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