MOSCOW, April 29. /TASS/. Net loss of Globaltruck under International Financial Reporting Standards (IFRS) amounted to 1.1 bln rubles ($13.5 mln) in 2024 compared to 882 mln rubles in 2023, the company reported.

Revenue fell by 46.6% to 10.7 bln rubles. Cost of revenue dropped by 42.2% to 9.6 bln rubles.

"<…> This is a representative of ‘traditional’ logistics, a sector that was strongly affected by the market environment in 2024, with a sharp drop in rates amid growth of spending due to economy-wide factors. Globaltruck results vividly show the influence of the market on traditional carriers," the press service of Monopoly Group, which owns Globaltruck, said in a commentary.

"Globaltruck will continue developing inside the Monopoly platform, and it will be a company of the group with its own fleet, ensuring stable delivery of cargoes of all clients of our platform with any demand/supply ratio," the group added.

Globaltruck is one of the largest automotive cargo FTL carriers in Russia. Monopoly Group owns 75% of its shares.