Nordwind Airlines (North Wind)

Performance indicators

2024: Revenue growth by 26% to 66.4 billion rubles

At the end of 2024, Nordwind Airlines (LLC North Wind) recorded revenue of 66.37 billion rubles. For comparison, a year earlier, the figure was 52.4 billion rubles. Thus, there was an increase of 26.7%, as stated in the accounting documentation, which TAdviser got acquainted with at the end of April 2025.

The cost of sales year-on-year rose by 13.9% - from 46.95 billion rubles to 53.47 billion rubles. Revenues from the sale of products, goods, works and services increased by 19.9%, amounting to 59.87 billion rubles against 49.95 billion rubles in 2023. At the same time, payments to suppliers (contractors) for raw materials, materials, works and services decreased by 2.2% - from 49.27 billion rubles to 48.18 billion rubles. Expenses in connection with the remuneration of workers increased from 3.26 billion rubles to 6.04 billion rubles, that is, by 85.2%. Management expenses rose by 21.6% - from 1.13 billion rubles to 1.38 billion rubles, while commercial expenses decreased by 18.1% - from 993.91 million rubles to 813.97 million rubles.

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Фото: Nordwind Airlines

Nordwind Airlines gross profit jumped by 136.6% - from 5.45 billion rubles in 2023 to 12.9 billion rubles in 2024. Profit from sales increased by 222.1% - from 3.32 billion rubles to 10.71 billion rubles. Profit before tax soared by 281.6%, reaching 7.95 billion rubles against 2.08 billion rubles in 2023. Net profit showed an increase of 280.1% - from 1.72 billion rubles to 6.55 billion rubles.

Accounts receivable increased by 17.7%, amounting to 22.5 billion rubles as of December 31, 2024 against 19.12 billion rubles a year earlier. Accounts payable rose by 35.8% - from 29.33 billion rubles to 39.82 billion rubles. The report said that net assets on an annualized basis increased from 1.58 billion rubles to 8.13 billion rubles.^[1]

2023: Increase in annual revenue to 52.4 billion rubles

Based on the results of its work in 2023, Nordwind Airlines recorded revenue of 52.4 billion rubles against 42.66 billion rubles a year earlier. This is evidenced by the data of the Kontur. Focus service, which TAdviser got acquainted with in December 2024.

According to these materials, in 2023, the net profit of Severny Vet LLC reached 1.72 billion rubles, which almost exactly corresponds to the profit of a year ago. Gross profit in 2023 amounted to 5.45 billion rubles, while in 2022 such a loss was measured at 1.15 billion rubles. Profit from sales in 2023 turned out to be equal to 3.32 billion rubles against 3.15 billion rubles of loss from sales in 2022.

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Фото: Nordwind Airlines

The cost of sales of Severny Vet LLC in 2023 increased to 46.95 billion rubles from 43.81 billion rubles. The company's commercial expenses increased from 882.9 million to 993.9 million rubles, and management expenses from 1.11 billion to 1.13 billion rubles.

According to the Kontur. Focus service, in 2023, the airline's receivables increased to 19.12 billion rubles from 11.92 billion rubles a year earlier. Accounts payable also increased - from 19.12 billion to 29.33 billion rubles.

According to Anton Mattis, Deputy CEO of Nordwind, the average workload of the airline's flights in 2023 increased from 85.2% to 89%. Using the example of new flights from Novokuznetsk, where the airline's base airport is located, high congestion is noted on the flight to Kazan, which was launched in November 2022, he said.

Over 15 years of its operation, its aircraft have completed more than 317 thousand flights and transported more than 56.3 million passengers around the country and the world. The geography of the airline's flights is more than 200 destinations (by the end of 2023).

Notes