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Neste: Into the unknown

NESTEResearch2023-10-27 10:43
Inderes
Discuss
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The Q3 figures reported by Neste were well ahead of our expectations, reflecting which we raised our estimates for the current year. However, our focus is on earnings growth in the coming years, driven by volume growth in Renewable Products. In this respect, the outlook for next year is very cloudy due to several variables. In the longer term, however, we are confident that rising sales volumes from investments in Renewable Products will drive earnings growth, even if margins come under pressure from current peak levels.

Neste produces transport fuel and renewable fuels. Today, the largest operations and extraction are held in the Nordic market, where the company is active in the entire value chain, from extraction to delivery to port depots. In addition, the opportunity is given for direct sales where customers can pick up fuel at selected stations. The largest market is in the Nordic region, and the company is headquartered in Espoo, Finland.

Read more on company page

Key Estimate Figures2023-10-26

202223e24e
Revenue25,707.421,931.123,569.8
growth-%69.7 %-14.7 %7.5 %
EBIT (adj.)2,898.02,641.52,086.8
EBIT-% (adj.)11.3 %12.0 %8.9 %
EPS (adj.)3.022.902.13
Dividend1.521.101.15
Dividend %3.5 %3.5 %3.7 %
P/E (adj.)14.310.814.7
EV/EBITDA11.39.78.7

Forum discussions

https://www.argusmedia.com/en/news-and-insights/latest-market-news/2892000-co-processing-saf-faces-technical-cost-policy-hurdles The article...
23 hours ago
by Sinuhe
9
Does the article say whether diesel (and kerosene) is also coming out of there like before?
yesterday
by Sinuhe
5
FPRI researcher RALee85 cites a Bloomberg article (paywall) on X regarding the situation of Russian refineries following the Ukrainian attacks...
yesterday
13
Neste’s most significant European competitor, Eni, released its results today. The Bio segment’s EBITDA rose by 30% from the previous quarter...
10/23/2026, 1:37 PM
by Homeros
46
Pete is kicking off the pre-party in the form of a preview report for Neste’s Q3 results, which will be published next week on Thursday Earnings...
10/21/2026, 9:09 PM
by Sijoittaja-alokas
21
VARA’s consensus target price rose to 37 euros. vara-services.com/neste/
10/20/2026, 7:53 AM
by bottom-ditching
19
Some sort of correction has occurred as the HVO vs. diesel price spread is now narrowing closer to $1,000 per tonne, after hovering around a...
10/19/2026, 11:05 AM
5