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

NESTE OYJ

(NESTE)
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Neste Oyj : sells its shares in Nynas to Bitumina Industries

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09/16/2020 | 04:20am EDT
Neste Corporation, Press Release, 16 September 2020 at 10 a.m. (EET)

Neste AB has sold its 49.99% shares in Nynas AB to Bitumina Industries Ltd on Tuesday 15 September 2020.

"We have been an owner in Nynas since the 1990's and have seen the company develop into a global leader in naphthenic specialty oils and a premier bitumen partner in Europe. We believe that the sale of Neste's shares in Nynas to an industrial player with a strong focus in the same sector is the right solution for Nynas, recognizing also the ongoing reorganization process," says Neste's Chief Financial Officer Jyrki Mäki-Kala.

Nynas is a Swedish manufacturer and marketer of naphthenic specialty oils and bitumen products. Nynas has four refineries: Harburg in Germany, Nynäshamn and Gothenburg in Sweden and Eastham in the UK. Eastham is a joint venture with Shell.

The Bitumina Group is a vertically integrated specialty Bitumen company which has expanded its business on a global scale.

"We take great pride in having been able to acquire the shares of Neste in Nynas which is a natural expansion in our global industrial bitumen portfolio. We are certain that we can contribute to the successful future of Nynas", says Bernd Schmidt, Executive Chairman of Bitumina Industries Ltd.

Neste Corporation

Susanna Sieppi
Vice President, Communications (act.)

For further information: Please contact Neste's media service, tel. +358 50 458 5076 / media@neste.com (weekdays between 8.30 a.m. and 4.00 p.m. EET).

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 2019, Neste's revenue stood at EUR 15.8 billion. In 2020, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com

Disclaimer

Neste Oyj published this content on 16 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2020 07:19:06 UTC


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Sales 2020 11 754 M 13 716 M 13 716 M
Net income 2020 1 037 M 1 210 M 1 210 M
Net cash 2020 195 M 227 M 227 M
P/E ratio 2020 33,0x
Yield 2020 2,10%
Capitalization 34 215 M 39 896 M 39 925 M
EV / Sales 2020 2,89x
EV / Sales 2021 2,58x
Nbr of Employees 4 890
Free-Float 53,4%
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 49,61 €
Last Close Price 44,56 €
Spread / Highest target 34,6%
Spread / Average Target 11,3%
Spread / Lowest Target -21,5%
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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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