Neste’s half-year financial report for January–June 2025 released
London, July 24, 2025 , (Oilandgaspress) –––Neste’s revenue in the second quarter totaled EUR 4,511 (4,642) million. Lower market prices had a negative impact of EUR -0.6 billion. Sales volumes increased, impacting revenue positively by approximately EUR 1.2 billion, mainly driven by the major turnaround in Porvoo in 2024. Currency exchange rates as well as lower trading volumes had an approximately EUR -0.8 billion negative impact on the revenue.
The Group’s comparable EBITDA was EUR 341 (240) million. Renewable Products’ comparable EBITDA was EUR 174 (152) million, a net positive development of higher sales volume and lower sales margin compared to the second quarter of 2024. Oil Products’ comparable EBITDA was EUR 135 (62) million, where the positive effect from increased sales volumes more than offset the lower margin compared to the second quarter of 2024. Marketing & Services comparable EBITDA was EUR 32 (24) million. Comparable EBITDA for Others was EUR 2 (-1) million.
One-off costs related to organizational restructuring, totaling EUR 6 million, were booked in the second quarter results. These one-off costs have been eliminated from comparable EBITDA.
The Group EBITDA was EUR 246 (119) million, impacted by inventory valuation losses of EUR 111 (losses 118) million, and changes in the fair value of open commodity and currency derivatives totaling EUR 22 (-4) million. Profit before income taxes was EUR -52 (-169) million, and net result EUR -36 (-144) million. Earnings per share were EUR -0.05 (-0.19).
The Group’s January–June 2025 results
Neste’s revenue in the first six months totaled EUR 9,528 (9,443) million. Lower prices had a negative impact of approximately EUR -1.3 billion. This was more than compensated by volume increases in Renewable Products and Oil Products that resulted in EUR 1.4 billion positive impact. Currency exchange rates as well as lower trading price level in Oil Products had an approximately EUR -0.1 billion negative impact on the revenue.
Group comparable EBITDA was EUR 551 (791) million. Renewable Products’ January-June comparable EBITDA was EUR 246 (394) million, impacted by lower sales margins and higher sales volumes. Oil Products’ comparable EBITDA was EUR 256 (339) million, driven by increased sales volumes and lower sales margin. Marketing & Services comparable EBITDA was EUR 49 (47) million. Other’s comparable EBITDA was EUR -2 (8) million.
One-off costs related to organizational restructuring, totaling EUR 30 million, were booked in the first six months results. These one-off costs have been eliminated from comparable EBITDA.
Group EBITDA was EUR 446 (561) million, impacted by inventory valuation losses of EUR -67 (-246) million and changes in the fair value of open commodity and currency derivatives totaling EUR -8 (26) million. Profit before income taxes was EUR -108 (20) million, and net result was EUR -76 (18) million. Earnings per share were EUR -0.10 (0.02).
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