STOLT SEA FARM FINANCIAL RESULTS AFFECTED BY PANDEMIC
Stolt Sea Farm financial results affected by pandemic. Stolt-Nielsen Limited, which includes Stolt Sea Farm in its portfolio, has reported unaudited results for the fourth quarter ended November 30, 2020. The Company reported a fourth-quarter net profit attributable to shareholders of $13.4 million, with revenue of $480.6 million, compared with a net profit attributable to shareholders of $29.2 million, with revenue of $474.0 million, in the third quarter of 2020.
The net profit attributable to shareholders for the full year was $26.3 million, with revenue of $1,955.1 million, compared with a net profit attributable to shareholders of $21.0 million, with revenue of $2,032.1 million, in 2019.
The Stolt Sea Farm division reported an operating loss before fair value adjustment of biomass of
$0.3 million compared with an operating loss of $0.6 million. During the quarter Stolt Sea Farm concluded the sale of its caviar business, which has been reported as a discontinued operation.
Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, commented:
“At Stolt Sea Farm, we have seen volume and prices return towards pre-Covid levels. However the second wave and lockdown is again negatively impacting the hospitality industry, particularly in southern Europe.”
About Stolt-Nielsen Limited
Stolt-Nielsen is a long-term investor and manager of businesses focused on opportunities in logistics, distribution and aquaculture. The Stolt-Nielsen portfolio consists of its three bulk-liquid and chemicals logistics businesses – Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers – Stolt Sea Farm and investments in LNG.
Founded in 1959, Stolt-Nielsen is recognised for its sustained focus on safety, quality, reliability and flexibility.
The Company employs more than 6,000 people across 30 countries and is listed on the Oslo Stock Exchange (Oslo Børs: SNI).
The main subsidiaries of the Company are:
Stolt Tankers operates the world’s largest and most sophisticated global fleet of deep-sea, regional, coastal and inland parcel tankers, providing safe, reliable, high quality transportation services to the world’s leading manufacturers of chemicals and other bulk liquids.
Stolthaven Terminals’ global network of state-of-the-art terminals provides high quality storage and distribution services for chemicals, clean petroleum products, gas vegetable oils, biofuels and oleochemicals in key markets and hubs worldwide.
Stolt Tank Containers is a leading global provider of logistics and transportation services for door-to-door shipments of bulk-liquid chemicals and food-grade products.
Stolt Sea Farm is the world’s most advanced high-tech aquaculture company, and the premier provider of high quality turbot, sole, sturgeon and caviar in an environmentally sound manner.