Sovcomflot Posts Lower QoQ Profit for Q1 2024

Sovcomflot Posts Lower QoQ Profit for Q1 2024

  • Sovcomflot has published the general consolidated financial report for the first quarter of 2024.

    The Group’s revenue was down 2.3% quarter-on-quarter to $545.8 million, TCE revenue down 4.3% to $459 million, earnings on vessel operations down 3.9% to $355.3 million.

    EBITDA grew marginally by 0.5% to $344 million, while operating profit declined 4.8% to $222.7 million.

    Profit for the period made $216 million, down 10.4 quarter-on-quarter. Corrected profit was up 3.6% to $18.9 billion.

    Operating expense decreased 5.5% to $103.6 million, while general and administrative expense was up 12.2% to $21.1 million, and amortization up 12.8% to 111.3 million.

    Net debt made $234 million as of March 30, 2024.

    Photo: Shipspotting / Daniil


  • Leave a Reply

    Related content
    05.07.2024
    Container traffic via the Russian sea ports located in the Sea of Azov and […]
    28.11.2024
    The entire freight traffic via all the sea port of the Russian Federation amounted to 73.5 mn tons.
    13.05.2024
    During January-March 2024, cargo volume carried by all transport modes in the RF transport […]
    19.12.2024
    On week 51, freight rates in the Azov and Black Sea region continue to decline.
    04.12.2024
    In January-November 2024, Russian Railways loaded 1,082 mn tons of cargo.
    01.08.2024
    On week 31, freight rates have increased significantly in the Azov and Black Sea […]
  • Login
  • No Fields Found.