Net profit of Slavansky Ship Repair Yard in 2021 rose by 20%
Ship repair companies highly depend on supplies of spare parts and equipment, particularly foreign ones
In 2021, net profit of Primorsky Territory based Slavansky Ship Repair Yard PJSC totaled RUB 2.2 million according to Russian Accounting Standards, which is a 20-pct increase, year-on-year. According to the company’s financial report, its revenues in rose by 27% to RUB 872.7 million.
In 2021, the company repaired 11 ships with state orders making 63.3%. As part of the company’s diversification programme, Slavansky Ship Repair Yard conducted some shipbuilding works with revenues from those works making about 28% of the total revenues.
The company emphasizes that VAT is the most acute issue in the ship repair sector. Only small companies involved in repair works at ports are provided with VAT privileges. Besides, today ship repair companies highly depend on supplies of spare parts and equipment, particularly foreign ones.
Slavansky Ship Repair Yard is among the oldest ship repair yards in the Far East of Russia. The company has facilities and equipment needed for construction and repair of warships and civil ships. Apart from ship repair, the company has been building small-size vessels with shipbuilding accounting for up to 40% of the company’s output.
