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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Neste    NESTE   FI0009013296

NESTE

(NESTE)
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Neste : satisfied with the preliminary agreement on EU Renewable Energy Directive (RED II)

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06/14/2018 | 08:04am EDT

Neste Corporation Press Release 14 June 2018 at 3 pm. (EET)

The trialogue negotiations between the European Council, the European Parliament and the European Commission on the post-2020 EU Renewable Energy Directive (RED II) took place in Strasbourg on 13 June.

"We are pleased with the agreement on the EU-wide overall target of 32% for renewables in 2030, and the target of 14% for renewables in transport in 2030. This shows that the European Union takes climate change seriously, and its ambition to use renewable energy is growing. Based on the information we have, it seems that the current broad raw material base, including waste and residues and sustainable vegetable oils, as raw materials for producing renewable fuels is maintained," says Ilkka Räsänen, Director of Public Affairs at Neste.

The use of renewable energy in transport reduces global climate emissions. Neste MY Renewable Diesel™, for example, cuts greenhouse gas emissions by up to 90 % over its lifecycle when compared to conventional fossil diesel.

"We also welcome the support for aviation biofuels as emissions of aviation are growing  and sustainable aviation biofuels, like Neste MY Renewable Jet Fuel™, are one of the most efficient means of reducing greenhouse gas emissions in aviation industry," continues Räsänen.

The agreement reached in the trialogue negotiations needs to be approved by the European Parliament and the European Council.

Neste Corporation
Kaisa Lipponen
Director, Corporate Communications

Further information: Ikka Räsänen, Director, Public Affairs, Neste, tel. +358 50 458 5123

Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing  renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com (http://www.neste.com/en)

http://news.cision.com/neste/r/neste-satisfied-with-the-preliminary-agreement-on-eu-renewable-energy-directive--red-ii-,c2548311

(c) 2018 Cision. All rights reserved., source Press Releases - English

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Financials (€)
Sales 2019 15 122 M
EBIT 2019 1 701 M
Net income 2019 1 394 M
Finance 2019 462 M
Yield 2019 2,67%
P/E ratio 2019 18,43
P/E ratio 2020 17,63
EV / Sales 2019 1,65x
EV / Sales 2020 1,67x
Capitalization 25 361 M
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Mean consensus HOLD
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Average target price 33,4 €
Spread / Average Target 1,4%
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Peter Vanacker President & Chief Executive Officer
Matti Kähkönen Chairman
Jyrki Mäki-Kala Chief Financial Officer
Lars Peter Lindfors Senior Vice President-Technology
Laura Marita Raitio Vice Chairman
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