In January-March 2023, net loss of Krasnoye Sormovo PJSC (Nizhny Novgorod based shipyard of United Shipbuilding Corporation) calculated under Russian accounting standards (RAS) rose 2.6 times, year-on-year, to RUB 598.6 million, according to the shipyard’s corporate materials.
The company’s revenue decreased by half to RUB 1.45 billion. Accounts receivable increased by 5.5% — from RUB 13.5 billion to RUB 14.29 billion. Long-term liabilities reached RUB 13.7 billion vs RUB 12.8 billion in the same period of the previous year, short-term liabilities — RUB 12.48 billion vs RUB 12.55.
Krasnoye Sormovo PJSC is one of the oldest shipbuilding companies in Russia, founded in 1849. Throughout the 75-year period, more than three hundred submarines and rescue vehicles including 25 nuclear ones have been built and modernized by Krasnoye Sormovo shipyard. Today, Krasnoye Sormovo builds vessels of commercial fleet meeting the requirements of international conventions on reliability and safety.
In 2022, RAS net loss rose 2.1 times, year-on-year, to RUB 1.05 billion, revenues fell by 17% to RUB 8.88 billion.