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Stolt-Nielsen S.A. Reports Fourth-Quarter and Full-Year 2007 Results
London, England - February 28, 2008 - Stolt-Nielsen S.A. (SNSA) (Oslo B?rs: SNI) today reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited.
Highlights for the fourth quarter and full year ended November 30, 2007, compared with the fourth quarter and full year ended November 30, 2006, included:
Commenting on the Company's results, Mr. Niels G. Stolt-Nielsen, CEO of SNSA, said:
"2007 was a good year for SNSA, with growth in revenue and operating income driven by strong markets in each of our businesses. However, during the second half of the year we experienced significant operating-cost increases in our tanker business, as well as a slowdown in certain markets. Despite growing global economic uncertainty, we have seen no significant impact on rates and volumes in our parcel tanker business so far. It is still too early to determine the effect on the parcel tanker industry of the large new building orderbook, which stands at 28.5% of the current fleet, net of estimated recycling of ships.
"Having won our legal battle with the Department of Justice in the US, we saw significantly lower legal costs in connection with governmental antitrust investigations in the fourth quarter of 2007, and can now fully focus our attention on developing and expanding our businesses."
For the full press release see attachment.