Neste reports continued strong demand for renewable diesel

Neste released financial results for the first half of 2021 on July 27, reporting solid performance for its renewable products segment. Demand for renewable diesel was robust, but feedstock markets were tight, the company reported.

Peter Vanacker, president and CEO of Neste, said that the company’s renewable products business segment continued to be resilient during the first half of the year and was able to maintain a healthy sales margin.

Neste’s renewable products segment posted a comparable operating profit of EUR 287 million for the second quarter he said, down from EUR 314 million during the same period of last year. “The renewable diesel demand was robust, but the feedstock markets remained very tight as expected,” he added. “We were able to reach a healthy comparable sales margin of USD 700/ton. Our sales volumes were 732,000 tons, impacted by the scheduled Porvoo units’ maintenance and postponement of some end-June deliveries. The Porvoo maintenance had a negative impact of approximately EUR 40 million on the segment’s comparable operating profit. Feedstock mix optimization continued, and the share of waste and residue inputs increased to 93 percent.”