Net profit of STLC in the first half of the year exceeded 1 billion rubles. after a loss a year earlier
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According to the results of the first half of 2023, the net profit of the State Transport Leasing Company (STLC) group under IFRS amounted to 1.062 billion rubles. against 26.352 billion rubles. net loss for the same period in 2022. The data are presented in the consolidated reporting STLC.
According to the company’s report, STLC’s interest income from financial leasing operations decreased by 19.5% and in January-June amounted to 13.573 billion rubles. Income from operating leases decreased by 19% to RUB 26.116 billion.
Interest expenses also decreased. According to the results of the first half of the year, they amounted to 30.238 billion rubles. (-13%). Depreciation of assets transferred to operating lease decreased 1.6 times to RUB 7.401 billion.
As of December 31, 2022, net investments in STLC leasing amounted to RUB 285.207 billion. However, by June 30, the figure rose to 309.718 billion rubles. Gross investment in leasing increased from 516.506 billion rubles. up to 558.279 billion rubles.
On August 10, the Board of Directors of STLC approved payments on Eurobonds of subsidiaries for holders, taking into account rights in Russian depositories. The initial amount was estimated at 160 billion rubles. The decision does not concern issuance of replacement bonds or missed coupon payments. Thus, STLC became the last Russian issuer, which, after a one and a half year delay, began paying out its Eurobonds.
More details – in the material “Kommersant” “GTLK is ready to pay off”.
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