SOURCE: Stolt-Nielsen S.A.

October 04, 2007 07:22 ET

Stolt-Nielsen S.A. Reports Strong Results for the Third Quarter and Nine Months of 2007

LONDON--(Marketwire - October 4, 2007) -



London, England - October 4, 2007 - Stolt-Nielsen S.A. ("SNSA") (Oslo Børs: SNI) today reported unaudited results for the third quarter ended August 31, 2007.

Highlights for the quarter included:

*          Operating revenue of $453.2 million ($437.6 million in
  second quarter of 2007 and $398.0 million in third quarter of 2006)
*          Net income of $39.8 million (versus $34.8 million in
  second quarter of 2007 and $36.8 million in third quarter of 2006)
*          Good underlying operating performance in all businesses
  partly offset by continued substantial costs related to ongoing
  legal proceedings
*          Stolt Tankers Joint Service Sailed-in Time-Charter Index:
  1.46 up 6.6% from 1.37 in preceding quarter and up 14.1% from 1.28
  in third quarter of 2006
*          Stolt Sea Farm saw continuing high prices and strong
  demand for turbot
*          No significant changes to $1.9 billion capital expenditure
  program since last quarter; strategic investments made in 2 new
  areas - bitumen tankers and liquefied petroleum gas transportation

Commenting, Mr. Niels G. Stolt-Nielsen, CEO of SNSA, said:

"All our operations reported satisfactory results for the third quarter of 2007, with particularly good performances from tankers and tank containers. However, during the quarter we saw a continuing weakening in the parcel tanker spot market. At this stage it is not clear whether this weakness is the normal seasonal downturn or an early indicator of economic slowdown with further softness to come.

The Group's ongoing capital expenditure program is designed to ensure that we will be equipped to meet the growth that we foresee in all divisions. In addition, we are exploring two new areas with potential - bitumen tankers and liquefied petroleum gas transportation - which we believe could prove complementary to our existing logistic service strategy."


For the full press release see attachment.

http://hugin.info/154/R/1157977/223856.pdf



Copyright © Hugin ASA 2007. All rights reserved.

Contact Information

  • Contacts:
    Nicola Savage
    Hudson Sandler
    U.K.
    +44 (0) 20 7796 4133
    Email Contact

    Jan Chr. Engelhardtsen
    U.K.
    +44 (0) 20 7611 8972
    Email Contact