Neste strengthens global leadership in SAF as third-quarter performance improves

Neste has announced a solid improvement in its third-quarter results, underpinned by continued progress in the company’s performance improvement programme and strong, reliable operational performance across its global production network.
The quarter also saw growing momentum in sustainable aviation fuel (SAF) adoption, reinforcing Neste’s position as the global leader in renewable aviation solutions.
Demand for renewable products increased across Europe during the quarter, driven by a strengthening market environment and ongoing regulatory developments supporting the transition to lower-emission fuels.
Notably, several key markets continued to advance policies encouraging greater uptake of biofuels, including SAF, reaffirming the long-term structural need for renewable solutions in the aviation sector.
President and CEO Heikki Malinen commented: “We delivered improved results in the third quarter, underpinned by the successful continuation of our performance improvement programme and reliable, safe operations. T
“The market environment in Europe strengthened, with increased demand for our products. Middle distillate prices rose from the second-quarter levels and had a positive impact on our result. Furthermore, we observed supportive developments in biofuel regulation across several key markets, reinforcing the long-term structural demand for renewables.
“Our comparable EBITDA in the third quarter reached €531 million. With our performance improvement programme, we achieved €229 million EBITDA run-rate annualised impact by the end of the third quarter.
“Higher inventories in preparation for the planned maintenance activities in Rotterdam and Singapore increased our working capital, resulting in free cash flow of EUR -50 (16) million. Leverage ratio was 38%, well in line with our financial target.”
Neste continues to expand its global SAF production capacity and partnerships with airlines and airports around the world.
The company remains committed to supporting the aviation industry’s transition to lower-emission operations, with SAF capable of reducing lifecycle greenhouse gas emissions by up to 80% compared to fossil jet fuel.