Neste swings to profit as Iran war lifts jet fuel prices
Neste posted a €1.3bn first-half profit as war-driven jet fuel prices lifted margins. SAF sales beat forecasts, but China pricing pressure still lingered.
Neste posted a €1.3bn net profit for the first half of 2025 on July 24, reversing a €76mn loss a year earlier. The world’s largest renewable jet fuel producer said the swing came as sustainable aviation fuel sales and higher fuel prices supported margins.
The half-year report for January-June 2025, published at 9 a.m. EET, put second-quarter comparable EBITDA at €341mn, up from €240mn a year earlier, and total EBITDA at €246mn versus €119mn. Renewable Products’ comparable sales margin was $361 per ton, down from $382 per ton a year earlier, while Oil Products’ total refining margin was $10.0 per barrel, compared with $15.1 per barrel. Cash flow before financing activities improved to €226mn from negative €466mn.
Neste topped earnings forecasts on soaring SAF sales. Oil prices rose more than 4% on June 17 as the Iran-Israel conflict escalated, then jumped 3% on July 2 after Iran suspended cooperation with the UN nuclear watchdog. Those moves lifted crude and jet fuel benchmarks in mid-2025.
In April, Neste said U.S. tariffs were likely to have only limited impact, but a supply glut was still weighing on the business. The company has also warned that renewable jet fuel could face a price war with China.
Neste refines waste, residues and other raw materials into renewable fuels and sustainable feedstocks. The company aims to reduce greenhouse gas emissions by at least 20 million tonnes annually by 2030, according to the World Economic Forum.
This article was produced by Prism’s automated news system from verified source data, official records, and press releases, then run through automated quality and moderation checks before publishing. The system is built and supervised by the people who set the standards it runs under. Read our full AI policy.
Did this article answer your question?
