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Esso SAF (ES) investor relations material
Esso SAF H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
2025 marked a foundational year with a change in majority shareholder and rebranding, alongside major operational and organizational transitions.
Successfully completed a major planned maintenance shutdown at the Gravenchon refinery and implemented significant organizational changes.
Faced a highly volatile market environment, but improved adjusted EBITDA reflects operational resilience.
Financial highlights
Adjusted EBITDA rose to €179M in 2025 from €58M in 2024, reflecting strong operational performance.
Reported a net loss of €93M in 2025, compared to a net profit of €107M in 2024.
Operating loss of €209M in 2025, versus an operating profit of €74M in 2024.
Revenue declined 37% year-over-year to €11.4B, mainly due to the sale of the Fos-sur-Mer refinery.
Significant non-recurring asset impairment of €206M recognized under IAS 36.
Outlook and guidance
Anticipates continued challenging crude supply conditions for independent refiners in 2026 due to geopolitical instability.
Focused on adapting to its new status as an independent refiner, optimizing assets, and extending its operating permit by 10%.
Ongoing projects to improve energy efficiency and reduce emissions.
- Net loss of €85m and 35% revenue drop in H1 2025 amid refinery sale, shutdown, and pending sale.ES
H1 202519 Sep 2025 - Net income dropped to €116M amid lower margins, asset sale, and strong net cash of €1.1B.ES
H1 202413 Jun 2025 - Profits fell sharply but Esso S.A.F. proposes a record €53/share dividend for 2024.ES
H2 20245 Jun 2025
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