Russian shipbuilder Severnaya Verf has posted a loss for 2016 as revenue fell.
The company said the net deficit was RUB 1.83bn ($32.1m) against a profit of RUB 117.07m the year before.
Revenue decreased by 25.54% to RUB 13.6bn.
The yard is plotting an expansion that could see it diversify into gas carriers and tankers.
A new plant is planned for the St Petersburg site by the end of 2019.
