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Stolt-Nielsen
Stolt-Nielsen (SNI) investor relations material
Stolt-Nielsen Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary28 Jan, 2026
Executive summary
Q4 2025 EBITDA was $186 million, with FY25 EBITDA at $776 million, down 8% year-over-year but at the upper end of guidance.
Demonstrated resilience through disciplined capital allocation, strategic investments, and major acquisitions including Suttons International and the remaining shares of Avenir LNG.
Paid an interim dividend of $1 per share in December 2025, with total shareholder distributions since 2005 exceeding $1.4 billion.
Maintained robust liquidity of $477 million and net debt/EBITDA at 3.12x.
Announced plans to partially sell down Avenir equity to maintain balance sheet flexibility.
Financial highlights
FY25 operating revenue was $2,769.0 million, down 4.2% year-over-year; Q4 revenue was $680.6 million, down 4.1% year-over-year.
FY25 net profit was $350.2 million, down 11.3% year-over-year; Q4 net profit was $59.6 million, down 34.9%.
Operating profit for 2025 was $426.5 million, down from $538.5 million in 2024.
Free cash flow in Q4 2025 was $60.4 million, down 38.7% year-over-year; adjusted FY25 free cash flow was $231.7 million, down 54.8%.
Net debt to EBITDA increased to 3.12x from 2.20x a year ago.
Outlook and guidance
FY26 EBITDA guidance is $600–$750 million, excluding Avenir's contribution and including Suttons integration costs.
CapEx for 2026 projected at $383 million, down from $511 million in 2025.
Non-tanker EBITDA share expected to grow in the second half of 2026, with tanker segment facing more risk.
Assumes global GDP growth of 3.1%, average interest rates of 5.5%, and no major geopolitical changes.
Management expects robust cash flows and compliance with all debt covenants through 2027, supported by undrawn credit facilities and planned refinancing.
Explain the Avenir LNG strategic shift
Newbuild facility delay: liquidity shortfall timing?
How are large newbuilding commitments funded?
Impact of Avenir deconsolidation on 2026 EBITDA?
When will Stolt-Nielsen resume Red Sea transits?
How will new-builds and aging fleet impact tankers?
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Next Stolt-Nielsen earnings date
Q1 20269 Apr, 2026
Stolt-Nielsen
Next Stolt-Nielsen earnings date
Q1 20269 Apr, 2026
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Frequently asked questions
Stolt-Nielsen Limited is a global provider of integrated transportation, storage, and distribution services for liquids. The company operates in key areas such as the shipping of bulk liquids, including chemicals, edible oils, and other specialty liquids, through its fleet of chemical tankers. Additionally, Stolt-Nielsen offers bulk-liquid storage and distribution solutions via its network of terminals. The company also has a presence in the tank container business, providing flexible and scalable logistics for transporting chemicals and other bulk liquids. Stolt-Nielsen serves a wide range of industries, including chemical, food, and industrial sectors. The company is headquartered in London, UK, and its shares are listed on the Oslo Stock Exchange.
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