Sovcomflot has published a general consolidated financial report for the first quarter of 2025.
The Group’s revenue declined 30% quarter-on-quarter to $274 million, TCE revenue was down 30% to $222 million.
EBITDA decreased by 44.7% quarter-on-quarter to $105 million, loss for the period made $393 million, up 4.9-fold.
Corrected IFRS loss was 104 million rubles ($1.3 million) compared to corrected IFRS profit of 2.9 billion rubles for Q4 2024.
Operating expense decreased 8.4% to $98 million, general and administrative expense increased 4.8% to $22 million.
Net debt as of March 31, 2025 amounted to $52 million.
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