Neste Improves 2025 Results Driven by Performance Improvement Program
Neste Corporation's 2025 financial results showed a turnaround, particularly in the latter half of the year, as a group-wide performance improvement program took effect. Comparable EBITDA rose to EUR 1,683 million.
Espoo – Neste Corporation reported a stronger financial performance for 2025, with results improving significantly towards the end of the year, driven by a group-wide performance enhancement program that included strict capital discipline.
The company's comparable EBITDA for the full year 2025 reached EUR 1,683 million, a substantial increase from EUR 1,252 million in 2024. CEO Heikki Malinen stated that the performance improvement program exceeded its targets, achieving a EUR 376 million run-rate improvement in EBITDA by the end of 2025, a year ahead of schedule. Cash flow from operating activities before financing activities was EUR 759 million, which strengthened the company's leverage ratio.
The Renewable Products segment saw a comparable sales margin of USD 411 per ton, with its comparable EBITDA increasing to EUR 764 million. This segment demonstrated particular strength in the fourth quarter, reporting EUR 252 million in comparable EBITDA despite significant maintenance activities.
In the Oil Products segment, comparable EBITDA improved to EUR 808 million, with refining margins remaining stable. High refinery utilization rates and increased demand in the middle distillate market supported the fourth-quarter results. Neste's strategic investment project in Rotterdam progressed as planned and is expected to increase the company's annual renewable products production capacity.
Neste's board has proposed a dividend of EUR 0.20 per share. For 2026, the company anticipates continuing its efficiency measures, with renewable product sales volumes expected to remain stable and oil product volumes to decrease due to planned maintenance turnarounds.