Annual Report 2025

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We move today’s products for tomorrow’s possibilities

Stolt-Nielsen is a market leader in the transportation and storage of bulk liquids.

Powered by a diverse global team and a legacy of quality, flexibility and reliability, we transport and store products that touch millions of lives every day, from fertilisers to food-grade products and cutting-edge chemicals.

This is what moves us.

Chairman's statement

Niels G. Stolt-Nielsen
Director and Chairman of the Board

Each of our divisions is a leader in its space, with strong and well established strategies, focused on execution through operational excellence to deliver long-term value.

Chairman's statement

 

People

7,279

Key figures

Sustainability ratings

3

  Gold 

sustainability ratings from EcoVadis

 

Earnings per share

US $6.57

 

EBITDA

US $776

m

Earnings before interest, taxes, depreciation and amortisation, before fair value adjustment of biological assets and other one-time items.

Chief Executive Officer's review

Udo Lange
Chief Executive Officer

Our people, clear purpose and diverse portfolio provide the resilience and agility required to deliver long-term value for our shareholders, customers and other stakeholders.

Chief Executive's review

Financial highlights

Operating revenue

US $2,769m

Operating profit

US $427m

Total assets

US $5,775m

Operating revenue by business

Operating profit by business1

1. Excluding Corporate and Other loss of $30 million.

Total assets by business

Business reviews

Stolt Tankers

Leading operator of deep-sea and regional chemical tankers, providing safe, high-quality and flexible global transportation services for bulk liquids.

Stolt Tankers operates in a highly cyclical market and has long-standing experience in navigating the cycle with strong discipline.

167

Chemical tankers1

3.2m

Deadweight tonnes capacity1

1. Includes joint ventures and managed ships.

Stolthaven Terminals

Leading provider of storage and handling solutions for bulk liquids and liquid petroleum gases.

With a global network of strategically located and highly connected sites, Stolthaven Terminals has the scale and positioning to support our logistics customers.

5.1m

m3 storage capacity1

14

Terminals1

1. Includes joint ventures.

Stolt Tank Containers

Leading provider of door-to-door logistics and transportation services for shipments of bulk liquids, operating the world’s largest fleet of ISO tanks.

Stolt Tank Containers has developed a global and scalable platform driven by digitisation, which can be leveraged to serve customers worldwide with safe, high-quality and sustainable logistics solutions.

65,000

Tank containers

22

Depots1

1. Includes joint ventures.

Stolt Sea Farm

One of the world’s most advanced land-based aquaculture companies, and the premier provider of high-quality turbot and sole in an environmentally sound manner

14

Land-based farms

9,000

Tonnes production capacity

Business model: Creating value through our integrated ecosystem

Long-term value creation

Corporate structure

  • Efficient use of assets and focus on cost control
  • Disciplined capital allocation and prudent risk management
  • Focus on providing consistent competitive cash returns to shareholders

Market-leading positions

  • Businesses with leading global positions and attractive demand fundamentals
  • Economies of scale drive lower costs and offer operational agility to our customers

Expert logistics industry knowledge

  • Leveraging our knowledge and relationships to anticipate customer needs, design solutions and ultimately deliver strong cash flow
  • Long-standing, strategic partnerships with key customers

Diversified liquid logistics portfolio

  • Best-in-class customer service, from simple logistics to integrated end-to-end liquid logistics supply chain solutions
  • Flexibility to navigate industry and macro cycles

Serving significant end markets

  • Global liquid logistics businesses store and transport essential feedstocks for the consumer goods, agriculture and chemical/energy industries, as well as food-grade products
  • Innovative land-based aquaculture addresses the growing demand for sustainable seafood
  

Sustainability statement

We understand that we have an important role to play in protecting our planet, and that all resources are precious.

As a global leader in the transportation and storage of products that touch every aspect of modern life, and a producer of sustainable seafood, we take our role as an essential part of the global supply chain seriously.

This year, our Annual Report includes Stolt-Nielsen Limited’s consolidated sustainability information prepared for the first time in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

Sustainability statement

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Annual Report 2025 (15.20Mb PDF)

Forward-looking statements

Included in the Annual Report 2025 are various ‘forward-looking statements’, including statements regarding the intent, opinion, belief or current expectations of the Company or its management with respect to, among other things, (i) goals and strategies, (ii) plans for new development, (iii) marketing plans and the Company’s target markets, (iv) evaluation of the Company’s markets, competition and competitive positions, and (v) trends, which may be expressed or implied by financial or other information or statements contained herein.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other facts that may cause the actual results, performance and outcomes to be materially different for any future results, performance or outcomes expressed or implied by such forward-looking statements.

These factors include in particular, but are not limited to, the matters described in the principal risks section on pages 29-31 of the Annual Report 2025.

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