Neste Oyj

Latest Results (15.11.2025):

Neste Oyj’s half-year financial report for January–June 2025, with detailed insights for the second quarter of 2025, shows a mixed performance. While the second quarter delivered improved operational results—with higher comparable EBITDA, robust sales volumes, and a positive cash flow before financing activities—the first half of the year still faced pressures from lower market prices and restructuring-related costs, impacting profitability and earnings per share.

Q2 2025 Operational Performance

In the second quarter of 2025, Neste Oyj achieved a comparable EBITDA of EUR 341 million (up from EUR 240 million in Q2 2024) and generated an EBITDA of EUR 246 million (compared to EUR 119 million previously). The positive cash flow before financing activities of EUR 226 million marks an impressive turnaround from a loss of EUR 466 million in the same quarter last year.

Segment Highlights

Renewable Products posted a comparable EBITDA of EUR 174 million, bolstered by record quarterly sales volumes of 1,096 thousand tons, despite a slightly lower sales margin (USD 361/ton versus USD 382/ton last year). Oil Products also improved with a comparable EBITDA of EUR 135 million, benefiting from increased sales volumes even though the total refining margin declined to USD 10.0/bbl from USD 15.1/bbl in the previous year. Marketing & Services contributed EUR 32 million in comparable EBITDA.

First-Half (H1) 2025 Results and Profitability

For the January–June period 2025, Neste Oyj’s group comparable EBITDA reached EUR 551 million, while the overall EBITDA was EUR 446 million. However, profitability was under pressure with a profit before income taxes of EUR -108 million and a net result of EUR -76 million, leading to earnings per share of EUR -0.10 compared to EUR 0.02 in H1 2024. The impact of one-off restructuring costs and inventory valuation losses contributed to these results.

Strategic Initiatives & Outlook

The company’s continued focus on a performance improvement program and working capital efficiency has generated a EUR 107 million EBITDA run rate impact by the end of Q2 2025. Looking ahead, Neste Oyj remains committed to enhancing its competitiveness and financial strength, even as it navigates ongoing market volatility and geopolitical uncertainties. The outlook for 2025 includes expectations for higher sales volumes in both Renewable and Oil Products, along with planned maintenance turnarounds and sustained investment in strategic growth projects.