Neste Reports Improved Performance in First Half 2025, Performance Improvement Program Delivers
Neste Corporation has released its half-year financial report for 2025. The company's comparable EBITDA improved in the second quarter to EUR 341 million, with its performance improvement program progressing as planned.
Helsinki – Neste Oyj reported an improved financial performance in the first half of 2025 in its half-year financial report published on July 24, 2025. The company’s comparable EBITDA stood at EUR 551 million, a decrease from EUR 791 million in the first half of 2024. In the second quarter, comparable EBITDA was EUR 341 million, a significant increase from EUR 240 million in the second quarter of 2024.
President and CEO Heikki Malinen stated that the company's operations were safe and reliable. He acknowledged market volatility due to geopolitical tensions and trade disputes, but highlighted the positive impact on results from increased middle distillate prices late in the second quarter. The performance improvement program, aimed at enhancing cost competitiveness and production reliability, has delivered an EBITDA run rate impact of EUR 107 million by the end of the reporting period.
In the Renewable Products segment, comparable EBITDA was EUR 174 million in the second quarter, with increased sales volumes offset by lower margins compared to the previous year. Sales volumes achieved a new quarterly record, and the company reported an almost 80% increase in sustainable aviation fuel (SAF) sales quarter-on-quarter, benefiting from expanded production capacity at its Rotterdam refinery.
The Oil Products segment reported a comparable EBITDA of USD 10.0 per barrel, a decrease from the prior year. However, sales volumes doubled to 3,021 thousand tons, influenced by the larger turnaround at the Porvoo refinery in 2024. The Marketing & Services segment achieved a comparable EBITDA of EUR 32 million.
Neste's strategic growth investment at the Rotterdam refinery is proceeding according to plan. Upon completion in 2027, it will be the world's largest facility for renewable diesel and SAF production. The company continues its efforts to improve its competitiveness and financial position in a challenging market environment.