Sovcomflot has published the general consolidated financial report for 2023.
Tee Group’s revenue was up 22.6% year-on-year to $2.3 billion, TCE revenue up 42.3% to $2 billion, earnings on vessel operations up 47% to $1.7 billion.
EBITDA grew 51.9% to $1.6 billion, and operating profit doubled to $1.2 billion.
Profit for the period made $943.3 million, up 2.4-fold year-on-year. Corrected profit was up 4.1-fold to $83.5 billion.
Operating expense increased 24.4% to $371.4 million, while general and administrative expense was down 10% to $72.9 million, amortization down 16% to 412.2 million, and financial expense down 34.2% to $93 million.
Net debt made $257.1 million as of December 31, 2023.
Photo: Shipspotting / foggy