Russian tanker operator Sovcomflot has published its consolidated financial statements for the nine months ended September 30, 2025.
The company reported time charter equivalent revenue of $763 million and an EBITDA of $390 million, resulting in a profit margin of 51 per cent.
The company, however, recorded an adjusted net loss of $8 million for the nine-month period, excluding the non-monetary effect of sanctions-related fleet impairments and foreign exchange losses.
For the third quarter of 2025, time charter equivalent revenue was $262 million, with an EBITDA of $126 million. The adjusted net loss for the third quarter was $27.5 million.
Sovcomflot stated that its business model demonstrates "high resilience" due to a portfolio of existing long-term contracts and a diversified fleet structure.
The company added that its stable financial position was confirmed by an increase in available cash liquidity and a negative net debt of $144 million. As of September 30, 2025, total assets stood at $6.49 billion, including $1.46 billion in cash and deposits.