Neste Oyj

Neste Corporation announced that it received a notification from BlackRock, Inc. indicating that BlackRock's holdings in Neste have exceeded 5% of the total shares and voting rights as of August 9, 2024. Specifically, BlackRock's aggregate holdings, including financial instruments, amount to 5.11% of Neste's total shares. Neste Corporation has a total of 769,211,058 shares, each granting one vote. For further details, contact Neste's media service. Neste Corporation focuses on transforming waste into renewable fuels and materials, aiming to reduce greenhouse gas emissions and achieve carbon-neutral production by 2035. In 2023, Neste reported a revenue of EUR 22.9 billion. More information is available on their website.

Neste Corporation announced on 9 August 2024 that it received a notification from BlackRock, Inc. under the Finnish Securities Market Act. As of 8 August 2024, BlackRock's aggregate holdings in Neste Corporation, excluding certain financial instruments, fell below 5% of the total shares and voting rights. Including these financial instruments, BlackRock holds 5.06% of Neste's shares. Neste's share stock consists of 769,211,058 shares, each granting one vote. For further information, contact Neste's media service. Neste, listed on Nasdaq Helsinki, focuses on transforming waste into renewable fuels and aims to reduce greenhouse gas emissions significantly by 2030. The company plans to make its Porvoo refinery the most sustainable in Europe and achieve carbon-neutral production by 2035. Neste reported a revenue of EUR 22.9 billion in 2023 and is recognized for its sustainability efforts globally.

Neste Corporation announced on 8 August 2024 that it received a notification from BlackRock, Inc. under the Finnish Securities Market Act. The notification indicated that BlackRock's direct and indirect holdings in Neste Corporation exceeded 5% of the total shares and voting rights on 6 August 2024, amounting to 38,940,450 shares or approximately 5.06%. Neste Corporation has a total of 769,211,058 shares, each granting one vote. The company specializes in renewable fuels and circular raw materials, aiming to significantly reduce greenhouse gas emissions and achieve carbon-neutral production by 2035. In 2023, Neste's revenue was EUR 22.9 billion. For further information, contact Neste's media service.

Neste Corporation's Half-Year Financial Report for January to June 2024 highlights a challenging renewables market and significant operational activities, including a major turnaround at the Porvoo refinery. CEO Matti Lehmus noted the impact of lower middle distillate and renewable credit prices, and increased feedstock costs on the company's performance. Despite these challenges, operational performance at Neste's refineries remained solid, with a successful major turnaround at Porvoo. Key financial figures for the second quarter show a notable decrease in comparable EBITDA across segments: Renewable Products at EUR 152 million (down from 513 million in 2023), Oil Products at EUR 62 million (down from 239 million), and Marketing & Services at EUR 24 million (down from 29 million). The Group’s total revenue for the second quarter was EUR 4,642 million, a decrease from EUR 5,351 million in 2023, primarily due to lower sales volumes. For the first half of 2024, Neste reported a revenue of EUR 9,443 million, down from EUR 10,649 million in the same period of 2023. The Group’s comparable EBITDA for this period was EUR 791 million, a significant drop from EUR 1,614 million in 2023. The decrease is attributed to lower sales volumes and margins, particularly in Renewable Products and Oil Products. The outlook for 2024 remains uncertain due to global economic and geopolitical volatility. Neste expects renewable diesel price premiums and bioticket prices to stay low, with volatile feedstock prices. The company anticipates a growth in sustainable aviation fuel (SAF) sales and plans for maintenance shutdowns at refineries in Singapore and Rotterdam. Total fixed costs for the year are projected to be slightly higher due to the Porvoo turnaround and ongoing growth projects, with capital expenditure estimated between EUR 1.4–1.6 billion. Neste remains committed to its strategic goals, including increasing SAF sales, ramping up new production capacity, and improving cost efficiency. The company aims to make the Porvoo refinery the most sustainable in Europe and achieve carbon-neutral production by 2035.

Neste Corporation announced that Heikki Malinen, a member of its Board of Directors, has resigned from his position effective immediately. This resignation follows his appointment as the company's President and CEO, a role he will assume by 2 November 2024 at the latest. Following Malinen's resignation, Neste’s Board now comprises nine members. For further information, contact Neste's media service. Neste Corporation specializes in transforming waste and resources into renewable fuels and materials, aiming to significantly reduce greenhouse gas emissions and achieve carbon-neutral production by 2035. In 2023, the company's revenue was EUR 22.9 billion.