Moscow River Shipping Company

Performance indicators

2024: Revenue growth by 6% to RUB 2.28 bn

One of the largest shipping companies in the Russian Federation, the Moscow River Shipping Company (MCI), generated 2.28 billion rubles at the end of 2023, which is 6% more than a year earlier. Net profit in comparison with these segments of time decreased 2.6 times, to 34.9 million rubles. Such data on RAS were published in April 2024.

In 2023, MCI revenues from transportation by inland water transport, non-taxable VAT, reached 2.1 billion rubles, an increase of 12.7% compared to 2022. The cost of sales increased by 356.3 million rubles and reached 2.25 billion rubles.

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The company's gross profit at the end of 2023 amounted to 26.5 million rubles, which is almost 10 times less than the same profit recorded a year earlier (248.6 million rubles). The loss from MCI sales in 2023 reached 249.8 million rubles, while in 2022 there was a profit from sales at the level of 7.5 million rubles.

As of the end of 2023, the MCI had 1.76 billion rubles of assets, including 25 vessels (4 barges, 13 passenger vessels, 2 service and auxiliary vessels, 4 rack vessels, 2 units of the technical fleet). The balance sheet of the company contains receivables from a subsidiary (100% of ownership) of LLC MRP-Tanker in the amount of 701.4 million rubles.

The MCI reported that in 2023 the company's costs increased due to a series of mandatory and restoration repairs of the fleet during the preparation of ships for navigation. In addition, the company's financial results were affected by an increase in inflation and traffic intensity in 2023, which increased the cost of fuel, food, excursion services, as well as fleet maintenance costs. The MCI added that in 2023, the indexation of wages for crew members of ships was carried out by an average of 15%.^[1]

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