Another strong year as positive momentum continues
Highlights for the fourth quarter of 2023, compared with the fourth quarter of 2022, were:
Stolt-Nielsen Limited (SNL) consolidated EBITDA1 of$208.4 million , up from$197.8 million .- Earnings per share in the fourth quarter was
$1.84 , up from$1.78 , with the full-year number at$5.54 , up from$5.25 in 2022. - Stolt Tankers reported operating profit of
$99.8 million , up from$78.2 million . - The STJS average sailed-in revenue for the quarter was
$30,144 per operating day, up 11.0% from$27,162 . - Stolthaven Terminals reported operating profit of
$26.0 million , up from$20.8 million . - Stolt Tank Containers reported operating profit of
$14.2 million , down from$44.9 million . Stolt Sea Farm reported an operating profit before fair value adjustment of biomass of$4.2 million , up from$3.2 million .Stolt-Nielsen Gas reported an operating loss of$0.9 million , compared to a loss of$2.9 million .- Corporate and Other reported an operating loss of
$11.6 million compared to a loss of$10.4 million .
“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
1 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
Attachments
- Interim Accounts 4th Qtr 2023 Final
SNL - 4Q23 Earnings Release Final
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