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Stolt-Nielsen Limited's (SOIEF) CEO Niels Stolt-Nielsen on Q1 2021 Results - Earnings Call Transcript

Apr. 08, 2021 3:12 PM ETStolt-Nielsen Limited (SOIEF)
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Stolt-Nielsen Limited (OTCPK:SOIEF) Q1 2021 Earnings Conference Call April 8, 2021 9:00 AM ET

Company Participants

Niels Stolt-Nielsen - Chief Executive Officer

Jens Grüner-Hegge - Chief Financial Officer

Niels Stolt-Nielsen

[Abrupt Start] 2021, we are streaming live from various lockdown locations. My name is Niels. Good afternoon. Good morning. Thank you for joining us for our Stolt-Nielsen’s First Quarter 2021 Earnings Release. My name is Niels Stolt-Nielsen. I am the CEO of Stolt-Nielsen Limited. And together with me as always is Jens Grüner-Hegge, our CFO.

I would like to remind you that you can post questions at anytime during the presentation and you will find the question, I think up in the right-hand side of the screen and we will answer those questions at the end of the presentation. This presentation will also be recorded.

So, if we then can move to next slide and the next one. So the agenda, I will take you through the highlights of Stolt-Nielsen. I will take you through our ESG reporting. I will take you through each of the businesses. Jens will take you through the financials. And then we will open up for questions.

Can you then go to the next slide please? So, the first quarter, the seasonal weakness, but our EBITDA actually was up $20 million from the same quarter last year. We came in at a net profit of $2.5 million. The decrease of the EBITDA was mainly driven – compared to the fourth quarter was mainly driven by lower volumes in Stolt Tankers, slightly lower volume or utilization at our Terminal division, high activities in Stolt Tank containers, but the margins was impacted by the higher move-related expenses.

Stolt Sea Farm results continues to improve. The first quarter includes December, which is the Christmas sales and we also see that

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