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

NESTE OYJ

(NESTE)
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Neste Oyj : Q3 profit beats forecasts on renewables

10/22/2020 | 02:31am EST

HELSINKI, Oct 22 (Reuters) - Finnish biofuel producer and oil refiner Neste reported a smaller-than-expected fall in its third-quarter profit on Thursday, thanks to its resilient renewables business and despite a very weak refining market.

Neste, which has invested heavily in renewables, said its July-September comparable operating profit fell 14% to 373 million euros ($442 million), beating the 343.5 million expected on average by analysts, Refinitiv Eikon data showed.

Quarterly revenue dropped 27% year-on-year to 2.88 billion euros, missing analysts' average expectation of 2.97 billion.

Neste said its renewables business had improved its sales margin and volume from the same quarter year ago while its oil products segment delivered a slightly negative comparable operating profit.

"Oil Products continued to suffer from a very weak refining market caused by the global COVID-19 related demand destruction and over-supply," Neste Chief Executive Peter Vanacker said in a statement.

Neste's board also decided to pay a second dividend instalment of 0.56 euros per share, consisting of an ordinary dividend of 0.46 euros per share and an extraordinary dividend of 0.10 euros per share.

($1 = 0.8440 euros) (Reporting by Anne Kauranen; Editing by Mark Potter and Carmel Crimmins)


© Reuters 2020
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Financials
Sales 2020 11 638 M 13 914 M 13 914 M
Net income 2020 1 013 M 1 211 M 1 211 M
Net cash 2020 219 M 262 M 262 M
P/E ratio 2020 42,5x
Yield 2020 1,68%
Capitalization 43 137 M 51 556 M 51 572 M
EV / Sales 2020 3,69x
EV / Sales 2021 3,26x
Nbr of Employees 4 890
Free-Float 53,4%
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Technical analysis trends NESTE OYJ
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 49,92 €
Last Close Price 56,18 €
Spread / Highest target 6,80%
Spread / Average Target -11,1%
Spread / Lowest Target -37,7%
EPS Revisions
Managers
NameTitle
Peter Vanacker President & Chief Executive Officer
Matti Kähkönen Chairman
Jyrki Mikael Mäki-Kala CFO, Head-Information Technology & Strategy
Lars Peter Lindfors Senior Vice President-Innovation
Willem Jan Antoon Schoeber Independent Non-Executive Director
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