SOURCE: Stolt-Nielsen S.A.

February 28, 2008 06:16 ET

Stolt-Nielsen S.A. Reports Fourth-Quarter and Full-Year 2007 Results

LONDON--(Marketwire - February 28, 2008) - Stolt-Nielsen S.A. (SNSA) (Oslo Børs: SNI) today reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited.

Highlights for the fourth quarter and full year ended November 30, 2007, compared with the fourth quarter and full year ended November 30, 2006, included:

* Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year. Operating revenue for the full year of $1,759.4 million, up 12% compared with the previous year.

* Operating income for the fourth quarter of $47.0 million, up 7% compared with fourth quarter of last year. Operating income for the full year of $193.0 million, up 16% compared with the previous year.

* Net income for the fourth quarter of $36.3 million, compared with net income of $57.8 million in the same quarter last year (fourth-quarter 2006 results included a contribution to net income of $19.4 million from Stolt Sea Farm's 25% share of Marine Harvest, which was sold in the first quarter of 2007). Net income for the full year of $216.4 million, up 8% from $199.9 million in the prior year.

* The Stolt Tankers Joint Service Sailed-in Time-Charter Index was 1.25, down 7% from 1.34 in the fourth quarter of 2006.

* At Stolt Parcel Tankers, growth in operating income was impacted by higher operating costs.

* Stolthaven Terminals reported record results for the full year, with overall high utilization.

* Stolt Tank Containers reported record results for the full year, despite cost increases in the fourth quarter.

* Stolt Sea Farm reported record results for the full year, with continued strong demand for turbot and caviar.

Commenting on the Company's results, Mr. Niels G. Stolt-Nielsen, CEO of SNSA, said:

"2007 was a good year for SNSA, with growth in revenue and operating income driven by strong markets in each of our businesses. However, during the second half of the year we experienced significant operating-cost increases in our tanker business, as well as a slowdown in certain markets. Despite growing global economic uncertainty, we have seen no significant impact on rates and volumes in our parcel tanker business so far. It is still too early to determine the effect on the parcel tanker industry of the large new building orderbook, which stands at 28.5% of the current fleet, net of estimated recycling of ships.

"Having won our legal battle with the Department of Justice in the US, we saw significantly lower legal costs in connection with governmental antitrust investigations in the fourth quarter of 2007, and can now fully focus our attention on developing and expanding our businesses."

For the full press release see attachment.

SNSA4Q07: http://hugin.info/154/R/1196257/243025.pdf

Contacts:
Nicola Savage / Fran Read
Hudson Sandler
U.K. +44 (0) 20 7796 4133
Stolt-Nielsen@hspr.com
Jan Chr. Engelhardtsen
U.K. +44 (0) 20 7611 8972
j.engelhardtsen@stolt.com


Copyright © Hugin AS 2008. All rights reserved.

Contact Information