All Stolt - Stolt-Nielsen Limited Reports Unaudited Results For the First Quarter of 2025
油轮业绩受市场不确定性影响，非油轮业务组合持续表现良好。
伦敦，2025年4月3日 —— Stolt-Nielsen（奥斯陆证券交易所股票代码：SNI）今日发布截至2025年2月28日的第一季度未经审计的业绩报告。公司报告第一季度净利润为1.514亿美元，收入为6.756亿美元，而2024年第一季度的净利润为1.04亿美元，收入为7. 073亿美元。若不计因在Avenir LNG Limited（Avenir）和Hassel Shipping 4（HS4）的股权投资价值提升而产生的7520万美元一次性收益，第一季度净利润为7620万美元。
2025年第一季度与2024年第一季度相比的亮点如下：
• Stolt-Nielsen Limited（SNL）合并息税折旧摊销前利润（EBITDA）为1.92亿美元，低于2.103亿美元。
• 每股收益（EPS）为2.83美元，高于1. 94美元。若不计一次性收益，每股收益为1.42美元。
• Stolt Tankers报告的营业利润为6660万美元，而之前为9300万美元。
• STJS平均期租等效收入为每天27620美元，而之前为每天29944美元。
• Stolthaven Terminals报告的营业利润为2850万美元，与去年同期持平。
• Stolt Tank Containers报告的营业利润为1520万美元，高于1330万美元。
• Stolt Sea Farm报告的营业利润（不含生物量公允价值调整）为740万美元，高于690万美元。
• Stolt-Nielsen Gas报告的营业亏损为350万美元，而之前为200万美元。
• 企业及其他报告的营业亏损为1050万美元，而之前为1070万美元。
Stolt-Nielsen首席执行官Udo Lange表示：
在日益不确定的环境中，公司取得了良好的业绩，EBITDA达到1.92亿美元。尽管Stolt Tankers的EBITDA下降了17%，但我们的非航运业务增长了6%，因此公司整体下降了9%，这体现了我们多元化业务组合的优势。我们业务的广泛性在其他宏观经济波动的情况下带来了一定的弹性与风险缓解。
Stolt Tankers的市场面临着重大的不确定性，这些不确定性受到地缘政治因素的驱动。贸易商品的关税以及可能的更高美国港口费用可能会显著影响贸易流动，我们正在密切关注贸易政策的发展。第一季度的平均TCE收入为每天27620美元，较前几个季度进一步下降，但仍然比历史平均水平高出39%。
储存市场更加稳定，Stolthaven Terminals的利用率持续上升。尽管受到货币贬值的负面影响，收入和营业利润与去年持平，仍处于创纪录水平。
Stolt Tank Containers持续的利润率提升支持了第一季度的强劲年度业绩。尽管运输量下降影响了收入，但营业利润有所增加，因为现货合同的费率上升，且持续关注成本控制仍在取得成效。
强劲的圣诞销售和利润率表现使Stolt Sea Farm在年初第一季度处于良好位置。由于库存水平保持紧张，销售价格处于创纪录高位，这积极影响了营业利润。
在本季度，我们继续投资我们的业务。我们完成了对HS4合资企业剩余50%的收购以及对Avenir额外48.8%的收购。这些交易的综合结果预计每年将为EBITDA额外贡献约5000万美元，这取决于市场条件。
Tanker performance impacted by market uncertainty, non-tanker portfolio continues to perform well.
LONDON, April 3, 2025 – Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today reported unaudited results for the first quarter ending February 28, 2025. The Company reported a first-quarter net profit of $151.4 million with revenue of $675.6 million, compared with a net profit of $104.0 million with revenue of $707.3 million in the first quarter of 2024. Excluding $75.2 million in one-off gains, due to the step-up of equity investments in Avenir LNG Limited (Avenir) and Hassel Shipping 4 (HS4), first-quarter net profit was $76.2 million.
Highlights for the first quarter of 2025, compared with the first quarter of 2024, were:
• Stolt-Nielsen Limited (SNL) consolidated EBITDA of $192.0 million, down from $210.3 million.
• Earnings per share (EPS) was $2.83, up from $1.94. Excluding the one-off gains, EPS was $1.42 per share.
• Stolt Tankers reported operating profit of $66.6 million, compared to $93.0 million.
• The STJS average time-charter equivalent (TCE) revenue was $27,620 per operating day, compared to $29,944.
• Stolthaven Terminals reported operating profit of $28.5 million, level with the same quarter last year.
• Stolt Tank Containers reported operating profit of $15.2 million, up from $13.3 million.
• Stolt Sea Farm reported an operating profit before fair value adjustment of biomass of $7.4 million, up from $6.9 million.
• Stolt-Nielsen Gas reported an operating loss of $3.5 million, compared to a loss of $2.0 million.
• Corporate and Other reported an operating loss of $10.5 million compared to a loss of $10.7 million.
Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, commented:
“In an increasingly uncertain environment, the Company produced solid results with EBITDA of $192 million. While Stolt Tankers’ EBITDA fell 17%, our non-shipping business was up 6%, so overall the Company was down 9%, demonstrating the benefit of our diversified portfolio. The breadth of our business brings some resilience and risk mitigation in an otherwise volatile macroeconomic situation.
“Stolt Tankers faces significant uncertainties in its markets, driven by geopolitics. Tariffs on traded goods and potential higher US port fees could significantly impact trade flows, and we are closely monitoring the development of trade policies. Average TCE revenue for the first quarter was $27,620 per day, a further decline from previous quarters, but still 39% above the historical average.
“Storage markets have been more stable, and at Stolthaven Terminals utilisation continues to trend upwards. Revenue and operating profit were flat year-over-year at record levels, despite a negative currency impact.
“Ongoing margin improvement at Stolt Tank Containers has supported a strong year-on-year performance in the first quarter. A decline in volumes impacted revenue, however operating profit increased, as spot rates booked were up, and the ongoing focus on cost control continues to pay off.
“Strong Christmas sales and margin performance positioned Stolt Sea Farm well for the first quarter of the year. With inventory levels remaining tight, sales prices were at record-high levels, which has positively impacted operating profit.
“During the quarter, we continued to invest in our business. We completed the acquisitions of the remaining 50% of the HS4 joint venture and an additional 48.8% in Avenir. The combined outcome of these transactions should generate an annualised additional contribution to EBITDA of around $50 million, subject to market conditions.”