Neste improves 2025 results with performance enhancement program
Neste Oyj reported a significant improvement in its 2025 financial results, surpassing its performance enhancement program targets ahead of schedule.
Helsinki – Neste Oyj announced on February 5, 2026, a strengthened financial statement for 2025, showing considerable improvement compared to the previous year. The company's performance enhancement program, initiated to address challenging market conditions at the year's start, exceeded its previously set goals.
The Group's comparable EBITDA rose to EUR 1,683 million for 2025, up from EUR 1,252 million in the prior year. This development notably surpassed the company's target of EUR 350 million in performance improvements by the end of 2026. The program achieved an equivalent EBITDA run rate improvement of EUR 376 million within 2025.
Neste's business improvements and strict working capital management led to a free cash flow of EUR 759 million for 2025, a reversal from a negative EUR 341 million the previous year. This improved the company's leverage ratio to 34.3%, well below the 40% target.
The Renewable Products segment underwent significant ramp-up and maintenance activities, yet the company's comparable EBITDA improved to EUR 764 million. The Oil Products segment's comparable EBITDA increased to EUR 808 million, supported by improved refinery utilization and higher margins.
Neste President and CEO Heikki Malinen stated that 2025 marked a turning point for the company, with the performance enhancement program, including strict capital discipline, driving substantial improvements. The company anticipates continued favorable regulatory developments and increasing demand for renewable fuels in Europe.