Neste Oil New Segment Reporting Figures for 2007
In October 2007 Neste Oil published a new divisional structure, which is reflected in its financial segment reporting as of 1 January 2008. Neste Oil will report on the performance of all five business divisions i.e. Oil Refining, Biodiesel, Specialty Products, Oil Retail, and Shipping separately from then on. Furthermore, the operations of Research and Technology unit and Neste Jacobs will be reported under Other, which includes Group administration and shared services functions.
The new reporting segments are Biodiesel and Specialty Products. The figures for Biodiesel and the businesses now grouped under Specialty Products, together with Research and Technology unit and Neste Jacobs, were reported under Oil Refining until the end of 2007.
Unaudited quarterly figures for 2007 according to the new segment reporting structure are presented in the tables below.
In the full year financial statements the 2007 figures were reported according to the previous segment structure. The new segment structure will be implemented in the first-quarter report to be published on 24 April 2008.
Neste Oil Corporation
Osmo Kammonen Senior Vice President, Corporate Communications
Further information: Mr. Petri Pentti, CFO, tel +358 10 458 4490.
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company focused on advanced, clean traffic fuels, with a strategy that prioritizes growing its refining and premium-quality biodiesel businesses. Neste Oil’s refineries are located at Porvoo and Naantali in Finland, and have a total refining capacity of approx. 260,000 bbl/d. The company employs around 4,800 people and its shares are listed on the Nordic Exchange Helsinki. For further information, see www.nesteoil.com.
NESTE OIL GROUP Unaudited
COMPARATIVE FIGURES FOR THE FINANCIAL PERIOD 2007 IN ACCORDANCE WITH THE NEW SEGMENT STRUCTURE
Neste Oil’s reporting segments are the five business divisions Oil Refining, Biodiesel, Specialty Products, Oil Retail and Shipping as well as Other segment consisting of Group administration, shared service functions as well as Research and Technology and Neste Jacobs.
SALES Cumulative Quarterly figures figures 1-12 1-9 1-6 1-3 10-12 7-9 4-6 1-3 MEUR /2007 /2007 /2007 /2007 /2007 /2007 /2007 /2007 Oil Refining 9348 6608 4298 1782 2740 2310 2516 1782 Biodiesel 40 13 6 2 27 7 4 2 Specialty Products 649 511 347 166 138 164 181 166 Oil Retail 3435 2470 1617 774 965 853 843 774 Shipping 394 307 225 110 87 82 115 110 Other 93 67 47 23 26 20 24 23 Eliminations -1856 -1334 -876 -400 -522 -458 -476 -400 Total 12103 8642 5664 2457 3461 2978 3207 2457 OPERATING PROFIT Cumulative Quarterly figures figures 1-12 1-9 1-6 1-3 10-12 7-9 4-6 1-3 MEUR /2007 /2007 /2007 /2007 /2007 /2007 /2007 /2007 Oil Refining 640 501 353 107 139 148 246 107 Biodiesel -12 -14 -7 -3 2 -7 -4 -3 Specialty Products 122 112 78 31 10 34 47 31 Oil Retail 60 51 29 11 9 22 18 11 Shipping 30 35 39 23 -5 -4 16 23 Other -37 -28 -12 -6 -9 -16 -6 -6 Eliminations -2 1 -2 1 -3 3 -3 1 Total 801 658 478 164 143 180 314 164 COMPARABLE OPERATING PROFIT Cumulative Quarterly figures figures 1-12 1-9 1-6 1-3 10-12 7-9 4-6 1-3 MEUR /2007 /2007 /2007 /2007 /2007 /2007 /2007 /2007 Oil Refining 484 399 274 106 85 125 168 106 Biodiesel -13 -16 -10 -5 3 -6 -5 -5 Specialty Products 109 107 73 32 2 34 41 32 Oil Retail 59 49 28 11 10 21 17 11 Shipping 28 32 33 21 -4 -1 12 21 Other -39 -30 -13 -8 -9 -17 -5 -8 Eliminations -2 1 -2 1 -3 3 -3 1 Total 626 542 383 158 84 159 225 158 DEPRECIATION, AMORTIZATION AND IMPAIRMENTS Cumulative Quarterly figures figures 1-12 1-9 1-6 1-3 10-12 7-9 4-6 1-3 MEUR /2007 /2007 /2007 /2007 /2007 /2007 /2007 /2007 Oil Refining 126 89 53 24 37 36 29 24 Biodiesel 5 3 1 0 2 2 1 0 Specialty Products 13 10 7 3 3 3 4 3 Oil Retail 27 20 13 6 7 7 7 6 Shipping 15 11 7 4 4 4 3 4 Other 9 6 3 2 3 3 1 2 Total 195 139 84 39 56 55 45 39 SHARE OF PROFIT OF ASSOCIATES AND JOINT VENTURES Cumulative Quarterly figures figures 1-12 1-9 1-6 1-3 10-12 7-9 4-6 1-3 MEUR /2007 /2007 /2007 /2007 /2007 /2007 /2007 /2007 Oil Refining 0 0 0 0 0 0 0 0 Biodiesel 0 0 0 0 0 0 0 0 Specialty Products 39 31 14 1 8 17 13 1 Oil Retail 0 0 0 0 0 0 0 0 Shipping 0 0 0 0 0 0 0 0 Other 0 0 0 0 0 0 0 0 Total 39 31 14 1 8 17 13 1 CAPITAL EXPENDITURE AND INVESTMENT IN SHARES Cumulative Quarterly figures figures 1-12 1-9 1-6 1-3 10-12 7-9 4-6 1-3 MEUR /2007 /2007 /2007 /2007 /2007 /2007 /2007 /2007 Oil Refining 193 147 116 72 46 31 44 72 Biodiesel 69 47 34 17 22 13 17 17 Specialty Products 5 3 2 1 2 1 1 1 Oil Retail 51 27 18 7 24 9 11 7 Shipping 2 2 1 1 0 1 0 1 Other 14 10 6 2 4 4 4 2 Total 334 236 177 100 98 59 77 100 30 31 NET ASSETS 31 Dec 30 Sep June March MEUR 2007 2007 2007 2007 Oil Refining 2165 2189 2076 2258 Biodiesel 142 122 112 88 Specialty Products 324 359 320 336 Oil Retail 381 368 318 319 Shipping 297 298 311 309 Other 59 51 52 47 Eliminations 2 3 -1 -1 Total 3370 3390 3188 3356 RETURN ON NET 30 31 ASSETS, % 31 Dec 30 Sep June March 2007 2007 2007 2007 Oil Refining 30,1 31,5 33,7 20,3 Biodiesel -11,4 -19,3 -15,9 -15,8 Specialty Products 36,8 44,7 48 37,8 Oil Retail 17,4 20,3 17,9 13,4 Shipping 9,9 15,4 25,5 30,3 COMPARABLE RETURN ON NET 30 31 ASSETS, % 31 Dec 30 Sep June March 2007 2007 2007 2007 Oil Refining 22,7 25,1 26,1 20,1 Biodiesel -12,3 -22,1 -22,7 -26,3 Specialty Products 32,9 42,7 44,9 39 Oil Retail 17,1 19,5 17,3 13,4 Shipping 9,3 14 21,6 27,7 Copyright Copyright Hugin AS 2008. All rights reserved.
SOURCE: Neste Oil Oyj