Stolt-Nielsen reported unaudited results for the fourth quarter ended November 30, 2012. Net profit attributable to SNL shareholders in the fourth quarter was $18.2 million, with revenue of $510.9 million, compared with $7.1 million and $516.4 million, respectively, in the third quarter of 2012.
Net profit attributable to SNL shareholders for the full year was $70.2 million, with revenue of $2,071.7 million, compared with $108.2 million and $2,029.4 million, respectively, in 2011.
Highlights for the fourth quarter of 2012, compared with the third quarter of 2012, were:
Commenting on the Company’s results, Mr. Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited , said:
“ Excluding one-time gains and charges, SNL’s fourth-quarter results were up slightly, compared with the third quarter. Stolt Tankers reported a modest operating profit for the quarter, due to a combination of improved trading performance and lower operating costs. While an improvement from the previous quarter, it caps off a rather disappointing year for our tanker business and I do not believe in any significant recovery in 2013. Results at Stolthaven Terminals, excluding one-time factors in the third and fourth quarters, were up due to increases in both capacity and throughput. Stolt Tank Containers’ fourth-quarter results were flat, excluding the $3.0 million reduction in depreciation in the third-quarter. Stolt Sea Farm would have reported a loss for the quarter, excluding the $6.5 million one-time gain in connection with its Acuidoro acquisition. ”
“ Over the last four years we have aggressively expanded both our terminal and tank containers businesses, while maintaining our leading position in the chemical tanker market. With the significant capital investments and commitments we have made in our businesses during these challenging years, we will be in a strong position to benefit from improved market conditions once the global economy eventually improves .”
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LNG World News Staff, January 31, 2013; Image: Stolt-Nielsen