Net operating result of the Port in Kotor exceeded one million at the end of September. Market value of the share capital amounted to €3,31 million.
As report on the operation of the company states, in the first three quarters of 2019, value of company’s assets amounted to €10,46 million and its greatest part referred to the permanent property, worth €6,19 million. Around €3,07 million referred to the real estate, facilities and equipment, €2,89 million referred to non-material investment and €230.764 referred to long-term financial placements. Current assets amounted to €4,27 million and the sum referred to short-term claims and cash.
On the last day of September, total capital of the company amounted to €7,12 million. Around €3,31 million referred to the initial capital. Revalued reserves and unrealized sale reached €1,28 million whereas retained earnings amounted to €2,26 million. Long-term liabilities reached €2,8 million and short-term liabilities were €425.690.
Operating income amounted to €2,85 million in the first nine months. Expenditures amounted to €1,79 million. Around €1,12 million accounted for the employees’ salaries, depreciation “took” €398.571, whereas material costs amounted to €79.097.
Operating performance of the Port of Kotor was positive, with €1,05 million.
Inflow of cash assets amounted to €1,89 million, and it was mostly based on sale of goods and services. Outflow amounted to €1,77 million. The company earmarked €230.355 for the purposes of administration and other charges. At the end of the reporting period, net operating result amounted to €123,317.
Negative indicators refer to the net cash flow, showing the loss in the amount of €513.389, as a consequence of dividend payment (€418.631). Also cash was used for different investment projects.
Majority owner of the port (56,97%) is the Assembly of the town. Pension and disability fund has 17,51% of shares, employment agency has 5,87%, whereas owner of summary custody account in CKB bank has 11,27% of shares. Mr Ranko Krivokapić, former president of Montenegro’s Parliament and leader of Socialist Democratic Party, owns 1,99% of port’s shares.
