Baltic Plant
Since 1856
Russia
North-West Federal District of the Russian Federation
St. Petersburg
199106, Oblique Line, 16.
Top managers:
Alexander Vasilyevich Konovalov
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Owners
The company specializes in the construction of warships, large-tonnage civilian vessels for the transportation of various goods and icebreakers (with nuclear power plants and diesel). The Company builds Ro Ro and Ro Pax cargo and passenger vessels, chemical tankers, bulk carriers, etc.
The presence of its own design and design services allows the Baltic Plant to offer a number of promising projects of its own development on the market. These are large-capacity tankers for transporting liquefied gas, multifunctional icebreaker supply vessels, nuclear and diesel floating power units, offshore technical support vessels, floating desalination complexes.
The company produces a wide range of marine power and mechanical engineering products, both for equipping ships and ships of its own construction, and for deliveries to other shipbuilding enterprises. The plant manufactures heat exchange equipment for nuclear power plants, is a supplier of colored and steel casting.
The quality management system of the Baltic Plant is certified for compliance with International Standards. The company has certificates from leading classification societies - Bureau Veritas Quality International, the Russian Maritime Register of Shipping, the German Lloyd and others.
The company's entry into the global shipbuilding market stimulated the comprehensive modernization of production. In 2003-2004, the plant put into commercial operation a new hull processing workshop, which allows processing up to 60 thousand tons of metal per year. Today, the Baltic Plant is a modern enterprise competing in the market not only with domestic, but also with leading world shipyards.
The plant is developing promising areas of activity and developing new technologies, invariably following the trends of the global shipbuilding market. The company is one of the first in Russia to introduce CALS technologies - a system for creating an electronic model of a ship that allows continuous information support of its life cycle.
The Baltic Plant is advantageously located in the western part of St. Petersburg, on Vasilievsky Island, at the mouth of the Bolshaya Neva River. The company covers an area of more than 650 thousand square meters. For the construction of ships, the company has three built-in places - two slipways and an indoor boathouse. The largest slipway in Russia with a length of 350 meters allows the company to build ships with a deadweight of up to 100,000 tons.
Performance indicators
2025: Losses - 564.5 million rubles
In 2025, the Baltic Plant (part of the United Shipbuilding Corporation) received a net loss of 564.5 million rubles, while at the end of 2024 the company recorded a net profit of 3.6 billion rubles. The relevant data is contained in the financial statements of the shipyard, which TAdviser got acquainted with in March 2026.
According to the report, the gross profit of the plant decreased by 46.4% - from 7.62 billion to 4.08 billion rubles. The uncovered loss of previous years as of January 1, 2026 approached 33 billion rubles. The value of the company's net assets remains negative: minus 3.5 billion rubles against minus 2.9 billion in 2024.
Due to the deterioration of financial indicators, the plant began to implement a financial recovery program. One of the key areas of the document is the subsidization and restructuring of problem debts in banks. In parallel, the company has a cost management program, designed until 2030.
The reporting also talks about the preparation of a comprehensive program of technical and economic development, which is planned to be approved in 2026. In addition, working documentation has already been obtained for the reconstruction of the hull processing and assembly and welding lines, preparations are underway for construction and installation work.
In 2025, the plant received 6.2 billion rubles of short-term loans from the parent company on preferential terms. At the same time, the volume of long-term bank loans (for a period of four years) increased by 78% - to 4.2 billion rubles. All new loans were provided by VTB Bank, which has been managing USC since the fall of 2023. Funds from the federal budget were not allocated to the enterprise; the amount of state support received was limited to payments from the Social Fund of the Russian Federation (44.5 million rubles for injury prevention) and 5.3 million rubles within the framework of city programs.[1][2]
2024: Revenue growth of 50% to ₽31,4 billion
The revenue of Baltic Plant JSC in 2024 reached a record ₽31,4 billion, an increase of 50% compared to the previous year. The company, part of the United Shipbuilding Corporation, presented its financial results in March 2025. General Director Alexander Konovalov noted that revenue growth is associated with the fulfillment of large orders in the field of icebreaking and military shipbuilding.
According to Delovoy Petersburg, despite a significant increase in revenue and a net profit of ₽3,659 billion, the financial situation of the enterprise remains difficult. In 2023, the plant completed with a loss of ₽18,98 billion, and the uncovered accumulated loss of previous years by January 1, 2025 amounted to ₽32,2 billion, which exceeds annual revenue.
The company's statements indicate that the value of net assets is negative and less than the value of the authorized capital, amounting to ₽2,9 billion as of January 1, 2025. This situation has remained for more than three years, which creates risks for the continuous operation of the company.
The auditor of the enterprise, Audit Firm Ural Union JSC, in its conclusion confirmed "significant uncertainty regarding the continuity of operations" of the plant. The document notes: "There is significant uncertainty associated with events or conditions that may cause significant doubts about the ability of the organization to continue its continuous activities and, therefore, that the organization may not be able to realize its assets and fulfill obligations in the ordinary course of business."
The profitability of the enterprise's assets for 2024 amounted to 2.9%, which was recognized in the reporting as a low indicator. The auditor also drew attention to the company's stable negative cash flow balance.[3]
History
2024
Appointment of Alexander Konovalov as general director
In April 2024, JSC Baltic Plant"" (part of United Shipbuilding Corporation"," USC) announced a change in CEO. He was appointed Alexander Konovalov instead, Yuri Gordienkov who led the enterprise since May 2023. More. here
Allocation of 22 billion rubles by the Government of the Russian Federation for the construction of three icebreakers
The Russian government will allocate 22 billion rubles to Baltic Plant JSC (part of USC JSC). This was announced on April 3, 2024 by Prime Minister Mikhail Mishustin, speaking with a report in the State Duma.
The funds will go to the construction of serial icebreakers of project 22220. The project includes the Leningrad icebreaker, which was laid on January 26, 2024, the Chukotka icebreaker, laid down in December 2020, and Yakutia (the bookmark took place in May 2020). During the laying of the Leningrad icebreaker, Vladimir Putin announced the construction of another icebreaker, called Stalingrad.
 | Three universal nuclear icebreakers are being built at the Baltic Plant in St. Petersburg, you know about this, in March we decided to allocate almost 22 billion rubles so that such work could continue, Mishustin said. |  |
Project 22220 nuclear icebreakers have a capacity of 60 MW and are the largest and most powerful vessels of this type in the world. The length of icebreakers reaches 173.3 meters, width - 34 meters. The displacement of the ship is 33.5 thousand tons. Icebreakers are able to conduct caravans of ships in Arctic conditions, breaking through ice up to 3 meters thick. It is planned that the vessels of project 22220 will provide the passage of vessels with hydrocarbon raw materials from the fields of the Yamal and Gydan peninsulas, as well as from the Kara Sea shelf.
Project 22220 icebreakers are designed to conduct ships in the Arctic in the sections of the Yenisei and Ob Bay. In addition, they are able to tow ships and other floating structures in ice and on clean water. The project has been implemented since 2013, during which time the icebreakers Arktika (lead), Sibir and Ural were built. They are part of the Russian nuclear icebreaker fleet.[4]
Notes
- ↑ The net loss of the Baltic Plant at the end of 2025 amounted to 564.5 million rubles
- ↑ The St. Petersburg plant accumulated ₽33 billion losses and began to recover
- ↑ Baltic plant announced the threat of bankruptcy amid record revenue
- ↑ The government will allocate 22 billion rubles to the Baltic Zavod. For icebreakers of the 22220 series
See also
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