Finland's Neste Q1 EBITDA more than quadruples on higher prices

Neste Oyj

29/04/2026 07:14

Overview

Finland renewable fuels and oil refiner's Q1 revenue rose slightly yr/yr amid volatile markets

Comparable EBITDA for Q1 more than quadrupled yr/yr, driven by higher end-product prices

Company says refinery performance was limited by production constraints but met customer commitments

Outlook

Neste expects Renewable Products sales volumes in 2026 to be similar to 2025

Company expects Oil Products sales volumes in 2026 to decline due to planned maintenance

Neste estimates 2026 capital expenditure excluding M&A at EUR 1.0-1.2 bln

Result Drivers

HIGHER END-PRODUCT PRICES - Soaring global end-product prices drove Q1 comparable EBITDA growth, per CEO Heikki Malinen

PERFORMANCE IMPROVEMENT PROGRAM - EUR 100 mln EBITDA improvement in Q1 attributed to ongoing performance improvement program

STRONG MARGINS AND DEMAND - Renewable Products and Oil Products segments benefited from higher sales margins and strong demand for middle distillates, despite production limitations

Company press release: ID:nWkr6PKrX5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 5.16 bln
Q1 Comparable EBITDA
EUR 861 mln
Q1 EBITDA
EUR 903 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 12 "strong buy" or "buy", 7 "hold" and 4 "sell" or "strong sell"

The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

Wall Street's median 12-month price target for Neste Oyj is €27.25, about 1.6% below its April 28 closing price of €27.69

The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)