Sovcomflot still stable, but financial results in 2024 gradually decline

19.03.2024

Sovcomflot reported according to IFRS for 2023. The results were impressive.

Year-on-year data:

• Time charter equivalent revenue increased by 42% to $2.04 billion;

• Adjusted EBITDA showed an increase of 52% and increased to $1.57 billion;

• Profitability according to adjusted EBITDA at 68% against 55% a year earlier;

• Net profit showed an...