Sovcomflot has posted its consolidated IFRS financial results for Q2 and H1 of 2023.
In Q2, the Group’s revenue made $588.1 mn, TCE revenue made $528.3 mn, net earnings from vessels trading made $441.1 mn.
EBITDA for Q2 was $414.2 mn, operating profit was $311 mn, and profit for the period was $210.1 mn.
Operating expense amounted to $87.1 mn, general and administrative expense made $19.4 mn, amortization made $105.6 mn and financial expense $24.5 mn.
In H1 2023, revenue made $1.2 bn, TCE revenue was $1.1 bn, net earnings from vessels trading $912.4 mn.
EBITDA for H1 amounted to $866.6 mn, operating profit to $662.3 mn, and profit for the period to $496 mn.
Operating expense was $67.5 mn, general and administrative expense made $36.9 mn, amortization $206.7 mn and financial expense $48.7 mn.
Free cash flow for H1 2023 made $686 mn.
Net debt of the Group as of June 30, 2023 was $536 mn.
Photo: Shipspotting / foggy