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Performance indicators

2024: Halving revenue to $ ₽6,34 billion

The revenue of the largest Russian shipping company on the Black Sea Novoship in 2024 almost halved, reaching ₽6,34 billion. Compared to the previous 2023, the decline was 1.9 times. The financial results are disclosed in the company's statements published on March 4, 2025.

According to Interfax, Novoship's net profit under RAS also decreased by 1.93 times compared to 2023 and amounted to ₽6,34 billion. In 2023, the company received a record net profit of ₽12,351 billion.

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Фото: Freepik

The explanations to the statements indicate that the decrease in financial indicators is largely due to a decrease in income in the form of dividends from subsidiaries. If in 2023 the company received ₽11,89 billion under this article, then in 2024 these revenues amounted to only ₽6,2 billion.

The cost of sales of the shipping company in 2024 also decreased by 12.6% and amounted to ₽118,934 million. The company's gross profit fell 1.9 times to ₽6,224 billion, and sales profits almost halved to ₽5,934 billion.

At the same time, interest receivable in 2024 showed an increase of 28% and amounted to ₽580,96 million. Other revenues of the company significantly decreased - 23 times to ₽20,9 million, and other expenses decreased 1.9 times to ₽61,884 million.

Novoship's accounts receivable decreased from ₽426,87 million as of December 31, 2023 to ₽254,353 million as of December 31, 2024. Accounts payable also showed a decrease - from ₽11,57 billion to ₽6,762 billion in the same period.

The decline in financial performance of Novoship comes after a record 2023, when the company showed the highest results in its history. A significant decrease in dividend revenues from subsidiaries was a key factor that influenced the final financial results of the shipping company.^[1]

2023: Revenue growth 13.5 times to RUB 12.06 billion

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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Фото: Unsplash

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.^[2]

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