Shares of Sovcomflot rose by 21.76% over two trading days and traded at a maximum of February 1 at 52.47 rubles per paper, according to the data of the Moscow Exchange. Later the growth slowed down to 13.88%, shares at 14:31 Moscow time cost 49.54 rubles.

Quotes of the Russian shipping company began to grow on Tuesday, January 31, after the unexpected release of financial results for the first nine months of 2022. Prior to that, Sovcomflot suspended the publication of statements.

In the first nine months of 2022, the company’s revenue increased by 20% compared to the same period of 2021, to $1.395 billion. Net profit increased 2.6 times, to $321 million, operating profit – by 125%, to $369 million. EBITDA increased by 46%, to $741 million. Net debt decreased by 66% and amounted to $809 million.