Stolt-nielsen

Earnings Release • Oct 2, 2025

Stolt-Nielsen Limited Reports Unaudited Results For the Third Quarter and Nine Months of 2025

Stolt-Nielsen Limited Reports Unaudited Results For the Third Quarter and Nine Months of 2025

Continued resilient performance in an uncertain environment

LONDON, October 02, 2025 - Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today

reported unaudited results for the third quarter and the nine months ending

August 31, 2025. The Company reported a third-quarter net profit of $64.0

million with revenue of $699.9 million, compared with a net profit of $99.2

million with revenue of $732.8 million in the third quarter of 2024. The net

profit for the first nine months of 2025 was $290.6 million with revenue of

$2,088.4 million, compared with a net profit of $303.3 million, with revenue of

$2,181.3 million in the first nine months of 2024.

Highlights for the third quarter of 2025, compared with the third quarter of

2024, were:

* Stolt-Nielsen Limited (SNL) consolidated EBITDA(1) of $191.7 million, down

from $215.2 million.

* Earnings per share in the third quarter was $1.20, down from $1.85.

* Stolt Tankers reported operating profit of $57.2 million, down from $107.1

million.

* The STJS average time-charter equivalent (TCE) revenue for the quarter was

$24,838 per operating day, down from $33,355.

* Stolthaven Terminals reported operating profit of $26.3 million, down from

$27.4 million.

* Stolt Tank Containers reported operating profit of $11.7 million, down from

$16.6 million.

* Stolt Sea Farm (SSF), Stolt-Nielsen Gas (SNG), Corporate & Other reported a

combined operating profit of $14.2 million ($7.5 million before the fair

value adjustment of biomass).

Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, commented:

"Our businesses enjoy a strong position in each of their respective market

segments and have delivered a solid performance again this quarter.

"Our diversified portfolio has shown resilience to market fluctuations such

that, despite a sustained challenging environment, the Company has delivered a

quarterly EBITDA of just over $190 million. Stolt Tankers' EBITDA fell 27% from

the same quarter last year, while in aggregate the other areas of our operations

delivered an increase in EBITDA of 13%, diluting the impact of softer shipping

markets.

"Stolt Tankers saw further weakening in earnings due to the continued

geopolitical volatility. Time-charter equivalent (TCE) earnings dropped by 26%

to $24,838 per day, versus record levels in the same quarter last year. Events

in the Red Sea continue to impact the shipping markets, amplified by general

uncertainty brought on by geopolitical instability and ongoing trade wars and

tariffs. In the ongoing volatile environment, we saw improved utilisation at

Stolthaven Terminals, but this was offset by lower throughput volume and

revenue, resulting in a small decline in profit. At Stolt Tank Containers,

operating profit was down year-over-year following weaker demand caused by

uncertainty around tariffs."

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(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