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Investment program of Sovcomflot for 2024 estimated at up to $600 mln — CEO

Earlier, the company reported that its net profit under International Financial Reporting Standards soared more than ten-fold

ST. PETERSBURG, September 25. /TASS/. Investment program of Sovcomflot for 2024 is estimated at $500-600 mln, Chief Executive Officer Igor Tonkovidov said in an interview with TASS.

"Our investment program is quite stable. It is estimated at an average of $500-600 mln each year," he said when asked about the company’s projected investment program for 2024.

Earlier, the company reported that its net profit under International Financial Reporting Standards (IFRS) soared more than ten-fold in 2022 compared with 2021 to $385 bln.

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 is on the balance sheet of a subsidiary.

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