Neste Oyj - Inside information

Inside information: Neste revises downwards its 2024 guidance for Renewable Products

Neste Corporation, Stock Exchange Release / Inside Information, 11 September
2024 at 10:30 a.m. (EET)
Neste revises downwards its 2024 guidance for Renewable Products. Renewable
Products' sales prices have been negatively affected by a substantial decrease
in diesel price during the third quarter. At the same time, waste and residue
feedstock prices have not decreased and renewable product market price premiums
have remained weak. Neste also revises its Renewable Products' total sales
volume and SAF sales volume forecasts based on its latest sales outlook. Neste
will optimize its production capacity utilization in Renewable Products
according to the market situation.
The revised 2024 guidance for Renewable Products is: “Renewable Products' total
sales volume is expected to increase from 2023 and to reach approximately 3.9 Mt
(+/- 5%) in 2024, out of which SAF sales volume is expected to be 0.35-0.55
Mton. Renewable Products' full-year 2024 average comparable sales margin is
expected to be in the range of USD 360-480/ton”.
The previous 2024 guidance for Renewable Products was: “Renewable Products'
total sales volume is expected to increase from 2023 and to reach approximately
4.4 Mt (+/- 10%) in 2024, out of which SAF sales volume is expected to be
0.5-0.7 Mton. Renewable Products' full-year 2024 average comparable sales margin
is expected to be in the range of USD 480-580/ton”.
Oil Products' guidance for 2024 remains unchanged.
Neste Corporation
Hanna Maula
Vice President, Communications and Brand
Further information:
Anssi Tammilehto, Vice President, Investor Relations, tel. +358 50 458 8436
Neste's media service, tel. +358 800 94025 / media@neste.com (media@neste.com )
(weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste's releases
at https://www.neste.com/for-media/releases-and-news/subscribe

Neste in brief

Neste (NESTE, Nasdaq Helsinki) uses science and innovative technology to
transform waste and other resources into renewable fuels and circular raw
materials. The company creates solutions for combating climate change and
accelerating a shift to a circular economy. Being the world's leading producer
of sustainable aviation fuel (SAF) and renewable diesel and a forerunner in
developing renewable and circular feedstock solutions for polymers and
chemicals, the company aims to help its customers to reduce their greenhouse gas
emissions by at least 20 million tons annually by 2030.
The company's ambition is to make the Porvoo oil refinery in Finland the most
sustainable refinery in Europe. Neste is committed to reaching carbon-neutral
production by 2035, and will reduce the carbon emission intensity of sold
products by 50% by 2040. Neste has also set high standards for biodiversity,
human rights and the supply chain. The company has consistently been included in
the CDP and the DJSI lists of the world's most sustainable companies. In 2023,
Neste's revenue stood at EUR 22.9 billion. Read more:
neste.com (http://www.neste.com)