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 readLast updated: March 13, 2026
Quick Summary
Sovcomflot, Russia’s state-controlled tanker operator, reported a net loss of $648.4 million for full‑year 2025. Its EBITDA fell sharply to $526 million from $1.01 billion in 2024, and revenue declined to $1.06 billion from $1.87 billion a year earlier.
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 about Russian tanker group Sovcomflot says 2025 net loss at $648.4 million
1What was Sovcomflot’s net loss in 2025?
Sovcomflot’s net loss in 2025 amounted to $648.4 million.
2How much did Sovcomflot's EBITDA decrease in 2025?
Sovcomflot's EBITDA fell to $526 million from $1.01 billion in 2024.
3What were Sovcomflot's revenues in 2025 and 2024?
Sovcomflot's revenue was $1.06 billion in 2025, compared to $1.87 billion in 2024.
4Where is Sovcomflot based?
Sovcomflot is based in Russia.
