Neste Oil upgrades its full-year 2013 guidance
(Thomson Reuters ONE) -
Neste Oil Corporation
Stock Exchange Release
10 September 2013 at 9 a.m. (EET)
Neste Oil upgrades its full-year 2013 guidance
Neste Oil expects the Group's full-year 2013 comparable operating profit to
improve significantly compared to 2012 and estimates it to be higher than EUR
530 million. The Group guidance is based on the assumption that Neste Oil's
reference refining margin remains at the average level of approx. USD 5/bbl
typical of the last few years and that Renewable Fuels' result develops as
expected. Previously Neste Oil expected the Group's full-year comparable
operating profit to improve clearly compared to 2012, when comparable operating
profit was EUR 355 million.
The better than expected result development is mainly due to the good results at
Renewable Fuels. The segment's full-year 2013 comparable operating profit is
expected to be above EUR 200 million. The previous guidance was above EUR 120
million. The positive development at Renewable Fuels results from higher sales
volumes particularly in the North American markets, and successful margin
management and utilization of a wide feedstock range. The market conditions have
been exceptionally strong during the third quarter.
"We are very pleased to the development of Renewable Fuels' profitability. We
have been able to turn it into a global new business in roughly five years. We
continue working on improving the segment's profitability, and we focus on
optimizing sales, feedstock base and production", says Neste Oil's President &
CEO Matti Lievonen.
Neste Oil Corporation
Kaisa Lipponen
Director, Corporate Communications
Further information: Jyrki Mäki-Kala, CFO, tel. +358 50 458 4098
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-
emission, high-quality traffic fuels. The company produces a comprehensive range
of major petroleum products and is the world's leading supplier of renewable
diesel. Neste Oil had net sales of EUR 17.9 billion in 2012 and employs around
5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and the
Ethibel Pioneer Investment Register, and has featured in The Global 100 list of
the world's most sustainable corporations for many years. Forest Footprint
Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil &
gas sector. www.nesteoil.com
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Source: Neste Oil Oyj via Thomson Reuters ONE
[HUG#1728224]
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Datum: 10.09.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 294938
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