remain unallocated.
15.3
Cross-linkages with other companies
As at 31 December 2023, Luka Koper, d. d., did not hold an interest of at least 5 percent in any company which owns
shares of Luka Koper, d. d. The shareholders holding at least 5 percent of the LKPG shares are the Republic of
Slovenia (51.00 percent) the Slovenian Sovereign Holding (11.13 percent).
Pursuant to Article 48a of the Book- ., in 2022 became the holder of an
additional 5,989 LKPG shares, which otherwise do not have voting rights and are kept in a separate account in KDD.
, holds a total of 702,568 LKPG shares, representing 5,02 percent of the Company's
total issued shares, but its ownership share, which guarantees voting rights, remains unchanged, i. e. 4.98 percent.
36
Book value per share = equity / number of shares.
37
Price-To-Book (P/B Ratio) = closing price / book value of the share.
38
Earnings per share (EPS) = net earnings / number of shares.
39
Current share price to earnings per share (P / E) ratio = closing price / earnings per share (EPS).
40
Market capitalization = closing price * number of shares.
41
Dividend per share = balance sheet profit used to pay dividends / number of ordinary shares.
42
Dividend yield = dividend per share / closing price
84 Annual report 2023 The LKPG Share
15.4 Shares owned by Members of the Supervisory Board and the
Management Board
Shareholder
Ownership
31 Dec 2023
Supervisory Board
Rok Parovel, Member of the Supervisory Board
8
Shareholder
Ownership
1 Jan 2024
Management Board
Gorazd Jamnik, Member of the Management Board
10
As at 31 December 2023, other Members of the Supervisory Board and the Management Board held no shares of
the Company.
15.5 Own shares, authorised capital, conditional capital increase
As at 31 December 2023, Luka Koper, d. d., held no own shares. The applicable Company’s articles of association
do not provide for categories of authorised capital up to which the Management Board could increase the share
capital. The Company also had no basis for conditional increase in the share capital.
15.6 Rules on restrictions on trading and presentation of trading in shares
of the Company and related parties
According to the recommendations of the Ljubljana Stock Exchange, Luka Koper, d. d., adopted the Rules on
Trading in Issuer’s Shares, which is an additional guarantee to keep the interested public equally informed on all
significant business events, and is an important element in strengthening the confidence of investors and the
reputation of Luka Koper. The purpose of the Rules is to enable the persons subject to it trading in shares of the
Company and to prevent any possible trading based on insider information. At the same time, the Rules enable
mandatory reporting on the sale and purchase of the Company’s shares to the Securities Market Agency in
accordance with the law.
15.7 Communications with investors
Luka Koper, d. d., communicates with its investors regularly and keeps them informed on Company news through
various communication tools and channels:
MEETINGS WITH INVESTORS
Each year, the company participates in meetings with investors organised by the Ljubljana and Zagreb Stock
Exchange, which take the form of individual meetings. Information for investors is available at https://luka-
kp.si/eng/lkpg-share.
WEBSITE
A special chapter on the website headed “For Investors” is devoted to shareholders and investors; there, they can
find up-to-date information regarding the LKPG share, ownership structure, current interim, annual and past
operating reports, information published on SEO-net, material for General Meetings of Shareholders, and answers
to most frequently asked questions regarding shares.
SEOnet
Pursuant to legislation, shareholders and the public are kept informed of operational results and all important
business events in a timely manner via SEO-net, an electronic media outlet of the Ljubljana stock exchange; whilst
information is also provided to shareholders and investors through other communication channels.
The LKPG Share Annual report 2023 85
PORT BULLETIN
Each month, brokerage companies and analysts are sent a copy of the Port Bulletin, which also covers other issues
related to operations of the company and developments in the port.
PORT SHAREHOLDER
Once a year, in the period prior to the General Meeting of Shareholders, Luka Koper, d. d., issues the Port
Shareholder, a publication focusing on business results of the previous year, which is sent to all the shareholders.
CONTACT PERSON:
Rok Štemberger
Investor Relations
Phone: (00) 386 (0)5 66 56 140
E-pošta:rok.stemberger@luka-kp.si
15.8 Calendar of relevant publications in 2024
Periodic publications and other price sensitive information will be published on the Ljubljana Stock Exchange
website via the SEO-net electronic information system (www.ljse.si) and on the website of Luka Koper, d.
d., https://www.luka-kp.si/en/investors/financial-calendar/. Any changes to expected dates of individual releases
will be duly communicated through our website.
86 Annual report 2023 The LKPG Share
SUSTAINABILITY REPORT
Luka Koper's commitment to sustainable development is a guarantee that its future
development will be friendly to local residents, the natural environment, and its
employees.
2023 Highlights
19.1 hours training/employee in the Luka Koper Group
2.6 turnover rate in the Luka Koper Group
Green Transition Strategy updated
EMAS certified obtained
Renewed agreement with the Koper Municipality on the
implementation of mitigation measures
Moving to training with digital tools
ISO 37001 ‘Anti-bribery management systems’ standard
implemented
On the Sustainability Report Annual report 2023 87
16 On the Sustainability Report
16.1 Non-financial statement
The sustainability report of Luka Koper, d. d., and the Luka Koper Group meets all the terms determining the
publication of a non-consolidated and consolidated non-financial statement. In line with the Companies Act (ZGD-
1), the Sustainability Report of Luka Koper, d. d., and the Luka Koper Group for 2023 takes into account the
requirement to publish a statement on non-financial operations as set out in the provisions of Article 56, paragraph
12, and Article 70c of the Companies Act. The Sustainability Report of Luka Koper, d. d., and the Luka Koper Group
also complies with the requirements of the ‘Guidelines on non-financial reporting (methodology for reporting non-
financial information)’, which were adopted and published in the Official Journal of the European Union in July 2017,
and follows the provisions of the ‘Directive on disclosure of non-financial and diversity information by certain large
undertakings and groups’ and provisions of the ‘Taxonomy Regulation’ (EU) 2020/852.
16.2 Sustainability report according to ESG sustainability aspects
The Sustainability Report of Luka Koper, d. d. and the Luka Koper Group covers the management of impacts
according to ESG sustainability aspects:
• E (environment) - the environmental aspect of sustainable development
• S (social) - the social aspect of sustainable development
• G (governance) - the governance aspect of sustainable development
ESG is the collective name for a set of standards that companies use to assess their relationship with the
environment, society and the governance of their organisation.
Environmental standards show the company's attitude to environmental protection. Corporate social responsibility
demonstrates the company's attitude towards its stakeholders. Governance refers to the management, good
practices, control mechanisms and ethical conduct of business.
Luka Koper, d. d. and the Luka Koper Group manage ESG factors through the Global Reporting Initiative (GRI)
standards and by pursuing the United Nations Global Sustainable Development Goals.
16.3 Sustainability report according to GRI Sustainability Reporting
Standards
43
The 2023 report has been prepared in accordance with the GRI Global standards for sustainability reporting,
specifically, the revised standards (Foundation 2021), effective from 1 January 2023. In devising the report and
defining the material content, the following was used:
• UNIVERSAL STANDARDS
• GRI 1: Foundation 2021: Requirements and principles for reporting in accordance with the GRI
Standards.
• GRI 2: General disclosures: Disclosures about the organisation.
• GRI 3: Material Topics: Disclosures about the organisation’s material topics.
• TOPIC STANDARDS
• GRI 201 to 418: chosen standards according to the organisation’s defined material topics.
Reporting refers to the Luka Koper Group. For certain topics that have not yet been implemented at Group level, it
is stated specifically to which company or companies of the Group they apply. Data has not changed from previous
reports. The changes with respect to 2022 relate to changes in the ownership of Adria Investicije, d. o. o. (reported
in detail in Section 7.2 ‘Organisation of the Luka Koper Group and associates’) and changes in the management of
the company (reported in detail in Section 4.6 ‘The Management Board of Luka Koper, d. d.’).
43
GRI 2-4
88 Annual report 2023 On the Sustainability Report
16.3.1 Principles of sustainable reporting
In collecting data and composing the 2023 Sustainability Report, the following reporting principles were taken into
account:
• Accuracy,
• Balance,
• Clarity,
• Comparability,
• Perfection,
• Sustainable context,
• Timeliness,
• Verifiability.
16.3.2 Reporting periods
44
The Luka Koper Group has been reporting on sustainability on an annual basis since 2000, with the first GRI-
compliant sustainability report being produced for the 2017 financial year. The Sustainability Report is prepared
each year for the same reporting period as the business report and financial statements, i.e., for the calendar year
starting on 1 January and ending on 31 December. The preceding sustainability report was prepared for 2022 and
made public on 14 April 2023. The 2023 report is prepared in accordance with the revised GRI standards (Foundation
2021). In the spirit of commitment to sustainable development, the Luka Koper Group has upgraded the contents
of the 2023 sustainability report regarding the recognised materiality and will continue to do so in the future. The
2023 Sustainability Report will be made public in the context of the 2023 Annual Report on 18 April 2024. The GRI
organisation will also be informed about the publication of the Sustainability Report for 2023 in April 2024.
Contact point
The Sustainability Report is part of the 2023 Annual Report of
the Luka Koper Group and is available at:
https://luka-kp.si/eng/annual-reports
Additional information on sustainability activities is available
at:
www.zivetispristaniscem.si
Contact person for information on the Sustainability Report:
T:+386 5 665 61 00
E: zsp@luka-kp.si
16.3.3 How to approach the Sustainability Report
Background information on the report is presented in the first chapters of the Sustainability Report, while
information on the Luka Koper Group is presented in Chapter 7, ‘Presentation of the Luka Koper Group and
description of the business model’, which puts the Group in a broader sustainability context and outlines its
sustainability management. In subsequent chapters, the Luka Koper Group reports on its operations in important
areas of sustainable development in 2023 on the basis of the previously identified material topics. The GRI indicator
number in the footer connects GRI indicators with the text.
16.3.4 External verification of sustainability report
45
In March 2023, Luka Koper, d. d., concluded a three-year contract for the external verification of the sustainability
report with SIQ Ljubljana, an independent institution that is not connected to Luka Koper, d. d. The sustainability
report for the year 2023 was thus submitted to SIQ Ljubljana for external verification of reporting in accordance
with the GRI standards (Foundation 2021). The recommendations of the GRI external audit from 2023 were taken
into account in preparing the 2023 report. SIQ Ljubljana issues a verification report on the verification of the
sustainability report with a declaration forming part of this report. The management of Luka Koper, d. d., was not
involved in the external verification of the sustainability report.
44
GRI 2-3
45
GRI 2-5
On the Sustainability Report Annual report 2023 89
90 Annual report 2023 Process to determine material topics
17 Process to determine material topics
46
In line with the requirements of the GRI Standards, in 2023, Luka Koper reviewed the material topics identified in
the 2022 Annual Report and took into account the changes in impacts in the four steps of the material topic
identification process:
• Step 1: Understand the organisation’s context
• Step 2: Identify actual and potential impacts
• Step 3: Assess the significance of the impacts
• Step 4: Prioritise the most significant impacts for reporting
Luka Koper documented the process of determining the material topics of reporting in the 2023 Annual Report and
the identified changes in impacts compared to 2022. The Management Board, which approved the 2023 set at its
meeting on 12 December 2023, and the Supervisory Board, which approved the 2023 set at its meeting on 18
December 2023, were also involved in the process of defining the material topics of reporting and the set of
identified impacts and material topics to be reported.
17.1 Step 1: Understand the organisation’s context
As part of understanding the organisation’s context, the following was done:
• Overview of the organisation’s activities,
• Review of business relationships,
• Overview of the sustainability context,
• Review of stakeholders.
17.1.1 Stakeholders of Luka Koper
47
Luka Koper is all the people in any way connected to the port.
With its activity, the port of Koper affects various groups of people who, in turn, themselves affect the port’s
operation. Stakeholders of Luka Koper are defined and recognized in the Corporate Governance Policy of Luka
Koper, d. d., which is available on the website Corporate documents - Luka Koper d. d. (luka-kp.si), and in the
framework of individual business processes of the Company.
46
GRI 2-12, 2-13, 2-14, 2-16, 2-29, 3-1, 3-2
47
GRI 2-29, 3-2
Process to determine material topics Annual report 2023 91
From the wide range stakeholders with whom the Luka Koper Group cooperates and develops sustainable
relationships, and who are defined in the Corporate Governance Policy of Luka Koper, d. d. and in the framework
of the Company's individual business processes, key stakeholders and their ways of involvement in the operations
of the Luka Koper Group were identified based on strategic guidelines.
Key stakeholders
Communication tools
Frequency of engagement
SHAREHOLDERS
• Website
• SEOnet
• Gatherings
• General Meeting
• Annual report
• Investor conferences
• Port Bulletin
• Port Shareholder
• Press conferences
• Upon publishing business
reports and, if necessary,
upon meetings with the
investor audience
CUSTOMERS AND OTHER MEMBERS
OF THE PORT COMMUNITY
• Website
• TinO business information system
• Notifications and other service messages
• Telephone contacts
• Personal contacts
• Fairs and conferences
• Organisation of target business events
• Customer satisfaction survey
• Port Bulletin
• LinkedIn
• Port Days
• Gatherings
• Daily communication via
networks, if necessary,
through personal contacts,
survey every two years,
Port days once a year,
conferences, fairs, target
business events
PUBLIC AUTHORITIES
• Web portals
• Reports
• Regularly
SUPPLIERS
• ‘Best Supplier’ event
• PSP portal
• Daily
EMPLOYEES
• Survey on employee satisfaction
• Port Bulletin
• Quality teams
• Chat room
• Intranet
• Meetings
• Gatherings
• Evaluation of managers
• Annual interviews
• Assessment of mutual cooperation between units
• Daily
SOCIAL ENVIRONMENT
• Port Day
• "Living with the Port" portal
• Meetings with representatives of local communities
• Social networks
• Port Bulletin
• Occasionally, as needed
ENVIRONMENTAL ORGANISATIONS
• "Living with the Port" portal
• Environmental reports
• Expert councils
Occasionally
92 Annual report 2023 Process to determine material topics
Recognised activities of the Luka Koper Group and impact on stakeholders
Activities of the Luka Koper Group
Impact on stakeholders
Carrying out cargo handling port operations
Carrying out maritime passenger traffic
Port management and administration
Management and development of port infrastructure not intended for public
transport
Carrying out public utility service of regular maintenance of the port
infrastructure intended for public transport
Carrying out public utility service of collecting of waste from vessels
Logistics services and distribution
Mooring/unmooring of ships
Technological and ecological research
Employees
Public authorities
Customers, port community
Suppliers
Environmental organisations
Social environment
Shareholders
17.2 Step 2: Identify actual and potential impacts
The impacts of the organisation on the economy, the environment and people, including impacts on their human
rights, have been identified based on a review of activities, business relationships, sustainability context, recognised
impacts on stakeholders, documents (adopted policies, strategies, codes, regulations, rules of procedure,
statements, guidelines, etc.) and information from legal and other reviews, inspections, stakeholder initiatives,
complaints mechanisms, risk management and public announcements. The identified impacts included actual and
potential as well as negative and positive impacts.
17.3 Step 3: Assess the significance of the impacts
Criteria have been set and impact assessments have been carried out by the company, based on the requirements
of the GRI standards. The financial impact was also assessed under the size and breadth of impact criterion.
All impacts were assessed on a scale:
1 – low (of little importance)
2 – medium (of medium importance)
3 – high (of very importance)
17.4 Step 4: Prioritise the most significant impacts for reporting
The assessed impacts were ranked in order of importance from the most to the least important and grouped into
topics.
To verify its identified impacts and material topics, the company created an online survey in November 2023 and
sent it to just over 210 addresses of its recognised stakeholders. 52 stakeholders responded (approx. 25-percent
response).
Key stakeholders
Participation in preparation of
sustainability report - survey
Number of completed
questionnaires
SHAREHOLDERS
• YES
• 9 questionnaires completed
CUSTOMERS AND OTHER MEMBERS OF
THE PORT COMMUNITY
• YES
• 24 questionnaires completed
PUBLIC AUTHORITIES
• YES
• 3 questionnaires completed
SUPPLIERS
• YES
• 6 questionnaires completed
EMPLOYEES
• YES
• 2 questionnaires completed
SOCIAL ENVIRONMENT
• YES
• 4 questionnaires completed
ENVIRONMENTAL ORGANISATIONS
• YES
• 4 questionnaires completed
Process to determine material topics Annual report 2023 93
Impacts highlighted by stakeholders
The importance of content increases with colour - the darker the colour, the more important the content.
IMPACTS
ESG
SHAREHOLDERS
SUPPLIERS
SOCIAL
ENVIRONMENT
PUBLIC
AUTHORITIES
CUSTOMERS AND
OTHER MEMBERS
OF THE PORT
COMMUNITY
ENVIRONMENTAL
ORGANISATIONS
EMPLOYEES
Occupational safety and health
S
Fire, explosion
E
Wastewater generation
E
Spills of hazardous substances
E
Waste management
E
Dust emissions into the atmosphere
E
Noise emissions
E
Energy consumption
E
Business compliance and corporate
integrity, compliance with laws
G
Marine pollution
E
Information Systems Security
G
Human rights, discrimination and
diversity
G
Dispersal of material outside the
port
E
Risk of serious injury at work
S
Drinking water consumption
E
Inability to provide (timely) services
to customers (IT system downtime,
delays in service delivery, weather
restrictions, strikes, etc.)
S
Employee engagement
S
Leadership continuity (too frequent
changes in the company
management)
G
Reliability and quality of Luka
Koper’s service (focus on the
customer, partnership relationship,
resolution of complaints)
S
Impact on biodiversity
E
Minor injuries at work
S
Radioactive and electromagnetic
radiation
E
Economic value created and
distributed and employment in
activities indirectly influenced by
the Luka Koper Group (pilotage,
towage, ship supply, ship
maintenance, maritime agents,
control houses, freight forwarding,
transport, public administration
services...)
G
Light pollution
E
Inability to expand the port area
G
Procurement of materials and
services from suppliers
G
Digitisation of business (automation
and computerisation) Smart port
S
Occupational diseases
S
Recruitment in the Luka Koper
Group
S
Training and education of
employees
S
Socially responsible activities
(sponsorships, donations,
mitigation measures)
S
Payment of transhipment fee
G
Motivating employees with minor
benefits
S
Cooperation with educational
institutions
S
Payment of fee for the use of
building land
G
Wages and salaries
G
Payment of the concession tax
G
Payment of income tax, taxes and
contributions from employee
remuneration
G
Investments in financial
instruments
G
Payment of dividends to owners
G
Membership fees to associations
G
94 Annual report 2023 Process to determine material topics
17.5 Materiality matrix and identified impacts
48
Materiality matrix - identified impacts assessed by Luka Koper and by stakeholders, showing changes compared
to 2022
The impacts coloured blue were newly identified in 2023, relative to those identified in 2022. The materiality
threshold has been set at the same level as in 2022, at a score greater than or equal to 2.0.
For stakeholder importance, the average of all stakeholder ratings is calculated. The importance for Luka Koper
was assessed by the Company's management and the working group.
48
GRI 3-2
Impacts ESG
Important for
stakeholders
2023
Important for
stakeholders
2022
Important for
Luka Koper
2023
Important for
Luka Koper
2022
Occupational safety and health
S
2,9 2,9 3,0 3,0
Fire, explosion
E
2,8 2,9 2,5 2,0
Wastewater generation
E
2,8 2,7 2,0 2,0
Spills of hazardous substances
E
2,8 2,9 2,0 1,0
Waste management
E
2,8 2,8 3,0 3,0
Dust emissions into the atmosphere
E
2,8 2,8 2,5 3,0
Noise emissions
E
2,8 2,7 3,0 3,0
Energy consumption
E
2,7 2,7 2,5 2,0
Business compliance and corporate integrity, compliance with laws
G
2,7 2,8 3,0 3,0
Marine pollution
E
2,7 2,9 2,5 2,0
Information Systems Security
G
2,7 2,5
Human rights, discrimination and diversity
G
2,7 2,8 3,0 3,0
Dispersal of material outside the port
E
2,7 2,7 1,5 1,0
Risk of serious injury at work
S
2,7 2,7 3,0 3,0
Drinking water consumption
E
2,7 2,7 2,5 2,0
Inability to provide (timely) services to customers (IT system downtime, delays
in service delivery, weather restrictions, strikes, etc.)
S
2,7 2,6 2,0 1,0
Employee commitment
S
2,7 2,7 2,5 2,0
Leadership continuity (too frequent changes in the company management)
G
2,7 2,5
Reliability and quality of Luka Koper’s service (focus on the customer,
partnership relationship, resolution of complaints)
S
2,7 2,7 3,0 3,0
Impact on biodiversity
E
2,6 2,7 2,0 2,0
Minor injuries at work
S
2,6 2,5 2,0 2,0
Radioactive and electromagnetic radiation
E
2,6 2,8 2,0 1,0
Economic value created and distributed and employment in activities indirectly
influenced by the Luka Koper Group (pilotage, towage, ship supply, ship
maintenance, maritime agents, control houses, freight forwarding, transport,
public administration services...)
G
2,6 2,6 2,5 3,0
Light pollution
E
2,6 2,7 2,0 1,0
Inability to expand the port area
G
2,6 2,7 3,0 3,0
Procurement of materials and services from suppliers
G
2,6 2,4 2,5 3,0
Digitisation of operations (automation and computerisation) for the transition
to the smart port concept
S
2,5 3,0
Occupational diseases
S
2,5 2,6 1,5 1,0
Recruitment in the Luka Koper Group
S
2,5 2,2 3,0 3,0
Training and education of employees
S
2,5 2,6 2,5 3,0
Socially responsible activities (sponsorships, donations, mitigation measures)
S
2,4 2,5 2,5 2,0
Payment of transhipment fee
G
2,3 2,3 2,5 3,0
Motivating employees with minor benefits
S
2,3 2,3 2,0 2,0
Cooperation with educational institutions
S
2,3 2,6 2,0 1,0
Payment of fee for the use of building land
G
2,3 2,2 2,5 3,0
Wages and salaries
G
2,2 2,3 3,0 3,0
Payment of the concession tax
G
2,2 2,3 2,5 3,0
Payment of income tax, taxes and contributions from employee remuneration
G
2,2 2,3 2,5 3,0
Investments in financial instruments
G
2,1 2,0
Payment of dividends to owners
G
2,1 1,9 3,0 3,0
Membership fees to associations
G
1,8 1,8 1,5 1,0
Process to determine material topics Annual report 2023 95
Based on the impacts identified and assessed by the Company and stakeholders, the Company has identified 24
material topics for reporting in the 2023 Sustainability Report, with the changes shown in relation to 2022:
1 Indirectly created and distributed economic value (GRI 203 Indirect Economic Impacts)
2 Directly distributed economic value (payment of duties, taxes, dividend payments, etc.) (GRI 201
Economic Performance, GRI 202 Market Presence, GRI 203: Indirect Economic Impacts, GRI 204
Procurement Practices)
3 Quality of service delivery (GRI 201 Economic Performance)
4 Human rights, discrimination and diversity (GRI 405 Diversity and Equal Opportunity, GRI 406 Non-
discrimination)
5 Occupational health and safety (GRI 403 Occupational Health and Safety)
6 Business compliance and prevention of corruption (GRI 205 Anti-corruption)
7 Employment (GRI 401 Employment)
8 Emissions into the environment (GRI 305 Emissions)
9 Training and education (GRI 404 Training and Education)
10 Waste management (GRI 306 Waste)
11 Restrictions on the expansion of the port area (GRI 203 Indirect Economic Impacts)
12 Socially responsible activities (GRI 203 Economic Performance, GRI 413 Local Communities)
13 Benefits for employees (GRI 401 Employment)
14 Employee engagement (GRI 401 Employment)
15 Resource use and climate transition (GRI 302 Energy)
16 Biodiversity (GRI 304 Biodiversity)
17 Fire safety (GRI 305 Emissions)
18 Drinking water consumption and effluents (GRI 303 Water and Effluents)
19. Information systems security (Chapter 28 ‘Information systems security’)
20. Leadership continuity (GRI 2 Governance)
21. Digital transformation (Chapter 24 Business digitalisation)
22. Financial instruments (GRI 201 Economic performance)
23 Cooperation with educational institutions (GRI 401 Employment)
24. Quality of service delivery (GRI 201 Economic Performance)
According to previous reporting, the following changes in the reporting of material topics occurred in 2023:
• Four new impacts were identified in 2023:
o Information Systems Security
o Leadership continuity (too frequent changes in the company management)
o Business digitalisation (automation and computerisation) for the transition to the smart port
concept
o Investments in financial instruments
• Four new material topics were identified from among the new impacts identified:
o Cyber security
o Leadership continuity
o Digitisation
o Financial Instruments
• In 2023, two impacts were assessed higher than in 2022 and thus identified as material topics:
o Cooperation with educational institutions
o Quality of services delivered
96 Annual report 2023 Process to determine material topics
17.6 Material topics, grouped by ESG sustainability aspects
ESG
Important reporting topics
Highest score
E – ENVIRONMENTAL
ASPECT
Waste management
3.0
Emissions into the environment
3.0
Fire safety
2.5
Resource use and climate transition
2.5
Drinking water consumption and effluents
2.5
Biodiversity
2.0
S - SOCIAL VIEW
Occupational safety and health
3.0
Quality of service delivery
3.0
Digitisation
3.0
Employment
3.0
Employee engagement
2.5
Training and education
2.5
Socially responsible activities
2.5
Quality of services delivered
2.0
Benefits for employees
2.0
Cooperation with educational institutions
2.0
G – GOVERNANCE
ASPECT
Business compliance and prevention of corruption
3.0
Human rights, discrimination and diversity
3.0
Restrictions on the expansion of the port area
3.0
Directly distributed economic value (payment of duties, taxes, dividend
payments, etc.)
3.0
Information Systems Security
2.5
Leadership continuity
2.5
Indirect economic value generated and distributed
2.5
Financial Instruments
2.0
The impacts have been grouped into 24 material topics.
Luka Koper Group and sustainable development guidelines Annual report 2023 97
18 Luka Koper Group and sustainable
development guidelines
49
In relation to sustainable development, the Luka Koper Group has adopted various policies, strategies, codes, rules,
rules of procedure and statements that address all areas of business:
− Corporate Governance Policy of Luka Koper, d. d., (21 Jan 2022)
− Code of Ethics of the Luka Koper Group, (1 Oct 2019)
− Code of Conduct for Business Partners of the Luka Koper Group, (11 Jul 2022)
− Business continuity policy of Luka Koper, d. d., (24 Jul 2018)
− Sales policy of Luka Koper, d. d., (23 Dec 2022)
− Corporate integrity strategy of Luka Koper Group companies, (1 Oct 2019)
− Managing conflicts of interest policy of the Luka Koper Group, (21 Jan 2020)
− Policy on health and safety in the port and energy efficiency, (March 2019)
− Security policy of Luka Koper, d. d., (August 2015)
− Quality policy, (June 2022)
− Procurement policy, (5 May 2023)
− Diversity Policy of the Management Board and the Supervisory Board of Luka Koper, d. d., (27 Nov 2020)
− Remuneration Policy for the Management and Supervisory Bodies of Luka Koper, d. d. and the
Management Bodies of the Subsidiaries in the Luka Koper Group, (25 May 2023)
− Rules of Procedure of the Corporate Integrity Officer and the Corporate Integrity Violations Committee
and for handling the reports of breaches in the Luka Koper Group, (25 Sep 2023)
− Rules of Procedure of the Operations Compliance Officer, (19 May 2021)
− Risk appetite statement, (17 Mar 2020)
− Sponsorships and donations strategy, (24 Aug 2023)
− Rules on gifts and hospitality in Luka Koper Group companies, (22 Sep 2023)
− Rules of Procedure of the Management System of Luka Koper, d. d. for the Prevention of Corruption, (25
Sep 2023, amendments 23 Jan 2024)
− Corruption Prevention Policy, (24 Aug 2023)
The following strategy documents were in force in 2023:
− 2020-2025 Strategic Business Plan
− Strategic orientations of development in the environmental field,
− Sustainable development and social responsibility strategy of Luka Koper, d. d.,
− 2020–2025 IT strategy.
At the end of 2023, a new Strategic Business Plan for the period 2024-2028 was adopted, which also included a
digital transformation strategy for the transition towards the smart port concept.
With its policies, Luka Koper, d. d., communicates to the internal and external public the company’s general
orientation for a specific area or content of its operations. The purpose of each policy is to define the foundations
of the system it governs. Each policy is clear, understandable and up-to-date, and published in an appropriate
manner. Each policy by itself and all of them together communicate the Company’s central purpose to ensure a
sustainable future for itself. They are based on the vision, mission, values and ethics. The established policies are
regularly reviewed and maintained by the Company. Each individual policy has its own guardian, who has a
responsibility to ensure that the policy is up-to-date and consistent with the company's vision, mission, values and
ethics, and to take into account all relevant aspects of the internal and external environment. Policies can change
when it is assumed with a high degree of certainty that changes will take place in the context of the organisation,
i.e., important aspects of its internal and external environment.
The Management Board of the Company controls the management of sustainable development by reviewing,
updating, adopting, and confirming the above-mentioned documents, in particular the Sustainable development
and social responsibility strategy of Luka Koper, d. d., which is published on the website Živeti s pristaniščem -
Poročila in dokumenti (zivetispristaniscem.si) and will be updated in 2024.
49
GRI 2-12, 2-13, 2-14, 2-17, 2-23, 2-24, 2-25, 3-3
98 Annual report 2023 Luka Koper Group and sustainable development guidelines
Sustainability reporting is done regularly through monthly, quarterly and annual reports, which are presented to
the Management Board at its meetings. Annual Reports of the Luka Koper Group and Luka Koper, d. d., including
the Sustainability Report, are published on the website Annual Reports - Luka Koper d. d. (luka-kp.si), after prior
approval by the Management Board and the Supervisory Board at their regular meetings, where the competent
departments present the contents.
Professional support in terms of content and in managing the recognised impacts of sustainable development is
provided to the Company's Management Board and Profit Centres by individual specialised departments, organised
by the area of expertise, from fundamental management functions to specialist knowledge required to carry out
specific activities. Luka Koper, d. d., has also adopted an internal act governing the delegation of powers to a lower
level. The powers themselves and their delegation, or the extent of the powers delegated by the Management Board
to the staff, which includes in particular heads of organisational units and authorised representatives, are also
regulated in the employment contract, the job description and the powers conferred by the Management Board as
soon as the employees take up these functions. In addition, individual powers are granted for individual areas and
specific positions of authorised representatives in the company, specifying the content of the authorisation, its
scope and duration. A Management Representative for Environment and Occupational Health and Safety and an
Environmental Protection Officer are appointed to implement the programmes and achieve the objectives in the
field of environmental protection and occupational health and safety. In Luka Koper, the area of corporate integrity
is overseen by the Corporate Integrity and Operations Compliance, Protection of Personal Data and Human Rights
Officer and the Corporate Integrity Violations Committee. A Risk and Opportunities Management Officer has been
appointed for the risks and opportunities management system, and a Register of Risks and Opportunities has been
established, including opportunities to achieve strategic objectives while taking into account the highest standards
of sustainable development. Significant impacts on the Company's business in terms of negative impacts on
stakeholders are communicated to the Management Board and the Supervisory Board through the submission and
consideration of regular reports: on risk management, of violations of corporate integrity, compliance, occupational
health and safety, environmental protection, fire safety, etc.
The design of the management system for the prevention of corruption and operations compliance and the
implementation of planned activities in subordinate processes is reviewed by the Operations Compliance Officer. It
prepares a report on the inspections, which is communicated to the company's Management and Supervisory
Boards. The Management Board regularly reviews the effectiveness of the system to compare the planned and
achieved targets and determine the necessary measures for improvement. It provides qualified personnel and the
necessary resources for the operation of the system and ensures that internal audits are carried out. The
functioning of the system is reviewed regularly by the Supervisory Board in the context of the reports it receives.
With regard to the management of non-conformities, this process is further specified in internal non-conformity
management rules, while service and process improvements are planned on the basis of the adopted corporate
policy, the vision and business objectives, customer requirements, self-assessments and audit findings,
improvement proposals, as well as data analysis and management review.
The Management Board is kept informed of information on sustainable development through the quarterly work
programmes, various reports, and management review prepared by relevant staff and authorities, and through the
adoption of measures to improve the management of sustainable development.
The management of the company also receives regular training in the field of sustainable development. In 2023, a
member of the Management Board - Worker Director - completed 63 hours of sustainability training. Members of
the Management Board are enrolled in the Leadership Academy training, most of the modules of which will be
delivered in 2024 and are also invited to the e-learning content of the Knowledge Room.
The Company is also committed to complying with applicable legislation, codes of reference and adopted policies.
It meets and embeds these commitments in responsible business conduct in all its activities and in business
relationships within the organisation by regularly updating internal procedures and enshrining these principles in
internal acts and business contracts. The commitments foresee a review of business partners and an external
review of the Corporate Governance Statement once every three years, and also include respect for human rights.
Human rights issues are discussed in more detail in chapter 27.3 ‘Respect for human rights’. Sustainable
investments are reported in more detail in Chapter 11 ‘Investments in non-financial assets’.
Luka Koper Group and sustainable development guidelines Annual report 2023 99
18.1 Sustainable development strategy
50
Sustainable development is development that meets the needs of society without compromising the needs of future
generations. Sustainability in the maritime industry means ensuring safe, efficient and reliable transport of goods
while reducing environmental impacts and increasing resource efficiency (IMO, 2013). Sustainable ports are those
ports that, in accordance with their sustainable strategic orientations and activities, meet the current and future
needs of ports and their stakeholders, while protecting and conserving human and natural resources (AAPA, 2007).
Luka Koper, d. d., operates a port that is surrounded by residents on two sides, and by natural environment of
special importance (Natura 2000) in its hinterland, whereas its external face is embraced by the vulnerable marine
ecosystem. Due to its location, it has been seeking to improve the quality of life in the entire area in which the port
is situated for a number of years. In its operations and development issues, Luka Koper takes into account the
principles of sustainable development and responsible environmental management, with sustainable development
being one of the key strategic directions of the Group. The Sustainable Development and Social Responsibility
Strategy of Luka Koper, d. d. is the umbrella document for the management of social responsibility and sustainable
development. The document is published on the website Živeti s pristaniščem - Poročila in dokumenti
(zivetispristaniscem.si) and will be updated in 2024.
18.2 Luka Koper Group is addressing SUSTAINABLE DEVELOPMENT GOALS
Being aware that the port is an important sustainable development stakeholder whose impacts on the environment
and society may be both positive and negative, the Luka Koper Group has decided to accede to addressing global
sustainable development goals in the context of comprehensive sustainability reporting. Sustainable Development
Goals (SDG) have been adopted by all United Nations member states, their purpose being to pursue the
development of the entire society, economy, science and civil society – which will play an important role in reaching
the key objectives of the entire Company by 2030. The United Nations Sustainable Development Goals and strategic
orientations have been set out by the Republic of Slovenia in the Slovenian Development Strategy 2030
51
.
Sustainable Development Goals
52
50
GRI 3-3
51
Implementation of the Development Strategy of Slovenia 2030 GOV.SI
52
http://www.unis.unvienna.org/unis/sl/topics/sustainable_development_goals.html#MoreInfo
100 Annual report 2023 Luka Koper Group and sustainable development guidelines
18.2.1 With its efforts, the Luka Koper Group is pursuing 14 sustainable development
goals
Development policy of the Republic
of Slovenia 2030
Sustainable Development Goals
Sustainable guidelines of the Luka
Koper Group
Protection of dignity and equal
treatment regardless of gender, age,
racial, religious, national, social,
political affiliation, marital status,
financial status, sexual orientation and
other personal circumstances.
Respect for human rights.
Healthy and safe working
environment.
Decent pay for work.
Healthy and active life of employees
and the wider community.
Doing business in accordance with the
law and high ethical standards.
Achieving good business results.
Providing competitive services with
advanced technologies.
Promoting knowledge and skills for
quality work.
Rational use of resources.
Achieving beneficial effects on the
economy.
Educating and training of employees.
Supporting the education and
employability of young people
(scholarships, work placements) and
people with disabilities, and providing
quality jobs.
Promoting lifelong learning for the
general public.
Care for the natural environment.
Sustainable management of natural
resources.
Employee health promotion.
Low-carbon circular economy.
Sustainable development of the wider
community.
Multi-stakeholder dialogue and
cooperation.
Socially responsible projects and
partnerships.
Transparency and business efficiency.
Luka Koper Group and sustainable development guidelines Annual report 2023 101
Sustainability guidelines of the Luka Koper Group are based on the United Nations sustainable development goals
and the development orientations of the Republic of Slovenia until 2030.
Sustainable development goals mainly refer to Luka Koper, d. d., however, other Group companies also pursue
them as per their areas of operation.
102 Annual report 2023 Luka Koper Group and sustainable development guidelines
MANAGING THE ENVIRONMENTAL IMPACTS OF
SUSTAINABLE DEVELOPMENT
ESG
Important reporting topics
Chapter
E – ENVIRONMENTAL
ASPECT
Waste management
19.9 Waste management
Emissions into the environment
19.8 Emissions/immission from services
19.10 Noise emissions
19.14 Light pollution
19.16 Sea water protection
19.18 Radioactivity of consignments
Fire safety
19.7 Environmental risk management and
emergency response
Resource use and climate transition
19.11 Energy use and energy efficiency
Drinking water consumption and effluents
19.12 Drinking water and groundwater
management
19.13 Wastewater management
Biodiversity
19.15 Biodiversity
STRATEGIC ORIENTATIONS OF LUKA KOPER BY ENVIRONMENTAL ASPECT
At the end of 2023, a new 2024-2028 Strategic Business Plan for Luka Koper, d. d., and the Luka Koper Group was
adopted, in which Luka Koper, d. d., set itself the objective of maintaining environmental sustainability standards
(EMAS) and meeting sustainability reporting commitments, as well as reducing the company's carbon footprint
through measures to increase energy efficiency and a greater share of renewable energy sources. A summary of
the document is published on the company's website.
Major strategic environmental projects include:
- Replacement of existing fossil-fuelled port machinery and plant with alternative, more environmentally
friendly machinery and plant;
- Construction of an onshore power supply (OPS) system;
- Construction of solar power plants (up to 10 MW).
STRATEGIC ORIENTATIONS – ENVIRONMENTAL ASPECT
1. Climate transition
o Machinery will be updated in line with the development of alternative energy propulsion
technologies.
o Refrigerants will be replaced with those containing substances that are less harmful to ozone.
o New buildings will be constructed as nearly zero-energy buildings and existing administrative
buildings will be renovated to be made more energy efficient.
o Renewable energy will be used to heat and cool the premises.
o The share of energy from renewable sources will be increased.
o Passenger vehicles for use in the port will be primarily electric.
o Advanced technologies and gauges will be used to optimise transport routes and the operation
of ground equipment.
o Resource use will be monitored continuously, and measures will be implemented to increase
energy efficiency and reduce the carbon footprint.
o Ways will be developed to use resources more efficiently.
Luka Koper Group and sustainable development guidelines Annual report 2023 103
2. Emissions into the environment
o Emissions to the environment and the state of the environment will continue to be monitored
continuously, and measurement systems and programmes will be upgraded.
o Transparent communication with stakeholders on environmental management will continue.
o Modern systems to reduce emissions to the environment will continue to be built and existing
systems will be updated in line with technological developments.
o Systems to mitigate emissions from the port will be installed or renovated in contact areas.
o The system of financial incentives for ships that cause less emissions into the environment will
be maintained and upgraded.
o An onshore power supply (OPS) system for ships will be installed.
o Light pollution will continue to be reduced by installing LED luminaires and optimising light
sources.
o A modern environmental portal will be developed to display and monitor environmental
measurements.
3. Waste management
o E-mobility will be introduced for waste collection at the port.
o Waste reduction systems and circular economy solutions will be put in place.
o New (more modern) facilities will be built to collect waste generated in the port.
4. Biodiversity
o Pollutants in the sea will continue to be monitored and measurement equipment will be
upgraded.
o The state of flora and fauna will continue to be monitored.
o Good status of water bodies will be ensured.
5. Fire safety
o An effective fire safety system will be ensured.
o Modern fire detection systems will be installed.
o The ability to intervene in the event of a disaster on land or at sea will be continuously improved.
o A new fire station will be built.
6. Marine sediment management
o Alternative options for dealing with marine sediment will continue to be explored.
o Modern techniques for dredging and relocation of sediment will be ensured.
o The quality of marine sediment will be monitored.
104 Annual report 2023 Long-term sustainability of the natural environment
19 Long-term sustainability of the
natural environment
53
Port boundaries
The port area
The Koper port is a cargo port set in an integrated marine and coastal area, where port operations related to cargo
as well as passenger transport are carried out. The port area is defined in the Concession Agreement for the
performance of port activity, management, development and regular maintenance of the port infrastructure No
2411-08-800011 of 8 Sep 2008.
The environmental part of the sustainability report covers the data of Luka Koper, d. d., operating at the site of the
port of Koper, for the period from 1 January 2023 to 31 December 2023. Where available, the results are shown for
a three-year period, whereas older data is available in the reports linked below. It also contains annual comparisons
of environmental indicators with the aim of showing environmental performance. The chapters in the sustainability
report that provide verified environmental management information are indicated by the sign
The data provide a credible and faithful reflection of the Company’s environmental management system. In March
2024, the SIQ Slovenian Institute of Quality and Metrology verified the assertions and established that the system
meets the requirements of the Regulation (EC) No 1221/2009 (EMAS).
Previous Environmental reports are available in the following links:
Živeti s pristaniščem - Poročila in dokumenti (zivetispristaniscem.si)
https://www.luka-kp.si/eng/environmental-friendly-policy
53
GRI 2-25
Long-term sustainability of the natural environment Annual report 2023 105
106 Annual report 2023 Long-term sustainability of the natural environment
19.1 Environmentally sustainable economic activities, environmentally
sustainable investments, income and expenses
EU Taxonomy Regulation
In accordance with the Taxonomy Regulation (Regulation (EU) 2020/852 of the European Parliament and of the
Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending
Regulation (EU) 2019/2088), which entered into force on 12 July 2020, and its annexes, and in accordance with
Commission Delegated Regulation 2021/2178 of 6 July 2021 supplementing the Taxonomy Regulation and the
guidelines of the Securities Market Agency (AVTP), both the Luka Koper, d. d., and the Luka Koper Group are obliged
to publish key 2023 performance indicators derived from services linked to economic activities that can be
considered sustainable. For the financial year 2023, Luka Koper, d. d., and the Luka Koper Group reports indicators
for economic activities included in the EU taxonomy.
Most of the activities of the Luka Koper Group are currently not included in the scope of Annexes I and II to
Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing the Taxonomy Regulation, nor in
the scope of Annexes I, II, III and IV to Commission Delegated Regulation (EU) 2023/2486 of 27 June 2023
supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the
technical screening criteria for determining the conditions under which an economic activity qualifies as
contributing substantially to the sustainable use and protection of water and marine resources, to the transition to
a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and
ecosystems and for determining whether that economic activity causes no significant harm to any of the other
environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific
public disclosures for those economic activities. This means that most of the activities of the Luka Koper Group are
currently not reportable under the EU taxonomy.
The EU Taxonomy, a single classification system, defines a list of economic activities that are considered
sustainable on the basis of technical criteria, in line with the EU Sustainability Objectives. The following objectives
have been set at EU level (EU Regulation 2020/852):
(a) Climate change mitigation;
(b) Adaptation to climate change;
(c) Sustainable use and protection of water and marine resources;
(d) Transition to a circular economy;
(e) Pollution prevention and control;
(f) Protection and conservation of biodiversity and ecosystems;
where only for objectives Climate change mitigation (a) and Climate change adaptation (b), a Delegated Regulation
(EU 2021/2139) has been adopted on technical screening criteria for determining the conditions under which an
economic activity qualifies as contributing substantially to climate change mitigation and adaptation and for
determining whether that economic activity causes no significant harm to any of the other environmental objectives.
At the end of 2023, this was followed by Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing
Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening
criteria for determining the conditions under which an economic activity qualifies as contributing substantially to
the sustainable use and protection of water and marine resources, to the transition to a circular economy, to
pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for
determining whether that economic activity causes no significant harm to any of the other environmental objectives
and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those
economic activities. For these reasons, Luka Koper Group reports below only those taxonomic activities that it
identified in the Delegated Regulations.
Determining the activities included in the EU taxonomy
In order to identify harmonised activities, the Luka Koper Group has carried out a comprehensive review of activities
and determined, based on the available reporting attributes, which of them can make a significant contribution to
these objectives.
While transhipment and warehousing are not identified as economic activities that significantly contribute to
climate change adaptation and mitigation or other objectives in the EU taxonomy, the Delegated Regulation
identifies a number of activities in the taxonomy, which the Luka Koper Group undertakes to adapt to and mitigate
climate change and contribute to other objectives. By virtue of its own activities, the Luka Koper Group directly
Long-term sustainability of the natural environment Annual report 2023 107
enables other activities (e. g. maritime, road and rail transport) to make a significant contribution to one or more
of the environmental objectives set out in the Delegated Regulation.
As certain activities of the companies in the Luka Koper Group are currently not yet reportable under the EU
taxonomy, the resulting shares of investments and costs are relatively small in relation to their total volume. No
taxonomy related revenue is recognised in the Luka Koper Group at this time.
Luka Koper Group will continue to upgrade its reporting system in order to ensure full disclosures in accordance
with the Taxonomy Regulation and to follow the reporting guidelines.
Recognised activities under the objective of climate change mitigation and adaptation
4.1 Electricity generation using solar photovoltaic technology
Under activity 4.1 ‘Electricity generation using solar photovoltaic technology’, the Luka Koper Group has included
the activity of construction or operation of electricity generation facilities that produce electricity using solar
photovoltaic technology, as solar power plants are being installed in line with its sustainability strategy. The
electricity generated is entirely used for own consumption and therefore the Luka Koper Group does not derive any
revenue from this activity. With regard to this activity, the Luka Koper Group reports on investments in the
construction of solar power plants. The activity fully meets the criteria for a substantial contribution to climate
change adaptation.
4.9 Transmission and distribution of electricity
The activity 4.9 ‘Transmission and distribution of electricity’ includes the activity of construction and operation of
transmission systems that transport the electricity on the high-voltage and extra high-voltage interconnected
system, and the construction and operation of distribution systems that transport electricity on high-voltage,
medium-voltage and low-voltage distribution systems, as the Luka Koper Group itself is investing in infrastructure
which will be upgraded in the future to allow the connection of cargo and passenger ships to the electricity grid
and, as a consequence, contribute significantly to the reduction of greenhouse gas emissions in the port area. In
2022 and 2023, this activity also includes the activity of installation of transmission and distribution transformers
that comply with the Tier 2 requirements (from 1 July 2021) of Annex I of Commission Regulation (EU) No 548/2014
and, medium power transformers with highest voltage for equipment not exceeding 36 kV, with AAA0 level
requirements on no-load losses set out in standard EN 50588-1, as two such systems were installed in 2022 and
2023.
5.2 Renewal of water collection, treatment and supply systems
The activity 5.2 ‘Renewal of water collection, treatment and supply systems’ includes renewals of water collection,
treatment and distribution systems and also the infrastructure for water collection, treatment and distribution for
domestic and industrial needs, since in the port area, the Luka Koper Group invests itself in drinking water supply
infrastructure and contributes to reducing water losses and mitigating climate change through continuous
upgrades. The activity fully meets the criteria for a substantial contribution to climate change adaptation.
5.5 Collection and transport of source-separated fractions of non-hazardous waste
This activity is taxonomically acceptable but not yet environmentally sustainable according to the criteria set, i.e. it
is an activity not aligned with the taxonomy.
6.2 Freight rail transport
The Activity 6.2 ‘Freight rail transport’ is not included because the Luka Koper Group does not carry out the activities
of purchasing, financing, leasing, renting and operating freight transport on mainline rail networks and short line
freight railways using trains and wagons with zero direct tailpipe CO2 emissions when operated on tracks with the
necessary infrastructure, or, where such infrastructure is not available, using a conventional engine (bimode) and
not dedicated to the transport of fossil fuels. Also not included in this activity is the activity of moving trainsets
within the port area, which are also carried out with a locomotive with zero CO2 emissions (from the tailpipe), as
these are internal movements within the port, which are not considered as short line freight transport.
6.5. Transport by motorbikes, passenger cars and light commercial vehicles
The activity covers the purchase, financing, rental, leasing and operation of vehicles classified in categories M1
(232) and N1 (233), which fall within the scope of Regulation (EC) No 715/2007 of the European Parliament and of
the Council (234), or in category L (two- and three-wheel vehicles and quadricycles) (235). Electric vehicles and
electric scooters were purchased in 2023. The activity fully meets the criteria for a significant contribution to climate
change mitigation, as it produces 0 kgCO2e/km.
108 Annual report 2023 Long-term sustainability of the natural environment
6.6 Freight transport services by road
The Luka Koper Group does not report the activity 6.6 ‘Freight transport services by road’. Although the Luka Koper
Group purchases, finances, leases, rents and operates vehicles classified as N1, N2 or N3, which fall within the
scope of EURO VI, step E or its successor, the Luka Koper Group does not carry out transport with these vehicles
by roads, only within the port (worksite) where there are no categorised roads.
6.10 Sea and coastal freight water transport, vessels for port operations and auxiliary activities
The Luka Koper Group does not report activities 6.10 ‘Sea and coastal freight water transport, vessels for port
operations and auxiliary activities’ because it does not carry out any activities of purchase, financing, chartering
(with or without crew) and operation of vessels designed and equipped for transport of freight or for the combined
transport of freight and passengers on sea or coastal waters, whether scheduled or not, and does not carry out the
purchase, financing, renting and operation of vessels required for port operations and auxiliary activities, such as
tugboats, mooring vessels, pilot vessels, salvage vessels and ice-breakers. While the Luka Koper Group has
mooring vessels, they do not have zero direct CO2 (tailpipe) emissions or hybrid propulsion.
6.16. Infrastructure enabling low carbon water transport
The Activity 6.16 ‘Infrastructure enabling low carbon water transport’ includes the construction, modernisation,
operation and maintenance of infrastructure that is required for zero tailpipe CO2 operation of vessels or the port’s
own operations, as well as infrastructure dedicated to transhipment with zero CO2 (tailpipe) emissions. Under this
activity, the Luka Koper Group has included infrastructure designed for the operation of vessels with zero direct
tailpipe CO2 emissions, i. e. infrastructure intended for electrical power supply and hydrogen refuelling.
Infrastructure has been built in the port area to provide electrical power to tug vessels, electric RTGs at the
Container Terminal and ship-to-shore cranes. In 2022, two electric ship-to-shore super postpanamax STS cranes
and 3 electric RTG cranes were procured, representing equipment for the handling of cargo between different
modes of transport, terminal infrastructure and superstructures for loading, unloading and handling of goods with
zero CO2 emissions (from the tailpipe). The annual maintenance costs of the port machinery and the transport
systems with zero CO2 emissions are also shown. The activity fully meets the criteria for a substantial contribution
to climate change mitigation.
7.3 Installation, maintenance and repair of energy efficient equipment
The activity 7.3 ‘Installation, maintenance and repair of energy efficient equipment’ includes individual renovation
measures comprising installation, maintenance or repair of energy efficiency equipment. Economic activities in this
category include one of the following individual measures provided that they comply with minimum requirements
set for individual components and systems in the applicable national measures implementing Directive 2010/31/EU
and, where applicable, are rated in the highest two populated classes of energy efficiency in accordance with
Regulation (EU) 2017/1369 and delegated acts adopted under that Regulation:
(a) addition of insulation to existing envelope components, such as external walls (including green walls),
roofs (including green roofs), lofts, basements and ground floors (including measures to ensure air-
tightness, measures to reduce the effects of thermal bridges and scaffolding) and products for the
application of the insulation to the building envelope (including mechanical fixings and adhesive);
(b) replacement of existing windows with new energy efficient windows;
(c) replacement of existing external doors with new energy efficient doors;
(d) installation and replacement of energy efficient light sources;
(e) installation, replacement, maintenance and repair of heating, ventilation and air-conditioning (HVAC)
and water heating systems, including equipment related to district heating services, with highly efficient
technologies;
(f) installation of low water and energy using kitchen and sanitary water fittings which comply with
technical specifications set out in Appendix A to Annex I, in case of shower solutions, mixer showers,
shower outlets and taps, have a max water flow of 6 L/min or less attested by an existing label in the Union
market.
In 2022, the equipment in the internal rail transport facility was upgraded and activities d, e and f were carried out.
In 2023, energy-efficient light sources were installed and replaced, and ventilation, heating and cooling systems
were upgraded.
Long-term sustainability of the natural environment Annual report 2023 109
7.4.Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces
attached to buildings)
The set of activities includes the installation, maintenance and repair of electric vehicle charging stations in
buildings (and in parking spaces attached to buildings), which we implemented in 2023 in some areas of the port.
The activity fully meets the criteria for a substantial contribution to climate change mitigation.
7.7 Acquisition and ownership of buildings
This activity is taxonomically acceptable, but not yet environmentally sustainable according to the criteria set, as
these buildings are not classified in efficiency class A, so it is an activity not aligned with the taxonomy.
Identified activities under the objectives of sustainable use and protection of water and marine resources,
transition to a circular economy, pollution prevention and control and protection and conservation of
biodiversity and ecosystems
Based on the criteria set out, we have identified only one activity that makes a significant contribution to the
objective from what is included in Annex III of Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing
Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening
criteria for determining the conditions under which an economic activity qualifies as contributing substantially to
the sustainable use and protection of water and marine resources, to the transition to a circular economy, to
pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for
determining whether that economic activity causes no significant harm to any of the other environmental objectives
and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those
economic activities.
2.3 Collection and transport of hazardous waste
The activities include separate collection and transport of non-hazardous and hazardous waste aimed at preparing
for re-use or recycling, including the construction, operation and upgrade of facilities involved in the collection and
transport of such waste, such as civic amenity centres and waste transfer stations, as a means for material
recovery. Under this heading we show net turnover, capital expenditure (CAPEX) and operating expenses (OPEX)
for the separate collection and transport of hazardous waste activity, as we have already shown the non-hazardous
waste collection and transport activity under the identified activity.
5.5 Collection and transport of source-separated fractions of non-hazardous waste
We estimate that the activity significantly contributes to the transition to a circular economy, as waste is collected
separately by fraction in the port, reused or recycled, the quantity and quality of waste is continuously monitored
and assessed, and reported to stakeholders. he activity does not hinder the achievement of a good environmental
condition of sea waters or does not deteriorate sea waters that are already in a good environmental condition, which
is established on the basis of the measurements carried out.
Key performance indicators
Key performance indicators derived from products or services related to the economic activities included in the
taxonomy have been calculated for both Luka Koper d. d. and the Luka Koper Group, namely for net sales revenue,
capital expenditures (CAPEX) and operating expenses (OPEX).
The understanding of the approach used in the directives related to the EU Taxonomy is still subject to some
uncertainties of interpretation, which could lead to changes in reporting when the EU subsequently clarifies it.
There is a risk that key performance indicators presented as Taxonomy-aligned may need to be assessed
differently. Our understanding is given below.
Key performance indicators for net sales revenue of Luka Koper, d. d.
The denominator of the calculated indicators takes into account the net sales revenue of Luka Koper, d. d., which
amounted to EUR 309.3 million in 2023. The net sales revenue of Luka Koper d. d. is presented in the accounting
part of the report in item 30.1 ‘Income statement’ and described in item 33 ‘Additional notes to the income
statement’ in Note 1 ‘Net sales revenue’.
In the numerator of the calculated indicators, under net sales revenue for the activity of collection and transport of
hazardous waste (NACE 38.11, E38.12 and F42.9), only the revenue recorded at cost items SM 6655 Land-based
waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Wastewater treatment recorded
110 Annual report 2023 Long-term sustainability of the natural environment
on the basis of the services directly attributable to this activity is taken into account, and the remaining revenue is
recorded based on hazardous waste collected in the total quantity of waste collected; for the activities of collection
and transport of fractions of non-hazardous waste separated at source (NACE E38.11), only the revenue recorded
at cost item SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM
6670 Waste water treatment recorded on the basis of services directly attributable to this activity is taken into
account, and the remaining revenue is recorded on the basis non-hazardous waste collected in the total amount of
waste collected; and the activity of purchase and ownership of buildings (NACE L68) only takes into account the net
sales revenue recorded on the basis of the manual records of revenue in the rent accounts and cost centres related
to investment property shown in Note 13: ‘Investment property’. Each accounting document recorded in the SAP IT
system can only be assigned to one cost centre and account, which allows us to avoid double counting.
Net sales revenue from environmentally sustainable Taxonomy-aligned activities amounted to EUR 0.5 million in
2023, or 0.2 percent of total net sales. This was contributed by the activity of collection and transport of fractions of
hazardous waste (NACE 38.11, E38.12 and F42.9).
Net sales revenue from activities that are Taxonomy-eligible but are not environmentally sustainable (non-
Taxonomy-aligned) amounted to EUR 2 million in 2023, or 0.6 percent of total net sales. Collection and transport of
source-separated fractions of non-hazardous waste (NACE E38.11) contributed EUR 0.7 million or 0.2 percent of
total net sales revenue. The activity of acquisition and ownership of buildings (NACE L68) contributed EUR 1.3
million or 0.4 percent of the total net sales, which is shown in the accounting part of the report in Note 13
‘Investment property’.
Net sales revenue from activities that are Taxonomy-eligible amounted to EUR 2.5 million in 2023, or 0.8 percent
of total net sales.
Net sales revenue from activities that are Taxonomy-non-eligible amounted to EUR 306.8 million in 2023, or 99.2
percent of total net sales.
Key performance indicators for capital expenditure (CAPEX) of Luka Koper, d. d.
The denominator of the calculated indicators takes into account the capital expenditure of Luka Koper, d. d., which
amounted to EUR 41.3 million in 2023. Capital expenditure (CAPEX) of Luka Koper d. d. is presented in the
accounting part of the report, Note 12 ‘Property, plant and equipment’ and Note 14 ‘Intangible assets’.
The numerator of the calculated indicators takes into account the capital expenditure (CAPEX) allocated to each of
the identified taxonomic activities based on the recorded value of each investment in the PPM Clarity investment
management information system, where each investment is assigned a single investment number, and
environmentally sustainable investments are additionally marked as OIP - Operational Improvement Programme.
All investments marked as OIP were reviewed and linked to only one Taxonomy activity, and an additional 5
investments not marked as OIP were linked to each of the identified Taxonomy activities. This helped the company
to avoid double counting.
Capital expenditure (CAPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 1
million in 2023, or 2.4 percent of total capital expenditure (CAPEX). Collection and transport of hazardous waste
(NACE E38.11, E38.12 and F42.9) contributed EUR 0.2 million or 0.5 percent of the total capital expenditure (CAPEX).
Generation of energy using photovoltaic technology (NACE D35.11 and F42.22) contributed EUR 0.4 million, or 1.0
percent of total capital expenditure (CAPEX). The electricity transmission and distribution activity (NACE D35.12
and D35.13) contributed EUR 0.04 million or 0.1 percent of total capital expenditure (CAPEX). The transport by
motorcycles, passenger cars and light commercial vehicles (NACE H49.32, H49.39 and N77.11) contributed EUR 0.1
million or 0.2 percent of total capital expenditure (CAPEX). The activity of installation, maintenance and repair of
energy efficient equipment (NACE F42, F43, M71, C16, C17, C22, C23, C25, C27, C28, S95.21, S95.22 or C33.12)
contributed EUR 0.2 million or 0.5 percent of total capital expenditure (CAPEX). The activity of installation,
maintenance and repair of charging stations for electric vehicles in buildings (and in parking spaces attached to
buildings) (F42, F43, M71, C16, C17, C22, C23, C25, C27 or C28) contributed EUR 0.04 million or 0.1 percent of total
capital expenditure (CAPEX). The data is shown in the accounting part of the report in Note 12 ‘Property, plant and
equipment’.
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not
aligned with the Taxonomy) amounted to EUR 0.05 million in 2023, or 0.1 percent of total capital expenditure
(CAPEX). This was contributed by acquisition and ownership of buildings (NACE L68), which is shown in the
accounting part of the report in Note 13 ‘Investment property’.
Long-term sustainability of the natural environment Annual report 2023 111
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible amounted to EUR 1.03 million in 2023, or
2.5 percent of total capital expenditure (CAPEX).
Capital expenditure (CAPEX) from activities that are Taxonomy non-eligible amounted to EUR 40.3 million in 2023,
or 97.5 percent of total capital expenditure (CAPEX).
Key performance indicators for operating expenses (OPEX) of Luka Koper, d. d.
The denominator of the calculated indicators takes into account the operating expenses (OPEX) of Luka Koper, d.
d., namely the cost of spare parts and maintenance services and costs related to waste collection, which amounted
to EUR 19.9 million in 2023. The operating expenses (OPEX) of Luka Koper d. d. are presented in the accounting
part of the report, in Note 4 ‘Cost of material’ and Note 5 ‘Cost of services’.
The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the
hazardous waste collection and transport activities (NACE E38.11, E38.12 and F42.9) on the basis of the costs
recorded in cost centres SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels
and SM 6670 Wastewater treatment, recorded based on the hazardous waste collected in the total amount of waste
collected. The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated
to the activity of renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) on
the basis of the accounting documents recorded in the four internal maintenance orders and the cost accounts for
spare parts and maintenance services in the SAP information system. The numerator of the calculated indicators
takes into account the operating expenses (OPEX) allocated to the activity of infrastructure to enable low-carbon
transport on waterways (NACE F42.91, F71.1 or F71.20) on the basis of the accounting documents recorded in
internal maintenance orders and the cost accounts for spare parts and maintenance services in the SAP
information system. The costs of only those technical sites where it was possible to connect infrastructure,
machinery and transport systems enabling zero CO2 emissions were selected. For the activity of purchase and
ownership of buildings (NACE L68), operating expenses (OPEX) are taken into account on the basis of the manual
cost records in the rent and cost centre accounts related to investment property shown in Note 13: ‘Investment
property’. Each accounting document recorded in the SAP IT system can only be assigned to one cost centre and
account, which allows us to avoid double counting.
Operating expenses (OPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 4.8
million in 2023, or 24.1 percent of total operating expenses (OPEX). Collection and transport of hazardous waste
(NACE E38.11, E38.12 and F42.9) contributed EUR 0.8 million or 4 percent of the total operating expenses (OPEX).
Renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) contributed EUR 0.9
million, or 4.5 percent of total operating expenses (OPEX). Infrastructure enabling low carbon water transport
(NACE F42.91, F71.1 or F71.20) contributed EUR 3.1 million or 15.6 percent of total operating expenses (OPEX). The
data is shown in the accounting part of the report in Note 5 ‘Cost of services’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not
aligned with the taxonomy) amounted to EUR 1.1 million in 2023, or 5.5 percent of total operating expenses (OPEX).
The activity of collection and transport of source-separated fractions of non-hazardous waste (NACE E38.11)
contributed EUR 0.5 million or 2.5 percent of total operating expenses (OPEX). The activity of acquisition and
ownership of buildings (NACE L68) contributed EUR 0.6 million or 3 percent of the total operating expenses (OPEX),
which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible amounted to EUR 5.9 million in 2023, or 29.6
percent of total operating expenses (OPEX).
Operating expenses (OPEX) from activities that are taxonomy non-eligible amounted to EUR 14.0 million in 2023, or
70.4 percent of total capital expenditure (CAPEX).
Key performance indicators for net sales revenue of the Luka Koper Group
The denominator of the calculated indicators takes into account the net sales revenue of the Luka Koper Group,
which amounted to EUR 312.8 million in 2023. The net sales revenue of the Luka Koper Group is presented in the
accounting part of the report in item 30.1 ‘Income statement’ and described in item 33 ‘Additional notes to the
income statement’ in Note 1 ‘Net sales revenue’.
In the numerator of the calculated indicators, under net sales revenue for the activity of collection and transport of
hazardous waste (NACE 38.11, E38.12 and F42.9), only the revenue recorded at cost items SM 6655 Land-based
waste, SM 6660 public utility service of collecting waste from vessels and SM 6670 Wastewater treatment recorded
112 Annual report 2023 Long-term sustainability of the natural environment
on the basis of the services directly attributable to this activity is taken into account, and the remaining revenue is
recorded based on hazardous waste collected in the total quantity of waste collected; for the activities of collection
and transport of fractions of non-hazardous waste separated at source (NACE E38.11), only the revenue recorded
at cost item SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from vessels and SM
6670 Waste water treatment recorded on the basis of services directly attributable to this activity is taken into
account, and the remaining revenue is recorded on the basis non-hazardous waste collected in the total amount of
waste collected; and the activity of purchase and ownership of buildings (NACE L68) only takes into account the net
sales revenue recorded on the basis of the manual records of revenue in the rent accounts and cost centres related
to investment property shown in Note 13: ‘Investment property’. Each accounting document recorded in the SAP IT
system can only be assigned to one cost centre and account, which allows us to avoid double counting.
Net sales revenue from environmentally sustainable Taxonomy-aligned activities amounted to EUR 0.5 million in
2023, or 0.2 percent of total net sales. This was contributed by the activity of collection and transport of fractions of
hazardous waste (NACE 38.11, E38.12 and F42.9).
Net sales revenue from activities that are Taxonomy-eligible but are not environmentally sustainable (not aligned
with the taxonomy) amounted to EUR 1.5 million in 2023, or 0.5 percent of total net sales. Collection and transport
of source-separated fractions of non-hazardous waste (NACE E38.11) contributed EUR 0.7 million or 0.2 percent of
total net sales revenue. The activity of acquisition and ownership of buildings (NACE L68) contributed EUR 0.8
million or 0.3 percent of the total net sales, which is shown in the accounting part of the report in Note 13
‘Investment property’.
Net sales revenue from activities that are Taxonomy-eligible amounted to EUR 2 million in 2023, or 0.6 percent of
total net sales.
Net sales revenue from activities that are Taxonomy-non-eligible amounted to EUR 310.8 million in 2023, or 99.4
percent of total net sales.
Key performance indicators for capital expenditure (CAPEX) of the Luka Koper Group
The denominator of the calculated indicators takes into account the capital expenditure (CAPEX) of the Luka Koper
Group which amounted to EUR 41.5 million in 2023. Capital expenditure (CAPEX) of the Luka Koper Group is
presented in the accounting part of the report, Note 12 ‘Property, plant and equipment’ and Note 14 ‘Intangible
assets’.
The numerator of the calculated indicators takes into account the capital expenditure (CAPEX) allocated to each of
the identified taxonomic activities based on the recorded value of each investment in the PPM Clarity investment
management information system, where each investment is assigned a single investment number, and
environmentally sustainable investments are additionally marked as OIP - Operational Improvement Programme.
All investments marked as OIP were reviewed and linked to only one Taxonomy activity, and an additional 5
investments not marked as OIP were linked to each of the identified Taxonomy activities. This helped the company
to avoid double counting.
Capital expenditure (CAPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 1
million in 2023, or 2.4 percent of total capital expenditure (CAPEX). Collection and transport of hazardous waste
(NACE E38.11, E38.12 and F42.9) contributed EUR 0.2 million or 0.5 percent of the total capital expenditure (CAPEX).
Generation of energy using photovoltaic technology (NACE D35.11 and F42.22) contributed EUR 0.4 million, or 1.0
percent of total capital expenditure (CAPEX). The electricity transmission and distribution activity (NACE D35.12
and D35.13) contributed EUR 0.04 million or 0.1 percent of total capital expenditure (CAPEX). The transport by
motorcycles, passenger cars and light commercial vehicles (NACE H49.32, H49.39 and N77.11) contributed EUR 0.1
million or 0.2 percent of total capital expenditure (CAPEX). The activity of installation, maintenance and repair of
energy efficient equipment (NACE F42, F43, M71, C16, C17, C22, C23, C25, C27, C28, S95.21, S95.22 or C33.12)
contributed EUR 0.2 million or 0.5 percent of total capital expenditure (CAPEX). The activity of installation,
maintenance and repair of charging stations for electric vehicles in buildings (and in parking spaces attached to
buildings) (F42, F43, M71, C16, C17, C22, C23, C25, C27 or C28) contributed EUR 0.04 million or 0.1 percent of total
capital expenditure (CAPEX). The data is shown in the accounting part of the report in Note 12 ‘Property, plant and
equipment’.
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not
aligned with the Taxonomy) amounted to EUR 0.05 million in 2023, or 0.1 percent of total capital expenditure
(CAPEX). This was contributed by acquisition and ownership of buildings (NACE L68), which is shown in the
accounting part of the report in Note 13 ‘Investment property’.
Long-term sustainability of the natural environment Annual report 2023 113
Capital expenditure (CAPEX) from activities that are Taxonomy-eligible amounted to EUR 1.03 million in 2023, or
2.5 percent of total capital expenditure (CAPEX).
Capital expenditure (CAPEX) from activities that are Taxonomy non-eligible amounted to EUR 40.5 million in 2023,
or 97.5 percent of total capital expenditure (CAPEX).
Key performance indicators for operating expenses (OPEX) of the Luka Koper Group
The denominator of the calculated indicators takes into account the operating expenses (OPEX) of the Luka Koper
Group, namely the cost of spare parts and maintenance services and costs related to waste collection, which
amounted to EUR 19.9 million in 2023. The operating expenses (OPEX) of the Luka Koper Group are presented in
the accounting part of the report, in Note 4 ‘Cost of material’ and Note 5 ‘Cost of services’.
The numerator of the calculated indicators takes into account the operating expenses (OPEX) allocated to the
hazardous waste collection and transport activities (NACE E38.11, E38.12 and F42.9) on the basis of allocating the
costs recorded in cost centres SM 6655 Land-based waste, SM 6660 public utility service of collecting waste from
vessels and SM 6670 Wastewater treatment, recorded based on the hazardous waste collected in the total amount
of waste collected. The numerator of the calculated indicators takes into account the operating expenses (OPEX)
allocated to the activity of renovation of water collection, treatment and distribution systems (NACE E36.00 and
F42.99) on the basis of the accounting documents recorded in the four internal maintenance orders and the cost
accounts for spare parts and maintenance services in the SAP information system. The numerator of the calculated
indicators takes into account the operating expenses (OPEX) allocated to the activity of infrastructure to enable
low-carbon transport on waterways (NACE F42.91, F71.1 or F71.20) on the basis of the accounting documents
recorded in internal maintenance orders and the cost accounts for spare parts and maintenance services in the
SAP information system. The costs of only those technical sites where it was possible to connect infrastructure,
machinery and transport systems enabling zero CO2 emissions were selected. For the activity of purchase and
ownership of buildings (NACE L68), operating expenses (OPEX) are taken into account on the basis of the manual
cost records in the rent and cost centre accounts related to investment property shown in Note 13: ‘Investment
property’. Each accounting document recorded in the SAP IT system can only be assigned to one cost centre and
account, which allows us to avoid double counting.
Operating expenses (OPEX) from environmentally sustainable Taxonomy-aligned activities amounted to EUR 5
million in 2023, or 25.1 percent of total operating expenses (OPEX). Collection and transport of hazardous waste
(NACE E38.11, E38.12 and F42.9) contributed EUR 1 million or 5 percent of the total operating expenses (OPEX).
Renovation of water collection, treatment and distribution systems (NACE E36.00 and F42.99) contributed EUR 0.9
million, or 4.5 percent of total operating expenses (OPEX). Infrastructure enabling low carbon water transport
(NACE F42.91, F71.1 or F71.20) contributed EUR 3.1 million or 15.6 percent of total operating expenses (OPEX). The
data is shown in the accounting part of the report in Note 5 ‘Cost of services’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible but not environmentally sustainable (not
aligned with the taxonomy) amounted to EUR 1.2 million in 2023, or 6 percent of total operating expenses (OPEX).
The activity of collection and transport of source-separated fractions of non-hazardous waste (NACE E38.11)
contributed EUR 0.6 million or 3 percent of total operating expenses (OPEX). The activity of acquisition and
ownership of buildings (NACE L68) contributed EUR 0.6 million or 3 percent of the total operating expenses (OPEX),
which is shown in the accounting part of the report in Note 13 ‘Investment property’.
Operating expenses (OPEX) from activities that are Taxonomy-eligible amounted to EUR 6.2 million in 2023, or 31.2
percent of total operating expenses (OPEX).
Operating expenses (OPEX) from activities that are Taxonomy non-eligible amounted to EUR 13.7 million in 2023,
or 68.8 percent of total capital expenditure (CAPEX).
114 Annual report 2023 Long-term sustainability of the natural environment
Luka Koper, d. d.
Proportion of net sales revenue related to Taxonomy-aligned economic activities - disclosure by Luka Koper d. d., for the year 2023 with comparison to 2022, for the achievement of all
goals
/ The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned
- not relevant
# The Code constitutes the abbreviation of the relevant objective to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective,
i.e.:
- Climate change mitigation: CCM;
- Climate Change Adaptation: CCA;
- Water and Marine Resources: WTR;
- Circular Economy: CE;
- Pollution Prevention and Control: PPC;
- Biodiversity and ecosystems: BIO
Luka Koper, d. d.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Economic Activities Code #
Absolute
turnover
Proportion of
turnover
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Minimum
Safeguards
Taxonomy
aligned
proportion of
total
turnover
2023
Taxonomy
aligned
proportion of
total
turnover
2022
Category
(enabling
activity)
Category
(transitional
activity)
EUR million % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % % E T
A TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-
aligned)
2.3 Collection and transport of non-hazardous and
hazardous waste
KG 2.3.
NACE: E38.11,
E38.12, F42.9
0,5 0,2% N/EL N/EL N/EL 100,0% N/EL N/EL N/A Y Y _ Y N/A Y 0,2% /
Turnover of environmentally sustainable activities
(Taxonomy-aligned) (A.1)
0,5 0,2% 0,2% /
A.2 Taxonomy-Eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
5.5 Collection and transport of non-hazardous waste in
source segregated fractions
BPS 5.5
NACE: E38.11
0,7 0,2%
7.7 Acquisition and ownership of buildings
BPS and PPS 7.7
HACE: L68
1,3 0,4%
Turnover of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
(A.2)
2,0 0,6%
Total (A.1+A.2) 2,5 0,8% 0,2% /
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Turnover of Taxonomy-non-eligible activities 306,8 99,2%
Total (A+ B) 309,3 100,0%
Substantial Contribution Criteria
DNSH criteria (Does Not Significantly Harm)
Long-term sustainability of the natural environment Annual report 2023 115
Proportion of capital expenditure (CAPEX) related to Taxonomy-aligned economic activities - disclosure by Luka Koper d. d. for the year 2023 with comparison to 2022, for the achievement
of all goals
/
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned
- not relevant
# The Code constitutes the abbreviation of the relevant objective to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective,
i.e.:
- Climate change mitigation: CCM;
- Climate Change Adaptation: CCA;
- Water and Marine Resources: WTR;
- Circular Economy: CE;
- Pollution Prevention and Control: PPC;
- Biodiversity and ecosystems: BIO
Luka Koper, d. d.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Economic Activities Code #
Absolute
turnover
Proportion of
turnover
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Minimum
Safeguards
Taxonomy
aligned
proportion of
total
turnover
2023
Taxonomy
aligned
proportion of
total
turnover
2022
Category
(enabling
activity)
Category
(transitional
activity)
EUR million % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % % E T
A TAXONOMY-ELIGIBLE ACTIVITIES
A.1. CapEx of environmentally sustainable activities
(Taxonomy-aligned)
2.3 Collection and transport of non-hazardous and
hazardous waste
KG 2.3,
NACE: E38.11,
E38.12, F42.9
0,2 0,5% N/EL N/EL N/EL 100,0% N/EL N/EL N/A Y Y
_
Y N/A Y 0,5% /
4.1 Electricity generation using solar photovoltaic
technology
PPS 4.1.
NACE: D35.11
and F42.22
0,4 1,0% N/EL 100,0% N/EL N/EL N/EL N/EL N/A _ N/A Y N/A Y Y 1,0% 1,0%
4.9 Transmission and distribution of electricity
PPS 4.9.
NACE: D35.12
and D35.13
0,04 0,1% N/EL 100,0% N/EL N/EL N/EL N/EL N/A _ N/A Y Y Y Y 0,1% 0,1% E
6.5 Transport by motorbikes, passenger cars and light
commercial vehicles
BPS 6.5.
NACE: H49.32,
H49.39 and
N77.11
0,1 0,2% 100,0% N/El N/EL N/EL N/EL N/EL
_
Y N/A Y Y N/A Y 0,2% / T
6.16 Infrastructure enabling low carbon water transport
BPS 6.16.
NACE: F42.91,
F71.1 or F71.20
0 0 100,0% N/El N/EL N/EL N/EL N/EL
_
Y Y Y Y Y Y 0 50,0% E
7.3 Installation, maintenance and repair of energy efficiency
equipment
BPS7.3.
NACE:F42, F43,
M71, C16, C17,
C22, C23, C25,
C27, C28,
S95.21, S95.22
or C33.12
0,2 0,5% 100,0% N/EL N/EL N/EL N/EL N/EL _ Y N/A N/A Y N/A Y 0,5% 0,4% E
7.4 Installation, maintenance and repair of charging
stations for electric vehicles in buildings (and parking
spaces attached to buildings)
BPS 7.4.
NACE: F42, F43,
M71, C16, C17,
C22, C23, C25,
C27 or C28
0,04 0,1% 100,0% N/EL N/EL N/EL N/EL N/EL _ Y N/A N/A N/A N/A Y 0,1% 0 E
CapEx of environmentally sustainable activities
(Taxonomy-aligned) (A.1)
1,0 2,4% 2,4% 51,5%
A.2 Taxonomy-Eligible but not environmentally
sustainable activities (not Taxonomy-aligned)
7.7 Acquisition and ownership of buildings
BPS or PPS 7.7
HACE: L68
0,05 0,1%
CapEx of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
(A.2)
0,05 0,1%
Total (A.1+A.2) 1,03 2,5% 2,4% 51,5%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Capex of Taxonomy-non-eligible activities 40,3 97,5%
Tot al (A+ B) 41,3 100,0%
Substantial Contribution Criteria
DNSH criteria (Does Not Significantly Harm)
116 Annual report 2023 Long-term sustainability of the natural environment
Proportion of operating expenses (OPEX) related to Taxonomy-aligned economic activities - disclosure by Luka Koper d. d. for the year 2023 with comparison to 2022, for the achievement
of all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned
- not relevant
# The Code constitutes the abbreviation of the relevant objective to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective,
i.e.:
- Climate change mitigation: CCM;
- Climate Change Adaptation: CCA;
- Water and Marine Resources: WTR;
- Circular Economy: CE;
- Pollution Prevention and Control: PPC;
- Biodiversity and ecosystems: BIO
Luka Koper, d. d.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Economic Activities Code #
Absolute
turnover
Proportion of
turnover
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Minimum
Safeguards
Taxonomy
aligned
proportion of
total
turnover
2023
Taxonomy
aligned
proportion of
total
turnover
2022
Category
(enabling
activity)
Category
(transitional
activity)
EUR million % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % % E T
A TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-
aligned)
2.3 Collection and transport of non-hazardous and
hazardous waste
KG 2.3,
NACE: E38.11,
E38.12, F42.9
0,8 4,0% N/EL N/EL N/EL 100,0% N/EL N/EL N/A Y Y _ Y N/A Y 4,0% /
5.2 Renewal of water collection, treatment and supply
systems
PPS 5.2.
NACE: E36.00
and F42.99
0,9 4,5% N/EL 100,0% N/EL N/EL N/EL N/EL N/A
_
Y N/A N/A Y Y 4,5% 3,8%
6.16 Infrastructure enabling low carbon water transport
BPS 6.16.
NACE: F42.91,
F71.1 or
F71.20
3,1 15,6% 100,0% N/El N/EL N/EL N/EL N/EL
_
Y Y Y Y Y Y 15,6% 10,1% O
OpEx of environmentally sustainable activities (Taxonomy-
aligned) (A.1)
4,8 24,1% 24,1% 13,9%
A.2 Taxonomy-Eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
5.5 Collection and transport of non-hazardous waste in
source segregated fractions
BPS 5.5
NACE: E38.11
0,5 2,5%
7.7 Acquisition and ownership of buildings
BPS and PPS
7.7
HACE: L68
0,6 3,0%
OpEx of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
(A.2)
1,1 5,5%
Total (A.1+A.2) 5,9 29,6% 24,1% 13,9%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
OpEx of Taxonomy-non-eligible activities 14,0 70,4%
Total (A+B) 19,9 100,0%
Substantial Contribution Criteria
DNSH criteria (Does Not Significantly Harm)
Long-term sustainability of the natural environment Annual report 2023 117
Luka Koper Group
Proportion of net sales revenue related to Taxonomy-aligned economic activities - disclosure by the Luka Koper Group for the year 2023 with comparison to 2022, for the achievement of
all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned
- not relevant
# The Code constitutes the abbreviation of the relevant objective to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective,
i.e.:
- Climate change mitigation: CCM;
- Climate Change Adaptation: CCA;
- Water and Marine Resources: WTR;
- Circular Economy: CE;
- Pollution Prevention and Control: PPC;
- Biodiversity and ecosystems: BIO
Luka Koper Group
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Economic Activities Code #
Absolute
turnover
Proportion of
turnover
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Minimum
Safeguards
Taxonomy
aligned
proportion of
total
turnover
2023
Taxonomy
aligned
proportion of
total
turnover
2022
Category
(enabling
activity)
Category
(transitional
activity)
EUR million % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % % E T
A TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-
aligned)
2.3 Collection and transport of non-hazardous and
hazardous waste
KG 2.3.
NACE: E38.11,
E38.12, F42.9
0,5 0,2% N/EL N/EL N/EL 100,0% N/EL N/EL N/A Y Y _ Y N/A Y 0,2% /
Turnover of environmentally sustainable activities
(Taxonomy-aligned) (A.1)
0,5 0,2% 0,2% /
A.2 Taxonomy-Eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
5.5 Collection and transport of non-hazardous waste in
source segregated fractions
BPS 5.5
NACE: E38.11
0,7 0,2%
7.7 Acquisition and ownership of buildings
BPS and PPS
7.7
HACE: L68
0,8 0,3%
Turnover of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
(A.2)
1,5 0,5%
Total (A.1+A.2) 2,0 0,6% 0,2% /
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Turnover of Taxonomy-non-eligible activities 310,8 99,4%
Total (A+B) 312,8 100,0%
Substantial Contribution Criteria
DNSH criteria (Does Not Significantly Harm)
118 Annual report 2023 Long-term sustainability of the natural environment
Proportion of capital expenditure (CAPEX) related to Taxonomy-aligned economic activities - disclosure by the Luka Koper Group for the year 2023 with comparison to 2022, for the
achievement of all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned
- not relevant
# The Code constitutes the abbreviation of the relevant objective to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective,
i.e.:
- Climate change mitigation: CCM;
- Climate Change Adaptation: CCA;
- Water and Marine Resources: WTR;
- Circular Economy: CE;
- Pollution Prevention and Control: PPC;
- Biodiversity and ecosystems: BIO
Luka Koper Group
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Economic Activities Code #
Absolute
turnover
Proportion of
turnover
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Minimum
Safeguards
Taxonomy
aligned
proportion of
total
turnover
2023
Taxonomy
aligned
proportion of
total
turnover
2022
Category
(enabling
activity)
Category
(transitional
activity)
EUR million % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % % E T
A TAXONOMY-ELIGIBLE ACTIVITIES
A.1. CapEx of environmentally sustainable activities
(Taxonomy-aligned)
2.3 Collection and transport of non-hazardous and
hazardous waste
KG 2.3,
NACE: E38.11,
E38.12, F42.9
0,2 0,5% N/EL N/EL N/EL 100,0% N/EL N/EL N/A Y Y
_
Y N/A Y 0,5% /
4.1 Electricity generation using solar photovoltaic
technology
PPS 4.1.
NACE: D35.11
and F42.22
0,4 1,0% N/EL 100,0% N/EL N/EL N/EL N/EL N/A _ N/A Y N/A Y Y 1,0% 1,0%
4.9 Transmission and distribution of electricity
PPS 4.9.
NACE: D35.12
and D35.13
0,04 0,1% N/EL 100,0% N/EL N/EL N/EL N/EL N/A _ N/A Y Y Y Y 0,1% 0,1% E
6.5 Transport by motorbikes, passenger cars and light
commercial vehicles
BPS 6.5.
NACE: H49.32,
H49.39 and
N77.11
0,1 0,2% 100,0% N/El N/EL N/EL N/EL N/EL
_
Y N/A Y Y N/A Y 0,2% / T
6.16 Infrastructure enabling low carbon water transport
BPS 6.16.
NACE: F42.91,
F71.1 or F71.20
0 0 100,0% N/El N/EL N/EL N/EL N/EL
_
Y Y Y Y Y Y 0 50,0% E
7.3 Installation, maintenance and repair of energy efficiency
equipment
BPS7.3.
NACE:F42, F43,
M71, C16, C17,
C22, C23, C25,
C27, C28,
S95.21, S95.22
or C33.12
0,2 0,5% 100,0% N/EL N/EL N/EL N/EL N/EL _ Y N/A N/A Y N/A Y 0,5% 0,4% E
7.4 Installation, maintenance and repair of charging
stations for electric vehicles in buildings (and parking
spaces attached to buildings)
BPS 7.4.
NACE: F42, F43,
M71, C16, C17,
C22, C23, C25,
C27 or C28
0,04 0,1% 100,0% N/EL N/EL N/EL N/EL N/EL _ Y N/A N/A N/A N/A Y 0,1% 0 E
CapEx of environmentally sustainable activities
(Taxonomy-aligned) (A.1)
1,0 2,4% 2,4% 51,5%
A.2 Taxonomy-Eligible but not environmentally
sustainable activities (not Taxonomy-aligned)
7.7 Acquisition and ownership of buildings
BPS or PPS 7.7
HACE: L68
0,05 0,1%
CapEx of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
(A.2)
0,05 0,1%
Total (A.1+A.2) 1,03 2,5% 2,4% 51,5%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Capex of Taxonomy-non-eligible activities 40,5 97,5%
Tot al (A+ B) 41,5 100,0%
Substantial Contribution Criteria
DNSH criteria (Does Not Significantly Harm)
Long-term sustainability of the natural environment Annual report 2023 119
Proportion of operating expenses (OPEX) related to Taxonomy-aligned economic activities - disclosure by the Luka Koper Group for the year 2023 with comparison to 2022, for the
achievement of all goals
The regulation did not apply in 2022
N/EL… Taxonomy non-eligible activity for the relevant objective
N/A... DNSH criteria are not defined for the objective concerned
- not relevant
# The Code constitutes the abbreviation of the relevant objective to which the economic activity is eligible to make a substantial contribution, as well as the Section number of the activity in the relevant Annex covering the objective,
i.e.:
- Climate change mitigation: CCM;
- Climate Change Adaptation: CCA;
- Water and Marine Resources: WTR;
- Circular Economy: CE;
- Pollution Prevention and Control: PPC;
- Biodiversity and ecosystems: BIO
Luka Koper Group
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
Economic Activities Code #
Absolute
turnover
Proportion of
turnover
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Climate
Change
Mitigation
Climate
Change
Adaptatation
Water
Circular
Economy
Pollution
Biodiversity
and
ecosystems
Minimum
Safeguards
Taxonomy
aligned
proportion of
total
turnover
2023
Taxonomy
aligned
proportion of
total
turnover
2022
Category
(enabling
activity)
Category
(transitional
activity)
EUR million % % % % % % % Y/N Y/N Y/N Y/N Y/N Y/N Y/N % % E T
A TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Environmentally sustainable activities (Taxonomy-
aligned)
2.3 Collection and transport of non-hazardous and
hazardous waste
KG 2.3,
NACE: E38.11,
E38.12, F42.9
1,0 5,0% N/EL N/EL N/EL 100,0% N/EL N/EL N/A Y Y _ Y N/A Y 5,0% /
5.2 Renewal of water collection, treatment and supply
systems
PPS 5.2.
NACE: E36.00
and F42.99
0,9 4,5% N/EL 100,0% N/EL N/EL N/EL N/EL N/A
_
Y N/A N/A Y Y 4,5% 3,8%
6.16 Infrastructure enabling low carbon water transport
BPS 6.16.
NACE: F42.91,
F71.1 or
F71.20
3,1 15,6% 100,0% N/EL N/EL N/EL N/EL N/EL
_
Y Y Y Y Y Y 15,6% 10,3% O
OpEx of environmentally sustainable activities (Taxonomy-
aligned) (A.1)
5,0 25,1% 25,1% 14,1%
A.2 Taxonomy-Eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
5.5 Collection and transport of non-hazardous waste in
source segregated fractions
BPS 5.5
NACE: E38.11
0,6 3,0%
7.7 Acquisition and ownership of buildings
BPS and PPS
7.7
HACE: L68
0,6 3,0%
OpEx of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy-aligned activities)
(A.2)
1,2 6,0%
Total (A.1+A.2) 6,2 31,2% 25,1% 14,1%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
OpEx of Taxonomy-non-eligible activities 13,7 68,8%
Total (A+B) 19,9 100,0%
Substantial Contribution Criteria
DNSH criteria (Does Not Significantly Harm)
120 Annual report 2023 Long-term sustainability of the natural environment
19.2 About the environmental management system
54
Technical support to the Management Board of the Company and Profit Centres is provided by specialised
departments organised according to the fundamental management functions and the specific needs of the
activities. Individual organisational units are responsible for the implementation of programmes and the
achievement of environmental protection goals, while the programmes involving several units and a common
infrastructure are the responsibility of the health and ecology protection department. The department performs an
advisory, supervisory, development and operational role. In accordance with the requirements of ISO 14001 and
EMAS and the Company's strategy, a representative of the Management Board for the environment and
occupational safety and health and an environmental protection officer are appointed.
The environmental management system is designed so as to derive from the strategic orientations of the company,
where strategic targets are determined. The Company’s policy and commitment is shown in more detail in the
Chapter 19.4 ‘Policy on safety and health in the port and energy efficiency’. Environmental aspects are reviewed
and evaluated as part of the annual planning process on a yearly basis. These aspects are elements of activities,
products and services with significant impacts on the environment or impacts on our activity (e.g. climate change).
The criteria for evaluating the significance of environmental aspects include year-on-year progress, compliance
with the law and compliance with the adopted internal standards, cost increase, and public opinion. To indicate
significance in the evaluation process, a colour scale is used (red, yellow, green). An environmental aspect is
considered significant when any of its criteria is evaluated red or at least three criteria are evaluated yellow. In
analysing environmental aspects, all the activities are considered (in terms of indirect and direct impacts on the
environment). The environmental aspects evaluated as significant are shown below. The Environmental report also
discusses other identified environmental aspects, with the aim of providing a complete overview of the Company’s
environmental management and activity.
For the environmental aspects evaluated as significant, annual quantifiable targets are set and operational
improvement programmes (OIP) are developed to facilitate the process of meeting the targets and make it more
efficient. OIP is a measure that is taken to control an identified environmental aspect, to prevent or mitigate negative
impacts, to ensure remediation of the impact, and to control actual and potential positive impacts. OIP can be an
investment, a cost (e.g. study, maintenance interventions, measurement) or an organizational measure. These are
included in the Company's annual business plan. The implementation of improvement programmes is reviewed
annually and also reported on in this report, separately in each section. The achievement of the set targets is
monitored quarterly and reported to the Management Board. The adequacy of the established environmental
management system is examined and evaluated also as part of regular internal assessments and management
reviews and external quality system audits. The effectiveness of the measures implemented is further monitored
by reviewing the OIPs implemented, by monitoring the objectives and the specific indicators set, which are also
presented for each environmental aspect in the chapters of the report. They are monitored and shown over the
years to identify trends and assess progress. The results of the environmental management system are
communicated to stakeholders in various ways (e. g. through the annual report that is made public, through
quarterly reports published on the stock exchange, through on-line measurements of noise, dust particles, sea
quality, etc.). Initiatives and cooperation with stakeholders influence the scope of the implementation of the
environmental management system, as well as the scope of reporting.
19.3 Living in harmony with the environment
55
Luka Koper, d. d., has always been concerned for improving the quality of life in the entire area in which the port is
situated, and has been aware of the vulnerability of the natural environment. Being aware of the port’s impact on
the environment, Luka Koper, d. d., has committed in its policies to sound management of the environment, hoping
to preserve it for future generations. The processes of monitoring and reducing environmental impacts are part of
regular activities. To this end, Luka Koper, d. d. works with competent specialised institutions.
54
GRI 2-13, 3-3
55
GRI 3-3, 304-1, 304-2, 304-3, 304-4
Long-term sustainability of the natural environment Annual report 2023 121
Natura 2000 sites nearest to the port Nearby underwater meadows (dwarf eelgrass or
Zostera noltei and little Neptune grass or Cymodocea nodosa in the
direction of Ankaran)
Coexisting with the port in its immediate vicinity is the natural reserve known as Škocjanski Zatok (extending over
122.7 ha). The largest brackish wetland in Slovenia, the reserve is of vital importance for its remarkable profusion
of flora and fauna. An agreement was signed with the manager of Škocjanski Zatok, DOPPS-Birdlife Slovenia, based
on which the signatories cooperate in the preservation and management of ecosystems in order to:
• Strengthen ecosystem services arising from nature and biodiversity as a stream of benefits for area
stakeholders;
• Reduce pressures that negatively affect ecosystems, either as a result of the use of their services or
due to the indirect impacts of human activities;
• Improve the capacity of key actors to tackle environmental vulnerability and preserve ecosystems
and their services;
• Support key actors with strategies, methods, resources and tools for effective conservation and
management of ecosystems;
• Include an integrated management approach and an approach involving local communities in the
management system.
The area is home to a huge number of endangered plant and animal species. The 2018 census identified 1,575
species from the IUCN
56
Red List and from the list of nationally protected endangered animal and plant species.
We estimate that all of them may be potentially endangered as a result of the port’s operation. Species abundance
data were provided by the manager of the Škocjanski Zatok slough. To observe the indirect impacts of the port on
the area of Škocjanski Zatok, the monitoring of impacts (noise, air quality) has been established for several years,
with measuring devices placed in the immediate vicinity of the slough. The measurement results are made public
and presented in a report. In 2021, we established water quality monitoring in the strait that crosses the port and
connects Škocjanski Zatok to the sea (the results are reported in Chapter 19.15 ‘Biodiversity’). Part of the storm
sewer from the port area flows into the strait, which can affect the water quality in Škocjanski Zatok.
For quite some time, we have had a shared notification system for cases of uncontrolled spills that could affect the
water quality in Škocjanski Zatok. For many years, the site where water crosses from the strait to Škocjanski Zatok
has had a fixed lock which is now reconstructed.
Uncontrolled pollution at sea is monitored with three installed sensors (the results are presented in the Chapter
19.16 ‘Marine protection’). A radar system was installed in 2022 and tested in 2023 to identify potential oil slicks
even more reliably.
A coastal marsh at Sv. Nikolaj (extending over 7.27 ha), rare for its brackish marsh plants, and a unique Posidonia
oceanica seagrass meadow in Žusterna are located near the port. While Posidonia oceanica is a common seagrass
species in the Mediterranean, the small area (1 km) off the Slovenian coast between Koper and Izola is its only
habitat in the Gulf of Trieste. In 2023, we mapped the Posidonia oceanica seagrass meadow (determined its extent)
and in 2024, we will establish the monitoring of its condition.
At a greater distance from the port is the Debeli Rtič park (5.26 ha), which is also part of the Natura 2000 area. The
port marine area is located in an ecologically important area, a sensitive area affected by eutrophication and a
sensitive area of bathing water; therefore, we already have a system in place to monitor the quality of the sea, which
is presented in the Chapters 19.15 ‘Biodiversity’ and 19.16 ‘Marine protection’.
56
IUCN – International Union for the Conservation of Nature and Natural Resources
122 Annual report 2023 Long-term sustainability of the natural environment
In the direction of Ankaran, outside the concession area of the port, underwater meadows (dwarf eelgrass or
Zostera noltei and little Neptune grass or Cymodocea nodosa) are found at depths of up to 5 meters. The meadows
are not classified as protected areas, but their status may be affected by port operations. This is reported in Chapter
19.15 ‘Biodiversity’.
The Rižana River flows into the port water area (extending over 2.1 million m2) with a high content of suspended
particles, which contributes to the siltation of the seabed in port basin II. Sea currents also contribute considerably
to continuous application of the material to all port basins. In port waters, a certain depth has to be maintained on
a regular basis to allow safe navigation and mooring of ships. Seabed dredging is carried out as necessary, and the
material pumped out is deposited in settling pits provided for this purpose on land, but their capacities are not
sufficient. Regardless of the activity of dredging and shipping, many animal and plant marine species are present
in the port area, and this topic is presented in the Chapter 19.16 ‘Marine protection’. In 2021, an analysis of the
abundance and species richness of organisms living in marine sediment was carried out for the first time and the
results were presented in previous reports.
Koper city centre and part of the settlements Ankaran and Bertoki are also situated in the immediate vicinity of the
port.
19.3.1 Significant environmental aspects in 2023
Environmental
aspects evaluated
as significant
Explanation of the nature of impact
WATER
CONSUMPTION /
WASTEWATER /
SEA
- Drinking water consumption
-
- Drinking water consumption and
losses in the water supply network
affect the already limited quantities of
drinking water on the Coast.
ATMOSPHERIC
EMISSIONS
- Dust emissions/immissions
from services
- Handling of the bulk material can
result in dust, causing some of the
pollutants in the air to increase.
ENERGY /
INTERNAL
TRANSPORT
- Internal transport powered by
diesel engines
- Electricity and fuel
consumption
The use of fuel in the transport process results
in the release of greenhouse gases into the air.
- Electricity use indirectly affects the
generation of pollutants, but this
refers to locations where electricity is
generated from non-renewable energy
sources.
NOISE / ODOUR
- Generation of noise in the port
- Noise emissions from freight
and passenger ships
- Every activity results in noise, which
spreads into the environment and
causes disturbance.
OTHER
ENVIRONMENTAL
ASPECTS
- Seabed dredging and disposal
of marine sediments
- To ensure the safety of navigation and
in the event of certain interventions,
the seabed has to be dredged, whereby
the sediment excavated is deposited
ashore. Due to the salinity of the
material, the surfaces are no longer
suitable for farming, and the deposited
marine sediment has poor load
carrying capacity and tends to sink.
OTHER
ENVIRONMENTAL
ASPECTS
- Fire safety
- A high level of fire safety is highly
crucial for the smooth operation of the
entire port.
OTHER
ENVIRONMENTAL
ASPECTS
- Biodiversity conservation
- Biodiversity conservation is a major
environmental aspect since the port
coexists with the Škocjanski zatok
nature reserve; in the immediate
vicinity, there is also a coastal marsh
at Sv. Nikolaj, rare for its brackish
marsh plants, and a unique Posidonia
Long-term sustainability of the natural environment Annual report 2023 123
oceanica seagrass meadow in
Žusterna.
WASTE
- Port- and ship-generated waste
- High rate of separate collection and
re-use of waste (circular economy).
The table above shows environmental aspects evaluated as significant. In order to reduce the impacts of the
identified environmental aspects, this year the traditional Luka Koper environmental workshop was again
organised to decide on annual activities (improvement programmes) and review the progress made towards
achieving the environmental targets, which are presented in more detail in the Chapter 19.3.2 ‘Environmental
targets in 2024’
A survey was carried out at the European Ports Association level to identify the relevant environmental aspects,
which are shown in the figure below (https://www.espo.be).
Environmental aspects assessed as important at European Ports Association level in 2023
The Regulation (EC) on the voluntary participation by organisations in the Community eco-management and audit
scheme (EMAS) states that significant direct and indirect environmental aspects have to be reported together with
the main performance indicators for the following environmental areas:
• Energy,
• Materials,
• Water,
• Waste,
• Land use related to biodiversity,
• Emissions.
Energy, water, waste and land use with regard to biodiversity and emissions are reported later in this report. The
material indicator is not shown because it is estimated as not crucial and important in storage and transhipment
activities. In addition, we show more in-depth information related to climate change, as recommended by the
European Commission in its Guidance on non-financial reporting: Supplement on reporting climate-related
information (2019/C 209/01), as well as information on how and to what extent our activities are linked to economic
activities that are considered environmentally sustainable, in accordance with Articles 3 and 9 of the Taxonomy
Regulation (Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the
establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088) in
conjunction with Commission Delegated Regulation (EU) 2021/2139.
124 Annual report 2023 Long-term sustainability of the natural environment
In general, climate change is managed through a recognised important environmental aspect - energy/internal
transport (energy use) and a recognized risk - climate change. The report additionally discusses fire safety in the
port, light pollution and the management of marine sediments.
19.3.2 Environmental targets in 2023
The most important environmental targets:
• Pass the verification of compliance with the EMAS regulation, and the ISO 50001 and ISO 14001
standards;
• Reduce total dust emissions on all ten port locations to 200 mg/m2 per day, and limit the deviations
to no more than 5 measurements throughout the year;
• Maintain PM10 concentrations (particles up to 10 μm) across the entire port area below 30 μg/m3 (in
the direction of Ankaran, Koper and Bertoki);
• Maintain the share of separately collected waste, excluding waste from vessels, at 93 percent;
• Reduce the night-time noise level in the direction of Koper to 48 dBA;
• Maintain the noise level in front of the closest buildings outside the port at 58 dB during the day and
53 dB in the evening;
• Achieve the target specific consumption of energy sources despite the purchase of additional
machinery and new electricity consumers: fuel at 0.1290 l/t, electricity at 0.7960 kWh/t, and drinking
water at 2.5 l/t;
• Ensure that no (inspection or internal) measures will be required for the developments;
• Prevent all instances of sea pollution outside the port water area;
• In case of fire interventions and injury accidents, ensure that the intervention time of the
professional fire brigade is less than 3.5 minutes (from receiving the notification until arrival at the
scene);
• Prevent any major industrial accidents altogether;
• Implement all inspection decisions in the field of fire safety;
• Preserve the range of the area of underwater meadows (Cymodocea nodosa, Zostera noltei)
compared to the 2018 reference period;
• Maintain the quality of water in the strait that connects Škocjanski Zatok with the sea and crosses
the port, by monitoring the mineral oil content, the amount of which should not exceed 50 µg / l.
19.3.3 Realisation of environmental objectives in the period 2021-2023
57
The table presents the objectives and their realisation; the content is explained in more detail in the relevant
chapters of the report.
Section
No
Important
environmental
aspect
OBJECTIVE
Target value
2023
Results for
2021 - 2023
Realisation
2023
19.8
Dust
emissions/immissions
from services
Reduce total dust immissions for each
measurement
200 mg/m
2
day
up to 5
exceedances
2021
2022
2023
Values achieved:
120
7
exceedances
114
10
exceedances
104
6
exceedances
19.8
Dust
emissions/immissions
from services
Maintain immission particle size below
10 m in the entire port area
< 30 g/m
3
2021
2022
2023
Values achieved:
Bertoki-17
Ankaran-15
Koper-16
Bertoki-21
Ankaran-16
Koper-16
Bertoki-14
Ankaran-22
Koper-14
19.9
Waste management
Maintain the percentage of waste
collected separately excluding ship-
generated waste
>93%
2021*
2022*
2023
Values achieved:
93.6
93.6
93.9
57
GRI 302-4
Long-term sustainability of the natural environment Annual report 2023 125
19.10
Noise generation in port,
noise emitted by cargo
and passenger ships
Reduce the noise level at night in the
direction of the city of Koper
Night
48 dB
2021
2022
2023
Values achieved:
53
54
54
19.10
Noise generation in port,
noise emitted by cargo
and passenger ships
Maintain the noise level in front of the
closest buildings outside the port at 58
dB during the day and 53 dB in the
evening.
Evening
53 dB
2021
2022
2023
Values achieved:
Bertoki-37
Ankaran-44
Koper-54
Bertoki-37
Ankaran-46
Koper-55
Bertoki-36
Ankaran-45
Koper-56
19.10
Noise generation in port,
noise emitted by cargo
and passenger ships
Maintain the noise level in front of the
closest buildings outside the port at 58
dB during the day and 53 dB in the
evening.
Day
58 dB
2021
2022
2023
Values achieved:
Bertoki-39
Ankaran-45
Koper-54
Bertoki-38
Ankaran-45
Koper-56
Bertoki-38
Ankaran-45
Koper-56
19.11
Electricity and fuel
consumption
Maintain specific energy consumption on
par with the year before despite
increases in transhipment and storage
capacities
0.7960 kWh/t
2021**
2022**
2023
Values achieved:
0.7740
0.7332
0.8377
19.12
Drinking water
consumption
Maintain specific energy consumption on
par with the year before despite
increases in throughput and storage
capacities
2.5 l/t
2021**
2022**
2023
Values achieved:
2.29
2.09
2.255
19.11
Internal transport
powered by diesel
engines
Maintain specific energy consumption on
par with the year before despite
increases in throughput and storage
capacities
0.1290 l/t
2021**
2022**
2023
Values achieved:
0.1195
0.1267
0.1271
19.17
Seabed dredging and
disposal of marine
sediments
Developments
0 actions
2021
2022
2023
Values achieved:
0
0
0
19.16
Marine pollution
Prevent all instances of sea pollution
outside the port water area
0
contamination
s
2021
2022
2023
Values achieved:
0
0
0
19.7
Fire safety
Ensure that the intervention time of the
fire brigade is as short as possible (from
receipt of the notification to arrival at the
location) for fire interventions and injury
accidents.
< 3.5 min
2021
2022
2023
Values achieved:
2.97
2.98
2.83
19.7
Fire safety
Prevent any major industrial accidents
altogether
0 large
industrial
accidents
2021
2022
2023
Values achieved:
0
0
0
19.7
Fire safety
Implement inspection decisions fully
0
unimplemente
d inspection
decisions
2021
2022
2023
Values achieved:
0
0
0
19.15
Biodiversity conservation
Preserve water quality in the strait that
connects Škocjanski Zatok with the sea
and crosses the port
Mineral oil
content
< 50 µg/l
2021
2022
2023
Values achieved:
<20
<20
<20
126 Annual report 2023 Long-term sustainability of the natural environment
19.15
Biodiversity conservation
Preserve the range of the area of
underwater meadows (Cymodocea
nodosa, Zostera nolti) - measurement
every three years
Same area
compared to
the 2018
reference
period
2021
2022
2023
Values achieved:
/#
/#
***
Key:
Target not attained
Target attained
Target partially
attained
Target is new
NOTE:
*The target for 2021 was >91% and for 2022 >92%.
**In 2021, the targets were 0.7658 kwh/t for electricity, 0.1249 l/t for fuel, and 4.9 l/t for drinking water. As of 2021, target values and specific
consumption of fuel, electricity and drinking water are calculated on the basis of total throughput.
**In 2022, the targets were 0.7918 kwh/t for electricity, 0.1214 l/t for fuel, and 4.9 l/t for drinking water. As of 2021, target values and specific
consumption of fuel, electricity and drinking water are calculated on the basis of total throughput.
*** The determination of the extent of seagrass meadows was not implemented in 2023 and will be carried out in 2024, after which the frequency of
verification will be increased control will be carried out every 2 years.
19.4 Policy on safety and health in the port and energy efficiency
58
In Luka Koper, d. d., an environmental policy is in place and its adequacy is regularly reviewed. In March 2019, the
Policy on safety and health in the port and energy efficiency was updated. It is published at: https://www.luka-
kp.si/slo/pomembni-dokumenti-208. The policy also sets out guidelines for reducing climate change by striving to
reduce environmental impacts, managing resources carefully, improving energy efficiency and introducing modern
technology.
19.5 Compliance with environmental protection requirements
59
19.5.1 Compliance with environmental legislation
60
In demonstrating compliance, we primarily refer to the Environmental Protection Act (Official Gazette of the
Republic of Slovenia, No 44/22)t, on the basis of which the following environmental permits have been granted:
• No 35450-18/2022-2550-4 of 4 Apr 2023 and a clean copy of imposition 35450-18/2022-2550-8 of 26
May 2023 regarding noise emissions;
• No 35444-2/2016-13 of 15 Jun 2017, amendments No 35440-50/2019-10 of 21 Oct 2020 and No
35447-4/2021-2550-10 of 27 May 2022 regarding atmospheric emissions, wastewater emissions and
storage of non-hazardous waste;
• No 35415-1/2006-15 of 8 Jan 2008, amendments No 35415-4/2008-16 of 19 Mar 2009, No 35495-
1/2012-20 of 21 Nov 2012, No 35492-1/2013-10 of 21 Jun 2013 and No 35495-4/2016-7 of 14 Oct 2016
regarding the operation of a facility that may cause a major accident (Seveso).
The Company meets the requirements set out in the environmental permits it has been granted with regard to
emissions into water and into the air, storage of waste, noise emissions, and which it has been granted as a facility
of increased risk of accidents. The fulfilment of the requirements of the granted environmental permits is reviewed
annually to find whether the prescribed requirements are met.
To address light pollution, modernisation of all lights was completed in early 2017 so that they were made to comply
with legal provisions in the field of light pollution (Decree on limit values for light pollution of the environment
(Official Gazette of the Republic of Slovenia, No 81/07, 109/07, 62/10, 46/13 and 44/22 – ZVO-2)). The plan was
58
GRI 3-3
59
GRI 3-3
60
GRI 2-27, 303-4
Long-term sustainability of the natural environment Annual report 2023 127
subsequently revised in 2019, 2021 and 2022. The revisions were made due to changes in the number and location
of the lights installed/removed.
Results of the measurements taken on the devices causing emissions to air indicate compliance with the obtained
environmental permit (No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020
and No 35447-4/2021-2550-10 of 27 May 2022).
PM10 and PM2,5 concentrations in the air in the port area, as well as the number of exceedances, are below the
limit values stipulated by law (Decree on ambient air quality (Official Gazette of the Republic of Slovenia, No 9/11,
8/15, 66/18 and 44/22 – ZVO-2)).
The measured emissions of combustion plants are compliant with the legal requirements (No 35444-2/2016-13 of
15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022)
and Decree on the emission of substances into the atmosphere from small combustion plants (Official Gazette of
the Republic of Slovenia, No 46/19 and 44/22 – ZVO-2)
The noise level measured by three fixed monitors (measurements are carried out continuously, 24/7) complies with
the requirements of the granted environmental permit No 35450-18/2022-2550-4 of 4 Apr 2023 and the clean copy
of imposition 35450-18/2022-2550-8 of 25 May 2023 with regard to the limit values of the ambient noise indicators
applicable in front of the first buildings of Koper, Ankaran and Bertoki. In 2022, additional periodic measurements
were carried out in front of the first buildings around the port and the results are in line with the requirements of
the environmental permit granted with regard to the limit values of the ambient noise indicators applicable in front
of the first buildings of Koper, Ankaran and Bertoki. The latter measurements are carried out every three years in
accordance with the legislation. Also, in 2023, with the help of the authorised representative and a model
calculation, we obtained an estimate of the environmental noise pollution (model calculation for the value of the
night target until 2027).
The performed analyses of industrial wastewater and wastewater from small wastewater treatment systems have
shown compliance with legal and environmental requirements No 35444-2/2016-13 of 15 Jun 2017, amendment No
35440-50/2019-10 of 21 Oct 2020 and amendment No 35447-4/2021-2550-10 of 27 May 2022. At the new site, where
scrap iron is stored, the results in the stormwater were inadequate, which we found to be the result of seawater
intrusion and mixing of the wastewater in the oil interceptor. As a measure, the stormwater runoff from this site
will be diverted and treated in a new oil interceptor, which will be installed at a suitable depth to prevent seawater
intrusion. We estimate that no significant environmental contamination has occurred as, although scrap iron is
occasionally stored on site, the storage period is at most a few weeks (see Chapter 19.13 ‘Wastewater
management’). The measurement of the wastewater from the washing facility at the livestock terminal showed a
slight exceedance of the limit value for the parameter ammonium nitrogen, but the discharged wastewater is
further discharged to the Koper Central Wastewater Treatment Plant, where it is further treated, and therefore we
estimate that there is no environmental pollution. Other measurements and parameters in the industrial
wastewater were in accordance with the provisions of the environmental permit No 35444-2/2016-13 of 15 Jun
2017, amendment No 35440-50/2019-10 of 21 Oct 2020 and amendment No 35447-4/2021-2550-10 of 27 May 2022.
The results of the measurements were communicated to the operator of the Koper Central Wastewater Treatment
Plant.
The Company has a valid environmental permit for the warehousing (transhipment) of some categories of waste
(scrap iron, paper, plastics, mill scale), No 35444-2/2016-13 of 15 Jun 2017, amendment No 35440-50/2019-10 of
21 Oct 2020 and amendment N .35447-4/2021-2550-10 of 27 May 2022. We performed transhipment of scrap iron,
measuring the radioactivity of consignments, keeping records, calculating dust immissions into the environment
and measuring wastewater from oil interceptors. In the context of the handling of scrap iron, other material was
also traced in the consignments and returned to the sender or forwarded to another authorised organisation. Based
on this, we have submitted an application to the Ministry for an amendment to the existing environmental permit
(No 35444-2/2016-13 of 15 Jun 2017, amendment No 35440-50/2019-10 of 21 Oct 2020, amendment No 35447-
4/2021-2550-10 of 27 May 2022) to introduce an additional treatment process for metallic waste at the existing site
(Site 2 and Site 7) using the mechanical process R12 - Exchange of wastes for submission to any of the operations
numbered.
In accordance with the Decree on checking the radioactivity of consignments that could contain orphan sources
(Official Gazette of the Republic of Slovenia, No. 10/2019), measurements were performed continuously. We have
been authorised to carry out measurements by the Slovenian Nuclear Safety Administration (SNSA) in December
2021, to which we submitted an annual report on the measurements performed.
We have not received any decisions for the implemented inspections (more in Chapter 19.6.4 ‘Inspections’).
128 Annual report 2023 Long-term sustainability of the natural environment
19.5.2 Compliance with internal requirements
In monitoring total dust, the set target of 200 mg/m2 per day was achieved, the average annual value having been
9 percent lower than in the previous year and below the target value. In 118 measurements, 6 exceedances were
measured, which is less than in the previous year but above the set target (5 exceedances).
In monitoring the immissions of PM10 particles in the entire port area, the set internal target was achieved.
In energy management, the targets for specific drinking water consumption and fossil fuel consumption for the
port’s activity were met, however, the target for specific electricity consumption was not met. Deviations in target
indicators are explained in related chapters.
The sea water protection system is being maintained and upgraded in a way to help meeting the set target without
contaminations outside the port water area.
At the level of Luka Koper, d. d., internal targets have been set for night, day and evening noise reduction on all
three sides of the port, where meters are installed. The values of the internal targets were set according to the
limit values defined in the previous regulation on noise emissions. Despite the fact that the limit values in the new
Regulation increased, we decided not to change the target values by the end of 2023. In the direction of Ankaran
and Bertoki, objectives are achieved in all three parts of the day (day, evening, night), they are also achieved in the
direction of Koper in daytime, but not also in the evening and at night. It is estimated that in the coming years the
set target for evening noise (now exceeded by 3 dB) could be achieved based on all activities, investments in
electrification and modernisation on the first quayside and Pier I. At the same time, we estimate that the set goal
for night noise in the direction of Koper (currently exceeded by 6 dB) is not realistically achievable despite all the
measures, so in this case we worked with an authorised contractor to create a model calculation based on the data
of the existing and planned machinery up to 2027. The model calculation will thus be the basis for setting a more
realistic night-time target in the direction of Koper.
For 2024, we have changed the value of the nighttime target in the direction of Koper based on the model calculation
(described in more detail in Chapter 19.10.1. ‘Noise emission results’).
In the field of waste collection, the target of more than 93-percent share of waste collected separately excluding
ship-generated waste is being met.
At the company level, the defined intervention time of the fire brigade is ensured (from receipt of notification to
arrival) for fire interventions and accidents with bodily injuries, and the goals of complete prevention of major
industrial accidents and full implementation of fire safety inspection decisions (no such decision has been received
yet) were achieved in 2023.
The target, according to which no inspection or internal measures were required for interventions in space, was
achieved.
The target in the field of marine protection was also achieved, as there has not been a single case of marine
pollution outside the port water area.
The status of underwater meadows in the direction of Ankaran is checked periodically (once every 3 years), but it
was not implemented in 2023. This is because the process of launching a public procurement procedure and
selecting a contractor is being carried out, as we want to increase the monitoring frequency to 2 years. Regardless
of the above, we have taken measurements and checked the status of the underwater meadows in the direction of
Ankaran. Their status was found to be good.
19.6 Public communication
61
19.6.1 Results of a public opinion poll
Each year, a public opinion poll is carried out among the local population on the perception of Luka Koper, d. d.,
regarding its relationship to the environment and the company's performance. Most of the respondents are from
the local communities of Semedela, Žusterna, Za Gradom and Olmo-Prisoje (43.8%), Bertoki, Hrvatini and Škofije
(30.3%), Koper central (16.6%), and the municipality of Ankaran (9.3%). Throughout the years the survey was held,
the sample has remained the same, and included all age groups and equally both sexes. The majority of
respondents (87.4%) found Luka Koper, d. d., to be a successful/very successful enterprise.
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Long-term sustainability of the natural environment Annual report 2023 129
Respondents believe the biggest sources of pollution in the local environment to be:
• Road transport (40.6%, 2022: 29.7%),
• Port activity (26.0%, 2022: 24.8%),
• Industry in Trieste (14.7%, 2022: 6.4%), and
• Local industry (3.6%, 2022: 8.6%)
According to 43.2 percent of the respondents (2022: 26.6%), Luka Koper d. d. has a medium level of environmental
protection (rating it a 3); 26.5 percent (2022: 27.3%) believe it is very good (rating it a 4), while 10.8 percent (2022:
21.7%) have rated the Company’s environmental protection programme as excellent (rating it a 5). 16.4 percent
(2022: 11.9%) of the respondents deem the Company’s performance in this area poor or fair. Compared to the
previous year, the proportion of respondents who believe that Luka Koper, d. d., takes care of the environment quite
well (rating 4) has slightly decreased, but the proportion of those who think that Luka Koper, d. d., takes medium
care of environmental protection (rating 3) has increased considerably. However, the proportion of those who think
that Luka Koper, d. d., takes excellent care of environmental protection (rating 5) has decreased by half. The
average score (on a scale of 1 to 5) has fallen from 3.66 to 3.28 in the last year.
Public assessment of the port's environmental impact:
2021
2022
2023
Public assessment of the port's environmental impact
3,62
3,64
3,28
19.6.2 Important public communication events
The Company joined the ESI (Environmental Ship Index) project, which allows ships with modern and cleaner
propulsion systems to pay lower port charges from 1 January 2023. ESI is a voluntary scheme used by ports to
encourage and reward environmentally cleaner and more sustainable ships. Before introducing the scheme that
allows ships with lower environmental emissions to pay a lower fee, it was presented to all shipowners'
representatives, with the aim of getting as many ships as possible to join the scheme, or only ships with the lowest
environmental emissions to call at the port. The list of ships included in the ESI scheme is updated continuously
and it is ensured that all clean ships are charged lower port dues. In 2023, 106 of the 1642 ships (6.5%), which are
included in the ESI scheme, received a discount.
We have been very active in the field of energy. As part of the SOPOREM project, in which Luka Koper, d. d., as the
lead partner collaborates with the Municipality of Koper and the Norwegian company Greenstat, the project of
installing photovoltaic power plants in the port was presented at a press conference. The project envisages the
construction of the second largest solar power plant in the country, to be completed in 2024. The project is reported
in more detail in Chapter 2 ‘Letter of the President of the Management Board’.
In addition, activities were underway in late 2023 for a project to build a shore-side power supply system for ships.
This follows the requirements of Regulation (EU) 2023/1805 on the use of renewable and low-carbon fuels in
maritime transport and contributes to reducing greenhouse gas emissions, noise pollution and air pollution, thus
maintaining environmental sustainability standards.
For the joint project with Eles, d.o.o. for the construction of the 110/20 kV transformer station Luka Koper, d. d.,
with a connecting line, a tenderer was selected at the end of 2023 for the preparation of the design and spatial-
environmental documentation. The new substation will enable further development of the port while abandoning
fossil fuels.
In order to meet the charging needs of electric vehicles, work has started in 2023 on a charging management
system for the port.
In order to strengthen and develop cross-border cooperation, the Trieste Port Authority, the Venice Port Authority
and Luka Koper, d. d., in cooperation with the Consortium for the Economic Development of Friuli Venezia Giulia
and the University of Primorska, signed a protocol on sustainability and energy efficiency in ports. By adopting the
Protocol, we have committed to continue the activities already undertaken in the past years in the framework of the
EU project Clean Berth, co-funded by the Interreg V-A Slovenia – Italy 2014–2020 Programme (https://www.luka-
kp.si/en/news/ports-in-north-adriatic-for-closer-cooperation-on-environmental-and-energy-projects/).
130 Annual report 2023 Long-term sustainability of the natural environment
As part of our sponsorship, we supported the organisation of two professional business conferences in the field of
sustainability: the first one was Mobility on 7 June, followed by Energy 2023 on 11 October. Both conferences were
attended by employees from the health and ecology protection department, which also includes the energy sector.
This led to the preparation of expert articles on environmental protection and green transition projects, which were
published on the Delo website: https://www.delo.si/dpc-gradbenistvo/ugled-se-gradi-z-odgovornim-odnosom-do-
okolja/ and a VIDEO: If allowed, we could also bathe in the Port of Koper - Delo.
We participated in the 25th Energy Days, which took place on 18 and 19 April in Portorož. At this meeting of
Slovenia's energy managers at a conference on the challenges and opportunities of the energy crisis, we presented
key climate transition projects and the challenges we face in the specific port operations: Luka Koper, d. d., is ready
for the green transition - Luka Koper, d. d. (luka-kp.si).
Energy Days
On November 7, we hosted the final conference of the European 5G-Loginnov project, within the framework of which
the development and testing of the next generation 5G mobile network for the needs of ports and logistics took
place over the past three years: With 5G technology, a step forward in the development of a smart port - Luka
Koper, d. d. (luka-kp.si).
Closing conference of the European 5G-Loginnov project
Photo: Jakob Bužan
We joined UNI.MINDS, Slovenia's largest festival dedicated to the creation and development of a Slovenian
innovation community in partnership between the economy and the academic environment. On this occasion,
students from various Slovenian faculties visited the port. In the InnoRenew CoE centre of excellence, we presented
the students in detail with environmental protection activities, the innovative measure of applying a cellulose
Long-term sustainability of the natural environment Annual report 2023 131
protective layer on stored coal and the project "Bricks made of marine sediment" awarded by the European Sea
Ports Organization (ESPO): Festival UNI.MINDS: Bringing together the economy and the academic sphere - Luka
Koper, d. d. (luka-kp.si).
Festival UNI.MINDS - Bringing together the economy and the academic sphere
Luka Koper, d. d., joined the supporters of the victims of the August floods and donated 241 pallets of bricks to the
Administration of the Republic of Slovenia for Civil Protection and Disaster Relief. The bricks are the product of an
award-winning project in which Luka Koper, d. d., together with its partners, produced from dredged marine
sediment bricks that are frost-resistant, and with low water absorption and high compressive and flexural strength,
and suitable for load-bearing and non-load-bearing wall structures: Charity port bricks for the renovation of homes
- Luka Koper, d. d. (luka-kp.si).
Donation of bricks for affected areas
Photo: Jakob Bužan
In August 2023, a meeting of a wider group of representatives of the Municipality of Koper and Luka Koper
(management and professionals) was held. On this basis, a special working group, the Technology Hub - Smart
Business City, was appointed in September with the aim of creating the conditions for the operation of a technology
hub or other form of supportive environment for economic development in part of the Storage facility No 3.
Students, accompanied by professors, of the Faculty of Maritime Studies and Transport, with whom Luka Koper
cooperates intensively in several areas, visited the port several times. The focus of the discussions during the
presentation and the port visit was on the activities of the port and its involvement in maritime safety. One of the
132 Annual report 2023 Long-term sustainability of the natural environment
activities is to take measurements and regularly monitor meteorological data. We also share information relevant
for the safe arrival of ships with the Slovenian Maritime Administration, pilots of KOPP, d. o. o., Adria-Tow tugs, the
Maritime Police, the Slovenian Armed Forces and Sirio, d. o. o. An example of good practice was also presented,
related to the organisation for prevention of or coping with unforeseen events, natural and other disasters, as well
as the needs and objectives regarding the forces and equipment for the implementation of protection and rescue.
Important events are also reported in Chapter 22 ‘Social responsibility’.
19.6.3 Registered and processed environmental complaints
62
Environmental complaints about port operations registered and processed
Environmental complaints are accepted by telephone, through a web application and the media. We address all
complaints and respond to the complainant. All complaints received were processed (100%).
A total of 14 complaints were registered in 2023, including six about excessive noise, five about smoke from the
ship, one about out-of-date information on the Living with the Port (ŽSP) website, one about noise and dust during
construction work at the external truck terminal and one about the ship's siren going off.
2021
2022
2023
Number of environmental complaints
18
12
14
Out of a total of six noise-related complaints, most of them (five complaints) related to the noise of ships in the
direction of Koper, and one to the noise of a ship in the direction of Ankaran. In all cases of noisy ships, we tried to
form an agreement with the shipowner's agent or the command of the ship to take action. Since the source of ship
noise may vary (e. g. pumps, ventilation, cranes, engine, vibrations), the measures taken by the shipowner are also
diverse and of varying effectiveness. In most cases, shipowners or ship commanders understand the issue, and if
possible or allowed by the system, they listen and take action. Of the five complaints, we were able to reduce the
noise level in two cases after taking action with the shipowner or the ship's agent. The noise impact of these ships
is present for the time they are moored in port.
Five complaints were received about a ship or tugboat smoking in port. When such incidents occurred, we informed
the competent maritime inspector, who monitors and verifies what is happening at sea, or the shipowner. In most
cases, the smoking occurs when the ship's main engines start, which lasts for a short period of time, so the impact
is present for a short period of time. A permanent end to ship smoking will only be possible when ships have
alternative propulsion systems and no longer use fossil fuels.
One complaint was received about noise and dust from construction work at the external truck terminal. In this
case, the status of the investment area was checked and an indicative timetable for the works was communicated
to the caller. After a warning to the contractor, the situation improved, so we estimate that the dust impact was
present, but for a short period of time.
One complaint was about the noise and dust data on the Living with the Port (ŽSP) website not being updated. The
problems with uploading the data on the server were quickly resolved and we do not assess the environmental
impact.
One complaint concerned the sounding of a ship's siren in the morning hours due to a ship signalling in fog. The
citizen of Koper was informed of the cause.
Environmental complaints about development plans or interventions in the port registered and processed
All stakeholders can submit written comments on development plans or interventions in the port, which are made
public by the Environment Agency. The intended interventions under the Decree on environmental encroachments
that require environmental impact assessments, are publicly disclosed (Official Gazette of the Republic of Slovenia,
No 51/14, 57/15, 26/17, 105/20 and 44/22 – ZVO-2). In 2023, Luka Koper, d. d. did not produce any documentation
for interventions or plans and, consequently, no results of environmental and social impact assessments were
published. In 2022, the results of the environmental and social impact assessment for the intervention "New
moorings on the southern quayside of Pier II" were published, where stakeholders were involved, and an integrated
permit was issued in June 2022 (100% implementation).
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Long-term sustainability of the natural environment Annual report 2023 133
19.6.4 Inspections
63
The deficiencies identified from the inspections were not of such a nature as to have an impact on the environment.
Luka Koper d. d., received no financial penalties from inspections in 2021, 2022 and 2023, whereas in 2023, one
subsidiary received a penalty of EUR 30 for an environmental offence.
Inspectorate
Start date,
notification of
the process
Subject matter
Findings
Company
Environment,
Climate and
Energy
Inspectorate of the
Republic of
Slovenia
31 May 2023
Invitation to submit the
operational wastewater
monitoring report for the
company Luka Koper, d.
d. for the year 2022.
The process is still
ongoing.
Luka Koper, d. d.
Ministry for the
Environment,
Climate and
Energy
22 Aug 2023
Control of an operations
posing a significant risk
to the environment
(SAVESO)
There were no objections,
and the procedure was
closed.
Luka Koper, d. d.
Ministry of Natural
Resources and
Spatial Planning
26 Oct 2023
Control over the
monitoring of shipments
due to increased
radioactivity
The conclusion was
recorded that it is
necessary to provide a
permanently present
monitoring operator,
which we ensured, and the
process was completed.
Luka Koper, d. d.
Environment and
Energy
Inspectorate of the
Republic of
Slovenia
1 Dec 2023
Control of the company's
compliance with the
requirements of the
environmental permit
There were no objections,
and the procedure was
closed.
Luka Koper, d. d.
Ministry for the
Environment,
Climate and
Energy
4 Dec 2023
Control over compliance
with the requirements of
the environmental
protection permit for
waste processing,
review of records on
receipt and submission
of waste for cross-
border transfer, air
emissions and
wastewater disposal.
Decision to close the
procedure No 06182-
2813/2022
There were no objections,
and the procedure was
closed.
Luka Koper, d. d.
Environment and
Energy
Inspectorate,
Koper Regional
Unit
26 Oct 2023
Inspection of goods in
the field (waste rubber)
Cargo (waste rubber) is
not stored separately
according to whether it is
waste or non-waste
Adria Terminali, d. o. o.
Environment and
Energy
Inspectorate,
Koper Regional
Unit
1 Dec 2020 -
31 Jan 2023
Documentation
accompanying the goods
(waste plastic)
Incorrectly completed
accompanying
documents, receipt and
issue of goods, decision
received and a fine of Eur
30.
Adria Terminali, d. o. o.
Environment and
Energy
Inspectorate of the
10 Nov 2023
Control over the
fulfilment of
environmental
protection requirements
In 2023, we had one
inspection by the
Environment
Inspectorate, which took
Luka Koper INPO, d. o. o.
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134 Annual report 2023 Long-term sustainability of the natural environment
Republic of
Slovenia
place in November. It is
noted that we have
cancelled the
environmental permit for
composting. We were
alerted to an irregularity
in record keeping, which
we corrected before the
end of the calendar year
deadline. Documentation
on monitoring and the
maintenance of operating
logs at the two oil
separators was also
reviewed. Part of the
documentation was
delivered later.
19.7 Environmental risk management and emergency response
64
An important step in environmental preservation and improvement is to reduce the risk of incidents and improve
emergency response procedures. At the level of Luka Koper, d. d., lists of environmental risks are also devised and
maintained annually. The port has an emergency management and response system in place, not only for
emergencies involving dangerous substances. This chapter lists and summarises the identified environmental
incidents, all small-scale and with impacts limited to the site of the event (e.g. immediate vicinity of a vehicle). The
complaints lodged by the local community are discussed in Chapter 19.6.3 ‘Registered and processed
environmental complaints’, while incidents at sea are discussed in Chapter 19.17.1 ‘Statistics for interventions at
sea’.
As part of its activities, Luka Koper, d. d., uses, transports and warehouses dangerous substances, oil and
petroleum products, and manages work equipment and assets that carry a risk of accidents.
A review of threat assessments and the Emergency Plan was carried out. The plan was approved by the
Management Board of Luka Koper, d. d., in April 2022. The protection and rescue system in Luka Koper, d. d.,
involves players from various areas of expertise, organisations and undertakings whose details are recorded in the
annexes to the plan. The annexes were regularly reviewed in 2023 and corrected or supplemented as necessary,
and the plan itself will be revised in 2025.
In the event of interventions in emergency situations in the port area, the Luka Koper, d. d., Professional Fire
Brigade and Port Security Department are always involved, and if required, also the sea protection unit, Luka Koper
INPO, d. o. o., Luka Koper, d. d. Industry Volunteer Firefighting Society, Luka Koper, d. d. Civil Protection Unit, and
other units in accordance with the Emergency Plan.
The fire safety target is to ensure an adequate supply system and a sufficient quantity of water for fire extinguishing
throughout the port area and ensure proper firefighter intervention for specific objects. In 2018, the Investments
Department devised the 2018–2023 Plan for the maintenance and repair of the water and hydrant network, which
is in its final stages.
The Port Professional Fire Brigade currently employs 30 people who ensure a 24-hour on-call service. Its fleet
comprises eight fire engines and seven trailers with various equipment. The Fire Brigade provides operational and
preventive fire safety work in the port. Firefighting operations include firefighting and rescue in all types of
accidents, providing medical aid to the sick and injured, and education and training with firefighting equipment. In
2023, the unit intervened in 712 events.
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Long-term sustainability of the natural environment Annual report 2023 135
An additional 126 fire watches (welding, cutting, etc.) were carried out throughout the year. Fire watches are carried
out daily at the liquid cargo terminal during its operation.
Fire drill
Photo: Matej Ličan
In 2023, over 250 employees were trained in fire protection.
Regular training of professional firefighters is very important for maintaining a high level of knowledge and safety
in interventions. Professional firefighters receive regular training at the fire brigade and at the Firefighting School.
Around one hundred internal exercises on various firefighting topics were conducted in the port area.
136 Annual report 2023 Long-term sustainability of the natural environment
19.7.1 Statistics for environmental incidents from 2021 to 2023
Number
in 2021
Number
in 2022
Number
in 2023
Description of event
Measures taken
115
118
207
Cracks in vehicle hydraulic systems
(external vehicles and port machinery) or
oil slicks detected on the asphalt surface.
Remediation by using absorbents and a
machine / hand-held sweeper. Eco-points
are located in key areas, where substances
for quick remediation are available
together with bins for spent absorbent
disposal. Hydraulic oil leaks are recorded
on 0.05 percent of vehicles entering the
port.
8
3
0
Leakage in the port’s water supply system.
Repair of the leaking pipes.
6
10
9
Leakage and spillage of a small amount of
petroleum products around vehicles as a
result of damage to the fuel tank.
Remediation by using absorbents and a
machine / hand-held sweeper on the site
of leakage.
3
4
3
Inadequate waste management within the
port.
Adequate management of the collected
waste in future.
9
8
9
Minor fire, onset of fire.
In all cases, small, local fire onsets were
extinguished, and additional measures
were introduced where necessary.
/
2
6
Freon leakage from the refrigerated cargo
engine room
Freons were released into the air due to
loosening of materials. We have drawn up
a project brief to modernise the
refrigeration plant in this area by phasing
out freons as a refrigerant.
All emergencies were small-scale, managed and remedied at the site of occurrence, with no impact on the
environment.
19.7.2 Presentation of the realisation of improvement programmes for better
management of uncontrollable events
In 2023, the following was implemented:
• Rehabilitation of the hydrant and water supply network in accordance with the maintenance and
investment plan,
• Cooperation with the Koper Fire Brigade and execution of joint fire drills for better cooperation in
interventions,
• Activities for the construction of a new port fire station (opinion from Marjetica, building permit,
construction documents in preparation),
• Purchase of accessories for stabilizing larger vehicles,
• Purchase of a rescue platform,
• Purchase of a drying cabinet for protective suits and other equipment,
• Purchase of equipment to maintain the physical condition of professional firefighters,
• Purchase of pneumatic sealing plugs,
• Completed replacement of two portable fire pumps,
• Completed purchase of high-pressure electric or battery fans,
• Completed purchase of a transport trolley for the transfer of firefighting equipment,
• Completed purchase of transfer trolleys for vehicles,
• Upgrade of the active fire protection system with new bollards for TC1 berth,
• Completed the update of the cooling and extinguishing system on the methanol tanks at the liquid
cargo terminal,
• Replacement and upgrade of refuelling points at the liquid cargo terminal.
Long-term sustainability of the natural environment Annual report 2023 137
The following was not implemented in 2023:
• Complete rehabilitation of the hydrant and water supply network in accordance with the
maintenance and investment plan,
• Complete modernisation of the existing waste management centre,
• Purchase of a new container for the fire watch due to exceeding the funds provided in the public
procurement process,
• Complete replacements and upgrades of refuelling points at the liquid cargo terminal.
19.7.3 Improvement programmes for better management of uncontrollable events for
2024
The following will be implemented in 2024:
• Complete replacement and upgrade of refuelling points at the liquid cargo terminal,
• Continuation of the procedures for the construction of the new fire station,
• Cooperation with the Koper Fire Brigade and execution of joint fire drills for better cooperation in
interventions,
• Complete upgrade of the existing waste management centre with the installation of additional fire
alarms in accordance with the fire study,
• Complete investments in the rehabilitation of the hydrant and water supply network in accordance
with the maintenance and investment plan,
• Repeat the procurement procedure to purchase a new container for the fire watch,
• Installation of an automatic fire extinguishing system at RMG 1-4 and KD 55-58 at the container
terminal,
• upgrade of the dry bulk cargoes terminal to comply with the ATEX Directive (equipment, tools and
protective systems intended for use in potentially explosive atmospheres),
• Initiation of procedures for the purchase of a freight passenger vehicle for the fire brigade,
• Purchase of vacuum cleaners or a vacuum system to clean the THal system at the dry bulk cargoes
terminal,
• Purchase of ATEX design work equipment (equipment intended for use in potentially explosive
atmospheres) at the bulk cargo terminal.
19.8 Emissions/immission from port operations
65
19.8.1 Air quality and environmental aspects
We are making continuous efforts to reduce emissions from port activity into the atmosphere. The main sources of
emissions we can control include:
• The transhipment and warehousing of bulk and dry bulk cargoes such as coal, iron ore, soy, wheat and
alumina. These activities cause dust emissions.
• The transhipment and warehousing of liquid cargoes such as petroleum products, o-Xylene and
methanol. These activities cause the emissions of volatile organic compounds.
• The use of liquid energy sources and motor fuels used for the port machinery and in combustion units,
causing dust and greenhouse gas emissions.
• Ships while berthing at port, as they must have auxiliary engines running for lighting, air conditioning,
ventilation, ship lifts, pumps, etc.
The systems for storing and transhipment of the above-mentioned cargoes are set up in the port of Koper in
accordance with the best available techniques (the so-called BAT). Examples of using the best available techniques
in the port are:
• Floating membranes are installed in petroleum reservoirs; fixed roof reservoirs are built to reduce the
emissions of substances into the atmosphere;
• Vapour recovery systems are installed for pumping fuel into mobile units;
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138 Annual report 2023 Long-term sustainability of the natural environment
• White or reflective colour of tanks are used to reduce the emissions of the substance into the
atmosphere;
• Modern techniques are used in transhipment: automation of the transhipment process, reduction of
drop heights in unloading cargo, use of telescopic pipes, introduction of closed transport routes and dust
barriers;
• Key cargoes are stored in silos and transported through closed transport systems where practicable and
economically feasible;
• Technical and organizational measures are introduced to reduce emissions at the point of origin; water
spraying techniques are used, delivery and acceptance of cargo in bad weather are getting abandoned,
surrounding areas are bring made green, the number of transhipment spots is getting reduced;
• Paper sludge is applied to the landfill where coal and iron ore are stored to reduce the possibility of the
material being carried away by the wind.
Air quality is also affected by activities outside the port area. The most notable of these are:
• Roads surrounding the port;
• Emissions from ships sailing or at anchor;
• Cross-border influences.
19.8.2 Total dust in the port
66
Results of total dust measurement inside the port
Total dust concentration has been monitored at ten locations within the port since 2002. The average annual dust
concentration in 2023 was 104 mg/m2 per day, a decline of 10 mg/m2 from 2022 and within the set target. 6
exceedances were recorded in 118 measurements, which is more than the target value (5 exceedances), and the
target was only partially achieved. The values were most often exceeded at the measuring points in the immediate
vicinity of the coal and iron ore dump, while one exceedance was measured in the direction of Bertoki due to the
immediate vicinity of a construction site.
Average annual total dust concentration inside the port, all monitoring points in the port combined
66
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Long-term sustainability of the natural environment Annual report 2023 139
19.8.3 Concentrations of harmful particulate matter
67
In the port area, the concentrations of fine particulate matter with particles up to 10 μm (PM
10
) and up to 2.5 μm
(PM
2.5
) are monitored by the University of Primorska. The first measuring device installed in the port has been
monitoring PM
10
particles since 2003. Over the years, the number of measuring stations has increased, and the
devices have been updated in such a way to enable the monitoring of particles smaller than 10 µm.
Results of PM
10
particle measurements provided by the devices in the port that allow for automatic online display
(LKP Ankaran and LKP Koper) are available on the website http://www.zivetispristaniscem.si/. As a comparison,
the Company also displays the results of measurement by a device installed in Markovec, which is managed by the
Slovenian Environment Agency.
Results of measurement of particles up to 10 µm (PM
10
)
Image: Measuring devices for monitoring fine dust particles
Annual average concentrations of particulate matter (PM
10
) in the port of Koper are below the legal limit value of
40 μg/m3 and below the internal target value of 30 μg/m3. Decree on ambient air quality (Official Gazette of the
Republic of Slovenia, No.9/11, 8/15, 66/18 and 44/22 - ZVO-2) also defines a daily limit concentration of PM
10
for the
protection of humans, which is 50 μg/m3 and may be exceeded at a maximum of 35 times at a single measuring
point during the year. Exceedances were recorded at measuring point No 2 – direction Bertoki, namely 18 times, at
measuring point Ankaran-Rožnik once, and at the location of the Passenger Terminal six times.
Higher PM
10
values and the most exceedances were measured at the measuring point in the direction of Bertoki.
We note that the increase in particulates is due to the close proximity of construction sites, as a new car storage
area was being developed and a new truck terminal was being built in 2023.
Results of PM
10
measurement (in μg/m3) at the edges of the port
2021
2022
2023
Monitoring point No 3 – LKP Ankaran
15
16
14
Monitoring point No 2 – towards Bertoki
17
21
22
Monitoring point 4 No – LKP Koper
16
16
14
.
Exceeding daily limit values across Slovenia
A comparison of measurements carried out by The Slovenian Environment Agency in different locations in Slovenia
shows that daily exceedances of the limit value occur at all measuring points. The nearest monitoring station
67
GRI 305-7
140 Annual report 2023 Long-term sustainability of the natural environment
outside the port is located in Markovec, where the annual average PM
10
concentration was 17 μg/m3 and 12
exceedances of the daily concentration limit were recorded. Most exceedances are generally observed in winter
and are due to higher emissions from domestic combustion sources and meteorological effects such as low wind
speeds and low mixing heights.
Exceedances of the limit value 50 μg m
-3
in 2023 at various monitoring points across Slovenia*
*Source: http://www.arso.gov.si/zrak/kakovost%20zraka/podatki/
Wind rose for 2023
Wind speed is expressed in m s-1. Winds mostly blew from the east and northeast (bora and burin) and from the northwest
(maestral).
JAN
FEB
MAR
APR
MAJ
JUN
JUL
AVG
SEP
OCT
NOV
DEC
TOTAL
Celje hospital
1
9
0
0
0
0
0
0
0
0
1
1
12
Celje Ljubljanska
0
7
0
0
0
0
0
0
0
0
0
1
8
Hrastnik
0
1
0
0
0
0
0
0
0
0
0
0
1
IB Gregorčičeva
1*
3
0
0
0
0
0
0
0
0
0
0
6*
IB Rečica
0*
2
0
0
0
0
0
0
0
0
0
0
2*
Iskrba
0
0
0
0
0
0
0
0
0
0
0
0
0
Koper
2
10
0
0
0
0
0
0
0
0
0
0
12
Kranj
0
5
0
0
0
0
0
0
0
0
0
1
6
Ljubljana Bežigrad
0
10
0
0
0
0
0
0
0
0
1
3
14
Ljubljana Celovška
2
11
0
0
0
0
0
0
0
0
0
3
16
Ljubljana Vič
1
8
0
0
0
0
0
0
0
0
0
2
11
Maribor Titova
0
1
0
0
0
0
0
0
0
0
0
0
1
Maribor Vrbanski
0
0
0
0
0
0
0
0
0
0
0
0
0
Murska Sobota Cankarjeva
5
11
0
0
0
0
0
0
0
0
0
7
25
Murska Sobota Rakičan
0
4
0
0
0
0
0
0
0
0
1
1
6
Nova Gorica Grčna
1
10
0
0
0
0
0
0
0
0
0
2
13
Nova Gorica Vojkova
2
11
0
0
0
0
0
0
0
0
0
1
15
Novo mesto
0
0
0
0
0
0
0
0
0
0
0
0
0
Ptuj
0
5
0
0
0
1
0
0
0
0
0
2
8
Trbovlje
0
4
0
0
0
0
0
0
0
0
0
3
7
Velenje
0
0
0
0
0
0
0
0
0
0
0
0
0
Zagorje
0
4
0
0
0
0
0
0
0
0
0
1
5
Žerjav
0
0
0
0
0
0
0
0
0
0
0
0
8
Long-term sustainability of the natural environment Annual report 2023 141
Comparison of annual PM
10
concentrations in the port and some other monitoring points across Slovenia*
*Source: http://www.arso.gov.si/zrak/kakovost%20zraka/podatki/
The data for 2023 has not yet been finally confirmed by the Slovenian Environment Agency.
Results of measurement of particles up to 2.5 µm (PM2.5)
At two locations in the port (Monitoring point No 4 - LKP Koper and Monitoring point No 3 - LKP Ankaran), PM
2.5
particles are also monitored. The results are presented in the table below. The average annual concentrations of
PM
2.5
at the two measuring points in the port are below the regulatory value of 20 μg/m3 (Decree on ambient air
quality (Official Gazette of the Republic of Slovenia, No9/11, 8/15, 66/18 and 44/22 - ZVO-2)).
Results of PM
2.5
(in μg/m3) measurement at the edges of the port
2021
2022
2023
Monitoring point 4 No – LKP Koper
11
12
12
Monitoring point No 3 – LKP
Ankaran
11
12
11
Annual concentrations of PM
2.5
particles at various monitoring points in Slovenia and at the edges of the port in
2023
Source: http://www.arso.gov.si/zrak/kakovost%20zraka/podatki/
142 Annual report 2023 Long-term sustainability of the natural environment
PM
2.5
measurements within the port area are comparable to other urban areas in Slovenia. Iskrba in the Kočevsko
Region is a monitoring point that represents a location with minimal impacts, being distant from all sources.
We also obtained online data from the port of Los Angeles, where, between January and August 2023, the PM
10
particle concentration was between 15 and 28 μg/m3. There, the statutory annual limit is lower, only 20 μg / m3
(https://www.portoflosangeles.org/environment/air_quality.asp). PM
2.5
concentrations ranged between 3 and 7
μg/m3 (limit value 12 μg/m3), which is lower than measured in the Port of Koper or elsewhere in Slovenia.
19.8.4 Emissions of substances at key sources
68
Results of particulate matter emissions measurement at key sources in the port
These measurements are prescribed in the environmental permit No 35444-2/2016-13 of 15 Jun 2017 and
amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022 and are carried
out by an authorised organisation, the National Laboratory of Health, Environment and Food, in the immediate
vicinity of the source of the stationary installation where dust may be generated (e.g. during loading/unloading of
wagons, lorries). There are several monitoring points at each terminal. The number of measurements varies from
year to year, either due to the volume and type of throughput, or due to changes in legislation. Limit values depend
on the mass flow rate and consequently on the weather. The results are all compliant with the granted
environmental permit. The limit value for particulate matter concentration is 20 mg/m3, as the total dust mass flow
rate is equal to 200 g/h.
Results of annual measurement of particulate matter emissions at varying sources
Presentation of the results of measuring emissions from combustion plants used for technological purposes
In the port area, there are combustion plants used for technological purposes that still use fossil fuels. The
combustion plant for heating the tanks in the facility for collecting marine oils, i. e. the bilge plant, is not in operation
as there is no need to operate it. The results of the operational monitoring of the quality of exhaust gases from
these installations are presented in the tables below and are in accordance with the environmental permit No
35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-
10 of 27 May 2022. The limit values shown are taken from the environmental permit referred to above.
68
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Long-term sustainability of the natural environment Annual report 2023 143
Results of the measurement of atmospheric emissions and prescribed limit values of medium combustion plants
used for timber drying at the wood terminal
Substance
Maximum value
Mean value Limit
value
Limit value
mg/m3
mg/m3
mg/m3
Carbon monoxide
86
65
80
Nitrogen oxides expressed as
NO2
94
84
100
Sulphur oxides expressed as
SO2
<LOQ
<LOQ
35
LOQ…the measured value is below the determination limit of the analytical method
Results of the measurement of atmospheric emissions and prescribed limit values of medium combustion plants
used for heating tanks at the liquid cargo terminal
Substance
Maximum value
Mean value Limit
value
Limit value
mg/m3
mg/m3
mg/m3
Carbon monoxide
30
23
100
Nitrogen oxides expressed as
NO2
96
91
200
Sulphur oxides expressed as
SO2
<LOQ
<LOQ
35
LOQ…the measured value is below the determination limit of the analytical method
Presentation of the results of measuring emissions from combustion plants used for sanitary purposes
In the port area, there are 11 boiler rooms where fuel oil or liquefied petroleum gas (LPG) is used as primary or
reserve energy source for the purposes of heating facilities and preparation of hot sanitary water. Emissions from
these devices are checked by the chimney sweeping service. The results of atmospheric emissions are in
compliance with the legislation for small combustion plants (Decree on the emission of substances into the
atmosphere from small combustion plants (Official Gazette of the Republic of Slovenia, No46/19 and 44/22 - ZVO-
2).
19.8.5 Implementation of improvement programmes for emissions/immissions from
port operations
In 2023, the following was implemented:
• ESI Environmental Ship Index introduced as of 1 January 2023, ESI Portal
(environmentalshipindex.org),
• Complete purchase of a dry bulk cargo grab at the dry bulk terminal,
• Replacement of a 12t loader with a high dump bucket at the dry bulk terminal,
• Activities to purchase a clamshell grab for the handling of soya beans at the dry bulk terminal,
• Protection at the KŽ 33 ship-to-shore crane at the bulk cargoes terminal,
• Complete modernisation of dust suppression spraying on the MD3 bridge crane at the bulk cargoes
terminal (completion of installation and user training),
• Restoration of the corrosion protection of the tanks at the liquid cargoes terminal.
144 Annual report 2023 Long-term sustainability of the natural environment
The following was not implemented in 2023:
• Finalise activities to purchase a clamshell grab for the handling of soya beans at the dry bulk
terminal,
• Installation of dust protection walls of the loading area next to the grain silo at the dry bulk
terminal.
19.8.6 Improvement programmes for emissions/immissions from port operations for
2024
The following will be implemented in 2024:
• Complete delivery of a clamshell grab for the handling of soya beans at the dry bulk terminal,
• Installation of dust protection walls of the loading area next to the grain silo at the dry bulk
terminal,
• Reconstruction of dust suppression spraying on the combination machine at the bulk cargoes
terminal.
19.8.7 Climate change, and related opportunities
69
The risk management system is described in more detail in Chapter 14 ‘Managing risks and opportunities’. The
planned activities and guidelines are integrated into the Company's strategic and annual plans. Objectives and
indicators related to climate change are shown in Chapters 19.8.8 ‘Results of greenhouse gas emissions’ and 19.11
‘Energy use and energy efficiency’ and are checked quarterly.
The Company’s operations can have positive or negative impacts, the latter when not implementing measures to
achieve greater energy efficiency, using renewable energy sources, or following modern technologies. The
Company's impacts on greenhouse gas emissions are negligible at the global level, but significant at the local and
national levels, as they contribute to achieving national greenhouse gas emission targets. Although the Company
is not a member of associations or alliances addressing climate change, its employees are regularly trained and
educated in this field. A short animated film was also made for a simple presentation of activities for the rational
use of energy and resources.
The identified climate risks and opportunities have not changed the Company's business model, whereas the
Company's strategy has already been adjusted and is also oriented towards energy efficiency, emission reduction
and resource efficiency, and the use of renewable energy sources. We are aware of the opportunities associated
with the efficient use of resources, which also leads to savings. It is known that trees play an important role in
capturing carbon dioxide (CO
2
) from the air, therefore, we plant them in the port where possible, thus at least
partially compensating for land use changes when carrying out port expansions.
In our operation, we need drinking water for sanitary and technological purposes, which is described in more detail
in Chapter 19.12 - ‘Drinking water and groundwater management’. When developing new areas, we build at the
appropriate height, taking into account the flood risk. With regard to human resources, we estimate that due to the
rise in atmospheric temperature, it may be necessary to adjust the way of working outdoors in the future.
In the future, based on the adopted National Energy and Climate Plan and the European Green Deal, we can expect
that we will have to accelerate the transition to alternative drives. Energy and climate targets are basically set at
the EU level, i.e. as targets to be achieved by the EU as a whole. In the Company's strategic documents, we are
committed to achieving targets at the level of the Republic of Slovenia.
69
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Long-term sustainability of the natural environment Annual report 2023 145
Targets for reducing greenhouse gas emissions at EU and national level
Source: Integrated National Energy and Climate Plan of the Republic of Slovenia (NEPN)
Countries such as the Republic of Slovenia, which have a relatively small energy system and a high initial share of
RES, find it much more difficult to progress than others (even in the case of greater potentials and available financial
resources), as a low share of RES in transport requires much higher shares in heat and electricity, which are often
also unattainable. The introduction of RES in transport is extremely demanding in technical terms, as it is limited
by various standards (distributors have to mix biofuels into fuels, e.g. a maximum of 7 percent of biodiesel can be
mixed into diesel). By 2028, we plan to have installed in the port solar PV plants with the capacity of approximately
7 MWp in order to generate up to 21 percent of electricity for own consumption. By 2030, we plan to have installed
solar PV plants with the capacity of approximately 10 MWp, which represents about 35 percent of the current
electricity consumption of the entire port. With the gradual electrification of ground equipment, the construction of
the 110 kV Luka Koper, d. d. transformer station, and the consequent increase in the port's connected load, thus
enabling increased electricity production from solar power plants, we expect to meet the target of 27 percent
energy consumption from renewable sources as defined for the Republic of Slovenia.
Regarding the achievement of the energy efficiency target (EE), we are currently recording and calculating the
effects of already implemented activities (in %) compared to the reference year 2007, as our strategic guidelines
are aimed at the target set for the Republic of Slovenia (at least 35 percent). With regard to EE, an ISO 50001-
compliant energy management system was introduced in 2020, we will continue to implement energy audits, we
have classified port facilities into energy classes, and have been reducing the proportion of transhipment equipment
powered by internal combustion engines.
The Company has identified the following climate risks and opportunities:
• Tightening the environmental policy requirements at the EU and national level,
• Sea level rise,
• Drinking water shortage,
• Storms and extreme weather events,
• Rising average temperatures and their impact on working conditions,
• Reduced throughput of some commodity groups due to climate change,
• Opportunity for increased demand or acquisition of some new commodity groups,
• Opportunity for energy efficiency savings.
The risk of storms and extreme weather events materialised several times in 2023. Due to extreme weather events
such as wind and heavy rainfall, we suffered damage and an employee was injured due to a lightning strike, but
there were no environmental impacts. In 2024, we will prepare a landscaping project to prevent future flooding in
the port. We are working with the Slovenian Environment Agency with regard to sudden winds ahead of storms, as
we would like to receive more accurate weather forecasts, and we have updated our internal instructions for action.
146 Annual report 2023 Long-term sustainability of the natural environment
Risk description
Type of risk
Time horizon
Probability
Consequences
Response methods
Tightening of environmental
policy requirements at the
level of the EU and Slovenia
to reduce emissions and
mitigate climate risks
Environmental
policy
transition risk
and legal
risks
Long term
10 years
Medium
- Emission allowance
payments for large energy
consumers
- Penalties in case of non-
compliance with emission
commitments
- Energy price increase
(10%) would result in EUR
1.2 million additional
energy costs
- ISO 50001 compliant energy
management system
- Agreement with ELES electric
power transmission company on
the construction, co-financing and
investments sharing of a connection
line to the port
- Construction of Luka Koper, d. d.,
110,000 V transformer station (EUR
9.8 million)
- Construction of infrastructure to
enable ships in the port to connect
to the electricity grid (EUR 96
million)
- Construction of solar power plants
(EUR 10 million over the next 5
years)
- Gradual replacement of
equipment and vehicles with more
environmentally acceptable ones
(EUR 60.3 million for equipment by
2032). Total value of vehicles or
machinery taken into account.
For ground equipment, the value
also includes the construction of
charging infrastructure.
Storms and extreme
weather events
Physical risk
(acute)
Medium-term
(5 years)
Very high
In the event of major
disasters and consequent
water ingress into
warehouses and strong
windstorms, damage may
amount up to EUR 1.2
million. Costs also include
damage to goods and
interruptions of work due
to wind.
- Insurance (EUR 1.5 million
insurance premium per year)
- Update of wind metering systems
and notification systems
- Action to be taken in accordance
with the instructions on preventive
measures and measures in case of
emergency weather conditions
- Preparation of a proposal with a
set of additional measures to
protect against extreme weather
phenomena
- Costs of installing additional
cleats
Sea level rise
Physical risk
(chronic)
Long-term
(10 years)
Low
Assuming sea level rise,
adaptation costs would be
high. The Company
currently lacks sufficient
information to quantify the
risk.
- Construction in accordance with
the national spatial plan, which
defines the elevation requirements
for the different parts of the port.
Drinking water shortage
Physical risk
(chronic)
Medium-term
(5 years)
High
The scarcity of natural
resources can lead to a
rise in the price of these
commodities or to the
inability to supply ships
with drinking water. A 10-
percent increase in water
prices would mean an
increase in costs for Luka
Koper d. d. of EUR 0.1
million.
- Rehabilitation of the internal
water supply network
- Use of sea water in firefighting
- Shortage contingency plans in
place
Long-term sustainability of the natural environment Annual report 2023 147
Rising average
temperatures and their
impact on working
conditions
Physical risk
(chronic)
Medium-term
(5 years)
Medium
The company currently
lacks sufficient
information to quantify the
impact of rising average
temperatures on
productivity.
- Procurement of mobile equipment
with air conditioning
- Ensuring adequate premises for
the protection of employees
- Cold drinks and distribution to
work sites
Reduction of transhipment
of certain commodity groups
due to regulatory
requirements,
environmental targets and
changes in consumer
behaviour
Transition risk
– market risks
Medium-term
(5 years)
Medium
The most exposed
commodity groups are
thermal coal and alumina.
The estimated impact is a
loss of annual revenue of
EUR 1 million
- Search for alternative commodity
groups and commodity streams
- Monitoring of market conditions.
Type of
opportunity
Time horizon
Probability
Consequences/Benefits
Response methods
Increase in
transhipment of
some new product
groups due to
regulatory
requirements,
environmental
targets and
changes in
consumer
behaviour
Market
opportunity
Medium-term (5
years)
High
Opportunities are
emerging for transhipment
of semi-steel products,
wind turbines, solar
panels, batteries, electric
cars. Opportunities
represent EUR 6 million
additional revenue per
year.
- Marketing activities to
acquire new business.
Energy efficiency
savings
Efficient use of
resources
Medium-term (5
years)
Very
High
In 2030, the estimated
savings at the annual level
will amount to EUR 1.6
million and GHG emissions
will be lower by 3,200
metric tons. On average,
the cost of energy in the
transition from fuel to
electricity is reduced by
EUR 50,000 per year per
each RTG crane.
- Construction of solar power
plants on the roofs of
warehouses (with a total
capacity of 10MWp and a
total investment cost of EUR
10 million by 2030)
- Gradual replacement of
ground equipment and
vehicles (EUR 60.3 million
for equipment by 2032).
Taking into account total
value of vehicles or
machinery and the
construction of charging
infrastructure.
- Electrification of rubber
tyre gantry cranes (RTGs)
amounting to EUR 6.2 million
(taking into account the
difference between the
purchase of diesel-powered
RTGs and electric-powered
eRTGs and the construction
of the electricity
infrastructure).
148 Annual report 2023 Long-term sustainability of the natural environment
19.8.8 Greenhouse gas emissions calculation
70
The gases discussed below additionally include carbon dioxide (CO
2
), methane (CH
4
), and nitrous oxide (N
2
O),
produced as a result of fuel combustion to power the port machinery, fuel consumption for heating, and, indirectly,
use of electricity for processes in the port. In order to compare and add up the different greenhouse gases, they
must first be multiplied by their global warming potential (GWP), which is expressed as a ratio to the greenhouse
effect of CO
2
.
The calculation follows the methodology, requirements and guidelines of the Greenhouse Gas Protocol and
Corporate Accounting and Reporting Standard (hereinafter: GHG Protocol), which is the most widely used
international tool for measuring, reporting and managing GHG emissions. The GHG Protocol, developed by the
World Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD), is a neutral
methodology for calculating GHG emissions or carbon footprint and is compatible with most existing GHG
programmes and their accounting and reporting requirements. In addition to the requirements of the GHG Protocol,
the requirements of ISO 14064-1:2018: Greenhouse gases - Part 1: Specification with guidance at the organisation
level for quantification and reporting of greenhouse gas emissions and removals have been taken into account in
the development of the methodology.
An organisation's carbon footprint is reported in three scopes according to the GHG Protocol, as follows:
• Scope 1 represents the direct GHG emissions of the organisation resulting from its own energy
consumption in combustion plants, the use of vehicles owned by the organisation, process emissions
and fugitive emissions of greenhouse gases (so-called F-gases: hydrofluorocarbons (HFCs),
perfluorocarbons (PFCs) and sulphur hexafluoride (SF6)). Scope 1 takes into account direct emissions
from sources owned or controlled by Luka Koper d. d. (e.g. boilers, harbour machinery, vehicles, etc.),
and includes the consumption of all combustion fuels, fuels for machinery, machinery and vehicles, as
well as fugitive emissions from air-conditioning and other installations. With regard to cooling and air-
conditioning equipment and devices containing fluorinated (ozone-depleting, HFC) greenhouse gases,
423 kg of leakages were recorded in 2023, an increase of 48% compared to 2022.
• Scope 2 emissions are indirect emissions from the consumption of electricity for the operational needs
of Luka Koper, d. d. Scope 2 emissions are indirect because they do not physically occur within the
organisation, but at third-party producers of network energy products or where electricity or
heat/cooling energy is generated. In the case of Luka Koper, d. d., Scope 2 covers emissions from the
purchase of electricity from suppliers and from own generation at solar power plants. The calculation
uses the national electricity emission factor for the year under consideration published by the Jožef
Stefan Institute in Ljubljana and not the factor provided by the electricity supplier as these are subject to
change and thus the factors vary (i.e. the location-based method of calculation is chosen rather than the
market-based method).
• Scope 3 comprises the remaining indirect emissions resulting from the Company's activities along the
entire value chain of the organisation, namely the supply chain (upstream emissions) and the
distribution chain (downstream emissions).
Due to requests from some stakeholders to also report Scope 3 GHGs, only the most significant emission sources
have been shown for 2022 and 2023 and assessed against available data and factors, which are further explained
below on an item-by-item basis. For Scope 3, we have limited ourselves to the port area and considered the three
largest sources that result from the operation of the port and are not wholly owned or controlled by the Port of
Koper, d. d.:
• Emissions from trucks entering the port (in calculating the carbon footprint, we took into account the
number of trucks, estimated the average distance travelled in the port at 5 km, assumed an average fuel
consumption of 30 l/100 km and multiplied by the emission factor),
• Emissions from vessels towing ships in and out of port (we multiplied the amount of diesel used by the
emission factor to calculate the carbon footprint),
• Emissions of cargo and passenger ships for the time they are at berth in the port (the number of ships
and their dwell time, the average power of auxiliary engines (6,500 kW for passenger ships and 3,080 kW
for all others), the load factor of auxiliary engines (0.21) and the emission factor for fuel were taken into
account in the calculation).
The emission factors used for the carbon footprint calculation (scopes 1, 2, 3) are taken from publicly available
national data from the Ministry of the Environment, Climate and Energy, Slovenian Environment Agency, and the
70
GRI 305-1, 305-2, 305-3, 305-6
Long-term sustainability of the natural environment Annual report 2023 149
emission factor for electricity is the default of the most recent five-year average factor published by the Jožef Stefan
Institute’s Energy Efficiency Centre.
2021
Total consumption
[MWh/year]
Emission factor
[kgCO2eq/kWh]
Total emissions
[kgCO2eq/year]
Direct emissions (scope 1)
45,956
12,641,253
Motor fuel
45,308
0.267
12,044,000
Light fuel oil
366
0.267
97,826
Liquefied petroleum gas - LPG
125
0.227
28,427
Wood biomass
156
0
0
Greenhouse gases
471,000
Indirect emissions (scope 2)
29,336
9,592,971
Electricity
29,336
0.327
9,592,971
Electricity - own production SPP
243
0
0
TOTAL (1+2)
75,292
22,234,224
2022
Total consumption
[MWh/year]
Emission factor
[kgCO2eq/kWh]
Total emissions
[kgCO2eq/year]
Direct emissions (scope 1)
52,955
14,852,330
Motor fuel
51,165
0.267
13,648,872
Light fuel oil
376
0.267
100,381
Liquefied petroleum gas - LPG
156
0.227
35,445
Wood biomass
1,257
0
0
Greenhouse gases
1,067,631
Indirect emissions (scope 2)
29,617
10,602,850
Electricity
29,617
0.358
10,602,850
Electricity - own production SPP
271
0
0
TOTAL (1+2)
82,572
25,455,179
Other indirect emissions (scope 3)
72,385
19,326,868
Emissions from trucks entering the port
5,989
0.267
1,599,027
Emissions from towing vessels
14,439
0.267
3,855,276
Ship emissions while at berth in port
51,957
0.267
13,872,565
TOTAL (1+2+3)
154,957
44,782,047
2023
Total consumption
[MWh/year]
Emission factor
[kgCO2eq/kWh]
Total emissions
[kgCO2eq/year]
Direct emissions (scope 1)
51,966
15,173,788
Motor fuel
49,903
0.267
13,312,183
Light fuel oil
336
0.267
89,685
Liquefied petroleum gas - LPG
169
0.227
38,279
Wood biomass
1,558
0
0
Greenhouse gases
1,733,641
Indirect emissions (scope 2)
32,951
11,796,438
Electricity
32,951
0.358
11,796,438
150 Annual report 2023 Long-term sustainability of the natural environment
Electricity - own production SPP
325
0
0
TOTAL (1+2)
84,917
26,970,226
Other indirect emissions (scope 3)
67,174
17,935,492
Emissions from trucks entering the port
6,342
0.267
1,693,217
Emissions from towing vessels
13,862
0.267
3,701,121
Ship emissions while at berth in port
46,971
0.267
12,541,154
TOTAL (1+2+3)
152,091
44,905,718
In 2005, Luka Koper, d. d. generated 16,637,111 kgCO2eq for its operations, and in 2023, 26,970,226 kgCO2eq, which
means a 62.1-percent increase in GHG emissions compared to an 84.3-percent increase in shipping compared to
the base year 2005. Scope 3 emissions were 7.2 percent lower in 2023 compared to the 2022 base year. Specific
GHGs emissions (scope1, 2) in 2023 were 1,304 kgCO2eq/t of transhipped goods.
Based on efficient energy use and further investments in obtaining renewable energy sources, Luka Koper, d. d.,
will follow the National Energy and Climate Plan target for reducing greenhouse gas emissions. The baseline
specific value was set to the value of emissions per metric ton of goods transhipped in 2017, when this amount was
reported for the first time in the GRI report.
Greenhouse gas emissions
Total emissions (Scope 1, 2) increased by 6.0 percent in 2023 compared to the previous year, despite a 2.8-percent
decrease in transhipment volumes, mainly due to higher electricity consumption. The set specific target value was
exceeded in 2023.
19.8.9 Volatile compound emissions measurement
71
Results of volatile compound emissions measurement
The main source of diffuse emissions of volatile compounds in Luka Koper, d. d., includes varying handling activities
on the liquid cargoes terminal (e.g. filling and emptying mobile or stationary reservoirs, breather valves on
reservoirs). As reservoirs have no standard stack to discharge waste gases into the atmosphere, measurement is
not possible. However, using software developed by the United States Environmental Protection Agency (EPA), an
authorised person can calculate the annual emissions of volatile compounds. In the calculation process, the
characteristics of the reservoirs, the type and amount of the material stored, and meteorological data are
considered. No limit values are stipulated.
71
GRI 305-7
Long-term sustainability of the natural environment Annual report 2023 151
Annual losses of volatile compounds from reservoirs on the liquid cargoes terminal
In 2023, annual losses of volatile compounds from reservoirs on the liquid cargoes terminal included gas oil with
2,076.7 kg, o-Xylene with 0 kg, jet fuel with 4,361.2 kg, and methanol with 859 kg.
The liquid cargoes terminal also houses a cryogenic cooling device (VRU-vapor recovery unit) designed to contain
vapours generated during the loading of wagons and trucks. Measurements of atmospheric emissions from the
said treatment plant were within the legal limits (Decree on the emission of substances into the atmosphere from
stationary sources of pollution (Official Gazette of the Republic of Slovenia, No 31/07, 70/08, 61/09, 50/13, 44/22 –
ZVO-2 and 48/22)). The results are presented in the table below and are in accordance with the environmental
permit No 35444-2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-
4/2021-2550-10 of 27 May 2022. The limit values shown are taken from the environmental permit referred to above.
Results of the measurement of atmospheric emissions of the VRU unit at the liquid cargo terminal and
prescribed limit values
Substance
Maximum value
2021
Mean value
2021
Limit value
mgC/m
3
gC/h
mgC/m
3
mgC/h
mgC/m
3
TOC*
2.8
0.1
2.8
0.1
50
Methanol
7.5
0.4
7.4
0.4
20
*Total organic carbon
Substance
Maximum value
2022
Mean value
2022
Limit value
mgC/m
3
gC/h
mgC/m
3
mgC/h
mgC/m
3
TOC*
2.8
0.1
2.6
0.1
50
Methanol
18.02
0.9
18.02
0.9
20
*Total organic carbon
Substance
Maximum value
2023
Mean value
2023
Limit value
mgC/m
3
gC/h
mgC/m
3
mgC/h
mgC/m
3
TOC*
47.6
2.8
42.1
2.5
50
Methanol
25
1.5
14.9
0.9
20
*Total organic carbon
152 Annual report 2023 Long-term sustainability of the natural environment
19.9 Waste management
72
Various wastes are generated during the operation of the port and are collected separately in Luka Koper and
recycled or handed over to authorised organizations. Within the port, waste collection is mainly carried out by Luka
Koper INPO, d. o. o., which is part of the quality system of Luka Koper, d. d. It is bound by its contract with the parent
company, legislation and annual internal audits to ensure waste management compliance. All waste collected is
then transported from the port to the contractual and authorised collectors. Contractual partners have provisions
in the contract that oblige them to ensure proper environmental management of waste, although they are already
obliged to do so under the Decree on waste (Official Gazette of the Republic of Slovenia No 77/2022).
Three groups of waste are generated in the port:
• Waste from port activity (e.g. cargo residues, waste wood, packaging and metal, mixed municipal waste,
construction waste);
• Other waste in the port area (waste generated by the users of the economic zone); and
• Ship-generated waste left by the ships berthed at the port of Koper (e.g. sewage, oiled water, kitchen
waste, waste packaging, medicines, ash, mixed municipal waste).
We have no influence on the type and quantity of packaging waste, as we are not the owner of the cargo. With the
company's focus on car and container throughput, the type and volume of waste will decrease over time, as these
two commodity groups generate little packaging waste. We also have no influence on the amount and type of waste
generated on board, as we have no competence there. Ships that have waste incineration or other systems in place,
submit smaller quantities and fewer types of waste. It is our duty to take waste and ensure that it is managed in a
way that minimises its impact on the environment. Separate waste collection containers are provided for all
stakeholders in the port area, and some types of waste are reused (e.g. paper, some types of plastic, scrap iron).
We have established better, centralised IT support for waste record-keeping in the port, which will be further
upgraded in the future with the automatic transfer of data obtained during the weighing of received waste.
Luka Koper, d. d., also performs the compulsory national public utility service of collecting waste from vessels.
Luka Koper, d. d., has subcontracted its subsidiary Luka Koper INPO, d. o. o. for the provision of this service. There
is also the Waste Management Centre, which was built in 1997 and is also managed by the subsidiary Luka Koper
INPO, d. o. o. In the Centre extending over the area of 12,700 m2, waste is collected and further sorted as needed.
The waste from vessels is handed over to authorised organizations for further processing. Thus, we care for
cleanliness and improvement in environmental image, thereby increasing the economic efficiency of our
operations. Generally, we insist on separate collection of waste already at its source, i.e. at terminals, by users of
the economic zone and on ships. At the same time, we are looking for solutions to reuse or valuably use the waste
generated. Such solutions have already been implemented for the use of paper sludge to reduce dust from coal
and iron ore storage, the use of waste coal for heat production and the reuse of certain fractions of construction
waste.
Improper waste management at the port can lead to emissions into waterways, dust emissions into the air and
fires. Potential impacts from waste management are managed by ensuring adequate waste management areas
with proper rainwater drainage, installed treatment plants, installed fire detection sensors, installed dust and noise
emission monitoring devices, continuous equipment upgrading, implementing control, etc.
Procedures for collecting, recording and monitoring waste data:
• The collection of ship-generated waste and most land-based waste is handled by Luka Koper's subsidiary,
Luka Koper INPO, d. o. o., with which Luka Koper, d. d. has a contract.
• If the subsidiary Luka Koper INPO, d. o. o. is unable or not allowed to take over the waste, it shall be
transferred to another receiver with the appropriate permit. In this case, the subsidiary Luka Koper INPO,
d. o. o. can act as an intermediary, for which it has a certificate of entry in the register of intermediaries
No 35471-52/2010 of 3 Jun 2010, and the authorised organisation collects them at the place of origin.
Alternatively, Luka Koper d. d., as the generator, can arrange for the waste to be handed over to an
authorised organisation.
72
GRI 3-3, 306-1, 306-2
Long-term sustainability of the natural environment Annual report 2023 153
• In accordance with the Decree on waste (Official Gazette of the Republic of Slovenia No 77/2022), electronic
record sheets are kept for waste, tracking the waste trajectory while being located in the IS Odpadki web
application. The app also enables statistical tracking.
• For land-based waste, the subsidiary Luka Koper INPO, d. o. o. issues a waste delivery/receipt certificate
on an internal form upon receipt of the waste, and for ship-based waste it issues a ship waste delivery
certificate on an internal form upon receipt of the waste, which is also attached to the invoice.
• Weighing sheets are also kept for land-based waste received.
• For land-based waste, an internal Excel spreadsheet of all land-based waste by month and by year is
maintained by the Health Protection and Ecology Department.
• The subsidiary Luka Koper INPO, d. o. o. also keeps an Excel daily record of the occupancy of the Waste
Management Centre and the bilge plant.
• Solid non-hazardous waste is collected temporarily at the port Waste Management Centre in boxes,
containers or bins after collection on site. Liquid hazardous waste is collected at the bilge plant in fixed
closed tanks, while other hazardous waste is collected in dedicated containers at the Waste Management
Centre - Hazardous Waste Storage Area. All waste is managed in accordance with the Decree on waste
(Official Gazette of the Republic of Slovenia, No 77/2022).
Waste Management Centre
Photo: Matevž Bregar
The centre does not store combustible waste outdoors.
Waste Management Centre – hazardous waste storage facility
Photo: Matevž Bregar
The Waste Management Centre has an area for the pre-storage of hazardous waste (e.g. paint residues, varnishes,
waste medicinal products from ships, batteries, oiled cloths, ash from ships, absorbents, etc.) that is generated in
port area or taken over from ships. We forward those to authorised organisations.
The subsidiary Luka Koper INPO, d. o. o., collects marine oils at the bilge plant and hands them over to authorised
organisations. For this activity, it is registered as a collector of this waste in the register of waste collectors under
No 35469-54/2011-11 of 24 Sep 2012. There is also a process underway to increase the storage capacity of the
facility.
154 Annual report 2023 Long-term sustainability of the natural environment
As the bilge water collection facility and the Waste Management Centre contain hazardous waste which may lead
to environmental pollution on a large scale (IED plant), in 2021, Luka Koper INPO, d .o. o. obtained permit No 35407-
4/2020-14 of 16 July 2021 for both facilities.
Luka Koper, d. d. also has an environmental permit (No 35444-2/2016-13 of 15 Jun 2017 and amendments No
35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022) for the transhipment and temporary
storage of scrap metals, wastepaper, waste plastic and mill scale. Waste plastic, wastepaper, and mill scale have
never been handled in the port.
Most of the waste originates from EU countries, and to a lesser extent from non-EU countries In the port of Koper,
goods or cargo, in this case waste, are explicitly stored only until the arrival of the ship. To the Company, goods or
waste represent cargo like any other that travels through the port, where the Company acts only as one of the links
in the transport and logistics chain. The scrap metals that are transhipped are classified as non-hazardous waste.
In 2023, a total of 68,567 metric tons of scrap metals of classification numbers 19 12 02 (ferrous metals) and 17 04
05 (iron and steel) were handled. The total quantities of scrap metals in 2023 increased compared to 2022, but
within the permissible quantities defined in the environmental permit. We have detected in some shipments of
scrap metals other metallic wastes not classified as scrap metals under classification numbers 19 12 02 (ferrous
metals) and 17 04 05 (iron and steel). For the fractions separated, we made an assessment of the waste and
returned part of it to the consignor and part of it to another authorised waste handler.
In 2023, we submitted an application to the Ministry to amend the existing environmental permit by introducing an
additional metal waste treatment process at the existing site using the mechanical process R12 - Exchange of
wastes for submission to any of the operations numbered R1 to R12, but the application has not yet been processed.
Shipments of scrap metals were measured for radioactivity with the aim of verifying their legality. Also, records
were kept on the shipments, dust emissions were recalculated, and waste rainwater emissions were measured.
Luka Koper, d. d., also holds an environmental permit, No 35444-2/2016-13 of 15 Jun 2017, for the R3-type
processing of scrap paper pulp, which is mixed with water and applied over coal and iron ore to reduce dust. In
2023, 986.52 tons of paper pulp were used, a few tons less than in the previous year and within the quantities
allowed by the environmental permit.
19.9.1 Results in waste management
73
A total of 18,837 tons of waste was collected in the port area in 2023, including 4,445 tons of port waste (417 tons of
hazardous waste, 3,758 tons of non-hazardous waste, 270 tons of mixed municipal waste), 2,628 tons of ship-
generated waste (1,807 tons of hazardous waste, 698 tons of non-hazardous waste, including 123 tons of mixed
municipal waste), and 11,764 tons of construction waste. The amount of port and ship waste has increased
compared to 2022 (Figure 41). The amount of construction waste has decreased compared to 2022.
Year
2021
2022
2023
Waste type
in metric tons
Port waste
3,670
4,177
4,445
Hazardous
481
271
417
Non-hazardous
2,954
3,639
3,758
Mixed municipal waste
235
267
270
Ship-generated
waste
1,571
2,456
2,628
Hazardous
849
1,307
1,807
Non-hazardous
613
1,027
698
Mixed municipal waste
109
122
123
Construction waste
Hazardous
0
0
0
Non-hazardous
10,053
13,081
11,764
Total
15,294
19,714
18,837
Collected hazardous and non-hazardous waste is handed over from the Waste Management Centre and the bilge
facility for subsequent management to specialized companies that have the appropriate permits for transport,
processing or disposal of waste and are entered in the lists of the Slovenian Environment Agency (ARSO).
73
GRI 306-1, 306-2, 306-3, 306-4, 306-5
Long-term sustainability of the natural environment Annual report 2023 155
Breakdown of port, ship-generated and construction hazardous and non-hazardous waste by recovery or disposal
operations for 2023
Port waste
Ship-generated waste
Construction waste
TOTAL
NO
N-
HA
ZA
RD
OU
S
WA
ST
E
Metric
tons
Metric
tons
Metric
tons
Metric tons
Preparation for
reuse
0
Not applicable
0
Not applicable
819
Recovery
according
to R10 -
NOT TO BE
DISPOSED
OF
819
Recycling
566
Recovery
according to
R3, R12, R13 -
NOT TO BE
DISPOSED OF
0
Not applicable
10,945
Recovery
according
to R5, R12,
R13 - NOT
TO BE
DISPOSED
OF
11.511
Other recovery
operations
1,613
Recovery
according to
D9,13, R0302 -
NOT TO BE
DISPOSED OF
0
Not applicable
0
Not
applicable
1.613
Incineration
0
Not applicable
0
Not applicable
0
Not
applicable
0
Landfill disposal
270
D1 - DISPOSAL
123
D1 - DISPOSAL
0
Not
applicable
393
Other disposal
operations
0
Not applicable
0
Not applicable
0
Not
applicable
0
Other (other
methods of
handling)
1,579
Collection at
specialized
waste
management
companies that
provide
recovery or
disposal
operations -
NOT TO BE
DISPOSED OF
698
Collection at
specialized
waste
management
companies that
provide
recovery or
disposal
operations -
NOT TO BE
DISPOSED OF
0
Not
applicable
2.277
NON-
HAZARDOUS
WASTE
4,028
821
11,764
16,613
Preparation for
reuse
0
Not applicable
0
Not applicable
0
Not
applicable
0
Recycling
0
Not applicable
0
Not applicable
0
Not
applicable
0
Other recovery
operations
125
Recovery
according to
D9,13, R0302 -
NOT TO BE
DISPOSED OF
27
0
152
Incineration
0
Not applicable
0
Not applicable
0
Not
applicable
0
Landfill disposal
0
Not applicable
0
Not applicable
0
Not
applicable
0
Other disposal
operations
0
Not applicable
0
Not applicable
0
Not
applicable
0
Other (other
methods of
handling)
292
Collection at
specialized
waste
management
companies that
provide
recovery or
disposal
operations -
1780
Collection at
specialized
waste
management
companies that
provide
recovery or
disposal
operations -
0
Not
applicable
0
156 Annual report 2023 Long-term sustainability of the natural environment
NOT TO BE
DISPOSED OF
NOT TO BE
DISPOSED OF
HAZARDOUS
WASTE
417
1,807
0
2,072
TOTAL
4,445
2,628
11,764
18,837
Amounts of waste collected at the port
The amount of mixed waste did not change significantly in 2023 compared to 2022 (by approximately 3 t).
Construction waste
In 2023, 11,764 tons of non-hazardous construction waste was generated, a decrease of 1,317 tons compared to the
previous year. The types of construction waste are shown in the graph below.
Amounts and types of construction waste in 2023 in ton
Long-term sustainability of the natural environment Annual report 2023 157
Ship-generated waste
In 2023, 2,628 tons of ship waste were taken over (1,807 tons hazardous, 698 tons non-hazardous, and 123 tons
mixed municipal waste) (figure). Most ship-generated waste is regarded as hazardous waste. Ship-generated waste
accounts for the largest share of hazardous waste in the port. It largely includes bilge oils with varying water
contents, 1st category kitchen waste, oil-soaked wiping cloths, waste batteries, medicine, ash, etc.
Annual amounts of ship-generated waste
Types and shares of ship-generated hazardous waste sorted in 2023
In 2023, the largest share of hazardous marine waste was marine bilge oils (Figure), which were handed over to an
authorised organisation abroad and in Slovenia, and all other hazardous marine waste was handed over to
authorised organisations only in Slovenia.
Separately collected waste in port
The target of 93 percent of waste collected separately was exceeded by almost one percent (see Figure), mainly
due to increased removal of waste from the settling tank at the coal and iron ore terminal, railway sleepers, and
the scrap iron clean-up across the port.
158 Annual report 2023 Long-term sustainability of the natural environment
Share of separately collected waste excluding ship-generated waste
Types of separately collected waste excluding ship-generated waste in 2023
19.9.2 Implementation of waste management improvement programmes
74
In 2023, the following was implemented:
• Continued activities for obtaining permits for grinding port waste wood into wood chips and for their use
for heating purposes;
• Selection of provider and implementation of activities related to the IT solution for monitoring records
for the collection and delivery of waste;
• Activities to modernise the ship bilge water and oil collection facility, and the activity is scheduled to be
completed in 2024;
74
GRI 3-3
Long-term sustainability of the natural environment Annual report 2023 159
• Revision of the Plan for the Receipt of Ship Waste and Cargo Residues in the Port of Koper to meet the
requirements of the new regulation on port facilities for the reception of ship-generated waste (Official
Gazette of the Republic of Slovenia, No 50/2023);
• Revision of the Waste Management Plan in the light of the amendment to the Decree on waste (Official
Gazette of the Republic of Slovenia, No 77/2022);
• Revision of the Waste Management Plan according to recovery operations R3 and R13;
• Submission of application to change the environmental permit regarding recovery of waste.
The following was not implemented in 2023:
• Finalise activities related to the IT solution for monitoring records for the collection and delivery of waste
not completed, as these activities continue in 2024;
• Finalise the modernisation of the ship bilge water and oil collection facility not completed, as the
activities continue in 2024.
19.9.3 Waste management improvement programs in 2024
The following will be implemented in 2024:
• Finalisation of activities related to the IT solution for monitoring the records for waste collection and
disposal (implementation of the programme, testing, etc.);
• Obtaining a permit for increased storage capacity for the ship bilge water and oil collection facility;
• Continued activities for obtaining permits for grinding port waste wood into wood chips and for their use
for heating purposes;
• Purchase of a shredder with output conveyor belts and a magnet for preparing wood chips for the
combustion plant;
• Continued procedures for the construction of a new Waste Management Centre within the port.
19.10 Noise emissions
75
Due to its activity, the port generates noise. In accordance with the strategic guidelines for the development of the
port and the adopted environmental policies, the Company continues its activities to manage and reduce the port’s
noise levels
75
Noise emissions – additional indicator (ref GRI 305-7)
160 Annual report 2023 Long-term sustainability of the natural environment
The required measurements are taken continuously even though the frequency stipulated by law is only once every
three years (Rules on initial measurements and operational monitoring of noise sources and on conditions for their
implementation (Official Gazette of the Republic of Slovenia, No 105/08 and 44/22 – ZVO-2)). Using the right
equipment, an authorised organisation continuously monitors the noise level at three border points of the port,
which is a preventive measure to identify major sources of noise and noise events. We have been the first and only
industrial plant in Slovenia to implement continuous noise measurement, the results of which are displayed on the
port website (http://www.zivetispristaniscem.si/). The meters cover the main activities that generate noise in the
port, such as the transhipment of goods and the use of port machinery. Another noticeable source of noise is ships,
which must always have engines and other devices running to ensure smooth operation. The values shown on the
website are given for information purposes only (as orientation) and do not indicate the noise status in front of the
first residential buildings of Ankaran, Koper or Bertoki, as the measuring devices are installed in the port. They
also measure noise in the vicinity of the measuring device (road noise, human activities, nature sounds, etc.). In
windy and rainy weather, the value increases due to noise caused by the rain and wind. In accordance with the
requirements of the Rules on initial measurements and operational monitoring of noise sources and on conditions
for their implementation (Official Gazette of the Republic of Slovenia, No 105/08 and 44/22 – ZVO-2), an authorised
organisation also carried out periodic measurements in 2022 in front of the first residential buildings around the
port and the results comply with the requirements of the environmental permit for noise emissions from the port
No 35450-18/2022-2550-4 of 4 Apr 2023 and the clean copy of imposition 35450-18/2022-2550-8 of 26 May 2023. A
Noise Reduction Action Plan is created annually. Being aware of the issue of noise spreading from the port area,
we have set targets that are lower than current legislative requirements (Decree on limit values for environmental
noise indicators; Official Gazette of the Republic of Slovenia, No 43/18, 59/19 and 44/22 – ZVO-2) The results of the
2023 noise reduction action plan are shown in Chapter 19.10.1 Noise emission results.
19.10.1 Noise emission results
76
To measure noise, we use state-of-the-art measurement, monitoring and display techniques recommended by
guidelines in this field. Detailed annual noise maps are made, showing noise areas in the port and its immediate
surroundings. The noise map was produced using continuous and short-term measurements and noise
propagation modelling. The noise map is intended to show noise propagation from a complex source, such as the
port of Koper, to the immediate neighbours of the port and the surrounding area. It shows the calculated noise load
based on the data on the sound power of the devices (mostly obtained on the basis of measurements, but partly
calculated from the data on device capacities), as well as the traffic data in the area of Luka Koper, d. d., and the
noise of traffic of the surrounding roads based on the annual average (traffic counting). A noise map gives a clear
graphical representation of the noise load based on the data entered, while also taking into account the impact of
local road traffic from the peripheral port area, which is an important source of noise. The map shows average
annual noise levels of all sources of noise: road traffic, processes in the port, ships and other causes of noise
located outside the port. The port area is classified as Level IV area of noise protection, within which we also monitor
the noise level. In the noise maps, the black dashed line indicates the borders of the area. The immediate
surroundings of the port, i.e. the area outside the port fence, are classified as Level III area of noise protection.
According to noise measurement and maps, the noise from the port most heavily affects the northern edges of the
town of Koper. Therefore, the noise reduction activities that we prepare annually in the noise reduction action plan
are mainly focused on noise reduction in the direction of Koper. In the past, we established a fund together with the
Koper municipality that will allocate funds to improve the soundproofing of the residential buildings. As the
operation of this fund has come to an end, a new agreement on the implementation of mitigation measures for the
76
GRI 413-1, 413-2
Long-term sustainability of the natural environment Annual report 2023 161
period 2024 to 2028 inclusive was adopted by the Management Board of Luka Koper d. d. and the Mayor of the
Municipality of Koper in December 2023. Under the agreement, Luka Koper, d. d. will pay the municipality a grant
of EUR 320,000 per year for the next five years, and the municipality will allocate these funds to the beneficiaries
through a public tender for the implementation of mitigation measures. Noise levels should also be taken into
account when drawing up detailed spatial plans for municipalities and local communities bordering the port.
Daytime and Night-time noise map for 2023
The values of noise levels in the port area, measured at all three fixed site measuring stations (see Figure below),
and the average annual measured values are shown in the table below. It displays the measured values of all noise
sources (road transport, port processes, ships and other noise generators located outside the port, construction
work).
Figure showing the locations of fixed noise measurement stations
Number of berths in port by year
Year
2021
2022
2023
Number of ships
1.551
1.659
1.642
162 Annual report 2023 Long-term sustainability of the natural environment
Average annual noise levels from all sources at the port boundary, measured with fixed site measuring devices
at the port boundary (in dBA)
2021
2022
2023
Towards
Towards
Towards
Towards
Bertoki
Towards
Ankaran
Towards
Koper
Towards
Bertoki
Towards
Ankaran
Towards
Koper
Bertoki
Ankaran
Koper
L
d
=52
L
d
=52
L
d
=60
L
d
=51
L
d
=53
L
d
=62
L
d
=51
L
d
=52
L
d
=62
L
e
=50
L
e
=51
L
e
=60
L
e
=50
L
e
=52
L
e
=61
L
e
=49
L
e
=52
L
e
=62
L
n
=47
L
n
=51
L
n
=59
L
n
=48
L
n
=52
L
n
=60
L
n
=47
L
N
=51
L
n
=60
L
den
=55
L
den
=58
L
den
=65
L
den
=55
L
den
=59
L
den
=67
L
den
=54
L
den
=58
L
den
=67
Key: L
d
– day noise level,
L
e
– evening noise level,
L
n
– night noise level, L
den
– day-evening-night noise level
As internal noise target values to be achieved or maintained in front of the first residential buildings, Luka Koper,
d. d., has set values that include all noise sources from the port:
- Night noise level of 48 dBA,
- Day noise level of 58 dBA,
- Evening noise level 53 dBA.
The results obtained suggest that the night, evening, and day noise in front of the first residential buildings in
Ankaran and Bertoki is within the set targets, and the same applies to the day noise in front of the first residential
buildings of the Koper city centre. However, the targets are not achieved for the night and evening noise level in
front of the first residential buildings in the Koper city centre.
Results of measurements for 2023 (all noise sources in front of the first residential buildings) and compliance
with internal targets
Year 2023
DIRECTION
Unit
Internal
target
Realisation
Achievement of
internal target
Noise level at night in the direction of Bertoki
dBA
48
34
YES
Noise level at night in the direction of Ankaran
dBA
48
44
YES
Noise level at night in the direction of Koper
dBA
48
54
NO
Noise level by day in the direction of Bertoki
dBA
58
38
YES
Noise level by day in the direction of Ankaran
dBA
58
45
YES
Noise level by day in the direction of Koper
dBA
58
56
YES
Noise level in the evening in the direction of
Bertoki
dBA
53
36
YES
Noise level in the evening in the direction of
Ankaran
dBA
53
45
YES
Noise level in the evening in the direction of
Koper
dBA
53
56
NO
The results of the noise level excluding ship-noise in front of the first buildings outside the port are also shown
below. They all demonstrate compliance with the regulatory limit values from the environmental permit No 35450-
18/2022-2550-4 of 4 Apr 2023 and the clean copy of imposition 35450-18/2022-2550-8 of 26 May 2023
Long-term sustainability of the natural environment Annual report 2023 163
Results of the measurements for 2023 (noise excluding ship-noise in front of the first residential buildings) and
compliance with the environmental permit No 35450-18/2022-2550-4 of 4 Apr 2023 and the clean copy of
imposition 35450-18/2022-2550-8 of 26 May 2023
Year 2023
DIRECTION
Unit
Statutory
value
Realisation
Compliance with
the environmental
permit in terms of
noise emissions
Noise level at night in the direction of Bertoki
dBA
55
34
YES
Noise level at night in the direction of Ankaran
dBA
55
41
YES
Noise level at night in the direction of Koper
dBA
55
51
YES
Noise level by day in the direction of Bertoki
dBA
65
38
YES
Noise level by day in the direction of Ankaran
dBA
65
43
YES
Noise level by day in the direction of Koper
dBA
65
53
YES
Noise level in the evening in the direction of
Bertoki
dBA
60
36
YES
Noise level in the evening in the direction of
Ankaran
dBA
60
41
YES
Noise level in the evening in the direction of Koper
dBA
60
52
YES
In 2023, we carried out additional control measurements for the noise meter in the direction of Koper in order to
verify the accuracy of the measurements, which showed that the agreement of the measurements was within the
measurement uncertainty. The authorised contractor also created a model calculation to determine a realistic
target value for the night noise level in the direction of Koper based on known data regarding the used machinery
and traffic until 2027. The results show that the long-term noise levels in front of the exposed facilities at nighttime,
excluding ships, will be lower than 55 dBA.
19.10.2 Implementation of noise control improvement programmes
77
In Luka Koper, d. d., a Noise Reduction Action Plan is devised annually, specifying activities, the persons responsible
for implementation, and deadlines for completion. The outcomes of the 2023 noise reduction action plan are shown
below. In 2023, EUR 1,534,281.18 was spent on these noise reduction activities.
77
GRI 413-1, 413-2
78
CIIS – Critical Incident Information System
Noise reduction plan activity
Completion rate
(%)
Carrying out additional noise measurements in and around the port
100
Keeping the local community informed of the ongoing investment plans
of Luka Koper, d. d., with content to be prepared and coordinated in
cooperation with the health protection and ecology department.
100
Communication with the shipping company in the event of noise-
generating ships on the container terminal (container ships).
100
Communication with the shipping company in cases of noise-generating
Ro-Ro ships (car carriers).
100
Training for employees (in the event of derogation, i.e. excess speed
according to reporting in CIIS
78
) on the internal rules and technological
processes in the container terminal PC.
0
Due to the low number of violations (6
violations per year), there was no need
for instruction, only a warning was
164 Annual report 2023 Long-term sustainability of the natural environment
issued. The activity is continued in the
Action Plan for 2024.
Monitoring the noise level of each vessel berthing at Basin I using the
measurement stations Terminal 3 (Storage facility No 15) and Terminal
4 (former metalworking school).
100
Vibration and ventilation noise measurements at storage facility No 5 at
the reefer terminal.
100
Carrying out the action plan and communication with local communities
of Koper municipality, the municipality of Ankaran and municipality of
Koper in cooperation with the health protection and ecology
department.
100
Redirecting ships that generate more noise to Basins II and III when
possible (depending on the availability of berths, type of ship, and type
of cargo).
100
Regular maintenance of the asphalt base and shafts in the container
terminal handling area – rehabilitation of damaged concrete and
asphalt coastal surfaces, reconstruction of access roads to the coastal
structures.
0
The activity was not carried out due to
the necessary larger scope of work in
other activities and is transferred to the
2024 implementation plan. The activity
is continued in the Action Plan for 2024.
Monitoring of speed (4 times per month) on the container terminal
quayside in the evenings and in night-time, with a focus on terminal
tractors, preparation of reports in CIIS and communication of breaches
to the terminal and the health protection and ecology department.
100
Continuous noise monitoring and reporting to the Management Board
on noise levels and on the implementation of measures from the action
plan for noise reduction in the direction of Koper.
100
Annual funding under the agreement on the implementation of
mitigation measures (installation of additional sound insulation to the
nearest dwellings) in cooperation with the Municipality of Koper.
50
Funds have been awarded. However, we
have not yet received a report on the
rehabilitation from the Municipality of
Koper, as the deadline is 31 Mar 2024.
Control and updating of the ESI - Environmental Ship Index
100
For the entire year 2023, shipowners
(6.5%) included in the ESI system
received EUR 34,532.56 in discounts
Procedures for the siting of the 110-kV electricity network to the port
and the Luka Koper, d. d., transformer station.
100
Performing underwater noise measurements.
100
(Measurements are presented in the
Chapter 19.16 ‘Sea Water Protection’)
Keeping records on the implementation of noise measurements
referred to in point 8 and point 9 of the operative part of the granted
environmental permit No 35450-18/2022-2550-8.
100
Purchase of a total of nine terminal tractors (replacement of worn-out
equipment) for the needs of the container terminal
0
The public procurement procedure
ended without an award, as no tenders
were received. The repetition of the
public procurement is planned for the
beginning of 2024, and the delivery of
tractors until the end of 2024.
Activities related to the construction of the passenger terminal facility.
100
Possibility of "anti-noise" integrated horticultural landscaping in the
direction of Koper and the border part of the port towards Ankaran.
0
In the coming years, the construction of
the passenger terminal building and the
landscaping of the surrounding area will
be carried out on the passenger
terminal site.
In the direction of Ankaran, trees and
shrubs will be planted at the port
boundary alongside the construction of
the storage areas of the last cassette.
Long-term sustainability of the natural environment Annual report 2023 165
19.10.3 Noise control improvement programmes scheduled for 2024
79
These activities are part of the annual Noise Reduction Action Plan:
- Carrying out additional noise measurements in and around the port (three-week measurements in the
Ankaran area);
- Keeping the local community informed of the ongoing investment plans of Luka Koper, d. d., with content
to be prepared and coordinated in cooperation with the health protection and ecology department;
- Communication with the shipping company in the event of noise-generating ships on the container
terminal (container ships);
- Communication with the shipping company in cases of noise-generating Ro-Ro ships (car carriers);
- Additional training for employees (in the event of derogation, i.e. excess speed) on the internal rules and
technological processes in the container terminal PC;
- Monitoring the noise level of each vessel berthing at Basin I using the measurement station Terminal 3
(Storage facility No 15);
- Vibration and ventilation noise measurements at storage facility No 5 at the Reefer Terminal;
- Carrying out the action plan and communication with local communities of Koper municipality, the
municipality of Ankaran and municipality of Koper in cooperation with the health protection and ecology
department;
- Redirecting ships that generate more noise to Basins II and III when possible (depending on the
availability of berths, type of ship, and type of cargo);
- Regular maintenance of the asphalt base and shafts in the container terminal handling area –
rehabilitation of damaged concrete and asphalt coastal surfaces, reconstruction of access roads to the
coastal structures;
- Monitoring of speed (4 times per month) on the container terminal quayside in the evenings and in night-
time, with a focus on terminal tractors, preparation of reports in CIIS and communication of breaches to
the terminal and the health protection and ecology department;
- Continuous noise monitoring and reporting to the Management Board on the measured noise levels and
on the implementation of measures from the action plan for noise reduction in the direction of Koper;
- Annual funding under the updated agreement on the implementation of mitigation measures
(installation of additional sound insulation to the nearest dwellings) in cooperation with the Municipality
of Koper;
- Implementation of control and discounts for ships that cause lower atmospheric emissions within the
ESI system (Environmental Ship Index);
- Procedures for the siting of the 110-kV electricity network to the port and the Luka Koper, d. d.,
transformer station;
- Performing underwater noise measurements;
- Keeping records on the implementation of noise measurements;
- Purchase of a total of nine (6 + 3) terminal tugs (replacement of worn-out equipment) for the needs of
the container terminal;
- Activities related to the construction of the passenger terminal facility;
- Environmental monitoring (noise and vibration measurements) during the construction of the new 12th
berth and Ro-Ro berth;
- Environmental monitoring (baseline, measurements during construction, monitoring) during the
extension of the northern part of Pier I in the international port of Koper.
19.11 Energy use and energy efficiency
80
Luka Koper, d. d., has recognised the importance of electromobility, as it is the most efficient use of energy,
including energy from renewable sources. Therefore, the Company is making rapid progress in building charging
infrastructure for electric vehicles and introducing electric cars for use inside the port.
79
GRI 413-1, 413-2
80
GRI 3-3
166 Annual report 2023 Long-term sustainability of the natural environment
The company regularly upgrades its SCADA control system by installing metering and communication equipment
for all large electricity consumers in the port.
Luka Koper, d. d., plans to step up its ongoing programme of investing in renewable energy sources to achieve
some degree of energy self-sufficiency. A number of photovoltaic plants will be installed to become the primary
source of renewable energy in the port.
Luka Koper, d. d. is part of the Ealing European project, the aim of which is to obtain project documentation for the
construction of a connection point for the supply of Ro-Ro ships with electricity at the multi-purpose terminal. In
2023, consents were obtained for the construction of solar power plants on the roofs of warehouses 16, 19, 50 and
51, with a total rated capacity of 4.2 MW, and construction work started in December 2023.
Energy audits should be carried out regularly, therefore, in 2024, the Company will focus on targeted energy audits,
depending on the discrepancies from the planned consumption of an energy source in each individual user group
or section of the port.
19.11.1 Energy efficiency system
The strategic orientation of Luka Koper, d. d., is to achieve high energy efficiency in all activities carried out in the
port.
Luka Koper, d. d., has recognised energy efficiency as one of the key measures of the energy policy to enhance the
competitiveness of the Company, and acknowledges that energy efficiency improvements make a significant
contribution to greater security of supply and lower environmental impacts. Since 2020, the company has been
certified according to the ISO 50001:2018 standard – Energy Management System.
The Environmental strategy and Safe and healthy port environment and energy efficiency policy represent
guidelines for the implementation of all energy measures.
Energy audits have been carried out in the port regularly for a number of years, and energy efficiency investments
have been made.
Consumption of energy sources is monitored using IT systems for energy consumption control. In the event of a
deviation from the set targets, energy efficiency measures are introduced.
19.11.2 Consumption of energy sources
81
Energy balance of Luka Koper, d. d.
81
GRI 302-1, 302-2, 302-3, 302-4
Long-term sustainability of the natural environment Annual report 2023 167
In 2023, the total energy consumption for Luka Koper, d. d. amounted to 306,871 GJ, of which 66,676 GJ (21.7%) was
generated through the use of renewable energy sources (purchased electricity produced from RES, electricity
produced by own solar power plants and energy produced from biomass). As required by the standard, energy is
shown in Joules throughout the document and the calculation is made as the quantity consumed multiplied by the
calorific value for each energy product. The port's operations are mainly fuelled by fossil motor fuel, which
accounted for 58.5 percent in 2023. Electricity is the second most consumed energy product (39.0%). Energy
produced from woody biomass, LPG and EL fuel oil accounts for only 2.5 percent, as it is only used for some
technological purposes and for heating buildings and hot water. In line with the company's policy, fossil fuels for
heating buildings are being phased out and the transition to RES heating is being made.
Consumption of energy for Luka Koper, d. d., by source
Luka Koper, d. d., has the strategic goal to build 6 MW of solar power plants by 2025, which will result in generating
enough electricity to ensure up to 20 percent of our own consumption.
The calculations of energy and emission conversion values are based on typical net calorific values of individual
energy sources for 2023, as stated by the Republic of Slovenia in its latest national greenhouse gas inventories
submitted to the Secretariat of the United Nations Framework Convention on Climate Change (source: Slovenian
Environment Agency).
Consumption of motor fuel for Luka Koper, d. d. (non-renewable source)
In 2023, motor fuel consumption for Luka Koper, d. d. totalled 179,652 GJ. In motor fuel and electricity consumption,
168 Annual report 2023 Long-term sustainability of the natural environment
data is expressed as consumption per metric ton of throughput. The specific consumption of motor fuel in 2023 at
0.241 l/t was higher than in 2022 and deviates from the target (0.230 l/t) by 4.9 percent. In 2023, the absolute
consumption of motor fuel was higher than planned and 6.4-percent higher compared to 2015, mainly due to
machinery electrification, the use of diesel generators at the container terminal to connect refrigerated containers,
whose throughput has been increasing sharply in recent years. The higher than planned consumption of motor fuel
was also due to higher operating hours of the diesel generators on the eRTG bridge cranes due to problems with
the APS connections.
Working processes in the port require abundant use of diesel-fuelled ground equipment. The largest consumers
include terminal tractors, forklifts, rubber-tired gantry cranes (RTG), reach stackers, loaders, vehicles used for rail
traction, passenger cars, and vans.
In 2023, the container terminal was the largest consumer, accounting for 66 percent of all motor fuel consumption
in the port. With the purchase of new e-RTG and RMG cranes, and diesel-powered RTG cranes being replaced,
motor fuel consumption at the container terminal will gradually decline. In purchasing new transport machinery,
the Company follows the latest technological and environmental requirements.
Consumption of electricity for Luka Koper, d. d. (renewable and non-renewable sources)
In 2023, electricity consumption for Luka Koper, d. d., totalled 119.793 GJ. Specific electricity consumption is
defined as electricity consumption per ton of cargo transhipped and does not include electricity consumption
outside the organisation. We do not sell electricity. In 2023, the consumption was 1.59 kWh/t, which is 9.9 percent
above the target (1.45 kWh/t). Absolute electricity consumption was higher than last year by 11.3 percent and higher
than in 2015 by 52.5 percent, which is due to the progressive electrification of port machinery, increased handling
of refrigerated cargo, and electricity consumption to power refrigerated containers. At the beginning of last year,
three additional electric gantry cranes (e-RTGs) were put into operation at the Container Terminal.
Port operations are carried out using machinery and equipment with high nominal powers, resulting in high power
consumption. The largest consumers in the port include ship-to-shore cranes, engine rooms for food refrigeration
on the reefer cargo terminal, the lighting and power supply for refrigerated containers. The use of new electrified
rubber-tired gantry cranes (e-RTG) and rail mounted gantry cranes (RMG) at the container terminal will increase
electricity consumption in the coming years further still. All new gantry cranes are fitted with systems that recover
the electricity generated when the cargo is lowered to the ground and feed it back into the grid. The increase in
power consumption due to the new cranes will be partly compensated by investment in new LED lights across the
port and construction of solar power installations
Long-term sustainability of the natural environment Annual report 2023 169
Consumption of electricity for the economic zone (renewable and non-renewable sources)
In 2023, electricity consumption for the economic zone totalled 6,613 GJ. The consumption of electricity within the
economic zone covers all subtenants and other companies in the area of the Koper port, which are connected to
the internal electricity network of Luka Koper, d. d.
With energy efficiency activities carried out in 2023, we reduced fossil fuel consumption by 3,474 GJ and electricity
by 294.30 GJ from 2022, thus reducing the emissions by 175,213 kgCO2eq and contributing to the improvement of
the Company’s carbon footprint. Calculations of the reduced energy consumption are performed on the basis of
measurements and the Rules on the methods for determining energy savings (Official Gazette of the Republic of
Slovenia, No 57/21).
New e-RTG cranes
Photo: Kristjan Stojaković
19.11.3 Implementation of improvement programmes to reduce electricity and fuel
consumption
82
In 2023, the following was implemented:
• Activities to renovate electrical installations at storage facilities No 22 A, B, C at the general cargo
terminal (detailed design documents);
• Purchase of electric scooters for the Reefer Cargo Terminal;
82
GRI 302-4
170 Annual report 2023 Long-term sustainability of the natural environment
• Activities for the construction of storage facility No 54 at the General Cargo Terminal;
• Activities to renovate lighting at storage facilities No 23 A, B, C, D and H at the General Cargo Terminal;
• Maintenance of SEE Electrical software;
• Maintenance of the ENIS energy monitoring and information system;
• Activities for the construction of the RTP Luka Koper, d. d., distribution transformer station,
• Completed activities before the construction of a solar power plant on the roof of the general cargo
terminal storage facility, including obtaining a building permit and selecting a contractor through a
public procurement procedure;
• Obtained detailed design documents from the selected contractor for the energy rehabilitation of the
boiler room No 7 Pacorini; the implementation phase of the investment will be carried over to 2024;
• Finalised restoration of lighting in 17A storage hall at the general cargo terminal;
• Construction of a solar power plant on the roof of the TA dispatch centre at the car terminal,
The following was not implemented in 2023:
• Complete renovation of electrical installations at storage facilities No 22 A, B, C at the general cargo
terminal;
• Complete renovation of lighting at storage facilities No 23 A, B, C, D and H at the general cargo terminal;
• Installation of network analysers and upgrade of the SCADA control system for electricity consumption;
the investment will be carried over to 2024;
• Complete construction of a solar power plant on the roof of the general cargo terminal storage facility;
• Complete energy rehabilitation of the boiler room No 7 Pacorini, as the investment has been put on hold
due to the realisation that the boiler house in its current form is scheduled to be demolished and later
relocated due to the chosen concept for the expansion of the container terminal and the subsequent
construction of a new main thoroughfare to Pier II;
• Complete energy renovations of the lighting at the container terminal;
• Complete renovations of the lighting in storage facilities 23G, 23K, 23J of the dry bulk terminal;
• Purchase of two vehicles for the needs of the container terminal;
• A control and data acquisition system regarding the operation of port ground equipment was not
established, as this will be a multi-annual project;
• Energy audit at the liquid cargo terminal;
• Purchase and installation of APS connections for eRTG cranes at the container terminal, as this will be a
multi-annual project;
• All procedures for the construction of storage facility No 54 at the general cargo terminal;
• Installation of a charging station for electric vehicles next to the administrative building of the dry bulk
terminal.
19.11.4 Electricity and fuel consumption reduction programmes planned for 2024
The following will be implemented in 2024:
• Finalised construction of a solar power plant on the roof of the general cargo terminal storage
facility;
• Gradual construction of solar power plants on the roofs of storage facilities No 13,16,19,27 and 33 at
the general cargo terminal;
• Installation of network analysers and upgrade of the SCADA control system for electricity
consumption;
• Finalised energy renovations of the lighting at the container terminal;
• Energy-efficient renovation of the boiler room No 7 Pacorini;
• Energy rehabilitation of the administration building of the container terminal;
• Installation of lighting of tracks 35C and 36C and track-side handling areas at the dry bulk cargoes
terminal;
• Upgrade of the electric passenger lift in the silo building at the dry bulk cargoes terminal;
• Purchase of two vehicles for the needs of the container terminal;
• Maintenance of SEE Electrical software;
• Maintenance of the ENIS energy monitoring and information system;
• Continued procedures for the installation of the Luka Koper, d. d., transformer station;
• Continued establishment of a control and data acquisition system regarding the operation of port
ground equipment, which is a multi-annual project;
• Complete renovation of the lighting in storage facilities No 23G, 23K, 23J of the dry bulk cargoes
terminal;
Long-term sustainability of the natural environment Annual report 2023 171
• Continued purchase and installation of APS connections for eRTG cranes at the container terminal,
which is a multi-annual project;
• Complete renovation of electrical installations at storage facilities No 22 A, B, C at the general cargo
terminal;
• Complete renovation of lighting at storage facilities No 23 A, B, C, D and H at the general cargo
terminal;
• Renovation of electrical installations at storage facility No 30 A, B, C at the general cargo terminal;
• Installation of a charging station for electric vehicles next to the administrative building of the dry
bulk cargoes terminal;
• Continued procedures for the construction of storage facility No 54 at the general cargo terminal;
• Procedures for the procurement (replacement) of four RTG cranes at the container terminal;
• Installation of meters to measure electricity consumption by terminal in resources not yet included
in SCADA;
• Reconstruction of the refrigeration equipment at the reefer terminal;
• Replacement of the worn-out split air-conditioning units in residential facilities at the container
terminal;
• Rehabilitation of the façade of the wagon loading/unloading station of the grain silo at the dry bulk
cargoes terminal;
• Purchase of two electric vehicles for specialised departments;
• Renovation of the ventilation system in the ‘central changing rooms’ facility.
19.12 Drinking water and groundwater management
83
The internal water supply network that brings drinking water to the port and comprises around 30 km of pipes, is
maintained by the Company aiming to reduce losses. Drinking water is provided in its entirety by the public company
Rižanski vodovod.
Drinking water is used for public utility purposes, for the supply of ships and for some industrial processes (e.g.
wood soaking, food refrigeration, on construction sites, for vehicle and machinery washing, etc.). We have the water
right (from May 2017) for the use of drinking water for industrial processes, but the consumption is significantly
lower than specified in the permit. For the purposes of fire water pump testing, as a source of fire water, damping
of the coal deposit handling area, etc., the groundwater is also used in the port (via a well), although it is brackish.
In 2023, 21,472 m3 of groundwater was extracted from this borehole, which was used mainly for cleaning road
surfaces, and this amount is also within the limits of the water permit. Compared to 2022, we used 35% less
groundwater. The lower water withdrawal is related to the fact that more rain fell in July and August 2023 (source:
meteo.si - Official weather forecast for Slovenia - National Meteorological Service of the Republic of Slovenia -
Archive (gov.si) . Groundwater quality measurements are carried out every two years, last time in 2022, to check
the possible impact of port operations on groundwater quality (previous measurements were carried out in 2020).
No pollutants were detected in either of the last two measurements carried out (components checked: aromatic
hydrocarbons - BTX, polychlorinated biphenyls - PCBs, organotin compounds, polycyclic aromatic hydrocarbons -
PAHs, phenolic index, mineral oils).
Drinking water consumption is not directly dependent on throughput. The increased load on transport surfaces
(increased traffic) results in more frequent damage to the water supply network. We are working to control leaks
and are in the final phase of a five-year rehabilitation program for the entire port water system.
A water consumption control system is in place, with meters connected to a computer in the control centre. When
a leak is detected, remediation is started.
83
GRI 3-3, 303-1, 303-2, 303-3, 303-4, 303-5
172 Annual report 2023 Long-term sustainability of the natural environment
Source of water supply and type of water used in 2023
Annual
amount of
water
(in 1.000 m
3
)
Notes
Source of water supply:
From public water supply:
158.896
Rižanski vodovod, water quantity is measured by meter
From own source:
21.472
Port well, water quantity is measured by meter (the water
is brackish; sodium value 4,020 mg/l)
Other:
8.510
Precipitation (estimated) for technological wastewater The
estimated water quantity is calculated from the product of
the catchment area and the average rainfall.
Water supply - TOTAL:
188.878
Water consumption:
Municipal wastewater:
40.280
Municipal water drained into the public sewer 38,000 m3
(estimate), port small wastewater treatment systems total
2,280 m3 (19 small wastewater treatment systems, 120 m3
each, assessment). Municipal water from the small wastewater
treatment systems is estimated using the following formula:
, for other municipal water the same formula is
used, except that the number of people is estimated, and visitors
are also taken into account.
Industrial wastewater:
13.068
See table in Chapter 19.13 ‘Types of wastewater in the
port, annual amounts, and compliance with the law’
Industrial water, which is produced by the use of drinking water, is
measured by meters.
Industrial water, which is the result of precipitation, is estimated
and calculated from the product of the catchment area and the
average amount of precipitation.
Water incorporated into products,
evaporated water
44.612
Assessment
Water loss due to system failure:
20.771
Damage to the water supply network due to heavy
machinery, frost, wear and tear, damage during
construction, estimate
Water for ship supply:
70.147
Ship supply, water quantity is measured by meter
Water consumption - TOTAL:
188.878
The quality of drinking water is monitored annually, particularly microbiological measurements of quality in all key
points of the port’s water supply network. Microbiological inadequacy was observed at some sites, but measures
were taken (e.g. chlorine shocks, replacement of mechanical parts in the network, restricted use of drinking water)
to ensure safe drinking water.
Long-term sustainability of the natural environment Annual report 2023 173
Drinking water consumption per metric ton of throughput
Absolute drinking water consumption in the port
19.12.1 Implementation of improvement programmes to increase resource efficiency
In 2023, the following was implemented:
• Reconstruction work on the water supply network in accordance with the 2018-2023 Plan for the
maintenance and repair of the water and hydrant network;
• Regular microbiological analyses of drinking water in the port’s water supply network.
The following was not implemented in 2023:
• Complete reconstruction of the water supply network in accordance with the 2018-2023 Plan for the
maintenance and repair of the water and hydrant network.
174 Annual report 2023 Long-term sustainability of the natural environment
19.12.2 Resource efficiency improvement programmes planned for 2024
The following will be implemented in 2024:
• Completed reconstruction of the water supply network in accordance with the 2018-2023 Plan for the
maintenance and repair of the water and hydrant network,
• Regular microbiological analyses of drinking water in the port’s water supply network,
• Measurements of quality of groundwater from the well and comparison of the content of pollutants with
measurements from 2020 and 2022.
19.13 Wastewater management
84
The port generates technological wastewater, the quality of which is measured by an authorised organization with
built-in treatment plants at the outlet. Types of wastewater:
• Industrial wastewater from the port machinery washing facility (outlet to the Koper Central Wastewater
Treatment Plant);
• Stormwater runoff from the liquid cargoes terminal on Pier I (outlet to the sea);
• Industrial wastewater from the livestock terminal (outlet to the Koper Central Wastewater Treatment
Plant);
• Stormwater runoff from the liquid cargoes terminal on Pier II (outlet to the sea);
• Stormwater runoff from the dry bulk terminal due to storage of scrap iron (outlet to the sea);
• Industrial wastewater from the container washing facility (outlet to the Koper Central Wastewater
Treatment Plant);
• Stormwater runoff from the ship's bilge water collection facility (outlet to the sea);
The container washing facility has an organized wastewater recycling system, which requires additional regular
internal checks whether the treated wastewater meets the microbiological parameters of quality drinking water.
According to the results, the device works effectively.
Limit values, parameters and sampling frequency for all devices were set by the Slovenian Environment Agency,
and for plants with an outlet to the Koper Central Wastewater Treatment Plant by its operator, i.e. public utility
company Marjetica, d. o. o., as is defined in the environmental permit (No 35444-2/2016-13 of 15 Jun 2017 and
amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022). The treatment
technology (possible addition of chemicals in the treatment process), specific legislative requirements regarding
the types of wastewater and the location of the outlet (type of wastewater receiver) were taken into account.
Due to the precipitation washout of the paved areas, precipitation wastewater is also generated across 288 ha of
the port. Many oil interceptors are installed on these surfaces to prevent environmental contamination in the event
of spills. The volume of these cannot be measured. Having an outlet to the sea or Rižana River, oil interceptors are
designed to retain oils. Supervision of their operation is carried out by the contracting party, and the Company has
determined the scope and manner of inspection and cleaning and emptying of oil interceptors. In addition, three
sensors are installed inside the port area to detect the presence of oils in the sea, which is described in the Chapter
19.16 ‘Sea Water Protection’.
Municipal wastewater is treated with the help of 19 small treatment plants. Wastewater quality measurements are
performed by an organization authorised by the Slovenian Environment Agency. In addition, internal control over
the operation of devices is carried out, whereby we have determined the scope and method of their inspection and
cleaning and emptying. The efficiency of operation is also checked indirectly by microbiological measurements of
sea water quality in the port water area, which is described in the Chapter 19.16 ‘Sea Water Protection’.
Most of the remaining municipal wastewater is discharged to the Koper Central Wastewater Treatment Plant, which
is managed by the public utility company Marjetica, d. o. o. The estimated volume of this wastewater is 38,000 m3.
84
GRI 3-3, 303-2, 303-4
Long-term sustainability of the natural environment Annual report 2023 175
Types of wastewater in the port, annual amounts, and compliance with the environmental permit (No 35444-
2/2016-13 of 15 Jun 2017 and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of
27 May 2022).
Type of wastewater
Annual volume
(m
3
) in
2021
Annual volume
(m
3
) in
2022
Annual
volume
(m
3
) in
2023
Compliance of measurements with the
environmental
permit in the year
2023
Stormwater runoff from the
liquid cargo terminal on Pier
I
0
(No
wastewater
was released
into the sea)
0
(No
wastewater
was released
into the sea)
380
Compliant
Stormwater runoff from the
liquid cargoes terminal on
Pier II
2,300
2,300
2,300
Compliant
Stormwater runoff from the
liquid cargoes terminal on
Pier II
10
10
10
Compliant
Stormwater runoff from the
storage of scrap iron on Pier
II of the dry bulk terminal
2,700
-
The scrap
iron storage
site was
abolished,
-
The scrap iron
storage site
was abolished,
Since 2022, scrap iron has no longer been
handled and stored at the location.
Measurements are consequently no longer
performed.
Stormwater runoff from the
storage of scrap iron on Pier I
of the dry bulk terminal
3,500
3,500
3,500
Compliant
Stormwater runoff from the
storage of scrap iron on Pier I
of the dry bulk terminal,
along the NAS9 Hall
-
2,700
New scrap
iron storage
site
2,700
New scrap iron
storage site
Not compliant #
Stormwater runoff from the
bilge water collection facility
(facility managed by Luka
Koper INPO, d. o. o.)
Newly
installed oil
interceptor
214
263
Compliant
Industrial wastewater from
the livestock terminal
1,995
1,541
1625
In the wastewater, ammonium nitrogen
exceeded the limit value for discharge into the
sewerage network, while other parameters
were below the prescribed limit values. ##
Industrial wastewater from
the machinery washing
facility
882
970
1121
Compliant
Industrial wastewater from
the container washing facility
657
503
432
Compliant
Municipal wastewater
39,040
40,040
40,280
Compliant.
Measurements are taken at 19 outlets of small
treatment plants.
# From the area where the scrap iron is stored, stormwater flows through the oil interceptor into the sea. The measurements made showed
elevated COD and BOD5 parameters, indicating organic contamination of the water. When determining the cause, we found that there is an intrusion
of sea water, and the operation of the oil interceptor is less effective in such cases. We decided to install a new oil interceptor directly on this surface,
i. e. at a level where it will not be affected by the sea. The existing oil interceptor was also emptied several times and the contents handed over to
an authorised waste collector. The site only occasionally stores scrap iron, which is only kept on the surface for a few weeks, meaning that the
wastewater is not constantly generated. The quantities of wastewater are small, so we estimate that there has been no environmental pollution.
## In the industrial wastewater of the livestock terminal, of all the parameters, only ammonium nitrogen exceeded the limit value by 10%. As the
wastewater flows into the Koper Central Wastewater Treatment Plant, where it is further treated, we estimate that the impact on the environment
has been minimal, as the volumes of wastewater are also small. The cause of the increase has not been identified, but we assume that it comes
from the secretions of livestock.
19.13.1 Implementation of improvement programmes to reduce wastewater emissions
In 2023, the following was implemented:
• submitted application for an amendment to the environmental permit (No 35444-2/2016-13 of 15 Jun 2017
and amendments No 35440-50/2019-10 of 21 Oct 2020 and No 35447-4/2021-2550-10 of 27 May 2022)
regarding the emissions of wastewater into the environment, as we have installed an additional small
176 Annual report 2023 Long-term sustainability of the natural environment
municipal sewage treatment plant within the new Dispatch Centre at the car terminal on plot number
878/1, cadastral municipality Ankaran; also, for the sewage treatment plant, which is part of the washing
facility at the livestock terminal, on the basis of a new expert opinion from the operator of the Koper central
sewage treatment plant, to which this waste water flows, we have requested a modification of two
parameter limits; and we have requested a reduction in the sampling frequency for the wastewater from
the container washing facility, as the wastewater volumes are very small (approx. 500 m3 per year), and
an increase in the defined annual municipal wastewater generation volumes, as these are increasing due
to the increase in the number of employees. The application has not yet been considered by the
Environment Agency.
19.13.2 Wastewater emission improvement programmes planned for 2024
The following will be implemented in 2024:
• Installation of a new oil interceptor on the scrap iron storage and handling area;
• Activities for the development of project documentation for increasing the capacity and energy efficiency
of providing domestic hot water (DHW) in the central locker room.
19.14 Light pollution
85
Light pollution is governed by the Decree on limit values due to light pollution of environment, based on which all
port lighting was adjusted years ago in such a way that the luminous flux is not pointed upwards. The causes of
light pollution in the port include the lighting of storage areas, working sites, transport routes, and rails. While
operations require adequate light levels according to rules for safety at work, this, on the other hand, impacts the
environment. All lighting in the port area is designed to avoid upward shining and complies with the Decree on limit
values due to light pollution of environment (Official Gazette of the Republic of Slovenia, No 81/07, 109/07, 62/10,
46/13 in 44/22 – ZVO-2). The legislation also requires regular updates to the lighting plan. The valid version of the
plan, which was made to accommodate the additional lighting in the port area, dates from late 2021. It is published
on the port website https://www.luka-kp.si/en/company/sustainable-development/zakonodaja-in-okolje/. The plan
is being revised again and is expected to be completed before summer 2024. The changes to the plan generally
refer to the replacement of existing lighting with new, more energy efficient LED lighting.
19.14.1 Implementation of improvement programmes to reduce light pollution
No activities were planned in this field.
19.14.2 Light pollution improvement programmes planned for 2024
The following will be implemented in 2024:
• Update of the lighting plan and publication on the Company's website.
85
Light pollution – additional indicator (ref GRI 305-7)
Long-term sustainability of the natural environment Annual report 2023 177
19.15 Biodiversity
86
The content is partially presented in Chapter 19.3 ‘Living in harmony with the environment’, whereas the approach
and results in the field of marine diversity are described below. Marine diversity can be affected directly or indirectly
through the processes of sea sediment dredging, shipping, ballast water input, wastewater discharges, noise, etc.
Indirect inflows are also monitored by measurements, the results of which are presented in the Chapter 19.16 ‘Sea
water protection’.
No special agreements have been concluded for the marine part, as there are no dedicated protected species or
marine areas operators.
A while ago, outside the concession area (off the coast of Ankaran), we started monitoring the environmental status
indicator of two underwater grass species (dwarf eelgrass or Zostera noltei and little Neptune grass or Cymodocea
nodosa) growing near the port (for results, see Chapter 19.3 ‘Living in harmony with the environment’). The
monitoring is carried out in two ways, by monitoring leaf length (annual measurement) and by mapping the area
(once every three years).
19.15.1 Implementation of biodiversity improvement programmes
We focused on monitoring the status of underwater meadows, which, however, are not located in the concession
area of the port, where the sea is too deep for the seagrass (Zostera noltei, Cymodocea nodosa) to grow there.
These two species of grass grow in the direction of Ankaran, where the depth of the sea is three meters at most.
Monitoring of the status of the underwater meadow was established in 2018 as part of the Ro4 berth construction
project in Basin III, located in the direction of Ankaran. Measurements of the meadow status were carried out prior
to construction and during grass growth. During construction, status measurements were not possible as the
action is carried out at a time when grasses are not growing. The first measurements of sea meadow status show
that seagrass leaves are quite long, which means that anthropogenic impacts are present and that the condition is
poor or very poor. When marine phanerogams are exposed to low levels of light (due to turbid water), they respond
by distributing more biomass into leaves, which are therefore longer. By elongating the leaves, they can capture
more light, which they devote to photosynthesis. The monitoring of the leaf length of dwarf eelgrass (Zostera noltei)
and little Neptune grass (Cymodocea nodosa) was repeated in 2023 and compared with the measurements made
previously. After five years, the reference site for the little Neptune grass in the Moon Bay (MeZa) was sampled
again. Status evaluation regarding the leaf length measurements is performed using the MediSkew index. The
MediSkew Index is a combination of two metrics based on the length of grass leaves, thus representing a method
for a quick overview of underwater meadows in wide Mediterranean coastal areas.
Monitoring points for monitoring the state of seagrass meadows of the species Cymodocea nodosa and Zostera
noltei
Station code
Latitude
Longitude
Type of grass
LuKp1
45°34.140' N
13°44.215' E
Zostera noltei
LuKp2
45°34.350' N
13°44.183' E
Cymodocea nodosa
LuKp3
45°34.551' N
13°43.861' E
Cymodocea nodosa
MeZa
45°32.306'
13°36.607'
Cymodocea nodosa
The results of the ecological status of seagrass meadows of little Neptune grass (Cymodocea nodosa) sampled at
the above monitoring points expressed in MediSkew
86
GRI 3-3, 304-1, 304-2, 304-3, 304-4
178 Annual report 2023 Long-term sustainability of the natural environment
Date
Monitoring
point
MediSkew
points
MediSkew
sites
MediSkew
meadows
Ecological
status
Number of
leaves
measured
Number of
adult leaves
1.7.2021
LuKp2_1
0.39
0.415
0.37
good
300
238
1.7.2021
LuKp2_2
0.44
300
207
1.7.2021
LuKp3_1
0.26
0.325
300
231
1.7.2021
LuKp3_2
0.39
300
212
11.7.2022
LuKp2_1
0.60
0.550
0.50
moderate
300
279
11.7.2022
LuKp2_2
0.50
300
286
11.7.2022
LuKp3_1
0.51
0.450
300
276
11.7.2022
LuKp3_2
0.39
300
269
5.7.2023
LuKp2_1
0.34
0.395
0.37
good
300
232
5.7.2023
LuKp2_2
0.45
300
223
5.7.2023
LuKp3_1
0.33
0.342
300
263
5.7.2023
LuKp3_2
0.36
300
272
12.7.2023
MeZa_1
0.087
0.12
very good
300
177
12.7.2023
MeZa_2
0.1
300
186
(source: Monitoring of the condition of sea meadows at Basin III of Luka Koper, d. d., National Institute of Biology,
Marine Biology Station Piran)
The overall ecological status of the underwater meadow in the direction of Ankaran has improved in 2023 as
compared to 2022 and is now assessed as good. The table also shows the seagrass leaf length results from the
reference site of Moon Bay (MeZa_1,2), which is considered to be a site with minimal impacts.
In the Gulf of Trieste, Posidonia oceanica is only present in a small area off the Slovenian coast between Koper and
Izola. It appears in the form of large fragments and small islands. The fragments of the Posidonia oceanica
seagrass meadow are well developed and relatively uniform, but there are differences in terms of their immediate
surroundings. In certain fragments, the Posidonia oceanica seagrass meadow continues into the biocenosis of
photophilic algae, while in others it is surrounded by a dense meadow of little Neptune grass. In early 2023, we
mapped the habitat (determined its extent) of the Posidonia oceanica using bathymetric surveys and overwater and
underwater video recording. In 2024, we will set up monitoring of this seagrass meadow, which will be carried out
every two years and will include a comparative analysis with data from previous measurements.
Mapped areas of Posidonia oceanica habitats between Koper and Izola
Photo: Sirio, d. o. o.
Long-term sustainability of the natural environment Annual report 2023 179
In addition, we check the distribution of meadows of dwarf eelgrass (Zostera noltei) and little Neptune grass
(Cymodocea nodosa) in the Ankaran area once every three years. The mapping, i. e., the delineation of the edges
and extent of dwarf eelgrass (Zostera noltei) and little Neptune grass (Cymodocea nodosa) meadows will be carried
out in 2024 and the results will be published in the next annual report. The frequency of checking the extent of
underwater meadows is envisaged to increase to every 2 years.
As part of the monitoring of underwater meadows, a current meter was installed on a buoy within the port area in
Basin III to monitor the direction and velocity of sea currents throughout the water column. The velocity of currents
in 2023 is shown in the figure below. The speed of sea currents is highest at the surface.
The results of the speed of sea currents measured in Basin III, based on depth in 2023
The direction and strength of water currents are also important in understanding the transport of particles that
increase sea turbidity. Increased turbidity of the sea is caused by natural phenomena (rain, wind, waves, sea
blooms) as well as anthropogenic factors (shipping, dredging). Therefore, illuminance measurements are
performed at locations where underwater meadows are located. The figure below shows the locations where
illuminance measurements were also performed during seagrass growth.
Locations of seawater illuminance measurements (number 1-Loc1, number 2-Loc 2, number 3-Loc3)
180 Annual report 2023 Long-term sustainability of the natural environment
Results of illuminance measurements in areas where meadows of dwarf eelgrass (Zostera noltei) and little
Neptune grass (Cymodocea nodosa) grow
Date
Loc3
(bathing beach)
Loc2
(Moon Bay)
Loc1
(Luka KP)
31.07.2023
0.54
0.54
0.52
29.09.2023
0.32
0.34
0.26
Date
Loc3
(bathing beach)
Loc2
(Moon Bay)
Loc1
(Luka KP)
14.07.2022
0.37
0.30
0.35
23.09.2022
0.36
0.31
0.30
Date
Loc3
(bathing beach)
Loc2
(Moon Bay)
Loc1
(Luka KP)
10.08.2021
0.39
0.36
0.41
08.09.2021
0.50
0.36
0.35
The illuminance level is expressed as a relative value to the surface, where the value is 1. Measurements of
illuminance (transparency of the sea) carried out at the end of July showed better results at all three locations, i.e.
greater illuminance compared to 2022 and 2021, while the results of the measurements carried out in September
do not differ significantly.
Quarterly monitoring the quality of water in the strait that crosses the port and connects the sea to Škocjanski Zatok
was continued. In all measurements to date, the mineral oils index was less than 20 μg/l, which is in line with the
set target and an indicator that there has been no water pollution from stormwater discharges from the port's
paved areas.
In 2023, the following was implemented:
• Annual measurement of the length of dwarf eelgrass and little Neptune grass leaves in the Ankaran
area and evaluation of the ecological status;
• Quarterly monitoring the quality of water in the strait that crosses the port and connects the sea and
Škocjanski Zatok;
• Continuous monitoring of lighting and sea currents and video surveillance of the marine environment.
The following was not implemented in 2023:
• Mapping and verification of the extent of meadows of dwarf eelgrass (Zostera noltei) and little Neptune
grass (Cymodocea nodosa) in the Ankaran area.
19.15.2 Biodiversity improvement programmes planned for 2024
The following will be implemented in 2024:
• Continued monitoring of the status of underwater meadows by measuring the length of seagrass
leaves, checking and mapping the extent of dwarf eelgrass and little Neptune grass in the Ankaran
area, and increasing the frequency of monitoring to every 2 years;
• Continued monitoring of lighting, sea currents, and sea water quality and video surveillance of the
marine environment;
• Continued quarterly monitoring of water quality in the Škocjan strait.
Long-term sustainability of the natural environment Annual report 2023 181
19.16 Sea water protection
In accordance with the Concession Agreement for the performance of port activity, management, development and
regular maintenance of the port infrastructure in the area of the Koper cargo port, Luka Koper, d. d., regularly
carries out activities to prevent and eliminate consequences of marine pollution.
An important part of the public utility service performed by Luka Koper, d. d., is regular inspections of the port
water area and the removal of driftwood, debris, waste and other abandoned and discarded objects from the sea.
To this end, Luka Koper, d. d., has special dedicated equipment and vessels, as well as adequately trained staff.
Considering the capacities and loads that result from port operations, Luka Koper, d. d., may mobilise its staff and
resources for the process of preventing and addressing the impacts of sea pollution outside the port, thus assisting
the relevant state bodies.
In the event of incidents at sea, Luka Koper, d. d., acts in compliance with the applicable Protection and rescue plan
of Luka Koper, d. d. for industrial accidents, which defines minor, medium-sized and major accidents.
Figure: A view of the cleaning of debris throughout the Luka Koper, d. d., port water area and the installation of
spill socks in the Basin II.
Photo: Maritime unit Luka Koper INPO, d. o. o.
In all instances of marine pollution, Luka Koper, d. d., acted in accordance with the Means and Resources Activation
Scheme for Minor Accidents, and remedied the effects of pollution within the concession area.
182 Annual report 2023 Long-term sustainability of the natural environment
The Marine Protection Unit of Luka Koper, d. d., participated in the training for the performance of protection,
rescue and assistance tasks in the event of ecological and other disasters at sea. The objective of the training is to
carry out practical activities in segments to limit the spread and clean-up of pollution at sea. The most important
part was the towing, splicing and anchoring of water barriers to contain the slick and prevent its further spread.
The International Convention on Oil Pollution Preparedness, Response and Co-operation was adopted under the
International Maritime Organisation (IMO), and later supplemented by a protocol for pollution by harmful and
hazardous substances. Based on this Convention, the IMO has developed a series of training programmes on
marine pollution planning, response and management. These programmes are delivered at three levels, according
to the tasks, competences and responsibilities of the participants. All Luka Koper Group employees working in the
field of marine safety are required to obtain and renew their certificates every 36 months. Prior to the Sea 2023
exercise, initial and refresher training was conducted for employees of Luka Koper d. d. and Luka Koper INPO d. o.
o.
In accordance with the Protection and Rescue Plan, the Sea 2023 exercise was organised and successfully carried
out in 2023. It was based on the assumption that a car carrier had departed from Basin II at high speed and a tanker
was not properly moored at the silo berth. As a result, the loading arm was damaged and disconnected, and fuel
was released into the sea. The fuel was contained by a protective float curtain boom and cleaned by the Kormoran
and Seagull environmental vessels. The movement or propagation of the slick was predicted using a marine
simulator.
Figure: Participants gathering by the sea at the end of the ‘Sea 2023’ exercise.
Photo: Jure Barovič
The Luka Koper group also participated in the international exercise of joint Slovenian, Italian and Croatian
intervention in the event of an accident at sea. The exercise tested preventive measures and preparedness, and its
main objective was to test the activation and communication of units and the coordination for a joint and coordinated
response of all available capabilities in the event of a large-scale pollution incident in the North Adriatic. The
exercise was led by the Italian Coastguard, and on the Slovenian side, participation in the exercise was coordinated
by the Civil Protection Headquarters for the Coastal Region. There were over 100 participants, including the Luka
Koper Group.
19.16.1 Statistics for interventions at sea
87
2021
2022
2023
Number of identified incidents at sea
43
51
34
Number of interventions in the port water area
40
50
34
Number of incidents not requiring intervention
3
1
0
Number of pollution incidents outside the port water
area
0
0
0
87
GRI 413-1
Long-term sustainability of the natural environment Annual report 2023 183
In 2023, 34 minor events were recorded in the port water area, all of which were controlled at the location of
occurrence or detection and in no case had an impact on the environment. Most of the incidents were related to the
occurrence of large quantities of wood and other debris carried to the port water area of Luka Koper, d. o. o., by the
River Rižana or from the open sea.
Recently, Luka Koper, d. d., has been organising workshops for all new employees as well as others, to emphasise
the importance of preventing the occurrence or immediately detecting even the smallest pollution at sea, reporting
it to the Safety and Control Centre (SCC) of Luka Koper, d. d., and taking immediate action. The SCC initiates an
intervention and reports it in the CIIS system upon any pollution sensor alarm or radar detection and upon all calls.
In 2023, the number of incidents was lower than in the previous year, which can also be attributed to informing all
employees of the importance of incident prevention and the implementation of certain measures to reduce coal
dust marine pollution in Basin III.
The REBEKA state-of-the-art measuring equipment for monitoring sea water quality is located in front of the
entrance into the port’s Basin III. The results are displayed on the website http://www.zivetispristaniscem.si/. The
buoy continuously monitors the general parameters of sea water. The table below shows the measured values. No
limit values are stipulated.
Monitoring points for monitoring the quality of the sea (locations of the Rebeka stationary measurement buoy,
three stationary measurement devices and a radar for monitoring possible spills of oil products)
Results of sea quality measurements from the Rebeka measuring buoy
2021
2022
2023
Sea temperature (°C)
between 10 and
30
between 11 and
30
between 8.8 and
28.6
Salinity (g/l)
between 35 and
38
between 35 and
43
between 33.8
and 39.7
Oxygen content (mg/l)
between 6 and
12
between 3 and 9
between 5.13
and 8.77
pH
between 8.2 and
8.5
between 8.1 and
8.3
between 8.2 and
8.4
Turbidity (NTU)
between 0 and 2
between 0 and
10
between 0 and
10
The results of the measurements of the general sea quality parameters do not vary significantly between from year
to year, with only slightly higher turbidity values recorded, which are partly related to sensor vegetation. No limit
values are defined.
The monitoring of the microbiological parameters of sea water quality continued in all three basins of the port.
Legislation relating to the monitoring of the microbiological quality of seawater is only mandatory for bathing sites.
Nevertheless, parameters that may indicate faecal contamination of the sea have been monitored in the port. The
results within the port during the bathing season show compliance with the bathing water values, as shown in the
tables below. In the port area, microbiological non-compliance could be caused by ships due to faecal discharges
or inadequate treatment of the port’s faecal treatment plant.
184 Annual report 2023 Long-term sustainability of the natural environment
Microbiological quality of sea water in the port in 2021 (in cfu/100 ml)
Monitoring
point
Parameter
April
May
June
July
August
Sept
Oct
Limit value
for bathing
water
Basin I
Intestinal
enterococci
**D
251
*NPD
est. 4
**D
est. 5
33
370
Basin I
E. Coli
est. 9
400
**D
est. 9
*NPD
est. 4
12
1,000
Basin II
Intestinal
enterococci
61
141
11
46
13
58
220
370
Basin II
E. Coli
122
390
32
56
est. 7
39
370
1,000
Basin III
Intestinal
enterococci
*NPD
111
*NPD
24
*NPD
**D
est. 6
370
Basin III
E. Coli
**D
330
*NPD
est. 7
est. 5
*D
est. 4
1,000
*Note: NPD – no presence detected
**Note: D – detected
est. – estimated
Microbiological quality of sea water in the port in 2022 (in cfu/100 ml)
Monitoring
point
Parameter
April
May
June
July
August
Sept
Oct
Limit value
for bathing
water
Basin I
Intestinal
enterococci
est. 5
18
**D
**D
**D
38
370
Basin I
E. Coli
**D
est. 8
*NPD
*NPD
**D
13
1,000
Basin II
Intestinal
enterococci
14
360
12
82
10
140
370
Basin II
E. Coli
**D
530
17
61
**D
180
1,000
Basin III
Intestinal
enterococci
**D
est. 4
**D
est. 6
*NPD
10
370
Basin III
E. Coli
*NPD
est. 6
*NPD
*NPD
**D
est. 6
1,000
*Note: NPD – no presence detected
**Note: D – detected
est. – estimated
Microbiological quality of sea water in the port in 2023 (in cfu/100 ml)
Monitoring
point
Parameter
April
May
June
July
August
Sept
Oct
Limit
value for
bathing
water
Basin I
Intestinal
enterococci
D
D
est. 3
NPD
D
37
/
370
Basin I
E. Coli
est. 7
NPD
est. 8
D
D
12
/
1,000
Basin II
Intestinal
enterococci
42
28
42
14
est. 8
170
/
370
Basin II
E. Coli
68
32
57
29
25
150
/
1,000
Basin III
Intestinal
enterococci
D
NPD
NPD
NPD
est. 5
28
/
370
Basin III
E. Coli
D
NPD
NPD
NPD
10
est. 7
/
1,000
*Note: NPD – no presence detected (0 cfu)
**Note: D – detected (1-2 cfu)
* * *Note: est. – estimated
Long-term sustainability of the natural environment Annual report 2023 185
The microbiological quality of the sea is highest in Basin I and III. Microbiologically, Basin II is more polluted, but
this is attributed to the outflow from the Central municipal wastewater treatment plant operated by Marjetica
Koper, d. o. o., since its outlet runs into the initial part of Basin II. Approximately 5 million m
3
of recovered sewage
is discharged from this treatment plant into Basin II of the port.
There are three sensors at fixed positions in the port that continuously monitor potential oil spills. One is installed
in front of the Koper marina fuel station; one is located at Berth 7d in Basin I and on the liquid cargo throughput
berth in Basin II. In 2023, the sensors detected no pollution. The sensors are constantly taking measurements and
the alarm system is connected to the port's Security and Control Centre.
The hydrocarbon sensors on the water surface only detect spills directly underneath, i.e. along the shoreline. Any
pollution that may occur on the seaward side, i.e. in the middle of the basins or in the waterway, is detected by a
new dedicated radar installed on top of the silo of Luka Koper, d. d. The system has the advantage of operating 24
hours a day, even in conditions of reduced visibility. In addition to detection, which allows immediate action, it also
helps the intervention team to identify the movement of the slick and to take effective action. The Luka Koper, d. d.,
system is compatible with the existing system used by the Slovenian Maritime Administration. This makes it
possible to ensure surveillance of the entire Bay of Koper, i.e. an important part of the Luka Koper, d. d., port water
area, the entry channels, the ships' anchorage and the rest of the Bay of Koper.
Figure: A radar for detecting pollution at sea, installed on the roof of a silo of Luka Koper, d. d.
Photo: Jure Barovič
We also continue to monitor underwater noise. The main source of continuous anthropogenic underwater noise is
shipping activity, therefore, we decided to set up a measuring system.
Figure: Location of the fixed underwater noise monitoring station installed in the port area and the underwater
noise meter
186 Annual report 2023 Long-term sustainability of the natural environment
Sound propagates underwater as mechanical waves that are transmitted through the water medium. It is more
stable in water than in air and can travel greater distances without significant attenuation.
Human-induced sound in the sea is divided into two groups. Short-term (impulsive) noise is generated by seismic
surveys, explosions, construction work (pile driving) and the use of sonar. The second type of noise is long-lasting
(continuous) noise, which is generated by dredging, shipping and energy devices. The two types of noise affect
marine organisms differently. Continuous noise is mainly generated by vessel traffic. In addition to ship noise,
environmental noise sources also contribute to the sound field. Environmental noise is caused by noise from distant
vessels (small boats, jet skis, sailboats, swimmers, etc.), underwater animal sounds, natural sources such as wind,
precipitation and waves, and accidental events.
A stationary noise meter has been installed below sea level in the offshore area of the port, at the entrance to Basin
II. The measuring device takes measurements continuously. It is operated by the contractor, the Institute of
Occupational Safety, Ljubljana. Underwater noise measurements are not yet standardised and limit values have
not yet been set. The measuring station (hydrophone) records the sound pressure at a sampling frequency of 22,050
Hz and then calculates the equivalent unweighted noise level Leq for a time interval of 10 minutes. The measuring
station additionally analyses the sound pressure level in the field frequency bands between 50 Hz and 5,000 Hz. The
Technical Group on Underwater Noise at European Union level ("TG Noise") proposes that Member States establish
monitoring of underwater noise levels in third-octave bands with centre frequencies at 63 Hz and 125 Hz, as shown
in the table below.
Results of underwater noise measurements in the port
Energy annual average
[dB]
Year of measurement
L
eq*
L
eq63Hz**
L
eq125Hz***
2022
125.9
114.8
116.3
2023
126.5
115.1
116.3
*L
eq
[dB]
equivalent unweighted broadband noise level
**L
eq63Hz
[dB]
equivalent unweighted noise level within the third-octave band with centre frequency at 63 Hz
***L
eq125Hz
[dB]
equivalent unweighted noise level within the third-octave band with centre frequency at 125 Hz
As the measurements have been carried out since 2022, it is not yet possible to assess trends or the spatial
distribution of underwater noise. The results can be compared with the national underwater noise monitoring of
the Ministry of Environment and Spatial Planning, which indicates that the average noise levels during the summer
period ranged between 127 and 139 dB, but the exact location of the measurements in the Slovenian Sea was not
given (source: Marine Environment Management Plan 2017–2021, May 2017).
19.16.2 Implementation of sea water protection improvement programmes
In 2023, the following was implemented:
• Continued measurements to monitor seawater quality;
• Completed second phase of floorboard renovation at the liquid cargo terminal;
• An exercise to check the revised Protection and Rescue Plan;
• Renewal training for a part of maritime responders in accordance with IMO recommendations in
cooperation with the Faculty of Maritime Studies and Transport, and extension of certificates validity;
• Cooperation with an inter-ministerial group to develop a protocol for the management of waste that
could arise in the event of a major accident at sea.
The following was not implemented in 2023:
• Complete introduction of a checklist for supplying ships with fuel (bunkering).
Long-term sustainability of the natural environment Annual report 2023 187
19.16.3 Sea water protection improvement programmes planned for 2024
The following will be implemented in 2024:
• Introduction of a checklist for supplying ships with fuel (bunkering);
• Continued measurements to monitor seawater quality and trends in sea currents;
• Renewal training for a part of maritime responders in accordance with IMO recommendations in
cooperation with the Faculty of Maritime Studies and Transport, and extension of certificates validity.
19.17 Seabed dredging and management of marine sediments
To ensure safe navigation of ships, a certain depth has to be maintained at all times in the port, marinas and
harbours. To this end, the seabed is occasionally dredged, which leads to the issue of having to deposit the marine
sediment onshore.
As the areas available for onshore sediment disposal are limited, the Company has been exploring alternative
options of using the excavated material. In recent years, the excavated marine sediment was deposited in purpose-
built cassettes, but these are now almost filled. In 2023, dredging was not carried out, so there was no depositing
in cassettes either
Marine sediment excavated in the port area by year
On land, Luka Koper, d. d., can dispose of sediments only in the area of the Ankaran Bonifika, for which it has
already obtained the environmental permit, but the cassettes have not yet been built. In this area, ownership must
be arranged, a building permit obtained, and alternative habitats arranged in the Ankaran peripheral canal prior to
the disposal of the excavated sediment.
An alternative to depositing marine sediment on land is to relocate it back to the sea. All countries are opting for
this. In Slovenia, this option is now allowed by the adopted Maritime Spatial Plan, but it is necessary first to carry
out a test relocation, perform measurements of potential impacts and assess the impacts on this basis. The
Maritime Spatial Plan envisages a number of mitigation measures for the implementation of the test relocation,
and control over the realisation will be carried out by various approvers. In 2023, we drew up a programme for the
implementation of the test relocation and obtained consent for its implementation from the consenting authorities.
The test relocation will be a one-off disposal of a limited amount of marine sediment (up to 50,000 m3), to be carried
out within the defined test area shown in the figure below. Monitoring and impact assessment will be carried out
during the implementation. Following the test relocation, further relocations will await the results of the
monitoring. If the results of the monitoring of the test relocation show that there are no significant impacts, nature
conservation, cultural and water consents may be issued for further relocation of marine sediment at the potential
188 Annual report 2023 Long-term sustainability of the natural environment
sites (Map 6 - Marine and Maritime Transport Areas of the Maritime Spatial Plan) to enable sediment relocation to
take place at these sites. Further relocation at potential sites is subject to the same conditions as those set for the
test relocation, or other conditions as determined by the competent consenting authorities (the full reference is
taken from the Decree on Maritime Spatial Plan Slovenia (Official Gazette of the Republic of Slovenia, No 116/21)).
Illustration of the area envisaged for the implementation of the one-off test relocation of marine sediment
Source: Maritime Spatial Plan Slovenia
19.17.1 Implementation of improvement programmes for excavated marine sediment
management
In 2023, the following was implemented:
• A modelling study on the potential dispersion of particles in the event of marine sediment relocation in
the sea;
• Preliminary archaeological investigations in the sea in the area planned for the test marine sediment
relocation, but no archaeological remains were found;
• Development of a comprehensive programme to monitor the ecological status of the sea during the
implementation of the marine sediment relocation test;
• Obtaining all the necessary consents to carry out a test relocation of marine sediment;
• Mapping of the Neptune grass meadow in the direction of Žusterna.
19.17.2 Improvement programmes for the management of dredged marine sediment
planned for 2024
The following will be implemented in 2024:
• • Selection of a contractor to carry out the dredging and test relocation of marine sediment and
perform environmental monitoring during the implementation.
19.18 Radioactivity of consignments
In accordance with the Decree on checking the radioactivity of consignments that could contain orphan sources
(Official Gazette of the Republic of Slovenia, No 10/19 and 44/22 – ZVO-2), radioactivity levels of all consignments
coming from third countries have to be monitored to detect illegal radioactive shipments; furthermore,
measurements were carried out continuously during the year at all road exits from the port and on some of the rail
tracks using fixed measuring devices. In numerous consignments, exceedances of the natural background
radioactivity were recorded, but in all cases, the increase observed was due to the natural characteristics of the
consignments (e.g. potassium radioactivity present in bananas, potassium, radium and thorium radioactivity
present in fertilizers, granite, fibreglass, ceramics) or of truck drivers having been treated with radioactive isotopes
Long-term sustainability of the natural environment Annual report 2023 189
(e.g. iodine radioactivity in thyroid therapy). Even in the case of handled scrap iron, we detected no illegal shipments
that would cause increased radiation.
19.18.1 Implementation of improvement programmes for radioactivity of consignments
In 2023, the following was implemented:
• Reports on annual results of measurements to the Slovenian Nuclear Safety Administration (SNSA);
• Verification/calibration of measuring devices.
19.18.2 Improvement programmes for the radioactivity of consignments planned for
2024
No activities are planned for this year.
190 Annual report 2023 Long-term sustainability of the natural environment
MANAGING SOCIAL IMPACTS OF SUSTAINABLE
DEVELOPMENT
ESG
Important reporting topics
Chapter
S - SOCIAL VIEW
Occupational safety and health
20 Safe and healthy port environment
Quality of service delivery
23 Sustainable relationship with customers
Digitisation
24 Digital transformation
Employment
21.1 Employee management and training
system
Employee engagement
21.3 Ensuring safety of employment and social
security of employees
Training and education
21.2 Educating and training of employees.
Socially responsible activities
22 Social responsibility
Quality of services delivered
23 Sustainable relationship with customers
Benefits for employees
21.1.11 Employee benefits
Cooperation with educational institutions
21.4 Cooperation with educational institutions
STRATEGIC ORIENTATIONS OF LUKA KOPER BY ENVIRONMENTAL ASPECT
A new 2024-2028 Strategic Business Plan was adopted at the end of 2023, setting out the social objectives for
sustainable development.
STRATEGIC ORIENTATIONS - SOCIAL ASPECT
1. Occupational safety and health
o We will upgrade staff training programmes on safe working practices.
o We will improve the culture of health and safety at work.
o We will integrate aspects of occupational safety and health into management, reward and
promotion systems.
o We will improve working conditions (changing rooms, rest areas, staff mobility).
o We will ensure emergency transport.
o We will optimise traffic flow in common areas.
2. Employment
o We will establish central management of available staff to increase the organisation's flexibility.
o We will speed up the recruitment and redeployment process.
o We will provide jobs for people with disabilities.
3. Training and education
o We will develop the core competences of management and key personnel.
o We will adapt our staff training and development to the future requirements of our business
(digitalisation, automation, sustainable business).
4. Benefits for employees
o Possibility of concluding insurances.
o Upon retirement, we will provide additional severance pay from the so-called post-employment
fund.
o Post-employment fund.
o Sports activities.
o Remuneration of employees in accordance with the provisions of the collective agreement.
Long-term sustainability of the natural environment Annual report 2023 191
5. Employee engagement
o Employee engagement will be regularly monitored and improved through the development of key
competencies for management and key personnel and annual interviews.
o We will carry out activities to change the organisational culture in the company.
6. Quality of service delivery
o We will provide services tailored to our customers' needs, continuously monitor their satisfaction
and improve accordingly.
o We will deliver our services reliably, safely and in accordance with our customers' orders.
o We will increase the efficiency of service delivery processes through digitisation.
o We will raise awareness among our employees about the importance of quality, safe and efficient
performance of our services.
7. Socially responsible activities
o We will continue to provide balanced and transparent information to all key stakeholders.
o We will establish a continuous and substantive dialogue with local communities and strengthen
cooperation on the implementation of mitigation measures.
o Our sponsorships and donations will prioritise support for sustainable and community-based
projects.
o We will develop a plan to proactively communicate the sustainability performance of the
company.
o We will strengthen internal communication and informing employees and encourage them to be
more involved in the communication process.
o We will increase the key stakeholders’ awareness of the activities and development of Luka
Koper.
o We will strengthen the positive perception of our Company as a socially responsible enterprise.
o We will strengthen the reputation of Luka Koper, d. d., in the local, national and international
environment.
8. Digital transformation
o With the help of digital technologies, we will improve the use of resources and increase the port's
productivity, while also reducing its impact on the environment, which will also help reduce
operating costs.
192 Annual report 2023 Safe and healthy port environment
20 Safe and healthy port environment
20.1 Description of the Occupational safety and health system
88
In the context of occupational safety and health, four impacts were identified and assessed in terms of their impact
on stakeholders. Two potentially negative impacts are identified, i. e., serious occupational injuries and
occupational diseases. Management measures are recognised under the Risk and Opportunity Management
System.
The policy of a safe and healthy work environment is implemented in the Luka Koper Group by ensuring that modes
of operation, work processes and cooperation processes with external stakeholders are in accordance with the
legislation (Health and Safety at Work Act with regulatory provisions – ZVZD-1) and the ISO 45001:2018 occupational
safety and health management system, for which Luka Koper, d. d., was certified on 17 Apr 2020. The major starting
points in implementing the system are continuous improvement, hazard identification and prevention of injuries
before they occur at all. In order to ensure the appropriate competencies of staff working in the field of occupational
safety and health, training programmes have been organized for internal auditors of the health and safety at work
system according to the ISO 45001:2018 standard.
The occupational safety and health system has been devised to include in the framework of the annual planning the
examination of risk related to occupational safety and health based on risk assessment and risk register. Risks are
identified with an assessment of work-related risks and analysis of accidents at work and other exceptional events.
Based on identified significant risks, annual targets are set, and improvement programmes devised, including the
activities required to achieve the objectives set. The implementation of the improvement programme is monitored
in quarterly work programmes and in the annual report on occupational safety and health. Suitability of the system
is verified and assessed in the framework of regular internal and external audits and based on management
reviews.
In the field of occupational health, the Luka Koper Group has been planning and implementing the promotion of
health in the workplace, while also providing the required resources and method of monitoring. Health promotion
activities are based on a health needs assessment.
20.2 Occupational safety and health
20.2.1 Organisation
89
At the highest level of Luka Koper, d. d., the Member of the Management Board - Worker Director ensures that the
occupational safety and health management system is established, implemented, maintained and improved.
Coordination of activities in the field of occupational safety and health, monitoring of legal requirements and the
transfer or harmonisation of internal documentation with the necessary changes, has been established within the
occupational safety and health department. In order to perform professional tasks related to ensuring safety and
health at work, individual occupational safety and health officers are assigned to various organisation units. The
companies in the Luka Koper Group use the same occupational safety and health system, with professional tasks
carried out by either professional staff or external contractors.
A working group for the promotion of health at work has also been appointed in Luka Koper, d. d., which is presented
in greater detail below. Independently of this, the Luka Koper sports club with over 1,170 members operates in the
framework of the Luka Koper Group and is presented below.
88
GRI 2-13, 3-3, 403-1, 403-9
89
GRI 2-13
Safe and healthy port environment Annual report 2023 193
20.2.2 Workers covered by the occupational health and safety management system
90
Employees who are directly covered by the occupational safety and health management system and whose work or
work-related activities are supervised by Luka Koper, d. d., are employed either by Luka Koper, d. d., or by
recruitment agencies (agency employees). Employees of subsidiaries are involved and supervised by the
subsidiaries.
Subsidiaries, external contractors and all others entering the Koper port area are employees whose work or work-
related activities are not directly under the control of Luka Koper, d. d., therefore, their responsible conduct is
ensured through concluded contracts, safety measure agreements, and other agreements. Proper compliance with
the requirements and implementation of measures is checked by periodic preventive controls or internal audits or
audits by external contractors. The requirements that apply to external participants are defined in Port Regulations
and other internal acts of Luka Koper, d. d., and are available on the Company’s website.
Average number of employees of the Luka Koper Group in 2023: 1,861.5 (82% of all involved in the process).
Average number of agency workers the Luka Koper Group in 2023: 399 (18% of all involved in the process).
20.2.3 Hazard identification, risk assessment and investigation of incidents
91
The basis for the effective identification of hazards/ harmfulness and the introduction of the necessary safety
measures is a correctly made risk assessment, which is prepared by the occupational safety and health
professionals (OSH officers) at the level of individual organizational units in cooperation with the occupational safety
and health department. The risk assessment is performed in accordance with the internal methodology, which
covers all critical risk factors. Based on daily monitoring of work processes, incidents occurring in the port area,
information and complaints from employees, and new findings resulting from technological progress, the risk
assessment is systematically revised.
Workers involved in individual work processes have the right and duty to monitor the circumstances at the work
sites and immediately inform the work process managers of any deficiencies/harms and other phenomena that
could endanger the safety and health of individuals in the work process. One of the key tasks of work process
managers is to establish a safe and healthy working environment at work sites in cooperation with OSH officers.
Legislation in the Republic of Slovenia, on the basis of which Luka Koper, d. d., had prepared internal acts regulating
safety and health at work, very clearly defines the right of workers to refuse work if they believe that their safety is
endangered or not sufficiently taken care of. At the level of Luka Koper, several different professional areas and
players are involved in the treatment of perceived shortcomings, including observations and comments of
employees regarding the provision of safe working conditions, as a result of which no negative attitude of employees
has been perceived in this regard. Independently of the work processes, a system has also been established at the
level of Luka Koper, through which employees can submit their ideas and suggestions for improvements. The latter
regularly include proposals to ensure a higher level of safety and health at work. Prior to implementation, each
proposal receives an expert assessment of its impact and eligibility.
In accordance with internal documents in the field of safety and health at work, Luka Koper, d. d., provides
comprehensive treatment of work-related incidents. Any incident that results or could result in an injury to the
worker or major property damage, is reported to the security control centre, which in turn informs and activates
all necessary intervention services and specialised departments. The circumstances of incidents are discussed in
detail by OSH experts, who determine, based on internal protocols, whether additional risk mitigation measures
should be introduced in order to prevent a recurrence of the incident (revision of risk assessment, individual
corrective measures, etc.).
20.2.4 Implementation of health measures and prevention or mitigation of negative
effects on health
92
Luka Koper Group companies have contracts with occupational health providers to ensure the implementation of
health measures. Luka Koper, d. d., has concluded a contract with two occupational medicine practitioners who
have the relevant competences for the provision of health services. Within the framework of the mentioned
competences, the occupational physician performs the following tasks in particular:
− Carries out medical examinations of employees to determine the health status of employees and their
ability to perform certain work in the work environment and to acquaint employees with the risks
associated with their work or work environment. Medical examinations are conducted for all employees
90
GRI 403-1, 403-8
91
GRI 3-3, 403-2, 403-9
92
GRI 2-25, 403-3, 403-6, 403-7, 403-10
194 Annual report 2023 Safe and healthy port environment
and agency workers. The scope and time interval of medical examinations are determined on the basis of
the workplace risk assessment. The organisation of medical examinations takes place within the
occupational safety and health department, which enables easy access to services and data. Appropriate
confidentiality of personal data is also ensured in accordance with the GDPR. Medical examinations are
free of charge for workers and are conducted during working hours.
− Monitors and analyses the situation regarding occupational diseases and work-related diseases and
identifies the causes. There are no recognised or diagnosed occupational diseases among employees and
agency workers.
Occupational health practitioners' reports of findings from preventive health check-ups show that endocrine,
nutritional and metabolic diseases are the most common, followed by eye diseases, symptoms and signs, abnormal
clinical and laboratory findings, and ear diseases. Musculoskeletal disorders are on the rise, in line with the
National Institute of Public Health data. The risks associated with health problems are managed by introducing
preventive measures into work processes and through a health promotion programme.
At Luka Koper, d. d., a total of 26 employees are recognised as having a disability by the Pension and Disability
Insurance Institute of Slovenia, of which 10 obtained a decision in 2023. Six employees are currently in the process
of obtaining a decision. These are mostly disabilities from musculoskeletal disorders, which can also be the result
of forced posture at work, as identified in the workplace risk assessment. On the basis of the degrees of disability
identified, the employees are either reassigned to Luka Koper INPO, d. o. o., which employs 74 people with
disabilities (100 for the Group) or to another suitable position within Luka Koper, d. d., where the requirements and
limitations given by the Commission are met, or they remain in the same position, according to the limitations
identified. Appropriate job adjustment or reassignment shall also be made in the event of medical restrictions
arising from medical certificates following preventive health examinations.
20.2.5 Training on safe and healthy working practices
93
The Luka Koper Group provides regular training and competency tests for safe and healthy work. Training is
mandatory for all employees and agency workers, either upon the start of employment, before starting work in
another position or before new technology and new means of work are introduced, and when a change is introduced
in the work process that may influence a change in safety at work. The training consists of general and specific
components and is carried out theoretically and practically on the basis of training programmes. After each
completed training programme, a theoretical and practical skill test is performed, and an appropriate performance
report is prepared. Training programmes and competency tests are carried out during working hours and are free
of charge for workers. Most training programmes and competency tests are performed by internal contractors
(lecturers, mentors, instructors). Depending on the work performed by an employee, mandatory periodic checks of
theoretical and practical competence for safe and healthy working practices are also performed.
20.2.6 Worker participation and consultation with employee representatives
94
All the important issues of occupational safety and health involve the Works Council of the company in question
and the trade unions that represent the employees. The Luka Koper, d. d., Works Council also has a Safety and
Health Committee, which is consultative in nature. Ongoing issues are dealt with on an ongoing basis when they
are detected, while more complex issues are brought to the Works Council meeting for further discussion on the
basis of a decision. Worker participation is defined in internal documents of Luka Koper, d. d., (collective bargaining
agreement, employee participation agreements, organisational regulations, etc.) and can take place through
employee representatives, as cooperation based on legal or other requirements or directly by an employee when
there is a direct influence on safety and health at work (hazard identification, inadequate measures for safe work,
emergency, etc.). Accessing information and communication take place through internal communication tools,
such as: meetings, interviews, sessions, internal mail, intranet, short news, the Port bulletin, etc. In accordance
with internal documents, employees who express opinions in good faith, take initiatives and exercise their rights
should not be held accountable.
93
GRI 403-5
94
GRI 403-4
Safe and healthy port environment Annual report 2023 195
20.3 Occupational safety and health objectives
95
20.3.1 Occupational safety and health objectives for 2023
Achievement of occupational safety and health objectives in 2023
PLANNED
ACHIEVED - LUKA KOPER, D. D.
ACHIEVED - LUKA KOPER GROUP
0 serious injuries
1 serious injury
1 serious injury
A maximum of 17 injuries per million hours
worked (employees + agency workers)
26 injuries / million hours worked
25.6 injuries / million hours worked
A maximum of 20 collisions in internal
transport per million hours worked,
16.9 collisions / million hours
worked
16.4 collisions / million hours worked
A maximum of 35 collisions in handling
areas per million hours worked
73 collisions / million hours
worked
70.1 collisions / million hours worked
Key:
Objective attained in 2023
Objective not attained in 2023
The planned targets apply to Luka Koper, d. d.
The achievement of objectives is analysed in more detail below.
20.3.2 Occupational safety and health objectives for 2024
• 0 serious injuries,
• A maximum of 16.5 injuries at work per million hours worked,
• A maximum of 20 collisions in internal transport per million hours
worked,
• A maximum of 35 collisions in handling areas per million hours worked.
20.4 Compliance with occupational safety legislation
96
The basic legislation regulating occupational safety and health is the Occupational Safety and Health Act with
regulatory provisions ZVZD-1. Compliance with legislative requirements is verified by means of permanent internal
control, internal and external audits and on the basis of inspections.
In 2023, five inspections were carried out at Luka Koper d. d. by the Labour Inspectorate of the Republic of Slovenia.
Two inspections were carried out to investigate an occupational accident/unsafe occurrence, one to inspect the
situation on a construction site, one to inspect technological procedures and one related to labour relations. Two
requests for information were made and one measure was imposed. All obligations have been fulfilled and the
proceedings have been stopped.
Luka Koper d. d. received no fines from inspection decisions in 2021, 2022 and 2023.
20.5 Injuries at work
97
20.5.1 Number of injuries at work
For the purposes of injury statistics in the Luka Koper Group and the calculation of various indices presented below,
injuries at work are taken into account when requiring at least one day of sick leave. In addition to those listed, 24
95
GRI 3-3, 403-9
96
GRI 2-27
97
GRI 403-9
196 Annual report 2023 Safe and healthy port environment
other injuries in employees of Luka Koper, d. d. and 9 injuries in agency workers were recorded in 2023 but required
no sick leave.
Number of injuries at work in Luka Koper Group
2021
2022
2023
Luka Koper, d. d.
39
39 (1)
60 (1)
Recruitment agencies
24
17
29
Luka Koper Group
70
58
94
External actors
10
20
24
*The number of serious injuries in brackets, the total number outside of the brackets.
External actors include external truck drivers and providers of various works and services. A record of all reported
injuries is kept for external actors and subsidiaries, but no data on sick leave is available.
Number of injuries at work per million hours worked (Luka Koper Group) by years
In 2023, employees of Luka Koper, d. d., performed 2,804,899.95 hours of work, agency workers 617,825.11 hours
of work, and a total of 3,540,647.43 hours of work were done in the Luka Koper Group.
Compared to the previous two years, the Company records an increase in the number of injuries among employees
of Luka Koper d. d. and agency workers in 2023.
A more detailed analysis does not reveal any particular trend that stands out. These are mainly minor injuries. The
most exposed group of workers, those employed as port transport workers, suffered the highest proportion of
injuries. The body parts most frequently injured are ankles and fingers. The causes of the injuries vary, partly
related to the current conducts of the worker (wrong movements, overloading of a part of the body, loss of control
of work objects, etc.), and partly related to the growth of the port (lack of space, new recruitments - workers need
time to gain the relevant experience, etc.).
When an occupational injury occurs, an analysis of the incident is carried out, the participants/witnesses are
interviewed and, in the light of the findings, additional measures are adopted to prevent a recurrence and re-
familiarisation with health and safety measures is carried out.
20.5.2 Review of serious injuries
In August 2023, there was one serious occupational injury: a firefighter was struck by lightning The unfortunate
event occurred during a storm recovery operation (roof removal) despite the precautions taken. The effective
intervention of colleagues by offering first aid and the short response time of emergency medical aid (paramedics)
helped to ensure that the worker was successfully treated and transported for further care. The worker makes a
successful recovery.
Safe and healthy port environment Annual report 2023 197
20.5.3 Summary of collective injuries
Two collective injuries were recorded in 2023. In both cases, it was a traumatic shock as a result of an event. One
incident involved a firefighter being struck by lightning, resulting in two close colleagues being off sick for several
working days. The second incident is the unmooring of a ship that occurred in July 2023 at the container terminal
as a result of a storm. Three employees were on sick leave due to traumatic shock.
20.5.4 Summary of sick leave
Sickness absence is monitored by the indicator of the proportion of working days lost due to sickness, injury, care
and attendance. In 2023, sick leave in Luka Koper, d. d., was at 5.23 percent, which is somewhat lower than the
national average of 5.9 percent for 2023. In the Luka Koper Group, sick leave was 5.16 percent.
Proportion of working days lost due to sick leave per employee by years
20.6 Loss events
98
Loss events that are the subject of analysis are the events that resulted in pecuniary loss or material damage.
Of all the loss events recorded in the Luka Koper Group, occurrences that stand out in their numbers are the events
where the loss was due to collision.
Number of collisions in internal transport (roads, parking places) per million hours worked by years
98
GRI 403-7
198 Annual report 2023 Safe and healthy port environment
The number of collisions in internal transport (roads, parking places) has been declining over the years, which is
partly due to improvements in traffic regulation (new entrances, improvement of traffic arrangements, renovation
of the internal public transport system, safety promotion, etc.), whereas damage events are partly still related to
the human factor, i.e., compliance with traffic safety rules.
Number of collisions in handling areas per million hours worked by years
The target for the number of material damages (collisions) in handling areas was set for the first time in 2022. The
majority of cases (69%) are collisions with immovable assets (infrastructure, parked/stationary vehicles,
containers, etc.), mainly involving internal vehicles and work machinery. 30 percent of collisions on handling areas
are caused by drivers of new vehicles (external contractors). The number of collisions has been increasing in recent
years, which can be partly attributed to the increased volume of work (congestion of storage areas, record number
of external trucks in the port area, intermingling of various participants), and partly, the indicator is influenced by
participants' behaviour (non-compliance with instructions, rules, signs, etc.).
20.7 Summary of most important activities performed in the area of
occupational health and safety in 2023
99
− In order to upgrade training programmes in the company, activities to establish e-training for safe work
(theoretical part) and activities to improve the practical part of training for safe work were continued. As
part of this, a virtual reality simulator is expected to be delivered for the training of port machinery
operators. The equipment is scheduled for delivery in the first quarter of 2024.
Virtual reality simulator design
Source: Scenario Srl (for the needs of Luka Koper, d. d.)
99
3-3, 403-7, 403-9
Safe and healthy port environment Annual report 2023 199
− An application for electronic inspection of work equipment was developed. It will contribute to an easier
and shorter process of creating records of the equipment inspected and easier management of the
overall record of inspections. It has already been tested and will be rolled out to a smaller group. The
application is expected to be operational and in use by the end of 2024.
− Awareness-raising on occupational safety and health measures was carried out through the Port
Bulletin, posters, workshops and rounds in the port.
− A draft revision of the health risk assessment for all workplaces has been produced.
− An action plan to reduce risk factors has been drawn up, with key proposals to improve occupational safety
and health.
20.8 Health care
100
The Luka Koper Group takes care of the health of its employees at three different levels: by ensuring the rights
arising from the collective bargaining agreement, through a health promotion programme and by co-financing the
programme of the Luka Koper Sports Club.
20.8.1 Rights under the collective bargaining agreement
In order to facilitate workers' access to health services that are not directly related to their work, the employees
are entitled under the collective bargaining agreement to leave with pay for up to 8 hours per month to see a
personal doctor or specialist. As part of activities to promote blood donation, in addition to the legal right to be
absent on the day of donation, workers also are entitled to an additional day of paid absence.
20.8.2 Health promotion
In the Luka Koper Group, each company has its own health promotion programme, which in certain segments is
linked to the health promotion programme of Luka Koper d. d. The health promotion programme of Luka Koper, d.
d., is devised by representatives of all major organisational units, and senior management. Both employees and
agency workers are involved in activities. The health promotion priorities are based on the report of a certified
occupational physician, a survey of psychosocial risk factors and observations of employees and management. The
main priorities still comprise control of nutritional and metabolic diseases, musculoskeletal disorders, harmful
habits related to excessive use of psychoactive substances, alcohol and cigarettes, and improvement of
interpersonal relationships. Musculoskeletal disorders mostly affect machinery workers and office workers, which
is particularly due to extreme posture. In order to maintain and improve the psycho-physical fitness of employees
and agency workers, Luka Koper, d. d. has implemented the following activities:
• Successfully implemented the ‘Luka 10,000’ project. Almost 200 employees participated, making 10,000
steps a day for 30 consecutive days. Luka Koper INPO, d. o. o. also participated in the project.
• Luka Koper, d. d. distributed fresh fruit to employees and visitors six times a year.
• Guidelines for safe and healthy office work have been developed, with a focus on computer aids.
• The level of stress burden caused by work-related stress has been measured (psychosocial risks).
• The first smoking cessation workshop was held.
• A second training ground for stretching and relaxation has been installed at the dry bulk terminal.
20.8.3 Luka Koper Sports Club
Each year, Luka Koper, d. d. donates part of its funds to the Luka Koper Sports Club, which promotes an active and
healthy lifestyle and the well-being of Luka Koper Group employees. Since 1972, the club has been providing year-
round organised sports and recreational activities for its members outside regular working hours. The Club’s
activities are diversified and tailored to the needs of its 1,170 members. Activities take place in 14 sports sections,
based on a pre-approved programme of work.
100
GRI 3-3, 403-6
200 Annual report 2023 Safe and healthy port environment
20.9 Occupational health and safety activities planned in 2024
101
• Upgrade of training process (introduction of e-training for the theoretical part of
occupational safety and health (OSH) and continuation of activities to upgrade the
practical part of OSH training).
• Completion of the risk assessment and implementation of any additional safety
measures related to the change in the legislation on manual handling of loads.
• Implementation of an application for electronic management of work equipment
inspections.
• Activities to improve existing safety measures for work at height, in particular for
work where the specificities of the work process require a specific approach to
ensure that workers are adequately protected against falls from height/into depth.
• Implementation of a more comprehensive campaign to raise awareness of the
importance of occupational safety and health measures.
101
GRI 403-9
Care for employees Annual report 2023 201
21 Care for employees
21.1 Employee management and training system
102
The identified impacts under the employee management and training system are shown in Item 17.5 ‘Materiality
Matrix and Identified Impacts’.
Luka Koper, d. d., monitors the management of actual positive impacts by periodically measuring the organizational
climate, satisfaction and engagement of employees, most recently through an online survey in 2022. SIOK and
Gallup questionnaires were used to enable comparability of results. The results were compared with the Slovenian
average and with four large comparable companies. In 2023, a number of workshops were organised to present
the results to staff, management and social partners with the aim of finding the reasons or causes for the results
achieved. Despite the relatively high scores achieved, the negative trend compared to the 2019 measurement has
led to an action plan for improvement. The results in the area of organisational climate and employee satisfaction
are above the Slovenian average and the average of comparable large companies, while the result in the area of
employee engagement is below the Slovenian average and the average of comparable large companies.
The Luka Koper Group is considered an important employer in the region, with an impact on employment in other
supporting activities.
Indicators monitored by the organisation in 2023:
• Implementation of the personnel plan (lengthy recruitment procedures, inadequate applications to
vacancy announcements, failure to pass medical examinations and refusal of offers of employment):
94%. 160 employments were formed in Luka Koper, d. d., and 172 at the level of the Luka Koper Group.
• Implementation of the Agency Workers Plan: 100%.
• Low employee turnover (2.3 in Luka Koper, d. d. and 2.6 in Luka Koper Group).
• Assessment of the suitability of new recruits (100% successfully completed probationary period).
• Proportion of employees involved in annual interviews at the level of Luka Koper d. d. and B-1: 55% and
69% respectively.
• Proportion of managers with highly developed managerial competences: 85.3%.
• Proportion of employees involved in training: 88%.
• Average number of hours of training per employee: 19.1 hours.
• Proportion of internal staffing for key positions: 79%.
Targeted implementation of functional training of employees is a strategic activity of the Company. The approach
is set out in the Company’s internal guidance on HR training and education, knowledge transfer systems and co-
financing ongoing training. Training objectives, programmes and funds are included in the Company’s annual
business plan. The starting points for training are the needs of the work processes, the required and desired skills
for the jobs and the less developed competences. Success of the chosen approach is monitored by measuring
satisfaction after the completed training, by means of exams, promotions of employees to higher level of
qualification and workplace flexibility based on acquiring, transferring and using knowledge, assessments of staff
competences in annual interviews and assessments of tutors. Most of the training is internally organised
programmes and work induction programmes as part of the mentoring and coaching scheme for each new
employee or when employees are assigned to another workplace.
Digitalisation of operations is one of our most important strategic objectives. Using new technologies, Luka Koper,
d. d., will carry out a digital transformation of key processes. In 2023, the co-funded projects provided training to
employees to enhance and strengthen digital competences related to the introduction of advanced digital
technologies in business processes. Training was provided in information and data literacy, communication and
collaboration, digital content creation, information security and the use of e-applications.
102
GRI 2-7, 2-8, 2-26, 3-3
202 Annual report 2023 Care for employees
Employee engagement affects satisfaction, performance, organisational results, i.e., service quality and company
affiliation. The quality and responsible conduct of annual interviews and the facilitation of employee growth and
career development have a significant impact on engagement. At Luka Koper d. d., the indicator for the proportion
of annual interviews conducted at B-1 level in 2023 was 68 percent and at the level of the company 55 percent. The
annual interviews are computerised. In 2024, a set of activities will be developed to raise this percentage, in
particular to link annual interviews to the promotion and remuneration process. Measures to improve engagement
relate in particular to improving annual interviews and a clear hierarchy structure.
Every third employee, or 35 percent of employees in the Luka Koper Group, received one of the forms of career
development, i. e. promotion to another more demanding position or promotion to a higher level of qualification
and flexibility in the workplace. At Luka Koper, d. d., the share of internal recruitment in key positions is also
monitored, which was 79 percent in 2023. A more transparent system of career development is being established,
with clear criteria for promotion and a distinction between career development and internal vacancy
announcements, with a view to filling vacancies more quickly.
Engagement is also affected by the quality of leadership. In 2023, the Leadership Academy, a training programme
integrating managers from all levels of the organisation, is being run. The content of the Leadership Academy
includes topics in leadership skills development, as well as topics that have been identified as opportunities for
improvement in the measurement of climate, satisfaction and engagement. The 360-method assessment of
managers confirmed the planned value of the indicator on the proportion of managers with highly developed
leadership competences, i.e. an overall competence score of at least 4 on a scale of 1 to 5, not including the
manager's self-assessment. The share of such managers was 85.3 percent.
Employee benefits, described in Chapter 21.1.11 ‘Employee benefits’, increase employee loyalty and reduce
turnover.
The good practice of providing each new recruit with a Code of Ethics and a practical guide to ethical conduct at the
time of recruitment continues. This is the first time employees are made aware of responsible behaviour policies
and practices, whereas communication with employees during the course of their employment takes place both
through a customised mobile app and through traditional, printed media. The Luka Koper Group communicates
with the employees mostly through the following key communication channels:
• Short news or notifications that are received by all employees via e-mail or is posted on bulletin
boards by secretarial services;
• Mobile application that enables a secure connection to the company's information environment;
Company employees can access e-mail, the LukaNET intranet portal, the absence management
system, the online e-learning platform and the online platform for conducting annual interviews,
• Luški glasnik/Port Bulletin, a printed monthly the mission of which is to keep all employees and
the wider port community informed about what is happening in Luka Koper, as well as to bring
employees together and facilitate their continued growth and development.
The Company has an Intranet site, LukaNET, where general information, all internal documents of the company,
platforms and instructions are available to the employees if they need them for the performance of work.
Human resources management is based on strategic documents, which are implemented through annual
personnel and training plans as part of the company's business plans. The 2020 - 2025 Strategic Plan has been the
basis so far. In 2023, the new 2024-2028 Strategic Business was adopted, which also defines the HR orientations,
objectives and projects, which are as follows:
• Ensuring an adequate personnel structure to support growth and be ready for the climate transition and
introduction of the smart port concept;
• Upgrade staff skills in digital competences, targeted and project management and sustainable
development;
• Reduce occupational injuries and health impacts on employees through continuous improvement, as the
safety and health of employees and other actors in the port are a prerequisite to execute any activities;
• Focus on innovation and connect with development institutions to apply new technologies and create a
comparative advantage;
• Increase operational efficiency and optimise capacity utilisation, thereby improving revenue and cost
efficiency.
Human resource management policies and practices are set out in the company's internal documents. Recruitment
procedures are run in a transparent and non-discriminatory manner through HR committees. All employees have
the possibility for further development by being included in annual interviews and training. Efficiency of human
resource management is monitored through turnover and sick leave indicators (below the Slovenian average), by
Care for employees Annual report 2023 203
means of a bi-annual assessment of organisational climate, employee satisfaction and engagement, by assessing
all management functions based on the 360-degree method, and by assessing cooperation between organisational
units. The aim of the last indicator is to ensure coordinated efforts of units to achieve common goals and to serve
as an indicator of performance for all units from the perspective of working with users of services.
Data, shown later in this Chapter, were obtained from the personnel records of the SAP information system.
21.1.1 Number of employees by company and in the Luka Koper Group
31 Dec 2021
31 Dec 2022
31 Dec 2023
Luka Koper, d. d.
1.577
1.638
1.757
Luka Koper INPO, d. o. o.
131
131
133
Adria Terminali, d. o. o.
25
27
27
TOC, d. o. o.
5
5
5
Luka Koper Group*
1.738
1.801
1.922
* Logis-Nova, d. o. o. and Adria Investicije, d. o. o., subsidiaries of the Luka Koper Group, are not included in the
table since they have no employees.
21.1.2 Number of employees in Luka Koper, d. d. as at 31 December by gender
103
As at 31 Dec 2023
Number of
employees
Share in %
Number of
employees
Share in
%
Number of
employees
Share of ALL
employees in %
Men
Women
Total
Employees
Luka Koper, d. d.
1,596
90.8
161
9.2
1,757
100.0
Luka Koper Group
1,747
90.9
175
9.1
1,922
100.0
Indefinite Employee
Luka Koper, d. d.
1,594
90.9
159
9.1
1,753
99.8
Luka Koper Group
1,744
91.0
175
9
1,916
99.7
Fixed-Term Employee
Luka Koper, d. d.
2
50.0
2
50.0
4
0.2
Luka Koper Group
3
50.5
3
50.5
6
0.3
Zero-hour Employee
This form of work does not apply.
Full-time Employee
Luka Koper, d. d.
1,591
91.1
156
8.9
1,747
99.4
Luka Koper Group
1,735
91.1
170
8.9
1,905
99.1
Part-time Employee
Luka Koper, d. d.
5
50.0
5
50.0
10
0.6
Luka Koper Group
12
70.6
5
29.4
17
0.9
Methodology: The table shows the numerical situation as at the last day of the reporting period (31 Dec). For each
element, the share/percentage of the total result is shown. The overall result is shown as a share/percentage of
all employees in Luka Koper, d. d. or in the Luka Koper Group. Employees in tables are shown only by male and
female gender, as there are no employees who identify themselves differently (category 'other' or 'undisclosed').
103
GRI 2-7, 405-1
204 Annual report 2023 Care for employees
On the last day of 2023, the Luka Koper Group had 1,922 employees, an increase of 121 employees or 7 percent
from the year before. The growth trend in the Luka Koper Group and Luka Koper, d. d. thus continues.
Due to the nature of the work, 91 percent of the workforce is male. The employment in the basic transhipment
process of Luka Koper, d. d., and the transitions of agency workers to full-time employees have had a decreasing
impact on the proportion of women in the workforce, despite the fact that more and more women are also working
in jobs traditionally associated with male labour, e.g. crane operator, harbour machinery driver, lorry driver,
foreman, warehouseman, security guard.
The employees have permanent contracts, while less than one per cent of the employees have a fixed-term
employment relationship (managerial, replacement, project-related work). In the past years, induction into the job
or increased workload were among the reasons for the fixed-term employment.
Over 99 per cent of Luka Koper Group employees work full time. In two-thirds of cases, the reason for the reduced
working time is disability, followed by parenthood and, in some cases, illness, partial retirement and project-related
work.
21.1.3 Number of employees in Luka Koper, d. d. as at 31 December by region of
residence
104
As at 31 Dec 2023
Number
of
employe
es
Share
in %
Numb
er of
emplo
yees
Share
in %
Numb
er of
emplo
yees
Share
in %
Numb
er of
emplo
yees
Share
in %
Numb
er of
emplo
yees
Share
in %
Numb
er of
emplo
yees
Share
in %
Number
of
employe
es
Share of ALL
employees in
%
Coast-Karst
Region
Primorska and
Notranjska
Region
Central
Slovenia
Goriška Region
Other region
Other country
Total
Employees
Luka Koper, d. d.
1,597
90.9
121
6.9
9
0.5
7
0.4
1
0.1
22
1.3
1,757
100.0
Luka Koper Group
1,756
91.4
125
6.5
9
0.5
9
0.5
1
0.1
22
1.1
1,922
100.0
Indefinite Employee
Luka Koper, d. d.
1,594
90.9
121
6.9
8
0.5
7
0.4
1
0.1
22
1.3
1,753
99.8
Luka Koper Group
1,751
91.4
125
6.5
8
0.4
9
0.5
1
0.1
22
1.1
1,916
99.7
Fixed-Term Employee
Luka Koper, d. d.
3
75.0
1
25.0
4
0.2
Luka Koper Group
5
83.3
1
16.7
6
0.3
Zero-hour Employee
This form of work does not
apply
Full-time Employee
Luka Koper, d. d.
1,588
90.9
121
6.9
8
0.5
7
0.4
1
0.1
22
1.3
1,747
99.4
Luka Koper Group
1,740
91.3
125
6.6
8
0.4
9
0.5
1
0.1
22
1.1
1,905
99.1
Part-time Employee
Luka Koper, d. d.
9
90.0
1
10.0
10
0.6
Luka Koper Group
16
94.1
1
5.9
17
0.9
Displaying the highest share, i.e., 91 percent to originate in the Coastal and Karst Region, the structure of
employees by region of residence reflects the nature of transhipment, i. e., ensuring the continuous provision of
services throughout the year and flexibility of services. The increase in the percentage of employees from the Coast-
Karst Region is the result of employees having arranged their residence closer to their place of work.
104
GRI 2-7
Care for employees Annual report 2023 205
21.1.4 Number of agency workers
105
31.12.2021
31.12.2022
31.12.2023
Luka Koper, d. d.
324
352
431
Luka Koper Group
332
359
439
Methodology: The table shows the number of agency workers on the last day of the reporting period (31 Dec).
In addition to regular employees, the Luka Koper Group also employs agency workers, who are equal in rights and
obligations to regular employees. The business model of Luka Koper d. d. provides for agency work due to the
uncertain economic market conditions as a consequence of the global situation. In order to ensure the smooth
implementation of the labour process, a new procurement procedure for agency work was carried out in 2022 (Call
for Tender 124/2022). Four recruitment agencies were selected in the call for tenders and Luka Koper, d. d.,
concluded with them a Framework Agreement for the posting of workers to the user for a period of 4 years. As at
31 Dec 2023, there were 431 posted agency workers in Luka Koper, d. d. They perform work in the basic handling
and warehousing process (foreman, truck driver, port transport worker and qualified port transport worker - forklift
driver). Terminations and recruitments of selected candidates from the ranks of agency workers among the regular
employees of Luka Koper d. d. are replaced on a regular basis. There were additional 8 posted agency workers in
the Luka Koper Group in the position of sailor - maintenance technician. As at 31 Dec 2022 and 31 Dec 2023, the
total number of agency workers in the Luka Koper Group was 359 and 439 respectively, which shows an increase
of 22 percent.
21.1.5 Share of employees in Luka Koper, d. d. and Luka Koper Group covered by
collective bargaining agreement
106
Luka Koper, d. d.
Luka Koper Group
31 Dec 2021
31 Dec 2022
31 Dec 2023
31 Dec 2022
31 Dec 2023
Employees covered by
collective agreement
98.2
98.2
98.1
98.1
97.8
Employees outside the
collective agreement
framework
1.8
1.8
1.9
1.9
2.2
TOTAL
100.0
100.0
100.0
100.0
100.0
97.8 percent of Luka Koper Group employees have an employment contract based on the collective bargaining
agreement. On the basis of the legislation governing remuneration of managers in majority-owned companies of
the Republic of Slovenia, the Remuneration Policy of the Management and Supervisory Bodies of Luka Koper, d. d.
and the Management Bodies of the Subsidiaries in the Luka Koper Group, adopted on 25 May 2023, applies to the
directors of subsidiaries. Luka Koper, d. d., uses the Remuneration Policy for Employees under Special
Employment Contracts, as amended on 20 September 2022. The terms and conditions of employment are defined
in the job descriptions in accordance with the systemisation of jobs or the Act on Systemisation (adopted on 14
August 2018).
105
GRI 2-8
106
GRI 2-19, 2-20, 2-30
206 Annual report 2023 Care for employees
21.1.6 Employee structure in Luka Koper, d. d. and Luka Koper Group by age group
107
Luka Koper, d. d.
Luka Koper Group
Age groups
(years)
31 Dec 2021
31 Dec 2022
31 Dec 2023
31 Dec 2022
31 Dec 2023
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Share
in %
Under 30
175
11.1
157
9.6
176
10.0
165
9.2
182
9.5
30–50
1,132
71.8
1,192
72.8
1,242
70.7
1,269
70.5
1,318
68.6
Over 50
270
17.1
289
17.6
339
19.3
367
20.3
422
22.0
Total
number of
employees
1,577
100.0
1,638
100.0
1,757
100.0
1,801
100.0
1,922
100.0
Average age
of
employees
41.9
42.2
42.3
42.8
42.9
Methodology: The data are shown numerically and as a share in the reported period.
The average age of employees in the Luka Koper Group and Luka Koper, d. d. is increasing.
21.1.7 Recruitment and departures in Luka Koper, d. d., and the Luka Koper Group by
gender
108
As at 31 Dec 2023
Number of
employees
Share in
%
Number of
employees
Share in
%
Number of
employees
Share in %
Men
Women
Total
Recruitment by gender
Luka Koper, d. d.
145
90.6
15
9.4
160
100.0
Luka Koper Group
157
91.3
15
8.7
172
100.0
Departures by gender
Luka Koper, d. d.
37
90.2
4
9.8
41
100.0
Luka Koper Group
48
92.3
4
7.7
52
100.0
Methodology: The data are shown numerically and as a share in the reported period.
Despite non-discriminatory job announcements, 91 percent of the new candidates in employment procedures were
male.
107
GRI 2-7
108
GRI 401-1
Care for employees Annual report 2023 207
21.1.8 Recruitment and departures in Luka Koper, d. d., and the Luka Koper Group by
age group
109
As at 31 Dec 2023
Number of
employees
Share in
%
Number of
employees
Share in
%
Number of
employees
Share in
%
Number of
employees
Share in
%
Under 30
30–50
Over 50
Total
Recruitment by age group
Luka Koper, d. d.
53
33.1
98
61.3
9
5.6
160
100.0
Luka Koper Group
54
31.4
104
60.5
14
8.1
172
100.0
Departures by age group
Luka Koper, d. d.
6
14.6
20
48.8
15
36.6
41
100.0
Luka Koper Group
6
11.5
22
42.3
24
46.2
52
100.0
In line with the growth in turnover, employment is also growing, especially in the core transhipment process. There
is an increase in the proportion of recruitments in the older age groups, which is due to the transition of experienced
persons from agency workers to full-time employees and to the recruitment to professional and managerial
positions. The proportion of departures in the younger age groups is increasing.
21.1.9 Recruitment and departures in Luka Koper, d. d., and the Luka Koper Group by
region of residence
110
As at 31 Dec 2023
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Share
in %
Coast-Karst Region
Central Slovenia
Primorska and
Notranjska Region
Other
Total
Recruitment by region
Luka Koper, d. d.
141
88.1
6
3.8
10
6.3
3
1.9
160
100.0
Luka Koper Group
151
87.3
7
4.0
12
6.9
3
1.7
173
100.0
Departures by region
Luka Koper, d. d.
32
78.0
2
4.9
5
12.2
2
4.9
41
100.0
Luka Koper Group
41
78.8
2
3.8
7
13.5
2
3.8
52
100.0
The largest share of new recruitments is still from the Coast-Karst Region.
21.1.10 Comparison of recruitment, departures and fluctuation rate
111
Number of new employments
Number of departures
FLUCTUATION RATE
(in %)*
2021
2022
2023
2021
2022
2023
2021
2022
2023
Luka Koper, d. d.
70
109
160
27
48
41
1.6
2.8
2.3
Luka Koper Group
77
124
172
38
61
52
2.1
3.3
2.6
*Fluctuation calculation method = No of departures/(previous No of employees + new employments) x 100
Among departures, half of all departures relate to termination agreements. The number of extraordinary
terminations has been increasing. A quarter of the departures are old-age retirements, and there are some
examples of disability retirements, death and transitions between affiliated companies in the Luka Koper Group.
109
GRI 401-1
110
GRI 401-1
111
GRI 401-1
208 Annual report 2023 Care for employees
Luka Koper, d. d., and the Luka Koper Group have a significantly lower employee turnover rate than the entire
logistics industry, where the turnover is at 20 percent. The turnover rate is slightly lower compared to 2022.
21.1.11 Employee benefits
112
When it comes to employee benefits in the Luka Koper Group, there is no division among those employed for a
fixed-term or part-time, and those employed for an indefinite period or full working hours, and there is no gender
pay gap.
The only difference is related to the voluntary supplementary pension insurance, in case of which temporary
employees are paying their monthly premiums themselves, whereas others are co-financed different shares of the
legal premium depending on the age of the employee.
Having met the relevant conditions, all employees are covered by financial incentive instruments.
Social security, health insurance and pensions are in place for all. Employees can also take out accident insurance
and insurance for medical check-ups with specialists on favourable terms.
The provisions on salaries and benefits applicable to employees also apply to agency workers. They are paid at the
same rate or under the same conditions as regular staff in the same posts and on the same payday. They are
entitled to allowances for individual and business performance bonuses, and the same amount of holiday
allowance, Christmas and business performance bonuses. They are currently not yet subject to the flexibility and
competence level allowance and are not covered by the supplementary voluntary pension scheme.
In 2023, employees were regularly receiving the monthly payment of salary, which is aligned to the 6-month growth
of the inflation index in compliance with the provisions of the collective bargaining agreement. If the positive growth
in value added per employee is recorded, the signatories of the collective bargaining agreement agree on a salary
increase, which must remain behind productivity growth. The average salary in Luka Koper is higher than the
Slovenian average salary. In 2023, the minimum gross salary amounted to EUR 1,203.36, and the guaranteed wage
was EUR 237.73. There were no payments below the guaranteed wage in 2023 in both Luka Koper, d. d. and the
Luka Koper Group. In 2023, salaries of employees in Luka Koper, d. d., exceeded the statutory minimum wage in
the Republic of Slovenia; only in exceptional cases, individual employees were entitled to the payment of the
statutory supplement to the minimum wage. The number of employees who received at least one minimum wage
supplement in 2023 was 353, in 14 different positions. Annual leave allowance, Christmas bonus and performance
bonus were paid. In accordance with the criteria of the enterprise collective agreement, group merit is awarded
quarterly. A great majority of employees participate in the voluntary supplementary pension insurance. Since 2018,
upon retirement, employees receive an additional severance payment from the post-employment fund in addition
to the severance pay in accordance with the legislation.
In 2023, the ratio of the total annual salary of the highest paid individual in the organisation to the median total
annual salary for all employees (excluding the highest paid individual) was as follows:
• 4.59 for Luka Koper, d. d., and
• 4.67 for the Luka Koper Group.
The increase in the total annual salary of the highest paid individual of the organisation against the average increase
in the total annual salary of all employees (except the highest paid individual) was as follows:
• for Luka Koper, d. d., 8.96 percent for the highest paid individual and 1,67 percent on average for all
employees; the percentage increase in the total annual salary for the highest paid individual in the
company being 0.19 of the average percentage increase in the total annual salary for all employees
(except the highest paid individual); and
• for the Luka Koper Group, 8.96 percent for the highest paid individual and 2.02 percent on average for all
employees; the percentage increase in the total annual salary for the highest paid individual in the group
112
GRI 2-21, 201-3, 202-1, 401-2
Care for employees Annual report 2023 209
being 0.23 of the average percentage increase in the total annual salary for all employees (except the
highest paid individual).
The annual gross salary data is taken from the calculation of regular and variable performance-related salaries
for employees under the collective bargaining agreement and regular salaries for employees under management
and other individual contracts (excluding the payment of variable salaries in 2022, which are calculated after the
annual report has been approved). The median calculation comprises employees who were paid by Company/Group
for a full year's pool of full-time regular hours. The average increase of total annual salary was calculated on the
basis of the hours worked by all employees except the highest paid individual.
21.1.12 Number of Luka Koper, d. d., and the Luka Koper Group employees who took
parental leave and returned to their workplace, by gender
113
Exercising parental rights:
Luka Koper, d. d.
Luka Koper
Group
2021
2022
2023
2023
Men
95
97
94
98
Women
9
9
9
9
TOTAL
104
106
103
107
All employees have the right to exercise parental rights, which comprise maternity, paternity and parental leave.
Anyone who applies is allowed to use it. All employees who exercise their parental right, return to the same
workplace at the end of their leave. Five employees who exercised parental leave rights in 2023 have not yet
completed their entitlements by 31 December 2023. After 12 months, 103 of the 106 employees who used parental
rights in 2022 are still employed. The reasons for termination are not related to parental leave (1 consensual
termination, 1 retirement, 1 extraordinary termination due to the presence of illegal psychoactive substances in
the workplace).
Return to work after exercising parental rights in 2023 (immediately) and maintaining employment after 12 months:
Luka Koper, d. d.
Luka Koper Group
2023
immediately
2023 ratio
returned/left
2023
after 12
months
2023
immediately
2023
ratio
returned/left
Men
90
0.95
94
94
0.96
Women
8
0.88
9
8
0.88
TOTAL
98
0.95
103
102
0.95
113
GRI 401-3
210 Annual report 2023 Care for employees
21.1.13 Education structure of employees as at 31 December
Luka Koper, d. d.
Luka Koper Group
Level of
education
No of
employees
31 Dec 2023
Share (%)
31 Dec 2023
No of
employees
31 Dec 2022
Share (%)
31 Dec 2022
No of
employees
31 Dec 2023
Share (%)
31 Dec 2023
No of
employees
31 Dec 2022
Share (%)
31 Dec 2022
VIII/2
3
0.2
1
0.06
3
0.2
1
0.06
VIII/1
24
1.4
25
1.5
26
1.4
27
1.5
VII
140
8.0
130
7.9
148
7.7
139
7.7
VI/2
248
14.1
245
14.9
255
13.3
251
13.9
VI/1
122
6.9
117
7.1
129
6.7
124
6.9
V
532
30.3
481
29.4
575
29.9
524
29.1
IV
550
31.3
505
30.8
607
31.6
559
31.0
III
16
0.9
17
1.04
28
1.5
29
1.6
I–II
122
6.9
117
7.1
151
7.9
147
8.2
TOTAL
1,757
100.0
1,638
100.0
1,922
100.0
1,801
100.0
The intensive recruitment implemented for operating positions in the basic transhipment and warehousing
process, for which lower levels of education are sufficient, has affected the education structure of Luka Koper, d.
d., and the Luka Koper Group, mainly by increasing the proportion of employees with level IV and V education. 1.5%
of employees receive co-financing for attaining higher education through an education contract, and employees
also participate in higher education programmes on their own initiative and with their own financial resources.
21.1.14 Diversity of employees in Luka Koper, d. d., and the Luka Koper Group by job
category
114
Luka Koper, d. d.
Luka Koper Group
31 Dec 2021
31 Dec 2022
31 Dec 2023
31.12.2022
31 Dec 2023
Number of
employees
Share
in %
Number of
employees
Share
in %
Number of
employees
Shar
e in
%
Number of
employees
Share
in %
Number of
employees
Share
in %
Management
(Management
Board, b-1)
20
1.3
22
1.3
23
1.3
25
1.4
26
1.4
Other
management
341
21.6
317
19.4
338
19.2
334
18.5
358
18.6
Highly skilled
185
11.7
193
11.8
204
11.6
203
11.3
214
11.1
Operators
1,031
65.4
1,106
67.5
1,192
67.8
1,239
68.7
1,324
68.9
Total
1,577
100.0
1,638
100.0
1,757
100.0
1,801
100.0
1,922
100.0
114
GRI 405-1
Care for employees Annual report 2023 211
21.1.15 Diversity of employees in Luka Koper, d. d., and the Luka Koper Group by job
category and by gender
115
As at 31 Dec 2023
Number of
employees
Share in %
Number of
employees
Share in
%
Number of
employees
Share in %
Men
Women
Total
Management (Management Board, b-1)
Luka Koper, d. d.
17
73.9
6
26.1
23
100.0
Luka Koper Group
19
73.1
7
26.9
26
100.0
Other management
Luka Koper, d. d.
321
95.0
17
5.0
338
100.0
Luka Koper Group
343
94.8
19
5.2
362
100.0
Highly skilled
Luka Koper, d. d.
141
69.1
63
30.9
204
100.0
Luka Koper Group
147
68.7
67
31.3
214
100.0
Operators
Luka Koper, d. d.
1,117
93.7
75
6.3
1,192
100.0
Luka Koper Group
1,238
93.8
82
6.2
1,320
100.0
Total
Luka Koper, d. d.
1,596
90.8
161
9.2
1,757
100.0
Luka Koper Group
1,747
90.9
175
9.1
1,922
100.0
21.1.16 Diversity of employees in Luka Koper, d. d., and the Luka Koper Group by job
category and by age group
116
As at 31 Dec 2023
Number of
employees
Share in
%
Number of
employees
Share in
%
Number of
employees
Share in %
Number of
employees
Share in %
Under 30
30–50
Over 50
Total
Management (Management Board, b-1)
Luka Koper, d. d.
/
/
11
47.8
12
52.2
23
100.0
Luka Koper Group
/
/
11
42.3
15
57.7
26
100.0
Other management
Luka Koper, d. d.
12
3.6
236
69.8
90
26.7
338
100.0
Luka Koper Group
12
3.3
245
67.7
105
29.0
362
100.0
Highly skilled
Luka Koper, d. d.
8
3.9
147
72.1
49
24.0
204
100.0
Luka Koper Group
8
3.7
153
71.5
53
24.8
214
100.0
Operators
Luka Koper, d. d.
156
13.1
848
71.1
188
15.8
1,192
100.0
Luka Koper Group
162
12.3
909
68.9
249
18.9
1,320
100.0
Total
Luka Koper, d. d.
176
10.0
1,242
70.7
339
19.3
1,757
100.0
Luka Koper Group
182
9.5
1,318
68.6
422
22.0
1,922
100.0
115
GRI 405-1
116
GRI 405-1
212 Annual report 2023 Care for employees
9.2% of employees at Luka Koper, d. d., are women (9.1% in the Luka Koper Group). In terms of job category, the
proportion of women is highest in the professional ranks (30.9% for Luka Koper, d. d. and 31.3% for the Luka Koper
Group). In terms of age groups, the proportion of employees in the 30-50 age group is the highest (70.7% for Luka
Koper, d. d., and 68.6% for the Luka Koper Group). The structure of the workforce has a low proportion of young
people under 30 (10% for Luka Koper, d. d., and 9.5% for the Luka Koper Group), which the result of the intensive
search for and recruitment of candidates with experience.
21.2 Educating and training of employees
21.2.1 Employee training
117
In 2023, 88 percent of employees were included in training programmes. The average number of training hours in
the Luka Koper Group and Luka Koper, d. d. was 19.1 and 19.2 hours respectively. The slightly lower number of
training hours compared to 2022 is due to the number of online training programmes delivered by external training
institutions (webinars) and the introduction of new online programmes in the internal training platform Knowledge
Room, which are shorter in duration than traditional training formats. The online classroom can be accessed by all
employees, including those who do not have access to a computer at work, via the Capsule mobile app and shared
computers. An online test of occupational safety knowledge is being set up.
As part of establishing the Knowledge Centre, activities are underway to procure a virtual reality simulator to
simulate work on key machinery and to set up premises, training grounds and equipment for the practical part of
training.
Average number of hours of training and share of employees involved in education, in Luka Koper, d. d.
117
GRI 2-26, 404-1
Care for employees Annual report 2023 213
Average number of hours of training in Luka Koper, d. d., and the Luka Koper Group, by gender and job category
Luka Koper, d. d.
Luka Koper Group
2021
2022
2023
2023
All employees
15.1
20.8
19.2
19.1
Women
21.7
15.7
15.2
14.8
Men
7.5
21.3
20.6
19.6
Management (Management
Board, b-1)
28
21.9
36.5
32.5
Other management
6.1
13.5
19.6
19.1
Highly skilled
26.5
22.8
17.3
17.0
Operators
5.2
22.5
20.4
19.4
The average number of training hours is significantly higher for men than for women, mainly as a result of
employment and training in the operation of machinery in the core process. This also results in a high average
number of hours of training for operators.
21.2.2 Introduced programmes
118
The training programmes are linked to the needs of work processes. Every staff member is included in the induction
plan as part of the mentoring and coaching system when they are recruited or assigned to another position.
In addition to the skills required by law and the skills required to do the job, job descriptions also include skills that
improve the performance of the work process. The acquisition and use of these skills enable the employee to
advance or be promoted to a higher level of competence and flexibility in the existing job. Employees are involved
in training throughout their employment. Most of the training is organised within regular working hours.
Based on the assessment of employees' development potential, individual employee development plans were
drawn up with programmes to develop managerial and social competences.
By training operators to manage various types of machinery, we ensure that they have the flexibility to move
between units according to work needs.
Luka Koper implements the concept of lifelong learning through continuous training and refresher courses for
employees to improve communication skills, foreign languages, project management, training for internal auditors,
training for Works Council members and trade union representatives, management skills, technical training, public
procurement, and training for knowledge transfer instructors.
The range of training content for strengthening digital competences and a healthy lifestyle has been increasing.
Retirement preparation workshops or meetings are organised for employees from time to time, presenting the
legislation on retirement, the experience of Luka Koper pensioners and the possibilities of joining the Luka Koper
pensioners' association, the possibility of working as a port guide after retirement and continuing to receive the in-
house newsletter, the Port Bulletin. No other specific training programmes are provided for pre-retirement
employees, but they are included in the regular training programmes together with other younger employees.
21.2.3 Career development of employees
119
Luka Koper, d. d., provides employees with opportunities for personal and professional development through
promotions to other, more demanding positions and by placing employees at a higher level of competence and
flexibility in their current position. Following the completion of the 2021 project, a more transparent system is being
established for the promotion or career development of employees. A distinction is being made between career
development and internal job advertisements to fill vacant positions more quickly. The process of identifying
successors is continuous. The employee participates in the process of measuring social and managerial
competences voluntarily on the basis of self-registration, the proposal of the unit management, co-financing of
education or the proposal of the HR department when recruiting for positions where a successor has not been
118
GRI 404-2
119
GRI 404-3
214 Annual report 2023 Care for employees
identified. Identification of new candidates is mainly based on an analysis of the annual interviews, during which
employees highlight their career ambitions. A pool of successors, i. e., a pyramid of successions in key positions
have been established. The system enables early identification of young prospective personnel. An individual
development plan is drawn up for employees in cooperation with unit management. In order to prepare the
succession plan for b-1 level, the competences for such positions (goal-oriented leadership, innovation and
initiative, problem solving, teamwork, conflict resolution and introducing unpopular measures) are specifically
measured for the employees with the highest development potential.
Promotion and internal mobility of employees
Vertical and horizontal
promotion
Classification into a higher
level of qualifications and
flexibility
Total internal employee
mobility
Luka Koper, d. d.
2021
2022
2023
2021
2022
2023
2021
2022
2023
Number
103
149
139
354
480
476
457
629
615
Share
6.5
9.1
7.9
22
29
27.1
29
38
35.0
Luka Koper Group
2021
2022
2023
2021
2022
2023
2021
2022
2023
Number
165
508
673
Share
8.6
26.4
35.0
The data for the Luka Koper Group were obtained in 2023.
Proportion of employees involved in career development in 2023, by gender and job category
By gender
By job category
Luka Koper, d. d.
Men
Women
Management
(Management
Board, b-1)
Other
management
Highly
skilled
Operators
Number
556
59
3
117
64
431
Share (of all employees)
31.6
3.4
0.2
6.7
3.6
24.5
Luka Koper Group
Men
Women
Management
(Management
Board. b-1)
Other
management
Highly
skilled
Operators
Number
613
60
3
122
64
484
Share (of all employees)
31.9
3.1
0.2
6.3
3.3
25.2
In 2023, both in Luka Koper, d. d., and in the Luka Koper Group, 35 percent of employees were involved in some
form of career development, such as promotion to another position or to a higher level of qualification and flexibility
at work. Significantly more men than women are involved in career development. The highest number of
promotions was among executive staff. Luka Koper, d. d., monitors the indicator for the percentage of internal
promotion to key positions, which at 79 percent exceeds the planned target of 50 percent.
21.3 Ensuring safety of employment and social security of employees
The disability issue was dealt with by an established pattern of past practice by employing a share of disabled
employees in the Luka Koper Group, in the disability company Luka Koper INPO, d. o. o. The share of employees
with the disability status in Luka Koper, d. d., stood at 1.4 percent as at 31 December 2023. In 2023, two employees
with acquired disability status were reassigned from Luka Koper, d. d. to the disability company Luka Koper INPO,
d. o. o.
Care for employees Annual report 2023 215
Disability – Number of disabled employees and their share in Luka Koper, d. d., and the Luka Koper Group
Luka Koper, d. d.
Luka Koper
Group
31 Dec 2021
31 Dec 2022
31 Dec 2023
31 Dec 2023
Number of disabled employees
20
20
24
98
Share (%)
1.3
1.2
1.4
5.1
Number of disabled employees and their share in Luka Koper, INPO, d. o. o.
31 Dec 2021
31 Dec 2022
31 Dec 2023
Number of disabled employees
73
73
74
Share (%)
55.7
55.7
55.6
21.4 Cooperation with educational institutions
120
The Luka Koper Group acts in a socially responsible manner in the field of development and education in the local
and wider environment. It cooperates with many educational institutions in ensuring the mentorship of essays and
diploma papers and offering compulsory internship to secondary school and university students and participates in
school career fairs. In 2023, Luka Koper, d. d., co-financed the acquisition of a higher level of education for 1.5
percent of employees. In the last two years, it has intensified company scholarships for youth, with 10 contracts
having been concluded for this purpose.
120
GRI 2-26
216 Annual report 2023 Social responsibility
22 Social responsibility
121
The company's activities have a negative impact on the social environment, particularly in terms of environmental
issues. Negative factors affecting the local community and the social environment are identified and addressed in
the sustainability report.
These themes are recognised in the organisation's policies, identified in internal quality management system
documents and already recorded in the report under management approaches. The relations and impacts on the
social environment are described in detail in the Sustainable Development and Social Responsibility Strategy of
Luka Koper, d. d., which sets out the objectives that the company aims to achieve in cooperation with local and
institutional stakeholders and taking into account the best international practices.
The port of Koper is located in the urban environment of the historic city centre of Koper and the Municipality of
Ankaran, whereas in the hinterland, it borders the protected area of Škocjanski Zatok. Therefore, concern for the
quality of people’s lives and environmental protection is a priority highlighted in all development documents and
key policies of the Company. The Company incorporated the principles of sustainable development into its
operations and strategic orientations some time ago. In 2023, the Luka Koper Group continued to implement
activities to achieve the objectives set out in the 2020-2025 Strategic Business Plan. In the 2024-2028 Strategic
Business Plan, which was adopted in November 2023, the Luka Koper Group stated as its mission for the next five-
year period to provide reliable, high-quality port services in line with sustainable development guidelines - with the
aim of becoming the first choice among ports on the European southern transport route. The planned development
is based on four starting points which provide for increasing infrastructure capacity and capability, accelerating the
introduction of the smart port concept, ensuring adequate staffing, as well as taking care of sustainability aspects
and reducing negative impacts on the environment and society.
The Luka Koper Group works well with the local community and aims to strengthen mutual relations through
various joint projects. In July 2018, Luka Koper, d. d. and the Municipality of Koper signed a Letter of Intent and
agreed on the implementation of mitigation measures, which was materialised in November 2019 by the signing of
an Agreement on the implementation of mitigation measures to reduce the environmental impacts of port
operations. In the agreement, Luka Koper, d. d., committed to pay a dedicated annual donation of EUR 200,000 to
the Municipality of Koper in the period 2019-2023, and the municipality will distribute the funds on the basis of an
annual call for tenders to the beneficiaries - the inhabitants of the Koper city centre, who are most exposed to the
impacts of port operations due to their proximity to the port.
During the five-year period of the agreement, four public tenders were held, to which 637 applications were
submitted. Of these, 114 beneficiaries were selected and awarded grants. The municipality of Koper received a
donation in the total amount of EUR 1,000,000 from Luka Koper for this purpose.
On 22 December 2023, Luka Koper, d. d., and the Municipality of Koper signed a new agreement on the
implementation of mitigation measures to reduce the environmental impact of port operations. By signing the
agreement, Luka Koper, d. d., undertook to pay the Municipality of Koper a dedicated donation of EUR 320 thousand
each year of the duration of the agreement from 2024 onwards. Over five years, the municipality will receive a total
of EUR 1.6 million in earmarked funds, which will be distributed to beneficiaries on the basis of a public call for
tenders to implement measures to reduce the environmental impact of port operations.
In 2023, Luka Koper, d. d. paid an additional earmarked donation of EUR 40,000 to the Municipality of Koper for the
landscaping and green cover of public areas in the historic city centre of Koper. With the new park areas, the
municipality has extended the city’s green system, contributing to improved living environment and mitigating the
environmental impacts of the port operations.
121
GRI 203-2, 3-3, 413-1, 413-2
Social responsibility Annual report 2023 217
The Luka Koper Group is aware that good neighbourly relations can only be established based on fair, transparent,
and timely communication with the surrounding. It keeps adapting its communication tools to modern trends, while
remaining faithful to informing the general public and other stakeholders through the media and web portals
(www.luka-kp.si, www.zivetispristaniscem.si, www.seonet.ljse.si) and social networks. Among them is the
sustainable portal Living with the Port (Živeti s pristaniščem), which brings together information on social
responsibility, sustainable and green development activities in one place. The website also publishes and regularly
updates the results of measurements of air quality (particulate matter emissions), seawater and noise emissions
during the day, evening and night.
The attitude of the local environment towards the company Luka Koper, d. d., is checked annually by a public opinion
poll among the inhabitants of the narrow strip around the port. In 2023, a total of 405 inhabitants of the Municipality
of Koper and the Municipality of Ankaran participated in the poll. When asked how they assess the reputation of
Luka Koper, 84 percent of respondents considered it a very reputable or reputable company. According to the vast
majority of respondents (87 percent), Luka Koper, d. d., is a successful or very successful business company. Two
thirds of respondents (66 percent) also agree with the plans to extend the northern part of Pier I. A good half of the
respondents (53 percent) agree with the expansion of the port to the Ankaran Bonifika.
In order to bring the port's operations closer to the local community and the general public, in May 2023, Luka
Koper d. d. again organised the traditional Port Day, which it has been organising since 2008, providing the general
public with in-depth guided tours and activities along with a varied accompanying programme. The Port of Koper
also allows tours to organised groups during the year, and the number of such tours has been on the rise in recent
years (more than 300).
Indicators monitored by the organisation in 2023:
Public opinion poll - support for the port's spatial development plans:
• Planned share: 76%
• Realised share: 61%
• Index: 80
Public opinion poll - corporate reputation:
• Planned share: 85%
• Realised share: 84%
• Index: 99
Public opinion poll - contribution of Luka Koper to the economic development of Slovenia:
• Planned share: 78%
• Realised share: 69%
• Index: 88
22.1 Distribution of donations and sponsorships in 2023
122
The company demonstrates its social responsibility to the local environment, which is most affected by port
operations, by supporting organised groups and individuals who implement projects or activities important for the
quality of life of the population in the local area. In 2023, the Company re-launched a call for the distribution of
sponsorship and donations from the Living with the Port fund, which is primarily intended to support smaller local
projects. In the long run, the Company cooperates with key local stakeholders active in sports, culture, ecology,
science, education and humanitarian activities. In 2023, EUR 1.4 million were allocated to these activities through
sponsorships and donations.
In addition to the donation to the Municipality of Koper for the implementation of mitigation measures, in 2023, Luka
Koper, d. d., also made a major donation to help eliminate the impacts of the August floods in Slovenia. It donated
the required equipment and industrial dehumidifiers to the Administration for Civil Protection and Disaster Relief
through the Red Cross Slovenia - Koper regional branch, and in a joint campaign with Adria Terminali and Goriške
opekarne, it also participated in the donation of 241 pallets of brickwork for the needs of rebuilding damaged or
completely destroyed buildings in flood areas. At the end of the year, it also signed an agreement with the Ministry
of Finance, committing EUR 200,000 to the state to help eliminate the consequences of the floods.
122
GRI 201-1, 413-1
218 Annual report 2023 Social responsibility
22.2 Distribution and amount of donations and sponsorships in years 2021
to 2023
123
123
GRI 201-1, 413-1
Sustainable relationship with customers Annual report 2023 219
23 Sustainable relationship with
customers
124
In the context of sustainable relationships with customers, two impacts were identified and assessed in terms of
their impact on stakeholders.
Partnership with customers is one of the main building blocks of the business success of Luka Koper. The
company's specific organisation has enabled it to develop a special relationship with its customers, which it has
carefully nurtured and built on year after year: being an honest, professional and reliable business partner. In a
period of crises marked by the COVID-19 pandemic, the war in Ukraine and the new crisis in Gaza and the Red Sea,
personal contact with customers has been and remains the key to developing sustainable services and long-term
partnerships. Port promotional events and receptions for business partners in hinterland markets were organised
in 2023. Sales and marketing personnel visited key existing and potential customers in the domestic and Central
European inland markets and overseas markets. The company participated in international trade fairs as an
exhibitor and visitor. Active participation took place as part of economic delegations abroad. The company
participated and appeared as speaker at numerous national and international industry conferences, roundtables
and forums.
23.1 Regular monitoring of customer satisfaction
The company monitors customer satisfaction on several levels and in several ways . Regular ongoing
communication is crucial, and it is of key importance to respond quickly to any problems that customers might have
in their business with Luka Koper, d. d. Communication takes place through various channels in the operational,
technical and sales areas, allowing the company to keep up to date with customers' wishes and expectations. The
Company’s market representatives and agents in the main inland markets are also in daily contact with customers
to obtain information for better understanding of the markets and related requirements.
The company usually conducts a survey every two years on the satisfaction of service users, customers and the
perception of Luka Koper, d. d., compared to its competitors. A customer satisfaction survey was conducted in
autumn 2023 to measure once again how well the company is doing in ongoing monitoring of customer
expectations. The survey confirmed the expected level of customer satisfaction and pointed to further opportunities
for improvement. The next customer satisfaction survey is planned for 2025.
The Luka Koper Group works closely with the local port community, which consists of forwarders, ship brokers,
carriers, rail operators, the police, the customs, the Slovenian Maritime Administration, inspection bodies,
inspection and control service providers. The Luka Koper Group is only a part of the logistics chain, but an important
one, representing a logistics route through the port of Koper together with other stakeholders.
23.2 Efficient and careful complaint handling
The company has computer-aided procedures for entering, processing and resolving claims for billing and service
delivery, as well as prescribed procedures to prevent recurrence and reduce the number of claims, which were
further improved in 2023. Complaints are also an indicator of customer satisfaction; solving them effectively and
quickly is crucial for increasing customer satisfaction.
23.3 Consumer data protection
125
Luka Koper, d. d. is aware of the importance of personal data protection. Data is collected in accordance with
applicable legislation and used only to provide more appropriate services and to provide important information to
customers. Given the size of the company and the number of personal data collections that the company manages
124
GRI 3-3
125
GRI 2-13
220 Annual report 2023 Digital transformation
and given that the company is defined as part of the national critical infrastructure, a Corporate Integrity and
Operations Compliance, Protection of Personal Data and Human Rights Officer has been appointed in the company.
23.4 Reliability of service delivery
Luka Koper, d. d., provides port services for the handling and storage of goods for customers/buyers on a
continuous 365-day, seven-days-a-week, 24-hours-a-day, three-shift basis, based on their needs and the orders
received.
The weather conditions that occasionally cause disruptions and interruptions to cargo handling services in the Port
of Koper mainly comprise strong winds, such as northerly or tramontana in the summer months and north-easterly
or bora in the winter months. In the event of a strong wind forecast, some work processes most exposed to the
wind are interrupted in the port for the safety of workers, work equipment and cargo. The cranes at the container
terminal will automatically stop in the event of winds of 17 m/s or more. Such phenomena are rare and last mostly
a few hours or a day or two at most.
There has been no strike at Luka Koper d. d., since 2011. Orderly and exemplary relations between the Management
Board and trade unions and a high level of employee satisfaction allow work processes to run smoothly to the
satisfaction of all stakeholders and represent a competitive advantage over ports where such interruptions occur
from time to time.
Occasional interruptions due to routine maintenance of the Company's IT systems are communicated to users of
our services in good time, and in the event of technical problems with the operation of these systems, we work with
our subcontractors to resolve the problems as soon as possible and to mitigate any inconvenience that may arise.
24 Digital transformation
In 2023, one of the potential positive impacts identified was digital transformation, i. e., automation and
computerisation of processes.
In the same year, 'SMART PORT', a digitisation strategy for Luka Koper, d. d., was devised, the aim of which is to
increase the digital maturity of the company through digital technologies, improve the use of resources and
increase the port’s productivity, while also reducing its impact on the environment, which will also contribute to
reducing operating costs. A broader view also covers the area of connectivity between different stakeholders in the
logistics chain, with the aim of optimising global logistics and having a positive impact on economic growth and the
environment. The company has therefore developed a set of activities, organised into major thematic clusters:
• Intelligent Infrastructure,
• Information and Communication Technology (ICT),
• Sustainable Port,
• Smart Operations,
• Single Point of Entry - SPC - SmartPort Community,
• Employees.
In 2023, the company has already launched a number of projects and activities to improve and digitise processes,
and to increase the competences of its employees. A modern data warehouse has been set up to provide a
comprehensive platform for operational reporting as a first step. Activities on decision-making models and digital
twins have been launched. Renovation of the warehouse management system for encrypted goods and testing of
forklift truck tracking equipment indoors has also started. A new mobile solution for unencrypted goods has been
introduced to improve warehousing processes at the general cargo Terminal. Much attention has been paid to
training employees to improve their digital competences through online training. Activities have started to set up a
simulator to operate various types of machinery in use using virtual reality technologies. Technological and process
optimisation continued across all port systems and the use of collaborative cloud solutions was expanded. Last but
not least, the development of a new platform for business partners has been outlined, which will allow the
development of additional functionalities in the area of web services, faster adaptation to the requirements of
business partners and general improvements in the area of B2B integrations in the logistics chain.
Digital transformation Annual report 2023 221
In 2023, the company also held two online training programmes for all employees on its internal Knowledge Room
platform:
• Importance of digital technologies and digital transformation for port processes,
• Impact of Industry 4.0 and Industry 5.0 on work processes.
222 Annual report 2023 Digital transformation
MANAGING GOVERNANCE IMPACTS OF SUSTAINABLE
DEVELOPMENT
ESG
Important reporting topics
Chapter
G – GOVERNANCE
ASPECT
Business compliance and prevention of
corruption
27.1 Corporate integrity and operations
compliance
Human rights, discrimination and diversity
27.2 Respect for human rights.
Restrictions on the expansion of the port area
Directly distributed economic value (payment of
duties, taxes, dividend payments, etc.)
25 Stability and business performance
Information Systems Security
28 Information Systems Security
Leadership continuity
4.3 Management system
Indirect economic value generated and
distributed
25.1 Indirect impacts of operations of Luka
Koper
Financial Instruments
25.2 Direct economic value generated and
distributed
STRATEGIC ORIENTATIONS OF LUKA KOPER BY GOVERNANCE ASPECT
A new 2024-2028 Strategic Business Plan was adopted at the end of 2023, setting out the governance objectives for
sustainable development.
STRATEGIC GUIDELINES - GOVERNANCE ASPECT
1. Human rights
o We will promote a sense of belonging, respect and dignity among our employees.
o We will ensure equal pay for work of equal value.
o We will raise awareness among employees of the importance of respecting human rights and
conduct due diligence.
o We will promote the peaceful settlement of disputes.
2. Diversity
o We will promote diversity of skills and experience and continue our policy of equal employment
opportunities regardless of gender or age.
o We will develop an inclusive culture.
o We will identify employee strengths and integrate them into business performance.
3. Discrimination
o We will ensure equal and fair treatment of all employees by promoting equal opportunities and
zero tolerance of bullying and harassment in the workplace.
4. Protection of personal data
o We will enforce rights related to the protection of personal data.
5. Compliance and Integrity
o We will conduct our business in accordance with applicable laws and codes of reference as well
as internal rules.
o We will deal promptly with reports of suspected irregularities or breaches of corporate integrity.
Digital transformation Annual report 2023 223
o We will monitor and report on the identified risks and actions under the Integrity Plan.
o We will update our internal rules and processes.
o We will perform an advisory function and training programmes.
6. Cyber security
o We will train all employees on the importance of information security.
o We will carry out regular security audits and implement state-of-the-art IT asset security
protections and mechanisms.
o We will record and report all incidents and take appropriate action.
224 Annual report 2023 Stability and business performance
25 Stability and business performance
126
Luka Koper, d. d., as a socially responsible company, creates the conditions and the environment to ensure
satisfaction of its customers, suppliers, employees, owners, as well as local and wider community, coexistence
with the natural environment, and realisation of broader development projects. It maintains a balance between
environmental and social aspects and economic requirements. The development strategy of Luka Koper is based
on environmental management, its underlying principle being to introduce measures that will not only meet legal
requirements, but also reduce adverse effects with the best available technology.
In 2023, the Luka Koper Group continued to implement activities to achieve the objectives set out in the 2020-2025
Strategic Business Plan. In 2023, the new 2024-2028 Strategic Business Plan was adopted, outlining a long-term
five-year development path for the Luka Koper Group. It sets out key strategic objectives, strategic orientations,
strategic and development projects. The Strategic Business Plan is reported in detail in Chapter 8 ‘Business
Development Strategy’.
Measures to manage impacts are taken and monitored as part of the risk and opportunity management system,
based on adopted policies, strategies, codes, regulations, rules of procedure, statements, guidelines and
legislation, financial audits, stakeholder initiatives, complaints mechanisms, complaint mechanisms, etc.
The company's successful operations and reputation are linked to the work of material and service suppliers
involved in the operation of the port system. Suppliers and procurement are reported in detail in Chapter 26
‘Sustainable relationship with suppliers’.
To achieve its goals, the company also requires suitable infrastructure, which it ensures with corresponding
investments and maintenance. Investments are reported in detail in Chapter 11 ‘Investments in non-financial
assets’. The Corporate governance policy defines the company’s principal management orientation, which is
reflected, inter alia, in achieving ambitious performance results, systematic improvement of the quality of work,
and setting targets in business plans. The Luka Koper Group has been implementing its strategy and objectives,
managing its employees and working on their development, devising and managing processes, taking measures
and controlling all the companies of the Luka Koper Group. The business objectives of the Luka Koper Group
companies are set out in the annual business plans in accordance with strategic orientations. The processes and
structures of individual Luka Koper Group companies are organized accordingly to achieve the set goals.
Achievement of targets and measurement of results are monitored by means of performance indicators, quarterly
reports and work programmes, annual interviews with employees, preparation and implementation of the
management review, as well as identification and management of risks and opportunities. Decisions are taken at
meetings of the Management Board on the basis of given and discussed proposals. The decision-making
responsibility is defined in the general acts of the Company and other internal regulations. The Company’s values
and its partnership corporate culture are built through communication, which is carried out regularly and
systematically through Management Board meetings, periodic coordination, weekly operational meetings, quality
team meetings and other forms of working meetings. Verification is carried out by superiors executing direct
verification, by means of reports on the completion of work, verification of work programmes carried out,
verification of Management Board decisions implemented, business reporting, internal and external examinations,
internal and external audit and managerial checks, work reports for projects, etc. In case of derogations detected
during verification and other forms of control, measures will be taken at the system level in accordance
Management Board decisions, risk measures and responsibilities.
The Luka Koper Group was among the first European ports to organise its entire operations in accordance with
international quality standards, which are reported in Chapter 25.4 ‘Quality System’.
126
GRI 3-3
Stability and business performance Annual report 2023 225
With its numerous direct and indirect effects, port operations
127
play an extremely important role in the
competitiveness of the wider economic area, creating added value in port operations and support port activities,
and contributing to the creation of jobs as well as services and goods in the regional and national economy. The
Luka Koper Group has significant direct and indirect effects on the Slovenian economy. Direct effects show in the
added value generated in port operations (logistic services, cargo handling, internal transport, storage) and support
port activities (pilotage, towage, victualling, maintenance of ships, berthing, vessel agents, the truck terminal,
survey/inspection companies).
Indirect effects are particularly visible in the added value of forwarding, transportation, construction, technical,
banking and insurance services and the services of public administration. The Luka Koper Group also gives
encouragement to the wider social environment through sponsorships, donations and membership fees, and by
paying compensation for the use of building land to the Municipality of Koper and the Municipality of Ankaran.
Socially responsible activities (sponsorships, donations, mitigation measures) are reported in more detail in
Chapter 22 ‘Social responsibility’. The municipalities also receive a part of the concession fee that Luka Koper, d.
d., pays to the grantor, i.e., the state. The passenger transport is also conducive to the development of the city, the
region and tourism.
The Luka Koper Group regularly pays salaries to employees, corporate tax, taxes and contributions from employee
benefits, purchases to suppliers, dividends to owners. Since 2019, Luka Koper, d. d., has been paying a
transhipment fee to the state for the construction of the second track.
25.1 Indirect impacts of operations of Luka Koper
128
The revenues arising from port operations represent about a quarter of the revenues of the economy in the Coast-
Karst region, and that in the region, the added value of port operations exceeded 17 percent. The port business is
also a major employer, providing as much as 15 percent of jobs in the region. The passenger transport of the Port
of Koper is also conducive to the development of the city, the region and tourism.
In 2020, Luka Koper, d. d., commissioned a study from the Chamber of Commerce and Industry of Slovenia on the
effects of port operations on the Slovenian economy in the years from 2009 to 2018. The results of the study are
shown in the figure below.
The impact of the port sector on the economy in Slovenia and the Coast-Karst region (data from the 2020 study by the
Chamber of Commerce and Industry of Slovenia)
127
Source: Study of the impact of port operations on the Slovenian economy from 2009 to 2018.
128
GRI 3-3, 203-2, 413-1
226 Annual report 2023 Stability and business performance
25.2 Direct economic value generated and distributed
129
Among significant impacts identified by Luka Koper and its stakeholders were employee salaries, dividends paid to
owners, payment of income tax, taxes and contributions on employee remuneration, payment of the concession
fee, payment of the fee for the use of building land, payment of the transhipment fee, and sponsorships and
donations, which are shown in the table below.
Direct economic value generated and distributed of Luka Koper, d. d., and the Luka Koper Group
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
Share in
2023
revenue
2022
Share in
2022
revenue
2023
Share in
2023
revenue
2022
Share in
2022
revenue
A
REVENUES
- from sales
309,284,223
310,196,680
312,772,489
313,462,636
- financing
7,572,819
6,349,703
8,171,649
5,601,753
- other revenue
4,040,758
2,338,538
6,068,506
4,265,615
Total A
320,897,800
318,884,921
327,012,644
323,330,004
B
OPERATING COSTS
Costs (excluding categories C, E, F
and depreciation)
72,499,871
23%
56,591,808
18%
66,404,205
20%
50,984,287
16%
Total B
72,499,871
23%
56,591,808
18%
66,404,205
20%
50,984,287
16%
C
LABOUR COSTS
Labour costs (excluding
employer's contributions from
employee remuneration)
89,188,765
28%
81,999,906
26%
96,390,760
29%
88,761,854
27%
Total C
89,188,765
28%
81,999,906
26%
96,390,760
29%
88,761,854
27%
D
PAYMENTS TO EQUITY HOLDERS
AND OTHER SUPPLIERS OF FUNDS
Dividends
35,000,000
11%
15,960,000
5%
35,000,000
11%
15,960,000
5%
- government (Republic of Slovenia,
SDH, KAD)
23,486,090
7%
10,709,657
3%
23,486,090
7%
10,709,657
3%
- other owners
11,513,910
4%
5,250,343
2%
11,513,910
4%
5,250,343
2%
Interest
1,422,134
0%
405,344
0%
1,421,902
0%
404,967
0%
Total D
36,422,134
11%
16,365,344
5%
36,421,902
11%
16,364,967
5%
E
INVESTMENTS IN THE SOCIAL
ENVIRONMENT
Sponsorships and donations
1,428,351
0%
1,170,259
0%
1,437,309
0%
1,175,358
0%
Total E
1,428,351
0%
1,170,259
0%
1,437,309
0%
1,175,358
0%
F
CONTRIBUTIONS TO THE STATE
Concession
10,650,012
3%
10,682,667
3%
10,650,012
3%
10,682,667
3%
Corporate income tax
10,672,466
3%
13,568,209
4%
10,929,687
3%
13,725,541
4%
Taxes and social contributions from
employee remuneration
12,529,356
4%
11,577,922
4%
13,485,424
4%
12,479,435
4%
Fee for the use of building land
6,826,341
2%
6,830,441
2%
6,826,341
2%
6,830,441
2%
Transhipment fee
130
5,595,511
2%
6,084,315
2%
5,595,511
2%
6,084,315
2%
129
GRI 201-1
130
Transhipment fee – special-purpose funds contributed by the Port of Koper to the construction of the Divača–Koper second
railway track.
Stability and business performance Annual report 2023 227
Total F
46,273,686
14%
48,743,554
15%
47,486,975
15%
49,802,399
15%
Retained economic value (A-B-C-
D-E-F)
75,084,994
23%
114,014,050
36%
78,871,494
24%
116,241,138
36%
25.3 Membership and initiatives
131
Luka Koper, d. d., and its employees are members of the following organisations:
• GZS – Chamber of Commerce and Industry of Slovenia: member of the
Chamber’s assembly, and of the administrative board of the Transport
Association,
• ESPO – European Sea Ports Organisation,
• Chamber of Agriculture and Forestry of Slovenia,
• Association of Employers of Slovenia,
• Institute of Internal Auditors,
• FEPORT – Federation of European Private Port Companies and
Terminals,
• NAPA – North Adriatic Ports Association,
• MedCruise – Mediterranean Cruise Port Association,
• MEDports – association of Mediterranean ports,
• IZS – Slovenian Chamber of Engineers,
• ZRSZV – Slovenian Chamber for Private Security,
• ICS – Institute of Corporate Security Studies,
• ZNS – Slovenian Directors’ Association,
• Slovenian-Croatian Friendship Association,
• Public Relations Society of Slovenia,
• Fire Fighting Association of Slovenia,
• Association of Safety Advisers for the Transport of Dangerous Goods,
• Association of Works Councils of Slovenia - SCID (Study Centre for
Industrial Democracy),
• ZPFS – Slovenian Corporate Treasurers Association,
• Bilans Tax Counselling,
• AmCham - American Chamber of Commerce,
• AXSMARINE,
• 6G Smart Networks and Services Industry Association IVZW (6G-IA),
• Slovenian-Japanese Business Council,
• Slovenian Business Club Belgrade,
• Slovenian Maintenance Society,
• Magyar Szállítmányozók Szötségege (MSZSZ) – Hungarian Freight
Forwarders Association,
• Svaz spedice a logistiky Češka – Forwarding and Logistics Association,
Czechia,
• Manager Association,
• SLO/SLO Association of Citizens and Companies
• Combinet – Network for combined transport, Austria.
Luka Koper, d. d. is a signatory of:
• Slovenian Corporate Integrity Guidelines.
• Fair business Declaration,
• Commitment to respect human rights in business operations.
Luka Koper INPO, d. o. o. is a member of the following organisations:
• Association of Employers of Slovenia,
• Alliance of Companies Employing Persons with Disabilities of Slovenia,
• EBA (European Boatmen's Association),
131
GRI 2-28
228 Annual report 2023 Stability and business performance
• IBLA (International Boatmen's Linesmen's Association),
• Fire Fighting Association of Slovenia,
• Association of Works Councils of Slovenia - SCID (Study Centre for
Industrial Democracy).
25.4 Quality system
132
The introduction of a management system based on ISO internationally recognized standards in Luka Koper results
from the decision to make systematic efforts to boost added value and customer satisfaction. The management
system is implemented in Luka Koper, d. d., Luka Koper INPO, d. o. o. and Adria Terminali, d. o. o., in accordance
with the definition in the Quality Management Rules of Procedure.
The unified management system combines requirements of different systems and other specific requirements:
• Quality management system compliant with ISO 9001;
• Environmental management system compliant with ISO 14001 and EMAS regulation;
• Safety and health at work management system compliant with ISO 45001;
• Food safety management system compliant with ISO 22000;
• Energy management compliant with ISO 50001;
• GMP+B3 standard, feed safety management system for transhipment and storage at the dry bulk
cargoes terminal;
• Non-GMO (Non-Genetically Modified Organism) requirements for the separate handling and storage of
non-GMO soybeans at the dry bulk terminal;
• Requirements of the ECO certificate for organically produced food and feed at the refrigerated cargoes
terminal, general cargoes terminal and dry bulk cargoes terminal;
• Requirements of the AEO certificate for the status of authorized economic operator carrying out customs
formalities;
• Requirements of the EU ISCC certificate for sustainable management of biofuels and biomass at the
liquid cargoes terminal;
• Requirements of the SEVESO Directive on the management of major-accident hazards involving
dangerous substances at the container terminal, liquid cargoes terminal and refrigerated cargoes
terminal;
• Requirements of the ISPS (International Ship and Port Facility Security Code);
• GRI (Global Reporting Initiative) sustainability reporting standards.
132
GRI 3-3
Sustainable relationship with suppliers Annual report 2023 229
Controlled systems are presented on the company's website Quality – Luka Koper, d. d. (luka-kp.si/en). In 2023, the
unified management system of Luka Koper was again verified and certified by a professional and independent
institution.
The Luka Koper Group strives for continuous process management and improvement based on the P-D-C-A (Plan,
Do, Check, Act) or the Deming cycle. The Group continuously improves its business processes as part of its business
process management. Improvement actions are introduced based on perceived opportunities or weaknesses in a
particular process or management system. Implementation steps are tracked in an IT-based management system,
with a final step, before completion, to check the effectiveness of their implementation. The implementation of
improvement measures and the verification of effectiveness are also addressed in internal audits and the
preparation and conduct of management reviews and reported to management.
26 Sustainable relationship with suppliers
26.1 Building relationships with suppliers
133
The Luka Koper Group aims for an optimal number of suppliers in terms of procurement manageability as well as
sufficient dispersion of suppliers to provide timely and appropriate purchases. The centralisation of procurement
decisions has been subject to pre-determined responsibilities and powers of all the employees involved in the
procurement process. While orders are issued and controlled centrally, procurement processes (goods collection,
complaints, etc.) may also be carried out by decentralised organisational units of the company, which allows for a
higher level of flexibility to meet the specific needs of individual organisational units. The company strives for well-
organised, transparent business co-operation with suppliers, while maintaining an efficient, flexible procurement
process that enables Luka Koper a smooth and efficient work process.
The Luka Koper Group pays great attention to developing relationships with suppliers in order to secure the
necessary purchases in a timely manner, which are also appropriate in terms of quality and cost. This enables the
transfer of good practices, enhances innovation, and creates added value for the users of port services, thus
creating conditions for financial savings and more efficient port services. Common ground and mutual interests
have to be found with the supplier, and the right balance achieved between the needs and expectations of the
customer on the one hand, and benefits of the supplier on the other.
In accordance with the adopted procurement policy, which is the foundation of relations with suppliers and is based
on respect for the company's core values, i.e. cooperation, responsibility, respect, affinity, and creativity, the
company wants to achieve the key objectives – satisfaction of its customers, employees and owners – and ensure
social responsibility to the environment. To some extent, the performance and reputation of Luka Koper depend on
the performance of suppliers, therefore the company respects and appreciates their efforts in helping it achieve
the key objectives. Efficiency, expertise, an ethical approach and integrity, social responsibility, environmental
protection, and health and safety are the six principles of the procurement policy the Luka Koper Group wishes to
pursue. The Procurement Policy of Luka Koper, d. d., serves as a guide for all employees and all suppliers. In the
context of public procurement, Luka Koper, d. d., is committed to complying with the Decree on green public
procurement, which further contributes to compliance with sustainable development guidelines.
Suppliers provide vital support to the operations of the Luka Koper Group. Good-quality suppliers contribute to
higher efficiency of business processes in the Company, either directly by providing services or supplying products,
or indirectly by increasing the efficiency and performance of work processes and business practices of the
Company. Luka Koper strives to work with the best suppliers available. Strong partnerships have been built with a
number of suppliers, who are also embracing the Company’s sustainability policy. Cooperation with new suppliers
is based on a desire to transform it into a long-term partnership.
Suppliers are categorised by the Luka Koper Group into four groups: suppliers for investments, suppliers for
technical services for own needs, suppliers for products (various materials), and external contractors
(transhipment, movement, freight transport and warehouse cleaning) and agencies (selection of employers to
provide employee work for the needs of the Luka Koper Group).
133
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230 Annual report 2023 Sustainable relationship with suppliers
External contractors and recruitment agencies for individual services are selected in an open competition process.
Framework agreements have been signed with four recruitment agencies, on the basis of which workers are posted
to work in the port.
Long-term partnership relationships with suppliers contribute to the process of finding common solutions for
higher quality of procurement process management. Luka Koper, d. d., maintains regular communication with
potential new suppliers, who can get listed in the online database at https://luka-kp.si/slo/za-dobavitelje. Based on
communication with suppliers and the submitted bids, certificates, qualifications and evidence of experience, the
company strives to select the best suppliers to collaborate with.
Achievement of objectives in the process of building relationships with suppliers is monitored quarterly by means
of pre-determined indicators. Based on the findings of the analyses looking into the progress towards achieving
the procurement objectives and into the relationship with suppliers, the company regularly introduces
improvements.
In order to take timely action and manage the risks of poor procurement practices, the strengths and weaknesses
of suppliers are monitored through evaluating and rewarding suppliers.
26.2 Supply chain
134
The selection of and collaboration with suppliers is a transparent pre-defined process. Preference is given to
suppliers whose operation is in line with international management standards, who meet the requirements for
occupational safety, show a high level of environmental awareness, and work with the Company and the Group in
the spirit of principles and values shared by Luka Koper. Before being included in the list of suppliers, the credit
rating of an individual supplier is always checked. In the event of any established tax debt or poor credit rating, the
supplier is not invited to submit a bid. The criteria for the selection of suppliers also include commitment to social
responsibility; therefore, when possible, preference is given to purchases that contribute to the economic
development of the local environment. Here, the domestic market of the Republic of Slovenia represents the local
environment, while the Koper and Ankaran municipalities represent the local community where the port operations
are actually carried out. Almost 90 percent of the Company’s suppliers are from the local environment, i.e.
companies based in Slovenia.
In 2023, the value of the total purchases of Luka Koper, d. d., excluding VAT, amounted to just over EUR 131 million.
Purchases made in the Slovenian market accounted for 96 percent of the total value of purchases. No changes
were made to the supply chain in 2023.
26.2.1 Share of total value of purchases of Luka Koper, d. d., in 2023 by country
135
134
GRI 2-6, 3-3
135
GRI 204-1
Sustainable relationship with suppliers Annual report 2023 231
26.2.2 Share of total value of purchases by Luka Koper, d. d. in the Slovenian market in
2023 by statistical region
136
26.2.3 Assessing supplier awareness
137
Luka Koper has adopted the Code of Conduct for Business Partners of the Luka Koper Group, which all suppliers
familiarise themselves with and sign. By signing, business partners agree to comply with the standards set out in
the Code. The business relationship between a business partner and Luka Koper is based on the business partner's
operations being aligned with the requirements of international business standards, including ethical conduct,
compliance with legislation, respect for human rights, environmental awareness and safety at work, confidentiality,
etc. The Code of Conduct for Business Partners is published on the website Corporate Documents - Luka Koper d.
d. (luka-kp.si).. All suppliers sign and undertake to comply with the Code of Conduct for Business Partners. In our
day-to-day contact with the suppliers assessed, we have not identified any suppliers with significant actual or
potential negative social impacts.
Luka Koper, d. d. regularly monitors and evaluates the cooperation with suppliers for the entire Luka Koper Group,
in accordance with the internal regulation Supplier Management, which governs the management of supplier
relationships. Under this regulation, the company normally carries out an evaluation of suppliers once a year. The
assessment for 2023 is still under way for a total of 40 suppliers. They are assessed based on pre-determined
criteria, One of the criteria for assessing suppliers comprises assessment of the environmental awareness and
compliance with the environmental requirements of each supplier and the possible use of an environmental
management system and an environmental and occupational health and safety criterion, which assesses breaches
in the field of occupational health and safety and the environment. In 2023, 32 percent of the suppliers assessed
were found to have in the field of the environment and occupational health. We identified no significant additional
actual or potential negative environmental impacts in the supply chain in 2023. We are in regular contact with all
suppliers and have taken appropriate action or agreed remedial action for those where minor breaches have been
identified. We have not terminated our relationship with any of our current suppliers in 2023 as a result of the
identified breaches.
Suppliers are assessed in four separate categories: the category of suppliers for investments, the category of
suppliers for technical services, the category of suppliers for products, and the category of suppliers for external
contractors and recruitment agencies. Each year, the Company selects the best supplier in each category, and the
winners are given recognition.
136
GRI 204-1
137
GRI 3-3, 308-2, 414-2
232 Annual report 2023 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human
Rights
138
Luka Koper, d. d. and the other companies of the Luka Koper Group strive to respect and strengthen corporate
culture, integrity and compliance in their business operations. With such an approach, they ensure for their
operations to be compliant with legislation, good business practices and ethical principles.
The aim of companies of the Luka Koper Group is long-term successful performance, which refers to long-term
development, and includes commitment to sustainable development, i.e. a socially responsible attitude toward the
social community and natural environment. This commitment is ingrained in our values and corporate culture. In
doing so, the Luka Koper Group is aware that its long-term success and reputation are also determined by its
corporate integrity, which is established based on the compliance of its operations with the legislation, business
practices and ethical principles, the Code of ethics of the Luka Koper Group companies (hereinafter ‘Code of Ethics’)
and other codes of professional ethics that its employees adhere to.
On 14 October 2014, Luka Koper, d. d. signed the Slovenian Corporate Integrity Guidelines and thus became an
ambassador of the Guidelines, thereby committing itself together with other major companies in Slovenia to
systematically regulate this area. Seeking to create the conditions for a highly ethical and responsible business
conduct, protecting the interests of all stakeholders and minimising risks that might arise due to non-compliant
conduct of employees, contracting partners or third parties, Luka Koper, d. d., has established the professional
position Corporate Integrity and Operations Compliance Officer. A Corporate Integrity and Operations Compliance,
Protection of Personal Data and Human Rights Officer (hereinafter: ‘Corporate Integrity and Operations Compliance
Officer’) has been appointed, who is independent and reports directly to the company's Management and
Supervisory Board and has reporting powers to external supervisory bodies.
The fundamental acts of the Company and the Luka Koper Group in the area of corporate integrity are the Code of
Ethics (adopted on 1 October 2019) and the Corruption Prevention Policy (adopted on 24 August 2023). The Code of
Ethics, which was approved by the Management Board and Supervisory Board of Luka Koper, d. d., regulates the
ethical principles or rules of conduct of the Luka Koper Group employees towards their colleagues and in business
relations with other participants in the business environment, confidentiality of information, conflicts of interest,
the receipt of gifts, and the reporting of breaches of the principles of ethical conduct and other irregularities in the
companies. The Corruption Prevention Policy was also adopted and approved by the Supervisory Board, which
complements the Code of Ethics and stipulates that compliance with the principles and rules regarding the
prevention of corruption through compliance with laws and regulations is the responsibility of all individuals
working for or on behalf of Luka Koper, d. d., or the Group, agencies, external consultants and other stakeholders
related to the Company, and that the Group follows the principle of zero tolerance towards illegal and unethical
and/or corrupt acts. This is expected of all individuals and organisations with whom we come into contact through
our work, and includes customers, suppliers, consultants, associations, local authorities, government bodies and
political parties.
The Code and Policy are available in electronic format on the Luka Koper, d. d., online portal to all employees, and
on the Luka Koper, d. d., website to business partners and other interested parties. All new employees receive a
printed copy of the Code and Policy upon being recruited and commit to respecting them by means of a statement.
All employees, and particularly the executives, are expected to display a high level of professionalism and integrity
in relation to other employees and also to customers, owners, the media, suppliers, public authorities and other
partners. With their example, responsibility for results, the ability to transfer the goals of the organization into the
138
GRI 2-12, 2-13, 2-15, 2-23, 2-24, 2-25, 2-26, 2-27, 3-3
Corporate Integrity and Compliance, Protection of Personal Data and Human Rights Annual report 2023 233
goals of individuals, providing regular feedback on the performance of work to employees, managers guide
employees in their development in the direction of achieving the company's shared goals and a higher ethical
corporate culture.
In September 2019, the Management Board of Luka Koper, d. d. adopted the Corporate Integrity Strategy of Luka
Koper, d. d, and the Luka Koper Group until 2025, which, in order to achieve the objective of building a system of
ethical values and their internalisation with the knowledge that they are beneficial to all employees and Group
companies, provides for the regulation of the management of conflicts of interest, the whistleblower system,
prevention of money laundering, the treatment and misuse of inside information and the investigation of fraud, the
implementation of the ISO 37001:Management Systems for the Prevention of Corruption standard, and the
promotion of an appropriate culture. At the end of 2023, the new 2024-2028 Strategic Business Plan was adopted.
The Corporate Integrity and Operations Compliance Officer prepares an annual work plan, which includes the
handling of reports, compliance reviews, a training plan as well as other activities related to the area of activity and
is subject to approval by the Management Board and familiarisation by the Audit Committee of the Supervisory
Board and the Supervisory Board. The Officer informs the Management Board, the Audit Committee of the
Supervisory Board and, on an annual basis, the Supervisory Board of Luka Koper, d. d. about his/her work through
quarterly reports.
In 2023, Luka Koper established an updated secure channel for internal or external reporting of irregularities, while
it keeps supporting any expression of suspicion, in good faith or on the basis of reasonable belief and ensuring that
a whistleblower is protected from any punishment or retaliatory measures. Each natural or legal person may
address to the Corporate Integrity and Operations Compliance, Protection of Personal Data and Human Rights
Officer a report of corporate integrity violations for which the Officer is responsible. The Officer and the Committee
shall process all the reports and notifications, even if submitted anonymously. A report of a breach of corporate
integrity may be made through the secure channel available on the website of the company Make a report - Luka
Koper, d. d. (luka-kp.si), or directly to the Officer, or to the following address "Integriteta@luka-kp.si. The Officer
and the Committee have to protect the identity of bona-fide whistleblowers and handle their data confidentially. In
the event of illicit retaliatory measures against the whistleblower, appropriate procedures may be instituted against
employees who carried out the illicit retaliation in accordance with the work code in force, of which the company
management has to be informed. In case of an anonymous report, the identity of the bona-fide whistleblower should
not be established. Each received report is recorded in the register of reported violations. Reports on reported
violations are discussed regularly by the Audit Committee of the Supervisory Board, and also by the Supervisory
Board once a year.
In 2023, the Rules of Procedure of the Corporate Integrity Officer and the Committee for Corporate Integrity
Violations and the Handling of Reports in the Luka Koper Group were also updated, defining the appointment of the
Corporate Integrity Officer and the Committees, their duties, powers and responsibilities, confidentiality protection,
management of conflicts of interest, procedures for handling violations, as well as record and material
management, monitoring and reporting, decision-making on business cooperation with customers and suppliers,
the handling and misuse of inside information, training and consultancy procedures. Suspected breaches of
corporate integrity are dealt with by the Corporate Integrity and Operations Compliance Officer and a three-
member committee. The members of the committee are appointed by the management at the proposal of the
Officer. The Officer and the members shall act independently, in accordance with the principles of due diligence,
confidentiality and applicable professional codes and established principles, criteria and ethical standards, and in
the best interests of the company. In the examination of a case, the Officer and the members of the committee shall
obtain and verify all relevant facts and circumstances in order to establish the correct factual situation, to clarify
the suspected infringement in a comprehensive manner and to enable a proper assessment of the event or conduct
to be made. Care is also taken to ensure that the case is concluded within a reasonable time. If the suspicion is
well-founded, the committee will issue a decision and/or propose the necessary measures to remedy the
infringement or to prevent the occurrence of harmful consequences, or recommendations or guidelines for the
elimination of identified irregularities. It can make suggestions for improvement or further action against the
responsible persons or offenders. If it is established that there are grounds for suspecting the commission of an
offence for which the offender is being prosecuted ex officio, the Officer may refer the complaint, or part of it, to
another competent authority. The Officer and the Committee have to protect the identity of the whistleblower and
handle their data confidentially. In the event of illicit retaliatory measures against the whistleblower, appropriate
procedures may be instituted against employees who carried out the illicit retaliation in accordance with the work
code in force.
In 2023, the Corporate Integrity and Operations Compliance Officer dealt with thirteen reports of alleged breaches
of corporate integrity and compliance submitted by external and internal actors. Of the thirteen reports, all of which
were anonymous, seven were substantiated, none of which concerned suspected corruption. Three complaints
concerned alleged discriminatory treatment at work and were unfounded. Following a review of both the
234 Annual report 2023 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights
applications and the internal processes, the Officer made seven recommendations, which were implemented in
2023.
The Luka Koper Group seeks to protect its property against fraud and corrupt practices by having a relevant internal
control system. Employees in higher-risk positions are required to sign declarations on related parties, protection
of inside information and avoidance of conflicts of interest, which they are also required to implement in practice.
In 2023, the Corporate Integrity and Operations Compliance Officer ensured that these declarations were collected
and recorded.
The Luka Koper Group has a Policy on Acceptance of Gifts in Group Companies, which defines limit values of gifts
and hospitality and is available to all employees on the Luka Koper portal. As gifts and hospitality may create the
appearance of an attempt to influence the objective and impartial performance of the work of Luka Koper
employees or representatives of third parties, the circumstances in which gifts and hospitality are accepted and
given must be handled with the utmost care and in accordance with the applicable legislation and the internal
regulations of Luka Koper. Gifts or hospitality may be given, offered or accepted if they are reasonable and
appropriate and where there is no risk of creating the impression that the recipient's decision has been unduly
influenced. Gifts should be symbolic or of small value, and entertainment should not be inappropriate or exceed
reasonable costs. Spending on lavish or inappropriate gifts or entertainment (hospitality) can be defined as
corruption and is therefore prohibited. Regardless of value, no staff member may accept or offer gifts of money,
securities, gift and value vouchers, cards or precious metals. Luka Koper, d. d., keeps a record of gifts received. In
case of uncertainty about accepting or offering a gift or hospitality, the employee should consult the Corporate
Integrity and Operations Compliance Officer.
In 2023, Luka Koper, d. d., adopted a communication plan on corporate integrity with internal and external
stakeholders. The plan contains communication principles, content, frequency, target groups, methods, and the
persons responsible. The communication plan will be updated annually to ensure that all relevant content and
stakeholders are included.
Following the implementation of the Code of Conduct for Business Partners of the Luka Koper Group, in 2023, the
system of financial controls for verifying suppliers and customers was supplemented by a detailed review of their
financial situation and non-financial controls, ownership structure, beneficial owners and their reputation. The
business partner shall sign a declaration of conduct in accordance with the Code of Conduct for Business Partners
of the Luka Koper Group, which shall oblige them to act in this manner in relation to the companies of the Luka
Koper Group. Business partners that do not have due diligence measures in place in their processes and where
feasible are required to implement these measures, otherwise Luka Koper d. d. may consider the risk to be
unacceptable and terminate the cooperation. Business partners acting on behalf of or for the benefit of Luka Koper
shall be informed of this prior to entering into or extending the contractual relationship and shall be warned of the
nullity of the contract in the event of bribery. All contracts include an anti-corruption clause.
27.1 Compliance with laws and regulations
139
The internal regulations on compliance address all fields of activity, i.e., operations, sales of services, relationships
with suppliers, shareholders, finance, accounting, security, ecology, safety at work, protection of personal data,
business secrets, etc. Regarding compliance, Luka Koper, d. d., has been implementing preventive checks to
ensure the compliance of operations, and ensuring a systematic procedure of recording, solving and analysing all
types of non-compliance with the aim of introducing suitable improvement measures, which results in constant
improvement of the quality of operations. Internal audits shall verify that the performance of activities and the
related results comply with the regulatory and management system requirements. The effectiveness of the
business process is reviewed to identify opportunities to improve the system and eliminate any non-compliance.
Non-compliance management is ensured by identifying and documenting non-compliance, addressing and
correcting it, analysing the causes of non-compliance, identifying the necessary improvement actions to prevent
recurring non-compliance, and understanding and clearly allocating responsibilities. Corrective action identifies
and analyses the actual causes of deviations, while preventive action aims to eliminate the causes of potential non-
compliance.
In the area of operations compliance, seven audits were carried out in 2023. In line with the work plan, compliance
audits were carried out in the areas of contracting and performance, payment recovery, protection of personal data,
handling of public information and procurement, management of business secrets and inside information,
management of conflicts of interest, whistleblowing and safeguards in key processes to manage and prevent
139
GRI 2-27
Corporate Integrity and Compliance, Protection of Personal Data and Human Rights Annual report 2023 235
corruption. Several recommendations were issued. All recommendations, except for one due in 2024, have been
implemented.
In the period from 1 January 2023 to 31 December 2023, 19 inspections or controls were carried out in Luka Koper,
d. d.: 9 procedures are still ongoing, 10 procedures have been discontinued as irregularities have been corrected
or none have been detected. In the same period, 24 inspections or controls were carried out in the Luka Koper
Group, of which 12 were still pending and 12 were discontinued as at 31 December 2023. The inspection procedures
did not reveal any significant deviations or breaches. Where deficiencies were identified, they were eliminated
during the duration of the procedure, one subsidiary was fined EUR 30 for the offence identified, and no other more
severe or restrictive measures were imposed that would have any impact on business processes. The inspections
were mainly carried out by the Labour Inspectorate and the Environment and Energy Inspectorate.
27.2 Prevention of corruption
140
The Luka Koper Group is strengthening the process of promoting ethical values and internalizing them and ensures
the management of risks the consequent reduction of operating losses. The Group pursues professionalism, loyalty
and integrity in relation to its employees, customers, owners, media, suppliers, state and local authorities and other
stakeholders, and concludes business relations transparently, respecting competitiveness and good business
practices and with zero tolerance for corrupt or ethically questionable practices or unfair business practices. With
the principles and rules of business ethics thus set, the Luka Koper Group seeks to establish the conditions in
which its suppliers, customers, as well as their employees and contractors, and other stakeholders will be working
in the spirit of the ethical rules of conduct.
In 2023, Luka Koper established a management system for the prevention of corruption that meets the
requirements of ISO 37001:2016 Management Systems for the Prevention of Corruption. In January 2024, the
company successfully passed the certification audit. The Rules of Procedure of the Luka Koper d. d. Management
System Concerning the Prevention of Corruption were adopted, defining all the key building blocks of the system:
the context of organisation, leadership and commitment, roles, responsibilities and authorities, planning, support,
implementation, and process management and improvement. In planning and designing activities to establish and
maintain a management system for the prevention of corruption, the company analyses and takes into account the
context of the organisation, the needs and expectations of identified stakeholders and assesses the corruption risk
at the organisational level on a regular basis, whenever there is a change in the assessment, and at least once a
year. At the same time, it introduces measures to reduce the identified risks and determines the methods of their
implementation. In 2023, Luka Koper, d. d. carried out an assessment of corruption risks in individual processes in
accordance with the uniform methodology at the Group level, as presented in Chapter 14 ‘Risk and Opportunity
Management’. The company estimates that it has listed all corruption risks relevant to the company. According to
the inherent risk assessment prior to the measures taken, the highest rated risks were those related to the
procurement of materials, goods and services and capital investments, and the related assessment of needs
regarding procurement (key corruption risks related to the deliberate procurement of unnecessary materials,
goods or services, possible procurement of surplus quantities, the use of unreasonably narrow technical
specifications, failure to manage conflicts of interest and protect confidential information), sales (key corruption
risks related to the possible setting of unusual commercial terms, unequal treatment in the provision of services
and the possible write-off of receivables or issuance of credits) and recruitment (risk of awarding good employment
positions and recruitment on the basis of personal, business or other inappropriate contacts for favours outside
the company). Luka Koper, d. d., has listed internal controls for all identified risks. Activities for continuous
improvement of the system will be carried out on the basis of periodic performance measurement reviews. A job
risk assessment was carried out, identifying as the most at risk employees related to the sales and procurement
process and, indirectly, all the most important functions that make procurement and recruitment requests.
Following a job risk analysis, persons in positions with a higher corruption risk rating are required to complete a
declaration on the management of conflicts of interest, specifying the entities with which they are associated. The
statement on the management of conflicts of interest is also signed annually by the members of the Supervisory
Board, the Management Board and other senior employees (b-1) and forwarded to the Corporate Integrity and
Operations Compliance Officer, who maintains the list. In the event of a potential conflict of interest, the person is
obliged to inform his/her supervisor and the Officer, who shall take appropriate measures in accordance with the
Conflicts of Interest Management Policy.
Luka Koper, d. d., manages the risk of sponsorship and donation funds being used as a means of bribery by having
a Sponsorship and Donation Strategy approved by the Management Board and communicated to the Supervisory
Board. The Strategy defines how applications will be processed, the appointment and functioning of the Committee,
the criteria for the award of funds and the demonstration of compliance by the recipients of sponsorship funds. As
140
GRI 205-1, 205-2, 205-3, 3-3
236 Annual report 2023 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights
part of the preparation of the business plan, a budget shall be established for sponsorships and donations, which
shall not exceed 0.8 percent of net sales revenue. Once a year, the company launches the "Living with the Port" call
for proposals, which is aimed mainly at one-off or one-year projects, primarily from the local environment. The call
is governed by the Terms and Conditions and the criteria for the funding of projects under Luka Koper’s
sponsorship/donation call, which are publicly available on the sustainability portal www.zivetispristaniscem.si.
Interested parties can send their proposals outside the call for proposals using the electronic form published on
the company's website. In the case of sports associations and federations, the amount of the sponsorship is
determined on the basis of pre-defined criteria. Any donation or sponsorship must be approved by the Company's
Management Board and be subject to the conclusion of a contract. To measure the success of the sponsorship and
donations management process, indicators with targets are set and regularly monitored.
The Corporate Integrity and Operations Compliance Officer oversees the implementation of the corruption risk
management system, provides support to employees on issues related to corruption risks and corruption
prevention activities. The responsibility to manage corruption risks is the responsibility of all individuals working
for Luka Koper d. d. or the Group. The expected behaviour set out in the Anti-Corruption Policy is also expected of
all individuals, companies or organisations with whom we come into contact in the course of our work, including
customers, suppliers, consultants, associations, representatives of local communities, government bodies,
political parties and other stakeholders.
The good practice of providing each new employee with a Code of Ethics and a practical guide to ethical conduct,
which also identifies the risks of corruption, continues at the time of recruitment. All are introduced to the
principles of port security, which cover integrity and corruption (how to behave in the workplace, ethical conduct,
protection of business secrets, etc.). In 2023, all new employees were made aware of this, and in particular,
employees who were recognised as performing work in positions with higher risks in this regard took part in
training on corruption and integrity risks. Recruitment or promotion to these positions is subject to additional due
diligence following an assessment of the position's risk of corruption. Awareness-raising and training of employees
on corruption risks is carried out according to a programme prepared and updated at least once a year, or in the
event of major changes, by the relevant Human Resources department in cooperation with the Corporate Integrity
and Operations Compliance Officer. The training programme is adapted to the level of exposure of the workplace
to corruption risks and provides for a training frequency of at least once a year. The targeted training programme
develops employee competences to identify risks early and apply safeguards to prevent corruption acts. Employees
are encouraged to contribute to the effectiveness of the management system for the prevention of corruption by
suggesting improvements. If an employee is offered or asked to pay a bribe by anyone, or if there is any suspicion
of bribery, corruption or a breach of policy, the employee has a duty to report it to their supervisor and the Corporate
Integrity and Operations Compliance Officer.
In 2023, the Luka Koper Group again organised training programmes in the field of corporate integrity, human
rights, compliance and personal data protection:
o ISO 37001:2016 Management systems for the prevention of corruption: 78 participants
o Potential conflict of interest: 86 participants
o Training of new employees on the principles of the Code of Ethics: 159 participants
Number and percentage of employees who took part in anti-corruption training, by region and job category
31 Dec 2023
Region of residence
Job category
Number of
employees who
took part in the
training (of all
employees)
Share of
all
employees
in %
Number of
employees who took
part in the training
(of all employees), by
region
Number
Share of
all
employees
in %
Number of
employees who
took part in the
training (of all
employees) by job
category
Number
Share of all
employees
in %
323
18.4
Coast-Karst Region
298
17.0
Management
(Management
Board. b-1)
19
1.1
Central Slovenia
8
0.5
Other management
74
4.2
Primorska and
Notranjska Region
14
0.8
Highly skilled
106
6.0
Other
3
0.2
Operators
124
7.1
Corporate Integrity and Compliance, Protection of Personal Data and Human Rights Annual report 2023 237
Number and share of members of management bodies who took part in anti-corruption training, by region
Region of residence
Number
Share in % of all members
of management bodies
Coast-Karst Region
5
45
Central Slovenia
4
36
Savinjska region
1
9
Posavska Region
1
9
Total
11
100
In 2023, there were no confirmed cases of corruption in the Luka Koper Group.
Employees attended the following external training programmes:
o Risk focus: 1 participant
o Risk management: 2 participants
o Training for a representative under the ZZPri (Whistleblowers Protection Act): 1 participant
o Cyber Reality: 1 participant
o Confidential information: 1 participant
o GDPR and Personal Data Protection Act: 1 participant
o Amendments to ZDR-1: 12 participants
o Conducting internal ethics audits in an organisation: 1 participant
o Video surveillance: 1 participant
27.3 Respect for human rights
141
One impact was identified and assessed in terms of impact on stakeholders in the context of corporate integrity
and compliance.
27.3.1 Diversity Policy
142
The Diversity Policy of the Management Board and Supervisory Board, amended in 2021, ensures diversity in the
management bodies by setting out the target diversity to be pursued in terms of representation on the Supervisory
Board and Management Board of the company in terms of gender, age, education and other personal
circumstances of the members, as appropriate for the company, published on the website Corporate Documents -
Luka Koper d. d. (luka-kp.si).
With the Diversity Policy of the Management Board and the Supervisory Board, the Company has set the framework
for the composition of the two bodies to include appropriate representation of both genders (female and male) and
varying age groups with a diverse range of relevant knowledge, skills and experience, which, given optimum
management and risk control and management, ensures the long-term success of the Company in meeting its
objectives and implementing its strategy (the diversity of the members of the Management Board by gender and
age is reported in Chapter 4.6.2 ‘Presentation of members of the Management Board of Luka Koper, d. d. as at 1
January 2024’, and on the gender and age diversity of the Supervisory Board in Chapter 4.5.1 ‘Composition of the
Supervisory Board’).
141
GRI 2-23, 2-25, 2-26, 3-3, 406-1
142
GRI 3-3
238 Annual report 2023 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights
Based on identifying key personnel and successors, the company has prepared a range of candidates whose career
objectives include the membership of the Management Board. This is a range of candidates/employees with various
knowledge and experience, of different genders and ages; however, the process of selecting members of the
Management Board is not within the competence of Luka Koper, d. d., but the Supervisory Board. The
implementation of the policy is monitored by the HR Committee of the Supervisory Board, which in turn reports to
the Supervisory Board.
The principles of diversity and equal opportunities for employees are intertwined with respect for human rights.
The gender and age diversity of the workforce is reported in Chapter 21.1 ‘Employee management and training
system’.
27.3.2 Human rights
143
Since 2019, Luka Koper, d. d. has been a signatory to the Commitment to Respect Human Rights. The company is
active within the working group of the Government of the Republic of Slovenia for the implementation of the National
Action Plan on Business and Human Rights (NAN)
144
. With this commitment, the company also follows the
recommendations and expectations of SSH, which expects companies with state-owned assets to implement the
relevant principles of the National Action Plan of the Republic of Slovenia on Business and Human Rights and to
set an example to other companies in terms of respect for human rights.
In 2022, the Luka Koper Group adopted an action plan for the implementation of the Commitment to Respect Human
Rights in Business, which includes both one-off and continuous measures or activities.
One-off measures include the systematisation of a post of Corporate Integrity, Compliance, Data Protection and
Human Rights Officer in 2022, followed by the appointment of the Officer by the Management Board and
confirmation by the Supervisory Board in 2023.
Another one-off measure is the establishment of a complaints mechanism for reporting human rights violations.
Any natural or legal person may submit an application directly to the Officer or on the company's website
https://www.luka-kp.si/slo/prijava-nepravilnosti. The Officer and the Committee shall process all the reports and
notifications, even if submitted anonymously.
The existing Dignity at Work Policy is in the final stages of revision and has been transformed into the Regulations
on the Prevention of Harassment and Ill-treatment in the Workplace.
Continuous actions in each area include:
• Respect for human rights in company policies
Respect for human rights is an integral part of Luka Koper policies, enshrined in the company's values
(responsibility, cooperation, respect, affiliation, creativity), the Code of Ethics, and various regulations (Dignity at
Work Policy, Policy on Ensuring Health and Safety in the Port of Koper, Regulations on the Provision and Protection
of Personal Data, Rules on acceptance of gifts, and the Practical Guide to Ethical Conduct). All employees have
access to documents on the intranet.
• Preventing ill-treatment at work, ensuring equal opportunities for employees and preventing
discrimination
The principle of gender equality is included in the diversity policy of the company's Management Board and
Supervisory Board. Diversity and equal opportunities are also defined in the internal documents of the management
system. The principle of non-discrimination and equal treatment of all candidates in selection and recruitment
procedures shall be strictly observed when announcing vacancies. Equal treatment of employees in career
development and remuneration procedures is guaranteed. All employees have equal opportunities for vocational
and professional training and education. To prevent precarious work, in 2020 the company changed its business
model from a port operations providers model to a three-pillar business model: full-time employees, agency
workers and, to a lesser extent, external service contractors. Agency workers are guaranteed the same rights and
pay as regular employees. As a general rule, the company concludes employment contracts for an indefinite period
and only in exceptional cases for a fixed period. Employees enter into a full-time employment relationship or, only
in exceptional cases, part-time employment for the reason of ensuring parental care or health care rights.
143
GRI 2-16
144
Business and human rights | GOV.SI
Corporate Integrity and Compliance, Protection of Personal Data and Human Rights Annual report 2023 239
Despite the low proportion of women in the workforce, the proportion of women is high among professional and top
management staff (Management Board, level b-1) (the gender and age diversity of the workforce is reported in
Chapter 21.1 ‘Employee management and training system’). As part of the periodic measurement of organisational
climate, satisfaction and engagement, employees have the opportunity to rate statements in the areas of integrity
and diversity. This provides additional verification of possible unequal treatment of employees.
In 2023, one case of suspected harassment and ill-treatment at work was discussed based on formal complaint.
The report of alleged harassment was well-founded
• Employee training and awareness
Each employee and agency worker receives a copy of the company's Collective Agreement and Code of Ethics, signs
a declaration of adherence to the provisions of the Code of Ethics and becomes familiar with them. Four employees
completed the training and obtained the certificate to act as a confidant in cases of harassment. Staff members
acting as mentors and practical training instructors have pedagogical training. Peaceful settlement of disputes,
respectful communication and peaceful resolution of potential conflicts through dialogue are promoted.
• Ensuring health and safety at work and protecting the environment
The company is committed to environmental protection, nature conservation and sustainable resource
management (environmental measurements, reporting, maintenance of environmental management standards
(EMAS, ISO 14001) and occupational safety (ISO 45001), measurement of workplace microclimate (humidity, light,
noise, vibration, chemical substances)). Every employee is trained in safe working practices on recruitment and
periodically. The Decree on green public procurement is respected in the implementation of public procurement.
Renewables (solar power) are provided, and the circular economy is pursued for waste. Environmental noise levels,
as well as air and seawater quality are measured. A culture of prevention in the field of safety and health at work
is encouraged (with appropriate training for safe work, technological procedures, cleanliness of work surfaces,
inspections of work equipment, medical examinations, monitoring of psychosocial risk factors, investigations of
occupational accidents).
The protection of elderly and disabled workers is ensured by complying with the provisions of the legislation (in the
case of the elderly, overtime, night work, additional days of leave, careful management of the proceedings before
the Disability Commission, finding suitable employment in cases of disability according to the remaining working
capacity, or reassigning the worker to the disability company Luka Koper INPO, d. o. o.).
Employees are encouraged to exercise and eat healthily, a sports club is promoted, sports games are organised
annually in the port, a health promotion group is set up, whose activities are aimed at managing musculoskeletal
disorders, reducing metabolic problems, improving interpersonal relations and reducing harmful habits.
The Luka Koper Group respects the rights of employees to freedom of association, membership in trade unions
and the Works Council, and other forms of association. Communication is open and respectful, without any
misrepresentation of facts or misleading and unauthorised transfer of information at all levels and in all areas of
conduct in the Company, both in formal and informal communication. Work criticism is part of open communication
and should be directed at activities rather than persons.
The table below states the human rights that were recognised within the employee working group responsible for
implementing sustainable reporting under GRI standards as most relevant to all employees of Luka Koper, d. d.
For the human rights identified as material, rated 1, the last column of the table shows the KPI value in 2023.
240 Annual report 2023 Corporate Integrity and Compliance, Protection of Personal Data and Human Rights
Recognised human rights
Human rights
Employees
Importance
1-4
145
KPI
KPI value for 2023 for
materiality 1
FUNDAMENTAL RIGHTS AND FREEDOMS
The right to life
X
1
No of deaths
No fatalities in 2023.
Prohibition of forced labour
X
4
No of hours of work
/
Freedom of expression – in
connection with the right to
organised trade union movement;
smearing by the media
X
2
No of actions to mute someone
/
Inviolability of private life (data
protection)
X
1
No of cases of data misuse
(reported)
No reports of misuse of personal
data in 2023.
ECONOMIC, SOCIAL AND CULTURAL RIGHTS
Right to work
X
1
No of on-going actions for
unlawful dismissal
No final judgements of wrongful
dismissal in 2023.
4 final appeals for reintegration
(former port operation provider
workers) in 2023.
Right to education
X
4
Average No of hours of training
19,2
Right to dignity at work/harassment
X
1
No of reports
In 2023, one case of suspected
harassment and ill-treatment
at work was discussed based
on formal complaint. The
report of alleged harassment
was well-founded
Right to form trade unions, to
participate and strike
X
1
No of strikes, conventions
No of representative trade unions
Agreement with trade unions
No strikes in 2023, there was 1
rally.
The company has 2
representative trade unions.
4 agreements were concluded in
2023.
Right to equal pay for equal work
X
1
Salary levels for the same position
Reported in Chapter 21.1.11
‘Employee benefits’
Right to social security (payment of
contributions)
X
1
Payment of contribution
Reported in Chapter 21.1.11
‘Employee benefits’
Right to family life
X
2
No of overtime hours beyond the
regulatory limit
No such cases in 2023.
Right to health
X
1
Measures for the promotion of
health
No of injuries at work
No of medical examinations
Reported in Chapter 20 ‘Safe and
healthy port environment’
Right to non-discrimination
X
2
No of complaints due to
discriminatory treatment
3
Right to rest and leisure time
X
1
Use of annual leave
Pay for annual leave
71.1% use of annual leave (until
31 Dec 2023)
Reported in Chapter 21.1.11
‘Employee benefits’
HUMAN RIGHTS OF THIRD GENERATION
Right to a healthy living environment
X
1
Noise level
Concentration of dust particles
No of pollution incidents
Quality of drinking water
Reported in Chapter 19 ‘Long-
term sustainability of the natural
environment’.
145
1-very important, 4-not important
Information Systems Security Annual report 2023 241
27.3.3 Protection of personal data
In 2023, in Luka Koper, d. d., the Corporate Integrity and Operations Compliance Officer performed the role of Data
Protection Officer. The Officer with their relevant professional merit and expert knowledge of legislation and actual
experience in personal data protection or comparable areas, ensures in an independent manner that there are no
infringements in the processing of personal data. The protection of personal data is governed by the Regulation on
the Protection of Personal Data, which is published and available on the company's website. As part of an internal
audit on the appropriate handling of personal data and risk management in the use of video surveillance, the notice
on the implementation of video surveillance in the area of the Koper freight port and the related internal rules were
updated. In addition, nine assessments of the legality of the interest in maintaining personal data files were carried
out. In 2023, one case of alleged misuse of personal data was dealt with and dismissed.
28 Information Systems Security
Luka Koper, d. d., has an established system for the protection of information assets, which it continuously
improves in accordance with the professional guidelines of various information security frameworks, including the
ISO/IEC 27000 standard for information security management systems. Luka Koper, d. d., is liable under the
Information Security Act (ZInfV). In accordance with legislation, the Company maintains a documented information
security management system and a business continuity management system. The Security Policy of Luka Koper, d.
d. is the starting point for ensuring and implementing all aspects of the company's security, including the
information security segment.
Appropriate strategies and policies are key to ensuring the security of IT systems, protecting sensitive data and
maintaining the trust of customers and business partners. In 2023, as part of the preparation of the new 2024-2028
Strategic Business Plan, Luka Koper d. d. also developed a digitisation strategy, which aims to implement a digital
transformation in key processes through the use of new technologies towards the smart port concept. To achieve
this, the company has identified 6 key segments, including Information and Communication Technology (ICT), which
includes key cyber resilience projects. Strategic orientations for information systems security are:
• Training programmes for all employees on the importance of information security;
• Regular security audits and the introduction of state-of-the-art IT security safeguards and mechanisms;
• Recording, reporting and taking appropriate action on all incidents.
Understanding the importance of information security and managing risks in the field of information and
communication technology by implementing measures to protect information systems and ensure business
continuity are key to achieving the company's strategic objectives and business performance.
Information security risks are identified within the framework of the Luka Koper Group's Risk and Opportunity
Management System and are kept in a central register, and a member of the Risk and Opportunity Management
Committee is also Head of the Information Security Department. The risk assessment is carried out in accordance
with the requirements of the Information Security Act (ISA), namely at the level of information assets, threats and
vulnerabilities, which allows for a more comprehensive definition of measures to achieve the strategic objectives.
In 2023, the same as the year before, information security risks are assessed as moderate following the measures
and control activities taken, whereby the risk is controlled to an acceptable level. In 2023, Luka Koper, d. d., detected
no security incidents in the area of IT support, which includes unauthorised access and abuse of vulnerabilities.
However, the rapid development of information technology requires a constant adaptation of tools and
methodologies in the field of information security to ensure the availability, integrity and confidentiality of
information systems and thus the continuity of the company's operations. In accordance with the set strategy and
annual plans, the company implements measures to prevent cyber-attacks, detect potential security incidents and
respond effectively to them, thereby strengthening the company's resilience and reducing the possibility of negative
consequences. Measures fall into the following categories:
• Preventive measures: Preventive measures are in place to reduce the possibility of security incidents,
divided into organisational and technical measures. This includes setting up advanced security
mechanisms, regularly updating and upgrading IT assets, reviewing security policies and conducting
242 Annual report 2023 Information Systems Security
regular security reviews of the company's IT environment in cooperation with external IT security
experts. Security checks are carried out to check the possibility of misuse of information systems,
communication systems and server infrastructure, in the form of vulnerability exploitations, escalation
of privileges, unauthorised access to information assets and data that are trade secrets. In addition to
targeted security audits, Luka Koper, d. d., carries out regular IT asset health checks on a weekly,
monthly and quarterly basis. Critical IT systems that are essential to the company's business are
supported by alternative data fields, in line with best practices in the field, which ensure high availability,
either on separate sites or in cloud services.
• Detection and response: Mechanisms have been established to monitor and detect security events in the
company's information environment and thus respond quickly to them. These mechanisms include
control of events on the server infrastructure, communication equipment and workstations/mobile
stations of users of the IT environment.
• User education and awareness: Employee protection is crucial, as employees are often the first line of
defence against security threats. The company conducts regular training and raises awareness among
employees about risks in IT security and regularly involves them in simulated attacks in order to check
the response of users to fake electronic messages. In 2023, Luka Koper, d. d., conducted online training
for all employees on the internal Knowledge Room platform on the importance and good practices of
ensuring information and cyber security.
• Active monitoring of external trends that may affect the field of IT security using freely available Open-
Source Intelligence (OSINT) tools and paid resources with the aim of adapting measures to ensure
additional protection in this area. The company is included in the network of cyber security response
centres, through which it receives indicators of abuse from the SI-CERT Slovenian Computer Emergency
Response Team, which enables the company to quickly detect and respond to potential cyber threats in
the Republic of Slovenia and neighbouring EU countries and to identify the most common attack vectors.
In accordance with the annual plan, Luka Koper, d. d., introduced additional security mechanisms in 2023 to ensure
a higher level of information security:
• Additional security mechanisms for user authentication to provide additional protection against
unauthorised access; and
• Additional tools for monitoring and controlling security events in the information environment, faster
response to security events in the information environment, and protection against potential threats.
GRI content index (according to 2021 standards) Annual report 2023 243
29 GRI content index (according to 2021 standards)
2023
Statement on the use of GRI standards
Luka Koper, d. d., and the Luka Koper Group, reported in accordance with GRI standards for the period from 1 January 2023 to 31
December 2023.
GRI 1 used
GRI 1: Foundation 2021
Applicable GRI sector standard
-
GRI
standard
Disclosure
Boundaries
Chapter
Page
Note/disclaimer
Omitted
Reason
Explanation
GRI 2 GENERAL DISCLOSURES 2021
The organization and its reporting practices
GRI 2
2-1 Organizational details
Luka Koper
Group
7 Presentation of the Luka Koper Group and a
description of the business model
7.1 Company profile of Luka Koper, d. d. as at 28
March 2024
15 The LKPG Share
p. 52
p. 53
p. 81
GRI 2
2-2 Entities included in the
organization’s sustainability
reporting
Luka Koper
Group
7.2 Organisation of the Luka Koper Group and
associates
7.3 Inclusion in the consolidated financial
statements
p. 54
p. 54
GRI 2
2-3 Reporting period, frequency
and contact point
Luka Koper
Group
16.3.2 Reporting periods
p. 88
244 Annual report 2023 GRI content index (according to 2021 standards)
GRI 2
2-4 Restatements of information
Luka Koper
Group
16.3 Sustainability report according to
international standards of sustainability
reporting
p. 87
GRI 2
2-5 External assurance (audit)
Luka Koper
Group
16.3.4 External verification of sustainability
report
p. 88
Activities and workers
GRI 2
2-6 Activities, value chain and
other business relationships
Luka Koper
Group
7 Presentation of the Luka Koper Group and a
description of the business model
7.4 Activities of the Luka Koper Group
9.2.1 Market position
26.2 Supply chain
p. 52
p. 55
p. 61
p. 230
GRI 2
2-7 Employees
Luka Koper
Group
21.1 Employee management system
21.1.2 Number of employees in Luka Koper, d.
d., and in the Luka Koper Group, by gender
21.1.3 Number of employees in Luka Koper, d.
d., and in the Luka Koper Group, by region of
residence
21.1.6 Employee structure in Luka Koper, d. d.
and Luka Koper Group by age group
p. 201
p. 203
p. 204
p. 206
GRI 2
2-8 Workers who are not
employees
Luka Koper
Group
21.1 Employee management system
21.1.4 Number of agency workers
p. 201
p. 205
Governance
GRI 2
2-9 Governance structure and
composition
Luka Koper,
d. d.
4.3 Management system
4.4 General Meeting
4.5 Supervisory Board of Luka Koper, d. d.
4.6 Management Board of Luka Koper d. d.
15 The LKPG Share
p. 29
p. 30
p. 31
p. 35
p. 81
GRI 2
2-10 Nomination and selection of
the highest governance body
Luka Koper,
d. d.
4.2.8 The Company’s rules on appointments or
replacements of members of management and
supervisory bodies
4.3 Management system
4.4 General Meeting
4.5 Supervisory Board of Luka Koper, d. d.
4.6 Management Board of Luka Koper d. d.
p. 28
p. 29
p. 30
p. 31
p. 35
GRI 2
2-11 Chair of the highest
governance body
Luka Koper,
d. d.
4.6 Management Board of Luka Koper d. d.
p. 35
GRI content index (according to 2021 standards) Annual report 2023 245
GRI 2
2-12 Role of the highest
governance body in overseeing the
management of impacts
Luka Koper,
d. d.
Statement of Management’s Responsibility
8 Business development strategy
17 Process to determine material topics
18 Luka Koper Group and sustainable
development guidelines
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
p. 2
p. 57
p. 90
p. 97
p. 232
GRI 2
2-13 Delegation of responsibility
for managing impacts
Luka Koper,
d. d.
14.1 Key roles and responsibilities in the risk
and opportunity management system
17 Process to determine material topics
18 Luka Koper Group and sustainable
development guidelines
19.2 About the environmental management
system
20.1 Occupational safety and health system
20.2.1 Organisation
23.3 Consumer data protection
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
p. 76
p. 90
p. 97
p. 120
p. 192
p. 192
p. 219
p. 232
GRI 2
2-14 Role of the highest
governance body in sustainability
reporting
Luka Koper,
d. d.
Statement of Management’s Responsibility
2 Letter of the President of the Management
Board
17 Process to determine material topics
18 Luka Koper Group and sustainable
development guidelines
p. 2
p. 16
p. 90
p. 97
GRI 2
2-15 Conflicts of interest
Luka Koper,
d. d.
4.5.9 Supervisory Board's work
4.6.2 Presentation of members of the
Management Board of Luka Koper, d. d. as at 1
January 2024
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
p. 33
p. 36
p. 232
GRI 2
2-16 Communication of critical
concerns
Luka Koper,
d. d.
4.3 Management system
14 Managing risks and opportunities
14.1 Key roles and responsibilities in the risk
and opportunity management system
17 The process of determining the material
topics
19.6.3 Registered and processed environmental
complaints
27.3.2 Human rights
p. 29
p. 75
p. 76
p. 90
p. 132
p. 238
2-16 b not covered.
Critical impacts are
not counted. They
are only reported.
246 Annual report 2023 GRI content index (according to 2021 standards)
GRI 2
2-17 Collective knowledge of the
highest governance body
Luka Koper,
d. d.
18 Luka Koper Group and sustainable
development guidelines
p. 97
GRI 2
2-18 Evaluation of the
performance of the highest
governance body
Luka Koper,
d. d.
4.7.2 Management performance assessment
p. 38
GRI 2
2-19 Remuneration policies
Luka Koper,
d. d.
4.5.11 Remuneration of the Supervisory Board
4.7.1 Remuneration of the Management Board
4.7.2 Management performance assessment
4.11 Appendix to the Corporate Governance
Statement
21.1.5 Share of employees in Luka Koper, d. d.
and Luka Koper Group covered by collective
bargaining agreement
Note 31. Related party transactions
p. 34
p. 38
p. 38
p. 41
p. 205
p. 317
GRI 2
2-20 Process to determine
remuneration
Luka Koper,
d. d.
4.5.11 Remuneration of the Supervisory Board
4.7.1 Remuneration of the Management Board
21.1.5 Share of employees in Luka Koper, d. d.
and Luka Koper Group covered by collective
bargaining agreement
p. 34
p. 38
p. 205
GRI 2
2-21 Annual total compensation
ratio
Luka Koper
Group
21.1.11 Employee benefits
p. 208
Strategy, policies and practices
GRI 2
2-22 Statement on sustainable
development strategy
Luka Koper
Group
2 Letter of the President of the Management
Board
p. 16
GRI 2
2-23 Policy commitments
Luka Koper,
d. d.
4.1 Codes and Management Practice
14 Managing risks and opportunities
18 Luka Koper Group and sustainable
development guidelines
19.7 Environmental risk management and
emergency response
19.8.7 Climate change, and related opportunities
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.3 Respect for human rights.
p. 26
p. 75
p. 97
p. 134
p. 144
p. 232
p. 237
GRI 2
2-24 Embedding policy
commitments
Luka Koper,
d. d.
18 Luka Koper Group and sustainable
development guidelines
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
p. 97
p. 232
GRI content index (according to 2021 standards) Annual report 2023 247
GRI 2
2-25 Processes to remediate
negative impacts
Luka Koper
Group
2 Letter of the President of the Management
Board
14 Managing risks and opportunities
18 Luka Koper Group and sustainable
development guidelines
19 Long-term sustainability of the natural
environment
20.2.4 Implementation of health measures and
prevention or mitigation of negative effects on
health
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.3 Respect for human rights.
p. 16
p. 75
p. 97
p. 104
p. 193
p. 232
p. 237
GRI 2
2-26 Mechanisms for seeking
advice and raising concerns
Luka Koper,
d. d.
19.6.3 Registered and processed environmental
complaints
21.1 Employee management and training
system
21.2.1 Employee training
21.4 Cooperation with educational institutions
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.3 Respect for human rights.
p. 132
p. 201
p. 212
p. 215
p. 232
p. 237
GRI 2
2-27 Compliance with laws and
regulations
Luka Koper
Group
19.5.1 Compliance with environmental
legislation
19.6.4 Inspections
20.4 Compliance with occupational safety
legislation
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.1 Compliance with laws and regulations
p. 126
p. 133
p. 195
p. 232
p. 234
In the years 2021,
2022 and 2023, no
fines were imposed
in the company
Luka Koper, d. d. In
2023, one financial
penalty of EUR 30
was imposed in a
subsidiary.
GRI 2
2-28 Membership associations
Luka Koper,
d. d.,
Luka Koper
INPO, d. o. o.
25.3 Membership and initiatives
p. 227
Stakeholder engagement
GRI 2
2-29 Approach to stakeholder
engagement
Luka Koper
Group
17 Process to determine material topics
17.1.1 Stakeholders of Luka Koper
p. 90
p. 90
248 Annual report 2023 GRI content index (according to 2021 standards)
GRI 2
2-30 Collective bargaining
agreements
Luka Koper
Group
21.1.5 Share of employees in Luka Koper, d. d.
and Luka Koper Group covered by collective
bargaining agreement
p. 205
GRI 3: MATERIAL TOPICS 2021
GRI 3
3-1 Process to determine material
topics
Luka Koper
Group
17 Process to determine material topics
p. 90
GRI 3
3-2 List of material topics
Luka Koper
Group
17 Process to determine material topics
17.1.1 Stakeholders of Luka Koper
17.5 Materiality matrix and identified impacts
p. 90
p. 90
p. 94
MATERIAL TOPIC GRI 201: Economic Performance 2016
GRI 3
3-3 Management approach
Luka Koper
Group
22 Social responsibility
23 Sustainable relationship with customers
25 Stability and business performance
26.1 Building relationships with suppliers
p. 216
p. 219
p. 224
p. 229
*
GRI 201
201-1 Direct economic value
generated and distributed
Luka Koper
Group
22.1 Distribution of donations and sponsorships
in 2023
22.2 Distribution and amount of donations and
sponsorships in years 2021 to 2023
25.2 Direct economic value generated and
distributed
p. 217
p. 218
p. 226
GRI 201
201-2 Financial implications and
other risks and opportunities due
to climate change
Luka Koper,
d. d.
19.8.7 Climate change, and related opportunities
p. 144
GRI 201
201-3 Defined benefit plan
obligations and other retirement
plans
Luka Koper
Group
21.1.11 Employee benefits
p. 208
201-3a, 201-3b,
201-3c not covered.
The requirements are
not relevant as the
Company has no own
pension plan. By
paying the prescribed
contributions,
employees are
covered by the
statutory pension
scheme. A few years
ago, we also joined
voluntary
supplementary
pension schemes run
by various pension
fund managers. The
Company/Group pays
GRI content index (according to 2021 standards) Annual report 2023 249
part of the voluntary
supplementary
pension insurance
premium on a monthly
basis, and part of the
premium is paid by the
employees
themselves. After
paying the additional
pension insurance
premiums, which are
settled on an
ongoing/monthly
basis, the company
has no other
obligations in this
regard.
MATERIAL TOPIC GRI 202: Market Presence 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
21.1 Employee management and training
system
p. 201
*
GRI 202
202-1 Ratios of standard entry
level wage by gender compared to
local minimum wage
Luka Koper,
d. d.
21.1.11 Employee benefits
p. 208
MATERIAL TOPIC GRI 203: Indirect Economic Impacts 2016
GRI 3
3-3 Management approach
Luka Koper
Group
22 Social responsibility
25 Stability and business performance
25.1 Indirect impacts of operations of Luka Koper
p. 216
p. 224
p. 225
*
GRI 203
203-1 Infrastructure investments
and services supported
Luka Koper
Group
11 Investments in non-financial assets
p. 69
GRI 203
203-2 Significant indirect
economic impacts
Luka Koper,
d. d.
22 Social responsibility
25.1 Indirect impacts of operations of Luka Koper
p. 216
p. 225
MATERIAL TOPIC GRI 204: Procurement Practices 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
26.1 Building relationships with suppliers
26.2.3 Assessing supplier awareness
p. 229
p. 231
*
GRI 204
204-1 Proportion of spending on
local suppliers
Luka Koper,
d. d.
26.2.1 Share of total value of purchases of Luka
Koper, d. d. in 2023 by country
p. 230
204-1c not covered.
Luka Koper
operates at a single
location.
250 Annual report 2023 GRI content index (according to 2021 standards)
26.2.2 Share of total value of purchases by Luka
Koper, d. d. in the Slovenian market in 2023 by
statistical region
p. 231
MATERIAL TOPIC GRI 205: Anti-corruption 2016
GRI 3
3-3 Management approach
Luka Koper
Group
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.2 Prevention of corruption
p. 232
p. 235
*
GRI 205
205-1 Operations assessed for
risks related to corruption
Luka Koper,
d. d.
27.2 Prevention of corruption
p. 235
GRI 205
205-2 Communication and
training about anti-corruption
policies and procedures
Luka Koper
Group
27.2 Prevention of corruption
p. 235
GRI 205
205-3 Confirmed incidents of
corruption and actions taken
Luka Koper
Group
27.2 Prevention of corruption
p. 235
GRI 300
GRI 3
3-3 Management Approach (GRI
302 - GRI 306)
Luka Koper,
d. d.
8 Business development strategy
18 Luka Koper Group and sustainable
development guidelines
19.2 About the environmental management
system
19.3 Living in harmony with the environment
19.4 Policy on safety and health in the port and
energy efficiency
19.5 Compliance with environmental protection
requirements
19.6 Public communication
19.7 Environmental risk management and
emergency response
p. 57
p. 97
p. 120
p. 120
p. 126
p. 126
p. 128
p. 134
MATERIAL TOPIC GRI 302: Energy 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
19.8 Emissions/immission from port operations
19.11 Energy use and energy efficiency
p. 137
p. 165
*
GRI 302
302-1 Energy consumption within
the organization
Luka Koper,
d. d.
19.11.2 Consumption of energy sources
p. 166
Omitted 302-1c ii,
iii, iv and d.
There is no steam
production, so we
do not report it.
Energy
consumption for
GRI content index (according to 2021 standards) Annual report 2023 251
heating and cooling
is not reported
separately as these
sources are not
measured
separately but are
included in the total
consumption of
energy sources.
We do not sell
electricity.
GRI 302
302-2 Energy consumption
outside of the organization
Luka Koper,
d. d.
19.11.2 Consumption of energy sources
p. 166
GRI 302
302-3 Energy intensity
Luka Koper,
d. d.
19.11.2 Consumption of energy sources
p. 166
GRI 302
302-4 Reduction of energy
consumption
Luka Koper,
d. d.
19.3.3 Realisation of environmental objectives in
the period 2021-2023
19.11.2 Consumption of energy sources
19.11.5 Implementation of improvement
programmes to reduce electricity and fuel
consumption
p. 124
p. 166
p. 169
MATERIAL TOPIC GRI 303: Water and Effluents 2018
GRI 3
3-3 Management approach
Luka Koper,
d. d.
19.8.7 Climate change, and related opportunities
19.12 Drinking water and groundwater
management
19.13 Wastewater management
p. 144
p. 171
p. 174
*
GRI 303
303-1 Interactions with water as a
shared resource
Luka Koper,
d. d.
19.8.7 Climate change, and related opportunities
19.12 Drinking water and groundwater
management
p. 144
p. 171
GRI 303
303-2 Management of water
discharge-related impacts
Luka Koper,
d. d.
19.12 Drinking water and groundwater
management
19.13 Wastewater management
p. 171
p. 174
GRI 303
303-3 Water withdrawal
Luka Koper,
d. d.
19.12 Drinking water and groundwater
management
p. 171
Omitted 303-3b.
The area is not
identified as a
water-scarce area.
GRI 303
303-4 Water discharge
Luka Koper,
d. d.
19.5.1. Compliance with environmental
legislation
p. 126
Omitted 303-4c.
The area is not
identified as a
252 Annual report 2023 GRI content index (according to 2021 standards)
19.12 Drinking water and groundwater
management
19.13 Wastewater management
p. 171
p. 174
water-scarce area,
which would
require an
additional
breakdown by
individual
discharges.
GRI 303
303-5 Water consumption
Luka Koper,
d. d.
19.8.7 Climate change, and related
opportunities
19.12 Drinking water and groundwater
management
p. 144
p. 171
Omitted 303-5 b, c.
b. The area is not
identified as a
water-scarce area.
c. No storage of
water supplies that
would affect the
water consumption
of the immediate or
wider area.
MATERIAL TOPIC GRI 304: Biodiversity 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
19.15 Biodiversity
p. 177
*
GRI 304
304-1 Operational sites owned,
leased, managed in, or adjacent
to, protected areas and areas of
high biodiversity value outside
protected areas
zaščitenih območij
Luka Koper,
d. d.
19.3 Living in harmony with the environment
19.15 Biodiversity
p. 120
p. 177
GRI 304
304-2 Significant impacts of
activities, products, and services
on biodiversity
Luka Koper,
d. d.
19.3 Living in harmony with the environment
19.15 Biodiversity
p. 120
p. 177
GRI 304
304-3 Habitats protected or
restored
Luka Koper,
d. d.
19.3 Living in harmony with the environment
19.15 Biodiversity
p. 120
p. 177
GRI 304
304-4 IUCN Red List species and
national conservation list species
with habitats in areas affected by
operations
Luka Koper,
d. d.
19.3 Living in harmony with the environment
19.15 Biodiversity
p. 120
p. 177
MATERIAL TOPIC GRI 305: Emissions 2016
GRI content index (according to 2021 standards) Annual report 2023 253
GRI 3
3-3 Management approach
Luka Koper,
d. d.
19.8 Emissions/immission from port operations
19.11 Energy use and energy efficiency
p. 137
p. 165
*
GRI 305
305-1 Direct (Scope 1) GHG
emissions
Luka Koper,
d. d.
19.8.8 Greenhouse gas emissions calculation
p. 148
GRI 305
305-2 Energy indirect (Scope 2)
GHG emissions
Luka Koper,
d. d.
19.8.8 Greenhouse gas emissions calculation
p. 148
GRI 305
305-3 Other indirect (Scope 3)
GHG emissions
Luka Koper,
d. d.
19.8.8 Greenhouse gas emissions calculation
p. 148
GRI 305
305-6 Emissions of ozone-
depleting substances (ODS)
Luka Koper,
d. d.
19.8.8 Greenhouse gas emissions calculation
p. 148
Omitted 305-6a.
Everything is
converted to CO
2
equivalents, so that
all contributions
can be added up,
which is why we did
not perform the
conversion in CFC-
11.
Luka Koper, d. d.,
does not import or
export ozone-
depleting
substances.
GRI 305
305-7 Nitrogen oxides (NOx),
sulphur oxides (SOx), and other
significant air emissions
Luka Koper,
d. d.
19.8.2 Total dust in the port
19.8.3 Concentrations of harmful particulate
matter
19.8.4 Emissions of substances at key sources
19.8.9 Volatile compound emissions
measurement
p. 138
p. 139
p. 142
p. 150
GRI 305
Noise emissions
Luka Koper,
d. d.
19.10 Noise emissions
p. 159
GRI 305
Light pollution
Luka Koper,
d. d.
19.14 Light pollution
p. 176
MATERIAL TOPIC GRI 306: Waste 2020
GRI 3
3-3 Management approach
Luka Koper,
d. d.
19.9 Waste management
p. 152
p. 158
*
254 Annual report 2023 GRI content index (according to 2021 standards)
19.9.2 Implementation of waste management
improvement programmes
GRI 306
306-1 Waste generation and
significant waste-related impacts
Luka Koper,
d. d.
19.9 Waste management
19.9.1 Results in waste management
p. 152
p. 154
GRI 306
306-2 Management of significant
waste-related impacts
Luka Koper,
d. d.
19.9 Waste management
19.9.1 Results in waste management
p. 152
p. 154
GRI 306
306-3 Waste generated
Luka Koper,
d. d.
19.9.1 Results in waste management
p. 154
GRI 306
306-4 Waste diverted from
disposal
Luka Koper,
d. d.
19.9.1 Results in waste management
p. 154
GRI 306
306-5 Waste directed to disposal
Luka Koper,
d. d.
19.9.1 Results in waste management
p. 154
MATERIAL TOPIC GRI 308 Supplier environmental assessment 2016
GRI 3
3-3 Management approach
Luka Koper
Group
26.1 Building relationships with suppliers
26.2. Supply chain
26.2.3 Assessing supplier awareness
p. 229
p. 230
p. 231
*
GRI 308
308-2 Negative environmental
impacts in the supply chain and
actions taken
Luka Koper
Group
26.2.3 Assessing supplier awareness
p. 231
MATERIAL TOPIC GRI 401 Employment 2016
GRI 3
3-3 Management approach
Luka Koper
Group
21.1 Employee management and training
system
p. 201
*
GRI 401
401-1 New employee hires and
employee turnover
Luka Koper
Group
21.1.7 Recruitment and departures in Luka
Koper, d. d., and the Luka Koper Group, by
gender
21.1.8 Recruitment and departures in Luka
Koper, d. d., and the Luka Koper Group, by age
group
21.1.9 Recruitment and departures in Luka
Koper, d. d., and the Luka Koper Group, by region
of residence
21.1.10 Comparison of new employee hires,
contract termination and fluctuation rate
p. 206
p. 207
p. 207
p. 207
GRI content index (according to 2021 standards) Annual report 2023 255
GRI 401
401-2 Benefits provided to full-
time employees that are not
provided to temporary or part-
time employees
Luka Koper,
d. d.
21.1.11 Employee benefits
p. 208
GRI 401
401-3 Parental leave
Luka Koper
Group
21.1.12 Number of Luka Koper, d. d., and Luka
Koper Group employees who took parental leave
and returned to their workplace, by gender
p. 209
MATERIAL TOPIC GRI 403: Occupational Health and Safety 2018
GRI 3
3-3 Management approach
Luka Koper
Group
20.1 Occupational safety and health system
20.2.3 Hazard identification, risk assessment,
and incident investigation
20.3 Occupational safety and health objectives
20.7 Summary of most important activities
performed in the area of occupational health and
safety in 2023
20.8 Health care
p. 192
p. 193
p. 195
p. 198
p. 199
*
GRI 403
403-1 Occupational health and
safety management system
Luka Koper
Group
20.1 Occupational safety and health system
20.2.2 Workers covered by an occupational
health and safety management system
p. 192
p. 193
GRI 403
403-2 Hazard identification, risk
assessment, and incident
investigation
Luka Koper
Group
20.2.3 Hazard identification, risk assessment,
and incident investigation
p. 193
GRI 403
403-3 Occupational health
services
Luka Koper
Group
20.2.4 Implementation of health measures and
prevention or mitigation of negative effects on
health
p. 193
GRI 403
403-4 Worker participation,
consultation and communication
on occupational health and safety
Luka Koper,
d. d.
20.2.6 Worker participation and consultation
with employee representatives
p. 194
GRI 403
403-5 Worker training on
occupational health and safety
Luka Koper,
d. d.
20.2.5 Training on safe and healthy working
practices
p. 194
GRI 403
403-6 Promotion of worker health
Luka Koper
Group
20.2.4 Implementation of health measures and
prevention or mitigation of negative effects on
health
20.8 Health care
p. 193
p. 199
256 Annual report 2023 GRI content index (according to 2021 standards)
GRI 403
403-7 Prevention and mitigation of
occupational health and safety
impacts directly linked by
business relationships
Luka Koper
Group
20.2.4 Implementation of health measures and
prevention or mitigation of negative effects on
health
20.6 Loss events
20.7 Summary of most important activities
performed in the area of occupational health and
safety in 2023
p. 193
p. 197
p. 198
GRI 403
403-8 Workers covered by an
occupational health and safety
management system
Luka Koper
Group
20.2.2 Workers covered by an occupational
health and safety management system
p. 193
GRI 403
403-9 Work-related injuries
Luka Koper
Group
20.1 Occupational safety and health system
20.2.3 Hazard identification, risk assessment,
and incident investigation
20.3 Occupational safety and health objectives
20.5 Injuries at work
20.7 Summary of most important activities
performed in the area of occupational health and
safety in 2023
20.9 Occupational health and safety activities
planned in 2024
p. 192
p. 193
p. 195
p. 195
p. 198
p. 200
GRI 403
403-10 Work-related ill health
Luka Koper
Group
20.2.4 Implementation of health measures and
prevention or mitigation of negative effects on
health
p. 193
MATERIAL TOPIC GRI 404 Training and education 2016
GRI 3
3-3 Management approach
Luka Koper
Group
21.1 Employee management and training
system
p. 201
*
GRI 404
404-1 Average hours of training
per year per employee
Luka Koper
Group
21.2.1 Employee training
p. 212
GRI 404
404-2 Programs for upgrading
employee skills and transition
assistance programs
Luka Koper
Group
21.2.2 Introduced programmes
p. 213
GRI 404
404-3 Percentage of employees
receiving regular performance
and career development reviews
Luka Koper
Group
21.2.3 Promotion and internal mobility of
employees
p. 213
GRI content index (according to 2021 standards) Annual report 2023 257
MATERIAL TOPIC GRI 405 Diversity and Equal Opportunity 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
4.5 Supervisory Board of Luka Koper, d. d.
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.3 Respect for human rights.
27.3.1 Diversity policy
p. 31
p. 232
p. 237
p. 237
*
GRI 405
405-1 Diversity of governance
bodies and employees
Luka Koper
Group
4.5 Supervisory Board of Luka Koper, d. d.
4.6.2 Presentation of members of the
Management Board of Luka Koper, d. d. as at 1
January 2024
21.1.2 Number of employees in Luka Koper, d.
d., and in the Luka Koper Group, by gender
21.1.14 Diversity of employees in Luka Koper, d.
d., and the Luka Koper Group, by job category
21.1.15 Diversity of employees in Luka Koper, d.
d., and the Luka Koper Group, by gender
21.1.16 Diversity of employees in Luka Koper,
d. d., and the Luka Koper Group, by age group
p. 31
p. 36
p. 203
p. 210
p. 211
p. 211
MATERIAL TOPIC GRI 406 Non-discrimination 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
27 Corporate Integrity and Compliance,
Protection of Personal Data and Human Rights
27.3 Respect for human rights.
p. 232
p. 237
*
GRI 406
406-1 Incidents of discrimination
and corrective actions taken
Luka Koper,
d. d.
27.3 Respect for human rights.
p. 237
MATERIAL TOPIC GRI 413: Local Communities 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
18.1 Sustainable development strategy
22 Social responsibility
p. 99
p. 116
*
258 Annual report 2023 GRI content index (according to 2021 standards)
RI 413
413-1 Operations with local
community engagement, impact
assessments, and development
programs
Luka Koper,
d. d.
7.4 Activities of the Luka Koper Group
19.6 Public communication
19.6.3 Registered and processed environmental
complaints
19.10.1 Noise emission results
19.10.2 Implementation of noise reduction
improvement programmes
19.10.3 Noise control improvement programmes
scheduled for 2024
19.16.1 Statistics for interventions at sea
22 Social responsibility
22.1 Distribution of donations and sponsorships
in 2023
22.2 Distribution and amount of donations and
sponsorships in years 2021 to 2023
25.1 Indirect impacts of operations of Luka Koper
p. 55
p. 128
p. 132
p. 160
p. 163
p. 165
p. 182
p. 216
p. 217
p. 218
p. 225
GRI 413
413-2 Operations with significant
actual and potential negative
impacts on local communities
Luka Koper,
d. d.
19.10.1 Noise emission results
19.10.2 Implementation of noise reduction
improvement programmes
19.10.3 Noise control improvement programmes
scheduled for 2024
22 Social responsibility
p. 160
p. 163
p. 165
p. 216
MATERIAL TOPIC GRI 414 Supplier social assessment 2016
GRI 3
3-3 Management approach
Luka Koper,
d. d.
26.1 Building relationships with suppliers
26.2.3 Assessing supplier awareness
p. 229
p. 231
*
GRI 414
414-2 Negative social impacts in
the supply chain and actions taken
Luka Koper,
d. d.
26.2.3 Assessing supplier awareness
p. 231
* The description of management approaches is also partly covered in Chapter 25.4. The evaluation of management approaches will be completed and upgraded in the 2024
reporting, in line with the requirements of the ESRS standards.
Financial statements of Luka Koper, d. d. and Luka Koper Group Annual report 2023 259
FINANCIAL STATEMENT
30 Financial statements of Luka
Koper, d. d. and Luka Koper
Group
30.1 Income Statement
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Note
2023
2022
2023
2022
Net sales
1
Capitalised own products and services
2
Other income
3
Cost of material
4
-22,147,066
-22,796,898
-22,410,601
-23,204,563
Cost of services
5
-85,222,742
-74,316,012
-79,867,051
-69,329,678
Cost of labour
6
-101,718,121
-93,577,828
-109,876,184
-101,241,289
Depreciation
7
-32,263,102
-30,799,846
-32,819,539
-31,487,994
Other expenses
8
-12,832,099
-9,392,711
-13,050,836
-9,427,804
Operating profit
Finance income
Finance expenses
-1,683,570
-1,244,790
-1,709,016
-764,667
Profit from financing activity
9
Profit of associates
Profit before taxes
Accrued taxes
10
-5,219,628
-13,377,322
-5,448,518
-13,471,233
Deferred taxes
10
-5,452,838
-190,887
-5,481,169
-254,308
Net profit from continuing operations
Net loss from discontinued operations
-66,280
Net profit for the period
Net profit for the period attributable to the
parent/controlling company
Net profit for the period attributable to non-
controlling interests
Net earnings per share
11
Notes to the Financial Statements form an integral part of the Financial Statements and should be read in
conjunction with these.
260 Annual report 2023 Financial statements of Luka Koper, d. d. and Luka Koper Group
30.2 Statement of other comprehensive income
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Note
2023
2022
2023
2022
Net profit for the period
a) Items of other comprehensive income,
classified by nature and grouped together:
Actuarial gains or losses on post-
employment benefits
23
-280,760
-331,085
Deferred tax on actuarial gains or losses
27
-20,002
-17,848
Change in revaluation surplus of financial
assets measured at fair value through equity
18
-11,619,416
-11,773,348
Deferred tax on revaluation of financial
assets measured at fair value through equity
27
-2,299,931
-2,209,850
Items that will not be reclassified
subsequently to profit or loss
-9,256,752
-9,422,123
b) Shares of other comprehensive income
of associated companies and joint ventures,
which is accounted for using the equity
method:
Actuarial gains or losses on post-
employment benefits of associates
-9,889
Items that will not be reclassified
subsequently to profit or loss of associates
-9,889
Total comprehensive income for the period
Total comprehensive income for the period
attributable to owners of the parent
Total comprehensive income for the period
attributable to non-controlling interests
Financial statements of Luka Koper, d. d. and Luka Koper Group Annual report 2023 261
30.3 Statement of financial position
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Note
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
ASSETS
Property, plant and equipment
12
Investment property
13
Intangible assets
14
Other assets
15
Shares and interests in Group companies
16
Shares and interests in associates
17
Other non-current investments
18
Deposits and loans given
Non-current operating receivables
Deferred tax assets
28
Non-current assets
Inventories
19
Current investments
20
Trade and other receivables and assets
21
Assets from contracts with customers
Income tax assets
Cash and cash equivalents
22
Current assets
TOTAL ASSETS
EQUITY AND LIABILITIES
Share capital
Share premium
Revenue reserves
Reserves arising from valuation at fair value
Retained earnings
Equity attributable to owners of the controlling
company
Non-controlling interests
Total equity
23
Provisions
24
Deferred income
25
Non-current loans and borrowings
26
Other non-current financial liabilities
Non-current operating liabilities
Deferred tax liabilities
27
Non-current liabilities
Current loans and borrowings
28
Other current financial liabilities
Income tax liabilities
Trade and other payables
29
Current liabilities
TOTAL EQUITY AND LIABILITIES
262 Annual report 2023 Financial statements of Luka Koper, d. d. and Luka Koper Group
30.4 Statement of Cash Flows
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit for the period
Adjustments for:
Depreciation
Reversal and impairment losses on property, plant and
equipment, and intangible assets
Gain on sale of property, plant and equipment, and
investment property
-164,108
-675,055
-198,956
-821,416
Allowances for receivables
Collected impaired receivables and written-off liabilities
-610,462
-395,150
-622,616
-409,644
Reversal of provisions
-1,657,785
-2,975
-1,657,785
-2,975
Finance income
-7,572,819
-6,349,703
-6,391,292
-3,867,468
Finance expenses
Recognised result of subsidiaries under equity method
-1,780,357
-1,734,285
Accrued tax and deferred taxes
Profit on operating activities before changes in net
current operating assets and taxes
Change in other assets
-319,067
-319,067
Change in operating receivables
-12,852,528
-13,146,786
Change in inventories
-494,874
-150,837
-494,874
-150,837
Change in assets (disposal groups) held for sale
Change in liabilities (disposal groups) held for sale
Change in operating liabilities
Change in provisions
Change in non-current deferred income
Cash generated in operating activities
Interest expenses
-1,687,057
-485,214
-1,712,503
-490,091
Tax expenses
-16,543,596
-6,665,206
-16,652,848
-6,735,756
Net cash flows from operating activities
CASH FLOWS FROM INVESTMENT ACTIVITIES
Interest received
Dividends received and profit sharing – subsidiaries
Dividends received and profit sharing – associates
Dividends received and profit sharing – other companies
Proceeds from sale of property, plant and equipment,
and intangible assets
Proceeds from sale of investment property
Proceeds from sale, decrease in investments and loans
and deposits given
Acquisition of property, plant and equipment, and
intangible assets
-44,533,865
-46,043,710
-44,751,576
-46,701,498
Acquisition of investments, and increase in loans and
deposits given
-188,704,100
-193,704,100
Net cash flows from investing activities
-109,826,968
-40,164,103
-109,059,214
-40,807,677
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from non-current borrowings
Repayment of non-current borrowings
-5,142,857
-12,250,000
-5,142,857
-12,250,000
Repayment of current borrowings
-8,336,093
-32,408,143
-8,336,093
-32,408,143
Lease payments expense
-447,188
-384,460
-395,133
-412,757
Dividends paid
-35,000,000
-15,960,000
-35,000,000
-15,960,000
Net cash flows from financing activities
-24,902,603
-24,930,900
Net increase/decrease in cash and cash equivalents
-15,812,863
-13,120,239
Opening balance of cash and cash equivalents
Closing balance of cash and cash equivalents
Financial statements of Luka Koper, d. d. and Luka Koper Group Annual report 2022 263
30.5 Statement of Owner’s Equity
(in EUR)
Reserves arising from valuation
at fair value
Total equity
Share capital
Share
premium
Legal
reserves
Other
revenue
reserves
Retained
earnings
Investments
Actuarial gains
and losses
Balance at 31 December 2021
-1,567,938
Dividends paid
-15,960,000
-15,960,000
Changes in equity – transactions with owners
-15,960,000
-15,960,000
Net profit or loss for the period
Change in revaluation surplus of financial assets, less tax
-9,411,727
-9,411,727
Change in actuarial gains/losses, less tax
Total comprehensive income for the period
-9,411,727
Allocation of proportion of net profit for the period to other
equity components pursuant to resolution of the Management
and Supervisory Board
-36,633,113
Other movements within equity
-35,569
Movements within equity
-36,668,682
Balance at 31 December 2022
-1,377,395
Dividends paid
-35,000,000
-35,000,000
Changes in equity – transactions with owners
-35,000,000
-35,000,000
Net profit or loss for the period
Change in revaluation surplus of financial assets, less tax
Change in actuarial gains/losses, less tax
-256,813
-256,813
Total comprehensive income for the period
-256,813
Allocation of proportion of net profit for the period to other
equity components pursuant to resolution of the Management
and Supervisory Board
-27,225,011
Other movements within equity
-1,452,366
Movements within equity
-25,801,333
-1,452,366
Balance at 31 December 2023
-1,605,520
264 Annual report 2023 Financial statements of Luka Koper, d. d. and Luka Koper Group
30.6 Statement of Group Equity
(in EUR)
Reserves arising from
valuation at fair value
Total equity
attributable
to owners of
controlling
shares
Total equity
Share
capital
Share
premium
Legal
reserves
Other
revenue
reserves
Retained
earnings
Investments
Actuarial
gains and
losses
Equity of non-
controlling
interests
Balance at 31 December 2021
-1,732,471
Dividends paid
-15,960,000
-15,960,000
-10,835
-15,970,835
Changes in equity – transactions with owners
-15,960,000
-15,960,000
-10,835
-15,970,835
Net profit or loss for the period
Change in revaluation surplus of financial assets, less
tax
-9,536,412
-9,536,412
-9,536,412
Change in actuarial gains/losses, less tax
Total comprehensive income for the period
-9,536,412
Allocation of residual net profit for comparable period
to other equity components
-36,633,113
Other movements within equity
-55,739
Movements within equity
-36,688,852
Balance at 31 December 2022
-1,562,443
Dividends paid
-35,000,000
-35,000,000
-19,243
-35,019,243
Changes in equity – transactions with owners
-35,000,000
-35,000,000
-19,243
-35,019,243
Net profit or loss for the period
Change in revaluation surplus of financial assets, less
tax
Change in actuarial gains/losses, less tax
-304,828
-304,828
-304,828
Other elements of comprehensive income for the
reporting period
-9,889
-9,889
-9,889
Total comprehensive income for the period
-314,717
Allocation of proportion of net profit for the period to
other equity components pursuant to resolution of the
Management and Supervisory Board
-27,225,011
Other movements within equity
-2,117,354
Movements within equity
-25,161,666
-2,117,354
Balance at 31 December 2023
-1,823,151
Notes to Financial Statements Annual report 2023 265
31 Notes to Financial Statements
31.1 Bases for the presentation of financial statements
Reporting entity
Luka Koper, pristaniški in logistični sistem, delniška družba (hereinafter: Company), Vojkovo nabrežje 38, Koper ,
financial statements of Luka Koper, d. d. , and consolidated financial statements of the Luka Koper Group for the
year ended 31 December 2023 are presented below. Consolidated financial statements include statements of the
controlling company and statements of subsidiaries as well as the related profit or loss of associated companies.
Subsidiaries included in the consolidated financial statements:
• Luka Koper INPO, d. o. o., 100%
• Adria Terminali, d. o. o., 100%
• TOC, d. o. o., 68.13%
Associates included in the consolidated financial statements:
• Adria Transport, d. o. o., 50%
• Adria Transport Croatia, d. o. o., 50%, 100%-owned by Adria Transport, d. o. o.
• Adria-Tow, d. o. o., 50%
• Adriafin, d. o. o., 50%
• Avtoservis, d. o. o., 49%
Companies excluded from the consolidated financial statements as at 31 December 2023:
• Logis-Nova, d. o. o., 100%
• Adria Investicije, d. o. o., 100%
Adria Investicije, d. o. o., and Logis-Nova, d. o. o., were not included in the consolidated financial statements due to
being insignificant for a fair presentation of the Group’s financial position. They operate in a limited scope and
without employees. In their books, they only disclose property, and the balance sheet total of both was EUR 870,996
at 31 December 2023. Net sales for the business year amounted to EUR 84,559 (Adria Investicije, d. o. o.: EUR
61,139, and Logis-Nova, d. o. o.: EUR 23,450). Both companies recorded profits at the end of the year. If operations
of the two companies should change considerably, they would be included in the Group's consolidated statements.
As at 31 December 2023, the controlling company Luka Koper, d. d. transferred its investment in Adria Investicije,
d.o.o. to the new sole shareholder, Adria Terminali, d. o. o., as a subsequent payment recorded in the company's
capital reserves.
Declaration of conformity
The financial statements of Luka Koper, d. d. , and consolidated financial statements have been prepared in
accordance with International Financial Reporting Standards (IFRSs) as adopted by the International Accounting
Standards Board (IASB), and interpretations issued by the International Financial Reporting Interpretations
Committee (IFRIC) as adopted by the European Union, and in accordance with provisions of the Slovenian
Companies Act.
The Management Board of Luka Koper, d. d. approved these financial statements on 9 April 2024.
266 Annual report 2023 Notes to Financial Statements
Bases for measurement
The financial statements of the Company and the Group are prepared on the going concern basis since the
Company/Group has operated profitably in the past and has immediate access to liquid assets.
The statements have been prepared on the historical cost basis, except for finance investments, which were
measured at fair value. Methods applied for fair value measurement are clarified in the Note 32 ‘Financial
instruments and financial risk management’.
Functional and presentation currency
The financial statements are presented in EUR (exclusive of cents), which is the functional currency of the
Company/Group. Slight inaccuracies may appear due to rounding.
Use of estimates and judgements
Preparation of financial statements in conformity with IFRSs requires the management to make judgements,
estimates and assumptions that affect the application of accounting policies and the reported amounts of assets,
liabilities, income and expenses. Estimates are formed based on past experience and expectations in the accounting
period. Formation of estimates and the related assumptions and uncertainties are disclosed in the notes to
individual items.
Estimates, judgements and assumptions are reviewed on a regular basis. Actual results may differ from these
estimates, which are therefore reviewed and relevant adjustments formed on an ongoing basis. Changes in
accounting estimates are recognised in the period for which the estimates are modified, or in the coming periods
that are impacted by respective changes.
On the issue of climate change, the Company/Group is of the opinion that climate change does not represent a
significant element in the estimates, judgement or valuation of accounting items. Similarly, there have been no
relevant legislative changes that could affect the use of the Company/Group's estimates and judgements.
Estimates and judgements are used primarily with the following accounting items:
Assessing the adequacy of useful lives of assets (Notes 12 and 14 and Policies 32.1.2 and 32.1.3)
When determining the useful life of assets, the Company/Group takes into account the expected physical wear and
tear and technical and economic aging (significant technological changes, market changes, obsolescence, number
of operating hours or physical condition of individual assets). It is for this reason that the Company/Group regularly
reviews the useful lives of its major assets internally and, every 5 years, with the assistance of an external certified
valuer of property, plant and equipment. If there were significantly changed circumstances, the company/Group
would change the useful life and, consequently, the depreciation rate.
Assessing the impairment of assets
Property, plant and equipment (Notes 12 and 13, and Policies 32.1.2, 32.1.3 and 32.1.4)
Existence of possible indication of impairment for property, plant and equipment is assessed by the Company/Group
based on IAS 36. As at each reporting date, the Company/Group assesses whether there is any indication (external:
significant technological change, market change, significant decrease in market value, expected regulatory
restrictions on use; or internal: obsolescence, physical condition of an asset, changes in the scale of operations,
lower than expected economic performance...) that the asset may be impaired. If such indication exists, the
Company/Group is required to evaluate the recoverable value of the asset. If its recoverable value has changed by
more than 20 per cent in a year, it shall be presumed to have changed materially in use. The Company/Group
recognises the amount of the impairment loss as an expense (impairment charges, write-downs and losses on
sales of property, plant and equipment and investment property) in the profit or loss.
Investments in subsidiaries and associates (Notes 16 and 17 and Policy 32.1.5)
The Company/Group performs a test to assess the impairment of its investments in accordance with IAS 36 -
Impairment of Assets.
The amount of the impairment loss is measured as the difference between the carrying amount of the financial
asset and the present value of expected future cash flows based on long-term financial plans approved by
management, discounted at current market rates of return for similar financial assets calculated at the date of the
assessment. The Company/Group recognises the amount of the impairment loss as an expense (impairment
charges, write-downs and losses on sales of property, plant and equipment and investment property) in the profit
or loss.
Notes to Financial Statements Annual report 2023 267
For significant investments that show signs of impairment, a formal valuation may be obtained. In the case of a
formal valuation of an investment, the valuation is the basis for recognising the amount of the impairment loss.
Allocation of assets or part of assets to investment property (Note 13 and Policy 32.1.3)
The Company/Group classifies property, the major part of which is leased out on an operating basis, as investment
property. In cases where part of the property is leased out on an operating basis and the greater part is used for
the performance of the company's activities, the property is allocated entirely to property, plant and equipment.
The Company/Group regularly reviews whether reclassification to or from investment property is necessary, in
particular when the purpose of use changes (e.g. commencement of owner use, commencement of an operating
lease, end of investment use, etc.).
Leases (Note 12 and Policy 32.1.2.6)
Upon identification of the lease agreement, the company/Group performs an analysis, determines the duration of
the lease, and assesses the value of the rights to use assets and lease liability. Estimations of rights to use assets
and lease liability are made by discounting the future cash flows for the period of lease. Cash flows are discounted
based on a pondered interest rate realised by the Company/Group when raising non-current loans. Depreciation
resulting from the rights to use assets is calculated based on the remaining lease term.
The Company/Group has elected to apply exemptions for leases with a lease term of 12 months or less, and for
leases where the underlying asset has a low value.
Assessing the formation of provisions for legal disputes (Notes 24 and 30 and Policy 32.1.12.1)
A provision is recognised if the Company/Group has legal or indirect obligations arising from a past event that can
be reliably assessed, and if it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation. Contingent obligations are not recognised in the financial statements, as their exact amount
could not be established or their actual existence will be confirmed only upon the occurrence or non-occurrence
of events in the unforeseeable future, which the Company/Group cannot influence.
The Company/Group Management regularly checks whether the settlement of a contingent obligation will likely
require an outflow of resources embodying economic benefits. If it becomes probable that an outflow of future
economic benefits will be required, provisions for legal disputes are formed in the financial statements.
Assessing the adequacy of revenue recognition in contracts with customers (Note 1 and Policy 32.1.22)
The Company/Group discloses its revenue in accordance with IFRS 15. The core principle of the framework is that
an entity will recognise revenue to depict the transfer of promised goods or services to customers in an amount
that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.
For the purpose of revenue recognition, each company applies the stage of completion method as at the date of
statement of financial position, i.e., for cargo handling by volume and working hours performed, for warehousing
and logistics by days and volume, for maintenance upon construction situations and by hours performed, for
laboratory services by hours performed.
Operating income is recognised by each company when it can be reasonably expected that it will result in cash
receipts, unless such receipts were already realised when revenue was generated, and their amount can be reliably
measured.
Assessing the possibility of using receivables for deferred taxes (Note 27 and Policy 32.1.20)
Based on the estimate that sufficient profit will be available in the future, the Company/Group created deferred tax
assets provided under following:
• Provisions for jubilee premiums and retirement benefits,
• Impairment of investments,
• Deductible temporary differences arising from lawsuits and non-current accrued and deferred liability
items; and
• Impairment of receivables.
Deferred tax assets recognised under the formation of provisions for jubilee premiums and retirement benefits are
reduced by relevant amounts of provisions utilised according to the FIFO method, because from 2022 inclusive,
provisions from jubilee premiums and retirement benefits are fully recognized for tax purposes.
268 Annual report 2023 Notes to Financial Statements
Given that the impairment losses on investments and receivables are not recognised as tax expenditure upon
formation, the Company/Group formed deferred tax assets in the relevant amounts. Deferred tax assets will be
capitalised upon the sale or disposal of the investment or financial instrument and upon the final write-off of
receivables.
The tax rate used to calculate the amount of deductible temporary differences is 22 percent, and 19 percent for
deferred tax assets for jubilee bonuses and termination benefits. Based on the adopted Act on Reconstruction,
Development and Provision of Financial Resources (ZORZFS), the Company/Group has adjusted the tax rate to 22
percent for those deductible temporary differences that it believes it may be able to utilise in the period from 2024
to 2028, i.e., during the period of the increased corporate income tax rate.
Assessment of provisions formed for retirement benefits and jubilee premiums (Note 25 and Policy 32.1.12.2)
Obligations for defined post-employment and other benefits record the present value of retirement benefits and
jubilee premiums. They are recognised on the basis of an actuarial calculation approved by the Management. The
actuarial calculation is based on assumptions and assessments valid during the calculation, which may differ in
the future from the actual assumptions in force at the time as a result of changes. This pertains particularly to the
determination of the discount rate, the assessment of the fluctuation of employees, the assessment of the death
rate and the assessment of salary growth. Due to the complexity of the actuarial calculation and the long-term
nature of the item, obligations for defined benefits are sensitive to changes in the mentioned assessments.
Summary of significant information on accounting policies Annual report 2023 269
32 Summary of significant information on
accounting policies
32.1 The accounting policies applied
The accounting policies detailed below were consistently applied in all the periods presented in the financial
statements.
The Luka Koper Group companies apply uniform accounting policies that have been changed and adjusted to
Group’s policies where necessary.
32.1.1 Foreign currency transactions
Transactions in foreign currency are translated into Euro at the reference exchange rate of the European Central
Bank prevailing at the transaction date. Monetary assets and liabilities expressed in foreign currency as at the date
of the statement of financial position are translated at the reference exchange rate of the ECB at the final day of
the accounting year. All differences resulting from foreign currency translation are recognised in the income
statement.
32.1.2 Property, plant and equipment
The Company/Group shall recognise an item of property, plant and equipment if, and only if:
• It is probable that the future economic benefits associated with the asset will flow to the Company, and
• Cost can be measured reliably.
They are used by the Company/Group in the provision of services, leased to others or used for office purposes, and
are expected to be used for more than one year.
When the Company/Group acquires an asset of significant value, it allocates the amount initially recognised to its
significant parts. The objective of dividing an asset into parts is reflected in the related economic benefit (facilities,
storage and handling areas and handling equipment).
Spare parts and maintenance equipment are usually treated as stock and recognised in profit or loss as consumed.
The Company/Group recognises major spare parts and replacement equipment as tangible assets if they are
expected to be used in more than one accounting period. If spare parts and maintenance equipment can be used
only in connection with a particular item of tangible fixed assets, they are accounted for as tangible assets.
Property, plant and equipment are measured at cost. Under the cost model, an item of property, plant and
equipment is carried at its cost less accumulated depreciation and accumulated impairment losses. The cost of an
item of property, plant and equipment is equal to the monetary price on the date of the asset’s recognition.
Land is accounted for separately and is not subject to depreciation.
32.1.2.1 Borrowing costs
Pursuant to IAS 23, the purchase cost of property, plant and equipment can also include borrowing costs if they can
be directly associated to the purchase, construction or production of an asset in the course of construction. If the
Company or Group agrees on a general borrowing which cannot be directly associated with the purchase of an
asset in the course of construction, it will capitalise a proportionate share of costs calculated using the weighted
annual interest rate, but solely for major investments (value and construction period exceeding EUR 1 million and
12 months, respectively). Investments with durations of several years that witnessed no inputs in the reporting
period (halted investments) are excluded from the method of capitalising interest.
Borrowing costs are capitalised until the asset is in the course of construction. When the asset is transferred to
use, borrowing costs are no longer capitalised. The amount of borrowing costs capitalised in the period must not
exceed borrowing costs, which arise in the same period.
32.1.2.2 Employee benefit costs and fees arising directly from construction or acquisition
The Company/Group also includes in the cost of property, plant and equipment the cost of the workforce directly
related to the making of the investment when the investment is significant (for the controlling company, if the value
of the investment exceeds EUR 1 million and the construction period exceeds 12 months, or for subsidiaries and
270 Annual report 2023 Summary of significant information on accounting policies
associates, if the value of the investment exceeds 3 percent of the total tangible fixed assets and the construction
period exceeds 12 months).
Labour costs are capitalised while the asset is in preparation. When the asset is transferred to use, labour costs
are no longer capitalised.
32.1.2.3 Subsequent expenditure
Parts of certain items of property, plant and equipment may require replacement at regular intervals. An asset can
also be obtained for occasional replacements, such as replacing partitions in a building, or for one-off
replacements. The carrying amount of the parts that are replaced is no longer recognized.
Replacements of items of property, plant and equipment and major overhauls are accounted for as investments
and are depreciated over their estimated useful lives, which are expected to be longer than one accounting period
and in most cases differ from the useful life of the main asset.
Replacement parts of greater value are treated as devices or equipment, which are depreciated irrespective of their
entry into service. However, replacement parts used in a single asset are depreciated over the useful life of that
asset.
With each replacement of a part of an asset or before a major overhaul, the Company/Group separately shows the
new purchase value of a part of the property, plant or equipment and derecognizes any remaining carrying amount
of the replaced part. The cost of the asset is reduced, and proportionately the valuation allowance accrued to date,
with the difference recognised as an expense in impairment, write-downs and losses on sales of property, plant
and equipment and investment property.
32.1.2.4 Depreciation
In each period, depreciation charge is recognised in the income statement.
An asset is subject to depreciation on the day when it is made available for use.
The items of property, plant and equipment are depreciated under the straight-line method of depreciation,
considering the assessed economic life of an individual asset. When acquiring assets that are divided into parts,
the initially recognised amount is distributed among its more important parts and each part is depreciated
separately. Replacement parts of greater value are treated as devices or equipment, which are depreciated
irrespective of their entry into service. However, replacement parts used in a single asset are depreciated over the
useful life of that asset. The objective of dividing an asset into parts is reflected in the economic benefits.
The depreciation method used is reassessed at the end of each financial year.
Land, assets in acquisition, non-current assets classified to disposal groups (held for sale) and works of art are not
depreciated.
Useful lives applied with property, plant and equipment are as follows:
Assets
2023
2022
Construction works
16.67−66.67 years
16.67−66.67 years
Transport and transhipment equipment
5–25 years
5–25 years
- locomotives
6.67−15 years
6.67−15 years
- forklifts, shippers
8–12 years
8–12 years
Computer hardware
4–5 years
4–5 years
Other equipment
4–12 years
4–12 years
32.1.2.5 Derecognition
The carrying amount of an individual item of property, plant and equipment is derecognised upon its disposal or
when no future economic benefits are expected from the asset’s use or disposal. Any profits or losses resulting
from disposal of individual item of property, plant and equipment are determined as the differences between the
revenue from disposal and the carrying amount and are included in profit or loss.
32.1.2.6 Rights to use assets
The Company/Group discloses leases under the rights to use assets in compliance with the new IFRS 16 standard.
The scope of application of IFRS 16 comprises leases of all assets with a few exceptions. Pursuant to the Standard,
lessees should recognise all leases through the statement of financial position under a single lessee accounting
model without making a distinction between an operating or a finance lease. The Standard allows two exemptions
in recognising assets, i.e., when the underlying asset is of low value (such as personal computers) and for short-
Summary of significant information on accounting policies Annual report 2023 271
term leases (leases with a term of less than 12 months). As at the date of the beginning of lease, the lessee is
required to recognise the obligation to make lease payments (i.e. a lease liability) and the asset representing the
right to use the underlying leased asset for the duration of the lease (i.e. a right-of-use asset).
32.1.3 Investment property
Investment property is held by the Company/Group to bring rent and/or increase the value of the non-current
investment. Investment property is measured by the Company/Group under the cost model. Depreciation is
accounted for under the straight line depreciation method based on the estimated useful life of each asset or its
components. Land is not depreciated. Facilities under lease are divided into individual parts according to their
estimated useful lives. The following depreciation rates are used for investment property:
Investment property
2023
2023
Buildings
16.67−66.67 years
16.67−66.67 years
32.1.4 Intangible assets
Initially, intangible assets are recognised at cost. After initial recognition, they are recognised at their cost reduced
by accumulated amortisation and accumulated impairment losses.
32.1.4.1 Depreciation
Depreciation begins when an asset is ready for its use, i.e. when the asset is on the location and in the condition
necessary for it to operate as intended.
The carrying amount of an item of intangible assets with final useful life is reduced using the straight-line
amortisation method over the period of its useful life. All intangible assets have finite useful lives.
The depreciation period and depreciation method for an intangible asset with finite useful life are reviewed at least
at each financial year-end. If the asset's expected useful life differs significantly from previous estimates, the
depreciation period is adjusted accordingly.
The useful life of an item of intangible assets that arises from contractual or other legal rights does not exceed the
period of these contractual rights or legal rights, however, it may be shorter, depending on the period during which
the asset is expected to be used. The assessed useful life of other items of intangible assets is 10 years (the applied
useful lives are presented in the table below).
Intangible assets
2023
2022
Non-current property rights
3–10 years
3–10 years
Development costs
10 years
10 years
32.1.5 Investments in related entities
Investments in subsidiaries, associates and other companies are measured at cost. The Group only discloses
investments in associated companies, which are recognised using the equity method. On each date of the statement
of financial position, the Company/Group assesses whether there is any indication of impairment. Any impairment
loss on investment is recognised in the income statement.
32.1.6 Financial assets
Financial instruments are classified into the following categories:
1 Financial instruments measured at amortised cost,
2 Financial instruments measured at fair value through other comprehensive income, and
3 Financial instruments measured at fair value through profit or loss.
The Company classifies quoted shares as financial assets measured at fair value through other comprehensive
income. Upon initial recognition, financial assets are measured at fair value, with the exception of trade receivables
that do not have a significant financing component (as determined in accordance with IFRS 15) and are measured
at transaction price (as defined in IFRS 15). In the case of a financial asset measured at fair value through profit or
loss, the Company/Group adds or deducts transaction costs directly attributable to the acquisition or issuance of
the financial asset. Fair value is considered market value based on the closing price of a security on a stock
exchange. Fair value changes are recognised by the Company/Group in other comprehensive income within equity.
Upon derecognition, the Company/Group recognises gains or losses through retained earnings. Additions and
disposals are recognised as at the trading date.
272 Annual report 2023 Summary of significant information on accounting policies
Investments in other shares and securities, with regard to which there is no active market, and investments in
mutual funds for which the daily value of the unit of the mutual fund is published, are classified by the
Company/Group as assets measured at fair value through profit or loss.
32.1.7 Other assets
Other assets include advances for acquiring property, plant and equipment. All advances given are secured by bank
guarantees provided to the Company/Group by the supplier.
32.1.8 Loans, deposits, treasury bills and receivables
Loans, deposits, treasury bills and receivables are recognised by the Company/Group as at the settlement date and
measured at amortised cost. Interest income, impairment gains or losses and foreign exchange gains or losses are
recognised in profit or loss. Derecognition is also recorded in profit or loss.
32.1.8.1 Trade receivables
In books of account, the Company/Group carries non-current and current receivables separately. Default interest
arising on stated receivables is recorded among off-balance sheet items. Upon recognition, non-current and
current trade receivables are disclosed at contractually agreed amounts or as recorded in the relevant accounting
documents. Receivables where recovery procedures have been initiated or where debtors are in one of the
insolvency procedures are transferred by the Company/Group to bad and doubtful receivables. Other operating
receivables and other assets include short-term deferred costs or expenses and accrued income.
Allowances for trade receivables
The Company/Group forms revaluation allowances for all past due trade receivables and based on age structure
and individual assessment. Allowances for receivables due from companies in a bankruptcy or liquidation
procedure are formed immediately once such proceeding begins, in their full amount (100 percent). In accordance
with the IFRS 9 which introduced new requirements for the measurement of financial assets and recognition of
their impairment, the Company/Group has formed an impairment model for trade receivables based not only on
realised credit losses, but also on expected credit losses. The Company/Group also forms allowances for
receivables resulting from non-maturity receivables on the basis of risk assessment. Assessment of risk is
composed of the customer’s credit rating which is formed by the Company/Group based on own criteria, and also
results from the customer’s country of origin. The Company/Group shall review the buyer risk assessment criteria
on an annual basis and no later than before the end of the financial year. Claims for which it is not possible or
rational to obtain a risk assessment are classified as medium risk.
Impairment losses are charged to other operating expenses associated with receivables.
32.1.9 Cash
Cash and cash equivalents include cash (cash in hand), book money (cash balances in accounts with banks or other
financial institutions), cash in transit (money transferred from cash in hand to an account with a bank) and cash
equivalents, which include short-term deposits and deposits with banks with a maturity of three months or less
after acquisition.
The key factors in determining whether an investment is a cash equivalent under IAS 7 are maturity and purpose.
The purpose of cash equivalents is to settle short-term cash liabilities, not to establish investments or increase
financial income. To qualify as a cash equivalent, an investment must be readily convertible into a known amount
of cash and the risk of changes in its value must be insignificant.
The Company/Group reports cash in foreign currencies separately in bank accounts. Foreign currency cash
balances are converted into the domestic currency at the European Central Bank's reference rate on the reporting
date.
32.1.10 Inventories
Inventories are measured by the Company/Group at cost or net market value, whichever is lower. An item of the
materials inventory is measured at cost, which comprises the purchase price, import duties and other non-
refundable purchase taxes, and direct costs of purchase. Non-refundable purchase taxes also include non-
refundable VAT. The purchase price is reduced by trade discounts. The Company/Group applies the weighted
average price method for reducing the materials inventory. Small tools put in use are immediately transferred
among costs. Inventories are not subject to revaluation due to increases.
Summary of significant information on accounting policies Annual report 2023 273
32.1.11 Equity
32.1.11.1 Share capital
The share capital of the Company/Group in the amount of EUR 58,420,965 consists of 14,000,000 ordinary no-par
value shares that are freely transferable. As at 31 December 2023, the nominal value of a share was EUR 4.17.
32.1.11.2 Capital surplus (share premium) and revenue reserves
The Company/Group records legal reserves in the amount of at least 10% of share capital as required by the
Companies Act (ZGD-1). Legal reserves and share premium are not included in the accumulated profit and are not
subject to distribution. The Company/Group has no statutory reserves, as they are not envisaged under its articles
of association.
32.1.11.3 Reserves arising from valuation at fair value
Reserves arising on valuation at fair value comprise reserves arising from valuation of investments measured at
fair value and with respect to unrealised actuarial gains and losses.
32.1.11.4 Retained earnings
Retained earnings consist of all accumulated undistributed net profits of previous years and the unappropriated
portion of the net profit for the period.
32.1.11.5 Dividends
Dividends are recognised in the controlling company’s financial statements once the decision on the distribution of
dividends is adopted by the general meeting.
32.1.11.6 Authorised capital
At 31 December 2023, the Company/Group had no authorised capital.
32.1.12 Provisions
32.1.12.1 Provisions for legal disputes and damages
The Company/Group forms provisions for disputes and damages related to alleged business offences. Provisions
are formed and their amount determined in consideration of the following criteria:
• Whether a present obligation (legal or constructive) exists as a result of past events,
• Probability that an outflow of resources will be required to settle an obligation (legal dispute) – the
provision is recognised if the probability is high,
• A reliable estimate can be made of the amount of the obligation.
32.1.12.2 Provisions for severance pays and long-service awards
In accordance with statutory requirements and the collective agreement, the Company/Group is obligated to pay
jubilee premiums and termination benefits on retirement. To measure these payments, the Company/Group applies
valuation of actuarial liability on the basis of expected salary growth from the valuation date until the employee’s
anticipated retirement. This means that benefits are accrued in proportion to the work performed. The assessed
liability is recognised as the present value of expected future expenditure. Anticipated salary growth and employee
turnover are also considered as part of measurement.
Actuarial gains or losses for termination benefits in the current year are recognised in other comprehensive income
under equity based on an actuarial calculation, whereas current employee benefits and interest expenditure are
recognised in profit or loss. Current employee benefit costs and interest expenditure as well as actuarial gains or
losses are recognised in profit or loss for jubilee premiums.
The calculation of provisions for retirement benefits and jubilee premiums is based on the actuarial calculation as
at 31 December 2023, which took into account the following assumptions:
• Currently applicable amount of termination benefits and jubilee premiums.
• Mortality rate that is based on mortality tables from 2007 applicable to Slovenia and presented separately
for men and women, decreased by 10% (active population). As at 31 December 2023, this means an overall
0.3% to 0.6% death rate for employees in the next financial year (according to the number of employees).
• Staff fluctuation, declining on a straight-line basis from 2.0% at 18 years to 0.0% at 58 years, thereupon
remaining constant at 0.0%. In total, this indicates an annual fluctuation between 0.5% and 0.8% for next
274 Annual report 2023 Summary of significant information on accounting policies
year as at 31 December 2023. Staff fluctuation as a result of an increased number of dismissals by the
employer has not been taken into account.
• Foreseen retirement of individual employees has been taken into account based on data on employee
gender, date of birth and length of service as at 31 December 2023 pursuant to Article 27 and 3rd indent
of Article 28 Paragraph 1 of Pension and Disability Insurance Act (ZPIZ-2).
• For the 2024 and 2025 calculations, we used average salary increase rates for the Republic of Slovenia as
outlined in the Autumn Forecast of the Institute of Macroeconomic Analysis and Development published
in September 2023. As of 2026, average salaries in Slovenia are expected to increase annually due to
inflation (IMF, October 2023) and by 1.4% due to real growth. The calculation of the average gross salary
in the Republic of Slovenia is based on the average gross salary from November 2022 to October 2023,
increased by growth using actuarial assumptions on the nominal growth rate of average gross salaries in
the Republic of Slovenia. For the calculation of average salaries for the last 12 months, converted to a
monthly basis, the data published by the Statistical Office of the Republic of Slovenia for 2022 is taken into
account.
• The increase in basic salaries is taken into account at the rate of annual inflation plus real growth of 0.4%,
but no more than the projected average salary growth in the Republic of Slovenia. The following is also
taken into account: increase in gross basic salaries due to promotion of 0.5% per annum, and a bonus for
total years of service at 0.5% of the basic salary for each full year of service. In the case of two individual
contracts in the controlling company and three individual contracts in subsidiaries, no length-of-service
bonus is considered. Accordingly, the nominal monthly salary growth rate – in view of inflation and actual
growth – would be 4.3% next year, 3.1% in 2025, 2.8% in 2026, and 2.4% from 2027 onwards.
• The discount rate for the calculation as at 31 December 2023 is set at 3.2% reflecting the yield of high-
quality corporate bonds (AA rating) as at 29 December 2023 denominated in EUR, and by interpolation with
respect to the average weighted duration of the Company/Group’s commitments (according to the
calculated amount of pre-discount commitments) from the balance sheet date to payments by individual
type of earnings (13.9 - 14.0 years).
32.1.13 Non-current deferred income
The controlling company forms non-current deferred income for the cost of the public utility service of routine
maintenance of the port public infrastructure in an amount equal to the excess of port dues revenue over the cost
of the public utility service. In the event of costs exceeding revenues from port dues, non-current deferred income
is derecognised in the amount of the surplus.
In the subsidiary Luka Koper INPO, d. o. o., non-current accrued liabilities include donations received and social
security contributions assigned, which are subject to earmarked spending, namely for investments in fixed assets
and to cover costs related to the employment of disabled people. Non-current accrued liabilities are transferred to
revenue to the extent of the identified specifically used costs or expenses.
32.1.14 Government grants
All kinds of government grants are initially recognised in the statement of financial position as deferred income
when there is assurance that the Company/Group will receive such grants and meet the related terms. Government
grants to cover costs are consistently recognised in profit or loss in the periods when the relevant costs that these
revenues are supposed to cover are incurred.
32.1.15 Concession-related activity
In compliance with the Maritime Code, Luka Koper, d. d. and the Government of the Republic of Slovenia regulated
their relations in the port of Koper in September 2008 by entering into a Concession Agreement within the Decree
on the Administration of the Freight Port of Koper, Port Operations, and on Granting the Concession for the
Administration, Management, Development and Regular Maintenance of its Infrastructure, and defined the
concession relationship for the period of 35 years from the date of concluding the Agreement.
Pursuant to provisions of the Concession Agreement and the Transparency of Financial Relations and Maintenance
of Separate Accounts for Different Activities Act (ZPFOLERD-1), the concession operator is required to keep their
books of account in a way that provides for separate financial monitoring of the activity, which is carried out on the
basis of exclusive rights granted.
In its books of account, Luka Koper, d. d. keeps separate records of income from port tax in an individual year and
of costs of performing concessions activities. Any income surplus generated through port duties over maintenance
costs relating to port infrastructure, is kept by the concession provider as short-term deferred income for costs of
Summary of significant information on accounting policies Annual report 2023 275
maintaining the port infrastructure in the coming years as required by Article 9.3. of the Concession Agreement.
Financial monitoring of the public service is based on policies and principles of cost accounting and criteria of
separate bookkeeping.
In accordance with the Concession Agreement concluded with the Republic of Slovenia and the criteria approved
by the latter, Luka Koper, d. d. forms non-current deferred income for routine maintenance of port infrastructure
in the amount equal to the surplus of income from port dues over the related costs of the public service. In the
event of costs exceeding revenues from port dues, non-current deferred income is derecognised in the amount of
the surplus.
Luka Koper, d. d., as the concession operator, obtained from the Republic of Slovenia, as the concession provider,
the exclusive right for performing port activities of cargo handling and maritime passenger transport in the port
area, and the related exclusive right for port administration and management, and for the administration and
development of port infrastructure not intended for public transport, and pursuant to Article 44 of the Maritime
Code, also the exclusive right to perform public utility service of regular maintenance of the port infrastructure that
is intended for public transport.
Furthermore, pursuant to Article 7.9.6. of the Concession Agreement, Luka Koper, d. d., keeps records on
investments made in port infrastructure in each financial year. Luka Koper, d. d., is required to indicate investments
in each individual year in a special appendix to the annual report, which is to be examined and approved by a certified
auditor.
In accordance with Article 10.1. of the Concession Agreement, Luka Koper, d. d., pays a concession tax, which
amounts to 3.5% of the annual revenue generated less port dues collected in the relevant year. The basis for levying
the concession tax is the audited income statement of Luka Koper, d. d. The annual concession tax amount is paid
in monthly instalments of advance payments calculated not later than by 30 July of the current year on the basis of
audited data for the previous calendar year. Port dues account for 3 percent of the controlling company’s operating
income and are a constituent part thereof. The amount of port dues is defined by the controlling company Luka
Koper, d. d. in agreement with the government. The remaining 97 percent of the controlling company's operating
income is generated through rendering of services of cargo handling and warehousing, whose fees and prices are
formed on the basis of market regularities. The development and overhaul of the port infrastructure is carried out
by the controlling company in its own capacity and for its own account. Upon the concession’s expiry, the concession
operator is entitled to the refund of unamortised part of investments. Given the above-mentioned provisions of the
Concession Agreement, the Group shall not apply IFRIC 12.
Upon termination of the concession relationship, the grantor of concession is obliged to reimburse to Luka Koper,
d. d. the funds invested in the development of port infrastructure in the amount of the audited as yet unamortised
part of the value of investments in concession installations, equipment and facilities, provided that the investments
were made with the prior written consent of the grantor of concession.
In accordance with the applicable concession contract, the grantor shall start the process of preparation for a new
public tender for the selection of the concession holder at least two years before the expiry of this concession. In
the event that Luka Koper d. d. is re-selected as the concession holder, it will be exempt from paying the part of
the concession fee that is paid upon signing the new concession contract, thus terminating its right to
reimbursement of the unamortised part of the investment value.
32.1.16 Public utility services of collecting waste from vessels in the Koper port area
The public utility service of collecting waste from vessels in the Koper port area is being performed in line with the
Decree on the method, subject and conditions for the provision of national public utility service of collecting waste
from vessels (Official Gazette of the Republic of Slovenia, No. 59/2005), and the Decree on port reception facilities
for ship-generated waste and cargo residues (Official Gazette of the Republic of Slovenia, No. 78/2008). These
services comprise regular reception of ship-generated waste and cargo residues, installation of port facilities for
reception of ship-generated waste and cargo residues in accordance with regulations governing port reception
facilities, receipt of messages about intended delivery of ship-generated waste and cargo residues, separate
collection, sorting and storage of accepted waste and cargo residues by using port reception facilities, delivery for
processing with a view of re-use, recycling or disposal of processing residues in accordance with environmental
protection regulations governing waste management, and informing the public and users about the manner of
delivering waste and cargo residues. For purposes of reports within the public utility service of collecting waste
from vessels, Luka Koper, d. d., based on provisions of the Transparency of Financial Relations and Maintenance
of Separate Accounts for Different Activities Act has taken into account the principles of cost accounting and criteria
of separate bookkeeping.
Until 31 December 2016, Luka Koper, d. d., was performing the public utility service of collecting waste from vessels
through its subsidiary Luka Koper INPO, d. o. o., which acted as its performance assistant. The two companies had
276 Annual report 2023 Summary of significant information on accounting policies
an agreement of cooperation between them. Luka Koper INPO, d. o. o., is fully controlled by Luka Koper, d. d., and
the companies are considered to form a single economic unit based on the settled case law of the European Court
of Justice. As at 1 January 2017, the companies signed an annex to the agreement stipulating, among others, that
as at 1 January 2017, Luka Koper INPO, d. o. o., as the performance assistant shall perform the public utility service
of collecting waste from vessels in the Koper port area in the name and for the account of Luka Koper, d. d.
32.1.17 Financial liabilities
On initial recognition, the Company/Group records borrowings at fair value and thereupon at amortised cost using
the effective interest rate method. In terms of maturity, borrowings are classified into non-current and current
financial liabilities. On the last day of the year, all financial liabilities maturing in the next year are reclassified to
current financial liabilities. Borrowings are insured with bills of exchange and certain loan covenants.
32.1.18 Operating liabilities
Under non-current operating liabilities, the Company/Group recognises collaterals received for rented business
premises and retained guarantee payments. Current trade payables and current payables to the state and
employees are shown separately under current liabilities. Other Company’s/Group’s operating liabilities include
short-term deferred income and short-term accrued costs or expenses.
32.1.19 Income tax
Income tax is accounted for by the Company/Group in compliance with provisions of the Corporate Income Tax Act.
The basis for the income tax calculation is the gross profit increased by the amount of non-deductible expenditure
and reduced by the amount of statutory tax relief. Such basis is used for accounting the corporate income tax
liability. As for 2023, income tax liability was calculated at the rate of 19 percent.
32.1.20 Deferred taxes
In order to disclose an appropriate profit and loss for the reporting period, the Company/Group also accounts for
deferred taxes. These are disclosed as deferred tax assets and deferred tax liabilities. In accounting for deferred
taxes, the balance sheet liability method is applied. The book value of assets and liabilities is compared with their
tax value, and the difference between both is defined as either permanent or temporary.
Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that
sufficient taxable profit will be available against which the deductible temporary differences can be utilised. They
are calculated at the tax rates expected to apply in the period when the claim is recovered.
Deferred tax liabilities are recognised for all taxable temporary differences calculated at tax rates that are expected
to apply in the period when the liability is settled.
Deferred tax assets are offset against deferred tax liabilities if a legally enforceable right exists to offset current
tax assets against current corporate income tax liabilities and the deferred taxes involve the same taxable legal
entity and the same tax authority.
32.1.21 Net earnings per share
The basic and diluted earnings per share were calculated by dividing the net profit for the period with the weighted
average number of ordinary shares in issue.
32.1.22 Revenue
32.1.22.1 Operating income
Revenue from contracts with customers
The Company’s/Group’s core business is cargo handling and warehousing of all types of goods, goods-related
services, and other related services. The respective services are all carried out in Slovenia, for both local as well
as foreign customers. Foreign customers come from European markets, which are considered most significant for
the Company/Group, as well as from Asia and America. The customers include the world’s largest shipping
companies, major international corporations, end-users of our services, and other major and smaller domestic and
foreign companies that deem the port of Koper as the provider of the fastest and highest quality logistics service.
The Company/Group discloses its operating income in accordance with IFRS 15. The Company/Group has
recognised all active contracts concluded with foreign entities and judged them using the five steps required by the
standard. An analysis of contracts with customers has shown that they all meet the criteria of the new standard for
revenue recognition; performance obligations are defined adequately in contracts, allowing their classification and
measurement, and determining when they might be satisfied. The majority of revenue results from contracts
Summary of significant information on accounting policies Annual report 2023 277
defined as simple supply of services. Since the contracts include no separate performance obligations, the
Company/Group deems its valid accounting policy for recognition of revenue to be in line with requirements of IFRS
15.
The prices in the Company/Group are set at fixed or variable rates. Variable rates occur when the Company/Group
offers a volume discount. Volume discounts are achieved based on agreed transhipment volumes.
In recognizing income from services rendered, the Company/Group uses the stage of completion method as at the
date of the statement of financial position, as this is when the condition of transfer of control of a good/service is
met. The Company/Group can do so as its performance does not create an asset with an alternative use to the
company and the Company/Group has an enforceable right to payment for performance completed to date. Under
the method, income is recognised in the accounting period in which the services are rendered. The Company/Group
does not sell its services with maturities of more than one year, therefore it does not recognize income and
expenses from financing. The amount of each significant category of revenue recognised in the accounting period
is disclosed, as well as revenue generated in connection with domestic and foreign customers.
32.1.22.2 Rental income
Rental income primarily comprises income from investment property, i.e. income generated from facilities and
land that are leased out under operating lease. Rental income is recognised by the Company/Group within operating
income.
32.1.22.3 Other income
Other operating income comprises operating income from the sale of property, plant and equipment, subsidies,
donations, insurance proceeds and other income. Government grants and other subsidies primarily refer to funds
received for development activities within the European development projects that aim to increase the port’s
competitiveness, energy efficiency, environmental safety, and ensure efficient port processes. Subsidies received
to cover the costs incurred are recognised strictly as income in the periods when the relevant costs that this income
is supposed to cover are incurred.
Income from utilising retained salary contributions is recognised in compliance with the Vocational Rehabilitation
and Employment of Disabled Persons Act in the amount of eligibly used funds.
Other income is recognised when it can be justifiably expected that cash receipts will flow from them.
32.1.23 Finance income and finance expenses
Finance income comprises interest income from loans, deposits, treasury bills, default interest on late payment of
services and receivables, dividend income, income from disposal of available-for-sale financial assets, and foreign
exchange gains. Interest income is recognised when accrued using the effective interest method. Dividend income
is recognised in profit or loss when a shareholder’s right to payment is established.
Finance expenses comprise interest costs on borrowings, interest on leases as derived from the standard IFRS 16,
foreign exchange losses and impairment losses on financial assets recognised through profit or loss. Costs of
borrowings and approval of these are recognised in the profit or loss over the entire maturity of the borrowings.
32.1.24 Costs as expenses
Costs are recognised as expenses in the accounting period in which they are incurred. They are classified according
to their nature. Costs are carried and disclosed by types. Expenses are recognised if decreases in economic benefits
during the accounting period are associated with decreases in assets or increases in liabilities, and those decreases
can be measured reliably.
32.1.25 Statement of other comprehensive income
The statement of other comprehensive income outlines the net profit or loss for the period as well as other
comprehensive income. Other comprehensive income includes items of income and expense that are not
recognised in profit or loss but affect equity.
32.1.26 Statement of Cash Flows
The statement of cash flows is presented by applying the indirect method, on the basis of items reported in the
statement of financial position as at 31 December 2023 and 31 December 2022, as well as items in the 2023 income
statement, inclusive of any necessary adjustments of the cash flow.
32.1.27 Statement of changes in equity
The statement of changes in equity outlines changes in individual equity components during the financial year (total
income and expenses, in addition to transactions with stakeholders that act as owners), inclusive of the net profit
278 Annual report 2023 Summary of significant information on accounting policies
or loss distribution. The statement of other comprehensive income is also included, increasing net profit of the
accounting period by total revenue and expenses directly recognised in the equity.
32.1.28 Risk management
The Company/Group monitors and strives to manage risks at all levels of business. In the assessment of risks,
various risk factors are considered. Efficient risk management is ensured by timely identification and management
of risks and by relevant guidelines and policies, which are laid down in documents of the overall management
system.
Operations of the Company/Group are exposed to strategic, operational and financial risks, which largely depend
on market laws and thereby require active and ongoing monitoring. Procedures for risk identification are described
in the business report, Chapter 14 ‘Managing risks and opportunities’. In addition to strategic and operational risks,
the Company/Group also faces financial risks, of which the most significant ones include the fair value risk, interest
rate risk, liquidity risk, currency risk and credit risk, as well as the risk of adequate capital composition. How
financial risks are identified and managed within the Company/Group is disclosed in Note 32 ‘Financial instruments
and financial risk management’.
32.1.28.1 Fair value
Fair value is used with financial assets measured at fair value. All other financial statement items are presented at
cost or amortised cost.
In measuring the fair value of a non-financial asset, the Company/Group must take into account the market
participant’s ability to generate economic benefits by using the asset at its highest and best use or by selling it to
another market participant that would use the asset at its highest and best use.
The Company/Group uses valuation techniques that are appropriate under the given circumstances and for which
there is enough data available, mainly based on the use of appropriate market inputs and the minimum use of non-
market inputs.
All assets and liabilities that are measured or disclosed at fair value in the financial statements are classified into
a fair value hierarchy based on the lowest level of inputs required for measuring the total fair value:
1. Level 1 – quoted prices (unadjusted) in active markets for similar assets and liabilities,
2. Level 2 – valuation model based directly or indirectly on market data,
3. Level 3 – valuation model not based on market data.
At the end of each reporting period, the Company/Group determines whether any transitions between levels
occurred in the case of assets and liabilities recognised in the financial statements for previous periods by re-
examining the distribution of assets, taking into account the lowest level of inputs required for measuring the total
fair value.
The fair value measurement hierarchy of the Company’s/Group’s assets and liabilities is presented in Note 32:
‘Financial instruments and financial risk management’.
32.1.29 Basis for consolidation
Consolidated financial statements are the combined financial statements of the controlling company and its
subsidiaries.
32.1.29.1 Subsidiaries
Subsidiaries are entities controlled, directly or indirectly, by the parent or controlling company. Control exists when
the investor is exposed to or entitled to a variable return or has rights to a variable return in the company into which
he invests, has the ability to influence financial and business decisions, and there is a link between influence and
return. An assessment of control is made at the time of acquisition of the investment and on the basis of the
perception of changed facts and circumstances of control.
The financial statements of subsidiaries are included in the consolidated financial statements from the date that
control commences until the date that control ceases.
32.1.29.2 Associates
Associates are those entities in which the Group has significant influence but not control over the financial and
operating policies. Investments in associates are initially recognised at cost and thereupon accounted for under the
equity method. The consolidated financial statements of the Luka Koper Group comprise the Group’s share and
profits and losses of jointly controlled entities, accounted for under the equity method upon the adjustment of
accounting policies from the date when significant influence begins until the date when it ends. If the Group’s share
Summary of significant information on accounting policies Annual report 2023 279
in the losses of associates exceeds its share, the book value of the Group’s share is reduced to zero, whereas the
share in further losses is no longer recognised.
32.1.29.3 Transactions eliminated on consolidation
Balances and any unrealised gains and losses or income and expenses arising from intragroup transactions are
eliminated in preparing the consolidated financial statements. Unrealised losses are eliminated in the same way
as unrealised gains, but only to the extent that there is evidence of impairment.
32.1.30 Newly adopted standards and interpretations
The standards and interpretations presented below were not yet effective until the date of financial statements or
have not yet been confirmed by the European Union. Relevant standards and interpretations will be applied upon
their entry into force by the Company/Group in preparing their financial statements.
Initial application of new standards or amendments to existing standards effective in the current financial
year
Amendments to existing standards issued by the International Accounting Standards Board (IASB) and adopted by
the EU that are effective for the current reporting period include:
• Disclosure of accounting policies (amendments to IAS 1 and IFRS Practice Statement 2): In February 2021,
the IASB issued amendments to IAS 1 that change the disclosure requirements related to accounting
policies from 'significant accounting policies' to 'material accounting policy information'. The
amendments provide guidance on when information about accounting policies is considered material.
Amendments to IAS 1 are effective for annual reporting periods beginning on or after 1 January 2023.
Earlier application is permitted. As IFRS Practice Statement documents are not mandatory, the effective
date of IFRS Practice Statement 2 is not specified.
• Definition of Accounting Estimates (Amendments to IAS 8): The amendments introduce the definition of
accounting estimates and other guidelines to help entities distinguish accounting estimates from
accounting policies. The amendments clarify that the effects of a change in an input or a measurement
technique used to develop an accounting estimate are changes in accounting estimates unless they result
from the correction of prior period errors.
• IFRS 17 – Insurance Contracts (New Standard) and Amendments to IFRS 17 Insurance Contracts: IFRS 17
replaces IFRS 4 Insurance Contracts. IFRS 17 applies to all types of insurance contracts (i.e. life, non-life,
direct insurance and reinsurance), regardless of the type of entities issuing them, and to certain
guarantees and financial instruments with discretionary participation features; some exceptions will
apply. The overall objective of IFRS 17 is to provide a comprehensive accounting model for insurance
contracts that is more useful and consistent for insurers and covers all relevant accounting aspects. IFRS
17 is based on a general model, supplemented by:
o modifications for contracts with direct participation features (variable fee approach); and
o simplified measurement approach (premium allocation approach), especially for short-term
contracts.
• Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12 –
Income taxes): In May 2021, the IASB issued Amendments to IAS 12. The amended standard clarifies
whether the initial recognition exemption applies to certain transactions that are recognized as both an
asset and a liability (such as a lease under IFRS 16 – Leases). The amendments introduce additional
criteria for the initial application of exemptions under IAS 12.15, with the exemption not being applied
when equal amounts of deductible and taxable temporary differences arise on initial recognition of assets
or liabilities.
• International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12): The amendments to IAS 12
were introduced in response to the OECD's BEPS Pillar Two rules and include:
o a mandatory temporary exemption from the recognition and disclosure of deferred taxes
related to the OECD pillar two model rules; and
o a disclosure requirement regarding the current tax expense (income) related to pillar two
income taxes.
The adoption of these new standards, amendments to valid standards and interpretations has not caused major
changes in the financial statements of the Company/Group.
Standards and amendments to existing standards issued by the IASB and adopted by the EU; not yet effective
New standards and amendments to existing standards issued by the IASB at the date of approval of these financial
statements and adopted by the EU but effective for the reporting period beginning on 1 January 2024 are:
• Amendments to IAS 1 – Presentation of Financial Statements:
280 Annual report 2023 Summary of significant information on accounting policies
a) Classification of Liabilities as Current or Non-current. The amendment requires that the entity's right
to defer settlement of the obligation for at least 12 months from the reporting date must be substantive
and must exist at the end of the reporting period. The classification of liabilities is unaffected by the
probability that the company will exercise its right to defer the liability for at least 12 months after the
reporting date. The standard was subsequently revised again.
b) Non-current liabilities with covenants. If an company’s right to defer settlement depends on the
company complying with certain conditions, those conditions affect whether the right to defer existed
at the end of the reporting period if the entity is required to comply with covenants at or before the
end of the reporting period and not if the company is required to comply after the end of the reporting
period. The amendment also clarifies the term "settlement" for the purpose of classifying liabilities
as current or non-current.
• Amendments to IFRS 16 – Leases: Lease Liability in a Sale and Leaseback. The amendment contains a
requirement for the seller-lessee to determine the 'rental payment' or 'modified rental payment' in a way
that it does not recognise any amount of the gain or loss that relates to the right of use it retains.
The adoption of the new standards, amendments to existing ones, and interpretations will not have a major effect
on the financial statements of the Company/Group.
New standards and amendments to existing standards issued by the IASB and adopted by the EU
Currently, IFRS as adopted by the EU do not differ significantly from the rules adopted by the International
Accounting Standards Board (IASB), with the exception of the following new standards and amendments to existing
standards that are effective for the reporting periods beginning on 1 January 2024 and 1 January 2025, respectively,
and have not yet been adopted by the EU:
• Amendment to IAS 7 – Statement of Cash Flows and IFRS 7 – Financial Instruments: Disclosures
(Amendments). On 25 May 2023, the IASB issued Supplier Finance Arrangements, which amends IAS 7
Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures (Amendments). These
amendments arose as a result of a submission received by the IFRS Interpretations Committee (the
Committee) on the requirements for the disclosure of liabilities and related cash flows arising from
supplier financing arrangements and related disclosures. In December 2020, the Board published the
agenda decision Supply Chain Financing Arrangements - Reverse Factoring, which addressed the
submission based on the IFRS accounting standard requirements in force at that time. During this
process, stakeholder feedback highlighted the limitations of the effective requirements to address the
important user information needs that would enable them to understand the effects of financial
arrangements with suppliers on an entity's financial statements and to compare one entity with another.
In response to this feedback, the IASB has undertaken to implement a narrow range of standards, which
has led to amendments. The amendments require entities to provide certain specific disclosures
(qualitative and quantitative) in relation to supplier finance arrangements. The amendments also provide
guidance on the characteristics of supplier finance arrangements.
• Amendment to IAS 21 - The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability.
The Company/Group assumes that the adoption of the new standards and amendments to existing ones will not
have a major effect on its financial statements over the initial period of use.
32.1.31 Disclosure of environmental information
In 2023, the Company/Group acted in accordance with the adopted 2020-2025 Strategic Business Plan, the strategic
direction of environmental development and the strategy of sustainable development and social responsibility. At
the end of 2023, a new strategy for the period 2024 - 2028 was adopted, which took into account the principles of
sustainable development and responsible environmental management, with sustainable development being one of
the key strategic orientations of the Luka Koper Company/Group. Being aware that the port is an important
sustainable development stakeholder whose impacts on the environment and society may be both positive and
negative, the Luka Koper Company/Group has decided to accede to achieving the global sustainable development
goals in the context of comprehensive sustainability reporting. Sustainable Development Goals (SDG) have been
adopted by all United Nations member states, their purpose being to pursue the development of the entire society,
economy, science and civil society - which will play an important role in attaining the key objectives of the society
as a whole by 2030.
The most important strategic orientations are:
- Replacement of existing fossil-fuelled port machinery and plant with alternative, more environmentally
friendly machinery and plant;
- Construction of an onshore power supply (OPS) system;
- Construction of solar power plants (up to 10 MW).
Summary of significant information on accounting policies Annual report 2023 281
Below, the Company/Group discloses explanatory notes relating to the Company/Group's environmental
sustainability information:
Type of environmental information
Note
Note heading
Sustainable maintenance
5
Cost of services
Noise emissions
8
Other expenses
Sustainable investments
12
Property, plant and equipment
282 Annual report 2023 Additional Notes to the Income Statement
33 Additional Notes to the Income
Statement
Note 1. Net sales revenue
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Net revenue from sales to domestic customers based
on contracts with customers
99,442,205
96,070,727
102,751,684
99,146,628
- services
99,356,444
95,871,210
102,665,923
98,947,111
- goods and material
85,761
199,517
85,761
199,517
Net revenue from sales to foreign customers based
on contracts with customers
200,293,726
206,177,480
200,998,481
206,906,522
- services
200,293,726
206,177,480
200,998,481
206,906,522
Net revenue from contracts with customers
299,735,931
302,248,207
303,750,165
306,053,150
Revenue from collected port dues
7,430,613
5,924,861
7,430,613
5,924,861
Net revenue generated on sales from rentals
2,117,679
2,023,612
1,591,711
1,484,625
Total
309,284,223
310,196,680
312,772,489
313,462,636
Net sales revenue in 2023 is at the level of the previous year. Within net revenue, higher revenues were achieved
from container and car transhipment, higher volume of loading and unloading of containers, higher volume of other
additional services on goods and higher prices for services, while lower revenues were achieved from warehousing
fees.
In 2023, in the Company and in the Group, the item of total net revenue comprises two individual customers that
exceed 10 percent of total sales, which is at the same level as in the preceding year.
Note 2. Capitalised own products and services
The Company's capitalised own products and services amounted to EUR 91,388 in 2023 (2022: EUR 77,600) and the
Group's capitalized own products and services amounted to EUR 95,639 in 2023 (2022: EUR 77,611). Under the item
of capitalised own products and own services, the Company and the Group record services that increase the value
of property, plant and equipment. The labour costs of employees related to investment projects of higher value and
accumulated over a long period of time are capitalised.
Note 3. Other income
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Reversal of provisions
1,657,785
2,975
1,657,785
2,975
Subsidies, grants and similar income
0
0
1,898,598
1,721,261
Income on sale of property, plant and equipment, and
investment property
164,108
675,055
198,956
821,416
Collected impaired receivables and written-off
liabilities
610,462
395,150
622,616
409,644
Compensations and damages
309,080
279,278
378,550
296,070
Subsidies and other income not related to services
1,240,867
696,355
1,240,867
696,355
Other revenue
58,456
289,725
71,134
317,894
Total
4,040,758
2,338,538
6,068,506
4,265,615
Additional Notes to the Income Statement Annual report 2023 283
The reversal of provisions relates to a change in the assessment of legal obligations.
Subsidies, grants and similar income recorded in the Group primarily relate to income from utilising retained salary
contributions in the amount of earmarked funds used in the subsidiary Luka Koper INPO, d. o. o.
Compensation and penalties received refer to compensation received due to loss events.
Among subsidies and other non-operating income, the Company/Group reports revenues from co-financed EU
projects, which were incurred either to cover costs or depreciation costs.
Note 4. Cost of material
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Costs of auxiliary material
2,518,473
2,373,081
2,667,707
2,478,382
Cost of spare parts
7,602,368
8,275,244
7,456,099
8,280,505
Costs of electricity
5,320,261
4,827,136
5,381,488
4,878,047
Costs of fuel
6,059,063
6,747,777
6,221,504
6,959,860
Other energy costs
87,603
125,906
89,811
128,519
Cost of office stationery
130,642
113,652
139,991
124,258
Other cost of material
428,656
334,102
454,001
354,992
Total
22,147,066
22,796,898
22,410,601
23,204,563
In the structure of material costs, the largest increase can be seen in electricity costs, mainly due to higher
consumption of electricity, while the largest decrease originates in lower costs of spare parts and lower fuel costs
due to lower consumption and lower average price of fuel.
Note 5. Cost of services
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Cost of port services
40,086,991
34,834,133
36,543,321
31,798,340
Cost of transportation
577,466
430,726
223,419
175,334
Cost of maintenance
11,047,917
7,287,790
10,947,762
7,096,165
Rentals
216,038
204,357
205,565
196,965
Reimbursement of labour-related costs
412,480
319,159
448,775
336,862
Costs of payment processing, bank charges and
insurance premiums
1,943,800
1,296,884
2,030,764
1,438,912
Costs of intellectual and personal services
1,617,153
1,162,338
1,680,402
1,257,531
Advertising, trade fairs and hospitality
1,484,750
1,258,125
1,502,662
1,278,686
Costs of services provided by individuals not
performing business activities
568,114
333,726
634,149
369,370
Sewage and disposal services
1,634,766
1,550,878
1,273,669
1,022,598
Information support
5,266,414
4,500,214
5,518,349
4,673,659
Concession-related costs
10,650,012
10,682,667
10,650,012
10,682,667
Transhipment fee
5,595,511
6,084,315
5,595,511
6,084,315
Cost of other services
4,121,330
4,370,700
2,612,691
2,918,274
Total
85,222,742
74,316,012
79,867,051
69,329,678
As in previous years, cost of port services account for the largest portion among cost of services. In the financial
year 2023, the Company discloses under costs of port services EUR 16,938,565 of costs for workers deployed
through agencies (2022: EUR 15,846,169) and EUR 14,554,428 of costs for services provided by external contractors
(2022: EUR 11,582,465). In 2023, the Group discloses EUR 17,262,077 of costs for workers deployed through
agencies (2022: EUR 15,993,365) and EUR 14,761,416 of costs for services provided by external contractors (2022:
284 Annual report 2023 Additional Notes to the Income Statement
EUR 11,952,588). The increased costs are due to a larger volume of services provided by agency workers and
external contractors.
The cost of maintenance services in the observed year is higher compared to 2022 due to the higher volume of
maintenance work and higher prices for services. Among the maintenance costs, the Company/Group also reports
environmentally sustainable investments of EUR 4,832,680 for the Company and EUR 4,780,521 for the Group, for
the maintenance of the infrastructure required for the operation of vessels or port activities with zero CO2
emissions, followed by the renewal of water collection, treatment and distribution systems and the energy
efficiency of buildings.
IT support costs are higher in 2023 compared to the previous year due to development activities and the
considerable cost of maintaining the new Edifact Centre 2 platform at the container terminal.
Concession costs remain at the previous year's level, while the company/group's transhipment fee is lower by EUR
488,804, mainly due to lower transhipment at the bulk and dry bulk cargoes terminal.
The costs of other services in the controlling company consist mainly of fumigation, security, toll collection, waste
collection, berthing and parking services. The latter are carried out by the subsidiary Luka Koper INPO, d. o.o. and
are therefore eliminated in consolidation.
Note 6. Cost of labour
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Wages and salaries
64,565,570
61,319,742
69,555,950
66,064,515
Salary compensations
11,081,620
8,586,719
12,034,376
9,396,336
Costs of additional pension insurance
2,859,722
2,565,962
3,126,277
2,808,165
Employer's contributions on employee benefits
12,529,356
11,577,922
13,485,424
12,479,435
Annual holiday pay, reimbursements and other costs
10,681,853
9,527,483
11,674,157
10,492,838
Total
101,718,121
93,577,828
109,876,184
101,241,289
In 2023, the average number of employees in the Company increased by 107 against the average in 2022, while the
average number of employees in the Group increased by 108 employees between the two compared years. The
increase in labour costs compared to the corresponding prior period was mainly due to new recruitments, higher
variable remuneration paid to employees as a result of the Company/Group performing above target and the
adjustment of salaries to the consumer price index.
In December 2023, employees of all companies in the Group except for board members and employees under
individual employment contracts received pay for performance. Some companies in the Group also paid out the
holiday bonus for the 2023 business year in December 2023 or January 2024.
For the 21st year in a row, the Company/Group has been paying for its employees 70 to 90 percent (depending on
the employee’s age) of the tax deductible supplementary pension scheme premium.
In 2023, the annual holiday pay amounted to EUR 2,192, per employee in all companies of the Group, whereas in
the preceding year, it was EUR 2,008.
Average number of employees by education
Luka Koper, d. d.
Luka Koper Group
Level of education
2023
2022
2023
2022
VIII/2
2
1
2
1
VIII/1
24
25
26
27
VII
134
126
142
134
VI/2
244
236
251
242
VI/1
120
112
127
119
V
508
461
551
503
IV
527
491
582
546
III
16
17
28
28
I–II
120
119
149
150
Total
1,695
1,588
1,858
1,750
Additional Notes to the Income Statement Annual report 2023 285
Note 7. Amortisation and depreciation expense
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Depreciation of buildings
15,451,499
14,742,278
15,859,646
15,181,494
Depreciation of equipment and spare parts
15,511,614
14,672,512
16,011,721
15,159,149
Depreciation of small tools
15,469
19,666
15,778
19,975
Depreciation of investment property
584,912
586,800
271,245
264,909
Amortisation of intangible assets
247,390
390,106
254,678
439,233
Depreciation of investment into foreign-owned assets
11,667
11,667
17,743
17,743
Depreciation of right-of-use assets
440,551
376,817
388,728
405,491
Total
32,263,102
30,799,846
32,819,539
31,487,994
The increase in the cost of depreciation is the result of the transfer of assets to use.
Note 8. Other expenses
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Provisions
2,864,406
75,665
2,864,406
75,665
Impairment costs, write-offs and losses on property,
plant and equipment and investment property
462,566
239,986
600,616
240,144
Expenses for allowances for receivables
113,463
370,406
124,571
379,672
Levies that are not contingent upon cost of labour and
other types of cost
7,524,520
7,486,773
7,567,863
7,496,411
Donations
539,400
354,800
547,750
359,580
Environmental levies
220,219
148,310
190,455
139,874
Awards and scholarships to students inclusive of tax
25,503
6,987
25,503
6,987
Awards and scholarship to students
28,195
23,142
28,195
23,142
Other costs and expenses
1,053,827
686,642
1,101,477
706,329
Total
12,832,099
9,392,711
13,050,836
9,427,804
Provisioning costs refer to expenses incurred in connection with lawsuits received by the controlling company. In
accordance with Article 92 of IAS 37 – Provisions, Contingent Liabilities and Contingent Assets, the Company/Group
does not disclose detailed information on its legal obligations as such disclosure could result in a judgement on
the position of the Company in disputes with other parties.
Expenses for impairments, write-offs and losses from the sale of property, plant and equipment and investment
property relate to the write-off of replaced parts or the destruction of assets that had a carrying amount and to the
sale of assets that realised a loss.
In 2023, expenses for forming the value adjustment of receivables decreased mainly in the controlling company,
which was due to a better ageing structure of receivables from customers. The amount of expenses in forming the
value adjustment of receivables arises from contracts with customers in accordance with IFRS 15.
Levies that are not contingent upon cost of labour and other types of cost mostly relate to the fee for the use of
construction land.
The Company/Group continues to have a humanitarian orientation and has therefore earmarked more funds for
donations in 2023 than in the previous year. Among the major donations in both 2023 and 2022 is a donation to the
Municipality of Koper for the implementation of mitigation measures to reduce the environmental impact of
emissions from port operations. For this purpose, the company transferred EUR 200,000 annually to the
municipality, and the municipality distributed these funds to the beneficiaries by holding a public tender for the
allocation of grants.
Other costs and expenses mainly consist of compensations for damage to assets owned by third persons. The
damage occurred during the handling of goods in the port.
286 Annual report 2023 Additional Notes to the Income Statement
Note 9. Finance income and finance expenses
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Finance income from shares and interests
5,149,167
6,180,097
3,510,022
3,676,106
Finance income from shares and interests in Group
companies
462,701
1,401,462
0
0
Finance income from shares and interests in
associate companies
1,232,981
1,158,075
0
0
Finance income from shares and interests in other
companies
2,932,828
2,524,888
2,989,366
2,580,434
Finance income from other investments
520,656
1,095,672
520,656
1,095,672
Finance income – interest
2,036,294
11,428
2,485,306
24,716
Interest income – other
2,036,294
11,428
2,485,306
24,716
Finance income from operating receivables
387,358
158,178
395,964
166,646
Finance income from operating receivables due from
others
387,358
149,512
395,964
154,953
Net exchange differences
0
8,666
0
11,693
Total finance income
7,572,819
6,349,703
6,391,292
3,867,468
Finance expenses for financial investments
0
-790,272
0
-305,272
Finance expenses – interest
-1,422,134
-405,344
-1,421,902
-404,967
Interest expenses – banks
-1,415,497
-397,701
-1,415,497
-397,701
Finance expenses for lease liability to others
-6,055
-6,992
-6,405
-7,266
Finance expenses for lease liability to Group
companies
-582
-651
0
0
Finance expenses for operating liabilities
-261,436
-49,174
-287,114
-54,428
Finance expenses for trade payables
-7
-26
-21
-45
Finance expenses for other operating liabilities
-240,770
-49,148
-264,549
-54,383
Net exchange differences
-20,659
0
-22,544
0
Total finance expenses
-1,683,570
-1,244,790
-1,709,016
-764,667
Net financial result
5,889,249
5,104,913
4,682,276
3,102,801
In 2023, the controlling company records finance income from shares in Group companies and presents shared
profits of these companies, i.e. Luka Koper INPO, d. o. o., in the amount of EUR 115,027, Adria Terminali, d. o. o., in
the amount of EUR 250,000 Adria Investicije, d. o. o., in the amount of EUR 44,679, Logis-Nova, d. o. o. in the amount
of EUR 11,859, and TOC, d. o .o. in the amount of EUR 41,136. In the previous year, in addition to the financial income
of EUR 202,983 due to the payment of profits of the Group companies, the controlling company also realised income
of EUR 1,198,479 on the completion of the liquidation proceedings of Luka Koper Pristan, d. o. o. - in liquidation,
which ended on 14 December 2022 with the company's removal from the court register.
Finance income from shares and interests in associates recorded by the controlling company in 2023 refers to
sharing of profits of companies, i. e., Adria-Tow, d. o. o. in the amount of EUR 541,000, Adria Transport, d. o. o. in
the amount of EUR 160,246, Avtoservis, d. o. o. in the amount of EUR 487,490, and Adriafin, d. o. o. in the amount of
EUR 44,245.
Finance income from shares and interests in other entities recorded by the Company/Group mainly refers to
dividends received on investments into securities and distributions of the related share of profits. The group also
reports the profits received from companies that are excluded from consolidation, namely Logis-Nova, d. o. o. and
Adria Investicije, d. o. o.
Finance income from other investments refers to the recognised higher value of investments valued at fair value
through profit or loss.
The Company/Group also generates finance income in the financial markets through interest on funds placed in
short-term bank deposits and treasury bills.
Finance income from operating receivables relates mainly to default interest charged for late payments of
receivables paid by customers in the financial year.
Additional Notes to the Income Statement Annual report 2023 287
Among the financial expenses from financial investments, the Company/Group recognises the revaluation of other
financial investments carried at fair value through profit or loss.
Finance expenses arising on interest in 2023 amounted to EUR 1,422,134 in the Company, whereas the Group
recorded EUR 1,421,902. The increase was mainly due to an increase in financial expenses for interest to banks, as
a result of a larger volume of loans received and a rise in variable interest rates.
Note 10. Taxes and effective tax rate
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Profit before tax
65,122,488
86,834,436
67,375,056
87,951,620
Income tax (19%)
12,373,273
16,498,543
12,801,261
16,710,808
Non-taxable income and increase in expenditure
-537,578
-306,173
-565,549
-369,201
Non-taxable dividends received
-776,627
-738,330
-803,378
-680,062
Tax incentives
-1,388,746
-2,698,089
-1,711,210
-2,857,012
Non-deductible expense
716,072
759,984
805,819
876,874
Other reduction in the tax base
0
0
-8,990
-8,140
Other increase in the tax base
302,789
52,274
429,089
52,274
Tax calculated under tax uncertainty
574,656
0
574,656
0
Change in tax rate
-591,373
0
-592,011
0
Total tax expenditure
10,672,466
13,568,209
10,929,687
13,725,541
Effective tax rate
16.39%
15.63%
16.22%
15.61%
For the income tax calculation, the controlling company and all Group companies observed provisions of the
Corporate Income Tax Act.
The tax expense comprises the income tax and deferred taxes recognised in the income statement.
Note 11. Net earnings per share
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Net profit for the period
54,450,022
73,266,227
56,393,649
74,112,143
Total number of shares
14,000,000
14,000,000
14,000,000
14,000,000
Basic and diluted earnings per share
3.89
5.23
4.03
5.29
288 Annual report 2023 Additional Notes to the Statement of Financial Position
34 Additional Notes to the Statement of
Financial Position
Note 12. Property, plant and equipment
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Land
17,513,373
20,138,595
22,314,194
23,287,917
Buildings
293,595,520
288,263,091
299,987,009
294,658,334
Plant and equipment
107,650,039
106,427,539
109,538,146
108,530,087
Property, plant and equipment being
acquired
33,055,949
30,151,426
33,062,149
30,168,276
Rights to use assets
938,303
1,125,800
822,911
1,000,701
Total
452,753,184
446,106,451
465,724,409
457,645,315
No items of the Company’s/Group’s property, plant and equipment were pledged as collateral.
The cost of the property, plant and equipment in use, of which the carrying value as at 31 December 2023 equalled
zero, is recorded in the Company at EUR 308,246,546 (31 Dec 2022: EUR 291,503,400). In the Group, such assets
amounted to purchase price of EUR 317,109,486 as at 31 December 2023 (31 Dec 2022: EUR 299,250,747).
As at 31 December 2023, the Company/Group presented commitments to purchase property, plant and equipment
in the amount of EUR 75,756,496 (in 2022, EUR 37,419,048 at the Company/Group level).
As at 31 December 2023, the outstanding trade payables of the Company to suppliers of items of property, plant
and equipment amounted to EUR 11,758,389 (2022: EUR 15,032,463), and the Group recoded such payables at EUR
11,830,912 (2022: EUR 15,038,666).
In 2023, the Company/Group recognised EUR 214,669 from capitalization of borrowing costs. The weighted interest
rate was between 1.60% and 1.90%.
In 2023, investments in property, plant and equipment amounted to a total of EUR 41,067,873 in the Company, and
EUR 41,351,905 in the Group. The largest investments were:
• Development of storage areas in the area of the 5A cassette,
• Installation of new plugs for reefer containers,
• Construction of a new external truck terminal at the Sermin entrance,
• Modernisation of the cooling and fire extinguishing system on methanol tanks,
• Construction of a transformer station to power the new enclosed passages,
• Continued transfer of storage blocks at the container terminal,
• Continued upgrade of the dry bulk cargoes terminal in line with ATEX,
• Purchase of 8 terminal tractors with trailers for the needs of the container terminal,
• Purchase of 9 new 8 ton forklifts for the general cargo terminal,
• Purchase of an industrial excavator for dry bulk cargoes.
In terms of mitigating climate change and adapting to climate change, the Company/Group invested in the amount
of EUR 867,951 in 2023, mainly in the construction of solar power plants, energy upgrade of lighting, procurement
and installation of ventilation, heating and cooling systems and electric scooters.
In order to meet its sustainability vision, the Company/Group invested a total of EUR 4,332,437, mainly in the
upgrade of the dry bulk cargoes terminal in accordance with the ATEX Directive, the modernisation of the cooling
and fire-fighting system on the Methanol tanks, seabed dredging and transfer of marine sediment, and the
replacement of internal combustion cars with electric ones.
In the reference period, the Company/Group found no material indication of required impairment to be carried out
with respect to the property, plant and equipment.
Additional Notes to the Statement of Financial Position Annual report 2023 289
At the end of the year, the Company/Group assessed the useful life of property, plant and equipment and concluded
that there had been no change in circumstances. The Company/Group divides important fixed assets by components
that have different useful lives.
The difference between the cost and value adjustment for assets disposed of and written off was recognised among
costs for impairment, write-offs and losses on sale of property, plant and equipment and investment property (Note
8).
Movements in property, plant and equipment in 2023 - Company
(in EUR)
Land
Buildings
Plant and
equipment
Assets in
acquisition
Total
Cost
Balance at 31 Dec 2022
20,138,595
574,194,757
354,039,484
30,151,427
978,524,263
Additions
0
0
0
41,067,873
41,067,873
Transfer from investments in course
of construction
137,736
21,203,092
16,727,196
-38,068,024
0
Disposals
-542,000
-526,496
-3,186,060
-12,000
-4,266,556
Write-offs
0
-1,036,796
-3,010,412
0
-4,047,208
Transfer to intangible assets
0
0
-11,018
-28,529
-39,547
Transfer from intangible assets
0
0
109,150
0
109,150
Transfer to investment property
0
0
0
-54,799
-54,799
Reclassifications within property,
plant and equipment
-569,459
-655,966
-14,091
0
-1,239,516
Subsequent payments to a
subsidiary
-1,651,498
-1,053,724
-246,316
0
-2,951,537
Balance at 31 Dec 2023
17,513,373
592,124,867
364,407,933
33,055,950
1,007,102,123
Allowances
Balance at 31 Dec 2022
0
285,931,666
247,611,945
0
533,543,611
Depreciation
0
15,463,166
15,527,083
0
30,990,249
Disposals
0
-183,699
-3,133,045
0
-3,316,744
Write-offs
0
-950,614
-3,010,412
0
-3,961,026
Transfer from intangible fixed assets
0
0
19,000
0
19,000
Reclassifications within property,
plant and equipment
0
-1,225,997
-13,520
0
-1,239,516
Subsequent payments to a
subsidiary
0
-505,175
-243,157
0
-748,332
Balance at 31 Dec 2023
0
298,529,347
256,757,895
0
555,287,242
Carrying amount
Balance at 31 Dec 2022
20,138,595
288,263,091
106,427,539
30,151,427
444,980,652
Balance at 31 Dec 2023
17,513,373
293,595,520
107,650,038
33,055,950
451,814,881
290 Annual report 2023 Additional Notes to the Statement of Financial Position
Movements in property, plant and equipment in 2022 - Company
(in EUR)
Land
Buildings
Plant and
equipment
Assets in
acquisition
Total
Cost
Balance at 31 Dec 2021
20,138,595
540,212,421
337,792,237
37,649,656
935,792,909
Additions
0
0
0
50,144,988
50,144,988
Transfer from investments in course
of construction
0
34,854,725
22,620,616
-57,475,341
0
Disposals
0
-915,576
-5,730,648
-51,542
-6,697,766
Write-offs
0
-94,870
-675,280
0
-770,150
Transfer to intangible assets
0
0
0
-29,980
-29,980
Transfer from intangible assets
0
0
32,559
0
32,559
Transfer to investment property
0
0
0
-86,354
-86,354
Transfer from investment properties
0
138,057
0
0
138,057
Balance at 31 Dec 2022
20,138,595
574,194,757
354,039,484
30,151,427
978,524,263
Allowances
Balance at 31 Dec 2021
0
271,934,357
239,260,078
0
511,194,435
Depreciation
0
14,753,946
14,692,178
0
29,446,124
Disposals
0
-817,710
-5,730,280
0
-6,547,990
Write-offs
0
-72,563
-610,031
0
-682,594
Transfer from investment properties
0
133,636
0
0
133,636
Balance at 31 Dec 2022
0
285,931,666
247,611,945
0
533,543,611
Carrying amount
Balance at 31 Dec 2021
20,138,595
268,278,064
98,532,159
37,649,656
424,598,474
Balance at 31 Dec 2022
20,138,595
288,263,091
106,427,539
30,151,427
444,980,652
Movements in property, plant and equipment in 2023 - Group
(in EUR)
Land
Buildings
Plant and
equipment
Assets in
acquisition
Total
Cost
Balance at 31 Dec 2022
23,287,916
587,710,773
365,340,554
30,168,278
1,006,507,521
Additions
0
0
211,199
41,140,706
41,351,905
Transfer from investments in course of
construction
137,736
21,203,092
16,798,828
-38,139,656
0
Disposals
-542,000
-991,171
-3,269,283
-12,000
-4,814,454
Write-offs
0
-1,036,796
-3,022,912
0
-4,059,708
Transfer to intangible assets
0
0
-11,018
-40,379
-51,397
Transfer from intangible assets
0
0
109,150
0
109,150
Transfer to investment property
0
0
0
-54,799
-54,799
Reclassifications within property, plant and
equipment
-569,459
-686,051
-34,131
0
-1,289,641
Subsequent payments to a subsidiary -
Increases
4,800,821
4,930,750
3,159
0
9,734,730
Subsequent payments to a subsidiary -
Decreases
-4,800,821
-10,052,879
-246,316
0
-15,100,015
Balance at 31 Dec 2023
22,314,192
601,077,718
375,879,232
33,062,151
1,032,333,292
Allowances
Balance at 31 Dec 2022
0
293,052,440
256,810,467
0
549,862,907
Depreciation
0
15,877,389
16,027,498
0
31,904,888
Disposals
0
-183,699
-3,216,251
0
-3,399,950
Write-offs
0
-1,289,497
-3,022,912
0
-4,312,408
Transfer from intangible assets
0
0
19,000
0
19,000
Reclassifications within property, plant and
equipment
0
-1,243,797
-33,560
0
-1,277,357
Subsequent payments to a subsidiary -
Decreases
0
-5,122,128
-243,157
0
-5,365,285
Balance at 31 Dec 2023
0
301,090,708
266,341,086
0
567,431,794
Carrying amount
Balance at 31 Dec 2022
23,287,916
294,658,333
108,530,087
30,168,278
456,644,614
Balance at 31 Dec 2023
22,314,192
299,987,010
109,538,146
33,062,151
464,901,498
Additional Notes to the Statement of Financial Position Annual report 2023 291
Movements in property, plant and equipment in 2022 - Group
(in EUR)
Land
Buildings
Plant and
equipment
Assets in
acquisition
Total
Cost
Balance at 31 Dec 2021
23,287,916
555,061,052
349,638,972
37,670,657
965,658,597
Additions
0
34,256
556,959
50,180,987
50,772,202
Transfer from investments in course of
construction
0
34,894,321
22,621,169
-57,515,490
0
Disposals
0
-2,340,514
-6,833,825
-51,542
-9,225,881
Write-offs
0
-94,870
-675,280
0
-770,150
Transfer from property, plant and equipment
0
20,960
0
0
20,960
Transfer to intangible assets
0
-2,489
0
-29,980
-32,469
Transfer from intangible assets
0
0
32,559
0
32,559
Transfer to investment property
0
0
0
-86,354
-86,354
Transfer from investment properties
0
138,057
0
0
138,057
Balance at 31 Dec 2022
23,287,916
587,710,773
365,340,554
30,168,278
1,006,507,521
Allowances
Balance at 31 Dec 2021
0
279,071,607
249,049,221
0
528,120,828
Depreciation
0
15,199,239
15,179,124
0
30,378,363
Disposals
0
-1,277,646
-6,807,847
0
-8,085,493
Write-offs
0
-72,563
-610,031
0
-682,594
Transfer to intangible long-term assets
0
-1,833
0
0
-1,833
Transfer from investment properties
0
133,636
0
0
133,636
Balance at 31 Dec 2022
0
293,052,440
256,810,467
0
549,862,907
Carrying amount
Balance at 31 Dec 2021
23,287,916
275,989,445
100,589,751
37,670,657
437,537,769
Balance at 31 Dec 2022
23,287,916
294,658,333
108,530,087
30,168,278
456,644,614
Rights to use assets
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Land
687,699
956,040
687,699
956,040
Buildings
237,774
156,972
103,485
12,442
Equipment
12,830
12,788
31,727
32,219
Total
938,303
1,125,800
822,911
1,000,701
The rights to use assets refer to the assets rented and recognised by the Company/Group in accordance with the
standard IFRS 16 – Leases. The rights to use assets are part of fixed assets and, due to insignificance, are not
disclosed as a separate item in statements of financial position.
Among disposals and write-offs, the Company/Group discloses completed and written-off leases that were
terminated in 2023 or earlier.
292 Annual report 2023 Additional Notes to the Statement of Financial Position
Movements in the rights to use assets in 2023 - Company
(in EUR)
Land
Buildings
Plant and
equipment
Total
Cost
Balance at 31 Dec 2022
1,987,392
491,288
64,965
2,543,644
Additions
0
211,483
41,571
253,054
Disposals, write-offs
-590,624
-391,698
-51,610
-1,033,931
Balance at 31 Dec 2023
1,396,768
311,073
54,926
1,762,768
Allowances
Balance at 31 Dec 2022
1,031,352
334,316
52,177
1,417,845
Depreciation
268,341
130,682
41,529
440,551
Disposals, write-offs
-590,624
-391,698
-51,610
-1,033,931
Balance at 31 Dec 2023
709,069
73,300
42,096
824,465
Carrying amount
Balance at 31 Dec 2022
956,040
156,972
12,788
1,125,800
Balance at 31 Dec 2023
687,699
237,774
12,830
938,303
Movements in the rights to use assets in 2022 - Company
(in EUR)
Land
Buildings
Plant and
equipment
Total
Cost
Balance at 31 Dec 2021
1,987,392
381,793
51,610
2,369,185
Additions
0
109,494
13,355
122,849
Balance at 31 Dec 2022
1,987,392
491,288
64,965
2,543,644
Allowances
Balance at 31 Dec 2021
763,011
232,515
45,502
1,041,028
Depreciation
268,341
101,800
6,675
376,817
Balance at 31 Dec 2022
1,031,352
334,316
52,177
1,417,845
Carrying amount
Balance at 31 Dec 2021
1,224,381
149,278
6,108
1,328,157
Balance at 31 Dec 2022
956,040
156,972
12,788
1,125,800
Movements in the rights to use assets in 2023 - Group
(in EUR)
Land
Buildings
Plant and
equipment
Total
Cost
Balance at 31 Dec 2022
1,987,392
183,417
307,833
2,478,642
Additions
0
131,259
79,677
210,936
Disposals, write-offs
0
0
-294,478
-294,478
Balance at 31 Dec 2023
1,987,392
314,676
93,032
2,395,100
Allowances
Balance at 31 Dec 2022
1,031,352
170,974
275,615
1,477,941
Depreciation
268,341
40,218
80,169
388,728
Disposals, write-offs
0
0
-294,478
-294,478
Balance at 31 Dec 2023
1,299,693
211,192
61,306
1,572,190
Carrying amount
Balance at 31 Dec 2022
956,040
12,443
32,219
1,000,701
Balance at 31 Dec 2023
687,699
103,484
31,727
822,910
Additional Notes to the Statement of Financial Position Annual report 2023 293
Movements in the rights to use assets in 2022 - Group
(in EUR)
Land
Buildings
Plant and
equipment
Total
Cost
Balance at 31 Dec 2021
1,987,392
164,213
314,839
2,466,444
Additions
0
19,204
52,538
71,742
Disposals, write-offs
0
0
-59,544
-59,544
Balance at 31 Dec 2022
1,987,392
183,417
307,833
2,478,642
Allowances
Balance at 31 Dec 2021
763,011
120,911
243,015
1,126,937
Depreciation
268,341
50,063
87,087
405,491
Disposals, write-offs
0
0
-54,487
-54,487
Balance at 31 Dec 2022
1,031,352
170,974
275,615
1,477,941
Carrying amount
Balance at 31 Dec 2021
1,224,381
43,302
71,824
1,339,507
Balance at 31 Dec 2022
956,040
12,443
32,219
1,000,701
Note 13. Investment property
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Investment property – land
11,256,486
14,405,808
11,256,486
11,256,486
Investment property – buildings
4,129,658
9,061,559
3,831,596
4,067,583
Total
15,386,143
23,467,367
15,088,082
15,324,069
The item of investment property includes land and buildings leased out, and properties that are currently not in
use. Investment properties are valued by using the cost model.
Leased properties
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Rental income on investment property
1,313,239
1,238,055
830,322
755,128
Depreciation of investment property
584,912
584,912
271,245
271,245
Maintenance costs of investment property
636,008
393,477
583,849
319,132
Other expenditure
270,704
179,977
121,690
122,164
Investment properties are not pledged as collateral.
Fair value of investment property as at 31 December 2023 amounted to EUR 15,545,375 in the Company and EUR
15,404,728 in the Group.
The Company/Group assesses the fair value significant investments using periodic valuations, and for less
significant investments, using the method of the total value of expected future cash flows generated through
renting.
The valuation for the purposes of financial reporting was carried out by a certified real estate appraiser as at 30
September 2023. The valuation was carried out using the market comparison approach (comparable transactions
method).
The management estimates that the fair value as of 31 December 2023 is unchanged from that at 31 December
2022.
294 Annual report 2023 Additional Notes to the Statement of Financial Position
Movements in investment property in 2023 – Company
(in EUR)
Land
Buildings
Total
Cost
Balance at 31 Dec 2022
14,405,808
17,683,778
32,089,586
Disposals, write-offs
0
-54,751
-54,751
Transfer from property, plant and equipment
0
54,799
54,799
Subsequent payments to a subsidiary
-3,149,322
-8,999,155
-12,148,478
Balance at 31 Dec 2023
11,256,486
8,684,671
19,941,156
Allowances
Balance at 31 Dec 2022
0
8,622,219
8,622,219
Depreciation
0
584,912
584,912
Disposals, write-offs
0
-35,164
-35,164
Subsequent payments to a subsidiary
0
-4,616,954
-4,616,954
Balance at 31 Dec 2023
0
4,555,013
4,555,013
Carrying amount
Balance at 31 Dec 2022
14,405,808
9,061,559
23,467,367
Balance at 31 Dec 2023
11,256,486
4,129,657
15,386,143
Movements in investment property in 2022 – Company
(in EUR)
Land
Buildings
Total
Cost
Balance at 31 Dec 2021
14,405,808
17,749,328
32,155,136
Additions
0
86,354
86,354
Disposals, write-offs
0
-13,847
-13,847
Transfer to property, plant and equipment
0
-138,057
-138,057
Balance at 31 Dec 2022
14,405,808
17,683,778
32,089,586
Allowances
Balance at 31 Dec 2021
0
8,180,017
8,180,017
Depreciation
0
586,800
586,800
Disposals, write-offs
0
-10,961
-10,961
Transfer to property, plant and equipment
0
-133,636
-133,636
Balance at 31 Dec 2022
0
8,622,219
8,622,219
Carrying amount
Balance at 31 Dec 2021
14,405,808
9,569,311
23,975,119
Balance at 31 Dec 2022
14,405,808
9,061,558
23,467,366
Movements in investment property in 2023 – Group
(in EUR)
Land
Buildings
Total
Cost
Balance at 31 Dec 2022
11,256,486
8,020,283
19,276,769
Disposals, write-offs
0
-54,751
-54,751
Transfer from property, plant and equipment
0
54,799
54,799
Balance at 31 Dec 2023
11,256,486
8,050,416
19,306,902
Allowances
Balance at 31 Dec 2022
0
3,952,701
3,952,701
Depreciation
0
271,246
271,246
Disposals, write-offs
0
-22,927
-22,927
Balance at 31 Dec 2023
0
4,218,820
4,218,820
Carrying amount
Balance at 31 Dec 2022
11,256,486
4,067,582
15,324,068
Balance at 31 Dec 2023
11,256,486
3,831,596
15,088,082
Additional Notes to the Statement of Financial Position Annual report 2023 295
Movements in investment property in 2022 – Group
(in EUR)
Land
Buildings
Total
Cost
Balance at 31 Dec 2021
11,256,486
8,104,304
19,360,790
Additions
0
65,394
65,394
Disposals, write-offs
0
-13,847
-13,847
Transfer to property, plant and equipment
0
-135,568
-135,568
Balance at 31 Dec 2022
11,256,486
8,020,283
19,276,769
Allowances
Balance at 31 Dec 2021
0
3,830,557
3,830,557
Depreciation
0
264,908
264,908
Disposals, write-offs
0
-10,961
-10,961
Transfer to property, plant and equipment
0
-131,803
-131,803
Balance at 31 Dec 2022
0
3,952,701
3,952,701
Carrying amount
Balance at 31 Dec 2021
11,256,486
4,273,747
15,530,233
Balance at 31 Dec 2022
11,256,486
4,067,582
15,324,068
Note 14. Intangible assets
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Long-term property rights and long-term deferred
development costs
759,814
870,086
841,090
942,603
Total
759,814
870,086
841,090
942,603
In the Company, the cost of the intangible assets in use, of which the carrying value as at 31 December 2023
equalled zero, is recorded at EUR 11,178,720 (2022: EUR 9,730,305). In the Group, such assets amounted to
purchase price of EUR 11,608,190 as at 31 December 2023 (31 Dec 2022: EUR 10,159,536).
As at 31 December 2023, the Company/Group, recorded commitments to purchase intangible assets in the amount
of EUR 64,419, whereas at the previous year-end, there were no such commitments.
Intangible assets were not pledged as collateral as at 31 December 2023.
Intangible assets of the Company/Group include industrial property rights and other rights, as well as costs of
development. Industrial property rights and other rights comprise computer software, information systems and
development-related projects. Development costs recorded in the Group relate to the company TOC, d. o. o. in
connection with the CAPSorb project (development of efficient ecological absorbents to control spills of all types of
hydrophilic and hydrophobic hazardous and non-hazardous substances on hard and water surfaces).
296 Annual report 2023 Additional Notes to the Statement of Financial Position
Movements in intangible assets in 2023 – Company
(in EUR)
Industrial
property and
other rights
Intangible
assets in
acquisition
Total
Cost
Balance at 31 Dec 2022
13,181,858
13,670
13,195,528
Additions
0
191,917
191,917
Write-offs
-414,439
0
-414,439
Transfer from property, plant and equipment
33,938
5,609
39,547
Transfer to property, plant and equipment
-19,000
-90,150
-109,150
Subsequent payments to a subsidiary - Decreases
-22,320
0
-22,320
Balance at 31 Dec 2023
12,760,037
121,046
12,903,403
Allowances
Balance at 31 Dec 2022
12,325,442
0
12,325,442
Depreciation
247,390
0
247,390
Write-offs
-414,439
0
-414,439
Transfer to property, plant and equipment
-19,000
0
-19,000
Subsequent payments to a subsidiary - Decreases
-18,124
0
-18,124
Balance at 31 Dec 2023
12,121,269
0
12,139,393
Carrying amount
Balance at 31 Dec 2022
856,416
13,670
870,086
Balance at 31 Dec 2023
638,768
121,046
759,814
Movements in intangible assets in 2022 – Company
(in EUR)
Industrial
property and
other rights
Intangible
assets in
acquisition
Total
Cost
Balance at 31 Dec 2021
13,151,878
33,988
13,185,866
Additions
0
12,241
12,241
Transfer from property, plant and equipment
29,980
0
29,980
Transfer to property, plant and equipment
0
-32,559
-32,559
Balance at 31 Dec 2022
13,181,858
13,670
13,195,528
Allowances
Balance at 31 Dec 2021
11,935,336
0
11,935,336
Depreciation
390,106
0
390,106
Balance at 31 Dec 2022
12,325,442
0
12,325,442
Carrying amount
Balance at 31 Dec 2021
1,216,542
33,988
1,250,530
Balance at 31 Dec 2022
856,416
13,670
870,086
Additional Notes to the Statement of Financial Position Annual report 2023 297
Movements in intangible assets in 2023 – Group
(in EUR)
Development
costs
Industrial
property and
other rights
Intangible assets
in acquisition
Total
Cost
Balance at 31 Dec 2022
390,746
13,420,583
21,555
13,832,884
Additions
0
0
191,917
191,917
Transfer from investments in course of
construction
0
0
11,850
11,850
Transfer from property, plant and
equipment
0
33,938
5,609
39,547
Transfer to property, plant and equipment
0
-19,000
-90,150
-109,150
Subsequent payments to a subsidiary -
Increases
0
0
4,196
4,196
Subsequent payments to a subsidiary -
Decreases
0
-22,320
0
-22,320
Balance at 31 Dec 2023
390,746
13,413,201
144,976
13,948,924
Allowances
Balance at 31 Dec 2022
390,746
12,499,535
0
12,890,281
Depreciation
0
254,679
0
254,679
Transfer to property, plant and equipment
0
-19,000
0
-19,000
Subsequent payments to a subsidiary -
Decreases
0
-18,124
0
-18,124
Balance at 31 Dec 2023
390,746
12,717,090
0
13,107,836
Carrying amount
Balance at 31 Dec 2022
0
921,048
21,555
942,603
Balance at 31 Dec 2023
0
696,111
144,976
841,088
Movements in intangible assets in 2022 – Group
(in EUR)
Development
costs
Industrial
property and
other rights
Intangible assets
in acquisition
Total
Cost
Balance at 31 Dec 2021
390,746
13,390,603
41,873
13,823,222
Additions
0
0
12,241
12,241
Transfer from property, plant and
equipment
0
29,980
0
29,980
Transfer to property, plant and equipment
0
0
-32,559
-32,559
Balance at 31 Dec 2022
390,746
13,420,583
21,555
13,832,884
Allowances
Balance at 31 Dec 2021
351,672
12,099,375
0
12,451,047
Depreciation
39,074
400,160
0
439,234
Balance at 31 Dec 2022
390,746
12,499,535
0
12,890,281
Carrying amount
Balance at 31 Dec 2021
39,074
1,291,228
41,873
1,372,175
Balance at 31 Dec 2022
0
921,048
21,555
942,603
Note 15. Other non-current assets
Under non-current assets, the Company/Group records advances given for purchase of property, plant and
equipment.
Note 16. Shares and interests in Group companies
Investments in subsidiaries
Recorded only by the controlling company, investments in subsidiaries amounted to EUR 13,786,988 as at 31
December 2023 (31 Dec 2022: EUR 4,048,063).
298 Annual report 2023 Additional Notes to the Statement of Financial Position
As the sole shareholder of Adria Terminali, d. o .o., the controlling company made a subsequent contribution of
EUR 11,514,699 as at 31 December 2023 using the Company's non-cash assets. Investment property with a carrying
amount of EUR 7,531,523, property, plant and equipment with a carrying amount of EUR 2,203,205 and intangible
assets with a carrying amount of EUR 4,196 were transferred. All fixed assets are located in the territory of the
Sežana cadastral municipality. At the same time, the investment in the subsidiary Adria Investicije, d. o. o., with a
carrying amount of EUR 1,775,775, was transferred. Since the transfer, the company is 100% owned by the
subsidiary Adria Terminali, d. o. o.
Investments in subsidiaries are not pledged as collateral.
Detailed presentation of transactions with subsidiaries is provided in Note 31 ‘Related party transactions’.
Movements in investments in subsidiaries
(in EUR)
2023
2022
Balance at 1 Jan
4,048,063
4,048,063
Increases
11,514,699
0
Increased investment due to subsequent payment
1,775,775
0
Transfer from property, plant and equipment, investment property, and
intangible fixed assets
9,738,924
0
Decreases
-1,775,775
0
Decreased investment due to subsequent payment
-1,775,775
0
Balance at 31 Dec
13,786,987
4,048,063
Overview of investments in subsidiaries
(in EUR)
Equity
interest
Investments
at
31 Dec 2023
Equity at
31 Dec 2023
Net sales
revenue in
2023
Net profit or
loss for
2023
No of
employees
31 Dec 2023
Luka Koper INPO, d. o. o.
100%
1,336,288
25,599,101
7,926,549
863,509
133
Adria Terminali, d. o. o.
100%
11,740,699
13,967,028
3,876,278
828,756
27
Logis-Nova, d. o. o.
100%
710,000
706,893
23,420
14,071
0
TOC, d. o. o.
68.13%
0
1,056,790
681,048
162,291
5
Total
13,786,988
(in EUR)
Equity
interest
Investments
at
31 Dec 2022
Equity at
31 Dec 2022
Net sales
revenue in
2022
Net profit or
loss for
2022
No of
employees
31 Dec 2022
Luka Koper INPO, d. o. o.
100%
1,336,288
24,609,437
7,233,927
595,085
131
Adria Terminali, d. o. o.
100%
226,000
1,881,124
3,689,583
521,901
27
Adria Investicije, d. o. o.
100%
1,775,775
157,394
84,028
44,678
0
Logis-Nova, d. o. o.
100%
710,000
704,681
21,291
12,483
0
TOC, d. o. o.
68.13%
0
955,566
609,907
149,539
5
Total
4,048,063
Note 17. Shares and interests in associates
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Shares and interests in associates
6,737,709
6,737,709
16,898,490
16,361,004
Total
6,737,709
6,737,709
16,898,490
16,361,004
The Company’s/Group’s shares and interests in associates are not pledged as collateral.
In 2023, there was no change in ownership of associates.
Additional Notes to the Statement of Financial Position Annual report 2023 299
Movements in shares and interests in associates - Group
(in EUR)
2023
2022
Balance at 1 Jan
16,361,004
15,784,793
Attributable profits
1,780,357
1,734,286
- Adria Transport, d. o. o.
390,301
320,493
- Adria Transport Croatia, d. o. o.
-40,664
-43,913
- Adria-Tow, d. o. o.
860,256
926,723
- Adriafin, d. o. o.
103,943
44,245
- Avtoservis, d. o. o.
466,521
486,738
Decreases
-9,889
0
Shares of other comprehensive income of associated
companies and joint ventures, which is accounted for
using the equity method
-9,889
0
Dividends paid
-1,232,982
-1,158,075
- Adria Transport, d. o. o.
-160,246
-200,000
- Adria-Tow, d. o. o.
-541,000
-315,000
- Adriafin, d. o. o.
-44,245
-179,338
- Avtoservis, d. o. o.
-487,490
-463,737
Balance at the end of the period
16,898,490
16,361,004
300 Annual report 2022 Additional Notes to the Statement of Financial Position
Significant data on associates in 2023
(in EUR)
Equity
interest
(in %)
Non-current
assets
Current
assets
Non-current
liabilities
Current
liabilities
Revenue
Net profit
or loss
Profit or
loss
attributable
to the
Group
Other
comprehensive
income
Payment of
previous
year's
profit
belonging
to the
Group
No of
employees
31 Dec
2023
Adria Transport, d. o. o.
50%
8,468,608
4,633,557
2,245,707
2,997,412
13,733,320
780,602
390,301
776,425
160,246
45
Adria Transport Croatia, d. o. o.
50%
2,536
407,335
0
223,291
583,233
-81,328
-40,664
-81,328
0
2
Adria-Tow, d. o. o.
50%
13,561,096
2,395,018
183,955
1,838,078
8,288,480
1,720,513
860,256
1,701,541
541,000
35
Adriafin, d. o. o.
50%
8,083,348
2,290,413
0
17,067
6,635
207,887
103,943
207,887
44,245
0
Avtoservis, d. o. o.
49%
649,583
3,180,012
0
955,545
5,659,718
952,083
466,521
953,769
487,490
34
Total
1,780,357
1,232,982
Significant data on associates in 2022
(in EUR)
Equity
interest
Non-current
assets
Current
assets
Non-current
liabilities
Current
liabilities
Revenue
Net
profit or
loss
Profit or
loss
attributable
to the
Group
Other
comprehensive
income
Payment of
previous
year's profit
belonging to
the Group
No of
employees
31 Dec 2022
Adria Transport, d. o. o.
50%
9,216,069
4,006,734
2,850,857
2,968,831
11,181,147
640,985
320,493
665,361
200,000
43
Adria Transport Croatia, d. o. o.
50%
3,150
271,814
250,050
3,133
0
-87,826
-43,914
-87,826
0
0
Adria-Tow, d. o. o.
50%
9,051,180
4,969,678
191,537
514,779
8,000,763
1,853,446
926,723
1,859,768
315,000
36
Adriafin, d. o. o.
50%
8,074,302
2,186,051
0
23,056
91,066
88,490
44,245
88,490
179,338
0
Avtoservis, d. o. o.
49%
683,069
3,398,378
94,170
1,023,304
6,078,368
993,342
486,738
998,884
463,737
38
Total
1,734,285
1,158,075
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 301
Note 18. Other non-current investments
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Other investments measured at fair value through
profit or loss
9,726,548
4,205,892
12,212,323
6,691,667
Other investments measured at fair value through
equity
47,736,700
41,552,427
47,736,700
42,297,460
Total
57,463,248
45,758,319
59,949,023
48,989,127
Other non-current investments primarily comprise investments in securities and equity interests.
Other investments measured at fair value through equity consisted of an investment in shares of Krka, d. d. as at
31 December 2023 and investments in shares of Krka, d. d. and Intereuropa, d. d. as at the previous year-end. The
sale of Intereuropa, d. d. shares was successfully completed in December 2023. Realised gains were recognised
through retained earnings, amounting to EUR 1,452,366 in the Company and EUR 2,117,354 in the Group. The
Company/Group previously measured the investment at cost and then reclassified it to equity-valued investments
in 2014 (Note 27).
Other investments measured at fair value through profit or loss refer to investments in other companies, where
the Company’s/Group’s equity interest is less than 20%, investments in mutual funds and two companies that are
fully (100%) owned by the controlling company or subsidiary and are not consolidated due to insignificance within
the Group.
In 2023, the Company/Group invested part of its surplus liquid assets of EUR 5,000,000 in a mutual fund and
classified the investment as measured at fair value through profit or loss.
Movements in other non-current investments of the Company
(in EUR)
2023
2022
Balance at 1 Jan
45,758,319
56,587,335
Increases
Purchases
5,000,000
0
Revaluation to fair value through equity
8,228,343
0
Revaluation to fair value through profit or loss
520,656
1,095,672
Decreases
Sale, long-term write-off
-2,044,070
0
Revaluation to fair value through equity
0
-11,619,416
Revaluation to fair value through profit or loss
0
-305,272
Balance at 31 Dec
57,463,248
45,758,319
Movements in other non-current investments of the Group
(in EUR)
2023
2022
Balance at 1 Jan
48,989,127
59,972,076
Increases
Purchases
5,000,000
0
Revaluation to fair value through equity
8,419,219
0
Revaluation to fair value through profit or loss
520,656
1,095,671
Decreases
Sale
-2,979,979
0
Revaluation to fair value through equity
0
-11,773,348
Revaluation to fair value through profit or loss
0
-305,272
Balance at 31 Dec
59,949,023
48,989,127
302 Annual report 2023
Note 19. Inventories
As at 31 December 2023, inventories in the Company/Group were recorded at EUR 2,091,082 (2022: EUR 1,596,208).
A larger portion thereof relates to maintenance material and spare parts, as well as to overhead-related material
and auxiliary material.
Note 20. Short-term investments
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Deposits and loans given
30,000,000
1,717
30,000,000
1,717
Treasury bills
39,474,594
0
39,474,594
0
Total
69,474,594
1,717
69,474,594
1,717
During the reporting period, the Company/Group placed part of its surplus cash in short-term bank deposits and
Treasury bills with the aim of generating higher finance income.
Movements in short-term investments in 2023 - Company/Group
(in EUR)
Financial
investments at
amortised cost
Loans/deposits
Total
Balance at 31 Dec 2021
0
1,619
1,619
Increases
Transfer from non-current financial investments
0
1,717
1,717
Decreases
Repayments
0
-1,619
-1,619
Balance at 31 Dec 2022
0
1,717
1,717
Increases
New investments
68,704,100
115,000,000
183,704,100
Capitalised interest
770,494
0
770,494
Decreases
Repayments received/investment realisation
-30,000,000
-85,001,717
-115,001,717
Balance at 31 Dec 2023
39,474,594
30,000,000
69,474,594
Note 21. Trade and other receivables
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Current operating receivables:
domestic market
23,990,403
29,409,231
24,976,227
30,189,532
foreign markets
25,376,870
21,646,631
25,492,610
21,800,778
Current operating receivables due from Group
companies
520,140
568,139
0
0
Current operating receivables due from associates
328,794
413,994
328,794
413,994
Current trade receivables
50,216,207
52,037,995
50,797,631
52,404,304
Current dividend receivables
554,151
0
554,151
0
Advances and collaterals given
77,328
86,991
79,800
87,616
Current receivables related to finance income
79,964
6,385
116,707
12,410
Receivables due from the state
3,491,566
3,467,266
3,668,360
3,608,808
Other current receivables
1,040,004
203,473
1,205,365
237,797
Trade receivables
55,459,220
55,802,110
56,422,014
56,350,935
Current deferred costs and expenses
3,708,335
3,544,481
3,715,779
3,551,751
Accrued income
225,599
275,941
225,598
275,940
Other receivables
3,933,934
3,820,422
3,941,377
3,827,691
Total
59,393,154
59,622,532
60,363,391
60,178,626
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 303
As at 31 December 2023, the value of trade and other receivables in the Company was EUR 59,393,154, the same
level as the previous year-end. The Group had trade and other receivables of EUR 60,363,391 as at 31 December
2023, which is also at the level of the balance on the last day of the previous year.
With most trade receivables, the Company/Group has an option to enforce a legal lien over the stored goods in its
possession. The Company/Group has a permanent insurance policy covering the major part of its short-term trade
receivables from customers incurred in the controlling company from 1 January 2023 and of the subsidiary Adria
Terminali, d. o. o. from 1 April 2023. As at 31 December 2023, 78.7% of the Company's outstanding short-term trade
receivables from customers are secured by a trade receivables insurance policy, 12.5% are covered by bank
guarantees or cash collateral, and 8.8% of short-term trade receivables from customers are unsecured. The
policyholder's excess is 5.0%.
As at 31 December 2023, the Company/Group recorded no receivables from Members of the Management Board or
the Supervisory Board.
Other receivables recorded by the Company/Group include short-term accrued income, which refer to income
arising on expenses for European development projects, co-financed by European institutions, and short-term
deferred costs. In 2019, the controlling company received from the Financial Administration of the Republic of
Slovenia a notice regarding the assessment of corporate income tax for 2017 amounting to EUR 3,058,642, and
settled the obligation. The liability was presented under current deferred costs since the Company appealed the
tax notice. Pursuant to IFRIC 23 – Uncertainty over Income Tax Treatments, the Company/Group formed a liability
for the payment of corporate income tax due to the uncertainty regarding the decision of the state authorities in
relation to the said appeal.
Maturity of current trade receivables
Luka Koper, d. d.
(in EUR)
31 Dec 2023
31 Dec 2022
Gross value
Allowances
Net value
Gross value
Allowances
Net value
Outstanding and undue
trade receivables
45,662,661
-145,044
45,517,617
47,764,501
-189,119
47,575,382
Past due trade receivables
5,158,564
-459,974
4,698,590
5,389,535
-926,922
4,462,613
Of which overdue:
up to 30 days
4,156,037
-43,475
4,112,562
3,377,788
-35,409
3,342,379
31 to 60 days
511,412
-48,934
462,478
590,043
-63,243
526,800
61 to 90 days
61,578
-13,362
48,216
524,158
-106,696
417,462
91 to 180 days
94,513
-38,215
56,298
217,437
-78,575
138,862
more than 181 days
335,024
-315,988
19,036
680,109
-642,999
37,110
Total
50,821,225
-605,018
50,216,207
53,154,036
-1,116,041
52,037,995
Note: the amount comprises trade receivables and receivables due from subsidiaries and associates.
Luka Koper Group
(in EUR)
31 Dec 2023
31 Dec 2022
Gross value
Allowances
Net value
Gross value
Allowances
Net value
Outstanding and undue
trade receivables
45,647,116
-147,614
45,499,502
47,885,008
-192,045
47,692,963
Past due trade receivables
5,602,338
-477,932
5,124,406
5,653,064
-941,723
4,711,341
Of which overdue:
up to 30 days
4,485,383
-47,236
4,438,147
3,575,096
-37,426
3,537,670
31 to 60 days
619,937
-59,802
560,135
644,934
-68,856
576,078
61 to 90 days
69,525
-14,920
54,605
530,858
-107,967
422,891
91 to 180 days
96,024
-38,555
57,469
221,369
-79,081
142,288
more than 181 days
331,469
-317,419
14,050
680,807
-648,393
32,414
Total
51,249,454
-625,546
50,623,908
53,538,072
-1,133,768
52,404,304
Note: the amount comprises trade receivables and receivables due from associates.
As at 31 December 2023, the Company disclosed allowances for receivables amounting to EUR 605,018, a decrease
from the preceding year end by EUR 511,023 and Group disclosed allowances for receivables amounting to EUR
625,546, a decrease from the preceding year end by EUR 508,222. The lower allowance for receivables in the
Company/Group is attributable to the better age structure of trade receivables.
304 Annual report 2023
Movements in allowances - Company
(in EUR)
2023
2022
Balance at 1 Jan
1,116,041
1,074,261
Increase:
Formation of allowances in the year
113,463
347,413
Transfer upon liquidation of Luka Koper Pristan
0
92,077
Decrease:
Collected receivables
-544,814
-381,393
Definitive write-off (elimination) of receivables
-79,672
-16,317
Balance at 31 Dec
605,018
1,116,041
Movements in allowances - Group
(in EUR)
2023
2022
Balance at 1 Jan
1,133,768
1,373,470
Increase:
Formation of allowances in the year
124,571
356,681
Transfer from assets held for sale - Luka Koper Pristan
0
92,077
Decrease:
Collected receivables
-549,033
-394,907
Definitive write-off (elimination) of receivables
-83,761
-293,553
Balance at 31 Dec
625,546
1,133,768
Note 22. Cash and cash equivalents
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Cash in hand
224
228
19,685
18,403
Bank balances
23,282,574
19,091,183
33,629,292
20,746,563
Short-term deposits at call
30,000,000
50,004,250
47,980,000
73,984,250
Total
53,282,798
69,095,661
81,628,977
94,749,216
Cash equivalents include short-term deposits at call where the Company/Group invests part of its surplus cash.
Note 23. Equity
Share capital
Share capital in the amount of EUR 58,420,965 consists of 14,000,000 shares of the controlling company Luka Koper,
d. d. that are freely transferable. The nominal value of a share is EUR 4.17.
The ownership structure, the movement of the share price and the dividend policy are outlined in detail in the
Business Report of the Luka Koper Group, Chapter 15, ‘The LKPG Share’.
Capital surplus (share premium) and revenue reserves
The Company/Group records legal reserves in the amount of at least 10% of share capital as required by the
Companies Act (ZGD-1). Legal reserves, share premium and other revenue reserves are not included in the
accumulated profit and are not subject to distribution. The Company/Group has no statutory reserves, as they are
not envisaged under its articles of association. Pursuant to Article 230 (3) of the Companies Act, at the year-end of
2023, the controlling company formed additional other revenue reserves in the amount of a half of net profit or loss,
which equalled EUR 27,225,011.
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 305
(in EUR)
31 Dec 2023
31 Dec 2022
Share premium
89,562,703
89,562,703
Legal reserves
18,765,115
18,765,115
Other revenue reserves
270,000,708
242,775,697
Total
378,328,526
351,103,515
Reserves arising from valuation at fair value
At the year-end of 2023, reserves arising on valuation at fair value with respect to the valuation of investments
measured at fair value through equity and with respect to unrealised actuarial gains and losses, amounted to EUR
31,975,786 in the Company, and EUR 31,736,420 in the Group. After deducting deferred taxes, they are recorded at
EUR 24,719,356 and EUR 24,501,725 respectively.
Retained earnings
Retained earnings consist of the unappropriated portion of the net profit for the period, which as at 31 December
2023 amounted to EUR 27,225,011 in the Company and EUR 29,168,638 in the Group, and net profit brought forward
that was recorded at EUR 16,653,542 and EUR 52,296,092 respectively.
Use of accumulated profit from 31 December 2022
In 2023, the Management and Supervisory Board proposed to the Shareholders’ Meeting to appropriate the
accumulated profit, which as at 31 December 2022 amounted to EUR 50,229,863.96, as follows:
• A portion in the amount of EUR 35,000,000 is to be used for dividend pay-out in the gross value of EUR
• The residual amount of accumulated profit in the amount of EUR 15,229,863.96 to remain
unappropriated.
During the 37th Shareholders’ Meeting of Luka Koper, d. d. on 28 June 2023, the proposal for the division of the
accumulated profit was voted through.
The statement of accumulated profit for the financial year 2023 is provided in Section 32, ‘Statement of accumulated
profit’.
Note 24. Provisions
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Provisions for pensions and similar liabilities
10,763,083
8,955,719
11,537,468
9,644,931
Provisions for legal disputes
12,075,018
11,392,779
12,075,018
11,392,779
Total
22,838,101
20,348,498
23,612,486
21,037,710
Provisions for pensions and similar liabilities are composed of provisions for termination benefits and jubilee
premiums as well as the post-employment benefits plan (one-off payment on retirement).
As at 31 December 2023, the Company/Group recorded EUR 3,657,301 liabilities under post-employment benefits.
Based on actuarial calculation, in the Company, the unrealised actuarial gain from the current and preceding year
with respect to termination benefits amounting to EUR 280,760 was recorded in other comprehensive income,
whereas the Group recorded EUR 331,085 of actuarial gain. The Company/Group recognised in the income
statement the current and past service cost with respect to termination benefits and jubilee premiums in the
amount of EUR 621,188 in the Company, and EUR 679,524 in the Group, and the interest cost amounting to EUR
225,585, and EUR 249,302 respectively. In 2023, payments under jubilee premiums and termination benefits
amounted to EUR 183,217 in the Company, and EUR 246,402 in the Group.
On 31 December 2023, provisions for lawsuits in the Company/Group were higher by EUR 682,239, which is the net
effect of the drawn down and additionally created provisions for legal liabilities in 2023. The Company/Group
records a number of different lawsuits for which, in accordance with Article 92 of IAS 37 - Provisions, Contingent
306 Annual report 2023
Liabilities and Contingent Assets, it does not disclose information because disclosure would result in a judgement
on the position of the Company's/Group in disputes with other parties. The balance of provisions as at 31 December
2023 reflects the Management's best estimate of the status of litigation in connection with lawsuits received. Actual
future liabilities of the Company/Group under this heading may deviate from current estimates, both positively and
negatively.
Sensitivity analysis of actuarial assumptions – Luka Koper, d. d.
Actuarial
assumption
Change in item *
(percentage points)
Change in the present value of the liability for (in EUR)
Jubilee awards as at
Termination benefits as at
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Rate of return
+0.5
-58,039
-46,472
-330,817
-278,572
-0.5
62,441
49,912
361,877
304,444
Salary growth
+0.5
64,220
51,879
362,354
305,854
-0.5
-60,122
-48,619
-331,964
-279,807
Fluctuation
+0.5
-60,409
-48,629
-343,525
-290,802
-0.5
47,822
38,671
161,248
137,473
Sensitivity analysis of actuarial assumptions – Luka Koper Group
Actuarial
assumption
Change in item *
(percentage points)
Change in the present value of the liability for (in EUR)
Jubilee awards as at
Termination benefits as at
31 Dec 2023
31 Dec 2022
31 Dec 2023
31Dec 2022
Rate of return
+0.5
-61,727
-49,534
-352,857
-294,975
-0.5
66,379
53,181
385,662
324,237
Salary growth
+0.5
68,307
55,294
386,031
325,579
-0.5
-63,979
-51,840
-353,954
-298,123
Fluctuation
+0.5
-64,248
-51,834
-366,483
-310,069
-0.5
50,643
41,026
170,071
144,361
Movements in provision for jubilee premiums and termination benefits and movements in actuarial gains and
losses in the financial year
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Total
jubilee
premiums
Termination
benefits
Total
Luka Koper,
d. d.
Total
jubilee
premiums
Termination
benefits
Total Luka
Koper
Group
Amount of present value of
commitments at 31 Dec 2021
811,713
4,616,315
5,428,028
868,626
5,163,351
6,031,977
Interest costs
6,861
39,983
46,845
7,332
44,535
51,867
Ongoing service costs
166,324
624,907
791,231
176,971
682,441
859,412
Past service costs
-3,028
-6,059
-9,087
4,853
23,578
28,431
Actuarial gains (-) and losses (+) –
movement in actuarial assumptions and
experience
152,564
-132,178
20,386
166,853
-91,045
75,808
Actuarial gains – reversal
-9,822
-53,020
-62,842
-10,446
-57,599
-68,045
Actuarial losses – formation and use
689
10,222
10,911
689
16,507
17,196
Liabilities for earnings in the period
1 Jan 2022 - 31 Dec 2022
-42,548
-154,685
-197,232
-48,443
-230,751
-279,194
Amount of present value of
commitments at 31 Dec 2022
1,082,754
4,945,486
6,028,240
1,166,435
5,551,017
6,717,452
Interest costs
39,618
185,967
225,585
42,512
206,790
249,302
Ongoing service costs
150,588
461,689
612,277
160,493
512,843
673,336
Past service costs
-352
9,263
8,911
693
5,495
6,188
Actuarial gains (-) and losses (+) –
movement in actuarial assumptions and
experience
146,566
331,058
477,624
162,744
378,326
541,070
Actuarial gains – reversal
-13,447
-58,419
-71,866
-13,646
-63,577
-77,223
Actuarial losses – formation and use
109
8,121
8,230
109
16,337
16,445
Liabilities for earnings in the period
1 Jan 2023 - 31 Dec 2023
-61,839
-121,378
-183,217
-70,822
-175,580
-246,402
Amount of present value of
commitments at 31 Dec 2023
1,343,996
5,761,787
7,105,783
1,448,518
6,431,650
7,880,168
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 307
Breakdown of actuarial gains and losses in the 2023 financial year by cause
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Total
jubilee
premiums
Termination
benefits
Total
Luka Koper,
d. d.
Total
jubilee
premiums
Termination
benefits
Total Luka
Koper
Group
Actuarial gains or losses from
changes in assumptions
138,473
458,544
597,018
147,770
488,786
636,556
Actuarial gains or losses from
experience adjustments
-5,246
-177,784
-183,030
1,437
-159,700
-158,263
Total actuarial gains (-) and losses
(+) in the period
133,227
280,760
413,988
149,207
329,086
478,293
Breakdown of actuarial gains and losses in the 2022 financial year by cause
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Total
jubilee
premiums
Termination
benefits
Total
Luka Koper,
d. d.
Total
jubilee
premiums
Termination
benefits
Total Luka
Koper
Group
Actuarial gains or losses from
changes in assumptions
-213,674
-1,545,703
-1,759,376
-225,376
-1,624,855
-1,850,231
Actuarial gains or losses from
experience adjustments
357,105
1,370,726
1,727,831
382,472
1,492,718
1,875,190
Total actuarial gains (-) and losses
(+) in the period
143,431
-174,977
-31,545
157,096
-132,137
24,959
Maturity of liabilities for jubilee awards and severance payments due by calendar years as at 31 Dec 2023
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Total
jubilee
premiums
Termination
benefits
Total
Luka
Koper,
d. d.
Total
jubilee
premiums
Termination
benefits
Total Luka
Koper
Group
2024
72,530
526,644
599,174
82,896
724,996
807,892
2025
83,922
249,196
333,118
95,623
279,052
374,676
2026
86,001
297,405
383,406
90,975
353,229
444,205
2027
116,687
154,646
271,333
129,460
192,477
321,937
2028
98,137
199,705
297,842
111,244
242,796
354,040
Over 5 years
886,719
4,334,190
5,220,910
938,319
4,639,099
5,577,418
Total actuarial gains (-) and losses
(+) in the period
1,343,996
5,761,787
7,105,783
1,448,518
6,431,650
7,880,168
Maturity of liabilities for jubilee awards and severance payments due by calendar years as at 31 Dec 2022
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Total
jubilee
premiums
Termination
benefits
Total
Luka Koper,
d. d.
Total
jubilee
premiums
Termination
benefits
Total Luka
Koper
Group
2023
51,011
412,270
463,281
58,873
583,196
642,069
2024
62,279
236,627
298,905
65,096
298,901
363,997
2025
73,969
235,251
309,221
84,111
261,419
345,530
2026
72,689
266,451
339,140
77,433
311,268
388,701
2027
98,710
143,922
242,632
109,161
177,378
286,539
Over 5 years
724,095
3,650,965
4,375,061
771,760
3,918,856
4,690,616
Total actuarial gains (-) and losses
(+) in the period
1,082,754
4,945,486
6,028,240
1,166,435
5,551,017
6,717,452
308 Annual report 2023
Movements in provisions – Luka Koper, d. d.
(in EUR)
1. Termination
benefits
2. Jubilee
premiums
3. Post-
employment
benefits plan
Total
benefits
(1, 2 and 3)
Claims and
damages
Total
Balance at 31 Dec 2021
4,616,315
811,713
2,356,603
7,784,631
11,366,109
19,150,740
Movement:
Formation
536,875
323,411
1,048,575
1,908,861
75,665
1,984,526
Transfer
0
0
-63,495
-63,495
0
-63,495
Use
-154,685
-42,548
-414,203
-611,436
-46,020
-657,456
Reversal
-53,020
-9,822
0
-62,842
-2,975
-65,817
Balance at 31 Dec 2022
4,945,485
1,082,754
2,927,480
8,955,719
11,392,779
20,348,498
Movement:
Formation
996,098
336,528
1,118,810
2,451,436
2,864,406
5,315,842
Transfer
0
0
-46,465
-46,465
0
-46,465
Use
-121,378
-61,839
-342,524
-525,741
-524,382
-1,050,123
Reversal
-58,419
-13,447
0
-71,866
-1,657,785
-1,729,651
Balance at 31 Dec 2023
5,761,786
1,343,996
3,657,301
10,763,083
12,075,018
22,838,101
Movements in provisions – Luka Koper Group
(in EUR)
1. Termination
benefits
2. Jubilee
premiums
3. Post-
employment
benefits plan
Total
benefits
(1, 2 and 3)
Claims and
damages
Total
Balance at 31 Dec 2021
5,163,351
868,626
2,356,603
8,388,580
11,366,109
19,754,689
Movement:
Formation
676,016
356,697
1,048,575
2,081,288
75,665
2,156,953
Use
-230,751
-48,443
-477,698
-756,892
-46,020
-802,912
Reversal
-57,599
-10,446
0
-68,045
-2,975
-71,020
Balance at 31 Dec 2022
5,551,017
1,166,434
2,927,480
9,644,931
11,392,779
21,037,710
Movement:
Formation
1,119,790
366,550
1,118,810
2,605,150
2,864,406
5,469,556
Use
-175,581
-70,822
-388,989
-635,392
-524,382
-1,159,774
Reversal
-63,577
-13,644
0
-77,221
-1,657,785
-1,735,006
Balance at 31 Dec 2023
6,431,649
1,448,518
3,657,301
11,537,468
12,075,018
23,612,486
Note 25. Deferred income
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Non-current deferred income for regular
maintenance
25,007,424
24,341,825
25,007,424
24,341,825
Non-refundable grants received
8,951,056
6,935,850
8,967,395
7,026,485
Other non-current deferred income
0
0
984,303
1,038,081
Total
33,958,480
31,277,675
34,959,122
32,406,391
Non-current deferred income of the Company/Group comprises deferred income on regular maintenance since in
compliance with the Concession Agreement, the controlling company Luka Koper, d. d., has the right and obligation
to collect port dues, which is income intended to cover the costs of performing public utility services. With respect
to any annual surplus of revenue over costs, the controlling company forms non-current deferred income for
covering the costs of public utility services relating to regular maintenance of the port infrastructure in the coming
years. In the event that costs exceeded the revenue, the controlling company would be utilising non-current
deferred income.
The grants received primarily comprise payments received with respect to non-refundable funds for investment
into EU development projects which are recorded by the controlling company and are utilised in accord with their
useful life. Under non-refundable funds received, the Group also records retained contributions on salaries of
employees of the Luka Koper INPO, d. o. o sheltered workshop, i.e., contributions to insurance schemes for
retirement pension, disability, sickness, and maternity. The assets were used in compliance with the Vocational
Rehabilitation and Employment of Disabled Persons Act for covering 75% of wages for disabled persons and labour
costs for the staff for the time spent assisting the disabled persons.
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 309
Group’s other non-current deferred income comprises non-current deferred income earmarked to cover the costs
of depreciation of fixed assets.
Movements in deferred income – Luka Koper, d. d.
(in EUR)
Non-current
deferred income
for regular
maintenance
Non-refundable
grants received
Total
Balance at 31 Dec 2021
21,642,989
7,235,652
28,878,641
Movement:
Formation
2,698,836
64,559
2,763,395
Transfer to other liabilities
0
-812
-812
Use
0
-363,549
-363,549
Balance at 31 Dec 2022
24,341,825
6,935,850
31,277,675
Movement:
Formation
665,599
0
665,599
Transfer from other liabilities
0
2,851,049
2,851,049
Use
0
-835,843
-835,843
Balance at 31 Dec 2023
25,007,424
8,951,056
33,958,480
Movements in deferred income – Luka Koper Group
(in EUR)
Non-current
deferred income
for regular
maintenance
Non-refundable
grants received
Other non-
current deferred
income
Total
Balance at 31 Dec 2021
21,642,989
7,376,030
1,118,357
30,137,376
Movement:
Formation
2,698,836
1,636,840
0
4,335,676
Transfer to other liabilities
0
-812
0
-812
Use
0
-1,985,573
-80,276
-2,065,849
Balance at 31 Dec 2022
24,341,825
7,026,485
1,038,081
32,406,391
Movement:
Formation
665,599
1,751,267
29,417
2,446,283
Transfer from other liabilities
0
2,851,049
0
2,851,049
Use
0
-2,661,406
-83,195
-2,744,601
Balance at 31 Dec 2023
25,007,424
8,967,395
984,303
34,959,122
Note 26. Non-current loans and borrowings
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Non-current borrowings from banks in Slovenia
93,979,370
54,315,463
93,979,370
54,315,463
Total
93,979,370
54,315,463
93,979,370
54,315,463
Non-current loans received are wholly attributable to the controlling company only, and therefore all notes and
movements below are presented together as if they were attributable to the Company/Group.
As at the balance sheet date, non-current borrowings from banks in the Company/Group amounted to EUR
93,979,370, and have thus increased by EUR 39,663,907 as compared to the year-end of 2022. The increase is the
result of drawing down a loan in the amount of EUR 60,000,000 taken out at the beginning of 2022 by the controlling
company from the banking syndicate of two banks.
The Company/Group transferred the portion of the loans due within one year to current borrowings.
All non-current borrowings from banks are being repaid following the predefined repayment schedule. All liabilities
under non-current borrowings from banks are collateralised with blank bills of exchange and financial covenants.
The Company/Group has been able to meet in full its financial commitments arising from loan agreements with
banks.
310 Annual report 2023
The controlling company, Luka Koper, d. d., has concluded a non-current loan agreement with the subsidiary Luka
Koper INPO, d. o. o., in the total amount of EUR 20,000,000, which have not yet been drawn down as of 31 December
2023.
Movements in non-current borrowings - Company/Group
(in EUR)
Lender
Banks
Total
Balance at 31 Dec 2021
60,688,522
60,688,522
New borrowings
36,100,000
36,100,000
Repayments
-12,250,000
-12,250,000
Transfer to current borrowings – the portion that matures within 1 year
-30,223,059
-30,223,059
Balance at 31 Dec 2022
54,315,463
54,315,463
New borrowings
60,000,000
60,000,000
Repayments
-5,142,857
-5,142,857
Transfer to current borrowings – the portion that matures within 1 year
-15,193,235
-15,193,235
Balance at 31 Dec 2023
93,979,370
93,979,370
Loan principals (non-current and current borrowings) by type of interest rate
Luka Koper, d. d., and the Luka Koper Group
Balance at 31 December 2023
(in EUR)
Currency
of loan
Interest rate
Date of maturity
Approved principal
amount
Principal at
31 Dec 2023
Loans A
EUR
from 0.440 to 0.850
from 31 Dec 2028
to 31 Dec 2031
123,716,356
78,487,606
Loans B
EUR
Euribor3m + 0.320
to 30 Apr 2032
36,100,000
30,685,000
Total
159,816,356
109,172,606
- whereof current portion
15,193,235
Balance at 31 December 2022
(in EUR)
Currency
of loan
Interest rate
Date of maturity
Approved principal
amount
Principal at
31 Dec 2022
Loans A
EUR
from 0.440 to 0.850
from 31 Dec 2028
to 31 Dec 2031
123,716,356
28,356,555
Loans B
EUR
Euribor3m + 0.320
to 30 Apr 2032
36,100,000
34,295,000
Total
159,816,356
62,651,555
- whereof current portion
8,336,093
Balance of non-current and current borrowings from banks at par value and by their maturity
Luka Koper, d. d. and Luka Koper Group for the financial year 2023
(in EUR)
Principal at
31 Dec 2023
2024
2025
2026
2027
2028
Period
2029–2032
Balance of received
loan principals by
maturity
109,172,606
15,193,235
15,193,236
15,193,235
15,193,235
15,193,235
33,206,429
Expected interest
7,081,971
1,638,694
1,429,189
1,203,081
976,974
753,116
1,080,917
Total
116,254,577
16,831,929
16,622,424
16,396,317
16,170,209
15,946,351
34,287,346
Luka Koper, d. d. and Luka Koper Group for the financial year 2022
(in EUR)
Principal at
31 Dec 2022
2023
2024
2025
2026
2027
Period
2028–2032
Balance of received
loan principals by
maturity
62,651,555
8,336,093
8,336,093
8,336,093
8,336,093
8,336,093
20,971,092
Expected interest
4,894,581
1,055,802
925,408
789,725
656,687
523,649
943,309
Total
67,546,137
9,391,895
9,261,501
9,125,818
8,992,779
8,859,741
21,914,402
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report 2023 311
Note 27. Deferred tax assets and deferred tax liabilities
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Receivables
Liabilities
Receivables
Liabilities
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Deferred tax assets and deferred
tax liabilities relating to:
- impairment of investments in
subsidiaries
301,528
298,562
0
0
301,528
298,562
0
0
- impairment of other
investments and deductible
temporary differences arising on
securities
3,326,454
8,740,460
7,424,965
5,125,034
3,326,454
8,761,627
7,424,965
5,215,116
- allowances for trade
receivables
170,167
244,056
0
0
174,683
247,424
0
0
- provisions for termination
benefits
412,324
423,855
0
0
451,917
468,598
0
0
- provisions for jubilee premiums
67,196
73,071
0
0
71,190
77,918
0
0
- provisions for legal disputes
12,921
11,159
0
0
12,921
11,159
0
0
- non-current accrued costs and
deferred
income for public utility service
525,665
453,983
0
0
525,665
453,983
0
0
Total
4,816,255
10,245,146
7,424,965
5,125,034
4,864,358
10,319,271
7,424,965
5,215,116
Off-set with deferred tax
liabilities relating to impairment
of other investments and
deductible temporary differences
arising on securities
-4,816,255
-5,125,034
-4,816,255
-5,125,034
-4,864,358
-5,215,116
-4,864,358
-5,215,116
Total
0
5,120,112
2,608,710
0
0
5,104,155
2,560,607
0
Deferred tax assets comprise deductible temporary differences arising on securities, non-current investments, impairment of receivables, provisions for retirement benefits and
jubilee premiums, lawsuits, and deferred income from public utility service. Deferred tax liabilities are taxable temporary differences arising on the fair value revaluation of
shares. The bases from which deferred taxes are formed do not have a limited term of validity.
Within deferred taxes, the Group also records deferred taxes relating to impairment of investments in subsidiaries, which due to being a tax item of the controlling company, is
not excluded. They are formed for the subsidiaries that have been defined as non-strategic for the Company and are also subject to various types of withdrawal or disinvestment.
312 Annual report 2023
The largest decrease can be seen in the item impairment of other investments and deductible temporary differences arising on securities, namely from the realisation of deferred
tax receivables on the sale of the investment in the shares of Intereuropa, d. d.
With the adoption of the Act on Reconstruction, Development and Provision of Financial Resources (ZORZFS) in December 2023, an increased tax rate of 22% was confirmed for
the period from 2024 to 2028 inclusive. As a result, the Company/Group has restated deferred tax assets and liabilities as it expects them to be realised in the period, except for
the provision for termination and jubilee benefits, which is expected to be realised over a longer time frame.
As at 31 December 2023, the Company conducted an off-set of its deferred tax liabilities with receivables in the amount of EUR 4,816,255 (2022: EUR 5,125,034), whereas in the
Group the off-set amount was EUR 4,864,358 (2022: EUR 5,215,116).
Movements in deferred tax assets and deferred tax liabilities in 2023 – Luka Koper, d. d.
(in EUR)
Receivables
Liabilities
Balance at
31 Dec 2022
Recognised
in the
income
statement
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec 2023
Balance at
31 Dec
2022
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec
2023
Deferred tax assets and deferred tax liabilities relating to:
- impairment of investments in subsidiaries
298,562
2,966
0
301,528
0
0
0
- impairment of other investments and deductible temporary
differences arising on
securities
8,740,460
-5,414,006
0
3,326,454
5,125,034
2,299,931
7,424,965
- allowances for trade receivables
244,056
-73,890
0
170,166
0
0
0
- provisions for termination benefits
423,855
-35,478
23,947
412,325
0
0
0
- provisions for jubilee premiums
73,071
-5,875
0
67,196
0
0
0
- provisions for legal disputes
11,159
1,762
0
12,921
0
0
0
- non-current accrued costs and deferred
income for public utility service
453,983
71,682
0
525,665
0
0
0
Total
10,245,146
-5,452,839
23,947
4,816,255
5,125,034
2,299,931
7,424,965
Off-set with deferred tax liabilities relating to impairment of other
investments and deductible temporary differences arising on
securities
-5,125,034
0
308,779
-4,816,255
-5,125,034
308,779
-4,816,255
Deferred tax assets in the Company’s statement of financial position
5,120,112
-5,452,839
332,726
0
0
2,608,710
2,608,710
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report 2023 313
Movements in deferred tax assets and deferred tax liabilities in 2022 – Luka Koper, d. d.
(in EUR)
Receivables
Liabilities
Balance at
31 Dec 2021
Recognised
in the
income
statement
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec 2022
Balance at
31 Dec 2021
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec 2022
Deferred tax assets and deferred tax liabilities relating to:
- impairment of investments in subsidiaries
509,689
-211,127
0
298,562
0
0
0
- impairment of other investments and deductible temporary
differences arising on
securities
8,740,582
-122
0
8,740,460
7,332,723
-2,207,688
5,125,035
- allowances for trade receivables
236,118
7,938
0
244,056
0
0
0
- provisions for termination benefits
438,550
5,307
-20,002
423,856
0
0
0
- provisions for jubilee premiums
77,113
-4,042
0
73,071
0
0
0
- provisions for legal disputes
0
11,159
0
11,159
0
0
0
- non-current accrued costs and deferred
income for public utility service
453,983
0
0
453,983
0
0
0
Total
10,456,035
-190,887
-20,002
10,245,147
7,332,723
-2,207,688
5,125,035
Off-set with deferred tax liabilities relating to impairment of
other investments and deductible temporary differences arising
on securities
-7,332,723
0
2,207,688
-5,125,035
-7,332,723
2,207,688
-5,125,035
Deferred tax assets in the Company’s statement of financial
position
3,123,312
-190,887
2,187,686
5,120,112
0
0
0
314 Annual report 2023
Movements in deferred tax assets and deferred tax liabilities in 2023 – Luka Koper Group
(in EUR)
Receivables
Liabilities
Balance at
31 Dec 2022
Recognised
in the
income
statement
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec 2023
Balance at
31 Dec
2022
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec 2023
Deferred tax assets and deferred tax liabilities relating to:
- impairment of investments in subsidiaries
298,562
2,966
0
301,528
0
0
0
- impairment of other investments and
deductible temporary differences arising
on securities
8,761,627
-5,435,173
0
3,326,454
5,215,115
2,209,849
7,424,964
- allowances for trade receivables
247,424
-72,742
0
174,682
0
0
0
- provisions for termination benefits
468,598
-42,937
26,257
451,918
0
0
0
- provisions for jubilee premiums
77,918
-6,728
0
71,190
0
0
0
- provisions for legal disputes
11,159
1,762
0
12,921
- non-current accrued costs and deferred
income for public utility service
453,983
71,682
0
525,665
0
0
0
Total
10,319,271
-5,481,170
26,257
4,864,358
5,215,115
2,209,849
7,424,964
Off-set with deferred tax liabilities relating to impairment of
other investments and deductible temporary differences arising
on securities
-5,215,116
0
350,758
-4,864,358
-5,215,115
350,758
-4,864,357
Deferred tax assets in the Group’s statement of financial position
5,104,155
-5,481,170
377,015
0
0
2,560,607
2,560,607
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report 2023 315
Movements in deferred tax assets and deferred tax liabilities in 2022 – Luka Koper Group
(in EUR)
Receivables
Liabilities
Balance at
31 Dec 2021
Recognised
in the
income
statement
Recognised in
the statement
of other
comprehensive
income
Balance at
31 Dec 2022
Balance at
31 Dec 2021
Recognised in
the statement of
other
comprehensive
income
Balance at
31 Dec 2022
Deferred tax assets and deferred tax liabilities relating to:
- impairment of investments in subsidiaries
509,689
-211,127
0
298,562
0
0
0
- impairment of other investments and deductible temporary
differences arising on
securities
8,761,750
-122
0
8,761,628
7,452,050
-2,236,934
5,215,116
- allowances for trade receivables
292,968
-45,544
0
247,424
0
0
0
- provisions for termination benefits
490,518
-4,072
-17,848
468,598
0
0
0
- provisions for jubilee premiums
82,520
-4,602
0
77,918
0
0
0
- provisions for legal disputes
0
11,159
0
11,159
0
0
0
- non-current accrued costs and deferred
income for public utility service
453,983
0
0
453,983
0
0
0
Total
10,591,428
-254,308
-17,848
10,319,272
7,452,050
-2,236,934
5,215,116
Off-set with deferred tax liabilities relating to impairment of
other investments and deductible temporary differences arising
on securities
-7,452,051
0
2,236,934
-5,215,117
-7,452,050
2,236,934
-5,215,116
Deferred tax assets in the Group’s statement of financial position
3,139,377
-254,308
2,219,086
5,104,155
0
0
0
316 Annual report 2023
Note 28. Current loans and borrowings
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31Dec 2023
31 Dec 2022
Current borrowings from banks in Slovenia
15,193,235
8,336,093
15,193,235
8,336,093
Total
15,193,235
8,336,093
15,193,235
8,336,093
Current borrowings from banks as at 31 December 2023 refer to the portion of non-current principal amounts
which mature in 2024 according to amortisation schedules.
Movements in current loans and borrowings
(in EUR)
Luka Koper, d. d.
Luka Koper Group
Lender
Lender
Banks
Total
Banks
Total
Balance at 31 Dec 2021
10,521,175
10,521,175
10,521,175
10,521,175
Repayments
-32,408,143
-32,408,143
-32,408,143
-32,408,143
Transfer from non-current borrowings – the portion
that matures within 1 year
30,223,061
30,223,061
30,223,061
30,223,061
Balance at 31 Dec 2022
8,336,093
8,336,093
8,336,093
8,336,093
Repayments
-8,336,093
-8,336,093
-8,336,093
-8,336,093
Transfer from non-current borrowings – the portion
that matures within 1 year
15,193,235
15,193,235
15,193,235
15,193,235
Balance at 31 Dec 2023
15,193,235
15,193,235
15,193,235
15,193,235
Note 29. Trade and other payables
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Current trade payables to domestic suppliers
29,761,821
27,630,541
30,292,892
28,308,157
Current trade payables to foreign suppliers
375,736
416,588
439,094
462,015
Current liabilities to Group companies
693,043
777,047
0
0
Current liabilities to associates
82,350
78,865
82,350
78,865
Current liabilities from advances
10,123,487
11,245,495
10,393,078
11,461,426
Current liabilities to employees
7,157,014
6,515,540
7,625,523
6,968,339
Current liabilities to the state and other
institutions
18,925
24,295
51,694
60,714
Total operating liabilities
48,212,376
46,688,371
48,884,631
47,339,516
Other operating liabilities
10,241,864
9,390,584
10,881,940
9,946,847
Total
58,454,240
56,078,955
59,766,571
57,286,363
At 31 December 2023, current trade and other payables were slightly higher than at the last day of the previous
year for both the Company and the Group. The largest increase is seen in the country's payables to domestic
suppliers, due to increased investment in fixed assets, maintenance and higher service prices.
Among liabilities from advances, the Company/Group shows advances received for subsidized EU projects, shown
in the controlling company, as well as collaterals received for the purpose of operating the tax warehouse at the
liquid and bulk cargo terminal.
Other operating liabilities comprise accrued costs relating to part of the salary from collective work performance,
accrued interest for loans and borrowings, accrued costs for remunerations and bonuses paid under individual
contracts, accrued costs for unused vacation days, and accrued charges for invoices to be received.
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 317
Note 30. Contingent liabilities
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Securities given
319,830
729,849
0
0
Contingent liabilities under legal disputes
25,894,775
23,618,984
25,894,775
23,618,984
Total contingent liabilities
26,214,605
24,348,833
25,894,775
23,618,984
Securities in the amount of EUR 319,830 were given to the company Adria Transport, d. o. o., by the controlling
company to cover a lease of locomotives. The company that received a guarantee from the controlling company
regularly paid its liabilities in this regard and there were no outstanding instalments as at 31 December 2023.
Contingent liabilities under legal disputes amounted to EUR 25,894,775 as at 31 December 2023, up EUR 2,275,791
from the preceding year-end. The increase relates to claims under lawsuits that the Company/Group assessed as
not qualifying for provisioning and were therefore recognised as contingent liabilities.
Regarding the property used in the area of the port of Koper for the performance of its activities and certain property
in the immediate vicinity of the Port of Koper, the Company/Group has some pending cases with the Republic of
Slovenia concerning the ownership status of the mentioned property, regarding which they are seeking appropriate
solutions together with the Republic of Slovenia. The Company/Group has not yet received any formal request from
the Republic of Slovenia on the basis of which it would be possible to assess its value, which has thus not been
disclosed, but it could have a significant impact on the accounts. For this issue, the Company/Group formed no
provisions as the conditions for their formation have not been met.
Note 31. Related party transactions
Remuneration of Members of the Management Board in the company Luka Koper, d. d. in 2023 (in EUR)
Name and surname
Gross
salary
(fixed
part)
Gross
salary
(variable
part)
Annual
holiday
pay and
jubilee
premiums
Insurance
premium
benefits
Benefits
and other
receipts
Total
remune
-ration
Boštjan Napast, President of the
Management Board from 3 Dec 2021 to
30 Jun 2023
122,138
27,872
1,096
170
124,872
276,148
Nevenka Kržan, Member of the
Management Board from 1 Jul 2022 to
30 Jun 2023, President of the
Management Board since 1 Jul 2023
198,857
12,598
2,192
261
7,743
221,651
Robert Rožac, Member of the
Management Board from 16 Nov 2021 to
31 Dec 2022
13,968
23,701
0
0
48,705
86,374
Vojko Rotar, Member of the
Management Board - Worker Director
since 16 Feb 2018
190,463
40,595
2,192
268
6,184
239,702
Total
525,425
104,766
5,480
699
187,505
823,875
318 Annual report 2023
Remuneration of Members of the Management Board in the company Luka Koper, d. d. in 2022 (in EUR)
Name and surname
Gross
salary
(fixed
part)
Gross
salary
(variable
part)
Annual
holiday
pay and
jubilee
premiums
Insurance
premium
benefits
Benefits
and
other
receipts
Total
remuneration
Boštjan Napast, President of the
Management Board since 3 Dec 2021
182,958
0
2,008
315
4,092
189,373
Dimitrij Zadel, President of the
Management Board from 29 Dec
2017 to 15 Nov 2021
0
30,855
0
0
0
30,855
Irma Gubanec, Member from
29 Dec 2017 to 15 Nov 2021
0
27,234
0
0
0
27,234
Metod Podkrižnik, Member from
29 Dec 2017 to 15 Nov 2021
0
27,758
0
0
0
27,758
Nevenka Kržan, Member since
1 Jul 2022
69,992
0
1,004
131
3,313
74,440
Robert Rožac, Member from
16 Nov 2021 to 31 Dec 2022
163,294
1,988
2,008
316
8,925
176,531
Vojko Rotar, Member of the
Management Board - Worker
Director since 16 Feb 2018
165,140
27,615
2,008
316
6,896
201,975
Total
581,384
115,450
7,028
1,078
23,226
728,166
Pursuant to Article 294, Item 5 of the Companies Act, the above table comprises remuneration for exercising
respective functions as well as other income, such as cost reimbursement, supplementary retirement schemes
and jubilee premiums.
To determine the variable income, i.e. remuneration for the Management Board, the Company/Group applied
several quantitative and qualitative indicators, which contribute to the Company’s long-term interests and
development.
The payment of variable income or remuneration to a member of the Management Board is made in accordance
with the applicable legislation.
The contracts of the Members of the Management Board do not include the variable income or remuneration
determined in form of shares.
Remuneration of groups of persons in the company Luka Koper, d. d. in 2023 (in EUR)
Groups of persons
Gross salary
(fixed and
variable part)
Annual holiday
pay and jubilee
premiums
Insurance
premium
benefits
Benefits
and other
receipts
Total
remuneration
Members of the Management Board
630,192
5,480
699
187,504
823,874
Members of the Supervisory Board
254,587
0
2,268
8,468
265,322
Employees with individual
employment contracts
3,156,749
62,858
0
225,983
3,445,590
Total
4,041,527
68,338
2,967
421,955
4,534,787
Remuneration of groups of persons in the company Luka Koper, d. d. in 2022 (in EUR)
Groups of persons
Gross salary
(fixed and
variable part)
Annual holiday
pay and jubilee
premiums
Insurance
premium
benefits
Benefits
and other
receipts
Total
remuneration
Members of the Management Board
696,834
7,028
1,078
23,226
728,166
Members of the Supervisory Board
260,073
0
2,737
4,000
266,810
Employees with individual
employment contracts
2,634,657
51,014
0
209,776
2,895,447
Total
3,591,564
58,042
3,815
237,002
3,890,423
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 319
Remuneration of groups of persons in the Luka Koper Group in 2023 (in EUR)
Gross remuneration of groups of persons
(in EUR)
Gross salary
(fixed and
variable part)
Annual
holiday pay
and jubilee
premiums
Insurance
premium
benefits
Benefits
and other
receipts
Total
Members of the Management Board
630,192
5,480
699
187,504
823,875
Members of the Supervisory Board
264,196
0
2,268
8,468
274,932
Employees with individual
employment contracts
3,313,677
67,425
0
241,935
3,623,037
Managing Directors of subsidiaries
217,232
4,566
512
50,299
272,610
Total
4,425,297
77,471
3,479
488,206
4,994,453
Until 1 August 2023, the Audit Committee of the Supervisory Board of the controlling company operated in the
subsidiary Luka Koper INPO, d. o. o., in accordance with Article 514a, Paragraph 2 of the Companies Act. When the
articles of association were amended, Luka Koper, d. d., as the sole shareholder, formed the Supervisory Board
and the Audit Committee of the Supervisory Board. The members of the Supervisory Board have not yet received
any remuneration in 2023 for their work on the company's bodies, but the estimated costs are included in the
statements for 2023.
Remuneration of groups of persons in the Luka Koper Group in 2022 (in EUR)
Gross remuneration of groups of persons
Gross wages
(fixed and
variable part)
Annual holiday
pay and jubilee
premiums
Insurance
premium
benefits
Benefits
and other
receipts
Total
Members of the Management Board
696,834
7,028
1,078
23,226
728,166
Members of the Supervisory Board
260,073
0
2,737
4,000
266,810
Members of Audit Committee – Luka
Koper INPO, d. o. o.
18,094
0
0
188
18,282
Employees with individual
employment contracts
2,708,660
53,022
0
68,553
2,830,235
Managing Directors of subsidiaries
280,882
6,024
0
58,101
345,007
Total
3,964,543
66,074
3,815
154,068
4,188,500
Gross remuneration of Members of the Supervisory Board and its Committees in Luka Koper, d. d., in 2023 (in
EUR)
Name and surname
Performance
of function
Insurance
premium
benefits (SB)
Attendance fees and
reimbursement
of costs
Total
gross
earnings
Andrej Koprivec, Member from 2 Jul 2021 to
6 Feb 2023
4,152
67
2,164
6,382
Barbara Nose, Member since 7 Feb 2023
16,191
193
6,241
22,625
Borut Škabar, Member since 7 Feb 2023
15,112
193
4,290
19,594
Boštjan Rader, Member since 7 Feb 2023
17,991
193
6,945
25,129
Božidar Godnjavec, member from 2 Jul 2021 to 6
Feb 2023
4,152
67
3,556
7,775
Franci Matoz, Chair from 2 Jul 2021 to
6 Feb 2023
5,103
67
1,996
7,166
Jožef Petrovič, Member since 7 Feb 2023
17,991
193
7,644
25,828
Mehrudin Vuković, Member since 19 Jan 2020
18,571
259
6,461
25,292
Mirko Bandelj, President since 7 Feb 2023
17,991
193
4,056
22,239
Mladen Jovičić, Member since 8 Apr 2009
19,263
259
6,270
25,793
Mateja Treven, External Member of the SB's
Audit Committee since 23 Feb 2023
5,068
0
2,048
7,116
Nevenka Črešnar Pergar, Deputy Chair from
2 Jul 2021 to 6 Feb 2023
4,429
67
3,484
7,979
Rok Parovel, Member since 13 Sep 2016
19,263
259
6,842
26,365
Simon Kolenc, External Member of the SB’s
Audit Committee from 12 Jul 2021 to
22 Feb 2023
1,532
0
726
2,259
Tomaž Benčina, Member from 7 Jun 2022 and
Deputy Chair since 23 Feb 2023
23,295
259
10,227
33,781
TOTAL
190,105
2,268
72,950
265,322
320 Annual report 2023
Gross remuneration of Members of the Supervisory Board and its Committees in Luka Koper, d. d., in 2022 (in
EUR)
Name and surname
Performance
of function
Insurance
premium
benefits
(SB)
Attendance
fees and
reimbursement
of costs
Total gross
earnings
Andrej Koprivec, Member since 2 Jul 2021
22,500
316
6,901
29,717
Božidar Godnjavec, member since 2 Jul 2021
22,500
316
10,975
33,791
Franci Matoz, Chair since 2 Jul 2021
27,656
316
5,277
33,249
Mehrudin Vuković, Member since 19 Jan 2020
18,750
316
4,730
23,796
Mladen Jovičić, Member since 8 Apr 2009
22,500
316
5,445
28,261
Nevenka Črešnar Pergar, Deputy Chair since
2 Jul 2021
24,000
316
10,816
35,132
Rado Antolovič, Member from 1 Jul 2019 to
26 Apr 2022
9,125
129
2,695
11,949
Rok Parovel, Member since 13 Sep 2016
22,500
316
6,017
28,833
Simon Kolenc, External Member of the SB’s Audit
Committee since 12 Jul 2021
6,600
0
2,484
9,084
Tamara Kozlovič, Member from 22 Aug 2019 to
12 Aug 2022
15,726
235
4,730
20,691
Tomaž Benčina, Member since 7 Jun 2022
9,036
158
3,113
12,307
Total
200,893
2,734
63,183
266,810
Remuneration in 2023 was paid pursuant to a decision on determining the payment for performance of functions
and attendance fees to the Members of the Supervisory Board and Members of Committees of the Supervisory
Board, which was adopted at the 29th General Meeting on 28 December 2017, and is published on the Company’s
website.
In addition to payments to the Supervisory Board Members, in 2023 the Supervisory Board allocated EUR 1,674 for
training of its Members.
Transactions with the Government of the Republic of Slovenia
(in EUR)
Luka Koper, d. d.
Payments
in 2023
Costs/expenses
in 2023
Payments
in 2022
Costs/expenses
in 2022
Concessions and the water fee
12,345,895
10,650,012
7,849,917
10,682,667
Transhipment fee
5,681,160
5,595,511
5,994,238
6,084,315
Dividends
17,850,000
0
8,139,600
0
Corporate income tax (taxes and advance
payments)
16,543,596
5,219,628
6,665,206
13,377,322
Other taxes and contributions
12,778,516
12,529,356
11,896,076
11,577,922
Total
65,199,167
33,994,507
40,545,037
41,722,226
(in EUR)
Luka Koper Group
Payments
in 2023
Costs/expenses
in 2023
Payments
in 2022
Costs/expenses
in 2022
Concessions and the water fee
12,345,895
10,650,012
7,849,917
10,682,667
Transhipment fee
5,681,160
5,595,511
5,994,238
6,084,315
Dividends
17,850,000
0
8,139,600
0
Corporate income tax (taxes and advance
payments)
16,652,848
5,448,518
6,735,756
13,471,233
Other taxes and contributions
13,098,549
13,485,424
12,196,106
12,479,435
Total
65,628,452
35,179,465
40,915,617
42,717,650
In 2023, dividends were paid out to two other companies, in which the Government of the Republic of Slovenia holds
a controlling interest, i.e., to SDH, d. d., in the amount of EUR 3,894,643 and Kapitalska družba, d. d. in the amount
of EUR 1,741,448.
No other transactions between the Government of the Republic of Slovenia and the Company/Group were recorded.
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 321
Transactions with Members of the Management Board and Members of the Supervisory Board or persons related
to them
In the business year 2023, there were no transactions between the Company/Group and Members of the
Management and Supervisory Boards.
In the period from January to December 2023, there were no transactions with related parties of the Members of
the Management Board; however, there were transactions with related parties of the Supervisory Board, namely in
the Company for EUR 1,393,000 from sales transactions, and in the Group for EUR 1,463,554. Most of the
transactions concern services related to port operations. As at 31 December 2023, the company reported
receivables for EUR 51,910 and the Group for EUR 52,383. All transactions were carried out on market terms.
In the period from January to December 2023, the company had EUR 1,393,000 worth of sales transactions with
persons related to key management personnel, and the Group had EUR 1,463,554 of such transactions. Most of the
transactions concern services related to port operations. As at 31 December 2023, the company reported
receivables for EUR 51,910 and the Group for EUR 52,383. All transactions were carried out on market terms.
Transactions with companies, in which the Republic of Slovenia has directly dominant influence
The shareholder-related companies are those in which the Republic of Slovenia and the SDH together directly hold
at least a 20% stake. The list of such companies is published on the SDH website (https://www.sdh.si/sl-
si/upravljanje-nalozb/seznam-nalozb).
In 2023, sales transactions conducted between Luka Koper, d. d. and entities in which the state has directly
dominant influence were recorded at EUR 4,791,412 and purchasing transactions amounted to EUR 5,135,308,
whereas the transactions between the Luka Koper Group and such entities were recorded at EUR 4,793,372 and
EUR 5,259,884 respectively. The majority of sale referred to services related to port operations, whereas major
purchasing included purchases of energy, pumping services, and insurance costs. As at 31 December 2023, Luka
Koper, d. d. recorded receivables of EUR 198,647 and liabilities of EUR 97,591,732 to such entities and the Luka
Koper Group recorded EUR 198,647 and EUR 97,578,150 respectively. The major part of liabilities was related to
loans given by SID – Slovenska izvozna in razvojna banka, d. d., and Nova Ljubljanska Banka, d. d., which were
raised under market conditions.
Transactions of Luka Koper, d. d. with its subsidiaries and associates
Related party transactions have been concluded under market conditions.
(in EUR)
2023
2022
Sale to subsidiaries:
Luka Koper INPO, d. o. o.
488,656
378,189
Luka Koper Pristan, d. o. o., in liquidation*
0
6,000
Adria Terminali, d. o. o.
569,880
609,623
TOC, d. o. o.
4,200
4,200
Adria Investicije, d. o. o.
828
828
Logis-Nova, d. o. o.
1,200
1,200
Sale to associates:
Adria Transport, d. o. o.
460,138
357,283
Adria-Tow, d. o. o.
136,793
111,723
Avtoservis, d. o. o.
1,432,505
1,598,573
Adriafin, d. o. o.
13,440
13,440
Total
3,107,640
3,081,059
* liquidation completed in 2022
(in EUR)
2023
2022
Purchase from subsidiaries:
Luka Koper INPO, d. o. o.
7,903,513
7,222,771
Luka Koper Pristan, d. o. o., in liquidation*
0
105
Adria Terminali, d. o. o.
4,800
14,400
TOC, d. o. o.
36,921
20,925
Adria Investicije, d. o. o.
66,085
79,082
Purchase from associates:
Adria Transport, d. o. o.
1,095
800
Adria-Tow, d. o. o.
66,976
73,701
Avtoservis, d. o. o.
883,960
879,555
Total
8,963,350
8,291,339
* liquidation completed in 2022
322 Annual report 2023
A substantial part of purchases from subsidiaries refers to the company Luka Koper INPO, d. o. o., which carried
out maintenance work on the port infrastructure and electrical installation work for the Company.
(in EUR)
31 Dec 2023
31 Dec 2022
Trade and other receivables due from subsidiaries:
Luka Koper INPO, d. o. o.
450,385
514,104
Adria Terminali, d. o. o.
52,144
53,608
TOC, d. o. o.
427
127
Adria Investicije, d. o. o.
84
84
Logis-Nova, d. o. o.
122
122
Trade and other receivables due from associates:
Adria Transport, d. o. o.
46,056
33,236
Adria-Tow, d. o. o.
567,226
13,170
Avtoservis, d. o. o.
268,297
366,221
Adriafin, d. o. o.
1,366
1,366
Total
1,386,107
982,038
(in EUR)
31 Dec 2023
31 Dec 2022
Trade payables due to subsidiaries:
Luka Koper INPO, d. o. o.
702,037
791,702
Adria Terminali, d. o. o.
986
1,464
TOC, d. o. o.
8,190
3,900
Adria Investicije, d. o. o.
6,034
0
Trade payables due to associates:
Adria-Tow, d. o. o.
0
7,211
Avtoservis, d. o. o.
82,350
71,653
Total
799,597
875,930
Finance income from shares in subsidiaries and associates is presented in more detail in Note 9 ‘Finance income
and finance expenses’.
Transactions of the Luka Koper Group with its associates
Income statement items from transactions with associates
Luka Koper Group
(in EUR)
2023
2022
Net revenue from sales to associates
2,044,904
2,081,240
Cost of material purchased from associates
106,283
86,506
Cost of services performed by associates
966,413
869,810
Profit of associates
1,770,468
1,734,286
Items of the statement of financial position to associates
Luka Koper Group
(in EUR)
2023
2022
Non-current investments except loans to associates
16,898,490
16,361,004
Current operating receivables due from associates
882,945
413,994
Current operating liabilities to associates
82,350
78,865
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 323
Note 32. Financial instruments and financial risk management.
Financial risks to which the Company/Group is exposed to include:
1. Risk of change in fair value,
2. Interest rate risk,
3. Liquidity risk,
4. Currency risk,
5. Credit risk, and
6. Risk of adequate capital structure.
In the Company/Group, the management of financial risks has been organised within the departments of finance
and accounting, since accounts of subsidiaries are also kept within the controlling company. The existing economic
environment makes forecasting future financial categories quite demanding, introducing into the planned
categories a higher degree of unpredictability and, consequently, a higher level of risk. The Company/Group has
consequently tightened the control over individual financial categories.
Financial Instruments
Luka Koper, d. d.
Luka Koper Group
(in EUR)
Carrying
amount at
31 Dec 2023
Carrying
amount at
31 Dec 2022
Carrying
amount at
31 Dec 2023
Carrying
amount at
31 Dec 2022
Non-derivative financial assets at fair value
Financial assets at fair value through profit or
loss
9,726,548
4,205,892
12,212,323
6,691,667
Financial assets at fair value through other
comprehensive income
47,736,700
41,552,427
47,736,700
42,297,460
Non-derivative financial assets at amortised
cost
Financial claims
69,474,594
1,717
69,474,594
7,274
Operating receivables (excluding receivables
due from the state, advances and collaterals
given)
51,481,810
52,517,409
52,228,594
52,918,041
Assets from contracts with customers
253,653
0
253,653
0
Cash and cash equivalents
53,282,798
69,095,661
81,628,977
94,749,216
Total non-derivative financial assets
231,956,103
167,373,106
263,534,841
196,663,658
Non-derivative financial liabilities at
amortized cost
Bank loans and other financial liabilities
109,172,605
62,651,556
109,172,605
62,651,556
Lease liabilities
943,321
1,128,073
827,869
1,006,969
Operating liabilities (excluding other non-
current and current liabilities, current
liabilities to the state, employees and from
advances and collaterals)
30,912,950
28,903,041
30,814,336
28,849,037
Total non-derivative financial liabilities
141,028,876
92,682,670
140,814,810
92,507,562
1. Risk management and change in fair value
Luka Koper, d. d. Company
At the end of 2023, 7.8% of the Company’s assets were financial investments measured at fair value (year-end of
2022: 6.9%). The change in fair value risk associated with investments in securities is demonstrated through
fluctuations in stock market prices that affect the value of these assets and, consequently the potential capital gain
on their disposal, and with investments in shares of other companies there is a risk for the sales value not to equal
the value of the market transaction. This type of risk has been recognised with regard to investments in market
securities of successful Slovenian companies and to investments in shares and interests.
As at 31 December 2023, the value of non-current investments at fair value amounted to EUR 57,463,248.
Sensitivity analyses of financial investments at fair value are not disclosed by the Company due to the insignificance
of financial investments at fair value, which are classified as level 3.
324 Annual report 2023
Fair value hierarchy in 2023
Luka Koper, d. d.
(in EUR)
Carrying
amount at
31 Dec 2023
Fair value
as at 31 Dec
2023
Direct stock
market
quotation
(Level 1)
Value based
on
comparable
market
inputs
(Level 2)
No
observable
market
inputs
(Level 3)
Non-current financial assets
Other non-current investments*
57,463,248
57,463,248
55,691,517
0
1,771,731
Non-current operating receivables**
39,991
39,991
0
0
39,991
Current financial assets
Current loans, deposits and treasury
bills**
69,474,594
69,474,594
0
0
69,474,594
Non-current financial liabilities
Non-current loans and borrowings**
93,979,370
93,979,370
0
0
93,979,370
Non-current operating liabilities**
98,146
98,146
0
0
98,146
Current financial liabilities
Current loans and borrowings**
15,193,235
15,193,235
0
0
15,193,235
Other current financial liabilities**
18,077
18,077
0
0
18,077
*measured at fair value
**presented at fair value
Fair value hierarchy in 2022
Luka Koper, d. d.
Carrying
amount
as at 31
Dec 2022
Fair value
as at
31 Dec 2022
Direct stock
market
quotation
(Level 1)
Value based
on
comparable
market
inputs
(Level 2)
No
observable
market
inputs
(Level 3)
Non-current financial assets
Other non-current investments*
45,758,319
45,758,319
44,098,319
0
1,660,000
Non-current operating
receivables**
39,991
39,991
0
0
39,991
Current financial assets
Current loans given**
1,717
1,717
0
0
1,717
Non-current financial
liabilities
Non-current loans and borrowings**
54,315,463
54,315,463
0
0
54,315,463
Non-current operating
liabilities
1,105,802
1,105,802
0
0
1,105,802
Current financial
liabilities
Current loans and borrowings**
8,336,093
8,336,093
0
0
8,336,093
Other current financial
liabilities**
21,564
21,564
0
0
21,564
*measured at fair value
**presented at fair value
The carrying amount of current receivables, cash and current liabilities represents a good approximation of fair
value, therefore, these are not disclosed in the table above.
Shares and interests measured at fair value (Level 1) were valued at publicly applicable exchange rates of the
Ljubljana Stock Exchange and mutual funds quotations.
In 2023, the Company verified the fair value of other shares and holdings classified at Level 3 with a valuation carried
out by an independent authorised company value appraiser. Valuation reports for the purpose of financial reporting
were prepared in accordance with the hierarchy of valuation rules, international valuation standards and the
guidelines of the Slovenian Institute of Auditors, based on public data on the operations and assets of the evaluated
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 325
company, publicly announced and disclosed strategic directions of the company and on based on the findings from
analyses of industry trends and indicators. The discounted cash flow method was used for the valuation, or the net
asset value method when the conditions for using the discounted cash flow method were not met.
Luka Koper Group
At the year-end of 2023, 7.7% of the Group’s assets were financial investments measured at fair value (year-end of
2022: 7.0%). The change in fair value risk associated with investments in securities is demonstrated through
fluctuations in stock market prices that affect the value of these assets and, consequently the potential capital gain
on their disposal, and with investments in shares of other companies there is a risk for the sales value not to equal
the value of the market transaction. This type of risk has been recognised with regard to investments in market
securities of successful Slovenian companies and to investments in shares and interests.
As at 31 December 2023, the value of non-current investments at fair value amounted to EUR 59,949,023.
Sensitivity analyses of financial investments at fair value are not disclosed by the Group due to the insignificance of
financial investments at fair value, which are classified as level 3.
Fair value hierarchy in 2023
Luka Koper Group
(in EUR)
Carrying
amount at
31 Dec 2023
Fair value
as at
31 Dec 2023
Direct stock
market
quotation
(Level 1)
Value based
on
comparable
market
inputs
(Level 2)
No
observable
market
inputs
(Level 3)
Non-current financial assets
Other non-current investments*
59,949,023
59,949,023
55,691,517
0
4,257,506
Non-current loans given**
0
0
0
0
0
Non-current operating
receivables**
39,991
39,991
0
0
39,991
Current financial assets
Current loans, deposits and treasury
bills**
69,474,594
69,474,594
0
0
69,474,594
Non-current financial liabilities
Non-current loans and
borrowings**
93,979,370
93,979,370
0
0
93,979,370
Non-current operating liabilities**
82,544
82,544
0
0
82,544
Current financial liabilities
Current loans and borrowings**
15,193,235
15,193,235
0
0
15,193,235
Other current financial liabilities**
18,077
18,077
0
0
18,077
*measured at fair value
**presented at fair value
326 Annual report 2023
Fair value hierarchy in 2022
Luka Koper Group
Carrying
amount
as at
31 Dec 2022
Fair value
as at
31 Dec 2022
Direct stock
market
quotation
(Level 1)
Value based on
comparable
market inputs
(Level 2)
No
observable
market inputs
(Level 3)
Non-current financial assets
Other non-current
investments*
48,989,127
48,989,127
44,843,352
0
4,145,775
Non-current loans given**
5,557
5,557
0
0
5,557
Non-current operating
receivables**
39,991
39,991
0
0
39,991
Current financial assets
Current loans given**
1,717
1,717
0
0
1,717
Non-current financial
liabilities
Non-current loans and
borrowings**
54,315,463
54,315,463
0
0
54,315,463
Non-current operating
liabilities
1,145,239
1,145,239
0
0
1,145,239
Current financial
liabilities
Current loans and
borrowings**
8,336,093
8,336,093
0
0
8,336,093
Other current financial
liabilities**
21,564
21,564
0
0
21,564
*measured at fair value
**presented at fair value
The carrying amount of current receivables, cash and current liabilities represents a good approximation of fair
value, therefore, these are not disclosed in the table above.
Shares and interests measured at fair value (Level 1) were valued at publicly applicable exchange rates of the
Ljubljana Stock Exchange and mutual funds quotations.
In 2023, the Group verified the fair value of other shares and holdings classified at Level 3 with a valuation carried
out by an independent authorised company value appraiser. Valuation reports for the purpose of financial reporting
were prepared in accordance with the hierarchy of valuation rules, international valuation standards and the
guidelines of the Slovenian Institute of Auditors, based on public data on the operations and assets of the evaluated
company, publicly announced and disclosed strategic directions of the company and on based on the findings from
analyses of industry trends and indicators. The discounted cash flow method was used for the valuation, or the net
asset value method when the conditions for using the discounted cash flow method were not met.
2. Management of interest rate risk
With respect to its liabilities structure, the Company/Group also faces interest rate risk since an unexpected growth
in variable interest rates can have an adverse effect on the planned results.
Luka Koper, d. d. Company
As at 31 December 2023, the percentage of financial liabilities (excluding other financial liabilities) increased in the
overall structure of the Company’s liabilities from 9.5% at the end of the previous year to 14.9%. The effect of
possible variable interest rates changes on future profit and loss after taxes is shown in the table below.
Possible interest rate fluctuations would consequently have an impact on 28.1 percent (year-end of 2022: 54.7%) of
Company’s total borrowings. The remaining 71.9% of borrowings were concluded with a fixed interest rate.
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 327
Overview of exposure
(in EUR)
31 Dec 2023
Exposure on
31 Dec 2023
31 Dec 2022
Exposure on
31 Dec 2022
Borrowings received at a variable
interest rate (without interest rate
hedge)
30,685,000
28.1%
34,295,000
54.7%
Borrowings received at a nominal
interest rate
78,487,606
71.9%
28,356,556
45.3%
Total
109,172,606
100.0%
62,651,556
100.0%
Sensitivity analysis of borrowings from banks in view of the variable interest rate fluctuations:
(in EUR)
Non-hedged
bank
borrowings
with a
variable
interest
rate
Increase by
15 bp
Increase by
25 bp
Increase by
50 bp
Increase by
100 bp
Increase by
150 bp
Balance at 31 Dec 2023
3M EURIBOR
30,685,000
46,028
76,713
153,425
306,850
460,275
Total effect on interest
expenses
30,685,000
46,028
76,713
153,425
306,850
460,275
Balance at 31 Dec 2022
3M EURIBOR
34,295,000
51,443
85,738
171,475
342,950
514,425
Total effect on interest
expenses
34,295,000
51,443
85,738
171,475
342,950
514,425
The analysis of financial liabilities’ sensitivity to changes in variable interest rates was based on assumptions of
potential growth in interest rates of 15, 25, 50, 100 and 150 base points. At the year-end of 2023, the Company’s
borrowings subject to the movement of the 3M Euribor were not hedged against interest rate risk.
Luka Koper Group
The share of financial liabilities (excluding other financial liabilities) increased in the overall structure of the
Group’s liabilities from the initial 8.9% in 2022 to 14.1% at the year-end 2023. The effect of possible variable interest
rates changes on future profit and loss after taxes is shown in the table below.
Possible interest rate fluctuations would consequently have an impact on 28.1% (2022: 54.7% percent) of Group’s
total borrowings. The remaining 71.9% of borrowings were concluded with a fixed interest rate.
Exposure review and sensitivity analysis of borrowings from banks in view of the variable interest rate fluctuations:
Among the Group companies, only the controlling company has borrowings and therefore the exposure review and
sensitivity analysis of borrowings from banks in view of the variable interest rate fluctuations is the same as for the
controlling company.
3. Management of liquidity risk
Liquidity risk refers to the risk that the Company/Group would fail to settle its liabilities at maturity. The
Company/Group manages liquidity risk by regular planning of cash flows required to settle liabilities with diverse
maturity. Additional measures for preventing delays in receivable collection include regular monitoring of
payments and immediate response to any delays, and also charging penalty interest in accordance with its uniform
receivables management policy.
328 Annual report 2023
Liquidity risk management in Luka Koper, d. d.
(in EUR)
Luka Koper, d. d.
Up to 3
months
3 to 12
months
1 to 2 years
3 to 5 years
Over 5
years
Total
31 Dec 2023
Loans and borrowings*
3,798,309
11,394,927
15,193,235
45,579,706
33,206,429
109,172,606
Expected interest on all
borrowings
412,662
1,226,032
1,429,189
2,933,171
1,080,917
7,081,971
Lease liabilities
110,895
302,989
368,841
160,596
0
943,321
Other financial liabilities
18,077
0
0
0
0
18,077
Total operating liabilities
38,088,889
0
0
0
0
38,088,889
Other operating liabilities
10,241,864
0
0
0
0
10,241,864
Total
52,670,696
12,923,948
16,991,265
48,673,473
34,287,346
165,546,728
31 Dec 2022
Loans and borrowings*
2,084,023
6,252,069
8,336,093
25,008,278
20,971,092
62,651,555
Expected interest on all
borrowings
200,238
855,564
925,408
1,970,060
943,309
4,894,580
Lease liabilities
100,662
286,050
326,241
415,120
0
1,128,073
Other financial liabilities
21,564
0
0
0
0
21,564
Total operating liabilities
35,442,876
0
0
0
0
35,442,876
Other operating liabilities
9,390,584
0
0
0
0
9,390,584
Total
47,239,947
7,393,684
9,587,742
27,393,458
21,914,402
113,529,232
Liquidity risk management in the Luka Koper Group
(in EUR)
Luka Koper Group
Up to 3
months
3 to 12
months
1 to 2 years
3 to 5 years
Over 5
years
Total
31 Dec 2023
Loans and borrowings
3,798,309
11,394,927
15,193,235
45,579,706
40,803,046
116,769,223
Expected interest on all
borrowings
406,848
1,137,023
1,340,509
2,828,011
1,212,139
6,924,531
Lease liabilities
96,470
258,367
312,436
160,597
0
827,869
Other financial liabilities
18,077
0
0
0
0
18,077
Total operating liabilities
38,491,553
0
0
0
0
38,491,553
Other operating liabilities
10,881,940
0
0
0
0
10,881,940
Total
53,693,197
12,790,316
16,846,180
48,568,315
42,015,186
173,913,193
31 Dec 2022
Loans and borrowings
2,084,023
6,252,069
8,336,093
25,008,278
20,971,092
62,651,555
Expected interest on all
borrowings
196,551
549,311
652,535
1,377,306
649,672
3,425,375
Lease liabilities
84,624
223,839
283,387
415,120
0
1,006,969
Other financial liabilities
21,564
0
0
0
0
21,564
Total operating liabilities
35,878,090
0
0
0
0
35,878,090
Other operating liabilities
9,946,847
0
0
0
0
9,946,847
Total
48,211,699
7,025,220
9,272,014
26,800,704
21,620,764
112,930,400
4. Management of currency risk
The risk of changes in foreign exchange rates arises from trade receivables denominated in US dollars (USD). In
the Company/Group, receivables denominated in US dollars are negligible due to the small amount of invoiced
realization in USD, based on which the Company/Group has opted not to hedge this item.
5. Management of credit risk
Management of the risk of default by the debtor or the counterparty, i.e., the credit risk, has gained in importance
in recent years, which is why the Company/Group has opted to take additional measures in managing this type of
risk. This is because customer defaults are being passed on to economic entities, much like a chain reaction, which
significantly reduces the assessed probability of timely inflows and increases additional costs of financing the
operation. In addition to the accelerated collection-related activities that were introduced in recent years and
consistent monitoring of trade receivables past due, an automated system for monitoring open claims and credit
Additional Notes to the Statement of Financial PositionAdditional Notes to the Statement of Financial PositionAnnual report
2023 329
limits set for customers is being implemented. In case of customers regarding which the Company/Group detects
late payments and inconsistency in observing adopted business agreements, an advance payment system is set up
for all ordered services with the aim of avoiding the late-payment culture. The latter area is positively impacted by
the specific structure of Company’s/Group’s customers, which are predominantly major companies, freight
forwarders and forwarding agents that have been the Company’s/Group’s business partners for a number of years.
Certain receivables have been secured by the Company/Group with collaterals, which are returned to the
customers once all obligations have been settled or cooperation has been terminated. The Company/Group has a
permanent trade receivables insurance policy covering the major part of its short-term trade receivables from
customers incurred in the controlling company from 1 January 2023 and of the subsidiary Adria Terminali, d. o. o.
from 1 April 2023.
Exposure to credit risk
(in EUR)
Luka Koper, d. d.
Luka Koper Group
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
Non-current loans given
0
0
0
5,557
Non-current operating receivables
39,991
39,991
39,991
39,991
Current loans, deposits and treasury bills
given
69,474,594
1,717
69,474,594
1,717
Current trade receivables
50,216,207
52,037,995
50,623,908
52,404,304
Other receivables
5,243,013
3,764,115
5,624,383
3,946,631
Cash and cash equivalents
53,282,798
69,095,661
81,628,977
94,749,216
Total
178,256,603
124,939,479
207,391,853
151,147,416
6. Management of risk relating to adequate capital structure
The Company/Group has set a goal of the optimal capital structure with a debt to liability ratio below 55 percent.
(in EUR)
Luka Koper, d. d.
Luka Koper Group
(in EUR)
31 Dec 2023
31 Dec 2022
31 Dec 2023
31 Dec 2022
in EUR
Share
(%)
in EUR
Share
(%)
in EUR
Share
(%)
in EUR
Share
(%)
Own funds
505,347,400
68.9%
480,225,780
72.5%
543,052,948
70.2%
515,732,169
73.6%
Non-current
liabilities
154,012,244
21.0%
107,788,799
16.3%
155,667,161
20.1%
109,603,310
15.6%
Current liabilities
74,079,436
10.1%
74,666,277
11.3%
75,332,720
9.7%
75,818,749
10.8%
Equity and
liabilities
733,439,080
100.0%
662,680,856
100.0%
774,052,829
100.0%
701,154,228
100.0%
Note 33. Transactions with the audit firm
The contractual value of auditing the annual report, rendered for the Company for the financial year 2023 by BDO
revizija d. o. o., is recorded at EUR 32,510 (exclusive of VAT), whereas the value of auditing the annual report for the
Group amounted to EUR 67,325 (exclusive of VAT). BDO Revizija, d. o. o. provided the Company with other services
of auditing, i.e., auditing the remuneration report, auditing the financial statements for the public utility service of
regular maintenance of port infrastructure intended for public transport and public utility service of collecting
waste from vessels, as well as auditing the calculation and compliance with financial commitments, the total value
of which was EUR 3,985 (exclusive of VAT). Other auditing services for the financial year 2023 for the Group
amounting to EUR 5,230 (exclusive of VAT) include providing assurance on the report on relations with associated
companies and report on the use of public funds received due to the disabled employees, which alongside the
assurance provided to the Company was carried out for the Group by BDO revizija, d. o. o. In 2023, the auditing of
ESEF statements is included in the value of auditing the annual report, whereas in the previous year it was charged
among other auditing services.
(in EUR)
Luka Koper, d. d.
Luka Koper Group
2023
2022
2023
2022
Auditing the annual report
32,510
24,805
67,325
43,337
Other audit services
3,985
11,200
5,215
12,266
Total
36,495
36,005
72,540
55,603
330 Annual report 2023
35 Statement of Accumulated Profit
In 2023, the controlling company Luka Koper, d. d. generated a net profit of EUR 54,450,022. At the end of the
financial year, the Company’s Management Board earmarked half of the profit in the amount of EUR 27,225,011 to
other revenue reserves pursuant to Article 230, Paragraph 3 of the Companies Act. The company established that
the accumulated profit in 2023 was EUR 43,878,553.
(in EUR)
31 Dec 2023
31 Dec 2022
Retained net profit
16,653,542
13,596,751
Profit for the period
54,450,022
73,266,227
Increase in revenue reserves
-27,225,011
-36,633,114
Total accumulated profit
43,878,553
50,229,864
Relevant events after the end of the financial yearRelevant events after the end of the financial year Annual report 2023 331
36 Relevant events after the end of the
financial year
There have been no significant events affecting the financial position of the Company/Group since the date of the
statement of financial position.
332 Annual report 2023
37 Independent Auditor’s Report
Independent Auditor’s ReportIndependent Auditor’s Report Annual report 2023 333
334 Annual report 2023
Independent Auditor’s ReportIndependent Auditor’s Report Annual report 2023 335
336 Annual report 2023
Independent Auditor’s ReportIndependent Auditor’s Report Annual report 2023 337