Strong Q3 Financial Performance
Neste reported a comparable EBITDA of EUR 531 million, with contributions from Renewable Products at EUR 266 million, Oil Products at EUR 232 million, and Marketing & Services at EUR 34 million. The performance improvement program achieved a run rate of EUR 229 million by the end of Q3.
Operational Achievements in Renewable Products
Record high SAF sales volume was achieved, with over 1 million tons of renewable products sold in Q3. The comparable sales margin in renewable products rose significantly to almost $500 per ton.
Improved Refining Margin
The total refining margin for Oil Products exceeded $15 per barrel, significantly aiding the quarterly results.
Cost Management and CapEx Control
Neste successfully managed its CapEx, expecting to spend around EUR 1 billion for the full year, down from earlier projections. The company also noted a reduction in fixed and variable costs.