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Performance indicators

2023: Revenue growth 13.5 times to RUB 12.06 bln

Novoship, the largest Russian shipping company on the Black Sea, completed 2023 with a record revenue of 12.06 billion rubles, which is 13.5 times more than a year earlier. The previous maximum dated 2001 - then the company's revenue reached 2.91 billion rubles. Such data on RAS were published in March 2024.

According to Interfax, citing the reports of PJSC Novorossiysk Shipping Company, the company's net profit in 2023 amounted to 12.35 billion rubles, which is 70 times more than a year ago. Profit has been a record since at least 1999 (older data on financial performance in the Unified State Register of Legal Entities are missing). The previous maximum in net profit dated 2020, it amounted to 9.63 billion rubles.

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The cost of sales of Novoship in 2023 decreased by 14% compared to 2022 and amounted to 136.1 million rubles. Gross profit increased 16 times to 11.939 billion rubles, profit from sales - 27.7 times to 11.636 billion rubles.

According to the reporting, in 2023 Novoship received 11.89 billion rubles in the form of dividends from subsidiaries against 641.4 million rubles a year earlier. Revenues from the sale of non-current assets increased to 223.16 million rubles from 56 thousand rubles a year earlier.

Accounts receivable of PJSC Novorossiysk Shipping Company in 2023 increased from 12.5 million rubles to 426.9 million rubles, payables - from 448.7 million rubles to 11.57 billion rubles.

Novoship's operating cash flow for 2023 amounted to 384.62 million rubles. The company's investment cash flow was at the level of 6.6 billion rubles, and the balance of cash flows from financial operations turned out to be negative - minus 904.92 million rubles.^[1]

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