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Sovcomflot posts $496 mln net profit under IFRS for 1H 2023

The company remains committed to the policy of paying 50% of dividends from adjusted net profit under IFRS in rubles, the press service noted

MOSCOW, August 28. /TASS/. Net profit of Sovcomflot under International Financial Reporting Standards (IFRS) amounted to $496 mln in 1H 2023, and to $210.1 mln in Q2, the company’s press service reported.

Revenue in time charter equivalent totaled $1.08 bln in the first half of this year.

The company remains committed to the policy of paying 50% of dividends from adjusted net profit under IFRS in rubles, Sovcomflot noted.

Sovcomflot Group is one of the world's leading energy shipping companies, focusing on the transportation of liquefied gas, crude oil, and petroleum products, as well as the servicing of offshore upstream energy production.

The state is the main shareholder of Sovcomflot, holding 82.8% of shares. Minority shareholders own 15.6% of shares, while 1.6% of shares are on the balance sheet of a subsidiary.

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