Board of Directors of PAO Sovcomflot recommends the AGM to approve the company results in 2020


On 14 April 2021, a meeting of the Board of Directors of PAO Sovcomflot was held.

The Board of Directors considered issues related to preparations for the Annual General Meeting of Shareholders (AGM).

The Board recommended the Annual General Meeting of Shareholders of PAO Sovcomflot to do the following:

  • to approve the company’s annual report and annual accounting reports for 2020;
  • to pay dividends on ordinary registered shares of PAO Sovcomflot based on the results of 2020 in the total amount of 15.8 billion rubles, which is 6.67 rubles per share;
  • to approve Ernst & Young LLC as the auditor of PAO Sovcomflot for 2021.

SCF Press Service

PAO Sovcomflot (MOEX:FLOT) is one of the world's leading energy shipping companies, specialising in the transportation of crude oil, petroleum products, and liquefied gas, as well as the servicing of offshore oil and gas production. As of the date of this release, the Group’s fleet comprises 145 vessels with a total deadweight of 12.7 million tonnes, including vessels owned through joint ventures. More than 80 vessels have an ice class.

SCF is involved in servicing large oil and gas projects in Russia and around the world: Sakhalin-1; Sakhalin-2; Varandey; Prirazlomnoye; Novy Port; Yamal LNG, and Tangguh (Indonesia). The Group is headquartered in St. Petersburg, with offices in Moscow, Novorossiysk, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, London, Limassol, and Dubai.

In 2020, SCF Group's net profit increased by more than 18 per cent year-on-year and amounted to USD 267 million, and corrected EBITDA grew by almost 10 per cent year-on-year to a record level of USD 903.4 million.