Neste Reports 2021 Financial Results, Proposes Dividend Increase
Neste Oyj released its 2021 financial statements, reporting a total operating profit of EUR 2.02 billion. The company's board of directors will propose an increased dividend of EUR 0.82 per share.
Neste Corporation announced its 2021 financial results on February 10, 2022. The company reported a total operating profit of EUR 2,023 million for the full year, a significant increase from EUR 828 million in 2020. Comparable operating profit stood at EUR 1,342 million, a slight decrease from EUR 1,416 million in the previous year.
The company attributed the results to a year marked by major scheduled maintenance shutdowns and high feedstock and utility costs. Despite these challenges, Neste's Renewable Products division saw improved sales volumes and margins. The Oil Products segment benefited from a market recovery, although its performance was impacted by a large-scale turnaround at the Porvoo refinery and the closure of the Naantali refinery.
Neste's board of directors plans to propose a dividend of EUR 0.82 per share, an increase from the EUR 0.80 per share paid in the previous year. The total proposed dividend payout amounts to EUR 630 million.
The company also highlighted strategic progress, including investments aimed at expanding renewable products capacity and advancing its sustainability targets, such as making the Porvoo refinery the most sustainable in Europe by 2030.