)

Neste (NESTE) investor relations material
Neste Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Performance improvement program delivered €107M EBITDA run-rate improvement by June, targeting €350M by end of 2026.
Rotterdam SAF production started, achieving record renewable product volumes and operational reliability.
Cash flow before financing activities improved to €226M in Q2 2025 from -€225M in Q1 2025.
Regulatory developments in Europe and the US support long-term renewables demand.
Organizational restructuring led to one-off costs of €30M in H1, excluded from comparable EBITDA.
Financial highlights
Q2 group comparable EBITDA reached €341M, with Renewable Products at €174M and Oil Products at €135M.
Q2 revenue was €4,511M, down from €5,017M in Q1 2025 and €4,642M year-over-year.
Comparable earnings per share was €0.06 in Q2 2025, compared to -€0.04 in Q1 2025.
Free cash flow was €226M, supported by strong profitability and working capital management.
Refining margin for Oil Products was $10/barrel, below expectations due to higher crude costs.
Outlook and guidance
Renewable and Oil Products sales volumes in 2025 expected to be higher than in 2024.
Renewable fuels market expected to remain oversupplied in 2025; oil and renewable fuel markets sensitive to oil price volatility.
Full-year 2025 capex (excluding M&A) estimated at €1.0–1.2B.
Scheduled maintenance turnarounds in Rotterdam (Q4 2025) and Singapore (from mid-December 2025).
Q3 cash flow will depend more on operative profitability due to inventory build for maintenance.
Next Neste earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage