Brief: Stolt-Nielsen Q2 Operating Profit Up At USD 49.4 Mln

Stolt-Nielsen

02/07/2020 07:39

July 2 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * REG-STOLT-NIELSEN LIMITED REPORTS UNAUDITED RESULTS FOR
THE
SECOND QUARTER AND FIRST HALF OF 2020
    * Q2 NET PROFIT USD 3.0 MILLION VERSUS USD 3.6 MILLION YEAR
AGO
    * Q2 OPERATING PROFIT USD 49.4 MILLION VERSUS USD 43.3
MILLION
YEAR AGO
    * NET FINANCIAL IMPACT OF COVID-19 PANDEMIC ON OUR
BUSINESSES,
EXCLUDING STOLT SEA FARM, HAS SO FAR BEEN RELATIVELY MODEST
    * WE ARE SEEING INDICATIONS THAT Q3 WILL BE MORE CHALLENGING
    * OUTLOOK IS DIFFICULT TO PREDICT AND HIGHLY UNCERTAIN
    * AT STOLT TANKERS, OVERALL VOLUME IMPROVED IN Q2, DRIVEN
MAINLY
BY STRENGTH IN DEEP-SEA SHIPMENTS, REFLECTING LESS MR TONNAGE
OPERATING IN CHEMICAL TRADE
    * RESULTS WERE ALSO POSITIVELY IMPACTED BY LOWER FUEL COSTS
AND
MORE OPERATING DAYS
    * STOLT SEA FARM HAD ANOTHER VERY DIFFICULT QUARTER, DUE TO
IMPACT
OF PANDEMIC ON RESTAURANTS AND HOTELS, ESPECIALLY IN SSF'S KEY
EUROPEAN MARKETS
    * WE ARE SEEING SIGNS OF A SLOWDOWN IN CERTAIN REGIONS AT
STOLT
TANK CONTAINERS, WHICH WE SUSPECT MAY BE A RESULT OF CONSUMPTION
DECLINING, BUT ALSO BEGINNING OF A SEASONAL SUMMER SLOWDOWN
TYPICALLY OBSERVED AT STC
    * AT STOLTHAVEN, WE CONTINUE TO SEE HEALTHY DEMAND IN MOST
REGIONS
AND EXPECT CONTINUED IMPROVED PERFORMANCE FROM OUR TERMINALS
    * CURRENTLY HAS JUST UNDER HALF A BILLION DOLLARS IN
AVAILABLE
LIQUIDITY

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE3nD6kt
Further company coverage:  SNI.OL 

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