Record-high full-year comparable operating profit and strong cash flow - dividend proposal EUR 1.00 per share

Neste Corporation
Financial Statements Release
4 February 2016 at 9 am. (EET)

Record-high full-year comparable operating profit and strong cash flow - dividend proposal EUR 1.00 per share

2015 in brief:

· Comparable operating profit totaled EUR 925 million (2014: EUR 583 million)
· IFRS operating profit totaled EUR 699 million (2014: 150 million)
· Oil Products' total refining margin was USD 11.79/bbl (2014: USD 9.83/bbl)
· Major turnaround at the Porvoo refinery completed during the second quarter.
· Renewable Products' comparable sales margin was USD 299/ton (2014: USD 278/ton)
· Cash flow before financing activities was EUR 480 million (2014: EUR -59 million)
· Return on average capital employed (ROACE) was 16.3% (2014: 10.1%)
· Leverage ratio was 29.4% at the end of December (31.12.2014: 37.9%)
· Comparable earnings per share were EUR 2.84 (2014: EUR 1.60)
· The Board of Directors will propose a dividend of EUR 1.00 per share (2014: 0.65), totaling EUR 256 million (2014: EUR 166 million).

Fourth quarter in brief:

· Comparable operating profit totaled EUR 352 million (Q4/2014: EUR 256 million)
· Oil Products' comparable operating profit was EUR 91 million (Q4/2014: EUR 110 million)
· Renewable Products' comparable operating profit was EUR 231 million (Q4/2014: EUR 142 million)
· Oil Retail's comparable operating profit was EUR 17 million (Q4/2014: EUR 8 million)
· Cash flow before financing activities was EUR 300 million (Q4/2014: EUR 237 million)

President & CEO Matti Lievonen:

"Neste generated an excellent result in 2015 despite the largest major turnaround in the history of the Porvoo refinery. We posted a full-year comparable operating profit of EUR 925 million (583 million), almost 60% over the previous year's level. I am very pleased to note that all business areas were able to improve their result. Crude oil prices continued to decline in 2015, which reduced our revenue, but the margin environment remained favorable. We generated a strong cash flow. One of the major achievements in 2015 was that our return on average capital employed after tax exceeded the long term target level of 15%.