Второй квартал был для «Совкомфлота» успешнее первого

Sovcomflot Posts Profit for Q2

  • Sovcomflor has released its Condensed Consolidated Interim Financial Statements for the periods ended 30 June 2021. “The industrial business performance maintained a stable upward trend, while the conventional segment’s performance remained muted reflecting unfavourable market conditions in spot tanker markets,” the Group said in a statement.

    Revenue for H1 2021 declined 20.1% to make $759.8 mn. H1 2021 time-charter equivalent (TCE) revenue was $559.9 mn, down 28.5% year-on-year.

    Vessels’ running costs declined slightly by 0.2% to $170.1 mn, deprecation, amortization and impairment increased by 5.6% to $241.7 mn, general and administrative expenses were down 3.8% to $44.3 mn.

    EBITDA was down 42.2% to $337.2 mn, operating profit down 72.5% to $97.4 mn, and profit for the period down 40.4-fold to $5.6 mn.

    Q2 2021 revenue was $397 mn, 9.4% above that recorded for Q1 2021. Q2 2021 time-charter equivalent (TCE) revenue made $284.9 mn, up 3.6% on Q1 2021.

    Q2 2021 EBITDA was $181.2 mn, up 16.2% quarter-on-quarter, operating profit made $41.5 mn, down 25.9% quarter-on-quarter, and profit for the period was $7.3 mn compared to a loss of $1.7 mn for Q1 2021.

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