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2016-01-28

Stolt-Nielsen Limited: Stolt-Nielsen Limited Reports Unaudited Results For the Fourth Quarter and Full Year of 2015

LONDON, January 28, 2016 -
Stolt-Nielsen Limited (Oslo Børs: SNI) today reported unaudited results for
the fourth quarter ended November 30, 2015. Net profit attributable to
shareholders in the fourth quarter was $21.4 million, with revenue of $494.6
million, compared with a net profit of $30.1 million, with revenue of $500.7
million, in the third quarter of 2015. Net profit attributable to
shareholders for 2015 was $132.7 million, with revenue of $1,983.7 million,
compared with $77.1 million and revenue of $2,137.9 million in 2014.

Highlights for the fourth quarter of 2015, compared with the third quarter of
2015, were:

* Stolt Tankers reported an operating profit of $35.4 million, compared with
$37.5 million, mainly reflecting accelerated depreciation on ships
scheduled for recycling and the continuing positive impact of lower bunker
costs.
* The Stolt Tankers Joint Service Sailed-in Time-Charter Index was 0.77,
compared with 0.75 in the third quarter.
* Stolthaven Terminals reported an operating profit of $2.6 million, down
from $6.4 million, mainly due to write-offs of certain assets, accelerated
depreciation and settlements of customer claims.
* Stolt Tank Containers reported an operating profit of $13.1 million, down
from $15.6 million, mainly reflecting lower utilisation from a reduction in
shipments and costs related to the early recycling of a certain series of
tank containers.
* Stolt Sea Farm reported an operating loss of $2.5 million including fair
value adjustments, compared with an operating loss of $2.1 million. T he
accounting for inventories at fair value had a negative impact of $2.7
million, compared with a negative impact of $2.1 million in the third
quarter.
* Corporate and Other reported an operating loss of $5.0 million, compared
with operating income of $2.4 million, reflecting increased employee
profit-sharing allocations and higher equity loss on its investment in
Stolt LNGaz Ltd.

Commenting on the Company's results, Mr. Niels G. Stolt-Nielsen, Chief
Executive Officer of Stolt-Nielsen Limited, said: "Stolt Tankers' improved
performance continued in the fourth quarter, driven mainly by lower bunker
costs. Results included $4.1 million of accelerated depreciation on ships
scheduled for recycling, due to falling steel prices. Poor results at
Stolthaven Terminals were attributable to accelerated depreciation of certain
assets and continued actions to enhance efficiency and improve profitability
at Stolthaven Houston, though the underlying dynamics of the storage market
remain solid. Stolt Tank Containers' performance softened in the fourth
quarter, reflecting fewer shipments and costs associated with the recycling
of a series of tank containers."

"Looking ahead in 2016, Stolt Tankers is likely to continue to perform well
near-term, but unless global trade flows pick up, the additional newbuilding
tonnage scheduled to come into the market this year and in 2017 may
negatively impact our results. The outlook for the global economy and trade
provides limited comfort. Considering the uncertain outlook we will continue
to manage our businesses conservatively in order to be well positioned to
capitalise on opportunities that may arise in a weak market."

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

SNL 4Q15 Earnings Press Release
http://hugin.info/154/R/1981763/726135.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Stolt-Nielsen Limited via Globenewswire

HUG#1981763

Författare WKR

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