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Finance

Russian tanker group Sovcomflot says 2025 net loss at $648.4 million

Published by Global Banking & Finance Review

Posted on March 13, 2026

1 min read

· Last updated: April 1, 2026

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Russian tanker group Sovcomflot says 2025 net loss at $648.4 million

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MOSCOW, March 13 (Reuters) - Russia's state-controlled leading tanker group Sovcomflot said on Friday that its net loss in 2025 amounted to $648.4 million. The group's earnings before interest, tax,

Sovcomflot Suffers $648.4 Million Net Loss in 2025 as Revenue Declines

Financial Performance Overview

Net Loss in 2025

MOSCOW, March 13 (Reuters) - Russia's state-controlled leading tanker group Sovcomflot said on Friday that its net loss in 2025 amounted to $648.4 million.

EBITDA Decline

Comparison with Previous Year

The group's earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $526 million from $1.01 billion in 2024.

Revenue Drop

Year-on-Year Revenue Analysis

Sovcomflot's revenue in 2025 declined to $1.06 billion compared to $1.87 billion in 2024.

Reporting Source

(Reporting by Reuters)

Key Takeaways

The full‑year 2025 figures mark a sharp deterioration compared to strong performance in 2024, with EBITDA halved and revenue down by nearly 43%.
Western sanctions, including freezing of assets, blacklistings, and port restrictions, severely curtailed Sovcomflot’s operations, leading to impairments and fleet idling throughout 2025.(themoscowtimes.com)
Despite mounting losses, Sovcomflot maintained liquidity buffers and emphasized resilience through long‑term contracts and fleet diversification—but impairment charges continued to weigh on earnings.(bairdmaritime.com)

References

Frequently Asked Questions

What was Sovcomflot’s net loss in 2025?

Sovcomflot’s net loss in 2025 amounted to $648.4 million.

How much did Sovcomflot's EBITDA decrease in 2025?

Sovcomflot's EBITDA fell to $526 million from $1.01 billion in 2024.

What were Sovcomflot's revenues in 2025 and 2024?

Sovcomflot's revenue was $1.06 billion in 2025, compared to $1.87 billion in 2024.

Where is Sovcomflot based?

Sovcomflot is based in Russia.

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Russian tanker group Sovcomflot says 2025 net loss at $648.4 million

Sovcomflot Suffers $648.4 Million Net Loss in 2025 as Revenue Declines