Finland's Neste Q3 core profit beats estimates

Neste, the Finnish biofuel and oil refiner, posted an improved core profit than expected for the third quarter 2025. It cited higher distillate prices in Europe as well as a stronger demand.

The company's operating profit before depreciation, amortization and other costs (EBITDA), which is comparable to the company's annual results, jumped by 81% and reached 531 million euro ($619m) in comparison with last year. This was above the 471.5m expected on average by analyst respondents who were surveyed.

Neste stated in a press release that "due to the healthy renewable diesel references prices in Europe in the third quarter more capacity was directed towards this market".

The company added that they still expect to have higher sales in their renewables and oil products business than in 2024. It reiterated, however, that the biofuels market will remain oversupplied by 2025. Neste has expressed concern about the oversupply of renewable fuels, which led it to reduce its outlook by three times and cut 510 jobs during the first half 2025.

(source: Reuters)