Sovcomflot’s revenue fell by 36% in nine months

Russia’s Sovcomflot reported a significant drop in revenue for the first nine months of 2025.

PJSC Sovcomflot’s revenue for the first nine months of 2025 under IFRS decreased by 36% year-on-year and amounted to $941 million, Russian media reported.

Revenues based on time charter equivalents decreased by 37% to $763 million.

The company’s EBITDA for the reporting period amounted to $390 million with a profitability of 51%. Adjusted net loss — excluding the non-monetary effect of the depreciation of the part of the fleet under sanctions and exchange rate differences — amounted to $8 million.

The company claims that, despite such results, it demonstrates “high resilience” thanks to a portfolio of long-term contracts and a diversified fleet structure.

USM previously reported that Lukoil lost about $10 billion in capitalization after US sanctions.