SCF Group Q2 2026: Revenue Jumps 58% YoY, Swings to Profit as EBITDA Turns Positive

SCF Group reported Q2 2026 revenue of RUB 43,327.23 mn, up 58.0% y/y, with net profit of RUB 14,173.77 mn and EBITDA of RUB 22,893.74 mn, a sharp reversal from the prior-year quarter's net loss of RUB 3,397.81 mn and negative EBITDA of RUB 17,554.04 mn. Revenue growth accelerated from 53.2% in H1 2026 to 58.0% in Q2 2026, while EBITDA and net profit also turned positive after deep losses in Q4 2025 and H2 2025.

Q2 2026 vs Q2 2025: YoY growth

What drove the result

The swing to profitability was driven by a combination of strong revenue growth and a significant improvement in EBITDA, which turned from negative RUB 17,554.04 mn in Q2 2025 to positive RUB 22,893.74 mn in Q2 2026. This suggests a sharp recovery in operating performance, likely supported by higher freight rates or increased volumes, though the exact drivers are not detailed in the provided data. Net profit also benefited from the EBITDA turnaround, despite a rise in net debt.

Key figures

Outlook

The sharp revenue acceleration and return to profitability mark a strong turnaround, but the sustainability of this momentum depends on continued favourable market conditions. Investors will watch whether the positive EBITDA trend persists in coming quarters and how the company manages its rising net debt, which increased significantly over the past year.