Q1 net income of Sovcomflot up 2.15 times, to $ 67.6m
First-quarter net income of Sovcomflot under International Financial Reporting Standards (IFRS) rose by 2.15 times as much from Q1, 2009 to $67.6 million, PortNews IAA reports citing the company statement. Revenues increased by 5% to $ 338 million, EBITDA declined by 17.5% to $141.4 million.
Net income of Sovcomflot (IFRS) in 2009 slumped by 46.6%, to $216.8 million. Gross receipt of the company fell by 25.2% to $1.222 billion, EBITDA shrank by 24.6% to $550 million.
Sovcomflot is Russia's largest shipping company, ranks first in the world in the segment of commodities carriers, the second - in Aframax vessels. The company has the largest in the world Ice Class vessels fleet. It is also top leading operator of Arctic shuttle tankers and ships - gas tankers with ice class. Sovcomflot operates its own fleet of 143 ships of total deadweight of 10.37 million tons.
Net income of Sovcomflot (IFRS) in 2009 slumped by 46.6%, to $216.8 million. Gross receipt of the company fell by 25.2% to $1.222 billion, EBITDA shrank by 24.6% to $550 million.
Sovcomflot is Russia's largest shipping company, ranks first in the world in the segment of commodities carriers, the second - in Aframax vessels. The company has the largest in the world Ice Class vessels fleet. It is also top leading operator of Arctic shuttle tankers and ships - gas tankers with ice class. Sovcomflot operates its own fleet of 143 ships of total deadweight of 10.37 million tons.