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Neste (DE:NEFA)
FRANKFURT:NEFA
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.15Last Year’s EPS
-0.02Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a clear financial turnaround in 2025 with materially stronger EBITDA (≈ +31% YoY), exceptional quarter cash flow, a PIP that exceeded targets ahead of schedule, doubled SAF volumes and strong operational execution (Porvoo Q4 utilization 90%). These positives were balanced against margin headwinds from term contract timing and higher feedstock costs, a maintenance-heavy quarter and an upcoming Porvoo turnaround (reducing 2026 OP volumes), ongoing CapEx and elevated gross debt, plus uncertainties around SAF mandates, Chinese imports and Rotterdam ramp-up timing. On balance the call portrayed significant progress and momentum while acknowledging medium-term operational and market uncertainties.Company Guidance
Strong comparable EBITDA and quarterly performance
Comparable EBITDA for 2025 was EUR 1.683 billion, an improvement of over EUR 400 million versus the prior year (≈ +31%). Q4 comparable EBITDA was EUR 601 million and Q4 free cash flow was exceptionally strong at EUR 809 million. Full year cash flow before financing activities reached EUR 759 million.
Performance Improvement Program (PIP) exceeded target
The PIP delivered a run-rate benefit of EUR 376 million (achieved one year ahead of plan). EUR 172 million of this run-rate impacted the 2025 P&L. Roughly 75% of savings came from cost reduction (procurement/logistics) and 25% from margin and volume optimization. The program will continue into 2026 with further upside targeted.
Substantial SAF and renewable product volume growth
SAF volumes doubled to ~867,000 tonnes in 2025 (+100% YoY). Renewable Products volumes increased from ~3.7 million to ~4.1 million tonnes (+~10.8% YoY). Renewable Products sales in Q4 reached ~1.1 million tonnes.
Oil Products operational strength and market capture
Porvoo refinery utilization reached 90% in Q4. Oil Products Q4 comparable EBITDA was EUR 321 million. Refining margin exceeded USD 20/bbl in the quarter and the diesel crack spike approached ~USD 30/bbl, which the team was able to capture.
Marketing & Services improvement and new retail initiatives
Marketing & Services improved results by ~10% year-on-year and Q4 EBITDA was EUR 28 million. The business launched new retail concepts in Finland with positive market reception.
Balance sheet progress and stable shareholder return
Leverage is clearly below the 40% cap set earlier, showing meaningful deleveraging progress. The Board proposes maintaining the dividend at EUR 0.20 per share (same as prior year).
Working capital and inventory management drove cash flow
Strong focus on AR/AP and inventory reductions in Q4 materially improved working capital and contributed to the strong quarter cash flow. Company reiterates 2026 cash-out investment guidance of EUR 1.0–1.2 billion.
Safety improvements and Rotterdam project progress
Process safety improved (process safety metric noted at 0.9) and total recordable injury frequency rate declined slightly. The Rotterdam capacity expansion shows good on-site safety and steady progress toward the planned 2027 start-up.
DE:NEFA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:NEFA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | €10.70 | €10.70 | 0.00% |
Oct 29, 2025 | €9.40 | €9.70 | +3.19% |
Jul 24, 2025 | €6.35 | €6.35 | 0.00% |
Apr 29, 2025 | €3.76 | €3.80 | +1.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Neste (DE:NEFA) report earnings?
Neste (DE:NEFA) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Neste (DE:NEFA) earnings time?
Neste (DE:NEFA) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Neste stock?
The P/E ratio of Neste is N/A.
What is DE:NEFA EPS forecast?
DE:NEFA EPS forecast for the fiscal quarter 2026 (Q1) is 0.15.