HELSINKI (dpa-AFX) - Neste Oyj (NEF.F, NESTE.HE), a Finnish oil refining and marketing company, on Friday reported a net profit for the second quarter, helped by increased revenue, driven by higher end-product prices.
Heikki Malinen, CEO of Neste, said: 'Neste delivered record results during the second quarter of 2026. The conflict in the Middle East dominated global oil and product markets through most of the period, creating an exceptional market environment for Neste. At the same time, we benefited from favorable regulatory decisions that will continue to support demand for renewables for years to come.'
For the three-month period to June, the company reported net income of EUR 765 million, or EUR 0.99 per share, compared with loss of EUR 36 million, or EUR 0.05 per share in the same period last year.
Operating income surged to EUR 918 million from the prior year's EUR 18 million. Revenue was EUR 5.987 billion, up from EUR 4.511 billion in the previous year. The company's higher end-product prices boosted revenue by EUR 2.4 billion year-over-year.
Looking ahead, for fiscal 2026, the company expects the sales volumes of renewable products to remain almost flat when compared with fiscal 2025. However, Neste anticipates the sales volumes of oil products to decline due to the planned maintenance turnaround.
For fiscal 2026, the Group expects cash-out capital expenditure, excluding M&A, to be around EUR 1.2 billion.
Neste will release its third-quarter earnings report on October 29.
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