Welcome!

News Feed Item

Stolt-Nielsen Limited Reports Unaudited Results For the Fourth Quarter and Full Year of 2012

LONDON -- (Marketwire) -- 01/31/13 -- Stolt-Nielsen Limited (Oslo Børs: SNI) today 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:


* Stolt Tankers reported an operating profit of $2.6 million, compared with
an operating loss of $0.8 million, reflecting a modest improvement in
operating results.
* The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1] rose to
1.14 from 1.12.
* Stolthaven Terminals reported an operating profit of $22.9 million, up
from $12.2 million.  Excluding one-time gains and charges and the impact of
damage to the New Orleans terminal caused by Hurricane Isaac, Stolthaven's
operating results improved by approximately 7% in the fourth quarter driven
by increased capacity and throughputs.
* Stolt Tank Containers reported an operating profit of $17.5 million, down
from $20.1 million.  Excluding a $3.0 million reduction in depreciation in
the prior period, operating profit at STC was essentially unchanged for the
quarter.
* Stolt Sea Farm reported an operating loss of $2.0 million, before
reflecting a $6.5 million gain in connection with a recent acquisition,
compared with a loss of $1.4 million.
* Stolt-Nielsen Gas reported equity income of $0.1 million from its
investment in Avance Gas Holding Ltd., compared with equity income of $1.1
million in the third quarter, as conditions softened in the LPG
transportation market and routine drydockings were accelerated in the weak
market.

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."

[1] The Stolt Tankers Joint Service Sailed-in Time-Charter Index is an indexed measurement of the sailed-in rate for the Joint Service and was set at 1.00 in the first quarter of 1990 based on the average sailed-in time-charter result for the fleet at the time. The sailed-in rate is a measure frequently used by shipping companies, which subtracts from the ships' operating revenue the variable costs associated with a voyage, primarily commissions, sublets, external time charter expenses, transshipments, port costs, and bunker fuel.

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

SNL 4Q12 Earnings Press Release:

http://hugin.info/154/R/1674367/545179.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Stolt-Nielsen Limited via Thomson Reuters ONE

[HUG#1674367]

Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Email Contact

Jens F. Gruner-Hegge
V.P. Corporate Finance
UK +44 (0) 20 7611 8985
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...