Inside information: Neste changes its guidance due to an unplanned shutdown of Rotterdam refinery

Neste Corporation, Stock Exchange Release / Inside information, 8 November 2024 at 5 p.m. (EET)

Neste’s Rotterdam refinery has been shut down due to a fire on 8 November 2024. The fire has been extinguished and it did not cause any injuries. Neste is currently investigating the incident and the repair work will start as soon as possible. 

Based on our initial assessment, the Rotterdam refinery production will be down for several weeks impacting the renewable diesel customer deliveries. As a result, Neste changes its Renewable Products total sales volume guidance for 2024:

The revised 2024 guidance for Renewable Products is: “Renewable Products’ total sales volume is expected to increase from 2023 and to reach approximately 3.7 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 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”

We are mitigating any impacts on our renewable diesel customers. The incident has no effect on the ongoing Rotterdam refinery expansion project.

Neste Corporation

Hanna Maula
Vice President, Communications and Brand

Further information: 

Anssi Tammilehto, Interim CFO and Vice President, Investor Relations, tel. +358504588436

Please contact Neste’s media service, tel. +358 800 94025 / 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. 

Neste in brief

Neste (NESTE, Nasdaq Helsinki) uses science and innovative technology to transform waste and other resources into renewable fuels and circular raw materials. The company creates solutions for combating climate change and accelerating a shift to a circular economy. Being the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, the company aims to help its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.

The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the CDP and the DJSI lists of the world’s most sustainable companies. In 2023, Neste’s revenue stood at EUR 22.9 billion. Read more: neste.com