Sovcomflot has published its IFRS results for January-December 2022.
Revenue for the period was up 20.6% year-on-year to $1,889 mn, time-charter equivalent (TCE) revenue up 31.2% to $1,437 mn.
EBITDA increased by 53.2% to $1,039 mn, operating profit was up 2.5-fold to $577.8 mn, and profit before tax surged 6.5-fold to $452.3 mn.
Profit for the period made $385.3 mn growing 10-8-fold year-on-year.
Deprecation, amortization and impairment increased by 8.7% to $490.9 mn, general and administrative expenses were down 11.9% to $81 mn, and financial expenses down 22.9% to $141.5 mn.
The Group’s debt was down 41.9% to $1,757.5 mn, and net debt down 61% to $928.3 mn.
Photo: Shipspotting / foggy