Renewables leading the way for Neste’s 2018 profitability

August 5, 2018 |

In Finland, Neste Corporation released its half-year financial report which shows the company had an operating profit during January-June of EUR 592 million compared to last year’s EUR 536 million. Neste’s cash flow before financing activities was super strong this year so far at EUR 373 million compared to last year’s EUR 58 million. Investors were happy to hear comparable earnings per share was at EUR 2.16 compared to EUR 1.24 during the same period last year.

President and CEO Matti Lievonen said, “Neste’s strong financial performance continued in the second quarter. We posted a comparable operating profit of EUR 277 million, compared to EUR 236 million in the corresponding period last year. Renewable Products was again able to exceed the previous year’s performance as a result of successful sales allocation and feedstock optimization, despite the scheduled maintenance activities. Renewable Products posted a comparable operating profit of EUR 177 million (EUR 101 million). The renewable diesel market remained favorable in Europe and North America. As a conclusion, we expect 2018 to be a very strong year for Neste.”

Category: Fuels

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