Stolt-Nielsen Limited Reports Unaudited Results For the Fourth Quarter and Full Year 2023

Another strong year as positive momentum continuesLONDON, February 1, 2024 –Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today reported unaudited results for the fourth quarter and full year ending November 30, 2023. The Company reported a fourth-quarter net profit of $98.4 million with revenue of $695.2 million, compared with a net profit of $95.3 million, with revenue of $732.5 million, in the fourth quarter of 2022. The net profit for the full year 2023 was $296.7 million, with...

London, 01/02/2024 (informazione.it - comunicati stampa - trasporti)

Another strong year as positive momentum continues

LONDON, February 1, 2024 – Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today reported unaudited results for the fourth quarter and full year ending November 30, 2023. The Company reported a fourth-quarter net profit of $98.4 million with revenue of $695.2 million, compared with a net profit of $95.3 million, with revenue of $732.5 million, in the fourth quarter of 2022. The net profit for the full year 2023 was $296.7 million, with revenue of $2,820.2 million, compared with a net profit of $280.9 million, with revenue of $2,771.8 million, in 2022.

Highlights for the fourth quarter of 2023, compared with the fourth quarter of 2022 , were:

Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, commented:
“In a very challenging year, our team has performed exceptionally to deliver great value for our customers and shareholders. The fourth quarter produced another strong set of results, culminating in another strong year for our company. During the year Stolt Tankers experienced particularly robust market conditions. Following a fall in spot rates during the third quarter, the firming trend resumed as we headed into the contract renewal season. At Stolthaven Terminals continued high utilisation supported an increase in storage and throughput rates and ancillary charges, resulting in Stolthaven's best year to date. At Stolt Tank Containers volumes continued to increase, however, during the fourth quarter the predicted reduction in margins and demurrage revenue impacted results. Stolt Sea Farm's strong operating performance for the full year concluded with another excellent quarter, which saw rising sales volume and firm prices for both turbot and sole.

“During the quarter Stolt Tankers announced a newbuilding order for six stainless-steel fuel-efficient ships from Wuhu Shipyard in China, with estimated delivery from 2026 onwards. This is our first newbuilding order since taking delivery of five ships in 2018 as we have been purchasing secondhand ships in the market. Yard capacity remains very tight, and we are pleased that we secured these newbuildings with a favourable delivery window that means they will be delivered in time for the retirement of older tonnage.”

Before fair value of biological assets, gain (loss) on sales of assets and other one-time, non-cash items.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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