Net profit of Commercial Port of Vladivostok surged 17 times to RUB 11.5 billion in HI’23
The company’s throughput increased by 3.8% YoY to 6.3 million tonnes
Commercial Port of Vladivostok PJSC (CPV, a company of FESCO) says that its net profit in the first half of 2023 calculated according to Russian accounting standards, surged 17.2 times, year-on-year, to RUB 11.49 billion.
The company’s revenue increased by 21.7% to RUB 15.8 billion, gross income – by 22.4% to RUB 10.3 billion. Profit from sales grew by 26.5% to RUB 9.38 billion, cost increase reached 20.5% to RUB 5.5 billion.
In the first half of 2023, CPV handled 6.3 million tonnes of cargo, up 3.8%, year-on-year. Exports totaled 3.3 million tonnes (-9.3%), imports — 2.2 million tonnes (+22.5%), short-sea traffic — 0.8 million tonnes (+15.7%). The share of CPV in the throughput of all Far East ports of the Russian Federation, excluding handling of energy sources, was 26%.
According to the statement, the company’s share in handling of containers – 38.5%; automobiles and equipment - 63%; other cargoes — 27%.
The statement also says that on 20 January 2023, Supervisory Board of CPV approved the company’s development programme until 2031. It foresees the expansion of facilities to increase the capacity of terminals and railways.
Commercial Port of Vladivostok PAO (part of FESCO Transportation Group) is a stevedoring company operating Russia’s largest multipurpose port of the Far East. CPV specializes in handling container/general/bulk/Rо-Rо cargo. Annual throughput capacity of CPV is 5 million tonnes: general cargo / oil products, 150,000 vehicles and over 600,000 TEUs of containers. Commercial Port of Vladivostok operates 15 berths with a total length exceeding 3.2 km. In 2022, container throughput of CPV rose by 1.4%, year-on-year, to 768 thousand TEU.
