Resilient performance in an uncertain geopolitical environment

LONDON, July 3, 2025 – Stolt-Nielsen Limited (Oslo Børs ticker: SNI) today reported unaudited results for the second quarter ending May 31, 2025. The Company reported a second-quarter net profit of $75.2 million with revenue of $712.9 million, compared with a net profit of $100.2 million with revenue of $741.1 million in the second quarter of 2024. The net profit for the first half of 2025 was $226.6 million with revenue of $1,388.5 million, including $75.2 million in one-off gains due to the step-up of equity investments in Avenir LNG Limited (Avenir) and Hassel Shipping 4 (HS4), compared with a net profit of $204.1 million with revenue of $1,448.5 million, in the first half of 2024.

Highlights for the second quarter of 2025, compared with the second quarter of 2024, were:

• Stolt-Nielsen Limited (SNL) consolidated EBITDA¹ of $210.1 million, up from $207.9 million.
• Earnings per share (EPS) was $1.41, down from $1.87.
• Stolt Tankers reported operating profit of $70.5 million, down from $106.5 million.
• The average time-charter equivalent (TCE) revenue² was $26,220 per operating day, compared to $32,862.
• Stolthaven Terminals reported record operating profit of $28.9 million, up from $28.2 million.
• Stolt Tank Containers reported operating profit of $12.2 million, down from $12.5 million.
• Stolt Sea Farm reported an operating profit before fair value adjustment of biomass of $6.6 million, down from $8.2 million.
• Stolt-Nielsen Gas reported an operating profit of $0.3 million, compared to a loss of $5.2 million.
• Corporate and Other reported an operating loss of $4.7 million, compared to a loss of $14.5 million³.
  
  

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

“In a challenging environment, the Company has delivered a strong performance. This is a testament to our people, a global team who prioritise safety and the delivery of our value proposition to customers every day. Our purpose is to move today’s products for tomorrow’s possibilities and so we are laser-focused on quality, reliability and flexibility, which are critical to support our customers navigating supply chain complexities.

“Despite significant market volatility, driven by shifting macro-economic factors, the Company has achieved a strong quarterly performance, with EBITDA of $210 million, $2 million higher than the same period last year. This result demonstrates the resilience inherent in our diversified business model. Our portfolio encompasses our Liquid Logistics solutions across tankers, terminals and tank containers; land-based aquaculture; and other investments.”

¹ Before fair value of biological assets, gain (loss) on sales of assets and other one-time, non-cash items
² TCE revenue per operating day refers to deep-sea sailed-in revenue per day, which is calculated as voyage revenue less voyage related expenses and trading overhead expense, divided by total operating days during the period
³ Variance driven predominantly by lower accruals

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