By the decision of KTG, the authorized capital of Klaipėdos konteinerių terminalas (Klaipeda container terminal), JSC is increased by 4.2 million euros up to 10 million euros, Malkų įlankos terminalas, JSC – by 2.5 million euros up to 3 million euros. The authorized capital of cargo terminals has been increased by distributing the profits of the terminals.
In total, since the beginning of 2021, KTG has allocated 8.7 million euros to increase the authorized capital of its subsidiaries. (on the day before the last day of 2020, the authorised capital of the subsidiary Seia JSC was increased by 2 million euros).
“Diversified operations of terminals and the ability to handle different cargoes are one of the main advantages of KTG, which helps to maintain stable growth of cargo handling results over the last five years. This year was completed the implementation of the Klaipėda container terminal 40 million euros investment program in new cargo handling equipment and infrastructure. We financed most of these investments through debt instruments. The aim of this step, when planning business development, as well as next year’s investments and the sources for their financing, is to ensure sufficient equity ratios in advance” says Vytautas Pikturna, CFO of KT grupė.
Despite the pandemic and the global economic slowdown, the total cargo turnover of KTG operated terminals in 2020 grew by almost 4 percent when compared to 2019, and exceeded 7 million tons of various cargoes. The consolidated group’s revenue in 2020 increased by 7 percent, when compared to 2019, and exceeded 45 million euros.
The capital increase is focused on the consistent development of terminals.