2nd October 2020
Stanlow Terminals 2020 Half Year Results
We are pleased to announce our results for the six months ended 30th June 2020, having achieved a successful period of trading since hive-out from Essar Oil (UK) Limited on 1st January 2020.
Thanks to the performance of our team and the quality of our assets and infrastructure, we delivered a strong set of financial results. Our performance is reflected in the robust EBITDA margin of over 70% and our cash position remains healthy.
The long-term take-or-pay contract we have with the Stanlow Refinery has provided good insulation from the full effect that the Covid-19 pandemic has had on global demand for oil and petroleum products.
Demand for storage capacity in the UK and worldwide remains strong and during our first 6 months we received an increasing number of enquiries from third party customers. We continue to market our assets widely to prospective customers.
Patrick Walters, Chief Executive Officer of Stanlow Terminals, commented: “This has been a period of establishing our business and brand in the market place and there is more work to do. Our focus remains to develop a diverse portfolio of customers, particularly looking at those opportunities involving alternative and low carbon fuels. We are making good progress in discussions with a number of prospective customers.”
He continued: “We have a strong balance sheet and a resilient business model. Continuing to operate at the required levels during this difficult period is testament to the commitment of all our staff and those of our contractors and I would like to thank them for their efforts.”
Stanlow Terminals gains further international standards accreditation
As we continue to strive to meet the highest standards in our environmental performance, we’re proud to announce that we have been awarded the ISO 14001:2015 Environmental Management System accreditation. The certification covers all of the environmentally sensitive aspects of our business, including how we manage and distribute crude products, refined petroleum products, petrochemical products, […]
Stanlow Terminals Welcomes our Chairman, Prashant Ruia
We recently welcomed the chair of the board of Directors, Prashant Ruia, to Stanlow Terminals for a tour of our facilities and to discuss in more detail our plans to create a sustainable, industry-leading product offering. It was fantastic to show him around our site and lay out our vision for the future. One part […]
Q&A with our HSSE Manager
Our Health, Safety, Security and Environment (HSSE) Manager Lee Deponeo heads up our work to safeguard best practice across the business. His team ensures the very highest standards are upheld as we develop the sustainable energy hub of the future. Lee has more than 15 years’ experience in the health and safety department at Stanlow […]