Brief: Stolt-Nielsen Q3 EBITDA At USD 143.5 Mln

Stolt-Nielsen

08/10/2020 09:03

Oct 8 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * STOLT-NIELSEN LIMITED REPORTS UNAUDITED RESULTS FOR THE
THIRD
QUARTER AND FIRST NINE MONTHS OF 2020
    * COMPANY REPORTED A THIRD-QUARTER NET PROFIT ATTRIBUTABLE
TO
SHAREHOLDERS OF $29.2 MILLION, WITH REVENUE OF $474.0 MILLION
    * NET PROFIT FROM CONTINUING OPERATIONS WAS $30.5 MILLION IN
Q3
WITH AN EBITDA OF $143.5 MILLION
    * WE ARE CAUTIOUSLY OPTIMISTIC ABOUT Q4 AND BEYOND, BASED ON
CONTRACT PORTFOLIO WE HAVE SECURED ACROSS OUR THREE LOGISTICS
BUSINESSES
    * MAINLY DRIVEN BY HEALTHY VOLUMES, LOWER FUEL PRICES IN
STOLT
TANKERS AND STOLT TANK CONTAINERS AND OVERALL LOWER
ADMINISTRATIVE AND GENERAL EXPENSES
    * DURING Q3 ALL OF OUR DIVISIONS GENERATED IMPROVED RESULTS
IN
FACE OF CONTINUED CHALLENGES BROUGHT ON BY COVID PANDEMIC
    * WE ARE CAUTIOUSLY OPTIMISTIC THAT MOMENTUM OF A
STRENGTHENING
CHEMICAL TANKER MARKET WILL CONTINUE
    * LONGER TERM, FAVOURABLE SUPPLY/DEMAND OUTLOOK SHOULD
PROVIDE A
GOOD FOUNDATION FOR CONTINUED IMPROVED RESULTS AT STOLT TANKERS
    * AT STOLTHAVEN, WE EXPECT TO SEE HEALTHY DEMAND IN MOST
REGIONS
    * FOLLOWING SEASONALLY SLOW Q3 AT STOLT TANK CONTAINERS, WE
ARE
SEEING SIGNS OF IMPROVEMENT, PARTICULARLY IN ASIA

Source text for Eikon:  ID:nGNE8pQw12 
Further company coverage:  SNI.OL 

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