SOURCE: Neste Oil Oyj

April 26, 2007 02:10 ET


ESPOO, FINLAND -- (MARKET WIRE) -- April 26, 2007 --

- Comparable operating profit 33% higher at EUR 158 million

First-quarter performance in brief:
*  Sales of EUR 2,457 million (Q1/06: 2,796 million)
*  Comparable operating profit of EUR 158 million (Q1/06: 119 million)
*  Operating profit of EUR 164 million (Q1/06: 153 million)
*  Earnings per share of EUR 0.46 (Q1/06: 0.44)
*  Cash flow from operations of EUR -107 million (Q1/06: -150 million)
*  Net debt of EUR 987 million (Q1/06: 1,272 million)
*  Total refining margin rose to USD 9.62 /bbl (Q1/06: 8.52)

President & CEO Risto Rinne:

"We had a very good first quarter. Our refineries ran smoothly and we were supported by an exceptionally strong gasoline market. Thanks to our unique refining capability, we could benefit from the strong gasoline demand in the US market, and California in particular. In addition, the contribution made by our base oils business was again very positive."

"The start-up of our new diesel production line has progressed to the oil-in phase, and construction of our first NExBTL Renewable Diesel plant has continued according to plan. Studying the potential of new, cost-effective feedstocks represents a key element in our strategy. In line with this, we announced a joint research program to utilize forest biomass in biodiesel production."

Further information:

Risto Rinne, President & CEO, tel. +358 10 458 4990
Petri Pentti, CFO, tel. +358 10 458 4490

News conference and conference call

A press conference in Finnish on the first-quarter results for 2007 will be held today, 26 April 2007, at 11:30 am EET in the Mirror Room at Hotel Kämp, Pohjoisesplanadi 29, Helsinki. will feature English versions of the presentation materials.

An international conference call for investors and analysts will be held today, 26 April 2007, at 3:00 pm Finland / 1:00 pm London / 8:00 am New York. The call-in numbers are as follows: Europe: +44 (0)20 7162 0025, US: +1 334 323 6201. Use the password: Neste Oil. An instant replay of the call will be available until 3 May 2007 at +44 (0)20 7031 4064 for Europe and +1 954 334 0342 for the US, using access code 746216.

Interim Report Q1/07 --

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