MOSCOW, RUSSIA – Adjusted net profit of Sovcomflot under International Financial Reporting Standards (IFRS) surged 4.1 fold in 2023 compared with 2022 to 83.5 billion rubles ($908 milion), the company reported.
“In the reporting period the company demonstrated strong financial results due to stable revenues amid its present portfolio of long-term contracts, as well as the operation of fleet amid high market environment,” the report said.
Profit totaled 79.55 billion rubles ($865 million). Earnings per share equaled 35.17 rubles, TASS reported.
Revenue increased by 22.6 percent in the reporting period to US$2.3 billion, while operating profit doubled to US$1.16 billion.