CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Spreads Muted As Neste Oyj Reports Q4 Revenue Beat With In-Line EBITDA

ENERGY SECTOR
  • Q4 Rev beat consensus by 13% driven by 22% and 3% beats in their Oil and Renewables segments more than offsetting a 6% miss in their much smaller Marketing segment. adj-EBITDA in-line with expectations. DPS appears to have disappointed at EUR 1.20 vs. consensus of EUR 1.37.
  • Leverage ratio of 23% is up from the 14% at FY22 though still aligned with the target of <40%. Q4 FCF of EUR 475mn is -20% YoY though FY FCF of EUR 751mn is up from the negative EUR 390mn in FY22.
  • Management guiding for higher total renewable volumes next year (with a comparable sales margin of USD 600-800 from USD 863 this year) though oil product volumes seen lower on the back of the planned Porvoo turnaround in Q2 (with a lower total refining margin).
  • Management expect continued high volatility in both Oil and Renewables, noting bioticket and renewable credit prices have decreased in the new year.
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.