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"value": "1 General informationNeste Corporation is a Finnish public limited liability company domiciled in Espoo, Finland. Neste Corporation is listed on the NASDAQ Helsinki Oy. The address of its registered office is Keilaranta 21, P.O. Box 95, 00095 Neste, Finland.Neste Corporation and its subsidiaries (together referred to as Neste) is the world\u2019s leading producer of renewable diesel and sustainable aviation fuel (SAF), with production on three continents. The company\u2019s renewables production capacity is expected to reach 6.8 million tons annually in 2027. Neste also produces high-quality oil products at its Porvoo refinery in Finland. The company has a network of nearly 1,000 fuel stations with expanding service offering, such as EV charging, in Finland and in the Baltics.Neste\u2019s refineries are located in Finland, the Netherlands and Singapore. Additionally, Neste has a joint operation together with Marathon Petroleum to produce renewable diesel in the United States. The Board of Directors has approved these consolidated financial statements for issue on 4th of February 2026.",
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"value": "2 Accounting policiesThe principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.Basis of preparationThese consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRS Interpretations Committee interpretations (IFRIC) applicable to companies reporting under IFRS as adopted by the European Union. The consolidated financial statements also include compliance with Finnish accounting and corporate legislation. The consolidated financial statements have been prepared under the historical cost convention unless otherwise stated in the Neste\u2019s accounting policies.The consolidated financial statements are presented in million euros unless otherwise stated. The figures in the tables are subject to rounding, which may cause some rounding inaccuracies in aggregate column and row totals.Neste discloses its accounting policies in conjunction with each Note to provide enhanced understanding of each accounting area. The following symbols IS, OCI, BS, and CF are used to show which amounts in the Notes can be reconciled to consolidated statement of income (IS), consolidated statement of comprehensive income (OCI), consolidated statement of financial position (BS) or consolidated cash flow statement (CF).",
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"value": "Finland",
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"value": "Neste Corporation and its subsidiaries (together referred to as Neste) is the world\u2019s leading producer of renewable diesel and sustainable aviation fuel (SAF), with production on three continents. The company\u2019s renewables production capacity is expected to reach 6.8 million tons annually in 2027. Neste also produces high-quality oil products at its Porvoo refinery in Finland. The company has a network of nearly 1,000 fuel stations with expanding service offering, such as EV charging, in Finland and in the Baltics.Neste\u2019s refineries are located in Finland, the Netherlands and Singapore. Additionally, Neste has a joint operation together with Marathon Petroleum to produce renewable diesel in the United States.",
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"value": "These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and IFRS Interpretations Committee interpretations (IFRIC) applicable to companies reporting under IFRS as adopted by the European Union.",
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},
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"value": "New standards, significant amendments and interpretations adopted by NesteNeste applied, for the first time, certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2025. These amendments did not have a material impact on the consolidated financial statements of Neste. Neste has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.The following new standards and amendments became effective as of 1 January 2025 (unless otherwise stated):\u2022 Lack of Exchangeability \u2013 Amendments to IAS 21 The Effects of Changes in Foreign Exchange RatesNew standards, amendments and interpretations not yet adoptedCertain new interpretations, amendments to existing standards or new standards have been published. Neste intends to adopt these standards when they become effective.IFRS 18 Presentation and Disclosure in Financial Statements will be effective on financial years beginning on or after 1.1.2027. IFRS 18 will replace IAS 1 Presentation of Financial Statements and affects the way of presentation in the financial statements, but not the recognition or valuation principles. The new accounting standard introduces following key requirements:\u2022 Classifying all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. \u2022 Presentation of a newly-defined operating profit subtotal. Neste\u2019s net profit will not change.\u2022 Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements.\u2022 Using the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method.\u2022 Grouping information in the financial statements in line with enhanced guidance.Neste is still in the process of assessing the impact of the IFRS 18, particularly with respect to the structure of the Neste\u2019s consolidated statement of income and consolidated statement of cash flows and the additional disclosures required for MPMs. Neste is also assessing the impact on how information is grouped in the financial statements and presentation of items currently labelled as \u2018other\u2019.There is no other IFRS or IFRIC interpretations that are not yet effective and that would be expected to have a material impact on Neste.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__17": {
"value": "New standards, significant amendments and interpretations adopted by NesteNeste applied, for the first time, certain standards and amendments, which are effective for annual periods beginning on or after 1 January 2025. These amendments did not have a material impact on the consolidated financial statements of Neste. Neste has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.The following new standards and amendments became effective as of 1 January 2025 (unless otherwise stated):\u2022 Lack of Exchangeability \u2013 Amendments to IAS 21 The Effects of Changes in Foreign Exchange RatesNew standards, amendments and interpretations not yet adoptedCertain new interpretations, amendments to existing standards or new standards have been published. Neste intends to adopt these standards when they become effective.IFRS 18 Presentation and Disclosure in Financial Statements will be effective on financial years beginning on or after 1.1.2027. IFRS 18 will replace IAS 1 Presentation of Financial Statements and affects the way of presentation in the financial statements, but not the recognition or valuation principles. The new accounting standard introduces following key requirements:\u2022 Classifying all income and expenses into five categories in the statement of profit or loss, namely the operating, investing, financing, discontinued operations and income tax categories. \u2022 Presentation of a newly-defined operating profit subtotal. Neste\u2019s net profit will not change.\u2022 Management-defined performance measures (MPMs) are disclosed in a single note in the financial statements.\u2022 Using the operating profit subtotal as the starting point for the statement of cash flows when presenting operating cash flows under the indirect method.\u2022 Grouping information in the financial statements in line with enhanced guidance.Neste is still in the process of assessing the impact of the IFRS 18, particularly with respect to the structure of the Neste\u2019s consolidated statement of income and consolidated statement of cash flows and the additional disclosures required for MPMs. Neste is also assessing the impact on how information is grouped in the financial statements and presentation of items currently labelled as \u2018other\u2019.There is no other IFRS or IFRIC interpretations that are not yet effective and that would be expected to have a material impact on Neste.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__19-1": {
"value": "Accounting estimates and judgements The preparation of consolidated financial statements in conformity with the International Accounting Standard as adopted by EU requires Neste\u2019s management to make estimates and assumptions about the future, including climate-related risks. Furthermore, management judgement may be required in applying the accounting principles. These estimates and assumptions have an impact on the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expenses during the reporting period. These estimates, assumptions and judgements are based on management\u2019s prior experience and other factors and expectations of future events that are believed to be reasonable under the circumstances. The actual amounts may differ significantly from the estimates used in the financial statements. Neste reviews the changes in estimates, assumptions and the factors affecting them on an ongoing basis by using multiple internal and external sources of information. Possible changes in estimates and assumptions are recognized in the financial period when the estimate or assumption is changed.Further information about the most significant estimates, assumptions and judgements made in applying accounting policies are included in the following notes:\u2022 Note 5 Revenue \u2013 Recognition of biofuel credits and certain tax credits \u2022 Note 11 Income Taxes \u2013 Recognition and measurement of deferred taxes\u2022 Note 13 Goodwill and intangible assets \u2013 Assets\u2019 useful lives and impairment testing\u2022 Note 16, 17 and 21 relating to financial assets and liabilities \u2013 Valuation of certain financial assets and liabilities and impairment of financial assets\u2022 Note 18 Inventories \u2013 Valuation method and net realization value \u2022 Note 22 Provisions \u2013 Likelihood and magnitude of an outflow of resources e.g. environmental provisions\u2022 Note 23 Employee benefit obligations \u2013 Measurement of future defined benefit obligations and key actuarial assumptions\u2022 Note 29 Leases - Lease term and extension and termination optionsEstimates and judgements requiring management estimationSome of Neste\u2019s contracts may involve elements of variable considerations, such as rebates, bonuses or penalties. The variable consideration is estimated by using either the expected value or the most likely amount \u2013method, depending on the type of variable element and related contractual terms and conditions. Amount of variable consideration is included in the transaction price only to the extent that management considers it is highly probable that a significant reversal of revenue does not occur later.As CFPC is not in the scope of IFRS standards, management has developed an accounting policy to be applied. Management has decided to recognize CFPC similar to biofuel credits since management considers CFPCs also as assets created under government program to incentivize renewable fuel supply and production. Thus, Neste recognizes them upon generation and revenue is recognized when sold to third parties.Estimates and judgements requiring management estimationIncome tax liabilities and assets are recognized based on the amounts management expects to pay or recover.Neste has deferred tax assets and liabilities which are expected to be realized through the consolidated statement of income over extended periods of time in the future. Neste management has made certain assumptions regarding future tax consequences and used certain estimates when calculating differences between carrying amounts of assets and liabilities and their tax bases. Key assumptions underlying tax calculations include e.g. likelihood that recoverability periods for tax loss carryforwards will not change, and that existing tax laws and rates remain unchanged into the foreseeable future. At each balance sheet date, management uses judgment to assess the recoverability of deferred tax assets. When circumstances indicate that it is no longer estimated probable that deferred tax assets can be recovered in the foreseeable future, balances are reduced to their recoverable amounts.Estimates and judgements requiring management estimationIntangible assets as well as property, plant and equipment are always tested for impairment, when there is any indication that an asset may be impaired. When the recoverable amount of an asset is less than the carrying amount, an impairment loss is recognized as an expense immediately and the carrying amount is reduced to the asset\u2019s recoverable amount. Neste\u2019s management applies judgement in determining the depreciation methods and useful lives of assets. The useful lives are reviewed annually and when there is indication that an asset may be impaired.Management has used judgement in determining Renewables Products as one of the cash-generating units and in choosing to determine the amounts recoverable from cash-generating units\u2019 operating activities based on value in use calculations. These calculations are based on estimated future cash flows in financial plans approved by Neste\u2019s management, covering a period of six years. Preparation of these estimates requires management to make assumptions relating to future expectations. The main assumptions are considered to be the sales margin and discount rate. Expectations are based on Neste\u2019s analysis which also considers publicly available information, e.g. regulations, to estimate industry\u2019s and Neste\u2019s business growth and changes in supply, demand and pricing. The climate-related assumptions are included in the estimation of future cash flows which require making assumptions of the demand development and regulation changes affecting Renewable Products. These affect the assumptions of sales margins and nominal growth rate of the Renewable Products industry.Estimates and judgements requiring management estimationEstimates of net realizable value are based on the most reliable evidence available at the time the estimates are made. These estimates take into consideration fluctuations of price or cost directly relating to events occurring after the end of the period to the extent that such events confirm conditions existing at the end of the period. Neste considers biofuel credits as assets created under various government programs to incentivize renewable fuel supply.Estimates and judgements requiring management estimationThe recognition of a provision requires management\u2019s judgment to determine if a present obligation exists as a result of a past event and whether an outflow of resources is probable. The amount recognized represents the best estimate of the expenditure required to settle the obligation at the reporting date or to transfer it to a third party, taking into account the risks and uncertainties surrounding the obligation. These estimates are based on historical experience of similar events and, where applicable, the opinion of external experts. Estimates may differ from the actual future amount of the obligation and with respect to the existence of the obligation. In addition to the provisions recognized, there are some off-balance-sheet contingent liabilities for which the likelihood, timing and magnitude of an outflow of resources cannot be estimated reliably. The carrying amounts of provisions are reviewed regularly and adjusted when needed to consider changes in cost estimates, regulations, applied technologies and conditions.The most significant provisions in the consolidated statement of financial position relate to environmental liabilities. Environmental provisions are based on management\u2019s best estimate of remediation costs discounted to its present value where the effect of the time value of money is material. The restructuring provision is recognized when Neste has prepared a detailed restructuring plan and published it.Estimates and judgements requiring management estimationAccounting for defined benefit obligations and other long-term employee benefits requires the selection of actuarial assumptions and the use of significant estimates. Based on these, actuaries calculate Neste\u2019s expenses and liabilities. The assumptions that are the most significant to the amounts reported are the discount rate, the rate of salary increase and future benefit increase. Changes in these assumptions could result in significant changes to the carrying amount of Neste\u2019s pension liability and future pension expenses. Possible effects of the changes are presented in the sentivity analysis of significant actuarial assumptions.Estimates and judgements requiring management estimationNeste determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised.Neste has several lease contracts that include extension and termination options. Neste\u2019s management applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, Neste\u2019s management reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise or not to exercise the option to renew or to terminate.Neste\u2019s management applies judgement also for estimating the term of lease agreements in effect until further notice. The management\u2019s estimates are based on the company\u2019s strategic situation and market conditions, as well the costs that would incur if the leased asset would be replaced by another asset.",
"dimensions": {
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"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__20-1": {
"value": "Macroeconomic environmentNeste\u2019s growth and financial performance may be impacted by the general macroeconomic development and geopolitical tensions which could reduce demand and market prices. In addition, regulatory changes in the European Union or individual member state level or in the US may adversely affect Neste\u2019s Renewable Products segment. The uncertainty around trade sanctions such as tariffs in global trade continues, and they could affect economic growth, create an uneven playing field and/or hurt the demand and supply balance in markets Neste operates in. Changes in the macroeconomic environment have been taken into account by updating the interest rate, discount rate and inflation assumptions to reflect the current situation. More information can be found in the Note 3 Financial risk management, Note 13 Goodwill and intangible assets and Note 23 Employee benefit obligations.Climate-related topicsClimate change and the energy transition poses both business risks and opportunities to Neste. Neste\u2019s Sustainability statement in Review by the Board of Directors describes Neste\u2019s climate targets and the material impacts, risks and opportunities arising from climate for Neste. The increasing global pressure to mitigate climate change is a primary positive driver for Neste\u2019s business through increased support for biofuels and renewable fuels.Neste contributes to climate impact mitigation efforts by producing increasing volumes of renewable and circular products, investing in the Rotterdam refinery expansion and through its actions aiming to reduce its own carbon footprint. Furthermore, Neste\u2019s renewable and circular products enable the company\u2019s customers to reduce their greenhouse gas (GHG) emissions. Changes in regulation may influence the speed at which the demand for renewable products develops and raw materials sources are accepted. Policy and legal implications of transitioning to a low carbon economy could also introduce economic and regulatory adjustments that affect e.g. emission trading schemes, technology requirements and valuation of assets. Relevant market drivers presenting both risks and opportunities include changing stakeholder and customer attitudes, shifts in Neste\u2019s products\u2019 supply and demand and changes in raw material or utility costs and availability of renewable raw materials. More ambitious global climate targets can result in demand growth for Neste\u2019s renewable and circular solutions.The financial impacts of climate-related matters are recognized in the financial statements in accordance with the accounting policies when they realize. The climate-related matters had no material effect on Neste\u2019s consolidated financial statements in 2025. Climate-related matters are expected to have most significant impact on the following financial statement items:\u2022 Note 13 Goodwill and intangible assets: Goodwill impairment testing\u2022 Note 13 Goodwill and intangible assets and Note 22 Provisions: Emission allowances\u2022 Note 14 Property, plant and equipment: Porvoo refinery transformation and EU Taxonomy alignment\u2022 Note 18 Inventories: Inventory net realization value\u2022 Note 21 Financial liabilities: Neste Green Finance Framework\u2022 Note 24 Share-based payments: Long-term incentives 30 Disputes and potential litigationsNeste is involved in legal proceedings and disputes incidental to its business. In management\u2019s opinion, the outcome of these cases is difficult to predict but not likely to have material effect on the Neste\u2019s financial position.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__21": {
"value": "Consolidation SubsidiariesThe consolidated financial statements cover the parent company, Neste Corporation, and all those companies over which Neste has control. Neste controls an entity when Neste is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to Neste and are no longer consolidated when this control ceases. Acquired or established subsidiaries are accounted for by using the acquisition method. The consideration transferred and the identifiable assets acquired, and liabilities assumed in the acquired company are measured at their fair value on their date of acquisition. The consideration transferred includes any assets transferred by the acquirer, liabilities incurred by the acquirer to former owners of the acquiree. Any contingent consideration related to the business combination is measured at fair value on their acquisition date and it is classified as either liability or equity. Contingent consideration classified as liability is re-measured at its fair value at the end of each reporting period and the subsequent changes to fair value are recognized in profit or loss. Contingent consideration classified as equity is not subsequently re-measured. The consideration transferred does not include any transactions accounted for separately from the acquisition. Acquisition-related costs are expensed as incurred. Changes in non-controlling interest without losing control, due to changes in ownership interest of a subsidiary, are accounted for as equity transactions. Subsidiaries are treated as 100% owned subsidiaries, if Neste has an obligation to redeem the remaining non-controlling interest within an agreed period. Thus, the share of the non-controlling interest is not recognized in the statement of financial position and the non-controlling shareholders\u2019 share of the financial year\u2019s profit is included until the derecognition of the obligation. The obligation is measured at fair value and recorded as a liability in the consolidated statement of financial position. All intra-group transactions, receivables, liabilities and unrealized margins, as well as distribution of profits within Neste, are eliminated in the preparation of consolidated financial statements.The result for the period and items recognized in other comprehensive income are allocated to the equity holders of the parent company and non-controlling interests and presented in the statement of income and statement of other comprehensive income. Non-controlling interests are presented separately from the equity allocated to the equity holders of the company. Other comprehensive income is allocated to the equity holders of the parent company and to non-controlling interests even in situations where the allocation would result in the non-controlling interests\u2019 share being negative, unless non-controlling interests have a legal or contractual right to not contribute further capital to cover the deficit, which exceeds the non-controlling interests\u2019 investment in the company.Joint arrangementsA joint arrangement is an arrangement in which two or more parties have joint control, and in which the sharing of control has been contractually agreed between the parties. Joint control exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Joint arrangements are classified as either joint operations or joint ventures, depending on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. Neste has assessed the nature of its joint arrangements and determined them to be either joint ventures or joint operations. Joint operation is a joint arrangement, whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities relating to the arrangement. Joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.Neste has 50% interest in Martinez Renewables, a joint arrangement, which was established for production of renewable fuels. At the time of making the investment, Neste made the interpretation to treat the establishment and initial investment into the joint arrangement as an asset acquisition. After the initial investment, Neste classified the joint arrangement as a joint operation as Neste and Marathon Petroleum have a joint control over the arrangement\u2019s relevant activities, and the production output will be divided evenly between Neste and Marathon Petroleum. As a result of the joint operation classification, Neste recognizes its 50% share of Martinez Renewables\u2019 assets, liabilities, revenues and expenses.Joint operations are consolidated for its share of the assets, liabilities, revenues, expenses and cash flow on a line-by-line basis. Joint ventures are accounted for using the equity method. Under the equity method of accounting, interests in joint ventures are initially recognized at cost and adjusted thereafter to recognize Neste\u2019s share of the post-acquisition profits or losses and movements in other comprehensive income. When Neste\u2019s share of losses in a joint venture equals or exceeds its interests (including any long-term interests that, in substance, form part of Neste\u2019s net investment in the joint ventures), Neste does not recognize further losses, unless it has incurred obligations or made payments on behalf of the joint ventures. Unrealized gains on transactions between Neste and its joint arrangements are eliminated to the extent of Neste\u2019s interest in the joint ventures. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset being transferred. AssociatesAssociated companies are entities over which Neste has significant influence but not control, and generally involve a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for by using the equity method as described above in the \u00b4Joint arrangements\u00b4 paragraph.Structured entitiesNeste engages in business activities with structured entities which are designed to achieve a specific business purpose. A structured entity is one that has been set up so that voting rights or similar rights are not the dominant factor in deciding who controls the entity. An example is when voting rights relate only to administrative tasks and the relevant activities are directed by contractual arrangements. Structured entities are consolidated when the substance of the relationship between Neste and the structured entities indicate that the structured entities are controlled by Neste. The extent of Neste\u2019s interests in unconsolidated structured entities will vary depending on the type of structured entities. Entities are not consolidated because Neste does not control them through voting rights, contract, funding agreements, or other means.Management uses judgement when determining the accounting treatment of the structured entities. In addition to the voting rights or similar rights, the management considers other factors such as the nature of the arrangement, contractual arrangements and level of influence with the structured entities.",
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"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__22": {
"value": "SubsidiariesThe consolidated financial statements cover the parent company, Neste Corporation, and all those companies over which Neste has control. Neste controls an entity when Neste is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to Neste and are no longer consolidated when this control ceases. Acquired or established subsidiaries are accounted for by using the acquisition method. The consideration transferred and the identifiable assets acquired, and liabilities assumed in the acquired company are measured at their fair value on their date of acquisition. The consideration transferred includes any assets transferred by the acquirer, liabilities incurred by the acquirer to former owners of the acquiree. Any contingent consideration related to the business combination is measured at fair value on their acquisition date and it is classified as either liability or equity. Contingent consideration classified as liability is re-measured at its fair value at the end of each reporting period and the subsequent changes to fair value are recognized in profit or loss. Contingent consideration classified as equity is not subsequently re-measured. The consideration transferred does not include any transactions accounted for separately from the acquisition. Acquisition-related costs are expensed as incurred. Changes in non-controlling interest without losing control, due to changes in ownership interest of a subsidiary, are accounted for as equity transactions. Subsidiaries are treated as 100% owned subsidiaries, if Neste has an obligation to redeem the remaining non-controlling interest within an agreed period. Thus, the share of the non-controlling interest is not recognized in the statement of financial position and the non-controlling shareholders\u2019 share of the financial year\u2019s profit is included until the derecognition of the obligation. The obligation is measured at fair value and recorded as a liability in the consolidated statement of financial position. All intra-group transactions, receivables, liabilities and unrealized margins, as well as distribution of profits within Neste, are eliminated in the preparation of consolidated financial statements.The result for the period and items recognized in other comprehensive income are allocated to the equity holders of the parent company and non-controlling interests and presented in the statement of income and statement of other comprehensive income. Non-controlling interests are presented separately from the equity allocated to the equity holders of the company. Other comprehensive income is allocated to the equity holders of the parent company and to non-controlling interests even in situations where the allocation would result in the non-controlling interests\u2019 share being negative, unless non-controlling interests have a legal or contractual right to not contribute further capital to cover the deficit, which exceeds the non-controlling interests\u2019 investment in the company.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__23-1": {
"value": "Joint arrangementsA joint arrangement is an arrangement in which two or more parties have joint control, and in which the sharing of control has been contractually agreed between the parties. Joint control exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Joint arrangements are classified as either joint operations or joint ventures, depending on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. Neste has assessed the nature of its joint arrangements and determined them to be either joint ventures or joint operations. Joint operation is a joint arrangement, whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities relating to the arrangement. Joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.Neste has 50% interest in Martinez Renewables, a joint arrangement, which was established for production of renewable fuels. At the time of making the investment, Neste made the interpretation to treat the establishment and initial investment into the joint arrangement as an asset acquisition. After the initial investment, Neste classified the joint arrangement as a joint operation as Neste and Marathon Petroleum have a joint control over the arrangement\u2019s relevant activities, and the production output will be divided evenly between Neste and Marathon Petroleum. As a result of the joint operation classification, Neste recognizes its 50% share of Martinez Renewables\u2019 assets, liabilities, revenues and expenses.Joint operations are consolidated for its share of the assets, liabilities, revenues, expenses and cash flow on a line-by-line basis. Joint ventures are accounted for using the equity method. Under the equity method of accounting, interests in joint ventures are initially recognized at cost and adjusted thereafter to recognize Neste\u2019s share of the post-acquisition profits or losses and movements in other comprehensive income. When Neste\u2019s share of losses in a joint venture equals or exceeds its interests (including any long-term interests that, in substance, form part of Neste\u2019s net investment in the joint ventures), Neste does not recognize further losses, unless it has incurred obligations or made payments on behalf of the joint ventures. Unrealized gains on transactions between Neste and its joint arrangements are eliminated to the extent of Neste\u2019s interest in the joint ventures. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset being transferred.Country of Joint arrangements Group holding % ClassificationincorporationA/B Svarts\u00e5 Vattenverk - Mustijoen Vesilaitos O/Y 40.00% Joint operation FinlandKilpilahti Power Plant Ltd 40.00% Joint venture FinlandMartinez Renewables LLC 50.00% Joint operation USA",
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"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__24": {
"value": "AssociatesAssociated companies are entities over which Neste has significant influence but not control, and generally involve a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for by using the equity method as described above in the \u00b4Joint arrangements\u00b4 paragraph.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__25-1": {
"value": "Structured entitiesNeste engages in business activities with structured entities which are designed to achieve a specific business purpose. A structured entity is one that has been set up so that voting rights or similar rights are not the dominant factor in deciding who controls the entity. An example is when voting rights relate only to administrative tasks and the relevant activities are directed by contractual arrangements. Structured entities are consolidated when the substance of the relationship between Neste and the structured entities indicate that the structured entities are controlled by Neste. The extent of Neste\u2019s interests in unconsolidated structured entities will vary depending on the type of structured entities. Entities are not consolidated because Neste does not control them through voting rights, contract, funding agreements, or other means.Management uses judgement when determining the accounting treatment of the structured entities. In addition to the voting rights or similar rights, the management considers other factors such as the nature of the arrangement, contractual arrangements and level of influence with the structured entities.Consolidated structured entitiesSince 2014, Neste has treated the vessels\u2019 long-term agreements made with Ilmarinen Mutual Pension Insurance Company and Finland\u2019s National Emergency Supply Agency as structured entities. As a part of these arrangements, Neste guarantees the vessels\u2019 residual value and certain return on the investors\u2019 investments.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutConsolidatedStructuredEntitiesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__26": {
"value": "Foreign currency translation (a) Presentation currencyItems included in the financial statements of each of Neste\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in euros, which is the company\u2019s presentation currency. (b) Transactions in foreign currenciesForeign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognized in the income statement, except when deferred in other comprehensive income as qualifying cash flow hedges and qualifying net investment hedges.(c) Group companiesThe results and financial position of all Neste entities (none of which uses a hyperinflationary economy currency) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: \u2022 Assets and liabilities are translated at the closing rate quoted on the relevant balance sheet date; \u2022 Income and expenses are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions);\u2022 All resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of the net investment in foreign entities and currency instruments designated as hedges of such investments, are recognized in other comprehensive income and allocated to the translation differences in equity. When a foreign operation is partially disposed of, sold, or liquidated, translation differences accrued in equity are recognized in the income statement as part of the gain or loss on the sale/liquidation. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the entity in question and translated at the closing rate.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__27": {
"value": "3 Financial risk managementFinancial risk management principlesThe Neste Board of Directors has approved the Corporate risk management policy. This policy together with the related principles and instructions defines the framework for financial risk management within Neste. Mandates and limits that are applicable to financial risks have been defined in the risk management policy.For more information regarding Neste\u2019s risk management principles and key risk areas, please refer to the risk management section in the annual report.Market risksMarket risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. For Neste, the main types of market risks are commodity price risk, foreign exchange risk and interest rate risk. These are specified in more detail in the following sections. In accordance with the Corporate risk management policy, various derivative transactions are executed to mitigate exposure to risk. The positions are monitored and managed on a daily basis.1. Commodity price risksThe main commodity price risks Neste faces in its businesses are related to market prices for crude oil, renewable feedstocks, and other feedstocks, as well as refined petroleum and renewable products. These prices are subject to significant fluctuations resulting from a periodic over-supply and supply tightness in various regional markets, coupled with fluctuations in demand. Neste\u2019s operational results in any given period are principally driven by the demand for and prices of renewable and oil products relative to the supply and cost of raw materials. These factors, combined with Neste\u2019s own consumption of raw materials and output of refined products, drive operational performance and cash flows in Renewable Products and Oil Products, which are Neste\u2019s largest segments in terms of revenue, profits and net assets.Neste divides the commodity price risks affecting Neste\u2019s revenue, profits and net assets into two main categories: inventory price risk and refining margin risk. Inventory price riskFrom a price risk management perspective, Neste\u2019s refinery inventory consists of two components. The first and largest component remains relatively constant over time and is referred to as the \u2018base inventory\u2019. The second and daily fluctuating component is the amount of inventories differing from the base inventory level and at Neste it is called \u2018transaction position\u2019.The base inventory is the minimum level that can reasonably assure the continuous operation of the refineries and prevent deliveries from being compromised. It comprises inventories at the refineries and within the supply chain. The base inventory includes the minimum level of stocks that Neste is required to maintain under Finnish laws and regulations.The base inventory creates a risk in Neste\u2019s consolidated statement of income and consolidated statement of financial position since Neste applies the weighted average method for measuring the cost of goods sold, raw materials and inventories. Hedging operations related to price risk do not target the base inventory. Instead, Neste\u2019s inventory risk management policies target the \u2018transaction position\u2019 to the extent that these stocks create cash flow risks depending on the relationships between feedstock purchases, refinery production and refined petroleum product sales over any given period. According to the Neste\u2019s risk management policy, open exposures of the transaction position are hedged without delay when the underlying pricing-in or pricing-out occurs if existing hedging instruments provide appropriate hedging efficiency. In hedging the transaction position, derivative financial instruments are used. Because of the differences between the quality of the underlying feedstocks or end products for which derivative financial instruments can be sold and purchased and the actual quality of Neste\u2019s feedstocks and end products, the business will remain exposed to some degree of basis risk. Basis risk is typically higher in the Renewables business compared to the fossil fuel refining due to the nature of the feedstock pool and limited availability of hedging instruments.If crude oil feedstock or oil product markets are in contango where current forward prices are higher than current spot prices, Neste has the capability to build physical contango storages from time to time. These storages are excluded from the transaction position and are hedged separately.Refining margin riskNeste is exposed to a greater margin volatility in the Renewable Products segment compared to that of fossil fuel refining. In the Renewables business, the refining margin is mainly an outcome of the renewable product sale price received, and the cost of feedstocks used. The underlying price quotations used in renewable diesel pricing are primarily related to oil products. Premiums over pricing indices fluctuate regionally depending on the nature of bio mandates and incentives, local supply and demand, and fossil fuel prices. In North America, Soy Methyl Ester (SME) is an important price driver through its link to Renewable Identification Number (RIN) prices. The cost of feedstocks depends on feedstock selection and is typically derived from different vegetable oils and fats. Feedstock prices are mainly driven by supply and demand balances, crop forecasts and regional weather. In Renewable Products segment, operational activities and margin hedges are the primary means of mitigating margin volatility.Refining margin is an important determinant of Oil Products segment\u2019s earnings. Its fluctuations constitute a significant risk. The refining margin risk is a result of the revenue from sold petroleum products and the cost of raw materials together with other costs. Neste\u2019s exposure to low refining margins in traditional oil refining is partly offset by its high-conversion refinery capacity.With the aim of securing its margin and cash flow, Neste has defined margin hedging principles for its main refining businesses. In the Renewable Products segment, the targeted hedge ratios are typically higher and can be expected to fluctuate over time. In the fossil fuel business, the hedge ratios are typically moderate. Both Oil Products and Renewable Products segments\u2019 margins are also exposed to utility price risk that mainly arises from consumption of electricity and natural gas. Neste has also defined principles for hedging these exposures. In hedging the refining margin and utility price risks, commodity derivatives are used. Just as in transaction position hedging, also when hedging the refining margin and utility risks, the business will remain exposed to a certain degree of basis risk that comes from the differences between actual qualities of feedstocks and products and qualities of available hedging arrangements. The exposure to open positions of commodity derivative contracts is summarized in Note 19 Derivative financial instruments. Neste does not apply IFRS hedge accounting for commodity hedging positions. 2. Foreign exchange risk As the underlying currency of Neste\u2019s main markets is the U.S. Dollar, and Neste operates and reports in Euro, this exposes Neste\u2019s business to currency risk. The objective of foreign exchange risk management in Neste is to limit the uncertainty created by changes in foreign exchange rates on the future value of cash flows and earnings, and in the balance sheet. Generally, foreign exchange risk can be managed by hedging currency risks in contracted and forecast cash flows and balance sheet exposures (referred to as transaction exposure) as well as the equity of non-euro-based subsidiaries (referred to as translation exposure). Transaction exposureIn general, all reporting segments hedge their transaction exposure related to highly probable future cash flows. Net foreign currency cash flows are forecasted over a 12-month period on a rolling basis and hedged on average 70% for the first six months and 30% of the next six months for the Renewable business and on average 80% for the first six months and 40% for the following six months for the fossil fuel business. Deviations from the benchmark hedging ratio are allowed in line with the limits set by the Corporate risk management policy. The most important hedged currency is the U.S. dollar. Other currencies to which Neste is exposed to are the Swedish crown (SEK), the Chinese renminbi (CNY), the Singapore dollar (SGD) and the Australian dollar (AUD). Neste\u2019s net exposure is managed through the use of forward contracts and options. All transactions are made for hedging purposes, and the majority also qualifies for hedge accounting under IFRS. The reporting segments are responsible for forecasting net foreign currency cash flows, while Group Treasury & Risk Management is responsible for implementing hedging transactions. In addition to the above-mentioned foreign currency hedging programs, Neste has continued to hedge material currency exposures related to investments. Neste has several currency-denominated assets and liabilities in its balance sheet, such as foreign currency loans, deposits, net working capital and cash in other currencies than home currency. The principle is to hedge this balance sheet exposure fully using forward contracts. Similarly to commodity price risk management, the foreign exchange transaction hedging targets inventories in excess of the base inventory. Open exposures are allowed based on risk limits set by the Corporate risk management policy. The largest and most volatile item in terms of balance sheet exposure is net working capital. Since many of the Neste\u2019s business transactions, sales of products and services and purchases of crude oil and other feedstock are linked to the U.S. dollar, the daily exposure of net working capital is hedged as part of the balance sheet hedge in order to neutralize the effect of volatility in EUR/USD exchange rate. During 2025, the daily balance sheet exposure fluctuated between approximately USD 92 million and 1,334 million (2024: USD 830 million and 2,083 million).USD transaction exposure under hedge accountingUSD million 31 Dec 2025 31 Dec 2024Net exposure, 12 months 3,507 3,686Hedging, 12 months (forward) 1,922 1,874Average rate of hedging 1.163 1.098Group Treasury & Risk Management is responsible for consolidating various balance sheet items and carrying out hedging transactions. The exposure to open positions of foreign exchange derivative contracts is summarized in Note 19 Derivative financial instruments.Translation exposureGroup Treasury & Risk Management is responsible for managing Neste\u2019s translation exposure. This consists of net investments in foreign subsidiaries associates and joint arrangements. Although the main principle is to leave translation exposure unhedged, Neste may seek to reduce the volatility in equity in the consolidated balance sheet through hedging transactions. Any hedging decisions are made by Group Treasury & Risk Management. At the end of 2025, the most important translation exposures were: U.S. dollar EUR 2,784 million and Swedish Crown EUR 105 million (2024: U.S dollar EUR 2,963 million, Swedish Crown EUR 92 million). Neste has not hedged the exposures in 2025 or 2024.3. Interest rate riskNeste is exposed to interest rate risk mainly through its interest-bearing net debt. The objective of the interest rate risk management is to limit the volatility of interest expenses in the income statement. The benchmark duration for the debt portfolio is 12 months, and the duration can vary between six and 96 months. As of 31 December 2025, the duration was 29 months (2024: 27 months). In addition to duration, Neste has defined a limitation for interest flow risk.Interest rate derivatives are used to adjust the duration of the debt portfolio. Neste\u2019s interest rate risk management is handled by Group Treasury & Risk Management. The nominal and fair values of the outstanding interest rate derivative contracts as of 31 December 2025 (2024) are summarized in Note 19. The re-pricing period of interest-bearing liabilities occurs Within 1 year\u2013 20251 year5 years > 5 years TotalFinancial instruments with floating interest rateLoans from financial institutions 1,411 0 0 1,411Other loans 1 0 0 1Effect of interest rate swaps 250 0 0 250Financial instruments with fixed interest rateBonds 0 1,691 1,105 2,796Commercial paper liabilities 0 0 0 0Lease liabilities 205 373 367 945Other loans 0 30 0 30Effect of interest rate swaps 0 300 -550 -2501,867 2,394 922 5,183The re-pricing period of interest-bearing liabilities occurs Within 1 year\u2013 20241 year5 years > 5 years TotalFinancial instruments with floating interest rateLoans from financial institutions 1,580 0 0 1,580Other loans 1 0 0 1Effect of interest rate swaps 250 0 0 250Financial instruments with fixed interest rateBonds 0 994 1,121 2,115Commercial paper liabilities 307 0 0 307Lease liabilities 224 420 470 1,114Other loans 0 30 0 30Effect of interest rate swaps 0 100 -350 -2502,363 1,544 1,240 5,1474. Key sensitivities to market risksSensitivity of operating profit to market risks arising from the Group\u2019s operationsDue to the nature of its operations, Neste\u2019s financial performance is sensitive to the market risks described above. The following table details the approximate impact that movements in the Neste\u2019s key price and currency exposures would have on its operating profit for 2026 (2025), assuming normal market and operating conditions and with following assumptions on sensitivities:\u2022 Hedging transactions are excluded.\u2022 The sensitivity of each factor in the table is individual, assuming other factors to remain constant, i.e., the ceteris paribus principle.\u2022 The sensitivity in the EUR/USD exchange rate is based on exposure forecast.\u2022 The sensitivity in the Oil Product total refining margin is based on forecast volumes, representing an impact from change of 1 USD/barrel. \u2022 The sensitivity in the Oil Products crude oil price is based on impacts through inventory valuation gains / losses and changes in utility and freight costs.\u2022 The sensitivity in the Renewable Products refining margin is based on nameplate capacity at end of 2025, representing an impact from a change of 50 USD/ton.Approximate impact on operating profit, excluding hedges 2026 2025+/- 10% in the EUR/USD exchange rate EUR million -271/+332 -323/+394+/- USD 1.00/barrel in Oil Products total refining margin USD million +/-85 +/-85 1)+/- USD 10/barrel in crude oil price for Oil ProductsUSD million +/-115 +/-1152)+/- USD 50/t in Renewable Products refining margin USD million +/-280 +/-2801) Inventory valuation gains/losses excluded from comparable EBITDA2) Based on nameplate capacitySensitivity to market risks arising from financial instruments as required by IFRS 7 Financial Instruments: DisclosuresThe following analysis, required by IFRS 7, is intended to illustrate the sensitivity of Neste\u2019s profit for the period and equity to changes in oil prices, the EUR/USD exchange rate, and interest rates, resulting from financial instruments, such as financial assets and liabilities and derivative financial instruments, as defined by IFRS, included in the balance sheet as of 31 December 2025 (2024). Financial instruments affected by the above market risks include net working capital items, such as trade and other receivables and trade and other payables, interest-bearing liabilities, deposits, liquid funds, and derivative financial instruments. When cash flow hedge accounting is applied, the change in the fair value of derivative financial instruments is assumed to be recorded fully in equity.The following assumptions were made when calculating the sensitivity to the change in oil prices:\u2022 The price variation for oil derivative contracts of crude oil, refined oil products and vegetable oil is assumed to be +/- 20%.\u2022 The sensitivity related to oil derivative contracts held for hedging refinery oil inventory position is included; the underlying physical oil inventory position is excluded from the calculation, since inventory is not a financial instrument.\u2022 The sensitivity related to oil derivative contracts held for hedging expected future refining margin is included; the underlying expected refining margin position is excluded from the calculation.The following assumptions were made when calculating the sensitivity to changes in the EUR/USD exchange rate:\u2022 The variation in the EUR/USD-rate is assumed to be +/- 10%.\u2022 The position includes USD-denominated financial assets and liabilities, such as interest-bearing liabilities, deposits, trade andother receivables, trade and other payables, and liquid funds, as well as derivative financial instruments.\u2022 The position excludes USD-denominated future cash flows.The following assumptions were applied when calculating the sensitivity to changes in interest rates:\u2022 The variation of interest rate is assumed to be a 1 percentage point parallel shift in the interest rate curve.\u2022 The interest rate risk position includes interest-bearing liabilities (excluding leases), interest-bearing receivables, and interestrate swaps, however liquid funds are excluded.\u2022 The income statement is affected by changes in the interest rates of floating-rate financial instruments except derivativefinancial instruments that are designated as and qualifying for cash flow hedges, which are recorded directly in equity.The sensitivity analysis presented in the following table may not be representative, since Neste\u2019s exposure to market risks also arises from balance sheet items other than financial instruments, such as inventories. As the sensitivity analysis does not take into account future cash flows, which Neste hedges in significant volumes, it only reflects the change in fair value of hedging instruments. In addition, the size of the exposure sensitive to changes in the EUR/USD exchange rate varies significantly, so the position on the balance sheet date may not be representative for the financial period on average. Equity in the following table includes items which are recorded directly in equity. Items affecting the consolidated statement of income are not included in equity.2025 2024Sensitivity to market risk arising from Income Income financial instruments as required by IFRS 7statement Equitystatement Equity1)+/- 20% change in oil price EUR million +/-91 +/-0 +/-25 +/-0+/- 10% change in EUR/USD exchange rate EUR million +103/-125 +118/-145 +114/-139 +143/-143+/- 1% parallel shift in interest rates EUR million -/+11 +/-1 -/+14 +/-11)Includes crude oil, refined oil products and vegetable oil derivativesLiquidity and refinancing risksLiquidity risk is defined as financial distress or extraordinarily high financing costs due to a shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and require financing. The objective of liquidity risk management is to maintain sufficient liquidity at all times to prevent financial distress. Neste\u2019s principal source of liquidity is expected to be cash generated from operations. In addition, Neste seeks to reduce liquidity and refinancing risks by maintaining a diversified maturity profile in its loan portfolio. Certain other limits have also been set to minimize liquidity and refinancing risks. The amount of short-term financing is limited to the greater of the following: EUR 500 million or 30% of total interest-bearing liabilities. Unused committed credit facilities together with cash must always be at a minimum EUR 700 million and sufficient to cover all forecasted negative free cash flows and interest-bearing liabilities maturing within the next 12-month period.The average loan maturity as of 31 December 2025 was 3.9 years (2024: 4.1 years). The most important financing programs in place are committed revolving multicurrency credit agreement of EUR 1,300 million, other committed revolving credit agreements totaling EUR 750 million, overdraft facilities totaling EUR 150 million and uncommitted domestic commercial paper program of EUR 400 million. The EUR 1,300 million revolving multicurrency credit agreement signed in 2025 for general corporate purposes will expire in April, 2030. Other committed revolving credit agreements, totaling EUR 750 million, will expire during years 2027\u20132028.Liquid funds and committed unutilized credit facilities 31 Dec 2025 31 Dec 2024Liquid funds 1,367 955Overdraft and revolving credit facilities, expiring within one year 150 242Revolving credit facility, expiring beyond one year 2,050 1,683Total 3,567 2,880In addition: unused commercial paper program (uncommitted) 400 89Maturity profile of financial liabilities based on contractual payments 31 Dec 2025 2026 2027 2028 2029 2030 2031- TotalTrade payables and other liabilities 2,287 1 17 1 1 12 2,319Interest-bearing liabilities 1)Bonds0 0 500 500 700 1,100 2,800Loans from financial institutions 265 248 500 200 200 0 1,413 2)Lease liabilities205 133 108 83 49 367 945Commercial papers 0 0 0 0 0 0 0Other loans 1 0 0 30 0 0 31Interest of lease liabilities 48 40 34 29 26 197 374Interest of other liabilities 120 116 100 84 81 135 636Total 2,926 538 1,259 927 1,056 1,812 8,518Commodity derivatives 106 3 108Interest rate swaps 1 1 0 0 0 0 2Gross settled forward foreign exchange contracts- inflow (-) -2,038 -2,038- outflow 2,062 2,062Derivatives total 130 3 0 0 0 0 1341) 2) Refer to Note 21 Financial liabilities for further information Refer to Note 29 Leases for further informationMaturity profile of financial liabilities based on contractual payments 31 Dec 2024 2025 2026 2027 2028 2029 2030\u2013 TotalTrade payables and other liabilities 2,092 1 1 15 1 13 2,124Interest-bearing liabilities 1)Bonds0 0 0 500 500 1,100 2,100Loans from financial institutions 253 156 773 0 200 200 1,582 2)Lease liabilities224 160 107 85 68 470 1,114Commercial papers 307 0 0 0 0 0 307Other loans 1 0 0 0 30 0 31Interest of lease liabilities 54 46 40 35 31 323 528Interest of other liabilities 120 116 100 84 81 135 636Total 3,052 479 1,021 719 910 2,241 8,423Commodity derivatives 83 2 0 0 0 0 84Interest rate swaps 0 2 1 1 1 0 6Gross settled forward foreign exchange contracts- inflow (-) -3,636 0 0 0 0 0 -3,636- outflow 3,783 0 0 0 0 0 3,783Derivatives total 230 4 1 1 1 0 2371) 2) Refer to Note 21 Financial liabilities for further information Refer to Note 29 Leases for further informationAs described in Note 21, Neste also participates in supplier finance arrangements with the principal purpose of facilitating efficient payment processing of supplier invoices. Under the arrangements the supplier may elect to receive early payment from the financial institution by selling its receivables from Neste. On average, the payment terms for invoices relating to participating suppliers are extended by 60 days compared to the normal terms agreed with other suppliers individually.Neste maintains sufficient cash and unused committed credit facilities to reduce the refinancing risk in relation to the supplier finance arrangement. Credit and counterparty riskCounterparty risk arises from all business relationships, where Neste is exposed to the counterparty\u2019s failure to perform according to Neste\u2019s requirements and contractual commitments. The risk arises especially from sales, supply, hedging and trading transactions as well as from cash investments. Risk magnitude depends on the size of the business exposure and creditworthiness of the counterparty. The objective of counterparty and credit risk management is to prevent and minimize the losses incurred as a result of a counterparty not fulfilling its obligations. Limits, mandates and management principles for counterparty and credit risk are covered in the Corporate risk management policy and separate principle and instruction-level documents. Credit risk limits are set at the Group level, designated by different levels of authorization and delegated to Neste\u2019s reporting segments, which are responsible for counterparty risk management within these limits. When determining the credit lines for sales contracts, counterparties are screened and evaluated vis-\u00e0-vis their creditworthiness to decide whether an open credit line is acceptable or collateral, for example, a letter of credit, bank guarantee or parent company guarantee has to be posted. In the event that collateral is required credit risk is evaluated based on a financial evaluation of the party posting the collateral. If appropriate in terms of the potential credit risk associated with a specific customer, advance payment is required before delivery of products or services. In addition, Neste may reduce its counterparty risks by selling trade receivables to a third party, e.g. a bank. Neste risk management policy divides credit lines for counterparties into following categories according to contract type: physical sales transactions, derivative transactions and financial transactions. In each of the categories counterparty credit limits and decision making mandates are determined separately for counterparties rated by general rating agencies and unrated counterparties. For OTC (over-the-counter) derivative financial instrument contracts, Neste has negotiated framework agreements in the form of the ISDA (International Swaps and Derivatives Association) master agreement with the main counterparties concerning commodity, emission allowance, currency and interest rate derivative financial instruments. These contracts permit netting and allow for termination of the contract on the occurrence of certain events of defaults and termination events. Some of these agreements include Credit Support Annexes (CSA) with the aim of reducing credit and counterparty risk by requiring margin call deposits in the form of cash or letter of credit for balances exceeding the mutually agreed limit. At the end of December 2025, Neste had received EUR 1 million in cash collateral (2024: EUR 1 million) and EUR 0 million letter of credit (2024: EUR 0 million) due to CSA agreements. Neste had issued EUR 5 million in cash collateral (2024: EUR 21 million) and EUR 0 million letter of credit (2024: EUR 0 million) due to CSA agreements.31 Dec 2025 31 Dec 2024Financial assets Financial liabilities Financial assets Financial liabilitiesFinancial impact of netting for instruments subject to an enforceable master netting agreement (or similar)Derivatives Trade receivables Derivatives Trade payables Derivatives Trade receivables Derivatives Trade payablesGross amount of recognized financial instruments 119 0 134 13 145 18 238 3Related liabilities or assets subject to master netting agreements 89 0 89 0 128 0 128 0CSA agreements 1 0 5 0 1 0 21 0Net exposure 29 0 40 13 16 18 89 3Neste subsidiaries are required to deposit their excess cash balances with the Group Treasury on an ongoing basis in order to provide sufficient visibility and management of Neste\u2019s cash balance and risks associated with it. As for counterparty risk management, the minimum credit rating requirement for companies providing insurance for Neste Group is defined in the insurance principles.Neste has a large number of different international counterparties. As to the range of counterparties, the most significant types are primarily large international oil companies and financial institutions. Neste\u2019s exposure to unexpected credit losses within one reporting segment may increase with the concentration of credit risk through a number of counterparties operating in the same industry sector or geographical area, which may be adversely affected by changes in economic, political or other conditions. These risks are reduced by taking concentration risks into consideration in credit decisions.Counterparties to contracts comprising derivative financial instruments exposure on 31 December 2025: over 85% of the counterparties or their parent companies related to commodity derivative contracts have investment-grade rating from an established international credit rating agency. Respectively, Group Treasury & Risk Management had an exposure for currency and interest rate derivative contracts as of 31 December 2025 with banks, of which all have investment-grade rating at a minimum. Commodity derivative transactions are also done through exchanges.Neste assesses expected credit losses and calculates impairment loss from trade receivables based on historical credit loss experience combined with current conditions and forward-looking macroeconomic analysis. Analysis is conducted utilizing industry outlook and economic forecasts from various data sources. Neste has chosen a cautious expected credit loss calculation as indicated by the low level of actual historical credit losses compared to the expected credit loss provision. The receivables have been divided in aging buckets and segments depending on business area and geographic region, in addition to which they are assessed case by case. Impairment loss from trade receivables for the period is EUR 38 million (2024: EUR 14 million). Analysis of trade receivables by age 31 Dec 2025 31 Dec 2024not past due 968 1,1001\u201330 days overdue 74 11131\u201360 days overdue 5 761\u201390 days overdue 7 1191\u2013180 days overdue 27 4 1)more than 180 days overdue46 85Trade receivables \u2013 Net 1,128 1,3191) Blender\u2019s Tax Credit receivables from the US tax authorities on 31 December 2025 were EUR 49 million (2024: EUR 200 million), of which EUR 41 million (2024: EUR 76 million) was more than 180 days overdue.Trade receivables and contract assets are written off when there is no reasonable expectation of recovery. Indications that there is no reasonable expectation of recovery may be, e.g. a debtor failing to engage in a repayment plan with the company, or a debtor failing to make contractual payments more than 180 days past due. However, the write-offs are interpreted case by case and thus if there is a high probability that the receivable will still be paid, no write-off is made. For all bankruptcies and debt restructurings, Neste makes an immediate write-off. Where trade receivables or contract assets have been written off, the company continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized in profit or loss as a reversal of the write-off.Capital risk management Neste\u2019s objective when managing capital is to secure a capital structure that ensures access to capital markets at all times despite the business cycle of the industry in which Neste operates. Neste seeks to maintain a capital structure consistent with an investment-grade rating. The capital structure of Neste is reviewed by the Board of Directors on a regular basis.Neste monitors its capital on the basis of leverage ratio, the ratio of interest-bearing net debt to interest-bearing net debt plus total equity. Interest-bearing net debt is calculated as interest-bearing liabilities less liquid funds. Over the cycle, Neste\u2019s leverage ratio is likely to fluctuate, and it is Neste\u2019s objective to maintain the leverage ratio below 40%. The leverage ratio 31 Dec 2025 31 Dec 2024Total interest-bearing liabilities 5,183 5,147Liquid funds 1,367 955Interest-bearing net debt 3,817 4,192Total equity 7,314 7,417Interest-bearing net debt and total equity 11,130 11,609Leverage ratio 34.3% 36.1%Reconciliation of interest-bearing net debt Cash and cash equivalents Liquid investments Lease liabilities Borrowings TotalNet debt as of 1 January 2025 -955 0 1,114 4,034 4,192Cash flows -447 0 -275 80 -642New lease liabilities 0 0 254 0 254Acquisitions and disposals 0 0 0 0 0Foreign exchange differences 35 0 -75 -20 -60Other non-cash movements 0 0 -72 144 72Net debt as of 31 December 2025 -1,367 0 945 4,238 3,817Reconciliation of interest-bearing net debt Cash and cash equivalents Liquid investments Lease liabilities Borrowings TotalNet debt as of 1 January 2024 -1,575 -5 967 3,101 2,488Cash flows 655 5 -278 943 1,325New lease liabilities 0 0 420 0 420Acquisitions and disposals 0 0 0 0 0Foreign exchange differences -36 0 11 -10 -35Other non-cash movements 0 0 -6 0 -6Net debt as of 31 December 2024 -955 0 1,114 4,034 4,192",
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"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
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"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"value": "Market risksMarket risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of a business. For Neste, the main types of market risks are commodity price risk, foreign exchange risk and interest rate risk. These are specified in more detail in the following sections. In accordance with the Corporate risk management policy, various derivative transactions are executed to mitigate exposure to risk. The positions are monitored and managed on a daily basis.1. Commodity price risksThe main commodity price risks Neste faces in its businesses are related to market prices for crude oil, renewable feedstocks, and other feedstocks, as well as refined petroleum and renewable products. These prices are subject to significant fluctuations resulting from a periodic over-supply and supply tightness in various regional markets, coupled with fluctuations in demand. Neste\u2019s operational results in any given period are principally driven by the demand for and prices of renewable and oil products relative to the supply and cost of raw materials. These factors, combined with Neste\u2019s own consumption of raw materials and output of refined products, drive operational performance and cash flows in Renewable Products and Oil Products, which are Neste\u2019s largest segments in terms of revenue, profits and net assets.Neste divides the commodity price risks affecting Neste\u2019s revenue, profits and net assets into two main categories: inventory price risk and refining margin risk. Inventory price riskFrom a price risk management perspective, Neste\u2019s refinery inventory consists of two components. The first and largest component remains relatively constant over time and is referred to as the \u2018base inventory\u2019. The second and daily fluctuating component is the amount of inventories differing from the base inventory level and at Neste it is called \u2018transaction position\u2019.The base inventory is the minimum level that can reasonably assure the continuous operation of the refineries and prevent deliveries from being compromised. It comprises inventories at the refineries and within the supply chain. The base inventory includes the minimum level of stocks that Neste is required to maintain under Finnish laws and regulations.The base inventory creates a risk in Neste\u2019s consolidated statement of income and consolidated statement of financial position since Neste applies the weighted average method for measuring the cost of goods sold, raw materials and inventories. Hedging operations related to price risk do not target the base inventory. Instead, Neste\u2019s inventory risk management policies target the \u2018transaction position\u2019 to the extent that these stocks create cash flow risks depending on the relationships between feedstock purchases, refinery production and refined petroleum product sales over any given period. According to the Neste\u2019s risk management policy, open exposures of the transaction position are hedged without delay when the underlying pricing-in or pricing-out occurs if existing hedging instruments provide appropriate hedging efficiency. In hedging the transaction position, derivative financial instruments are used. Because of the differences between the quality of the underlying feedstocks or end products for which derivative financial instruments can be sold and purchased and the actual quality of Neste\u2019s feedstocks and end products, the business will remain exposed to some degree of basis risk. Basis risk is typically higher in the Renewables business compared to the fossil fuel refining due to the nature of the feedstock pool and limited availability of hedging instruments.If crude oil feedstock or oil product markets are in contango where current forward prices are higher than current spot prices, Neste has the capability to build physical contango storages from time to time. These storages are excluded from the transaction position and are hedged separately.Refining margin riskNeste is exposed to a greater margin volatility in the Renewable Products segment compared to that of fossil fuel refining. In the Renewables business, the refining margin is mainly an outcome of the renewable product sale price received, and the cost of feedstocks used. The underlying price quotations used in renewable diesel pricing are primarily related to oil products. Premiums over pricing indices fluctuate regionally depending on the nature of bio mandates and incentives, local supply and demand, and fossil fuel prices. In North America, Soy Methyl Ester (SME) is an important price driver through its link to Renewable Identification Number (RIN) prices. The cost of feedstocks depends on feedstock selection and is typically derived from different vegetable oils and fats. Feedstock prices are mainly driven by supply and demand balances, crop forecasts and regional weather. In Renewable Products segment, operational activities and margin hedges are the primary means of mitigating margin volatility.Refining margin is an important determinant of Oil Products segment\u2019s earnings. Its fluctuations constitute a significant risk. The refining margin risk is a result of the revenue from sold petroleum products and the cost of raw materials together with other costs. Neste\u2019s exposure to low refining margins in traditional oil refining is partly offset by its high-conversion refinery capacity.With the aim of securing its margin and cash flow, Neste has defined margin hedging principles for its main refining businesses. In the Renewable Products segment, the targeted hedge ratios are typically higher and can be expected to fluctuate over time. In the fossil fuel business, the hedge ratios are typically moderate. Both Oil Products and Renewable Products segments\u2019 margins are also exposed to utility price risk that mainly arises from consumption of electricity and natural gas. Neste has also defined principles for hedging these exposures. In hedging the refining margin and utility price risks, commodity derivatives are used. Just as in transaction position hedging, also when hedging the refining margin and utility risks, the business will remain exposed to a certain degree of basis risk that comes from the differences between actual qualities of feedstocks and products and qualities of available hedging arrangements. The exposure to open positions of commodity derivative contracts is summarized in Note 19 Derivative financial instruments. Neste does not apply IFRS hedge accounting for commodity hedging positions. 2. Foreign exchange risk As the underlying currency of Neste\u2019s main markets is the U.S. Dollar, and Neste operates and reports in Euro, this exposes Neste\u2019s business to currency risk. The objective of foreign exchange risk management in Neste is to limit the uncertainty created by changes in foreign exchange rates on the future value of cash flows and earnings, and in the balance sheet. Generally, foreign exchange risk can be managed by hedging currency risks in contracted and forecast cash flows and balance sheet exposures (referred to as transaction exposure) as well as the equity of non-euro-based subsidiaries (referred to as translation exposure). Transaction exposureIn general, all reporting segments hedge their transaction exposure related to highly probable future cash flows. Net foreign currency cash flows are forecasted over a 12-month period on a rolling basis and hedged on average 70% for the first six months and 30% of the next six months for the Renewable business and on average 80% for the first six months and 40% for the following six months for the fossil fuel business. Deviations from the benchmark hedging ratio are allowed in line with the limits set by the Corporate risk management policy. The most important hedged currency is the U.S. dollar. Other currencies to which Neste is exposed to are the Swedish crown (SEK), the Chinese renminbi (CNY), the Singapore dollar (SGD) and the Australian dollar (AUD). Neste\u2019s net exposure is managed through the use of forward contracts and options. All transactions are made for hedging purposes, and the majority also qualifies for hedge accounting under IFRS. The reporting segments are responsible for forecasting net foreign currency cash flows, while Group Treasury & Risk Management is responsible for implementing hedging transactions. In addition to the above-mentioned foreign currency hedging programs, Neste has continued to hedge material currency exposures related to investments. Neste has several currency-denominated assets and liabilities in its balance sheet, such as foreign currency loans, deposits, net working capital and cash in other currencies than home currency. The principle is to hedge this balance sheet exposure fully using forward contracts. Similarly to commodity price risk management, the foreign exchange transaction hedging targets inventories in excess of the base inventory. Open exposures are allowed based on risk limits set by the Corporate risk management policy. The largest and most volatile item in terms of balance sheet exposure is net working capital. Since many of the Neste\u2019s business transactions, sales of products and services and purchases of crude oil and other feedstock are linked to the U.S. dollar, the daily exposure of net working capital is hedged as part of the balance sheet hedge in order to neutralize the effect of volatility in EUR/USD exchange rate. During 2025, the daily balance sheet exposure fluctuated between approximately USD 92 million and 1,334 million (2024: USD 830 million and 2,083 million).USD transaction exposure under hedge accountingUSD million 31 Dec 2025 31 Dec 2024Net exposure, 12 months 3,507 3,686Hedging, 12 months (forward) 1,922 1,874Average rate of hedging 1.163 1.098Group Treasury & Risk Management is responsible for consolidating various balance sheet items and carrying out hedging transactions. The exposure to open positions of foreign exchange derivative contracts is summarized in Note 19 Derivative financial instruments.Translation exposureGroup Treasury & Risk Management is responsible for managing Neste\u2019s translation exposure. This consists of net investments in foreign subsidiaries associates and joint arrangements. Although the main principle is to leave translation exposure unhedged, Neste may seek to reduce the volatility in equity in the consolidated balance sheet through hedging transactions. Any hedging decisions are made by Group Treasury & Risk Management. At the end of 2025, the most important translation exposures were: U.S. dollar EUR 2,784 million and Swedish Crown EUR 105 million (2024: U.S dollar EUR 2,963 million, Swedish Crown EUR 92 million). Neste has not hedged the exposures in 2025 or 2024.3. Interest rate riskNeste is exposed to interest rate risk mainly through its interest-bearing net debt. The objective of the interest rate risk management is to limit the volatility of interest expenses in the income statement. The benchmark duration for the debt portfolio is 12 months, and the duration can vary between six and 96 months. As of 31 December 2025, the duration was 29 months (2024: 27 months). In addition to duration, Neste has defined a limitation for interest flow risk.Interest rate derivatives are used to adjust the duration of the debt portfolio. Neste\u2019s interest rate risk management is handled by Group Treasury & Risk Management. The nominal and fair values of the outstanding interest rate derivative contracts as of 31 December 2025 (2024) are summarized in Note 19. The re-pricing period of interest-bearing liabilities occurs Within 1 year\u2013 20251 year5 years > 5 years TotalFinancial instruments with floating interest rateLoans from financial institutions 1,411 0 0 1,411Other loans 1 0 0 1Effect of interest rate swaps 250 0 0 250Financial instruments with fixed interest rateBonds 0 1,691 1,105 2,796Commercial paper liabilities 0 0 0 0Lease liabilities 205 373 367 945Other loans 0 30 0 30Effect of interest rate swaps 0 300 -550 -2501,867 2,394 922 5,183The re-pricing period of interest-bearing liabilities occurs Within 1 year\u2013 20241 year5 years > 5 years TotalFinancial instruments with floating interest rateLoans from financial institutions 1,580 0 0 1,580Other loans 1 0 0 1Effect of interest rate swaps 250 0 0 250Financial instruments with fixed interest rateBonds 0 994 1,121 2,115Commercial paper liabilities 307 0 0 307Lease liabilities 224 420 470 1,114Other loans 0 30 0 30Effect of interest rate swaps 0 100 -350 -2502,363 1,544 1,240 5,1474. Key sensitivities to market risksSensitivity of operating profit to market risks arising from the Group\u2019s operationsDue to the nature of its operations, Neste\u2019s financial performance is sensitive to the market risks described above. The following table details the approximate impact that movements in the Neste\u2019s key price and currency exposures would have on its operating profit for 2026 (2025), assuming normal market and operating conditions and with following assumptions on sensitivities:\u2022 Hedging transactions are excluded.\u2022 The sensitivity of each factor in the table is individual, assuming other factors to remain constant, i.e., the ceteris paribus principle.\u2022 The sensitivity in the EUR/USD exchange rate is based on exposure forecast.\u2022 The sensitivity in the Oil Product total refining margin is based on forecast volumes, representing an impact from change of 1 USD/barrel. \u2022 The sensitivity in the Oil Products crude oil price is based on impacts through inventory valuation gains / losses and changes in utility and freight costs.\u2022 The sensitivity in the Renewable Products refining margin is based on nameplate capacity at end of 2025, representing an impact from a change of 50 USD/ton.Approximate impact on operating profit, excluding hedges 2026 2025+/- 10% in the EUR/USD exchange rate EUR million -271/+332 -323/+394+/- USD 1.00/barrel in Oil Products total refining margin USD million +/-85 +/-85 1)+/- USD 10/barrel in crude oil price for Oil ProductsUSD million +/-115 +/-1152)+/- USD 50/t in Renewable Products refining margin USD million +/-280 +/-2801) Inventory valuation gains/losses excluded from comparable EBITDA2) Based on nameplate capacitySensitivity to market risks arising from financial instruments as required by IFRS 7 Financial Instruments: DisclosuresThe following analysis, required by IFRS 7, is intended to illustrate the sensitivity of Neste\u2019s profit for the period and equity to changes in oil prices, the EUR/USD exchange rate, and interest rates, resulting from financial instruments, such as financial assets and liabilities and derivative financial instruments, as defined by IFRS, included in the balance sheet as of 31 December 2025 (2024). Financial instruments affected by the above market risks include net working capital items, such as trade and other receivables and trade and other payables, interest-bearing liabilities, deposits, liquid funds, and derivative financial instruments. When cash flow hedge accounting is applied, the change in the fair value of derivative financial instruments is assumed to be recorded fully in equity.The following assumptions were made when calculating the sensitivity to the change in oil prices:\u2022 The price variation for oil derivative contracts of crude oil, refined oil products and vegetable oil is assumed to be +/- 20%.\u2022 The sensitivity related to oil derivative contracts held for hedging refinery oil inventory position is included; the underlying physical oil inventory position is excluded from the calculation, since inventory is not a financial instrument.\u2022 The sensitivity related to oil derivative contracts held for hedging expected future refining margin is included; the underlying expected refining margin position is excluded from the calculation.The following assumptions were made when calculating the sensitivity to changes in the EUR/USD exchange rate:\u2022 The variation in the EUR/USD-rate is assumed to be +/- 10%.\u2022 The position includes USD-denominated financial assets and liabilities, such as interest-bearing liabilities, deposits, trade andother receivables, trade and other payables, and liquid funds, as well as derivative financial instruments.\u2022 The position excludes USD-denominated future cash flows.The following assumptions were applied when calculating the sensitivity to changes in interest rates:\u2022 The variation of interest rate is assumed to be a 1 percentage point parallel shift in the interest rate curve.\u2022 The interest rate risk position includes interest-bearing liabilities (excluding leases), interest-bearing receivables, and interestrate swaps, however liquid funds are excluded.\u2022 The income statement is affected by changes in the interest rates of floating-rate financial instruments except derivativefinancial instruments that are designated as and qualifying for cash flow hedges, which are recorded directly in equity.The sensitivity analysis presented in the following table may not be representative, since Neste\u2019s exposure to market risks also arises from balance sheet items other than financial instruments, such as inventories. As the sensitivity analysis does not take into account future cash flows, which Neste hedges in significant volumes, it only reflects the change in fair value of hedging instruments. In addition, the size of the exposure sensitive to changes in the EUR/USD exchange rate varies significantly, so the position on the balance sheet date may not be representative for the financial period on average. Equity in the following table includes items which are recorded directly in equity. Items affecting the consolidated statement of income are not included in equity.2025 2024Sensitivity to market risk arising from Income Income financial instruments as required by IFRS 7statement Equitystatement Equity1)+/- 20% change in oil price EUR million +/-91 +/-0 +/-25 +/-0+/- 10% change in EUR/USD exchange rate EUR million +103/-125 +118/-145 +114/-139 +143/-143+/- 1% parallel shift in interest rates EUR million -/+11 +/-1 -/+14 +/-11)Includes crude oil, refined oil products and vegetable oil derivatives",
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"value": "Liquidity and refinancing risksLiquidity risk is defined as financial distress or extraordinarily high financing costs due to a shortage of liquid funds in a situation where business conditions unexpectedly deteriorate and require financing. The objective of liquidity risk management is to maintain sufficient liquidity at all times to prevent financial distress. Neste\u2019s principal source of liquidity is expected to be cash generated from operations. In addition, Neste seeks to reduce liquidity and refinancing risks by maintaining a diversified maturity profile in its loan portfolio. Certain other limits have also been set to minimize liquidity and refinancing risks. The amount of short-term financing is limited to the greater of the following: EUR 500 million or 30% of total interest-bearing liabilities. Unused committed credit facilities together with cash must always be at a minimum EUR 700 million and sufficient to cover all forecasted negative free cash flows and interest-bearing liabilities maturing within the next 12-month period.The average loan maturity as of 31 December 2025 was 3.9 years (2024: 4.1 years). The most important financing programs in place are committed revolving multicurrency credit agreement of EUR 1,300 million, other committed revolving credit agreements totaling EUR 750 million, overdraft facilities totaling EUR 150 million and uncommitted domestic commercial paper program of EUR 400 million. The EUR 1,300 million revolving multicurrency credit agreement signed in 2025 for general corporate purposes will expire in April, 2030. Other committed revolving credit agreements, totaling EUR 750 million, will expire during years 2027\u20132028.Liquid funds and committed unutilized credit facilities 31 Dec 2025 31 Dec 2024Liquid funds 1,367 955Overdraft and revolving credit facilities, expiring within one year 150 242Revolving credit facility, expiring beyond one year 2,050 1,683Total 3,567 2,880In addition: unused commercial paper program (uncommitted) 400 89Maturity profile of financial liabilities based on contractual payments 31 Dec 2025 2026 2027 2028 2029 2030 2031- TotalTrade payables and other liabilities 2,287 1 17 1 1 12 2,319Interest-bearing liabilities 1)Bonds0 0 500 500 700 1,100 2,800Loans from financial institutions 265 248 500 200 200 0 1,413 2)Lease liabilities205 133 108 83 49 367 945Commercial papers 0 0 0 0 0 0 0Other loans 1 0 0 30 0 0 31Interest of lease liabilities 48 40 34 29 26 197 374Interest of other liabilities 120 116 100 84 81 135 636Total 2,926 538 1,259 927 1,056 1,812 8,518Commodity derivatives 106 3 108Interest rate swaps 1 1 0 0 0 0 2Gross settled forward foreign exchange contracts- inflow (-) -2,038 -2,038- outflow 2,062 2,062Derivatives total 130 3 0 0 0 0 1341) 2) Refer to Note 21 Financial liabilities for further information Refer to Note 29 Leases for further informationMaturity profile of financial liabilities based on contractual payments 31 Dec 2024 2025 2026 2027 2028 2029 2030\u2013 TotalTrade payables and other liabilities 2,092 1 1 15 1 13 2,124Interest-bearing liabilities 1)Bonds0 0 0 500 500 1,100 2,100Loans from financial institutions 253 156 773 0 200 200 1,582 2)Lease liabilities224 160 107 85 68 470 1,114Commercial papers 307 0 0 0 0 0 307Other loans 1 0 0 0 30 0 31Interest of lease liabilities 54 46 40 35 31 323 528Interest of other liabilities 120 116 100 84 81 135 636Total 3,052 479 1,021 719 910 2,241 8,423Commodity derivatives 83 2 0 0 0 0 84Interest rate swaps 0 2 1 1 1 0 6Gross settled forward foreign exchange contracts- inflow (-) -3,636 0 0 0 0 0 -3,636- outflow 3,783 0 0 0 0 0 3,783Derivatives total 230 4 1 1 1 0 2371) 2) Refer to Note 21 Financial liabilities for further information Refer to Note 29 Leases for further informationAs described in Note 21, Neste also participates in supplier finance arrangements with the principal purpose of facilitating efficient payment processing of supplier invoices. Under the arrangements the supplier may elect to receive early payment from the financial institution by selling its receivables from Neste. On average, the payment terms for invoices relating to participating suppliers are extended by 60 days compared to the normal terms agreed with other suppliers individually.Neste maintains sufficient cash and unused committed credit facilities to reduce the refinancing risk in relation to the supplier finance arrangement.",
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"value": "Credit and counterparty riskCounterparty risk arises from all business relationships, where Neste is exposed to the counterparty\u2019s failure to perform according to Neste\u2019s requirements and contractual commitments. The risk arises especially from sales, supply, hedging and trading transactions as well as from cash investments. Risk magnitude depends on the size of the business exposure and creditworthiness of the counterparty. The objective of counterparty and credit risk management is to prevent and minimize the losses incurred as a result of a counterparty not fulfilling its obligations. Limits, mandates and management principles for counterparty and credit risk are covered in the Corporate risk management policy and separate principle and instruction-level documents. Credit risk limits are set at the Group level, designated by different levels of authorization and delegated to Neste\u2019s reporting segments, which are responsible for counterparty risk management within these limits. When determining the credit lines for sales contracts, counterparties are screened and evaluated vis-\u00e0-vis their creditworthiness to decide whether an open credit line is acceptable or collateral, for example, a letter of credit, bank guarantee or parent company guarantee has to be posted. In the event that collateral is required credit risk is evaluated based on a financial evaluation of the party posting the collateral. If appropriate in terms of the potential credit risk associated with a specific customer, advance payment is required before delivery of products or services. In addition, Neste may reduce its counterparty risks by selling trade receivables to a third party, e.g. a bank. Neste risk management policy divides credit lines for counterparties into following categories according to contract type: physical sales transactions, derivative transactions and financial transactions. In each of the categories counterparty credit limits and decision making mandates are determined separately for counterparties rated by general rating agencies and unrated counterparties. For OTC (over-the-counter) derivative financial instrument contracts, Neste has negotiated framework agreements in the form of the ISDA (International Swaps and Derivatives Association) master agreement with the main counterparties concerning commodity, emission allowance, currency and interest rate derivative financial instruments. These contracts permit netting and allow for termination of the contract on the occurrence of certain events of defaults and termination events. Some of these agreements include Credit Support Annexes (CSA) with the aim of reducing credit and counterparty risk by requiring margin call deposits in the form of cash or letter of credit for balances exceeding the mutually agreed limit. At the end of December 2025, Neste had received EUR 1 million in cash collateral (2024: EUR 1 million) and EUR 0 million letter of credit (2024: EUR 0 million) due to CSA agreements. Neste had issued EUR 5 million in cash collateral (2024: EUR 21 million) and EUR 0 million letter of credit (2024: EUR 0 million) due to CSA agreements.31 Dec 2025 31 Dec 2024Financial assets Financial liabilities Financial assets Financial liabilitiesFinancial impact of netting for instruments subject to an enforceable master netting agreement (or similar)Derivatives Trade receivables Derivatives Trade payables Derivatives Trade receivables Derivatives Trade payablesGross amount of recognized financial instruments 119 0 134 13 145 18 238 3Related liabilities or assets subject to master netting agreements 89 0 89 0 128 0 128 0CSA agreements 1 0 5 0 1 0 21 0Net exposure 29 0 40 13 16 18 89 3Neste subsidiaries are required to deposit their excess cash balances with the Group Treasury on an ongoing basis in order to provide sufficient visibility and management of Neste\u2019s cash balance and risks associated with it. As for counterparty risk management, the minimum credit rating requirement for companies providing insurance for Neste Group is defined in the insurance principles.Neste has a large number of different international counterparties. As to the range of counterparties, the most significant types are primarily large international oil companies and financial institutions. Neste\u2019s exposure to unexpected credit losses within one reporting segment may increase with the concentration of credit risk through a number of counterparties operating in the same industry sector or geographical area, which may be adversely affected by changes in economic, political or other conditions. These risks are reduced by taking concentration risks into consideration in credit decisions.Counterparties to contracts comprising derivative financial instruments exposure on 31 December 2025: over 85% of the counterparties or their parent companies related to commodity derivative contracts have investment-grade rating from an established international credit rating agency. Respectively, Group Treasury & Risk Management had an exposure for currency and interest rate derivative contracts as of 31 December 2025 with banks, of which all have investment-grade rating at a minimum. Commodity derivative transactions are also done through exchanges.Neste assesses expected credit losses and calculates impairment loss from trade receivables based on historical credit loss experience combined with current conditions and forward-looking macroeconomic analysis. Analysis is conducted utilizing industry outlook and economic forecasts from various data sources. Neste has chosen a cautious expected credit loss calculation as indicated by the low level of actual historical credit losses compared to the expected credit loss provision. The receivables have been divided in aging buckets and segments depending on business area and geographic region, in addition to which they are assessed case by case. Impairment loss from trade receivables for the period is EUR 38 million (2024: EUR 14 million). Analysis of trade receivables by age 31 Dec 2025 31 Dec 2024not past due 968 1,1001\u201330 days overdue 74 11131\u201360 days overdue 5 761\u201390 days overdue 7 1191\u2013180 days overdue 27 4 1)more than 180 days overdue46 85Trade receivables \u2013 Net 1,128 1,3191) Blender\u2019s Tax Credit receivables from the US tax authorities on 31 December 2025 were EUR 49 million (2024: EUR 200 million), of which EUR 41 million (2024: EUR 76 million) was more than 180 days overdue.Trade receivables and contract assets are written off when there is no reasonable expectation of recovery. Indications that there is no reasonable expectation of recovery may be, e.g. a debtor failing to engage in a repayment plan with the company, or a debtor failing to make contractual payments more than 180 days past due. However, the write-offs are interpreted case by case and thus if there is a high probability that the receivable will still be paid, no write-off is made. For all bankruptcies and debt restructurings, Neste makes an immediate write-off. Where trade receivables or contract assets have been written off, the company continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized in profit or loss as a reversal of the write-off.",
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"value": "Neste assesses expected credit losses and calculates impairment loss from trade receivables based on historical credit loss experience combined with current conditions and forward-looking macroeconomic analysis. Analysis is conducted utilizing industry outlook and economic forecasts from various data sources. Neste has chosen a cautious expected credit loss calculation as indicated by the low level of actual historical credit losses compared to the expected credit loss provision. The receivables have been divided in aging buckets and segments depending on business area and geographic region, in addition to which they are assessed case by case. Impairment loss from trade receivables for the period is EUR 38 million (2024: EUR 14 million).",
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"value": "Capital risk management Neste\u2019s objective when managing capital is to secure a capital structure that ensures access to capital markets at all times despite the business cycle of the industry in which Neste operates. Neste seeks to maintain a capital structure consistent with an investment-grade rating. The capital structure of Neste is reviewed by the Board of Directors on a regular basis.Neste monitors its capital on the basis of leverage ratio, the ratio of interest-bearing net debt to interest-bearing net debt plus total equity. Interest-bearing net debt is calculated as interest-bearing liabilities less liquid funds. Over the cycle, Neste\u2019s leverage ratio is likely to fluctuate, and it is Neste\u2019s objective to maintain the leverage ratio below 40%. The leverage ratio 31 Dec 2025 31 Dec 2024Total interest-bearing liabilities 5,183 5,147Liquid funds 1,367 955Interest-bearing net debt 3,817 4,192Total equity 7,314 7,417Interest-bearing net debt and total equity 11,130 11,609Leverage ratio 34.3% 36.1%Reconciliation of interest-bearing net debt Cash and cash equivalents Liquid investments Lease liabilities Borrowings TotalNet debt as of 1 January 2025 -955 0 1,114 4,034 4,192Cash flows -447 0 -275 80 -642New lease liabilities 0 0 254 0 254Acquisitions and disposals 0 0 0 0 0Foreign exchange differences 35 0 -75 -20 -60Other non-cash movements 0 0 -72 144 72Net debt as of 31 December 2025 -1,367 0 945 4,238 3,817Reconciliation of interest-bearing net debt Cash and cash equivalents Liquid investments Lease liabilities Borrowings TotalNet debt as of 1 January 2024 -1,575 -5 967 3,101 2,488Cash flows 655 5 -278 943 1,325New lease liabilities 0 0 420 0 420Acquisitions and disposals 0 0 0 0 0Foreign exchange differences -36 0 11 -10 -35Other non-cash movements 0 0 -6 0 -6Net debt as of 31 December 2024 -955 0 1,114 4,034 4,192",
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"value": "4 Segment informationAccounting policyNeste\u2019s operations are divided into three operating segments: Renewable Products, Oil Products, Marketing & Services. The performance of the reporting segments is reviewed regularly by the chief operating decision-maker, Neste\u2019s President & CEO, to assess performance and to decide on allocation of resources. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker.The segments\u2019 operating results are measured based on comparable EBITDA. The accounting policies applicable to the segment reporting are the same as those used in the Neste\u2019s consolidated financial statements. All inter-segment transactions are on an arm\u2019s length basis and are eliminated in consolidation. Segment operating profit includes realized gains and losses from foreign currency and commodity derivative contracts hedging cash flows of commercial sales and purchases that have been recognized in the consolidated statement of income.Segments\u2019 operating assets and liabilities consist of assets and liabilities utilized in the segments\u2019 business operations. Assets consist primarily of property, plant and equipment, goodwill, intangible assets, investments in associates and joint ventures, inventories and operative receivables. They exclude current and deferred taxes, interest-bearing receivables, and derivative financial instruments designated as hedges of forecasted future cash flows. Segment operative liabilities consist of operative liabilities, pension liabilities, current and non-current lease liabilities and provisions; and exclude items such as current and deferred taxes, interest-bearing liabilities, and derivative financial instruments designated as hedges of forecasted future cash flows.Neste's business structureNeste\u2019s organization consists of three business areas and three functions. The business areas act as profit centers and are responsible for their customers, products, and business development. Business areas are Renewable Products, Oil Products, and Marketing & Services. The functions are COO Office, CFO Office and People & Culture. The functions are responsible for supporting business areas and other organizations, and ensuring their cost efficiency, transparency, and harmonization of processes across the company, and for overseeing the use and sufficiency of Neste\u2019s resources.Operating segmentsOperating segments are engaged in the following key business activities:Renewable Products segment produces, markets and sells renewable diesel, sustainable aviation fuel (SAF) and related solutions to business customers, as well as domestic and international wholesale markets. Renewable products are produced at Neste\u2019s refineries in Finland, the Netherlands and Singapore, as well as through a joint operation with Marathon Petroleum in Martinez, California, the US, from renewable raw materials with an annual nameplate capacity of approximately 5.5 million tons. When completed, Neste\u2019s Rotterdam refinery capacity expansion project will further increase the company\u2019s total annual production capacity of renewable products to 6.8 million tons in 2027. Renewable Products segment is assessed to contain taxonomy-eligible and -aligned economic activities based on the Climate Delegated Act of the Taxonomy Regulation. Neste\u2019s calculations related to its carbon handprint and the EU Taxonomy eligibility and alignment figures are mainly based on Renewable Products segment figures. More information about sustainability at Neste including climate-related matters can be found in the Annual review and the Sustainability statement (CSRD) in the Review by the Board of Directors.Oil Products segment produces, markets and sells an extensive range of high-quality oil products and related services to a global customer base. The product range includes diesel, gasoline, aviation and marine fuels, light and heavy fuel oils, gasoline components, special fuels, such as small-engine gasoline, solvents, and liquid gases. Oil products are refined at Neste\u2019s refinery in Porvoo, Finland. Marketing & Services segment markets and sells lower-emission fuels and high-quality oil products and associated digital solutions to its customers in Finland, Estonia, Latvia, and Lithuania. The most important customers include consumers, transport service providers, customers in aviation, shipping, industrial and agricultural sectors, municipalities and heating fuel customers. Transport fuels, high power EV charging services and other services are marketed through Neste\u2019s own station network in Finland and the Baltics.\u2018Others\u2019 consist of common corporate and functional costs. The operating segments presented above do not include any segments which are formed by aggregating two or more smaller segments.The \u2018other expenses\u2019 included in the consolidated statement of income for each business segment includes the following major items:Renewable Products: repairs and maintenance, planning and consulting services, rents and other property costs, travel, HSE and marketing costs, and insurance premiums.Oil Products: repairs and maintenance, planning and consulting services, rents and other property costs, travel and HSE costs and insurance premiums.Marketing & Services: repairs and maintenance, rents and other property costs and marketing costs.Neste\u2019s customer structure in 2025 and 2024 did not result in any major concentration in any given geographical area or operating segment.Information about Neste\u2019s operating segments as of and for the years ended December 31, 2025 and 2024 is presented in the following tables:Renewable Oil Marketing & 1)2025Products ProductsServices Others Eliminations Group NoteIS External revenue 7,817 6,920 4,272 7 0 19,016Internal revenue 278 2,403 37 160 -2,878 0IS Total revenue 8,095 9,322 4,310 166 -2,878 19,016 5IS Other income 48 60 5 37 -25 125 6IS, CF Share of profit (loss) of associates and joint ventures -4 11 0 0 0 7 15IS Materials and services -6,644 -8,353 -4,089 -6 2,720 -16,372 7IS Employee benefit costs -247 -133 -34 -170 0 -584 8IS, CF Depreciation, amortization and impairments -567 -314 -27 -32 5 -934IS Other expenses -530 -268 -82 -58 184 -753 9 1) IS Operating profit151 325 82 -62 6 503IS Financial income and expense -304 10IS Profit before income taxes 199IS Income tax expense -55 11IS Profit for the period 144Comparable EBITDA 764 808 111 -1 1 1,683inventory valuation gains/losses 2 -161 0 0 0 -159changes in the fair value of open commodity and currency derivatives -44 3 0 0 0 -42capital gains and losses 0 3 0 2 0 4other adjustments -4 -13 -2 -30 0 -49EBITDA 718 639 109 -30 1 1,438IS, CF Depreciation, amortization and impairments -567 -314 -27 -32 5 -934IS Operating profit 151 325 82 -62 6 5031) The Clean Fuel Production Credit (CFPC) contribution was EUR 126 million and the US Blender\u2019s Tax Credit (BTC) contribution was EUR 27 million to the Renewable Products\u2019 operating profit in 2025. More information about biofuel credits and tax credits in general in addition with their accounting policies,sold volumes and average prices can be found in Note 5 Revenue. Renewable Oil Marketing & 2025ProductsProductsServices Others Eliminations Group NoteCapital expenditure and investments in shares 928 270 34 22 0 1,253Segment operating assets 10,038 3,217 558 259 -250 13,821BS Investments in associates and joint ventures 22 32 0 0 0 54 15BS Deferred tax assets 221 11Unallocated assets 1,653BS Total assets 10,060 3,249 558 259 -250 15,749Segment operating liabilities 1,979 1,347 403 196 -250 3,674BS Deferred tax liabilities 370 11Unallocated liabilities 4,391BS Total liabilities 1,979 1,347 403 196 -250 8,435Segment net assets 8,863 1,999 215 70 0 11,146Return on net assets, % 1.7 15.0 39.6Comparable return on net assets, % 2.2 22.7 40.5Renewable Oil Marketing & 1)2024Products ProductsServices Others Eliminations Group NoteIS External revenue 7,075 8,904 4,645 11 0 20,635Internal revenue 246 2,925 42 114 -3,326 0IS Total revenue 7,321 11,829 4,687 125 -3,326 20,635 5IS Other income 22 22 5 33 -27 54 6IS, CF Share of profit (loss) of associates and joint ventures -6 -2 0 0 0 -9 15IS Materials and services -6,289 -10,839 -4,475 -12 3,228 -18,388 7IS Employee benefit costs -257 -135 -33 -156 0 -582 8IS, CF Depreciation, amortization and impairments -589 -322 -28 -41 0 -980IS Other expenses -549 -207 -83 1 132 -706 9 1) IS Operating profit-347 345 72 -51 6 25IS Financial income and expense -138 10IS Profit before income taxes -113IS Income tax expense 19 11IS Profit for the period -95Comparable EBITDA 514 633 101 -1 6 1,252inventory valuation gains/losses -352 -7 0 0 0 -359changes in the fair value of open commodity and currency derivatives 86 -2 0 0 0 84capital gains and losses 0 -2 0 0 0 -2other adjustments -6 45 -1 -9 0 29EBITDA 242 667 100 -10 6 1,005IS, CF Depreciation, amortization and impairments -589 -322 -28 -41 0 -980IS Operating profit -347 345 72 -51 6 251) The US Blender\u2019s Tax Credit (BTC) contribution was EUR 590 million to the Renewable Products\u2019 operating profit in 2024. More information about biofuel credits and tax credits in general in addition with their accounting policies, sold volumes and average prices can be found in Note 5 Revenue. Renewable Oil Marketing & 2024ProductsProductsServices Others Eliminations Group NoteCapital expenditure and investments in shares 1,446 453 39 69 0 2,006Segment operating assets 9,911 3,560 559 357 -333 14,053BS Investments in associates and joint ventures 32 21 0 0 0 53 15BS Deferred tax assets 222 11Unallocated assets 1,252BS Total assets 9,943 3,581 559 357 -333 15,581Segment operating liabilities 1,891 1,310 421 280 -328 3,574BS Deferred tax liabilities 335 11Unallocated liabilities 4,255BS Total liabilities 1,891 1,310 421 280 -328 8,164Segment net assets 9,064 2,300 198 88 -5 11,646Return on net assets, % -4.0 14.0 30.9Comparable return on net assets, % -0.9 13.2 31.4Geographical information Neste operates production facilities in Finland, Singapore, the Netherlands and in the USA and its retail sales network in Finland, Estonia, Latvia and Lithuania. The following table provides information on Neste\u2019s revenue, which is allocated based on the country of destination, irrespective of the origin of the goods or services, and non-current assets and capital expenditure, which are allocated based on where the assets are located. Non-current assets consist of goodwill, intangible assets, property, plant and equipment and investments in associates and joint ventures. \u2018Other Nordic countries\u2019 includes Sweden, Norway, Denmark and Iceland. \u2018Baltic rim\u2019 includes Estonia, Latvia, Lithuania and Poland. Neste\u2019s activities in this geographical area consists mainly of retail activities in the aforementioned countries.Other Other Other 2025 FinlandNordic countries Baltic rimEuropean countries USAcountries GroupIS Revenue by destination 4,855 2,312 2,044 6,054 3,285 465 19,016Non-current assets 2,679 2 74 3,469 1,427 1,920 9,571Capital expenditure 380 0 5 761 45 61 1,253Other Other Other 2024 FinlandNordic countries Baltic rimEuropean countries USAcountries GroupIS Revenue by destination 5,641 1,911 1,763 4,236 6,242 841 20,635Non-current assets 2,763 3 79 2,835 1,865 2,059 9,603Capital expenditure 678 3 8 966 165 187 2,006",
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"value": "Accounting policyNeste\u2019s operations are divided into three operating segments: Renewable Products, Oil Products, Marketing & Services. The performance of the reporting segments is reviewed regularly by the chief operating decision-maker, Neste\u2019s President & CEO, to assess performance and to decide on allocation of resources. Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker.The segments\u2019 operating results are measured based on comparable EBITDA. The accounting policies applicable to the segment reporting are the same as those used in the Neste\u2019s consolidated financial statements. All inter-segment transactions are on an arm\u2019s length basis and are eliminated in consolidation. Segment operating profit includes realized gains and losses from foreign currency and commodity derivative contracts hedging cash flows of commercial sales and purchases that have been recognized in the consolidated statement of income.Segments\u2019 operating assets and liabilities consist of assets and liabilities utilized in the segments\u2019 business operations. Assets consist primarily of property, plant and equipment, goodwill, intangible assets, investments in associates and joint ventures, inventories and operative receivables. They exclude current and deferred taxes, interest-bearing receivables, and derivative financial instruments designated as hedges of forecasted future cash flows. Segment operative liabilities consist of operative liabilities, pension liabilities, current and non-current lease liabilities and provisions; and exclude items such as current and deferred taxes, interest-bearing liabilities, and derivative financial instruments designated as hedges of forecasted future cash flows.",
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"value": "5 RevenueAccounting policyRevenue from contracts with customers is recognized when or as Neste satisfies a performance obligation by transferring control of a promised good or service to a customer. A customer obtains control when it has the ability to direct the use of and obtain the benefits from the good or service, either over time or at a point in time. Neste principally satisfies its performance obligations at a point in time. The amounts of revenue recognized relating to performance obligations satisfied over time are not significant.When, or as, a performance obligation is satisfied, Neste recognizes as revenue the amount of the transaction price that is allocated to that performance obligation. The transaction price is the amount of consideration to which Neste expects to be entitled in exchange for the promised goods or services. The transaction price is allocated to the performance obligations in the contract based on the standalone selling prices of the goods or services promised.Timing for revenue recognized at a point in time is typically when control has been transferred based on the delivery terms used. A receivable is recognized when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.Revenue recognized over time is measured in accordance with the input method (progress measured based on costs incurred) when the outcome of the contract can be estimated reliably. Neste uses an input method in measuring progress of the services because there is a direct relationship between Neste\u2019s effort and the transfer of service to the customer. When the outcome cannot be reliably determined, the costs arising are expensed in the same financial period in which they occur, but the revenue is recorded only to the extent that the company will receive an amount corresponding to actual costs. Any losses are expensed immediately. Neste provides its customers with standard payment terms. If extended payment terms exceeding one year are offered to customers, the invoiced amount is discounted to its present value and interest income is recognized over the credit term.Revenue is presented net of indirect sales taxes such as value added tax and statutory stockpiling fees, penalties and discounts.Biofuel creditsNeste earns biofuel credits in the US in the form of California Low Carbon Fuel Standard credits (LCFS) and Renewable Identification Numbers (RINs) which are recognized in revenue. Neste considers biofuel credits as assets created under various government programs to incentivize renewable fuel supply and recognizes them as government grants upon generation and as revenue when sold to third parties. The LCFS (Low Carbon Fuel Standard) is designed to reduce greenhouse gas (GHG) emissions from the transportation sector. Established by the California Air Resources Board (CARB), the target is to lower the carbon intensity (CI) of transportation fuels used within the state. Credits are earned by producing fuels with CI levels which are below the set target. A Renewable Identification Number (or RIN) is a serial number assigned to a batch of biofuel for the purpose of tracking its production, use, and trading. RINs are earned when either producing or importing renewable fuels that meet the United States Environmental Protection Agency\u2019s (EPA) eligibility criteria. Both LCFS credits and RINs are actively traded in the market. Blender\u2019s Tax Credit (BTC) and Clean Fuel Production Credit (CFPC) are accounted similar to biofuel credits. Neste considers these also as assets created under various government programs to incentivize renewable fuel supply and production, and recognizes them upon generation and revenue is recognized when sold to third parties. The BTC expired at the end of 2024 for renewable diesel and at the end of September 2025 for sustainable aviation fuel. The CFPC replaced BTC in 2025. CFPC is earned from qualifying sales of low-carbon transportation fuel produced. Estimates and judgements requiring management estimationSome of Neste\u2019s contracts may involve elements of variable considerations, such as rebates, bonuses or penalties. The variable consideration is estimated by using either the expected value or the most likely amount \u2013method, depending on the type of variable element and related contractual terms and conditions. Amount of variable consideration is included in the transaction price only to the extent that management considers it is highly probable that a significant reversal of revenue does not occur later.As CFPC is not in the scope of IFRS standards, management has developed an accounting policy to be applied. Management has decided to recognize CFPC similar to biofuel credits since management considers CFPCs also as assets created under government program to incentivize renewable fuel supply and production. Thus, Neste recognizes them upon generation and revenue is recognized when sold to third parties.Revenue by category 2025 2024Renewable Marketing & Renewable Marketing & External revenueProducts Oil ProductsServices Others TotalProducts Oil ProductsServices Others TotalFuels 7,273 6,428 4,171 0 17,872 6,355 8,421 4,539 0 19,315 1) Middle distillates7,133 3,600 3,279 0 14,012 6,203 4,650 3,596 0 14,449 2) Light distillates140 2,469 889 0 3,498 153 3,161 938 0 4,252Heavy fuel oil 0 359 4 0 363 0 610 5 0 615Other products 515 358 93 0 966 681 359 96 0 1,136Other services 30 133 8 7 177 38 124 10 11 183IS Total 7,817 6,920 4,272 7 19,016 7,075 8,904 4,645 11 20,6351) Middle distillates comprise diesel, jet fuels, low sulphur marine fuels, heating oil, renewable fuels, and sustainable aviation fuels (SAF). 2) Light distillates comprise motor gasoline, gasoline components, liquefied petroleum gas, renewable naphtha, and biopropane. RINs (Renewable Identification Number), LCFS (Low Carbon Fuels Standard) credits, CFPCs (Clean Fuel Production Credits), and BTCs (Blender\u2019s Tax Credits) are included in the corresponding fuel categories in the Renewable Products segment.Fuels category includes product sales from Neste\u2019s own refineries, other production facilities and retail stations as well as other sale of petroleum products, feedstock, raw materials and oil trading. Excise taxes included in the retail selling price of finished oil products amounting to EUR 1,412 million (2024: EUR 1,422 million) are included in the Middle distillates amount. The corresponding amount is included in the purchase price of petroleum products and included in Materials and Services, in Note 7.Oil trading included in the Fuels category comprise of result from physical trading activities conducted on international and regional markets by taking delivery of and selling petroleum products and raw materials within a short period of time for the purpose of generating a profit from short-term fluctuations in product and raw material prices and margins. Net gains and losses on sales-related derivatives qualifying for cash flow hedge accounting are included in revenue amounting to EUR 81 million (2024: EUR -23 million).Timing of revenue recognition 2025 2024Renewable Marketing & Renewable Marketing & External revenueProducts Oil ProductsServices Others TotalProducts Oil ProductsServices Others TotalGoods transferred at point in time 7,787 6,787 4,265 0 18,838 7,037 8,780 4,635 0 20,452Services transferred at point in time 30 133 8 3 174 38 124 10 1 173Services transferred over time 0 0 0 4 4 0 0 0 10 10IS Total 7,817 6,920 4,272 7 19,016 7,075 8,904 4,645 11 20,635Revenue by operating segment 2025Renewable Products Oil Products Marketing & Services Others Eliminations TotalExternal revenue 7,817 6,920 4,272 7 0 19,016Internal revenue 278 2,403 37 160 -2,878 0IS Total revenue 8,095 9,322 4,310 166 -2,878 19,016Revenue by operating segment 2024Renewable Products Oil Products Marketing & Services Others Eliminations TotalExternal revenue 7,075 8,904 4,645 11 0 20,635Internal revenue 246 2,925 42 114 -3,326 0IS Total revenue 7,321 11,829 4,687 125 -3,326 20,635Revenue by operating destination 2025 2024Renewable Marketing & Renewable Marketing & External revenueProducts Oil ProductsServices Others TotalProducts Oil ProductsServices Others TotalFinland 289 1,267 3,293 7 4,855 172 1,849 3,609 11 5,641Other Nordic countries 966 1,344 2 0 2,312 722 1,187 2 0 1,911Baltic Rim 98 971 975 0 2,044 56 676 1,031 0 1,763Other European countries 3,761 2,291 3 0 6,054 2,392 1,841 3 0 4,236USA 2,485 800 0 0 3,285 3,556 2,687 0 0 6,242Other countries 219 246 0 0 465 177 664 0 0 841IS Total 7,817 6,920 4,272 7 19,016 7,075 8,904 4,645 11 20,635Biofuel creditsKey drivers 2025 2024Biomass-based diesel (D4) RIN, USD/RIN 1.01 0.59California LCFS Credit, USD/CO2ton 56 60Number of sold RIN Credits (1,000) 617,792 1,161,628Number of sold LCFS Credits (1,000) 2,996 2,886",
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"value": "5 RevenueAccounting policyRevenue from contracts with customers is recognized when or as Neste satisfies a performance obligation by transferring control of a promised good or service to a customer. A customer obtains control when it has the ability to direct the use of and obtain the benefits from the good or service, either over time or at a point in time. Neste principally satisfies its performance obligations at a point in time. The amounts of revenue recognized relating to performance obligations satisfied over time are not significant.When, or as, a performance obligation is satisfied, Neste recognizes as revenue the amount of the transaction price that is allocated to that performance obligation. The transaction price is the amount of consideration to which Neste expects to be entitled in exchange for the promised goods or services. The transaction price is allocated to the performance obligations in the contract based on the standalone selling prices of the goods or services promised.Timing for revenue recognized at a point in time is typically when control has been transferred based on the delivery terms used. A receivable is recognized when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.Revenue recognized over time is measured in accordance with the input method (progress measured based on costs incurred) when the outcome of the contract can be estimated reliably. Neste uses an input method in measuring progress of the services because there is a direct relationship between Neste\u2019s effort and the transfer of service to the customer. When the outcome cannot be reliably determined, the costs arising are expensed in the same financial period in which they occur, but the revenue is recorded only to the extent that the company will receive an amount corresponding to actual costs. Any losses are expensed immediately. Neste provides its customers with standard payment terms. If extended payment terms exceeding one year are offered to customers, the invoiced amount is discounted to its present value and interest income is recognized over the credit term.Revenue is presented net of indirect sales taxes such as value added tax and statutory stockpiling fees, penalties and discounts.Biofuel creditsNeste earns biofuel credits in the US in the form of California Low Carbon Fuel Standard credits (LCFS) and Renewable Identification Numbers (RINs) which are recognized in revenue. Neste considers biofuel credits as assets created under various government programs to incentivize renewable fuel supply and recognizes them as government grants upon generation and as revenue when sold to third parties. The LCFS (Low Carbon Fuel Standard) is designed to reduce greenhouse gas (GHG) emissions from the transportation sector. Established by the California Air Resources Board (CARB), the target is to lower the carbon intensity (CI) of transportation fuels used within the state. Credits are earned by producing fuels with CI levels which are below the set target. A Renewable Identification Number (or RIN) is a serial number assigned to a batch of biofuel for the purpose of tracking its production, use, and trading. RINs are earned when either producing or importing renewable fuels that meet the United States Environmental Protection Agency\u2019s (EPA) eligibility criteria. Both LCFS credits and RINs are actively traded in the market. Blender\u2019s Tax Credit (BTC) and Clean Fuel Production Credit (CFPC) are accounted similar to biofuel credits. Neste considers these also as assets created under various government programs to incentivize renewable fuel supply and production, and recognizes them upon generation and revenue is recognized when sold to third parties. The BTC expired at the end of 2024 for renewable diesel and at the end of September 2025 for sustainable aviation fuel. The CFPC replaced BTC in 2025. CFPC is earned from qualifying sales of low-carbon transportation fuel produced. Estimates and judgements requiring management estimationSome of Neste\u2019s contracts may involve elements of variable considerations, such as rebates, bonuses or penalties. The variable consideration is estimated by using either the expected value or the most likely amount \u2013method, depending on the type of variable element and related contractual terms and conditions. Amount of variable consideration is included in the transaction price only to the extent that management considers it is highly probable that a significant reversal of revenue does not occur later.As CFPC is not in the scope of IFRS standards, management has developed an accounting policy to be applied. Management has decided to recognize CFPC similar to biofuel credits since management considers CFPCs also as assets created under government program to incentivize renewable fuel supply and production. Thus, Neste recognizes them upon generation and revenue is recognized when sold to third parties.Revenue by category 2025 2024Renewable Marketing & Renewable Marketing & External revenueProducts Oil ProductsServices Others TotalProducts Oil ProductsServices Others TotalFuels 7,273 6,428 4,171 0 17,872 6,355 8,421 4,539 0 19,315 1) Middle distillates7,133 3,600 3,279 0 14,012 6,203 4,650 3,596 0 14,449 2) Light distillates140 2,469 889 0 3,498 153 3,161 938 0 4,252Heavy fuel oil 0 359 4 0 363 0 610 5 0 615Other products 515 358 93 0 966 681 359 96 0 1,136Other services 30 133 8 7 177 38 124 10 11 183IS Total 7,817 6,920 4,272 7 19,016 7,075 8,904 4,645 11 20,6351) Middle distillates comprise diesel, jet fuels, low sulphur marine fuels, heating oil, renewable fuels, and sustainable aviation fuels (SAF). 2) Light distillates comprise motor gasoline, gasoline components, liquefied petroleum gas, renewable naphtha, and biopropane. RINs (Renewable Identification Number), LCFS (Low Carbon Fuels Standard) credits, CFPCs (Clean Fuel Production Credits), and BTCs (Blender\u2019s Tax Credits) are included in the corresponding fuel categories in the Renewable Products segment.Fuels category includes product sales from Neste\u2019s own refineries, other production facilities and retail stations as well as other sale of petroleum products, feedstock, raw materials and oil trading. Excise taxes included in the retail selling price of finished oil products amounting to EUR 1,412 million (2024: EUR 1,422 million) are included in the Middle distillates amount. The corresponding amount is included in the purchase price of petroleum products and included in Materials and Services, in Note 7.Oil trading included in the Fuels category comprise of result from physical trading activities conducted on international and regional markets by taking delivery of and selling petroleum products and raw materials within a short period of time for the purpose of generating a profit from short-term fluctuations in product and raw material prices and margins. Net gains and losses on sales-related derivatives qualifying for cash flow hedge accounting are included in revenue amounting to EUR 81 million (2024: EUR -23 million).Timing of revenue recognition 2025 2024Renewable Marketing & Renewable Marketing & External revenueProducts Oil ProductsServices Others TotalProducts Oil ProductsServices Others TotalGoods transferred at point in time 7,787 6,787 4,265 0 18,838 7,037 8,780 4,635 0 20,452Services transferred at point in time 30 133 8 3 174 38 124 10 1 173Services transferred over time 0 0 0 4 4 0 0 0 10 10IS Total 7,817 6,920 4,272 7 19,016 7,075 8,904 4,645 11 20,635Revenue by operating segment 2025Renewable Products Oil Products Marketing & Services Others Eliminations TotalExternal revenue 7,817 6,920 4,272 7 0 19,016Internal revenue 278 2,403 37 160 -2,878 0IS Total revenue 8,095 9,322 4,310 166 -2,878 19,016Revenue by operating segment 2024Renewable Products Oil Products Marketing & Services Others Eliminations TotalExternal revenue 7,075 8,904 4,645 11 0 20,635Internal revenue 246 2,925 42 114 -3,326 0IS Total revenue 7,321 11,829 4,687 125 -3,326 20,635Revenue by operating destination 2025 2024Renewable Marketing & Renewable Marketing & External revenueProducts Oil ProductsServices Others TotalProducts Oil ProductsServices Others TotalFinland 289 1,267 3,293 7 4,855 172 1,849 3,609 11 5,641Other Nordic countries 966 1,344 2 0 2,312 722 1,187 2 0 1,911Baltic Rim 98 971 975 0 2,044 56 676 1,031 0 1,763Other European countries 3,761 2,291 3 0 6,054 2,392 1,841 3 0 4,236USA 2,485 800 0 0 3,285 3,556 2,687 0 0 6,242Other countries 219 246 0 0 465 177 664 0 0 841IS Total 7,817 6,920 4,272 7 19,016 7,075 8,904 4,645 11 20,635Biofuel creditsKey drivers 2025 2024Biomass-based diesel (D4) RIN, USD/RIN 1.01 0.59California LCFS Credit, USD/CO2ton 56 60Number of sold RIN Credits (1,000) 617,792 1,161,628Number of sold LCFS Credits (1,000) 2,996 2,886",
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"f1__s7__6__37": {
"value": "Accounting policyRevenue from contracts with customers is recognized when or as Neste satisfies a performance obligation by transferring control of a promised good or service to a customer. A customer obtains control when it has the ability to direct the use of and obtain the benefits from the good or service, either over time or at a point in time. Neste principally satisfies its performance obligations at a point in time. The amounts of revenue recognized relating to performance obligations satisfied over time are not significant.When, or as, a performance obligation is satisfied, Neste recognizes as revenue the amount of the transaction price that is allocated to that performance obligation. The transaction price is the amount of consideration to which Neste expects to be entitled in exchange for the promised goods or services. The transaction price is allocated to the performance obligations in the contract based on the standalone selling prices of the goods or services promised.Timing for revenue recognized at a point in time is typically when control has been transferred based on the delivery terms used. A receivable is recognized when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.Revenue recognized over time is measured in accordance with the input method (progress measured based on costs incurred) when the outcome of the contract can be estimated reliably. Neste uses an input method in measuring progress of the services because there is a direct relationship between Neste\u2019s effort and the transfer of service to the customer. When the outcome cannot be reliably determined, the costs arising are expensed in the same financial period in which they occur, but the revenue is recorded only to the extent that the company will receive an amount corresponding to actual costs. Any losses are expensed immediately. Neste provides its customers with standard payment terms. If extended payment terms exceeding one year are offered to customers, the invoiced amount is discounted to its present value and interest income is recognized over the credit term.Revenue is presented net of indirect sales taxes such as value added tax and statutory stockpiling fees, penalties and discounts.Biofuel creditsNeste earns biofuel credits in the US in the form of California Low Carbon Fuel Standard credits (LCFS) and Renewable Identification Numbers (RINs) which are recognized in revenue. Neste considers biofuel credits as assets created under various government programs to incentivize renewable fuel supply and recognizes them as government grants upon generation and as revenue when sold to third parties. The LCFS (Low Carbon Fuel Standard) is designed to reduce greenhouse gas (GHG) emissions from the transportation sector. Established by the California Air Resources Board (CARB), the target is to lower the carbon intensity (CI) of transportation fuels used within the state. Credits are earned by producing fuels with CI levels which are below the set target. A Renewable Identification Number (or RIN) is a serial number assigned to a batch of biofuel for the purpose of tracking its production, use, and trading. RINs are earned when either producing or importing renewable fuels that meet the United States Environmental Protection Agency\u2019s (EPA) eligibility criteria. Both LCFS credits and RINs are actively traded in the market. Blender\u2019s Tax Credit (BTC) and Clean Fuel Production Credit (CFPC) are accounted similar to biofuel credits. Neste considers these also as assets created under various government programs to incentivize renewable fuel supply and production, and recognizes them upon generation and revenue is recognized when sold to third parties. The BTC expired at the end of 2024 for renewable diesel and at the end of September 2025 for sustainable aviation fuel. The CFPC replaced BTC in 2025. CFPC is earned from qualifying sales of low-carbon transportation fuel produced.",
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"value": "7 Materials and servicesAccounting policyMaterials and supplies include the direct and indirect costs of purchase of raw materials, finished goods and other supplies used in the production. External services consist primarily of subcontracting and other production-related services. Emission allowancesThe difference between emissions generated and emission allowances received, as well as any change in the probable amount of the provision, are reflected in the operating profit. Refer to Note 13 Goodwill and intangible assets and Note 22 Provisions for further information.2025 2024Materials and supplies 16,393 17,821Change in inventories -56 497External services 35 70IS Materials and services 16,372 18,388Materials and supplies include excise taxes included in the retail selling price of petroleum products amounting to EUR 1,412 million (2024: EUR 1,422 million). The corresponding amount is included in Revenue in Note 5. The new US tariffs established in 2025 have had limited direct impact on Neste. Energy products, including renewable fuels, have been excluded from the scope of the tariffs.Neste has recognized EUR 35 million of expenses relating to emission allowances in Materials and supplies in 2025.The net result of non-hedge accounted commodity and foreign exchange derivatives amounted to EUR -7 million (2024: EUR 2 million). Above-mentioned items are included in Materials and supplies.Materials and supplies also include EUR 20 million (2024: EUR 17 million) of expenses related to lease contracts which are accounted for as an expense on a straight-line basis over the lease term. Refer to Note 29 Leases for further information.",
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"f1__s7__6__41": {
"value": "6 Other incomeAccounting policyRevenue from activities outside normal operations is reported in other income. This includes items such as government grants, insurance compensations, rental income and capital gains on disposal of non-current assets.2025 2024Government grants 20 19Insurance compensations 27 11Rental income 21 7Settlements 41 4Capital gains on disposal of non-current assets 5 3Other 11 11IS Other income 125 54Government grants relate mainly to innovation subsidies, and grants to shipping operations, which are entitled to apply for certain grants based on Finnish legislation.",
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"value": "6 Other incomeAccounting policyRevenue from activities outside normal operations is reported in other income. This includes items such as government grants, insurance compensations, rental income and capital gains on disposal of non-current assets.2025 2024Government grants 20 19Insurance compensations 27 11Rental income 21 7Settlements 41 4Capital gains on disposal of non-current assets 5 3Other 11 11IS Other income 125 54Government grants relate mainly to innovation subsidies, and grants to shipping operations, which are entitled to apply for certain grants based on Finnish legislation.9 Other expenses2025 2024Repairs and maintenance 216 210Services 294 328Rents and other property costs 52 49Insurances 36 50Other 154 69IS Other expenses 753 706Services include planning and consulting services, IT services, information services, research and lab services and other services.Rents and other property costs include EUR 16 million (2024: EUR 13 million) of expenses related to lease contracts which are accounted for as an expense on a straight-line basis over the lease term. Refer to Note 29 Leases for further information.Other expenses include travel, health, safety, environmental, and marketing costs, as well as credit losses.Research expenditure is recognized as an expense as incurred and included in other expenses in the consolidated statement of income.Fees charged by the statutory auditor 2025 2024Authorized Public Accountants KPMG KPMGAudit fees 1.7 1.8Sustainability reporting assurance 0.2 0.1Tax advisory 0.2 0.6Other advisory services 0.2 0.22.4 2.8KPMG Oy Ab\u2019s fees included 738 thousand euros (2024: 791 thousand euros) for audit and 37 (41) thousand euros for auditor\u2019s statements. Fees for sustainability reporting assurance, which were previously included in \u2018Auditor\u2019s statements\u2019, are now disclosed separately. Fees for the sustainability reporting assurance were 181 (119) thousand euros. Non-audit services to entities of Neste Group were 400 thousand euros (2024: 737 thousand euros) in total during the financial year 2025. These services included 209 (559) thousand euros tax advisory and 191 (178) thousand euros of other advisory services.",
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"value": "Government grants relate mainly to innovation subsidies, and grants to shipping operations, which are entitled to apply for certain grants based on Finnish legislation.",
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"value": "8 Employee benefit costs2025 2024Wages and salaries 487 500Social security costs 29 28Share-based payments 5 5Pension costs \u2013 defined contribution plans 60 62Pension costs \u2013 defined benefit plans 2 2Wages and salaries capitalized in fixed assets -13 -33Other costs 15 18IS Employee benefit costs 584 582Wages, salaries and other compensation for key management are presented in Note 25 Related party transactions. Share-based payments are described in Note 24 Share-based payments and defined benefit plans in Note 23 Employee benefit obligations.Number of personnel (average) 2025 2024Renewable Products 1,894 2,046Oil Products 1,350 1,301Marketing & Services 424 424Others 1,546 2,0255,214 5,79623 Employee benefit obligationsAccounting policyNeste has pension arrangements in different countries, which are generally funded through insurance companies. Pension cover is based on the legislation and agreement in force in each country. Pension schemes consist of both defined contribution plans and defined benefit plans. Finnish statutory pensions are accounted for as a defined contribution plan in the consolidated financial statements.Contributions to the defined contribution plans are charged directly to the consolidated statement of income in the year to which these contributions relate. In defined contribution plans, Neste has no legal or contractive obligations to pay further contributions in case the payment recipient is unable to pay the retirement benefits. All arrangements that do not fulfill these conditions are considered defined benefit plans. In defined benefit plans, after Neste has paid the amount for the period, an excess or deficit may result. The defined benefit obligation represents the present value of future cash flows from payable benefits, which are calculated for by using the projected unit credit method. The discount rate assumed in calculating the present value of the pension obligation is based on the market yield of high-quality corporate bonds (AA-rated) with appropriate maturities. Pension costs are recognized in the consolidated statement of income so as to spread the current service cost over the service lives of employees based on external calculations. The net interest is included as part of the finance cost in the consolidated statement of income. The liability (or asset) recognized in the consolidated statement of financial position is the pension obligation at the closing date less the fair value of plan assets. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Actuarial valuations for Neste\u2019s defined benefit pension plans are performed annually.Estimates and judgements requiring management estimationAccounting for defined benefit obligations and other long-term employee benefits requires the selection of actuarial assumptions and the use of significant estimates. Based on these, actuaries calculate Neste\u2019s expenses and liabilities. The assumptions that are the most significant to the amounts reported are the discount rate, the rate of salary increase and future benefit increase. Changes in these assumptions could result in significant changes to the carrying amount of Neste\u2019s pension liability and future pension expenses. Possible effects of the changes are presented in the sentivity analysis of significant actuarial assumptions.Neste has defined benefit pension plans in Finland, Switzerland and the Netherlands. The largest plans are in Finland, which account for 94% (2024: 94%) of Neste\u2019s total defined benefit pension obligation and 93% (2024: 94%) of Neste\u2019s total plan assets. The voluntary pension plan in Finland accounting for most of this has been closed since 1 January 1994. The insured supplementary pension scheme consists of defined benefit group pension insurances, which are very similar in structure, with the exception of retirement age and pension accrual rules. Other long-term employee benefits are long-service remunerations, which are accounted for as an unfunded defined benefit plan in accordance to IAS 19.Characteristics of the post-employment defined benefit plans in FinlandIn Finland, Neste has a voluntary pension plan for a certain group of employees to fulfill an aggregated benefit after retirement. The voluntary pension plan is managed in an insurance company.The voluntary plan\u2019s benefit is based on the aggregated benefits determined by the insurance contract. The voluntary benefit is the difference between aggregated benefits and compulsory benefits calculated at the age 63 in the old age plan. The aggregated benefits are at most 60% or 66% of the supplementary pension salary depending on the plan. The supplementary pension salary is calculated based on the last 10 years\u2019 salaries prior to the pension event adjusted by the index level. The benefits in the plans are old age and disability pensions, survivors\u2019 pensions for widows and children, and funeral grants. Old-age pension ages are 60, 62 and 65 years. In some pension schemes the pension cover also includes the right to early old-age pension retirement ages. The insurance company collects premiums on a yearly basis from the employer. The future premiums are adjusted so that the old-age pension will be fully funded until retirement. The disability and survivor\u2019s pension are also financed by risk premiums collected during the employment period. The premiums with fixed discount rate 1.5% are based on the last known salary without any assumptions on future salary increases. The insurance company guarantees the same interest yield to the assets in the plan, as the one they have used in calculating the premiums.The employer finances the index-linkage by paying an additional premium covering the index increase during the year. Discretionary bonuses from the insurance company will lower the index premium. The insurance company decides the amount of the bonus annually. Neste has insured the benefits index increases each year as the benefits have been increased. If the insurance company\u2019s granted bonus index does not cover the annual index increase, the insurance company collects a premium from the employer to cover the increase. The insurance company\u2019s bonus index varies on yearly basis.Risks associated with defined benefit plans Through its defined benefit pension plans Neste is exposed to a number of risks. The employer\u00b4s defined benefit obligations pension liability depends on the discount rate which is determined to a yield of corporate bonds as at the reporting date. A decrease in used discount rates increase the defined benefits obligations. However, a decrease in the used discount rate yield also increases the fair value of the assets partially offsetting the total impact of change in yield on the net defined benefit pension liability.The benefit of the plans is tied to the future benefit increase, which depends on inflation and common salary index. Higher inflation increases the benefit increase, which leads to an increase in liabilities and annual payments to the insurance company.If the active employee\u2019s salary increases more than the common salary index, the amount of promised benefit and the benefit obligation increases together with annual payments to life insurance company.The longevity risk is borne by the insurance company in case the actual mortality differs from the assumed. Possible adjustments in mortality assumption have an effect on the employer\u2019s liability according to IFRS. The insurance company completely bears the mortality risk on accrued benefits. The employers have a mortality risk only if the insurance company will raise its future benefit accruals premiums because of mortality adjustment. Defined benefit plansCost of defined benefit plans 2025 2024Service cost 2 2Net interest (+expense/-income) 2 3Defined benefit cost recognized in the consolidated statement of income 4 5Remeasurements of defined benefit plans 2025 2024Actuarial gains/lossesChanges in demographic assumptions 0 0Changes in financial assumptions 16 -9Return on plan assets, excluding amounts included in net interest expense -13 13Experience adjustments 0 2Total remeasurements recognized in other comprehensive income 4 6Net defined benefit liability recognized in the consolidated statement of financial position 2025 2024Present value of funded defined benefit obligations 318 346Present value of unfunded defined benefit obligations 5 7Fair value of plan assets -257 -280BS Net defined benefit liability 65 73Changes in fair value of plan assets 2025 2024January 1 280 268Interest income 8 9Return on plan assets (excluding amounts included in net interest expense) -13 13Employer contributions 8 19Settlements 0 -1Benefits paid -25 -29December 31 257 280The assets are the responsibility of the insurance company and a part of the insurance company\u2019s investment assets. The distribution within categories is not possible to provide. 2025 2024Changes in the present value of the defined benefit obligationFunded Unfunded Funded UnfundedJanuary 1 346 7 354 7Current service cost 2 0 2 0Interest cost 10 0 12 0Actuarial gains (-)/ losses (+) -17 -1 8 0Settlements 0 0 -1 0Benefits paid -24 -1 -28 -1December 31 318 5 346 7The expected contributions to be paid to the defined benefit plans in 2026 are EUR 6 million.Significant actuarial assumptions (presented as weighted average) 2025 2024Discount rate, %Finland 3.70% 3.10%Other countries 1.19% 0.91%Future salary increase, %Finland 3.15% 3.05%Other countries 1.10% 1.11%Future benefit increase, %Finland 2.20% 2.10%Other countries 0.00% 0.00%Sensitivity analysis of significant actuarial assumptionsReasonably possible changes at the reporting date to one of the weighted principal assumptions, while holding all other assumptions constant, would have affected the defined benefit obligation as shown below:Impact on the defined benefit pension obligationAssumptions Change in assumption 2025 2024Discount rate0.50% increase EUR million -16 -190.50% decrease EUR million 18 21Future salary increase0.50% increase EUR million 1 10.50% decrease EUR million -1 -1Future benefit increase0.50% increase EUR million 15 170.50% decrease EUR million -13 -16- 0.50% increase /decrease in the discount rate would lead to a decrease /increase of 5.1% /5.6% in the defined benefit obligation.- 0.50% increase /decrease in the rate of salary increase would lead to a increase /decrease of 0.2% /0.3% in the defined benefit obligation.- 0.50% increase /decrease in the rate of pension index would lead to a increase /decrease of 4.5% /4.2% in the defined benefit obligation.The above sensitivity analysis may not be representative of the actual impact of change. If more than one assumption is changed simultaneously, the combined impact of changes would not necessarily be the same as the sum of the individual change. If the assumptions change to a different level compared to that presented above, the effect on the defined benefit obligation may not be linear.Maturity profile of the undiscounted defined benefit obligation 2025Within the next 12 months 24Between 1 and 5 years 88Between 5 and 10 years 96Beyond 10 years 299Total 507The average duration of the defined benefit pension obligation at the end of the reporting period is 11 years.Board of Directors and key management compensationEUR thousand 2025 2024Salaries and other short-term employee benefits 3,541 5,370Termination benefits 0 2,657Statutory pensions 438 685Supplementary pensions 676 582Share-based payments 1,420 414Total 6,075 9,709Key management consists of President and CEO and other members of the Neste Leadership Team. There were no outstanding loan receivables from key management on 31 December 2025 or 31 December 2024.Compensation to President and CEO and members of the Neste Leadership TeamMembers of the President President Neste Leadership and CEOand CEO 1)TeamHeikkiMatti TotalEUR thousand2025MalinenLehmus2024 20252024Annual remunerationBase salary 1,189 245 743 987 1,340 1,974Taxable benefits 11 3 12 15 30 77Annual incentive (STI plan) 11 0 501 501 43 897Total annual remuneration 1,212 248 1,256 1,504 1,413 2,948Termination benefits 0 0 1,365 1,365 0 1,292Vested long term remunerationSupplementary pension (insurance contributions) 252 51 119 170 424 412Share-based incentive plan 1,376 0 15 15 45 399Total remuneration 2,839 299 2,755 3,054 1,882 5,0521) Includes the Neste Executive Committee (active until Oct 28, 2024) and the new Neste Leadership TeamCompensation to the Board of DirectorsEUR thousand 2025 2024Board of Directors at 31 December 2025Pasi Laine, since 27 March 2024 190 79John Abbott 111 93Nick Elmslie 104 95Anna Hyv\u00f6nen, since 25 March 2025 91 0Just Jansz 98 89Essimari Kairisto, since 25 March 2025 110 0Conrad Keijzer, since 27 March 2024 101 85Sari Mannonen, since 27 March 2024 99 83Former Board membersMatti K\u00e4hk\u00f6nen, until 25 March 2025 3 158Heikki Malinen, until 13 June 2024 0 29Eeva Sipil\u00e4, until 13 February 2025 4 102Johanna S\u00f6derstr\u00f6m, until 25 March 2025 6 101Kimmo Viertola, until 27 March 2024 0 4Board of Directors, all members total 917 918Compensation to the Board of Directors include annual remuneration and meeting fee paid to each member of the Board for each meeting attended as well as for any meetings of the Board committees attended. Board members are not covered by the company\u2019s remuneration systems and do not receive any performance or share related payments.The CEO\u2019s notice of termination period is 6 months on both sides. Should the company decide to give notice of termination, the President & CEO shall be entitled to his salary during the 6 months period of notice, together with a severance payment equivalent to 6 months\u2019 salary. The supplementary pension of the President and CEO is a defined contribution (DC) plan with an annual contribution of 20% of the fixed annual salary and a retirement age of 66 years.Net liability of defined benefit plans of former Presidents and CEOs on 31 December 2025 were EUR 859 thousand (2024: EUR 978 thousand).",
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"value": "9 Other expenses2025 2024Repairs and maintenance 216 210Services 294 328Rents and other property costs 52 49Insurances 36 50Other 154 69IS Other expenses 753 706Services include planning and consulting services, IT services, information services, research and lab services and other services.Rents and other property costs include EUR 16 million (2024: EUR 13 million) of expenses related to lease contracts which are accounted for as an expense on a straight-line basis over the lease term. Refer to Note 29 Leases for further information.Other expenses include travel, health, safety, environmental, and marketing costs, as well as credit losses.Research expenditure is recognized as an expense as incurred and included in other expenses in the consolidated statement of income.Fees charged by the statutory auditor 2025 2024Authorized Public Accountants KPMG KPMGAudit fees 1.7 1.8Sustainability reporting assurance 0.2 0.1Tax advisory 0.2 0.6Other advisory services 0.2 0.22.4 2.8KPMG Oy Ab\u2019s fees included 738 thousand euros (2024: 791 thousand euros) for audit and 37 (41) thousand euros for auditor\u2019s statements. Fees for sustainability reporting assurance, which were previously included in \u2018Auditor\u2019s statements\u2019, are now disclosed separately. Fees for the sustainability reporting assurance were 181 (119) thousand euros. Non-audit services to entities of Neste Group were 400 thousand euros (2024: 737 thousand euros) in total during the financial year 2025. These services included 209 (559) thousand euros tax advisory and 191 (178) thousand euros of other advisory services.",
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"f1__s7__6__44": {
"value": "Fees charged by the statutory auditor 2025 2024Authorized Public Accountants KPMG KPMGAudit fees 1.7 1.8Sustainability reporting assurance 0.2 0.1Tax advisory 0.2 0.6Other advisory services 0.2 0.22.4 2.8KPMG Oy Ab\u2019s fees included 738 thousand euros (2024: 791 thousand euros) for audit and 37 (41) thousand euros for auditor\u2019s statements. Fees for sustainability reporting assurance, which were previously included in \u2018Auditor\u2019s statements\u2019, are now disclosed separately. Fees for the sustainability reporting assurance were 181 (119) thousand euros. Non-audit services to entities of Neste Group were 400 thousand euros (2024: 737 thousand euros) in total during the financial year 2025. These services included 209 (559) thousand euros tax advisory and 191 (178) thousand euros of other advisory services.",
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"f1__s7__6__47": {
"value": "Number of personnel (average) 2025 2024Renewable Products 1,894 2,046Oil Products 1,350 1,301Marketing & Services 424 424Others 1,546 2,0255,214 5,796",
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"value": "10 Financial income and expenses2025 2024Financial incomeIncome from financial assets at fair value through profit or loss 0 0Interest income from financial assets at amortized cost 26 4727 47Financial expensesInterest expensesFinancial liabilities measured at amortized cost -96 -87Lease liabilities -55 -60Write-downs of loan receivables -50 0Other financial expenses -5 -9-205 -156Exchange rate and fair value gains and lossesExchange rate differences from financial instruments at amortized cost -90 26Fair value changes of foreign exchange derivatives through profit or loss (non-hedge accounted) 89 -62 1)Fair value changes of precious metal loans through profit or loss-124 7-125 -29IS, CF Total financial income and expenses -304 -1381) Includes the price and exchange rate changes of loan agreements for precious metals used in catalysts.Net gains/losses on financial instruments included in operating profit and fixed assets 2025 2024Foreign exchange derivatives, hedge accountedIncluded in revenue 81 -23Foreign exchange derivatives, non-hedge accounted Included in materials and services -35 -2Commodity derivatives, non-hedge accountedIncluded in materials and services 28 473 -21",
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"f1__s7__6__49": {
"value": "10 Financial income and expenses2025 2024Financial incomeIncome from financial assets at fair value through profit or loss 0 0Interest income from financial assets at amortized cost 26 4727 47Financial expensesInterest expensesFinancial liabilities measured at amortized cost -96 -87Lease liabilities -55 -60Write-downs of loan receivables -50 0Other financial expenses -5 -9-205 -156Exchange rate and fair value gains and lossesExchange rate differences from financial instruments at amortized cost -90 26Fair value changes of foreign exchange derivatives through profit or loss (non-hedge accounted) 89 -62 1)Fair value changes of precious metal loans through profit or loss-124 7-125 -29IS, CF Total financial income and expenses -304 -1381) Includes the price and exchange rate changes of loan agreements for precious metals used in catalysts.Net gains/losses on financial instruments included in operating profit and fixed assets 2025 2024Foreign exchange derivatives, hedge accountedIncluded in revenue 81 -23Foreign exchange derivatives, non-hedge accounted Included in materials and services -35 -2Commodity derivatives, non-hedge accountedIncluded in materials and services 28 473 -21",
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"value": "10 Financial income and expenses2025 2024Financial incomeIncome from financial assets at fair value through profit or loss 0 0Interest income from financial assets at amortized cost 26 4727 47Financial expensesInterest expensesFinancial liabilities measured at amortized cost -96 -87Lease liabilities -55 -60Write-downs of loan receivables -50 0Other financial expenses -5 -9-205 -156Exchange rate and fair value gains and lossesExchange rate differences from financial instruments at amortized cost -90 26Fair value changes of foreign exchange derivatives through profit or loss (non-hedge accounted) 89 -62 1)Fair value changes of precious metal loans through profit or loss-124 7-125 -29IS, CF Total financial income and expenses -304 -1381) Includes the price and exchange rate changes of loan agreements for precious metals used in catalysts.Net gains/losses on financial instruments included in operating profit and fixed assets 2025 2024Foreign exchange derivatives, hedge accountedIncluded in revenue 81 -23Foreign exchange derivatives, non-hedge accounted Included in materials and services -35 -2Commodity derivatives, non-hedge accountedIncluded in materials and services 28 473 -21",
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"value": "11 Income taxesAccounting policyNeste\u2019s income tax expenses include taxes of group companies calculated on the basis of the taxable profit for the period, adjustments for previous periods taxes, as well as the change in deferred income taxes. In respect of the deferred tax liability on undistributed foreign earnings, the amount recorded is based on expected circumstances and management\u2019s expectations regarding the profit distribution. For items recognized directly in equity or other comprehensive income, the income tax effect is similarly recognized.If adjustments regarding uncertain tax positions (IFRIC 23) are made in situations where it is not likely that the tax authority and/or the court would accept a certain tax treatment, Neste will choose a method of recording the liability that best describes the realization of the uncertainty.Deferred income taxes are stated using the balance sheet liability method, to reflect the net tax effect of temporary differences between the financial reporting and tax bases of assets and liabilities. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is determined using tax rates that are in force on the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax balances are not discounted.Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income taxes relate to the same fiscal authority. Deferred tax assets are recognized for tax loss carryforwards and other unused tax credits to the extent that the utilization of the related tax benefit through future taxable profits is probable.Neste has determined that the global minimum top-up tax, which it is required to pay under Pillar Two legislation, is an income tax in the scope of IAS 12 and accounts for it as a current tax when it is incurred. Neste applies the IAS 12 exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes.Estimates and judgements requiring management estimationIncome tax liabilities and assets are recognized based on the amounts management expects to pay or recover.Neste has deferred tax assets and liabilities which are expected to be realized through the consolidated statement of income over extended periods of time in the future. Neste management has made certain assumptions regarding future tax consequences and used certain estimates when calculating differences between carrying amounts of assets and liabilities and their tax bases. Key assumptions underlying tax calculations include e.g. likelihood that recoverability periods for tax loss carryforwards will not change, and that existing tax laws and rates remain unchanged into the foreseeable future. At each balance sheet date, management uses judgment to assess the recoverability of deferred tax assets. When circumstances indicate that it is no longer estimated probable that deferred tax assets can be recovered in the foreseeable future, balances are reduced to their recoverable amounts.The major components of income tax expense 2025 2024Current tax -58 -22Global minimum top-up tax -1 0Adjustments recognized for current tax for prior periods 0 -7Change in deferred taxes 3 48IS Income tax expense -55 19The reconciliation of income taxes to the Finnish corporate tax rate 2025 2024IS Profit before income taxes 199 -113Hypothetical income tax calculated at Finnish tax rate 20% -40 23Differences in tax rates in other countries 26 -17Non-deductible expenses and other permanent differences -11 -1Tax exempt income 25 98Tax on undistributed earnings 0 -1Taxes for prior periods -1 -9Net results of associates and joint ventures 1 -2Realisability of deferred tax assets -56 -77Global minimum top-up tax -1 0Other 0 5IS Income tax expense -55 19Effective tax rate, % 28 17In 2025, the Group\u2019s effective tax rate was primarily increased by the valuation of deferred tax assets. Majority of this EUR -56 million relates to a write-down that was recognized against deferred tax assets related to tax loss carryforwards in the USA, reflecting a revised assessment of their realisability in the foreseeable future. Additionally, the effective tax rate was notably decreased by tax exempt income EUR 25 million, which mainly relates to the US Clean Fuel Production Credit (CFPC), as this credit is treated as tax-exempt income for US federal income tax purposes. Non-deductible expenses included a EUR -10 million tax impact arising from the write-down of a loan receivable. The global minimum tax (Pillar Two) rules are in force in several of the Group\u2019s jurisdictions, including Finland and Singapore. The impact from Pillar Two taxes in the 2025 financial statements amounted to EUR -1 million.In 2024, the Group\u2019s effective tax rate was significantly decreased (EUR 98 million) by the US Blender\u2019s Tax Credit (BTC), as a portion of this credit was treated as tax-exempt income. Similar to 2025, the write-down of deferred tax assets related to tax loss carryforwards in the USA increased the effective tax rate.",
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"f1__s7__6__55": {
"value": "Accounting policyNeste\u2019s income tax expenses include taxes of group companies calculated on the basis of the taxable profit for the period, adjustments for previous periods taxes, as well as the change in deferred income taxes. In respect of the deferred tax liability on undistributed foreign earnings, the amount recorded is based on expected circumstances and management\u2019s expectations regarding the profit distribution. For items recognized directly in equity or other comprehensive income, the income tax effect is similarly recognized.If adjustments regarding uncertain tax positions (IFRIC 23) are made in situations where it is not likely that the tax authority and/or the court would accept a certain tax treatment, Neste will choose a method of recording the liability that best describes the realization of the uncertainty.",
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"value": "Deferred income taxes are stated using the balance sheet liability method, to reflect the net tax effect of temporary differences between the financial reporting and tax bases of assets and liabilities. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is determined using tax rates that are in force on the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax balances are not discounted.Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income taxes relate to the same fiscal authority. Deferred tax assets are recognized for tax loss carryforwards and other unused tax credits to the extent that the utilization of the related tax benefit through future taxable profits is probable.Neste has determined that the global minimum top-up tax, which it is required to pay under Pillar Two legislation, is an income tax in the scope of IAS 12 and accounts for it as a current tax when it is incurred. Neste applies the IAS 12 exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes.",
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},
"f1__s7__6__58": {
"value": "Charged to Charged in Other Exchange rate differences Changes in deferred tax assets and liabilities 2025 On 1 Jan 2025Income Statementcomprehensive incomeand other changes On 31 Dec 2025Tax loss carried forward 407 -7 0 -44 356Provisions 22 4 0 0 27Pensions 15 -1 -1 0 13Fixed assets 230 -10 0 -8 213Derivative financial instruments 13 0 -13 0 0Other temporary differences 42 2 0 -3 42Total deferred tax assets 730 -11 -14 -54 651Netting against liabilities -508 47 0 31 -430BS Deferred tax assets 222 36 -14 -23 221Tax on undistributed earnings 10 2 0 0 12Fixed assets 638 -27 0 -10 601Derivative financial instruments 1 0 2 0 3Investments in joint operations 176 6 0 -21 161Other temporary differences 18 5 0 0 23Total deferred tax liabilities 843 -14 2 -31 800Netting against assets -508 47 0 31 -430BS Deferred tax liabilities 335 33 2 0 370Charged to Charged in Other Exchange rate differences Changes in deferred tax assets and liabilities 2024 On 1 Jan 2024Income Statementcomprehensive incomeand other changes On 31 Dec 2024Tax loss carried forward 280 107 0 21 407Provisions 34 -12 0 0 22Pensions 18 -3 -1 0 15Fixed assets 191 35 0 4 230Derivative financial instruments 2 11 0 0 13Other temporary differences 32 7 2 1 42Total deferred tax assets 557 146 1 26 730Netting against liabilities -431 -61 0 -17 -508BS Deferred tax assets 127 85 1 9 222Tax on undistributed earnings 11 -1 0 0 10Fixed assets 531 102 0 6 638Derivative financial instruments 17 3 -19 0 1Investments in joint operations 181 -16 0 11 176Other temporary differences 8 10 0 0 18Total deferred tax liabilities 747 98 -19 17 843Netting against assets -431 -60 0 -17 -508BS Deferred tax liabilities 317 37 -19 0 335The Group has accumulated tax losses of EUR 1,191 million (2024: EUR 1,143 million) for which no deferred tax asset has been recognized in the statement of financial position. The majority of these losses were generated in the USA, where deferred tax assets have not been fully recognized because the utilization of these losses is not considered probable in the foreseeable future. Under current US tax legislation, these tax losses may be carried forward indefinitely and do not expire.The line item \u2018Investments in joint operations\u2019 includes temporary differences arising from the Group\u2019s interest in the joint operation, Martinez Renewables LLC.The decrease in deferred tax assets and liabilities related to property, plant, and equipment is attributable to the reduction in leases accounted for under IFRS 16. Furthermore, deferred tax liabilities decreased due to the reversal of temporary differences related to tax depreciations.A deferred tax liability has been recognized for undistributed earnings of subsidiaries where income taxes would be payable upon distribution.Deferred tax recognized relating to components of other comprehensive income:2025Tax (charge)Before tax / credit After taxOCI Remeasurements of defined benefit plans 4 -1 3OCI Net change of other investments at fair value -7 0 -7OCI Translation differences -187 0 -187Cash flow hedgesOCI recorded in equity 189 -25 165OCI transferred to income statement -81 9 -72OCI Share of other comprehensive income of investments accounted for using the equity method 0 0 0OCI Other comprehensive income -80 -16 -972024Tax (charge)Before tax / credit After taxOCI Remeasurements of defined benefit plans 6 -1 5OCI Net change of other investments at fair value -19 4 -15OCI Translation differences 100 0 100Cash flow hedgesOCI recorded in equity -163 23 -141OCI transferred to income statement 23 -4 19OCI Share of other comprehensive income of investments accounted for using the equity method -2 0 -2OCI Other comprehensive income -55 21 -34",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__56": {
"value": "Charged to Charged in Other Exchange rate differences Changes in deferred tax assets and liabilities 2025 On 1 Jan 2025Income Statementcomprehensive incomeand other changes On 31 Dec 2025Tax loss carried forward 407 -7 0 -44 356Provisions 22 4 0 0 27Pensions 15 -1 -1 0 13Fixed assets 230 -10 0 -8 213Derivative financial instruments 13 0 -13 0 0Other temporary differences 42 2 0 -3 42Total deferred tax assets 730 -11 -14 -54 651Netting against liabilities -508 47 0 31 -430BS Deferred tax assets 222 36 -14 -23 221Tax on undistributed earnings 10 2 0 0 12Fixed assets 638 -27 0 -10 601Derivative financial instruments 1 0 2 0 3Investments in joint operations 176 6 0 -21 161Other temporary differences 18 5 0 0 23Total deferred tax liabilities 843 -14 2 -31 800Netting against assets -508 47 0 31 -430BS Deferred tax liabilities 335 33 2 0 370Charged to Charged in Other Exchange rate differences Changes in deferred tax assets and liabilities 2024 On 1 Jan 2024Income Statementcomprehensive incomeand other changes On 31 Dec 2024Tax loss carried forward 280 107 0 21 407Provisions 34 -12 0 0 22Pensions 18 -3 -1 0 15Fixed assets 191 35 0 4 230Derivative financial instruments 2 11 0 0 13Other temporary differences 32 7 2 1 42Total deferred tax assets 557 146 1 26 730Netting against liabilities -431 -61 0 -17 -508BS Deferred tax assets 127 85 1 9 222Tax on undistributed earnings 11 -1 0 0 10Fixed assets 531 102 0 6 638Derivative financial instruments 17 3 -19 0 1Investments in joint operations 181 -16 0 11 176Other temporary differences 8 10 0 0 18Total deferred tax liabilities 747 98 -19 17 843Netting against assets -431 -60 0 -17 -508BS Deferred tax liabilities 317 37 -19 0 335The Group has accumulated tax losses of EUR 1,191 million (2024: EUR 1,143 million) for which no deferred tax asset has been recognized in the statement of financial position. The majority of these losses were generated in the USA, where deferred tax assets have not been fully recognized because the utilization of these losses is not considered probable in the foreseeable future. Under current US tax legislation, these tax losses may be carried forward indefinitely and do not expire.The line item \u2018Investments in joint operations\u2019 includes temporary differences arising from the Group\u2019s interest in the joint operation, Martinez Renewables LLC.The decrease in deferred tax assets and liabilities related to property, plant, and equipment is attributable to the reduction in leases accounted for under IFRS 16. Furthermore, deferred tax liabilities decreased due to the reversal of temporary differences related to tax depreciations.A deferred tax liability has been recognized for undistributed earnings of subsidiaries where income taxes would be payable upon distribution.Deferred tax recognized relating to components of other comprehensive income:2025Tax (charge)Before tax / credit After taxOCI Remeasurements of defined benefit plans 4 -1 3OCI Net change of other investments at fair value -7 0 -7OCI Translation differences -187 0 -187Cash flow hedgesOCI recorded in equity 189 -25 165OCI transferred to income statement -81 9 -72OCI Share of other comprehensive income of investments accounted for using the equity method 0 0 0OCI Other comprehensive income -80 -16 -972024Tax (charge)Before tax / credit After taxOCI Remeasurements of defined benefit plans 6 -1 5OCI Net change of other investments at fair value -19 4 -15OCI Translation differences 100 0 100Cash flow hedgesOCI recorded in equity -163 23 -141OCI transferred to income statement 23 -4 19OCI Share of other comprehensive income of investments accounted for using the equity method -2 0 -2OCI Other comprehensive income -55 21 -34",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__63": {
"value": "Earnings per shareBasic earnings per share is calculated by dividing the profit for the period attributable to owners of the parent by the weighted average number of shares outstanding during the year. The dilutive effect of equity settled share-based payments is included in the computation of diluted earnings per share.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__64": {
"value": "Dividend per shareThe dividends paid in 2025 were EUR 0.20 per share, totaling EUR 154 million (2024: EUR 1.20 per share, totaling EUR 922 million). A dividend of EUR 0.20 per share, totaling approximately EUR 154 million, will be proposed at the Annual General Meeting on 25 March 2026. This dividend is not recognized in the financial statements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__65": {
"value": "0.2",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s7__7__65": {
"value": "1.2",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s7__6__66": {
"value": "0.2",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s7__6__67": {
"value": "154000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s7__6__60-1": {
"value": "12 Earnings per share and dividend per shareEarnings per shareBasic earnings per share is calculated by dividing the profit for the period attributable to owners of the parent by the weighted average number of shares outstanding during the year. The dilutive effect of equity settled share-based payments is included in the computation of diluted earnings per share.2025 2024IS Profit for the period attributable to owners of the parent, EUR million 144 -95Weighted average number of shares outstanding during the year (thousands) 768,247 768,212IS Basic earnings per share (euro per share) 0.19 -0.12 1)Effect of share-based incentive plans (thousands)460 289Diluted weighted average number of shares during the year (thousands) 768,707 768,501IS Diluted earnings per share (euro per share) 0.19 -0.121) Effect of share-based incentive plans not taken into account in 2024 as the diluted earnings per share is negative.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__68": {
"value": "13 Goodwill and intangible assetsAccounting policyGoodwillGoodwill represents the excess of the cost of an acquisition over the fair value of Neste\u2019s share of the net identifiable assets of the acquired business, subsidiary, joint operation, associate or joint venture at the date of acquisition. Separately recognized goodwill is tested for impairment and carried at cost, less accumulated impairment losses. Impairment testing is done annually and whenever there is an indication that the asset may be impaired. Impairment losses on goodwill are not reversed. Goodwill is allocated to cash-generating units for the purpose of impairment testing, using those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.The discount rates used in impairment testing of goodwill represent the WACC specified for the business area in question after tax. The WACC formula inputs are risk-free rate of return, market risk premium, industry-specific beta factor, target capital structure, borrowing cost and country risks. The WACC rate is specified separately for the cash-generating unit. WACC-% and growth rate are used purely for the impairment testing. Intangible assetsIntangible assets are stated at historical cost and amortized in a straight-line method over expected useful lives. Intangible assets comprise the following:Computer softwareComputer software licenses are capitalized on the basis of the costs incurred to acquire and introduce the software in question. The costs include the software development employee costs and professional fees arising directly from bringing the asset to its working condition. Capitalization also depends on the technology used, e.g., cloud services are not capitalized. Costs are amortized over their estimated useful lives (three to five years). Costs associated with updates or maintaining computer software programs are recognized as an expense when they occur.Trademarks and licensesTrademarks and licenses have a definite useful life and are carried at cost less accumulated amortization. They are amortized over their estimated useful lives (three to ten years).Emission allowancesEmission allowances, which are purchased to cover periods deficit, are recorded in intangible assets and measured at cost, and emission allowances received free of charge are recorded in their nominal value, i.e., at zero.A provision is recognized to cover the obligation to buy emission allowances if emission allowances received free of charge and purchased emission allowances intended to cover the deficit do not cover actual emissions. The provision is measured at its probable settlement amount. The difference between emissions generated and emission allowances received, as well as any change in the probable amount of the provision, are reflected in the operating profit.Impairment of non-financial assetsIntangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized in the consolidated statement of income to the extent that the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. Non-financial assets other than goodwill are reviewed for possible reversal of impairment recognised in prior periods at each reporting date. Estimates and judgements requiring management estimationIntangible assets as well as property, plant and equipment are always tested for impairment, when there is any indication that an asset may be impaired. When the recoverable amount of an asset is less than the carrying amount, an impairment loss is recognized as an expense immediately and the carrying amount is reduced to the asset\u2019s recoverable amount. Neste\u2019s management applies judgement in determining the depreciation methods and useful lives of assets. The useful lives are reviewed annually and when there is indication that an asset may be impaired.Management has used judgement in determining Renewables Products as one of the cash-generating units and in choosing to determine the amounts recoverable from cash-generating units\u2019 operating activities based on value in use calculations. These calculations are based on estimated future cash flows in financial plans approved by Neste\u2019s management, covering a period of six years. Preparation of these estimates requires management to make assumptions relating to future expectations. The main assumptions are considered to be the sales margin and discount rate. Expectations are based on Neste\u2019s analysis which also considers publicly available information, e.g. regulations, to estimate industry\u2019s and Neste\u2019s business growth and changes in supply, demand and pricing. The climate-related assumptions are included in the estimation of future cash flows which require making assumptions of the demand development and regulation changes affecting Renewable Products. These affect the assumptions of sales margins and nominal growth rate of the Renewable Products industry. Intangible 2025 Goodwillassets TotalGross carrying amount on 1 January 516 559 1,075Exchange rate differences -36 -1 -37CF Additions 0 12 12Disposals 0 -9 -9Reclassifications 0 5 5Gross carrying amount on 31 December 480 566 1,046Accumulated amortization and impairment losses on 1 January 2 395 396Exchange rate differences 0 -2 -2Disposals 0 -5 -5Amortization and impairments for the period 0 48 48Accumulated amortization and impairment losses on 31 December 2 436 437BS Carrying amount on 1 January 2025 514 164 678BS Carrying amount on 31 December 2025 478 130 608 Intangible 2024 Goodwillassets TotalGross carrying amount on 1 January 498 537 1,035Exchange rate differences 19 4 23CF Additions 0 27 27Disposals 0 -10 -10Gross carrying amount on 31 December 516 559 1,075Accumulated amortization and impairment losses on 1 January 2 352 354Exchange rate differences 0 1 1Disposals 0 -10 -10Amortization and impairments for the period 0 51 51Accumulated amortization and impairment losses on 31 December 2 395 396BS Carrying amount on 1 January 2024 496 185 681BS Carrying amount on 31 December 2024 514 164 678Impairment test of goodwillGoodwill is allocated to Neste\u2019s Renewable Products cash-generating unit (CGU), which is equal with the Renewable Products segment. In 2025 impairment testing, the recoverable amount of Renewables Products cash-generating unit was higher than the carrying amount. The impairment testings of 2025 and 2024 did not indicate need for an impairment. A segment-level summary of the goodwill allocation is presented below:2025 2024Renewable Products 478 514BS Goodwill 478 514WACC% 11.5 10.8Based on the sensitivity analysis, a decrease of 20% (2024: 20%) in sales margin or 2.4%-points (2024: 2.9%) increase in the discount rate would not create a situation in which the carrying amounts of the cash-generating units would exceed their recoverable amounts. Cash flows beyond the six year period are extrapolated by using 2.0% (2024: 2.0%) nominal growth rate. The post-tax WACC is 9.8% (2024: 9.4%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__69": {
"value": "Accounting policyGoodwillGoodwill represents the excess of the cost of an acquisition over the fair value of Neste\u2019s share of the net identifiable assets of the acquired business, subsidiary, joint operation, associate or joint venture at the date of acquisition. Separately recognized goodwill is tested for impairment and carried at cost, less accumulated impairment losses. Impairment testing is done annually and whenever there is an indication that the asset may be impaired. Impairment losses on goodwill are not reversed. Goodwill is allocated to cash-generating units for the purpose of impairment testing, using those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.The discount rates used in impairment testing of goodwill represent the WACC specified for the business area in question after tax. The WACC formula inputs are risk-free rate of return, market risk premium, industry-specific beta factor, target capital structure, borrowing cost and country risks. The WACC rate is specified separately for the cash-generating unit. WACC-% and growth rate are used purely for the impairment testing. Intangible assetsIntangible assets are stated at historical cost and amortized in a straight-line method over expected useful lives. Intangible assets comprise the following:Computer softwareComputer software licenses are capitalized on the basis of the costs incurred to acquire and introduce the software in question. The costs include the software development employee costs and professional fees arising directly from bringing the asset to its working condition. Capitalization also depends on the technology used, e.g., cloud services are not capitalized. Costs are amortized over their estimated useful lives (three to five years). Costs associated with updates or maintaining computer software programs are recognized as an expense when they occur.Trademarks and licensesTrademarks and licenses have a definite useful life and are carried at cost less accumulated amortization. They are amortized over their estimated useful lives (three to ten years).Emission allowancesEmission allowances, which are purchased to cover periods deficit, are recorded in intangible assets and measured at cost, and emission allowances received free of charge are recorded in their nominal value, i.e., at zero.A provision is recognized to cover the obligation to buy emission allowances if emission allowances received free of charge and purchased emission allowances intended to cover the deficit do not cover actual emissions. The provision is measured at its probable settlement amount. The difference between emissions generated and emission allowances received, as well as any change in the probable amount of the provision, are reflected in the operating profit.Impairment of non-financial assetsIntangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized in the consolidated statement of income to the extent that the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. Non-financial assets other than goodwill are reviewed for possible reversal of impairment recognised in prior periods at each reporting date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__79-1": {
"value": "GoodwillGoodwill represents the excess of the cost of an acquisition over the fair value of Neste\u2019s share of the net identifiable assets of the acquired business, subsidiary, joint operation, associate or joint venture at the date of acquisition. Separately recognized goodwill is tested for impairment and carried at cost, less accumulated impairment losses. Impairment testing is done annually and whenever there is an indication that the asset may be impaired. Impairment losses on goodwill are not reversed. Goodwill is allocated to cash-generating units for the purpose of impairment testing, using those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.The discount rates used in impairment testing of goodwill represent the WACC specified for the business area in question after tax. The WACC formula inputs are risk-free rate of return, market risk premium, industry-specific beta factor, target capital structure, borrowing cost and country risks. The WACC rate is specified separately for the cash-generating unit. WACC-% and growth rate are used purely for the impairment testing. Intangible 2025 Goodwillassets TotalGross carrying amount on 1 January 516 559 1,075Exchange rate differences -36 -1 -37CF Additions 0 12 12Disposals 0 -9 -9Reclassifications 0 5 5Gross carrying amount on 31 December 480 566 1,046Accumulated amortization and impairment losses on 1 January 2 395 396Exchange rate differences 0 -2 -2Disposals 0 -5 -5Amortization and impairments for the period 0 48 48Accumulated amortization and impairment losses on 31 December 2 436 437BS Carrying amount on 1 January 2025 514 164 678BS Carrying amount on 31 December 2025 478 130 608 Intangible 2024 Goodwillassets TotalGross carrying amount on 1 January 498 537 1,035Exchange rate differences 19 4 23CF Additions 0 27 27Disposals 0 -10 -10Gross carrying amount on 31 December 516 559 1,075Accumulated amortization and impairment losses on 1 January 2 352 354Exchange rate differences 0 1 1Disposals 0 -10 -10Amortization and impairments for the period 0 51 51Accumulated amortization and impairment losses on 31 December 2 395 396BS Carrying amount on 1 January 2024 496 185 681BS Carrying amount on 31 December 2024 514 164 678Impairment test of goodwillGoodwill is allocated to Neste\u2019s Renewable Products cash-generating unit (CGU), which is equal with the Renewable Products segment. In 2025 impairment testing, the recoverable amount of Renewables Products cash-generating unit was higher than the carrying amount. The impairment testings of 2025 and 2024 did not indicate need for an impairment. A segment-level summary of the goodwill allocation is presented below:2025 2024Renewable Products 478 514BS Goodwill 478 514WACC% 11.5 10.8Based on the sensitivity analysis, a decrease of 20% (2024: 20%) in sales margin or 2.4%-points (2024: 2.9%) increase in the discount rate would not create a situation in which the carrying amounts of the cash-generating units would exceed their recoverable amounts. Cash flows beyond the six year period are extrapolated by using 2.0% (2024: 2.0%) nominal growth rate. The post-tax WACC is 9.8% (2024: 9.4%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__70": {
"value": "GoodwillGoodwill represents the excess of the cost of an acquisition over the fair value of Neste\u2019s share of the net identifiable assets of the acquired business, subsidiary, joint operation, associate or joint venture at the date of acquisition. Separately recognized goodwill is tested for impairment and carried at cost, less accumulated impairment losses. Impairment testing is done annually and whenever there is an indication that the asset may be impaired. Impairment losses on goodwill are not reversed. Goodwill is allocated to cash-generating units for the purpose of impairment testing, using those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.The discount rates used in impairment testing of goodwill represent the WACC specified for the business area in question after tax. The WACC formula inputs are risk-free rate of return, market risk premium, industry-specific beta factor, target capital structure, borrowing cost and country risks. The WACC rate is specified separately for the cash-generating unit. WACC-% and growth rate are used purely for the impairment testing.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__74-1": {
"value": "Intangible assetsIntangible assets are stated at historical cost and amortized in a straight-line method over expected useful lives. Intangible assets comprise the following:Computer softwareComputer software licenses are capitalized on the basis of the costs incurred to acquire and introduce the software in question. The costs include the software development employee costs and professional fees arising directly from bringing the asset to its working condition. Capitalization also depends on the technology used, e.g., cloud services are not capitalized. Costs are amortized over their estimated useful lives (three to five years). Costs associated with updates or maintaining computer software programs are recognized as an expense when they occur.Trademarks and licensesTrademarks and licenses have a definite useful life and are carried at cost less accumulated amortization. They are amortized over their estimated useful lives (three to ten years).Emission allowancesEmission allowances, which are purchased to cover periods deficit, are recorded in intangible assets and measured at cost, and emission allowances received free of charge are recorded in their nominal value, i.e., at zero.A provision is recognized to cover the obligation to buy emission allowances if emission allowances received free of charge and purchased emission allowances intended to cover the deficit do not cover actual emissions. The provision is measured at its probable settlement amount. The difference between emissions generated and emission allowances received, as well as any change in the probable amount of the provision, are reflected in the operating profit.Impairment of non-financial assetsIntangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized in the consolidated statement of income to the extent that the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. Non-financial assets other than goodwill are reviewed for possible reversal of impairment recognised in prior periods at each reporting date.Estimates and judgements requiring management estimationIntangible assets as well as property, plant and equipment are always tested for impairment, when there is any indication that an asset may be impaired. When the recoverable amount of an asset is less than the carrying amount, an impairment loss is recognized as an expense immediately and the carrying amount is reduced to the asset\u2019s recoverable amount. Neste\u2019s management applies judgement in determining the depreciation methods and useful lives of assets. The useful lives are reviewed annually and when there is indication that an asset may be impaired.Management has used judgement in determining Renewables Products as one of the cash-generating units and in choosing to determine the amounts recoverable from cash-generating units\u2019 operating activities based on value in use calculations. These calculations are based on estimated future cash flows in financial plans approved by Neste\u2019s management, covering a period of six years. Preparation of these estimates requires management to make assumptions relating to future expectations. The main assumptions are considered to be the sales margin and discount rate. Expectations are based on Neste\u2019s analysis which also considers publicly available information, e.g. regulations, to estimate industry\u2019s and Neste\u2019s business growth and changes in supply, demand and pricing. The climate-related assumptions are included in the estimation of future cash flows which require making assumptions of the demand development and regulation changes affecting Renewable Products. These affect the assumptions of sales margins and nominal growth rate of the Renewable Products industry. Intangible 2025 Goodwillassets TotalGross carrying amount on 1 January 516 559 1,075Exchange rate differences -36 -1 -37CF Additions 0 12 12Disposals 0 -9 -9Reclassifications 0 5 5Gross carrying amount on 31 December 480 566 1,046Accumulated amortization and impairment losses on 1 January 2 395 396Exchange rate differences 0 -2 -2Disposals 0 -5 -5Amortization and impairments for the period 0 48 48Accumulated amortization and impairment losses on 31 December 2 436 437BS Carrying amount on 1 January 2025 514 164 678BS Carrying amount on 31 December 2025 478 130 608 Intangible 2024 Goodwillassets TotalGross carrying amount on 1 January 498 537 1,035Exchange rate differences 19 4 23CF Additions 0 27 27Disposals 0 -10 -10Gross carrying amount on 31 December 516 559 1,075Accumulated amortization and impairment losses on 1 January 2 352 354Exchange rate differences 0 1 1Disposals 0 -10 -10Amortization and impairments for the period 0 51 51Accumulated amortization and impairment losses on 31 December 2 395 396BS Carrying amount on 1 January 2024 496 185 681BS Carrying amount on 31 December 2024 514 164 678",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__71-1": {
"value": "Emission allowancesEmission allowances, which are purchased to cover periods deficit, are recorded in intangible assets and measured at cost, and emission allowances received free of charge are recorded in their nominal value, i.e., at zero.A provision is recognized to cover the obligation to buy emission allowances if emission allowances received free of charge and purchased emission allowances intended to cover the deficit do not cover actual emissions. The provision is measured at its probable settlement amount. The difference between emissions generated and emission allowances received, as well as any change in the probable amount of the provision, are reflected in the operating profit.Emission allowances Neste Finland Refinery in Porvoo and Neste Shipping operations fall within the scope of the European Union\u2019s greenhouse gas emission trading system. Neste is granted a total of 2.0 million tons emission allowances for 2025. In addition to own operations, Neste purchases allowances to cover certain emissions of the local partners who provide utility services to Neste. A provision is recognized for the cost of purchasing additional emission allowances if the actual emissions exceed the total of those received for free and those already purchased. Emission allowances, which are purchased to cover future periods deficit are accounted for as intangible assets and measured at cost, and emission allowances received free of charge are accounted for at nominal value, i.e. at zero. As at 31 December 2025 estimated obligation to purchase emission allowances amounted to EUR 35 million (31 December 2024: EUR 0 million). Neste purchases these emission allowances during 2026. The actual amount of CO2 emissions in 2025 were 3.0 million tons (2024: 2.6 million tons) in total. The Group has traded emission allowances for net amount of 0.5 million tons during the financial period ended 31 December 2025 (2024: 0.6 million tons).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmissionRightsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__73": {
"value": "Impairment of non-financial assetsIntangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized in the consolidated statement of income to the extent that the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. Non-financial assets other than goodwill are reviewed for possible reversal of impairment recognised in prior periods at each reporting date.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__72-1": {
"value": "Impairment of non-financial assetsIntangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized in the consolidated statement of income to the extent that the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s fair value less costs to sell and value in use. Non-financial assets other than goodwill are reviewed for possible reversal of impairment recognised in prior periods at each reporting date.ImpairmentThe general expected credit loss model is used for debt instruments carried at amortized cost and the impairment is recognized through profit or loss. The credit loss is recognized based on individual assessment of receivable. The simplified expected credit loss model is applied for trade receivables according to IFRS 9. Every business area uses a specific provision matrix for the trade receivables due to the different nature of the businesses. The business area impairment process is based on historical credit loss experience combined with current conditions and forward looking macroeconomic analysis. The impairment or credit loss of trade receivables is recognized in the consolidated statement of income within other expenses and regarding non-current interest-bearing receivables within financial expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__82": {
"value": "Impairment test of goodwillGoodwill is allocated to Neste\u2019s Renewable Products cash-generating unit (CGU), which is equal with the Renewable Products segment. In 2025 impairment testing, the recoverable amount of Renewables Products cash-generating unit was higher than the carrying amount. The impairment testings of 2025 and 2024 did not indicate need for an impairment. A segment-level summary of the goodwill allocation is presented below:2025 2024Renewable Products 478 514BS Goodwill 478 514WACC% 11.5 10.8Based on the sensitivity analysis, a decrease of 20% (2024: 20%) in sales margin or 2.4%-points (2024: 2.9%) increase in the discount rate would not create a situation in which the carrying amounts of the cash-generating units would exceed their recoverable amounts. Cash flows beyond the six year period are extrapolated by using 2.0% (2024: 2.0%) nominal growth rate. The post-tax WACC is 9.8% (2024: 9.4%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__84": {
"value": "14 Property, plant and equipmentAccounting policyProperty, plant, and equipment mainly comprise refineries, production plants, storage tanks, and the marine fleet, as well as retail station network infrastructure and equipment - excluding dealer-owned stations. Property, plant, and equipment are stated at historical cost in the balance sheet, less depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items in question and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Cost may also include transfers from equity of any gains/losses on qualifying cash flow hedges related to foreign currency purchases of property, plant, and equipment. Assets acquired through the acquisition of a new subsidiary are stated at their fair value on the date of acquisition. Subsequent costs are included in the asset\u2019s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to Neste and the cost of the item can be measured reliably. Costs for planned maintenance turnaround at refineries and other production plants on a 2\u20135 year cycle are capitalized when they occur and then depreciated during the maintenance turnaround cycle, i.e., the time between shutdowns. All other repairs and maintenance are charged to the consolidated statement of income during the financial period in which they are incurred.Land areas are not depreciated. The bottom of crude oil rock inventory and precious metals in catalysts used in production process are included in other tangible assets and are depreciated according to possible usage. Depreciation on tangible assets is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives as follows:Buildings and structures, including terminals 20\u201340 yearsMachinery and equipment: Production machinery and equipment 15\u201320 years Marine fleet 15\u201320 years Retail station network infrastructure and equipment 5\u201315 years Other equipment and vehicles 2\u201315 yearsOther tangible assets 20\u201340 yearsThe residual values and useful lives of assets are reviewed and adjusted where appropriate at each balance sheet date. The carrying amount of an asset is written down immediately to its recoverable amount if the former amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amounts. These are included in \u2018Other income\u2019 or \u2018Other expenses\u2019 in the consolidated statement of income. Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset, a major initial investment, such as a new production facility, form part of the cost of that asset. Other borrowing costs are recognized as an expense.Research expenditure is recognized as an expense as incurred and included in other expences in the consolidated statement of income. Expenditure on development activities is capitalized only when it fulfills strict criteria e.g., development relates to new products that are both technically and commercially feasible. The majority of Neste\u2019s development expenditure does not meet the criteria for capitalization and are recognized as expenses as incurred.Neste\u2019s climate targets and risks, as well as plans regarding the transformation of the Porvoo refinery, may impact the valuation and useful lives of property, plant and equipment. The planned transformation of the Porvoo refinery did not have a material impact on property, plant and equipment during 2025. Investments in the Renewable Products segment are mainly EU Taxonomy-aligned; further information is presented in the Sustainability Report.LeasesNeste assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.As a lessee, Neste recognizes the right-of-use asset on the balance sheet as property, plant and equipment at a value equivalent to the initial measurement of the lease liability adjusted for lease prepayments, lease incentives, initial direct costs and any restoration obligations at the commencement date of the lease.Right-of-use assets are depreciated on a straight-line basis over the lease term of the assets. Right-of-use assets are assessed for impairment in line with the accounting policy for impairment of property, plant and equipment, intangible assets, and goodwill (see Note 13 Goodwill and intangible assets).Refer to Note 29 Leases for further information.Buildings Machinery and Other Assets under 2025 Landand constructionsequipmenttangible assetsconstruction TotalGross carrying amount on 1 January 395 3,668 7,776 1,449 2,236 15,524Exchange rate differences -6 -5 -165 -48 -3 -227Additions 17 36 235 79 811 1,177Disposals -14 -55 -261 -138 -1 -469Reclassifications -1 342 267 2 -549 61Gross carrying amount on 31 December 390 3,987 7,852 1,344 2,494 16,067Accumulated depreciation and impairment losses on 1 January 73 1,525 4,513 494 48 6,653Exchange rate differences -1 -2 -33 -19 0 -54Disposals -5 -31 -218 -74 0 -328Reclassifications 2 0 0 0 0 2Depreciation and impairment losses for the period 15 122 560 183 6 886Accumulated depreciation and impairment losses on 31 December 84 1,614 4,821 585 54 7,158BS Carrying amount on 1 January 2025 322 2,144 3,264 955 2,188 8,872BS Carrying amount on 31 December 2025 306 2,373 3,031 759 2,439 8,908The carrying amount of assets under construction on 31 December 2025 includes mainly assets related to the ongoing expansion project in the Rotterdam, Netherlands. Property, plant and equipment includes right-of-use (ROU) assets where Neste is a lessee as specified in Note 29 Leases.Buildings Machinery and Other Assets under 2024 Landand constructionsequipmenttangible assetsconstruction TotalGross carrying amount on 1 January 349 3,637 7,242 1,108 1,274 13,610Exchange rate differences 3 3 85 21 1 113Additions 45 35 501 320 1,026 1,927Disposals -3 -23 -54 -104 6 -178Reclassifications 1 16 3 104 -72 52Gross carrying amount on 31 December 395 3,668 7,776 1,449 2,236 15,524Accumulated depreciation and impairment losses on 1 January 54 1,407 3,988 341 33 5,824Exchange rate differences 0 1 12 7 0 21Disposals 0 -8 -22 -93 0 -123Reclassifications 2 0 -52 52 0 2Depreciation and impairment losses for the period 16 124 586 188 15 929Accumulated depreciation and impairment losses on 31 December 73 1,525 4,513 494 48 6,653BS Carrying amount on 1 January 2024 295 2,230 3,254 767 1,241 7,786BS Carrying amount on 31 December 2024 322 2,144 3,264 955 2,188 8,872The carrying amount of assets under construction on 31 December 2024 includes mainly assets related to the ongoing expansion project in the Netherlands. Property, plant and equipment includes right-of-use (ROU) assets where Neste is a lessee as specified in Note 29 Leases.Capitalized borrowing costsDuring 2025 interest costs amounting to EUR 69 million (2024: EUR 53 million) were capitalized related mainly to the expansion project in the Rotterdam, Netherlands. They are included in property, plant and equipment. Neste\u2019s average interest rate of borrowings for each month was applied as the capitalization rate, which was 3.4% in 2025 (2024: 3.6%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__85": {
"value": "Accounting policyProperty, plant, and equipment mainly comprise refineries, production plants, storage tanks, and the marine fleet, as well as retail station network infrastructure and equipment - excluding dealer-owned stations. Property, plant, and equipment are stated at historical cost in the balance sheet, less depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to the acquisition of the items in question and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Cost may also include transfers from equity of any gains/losses on qualifying cash flow hedges related to foreign currency purchases of property, plant, and equipment. Assets acquired through the acquisition of a new subsidiary are stated at their fair value on the date of acquisition. Subsequent costs are included in the asset\u2019s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to Neste and the cost of the item can be measured reliably. Costs for planned maintenance turnaround at refineries and other production plants on a 2\u20135 year cycle are capitalized when they occur and then depreciated during the maintenance turnaround cycle, i.e., the time between shutdowns. All other repairs and maintenance are charged to the consolidated statement of income during the financial period in which they are incurred.Land areas are not depreciated. The bottom of crude oil rock inventory and precious metals in catalysts used in production process are included in other tangible assets and are depreciated according to possible usage. Depreciation on tangible assets is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives as follows:Buildings and structures, including terminals 20\u201340 yearsMachinery and equipment: Production machinery and equipment 15\u201320 years Marine fleet 15\u201320 years Retail station network infrastructure and equipment 5\u201315 years Other equipment and vehicles 2\u201315 yearsOther tangible assets 20\u201340 yearsThe residual values and useful lives of assets are reviewed and adjusted where appropriate at each balance sheet date. The carrying amount of an asset is written down immediately to its recoverable amount if the former amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amounts. These are included in \u2018Other income\u2019 or \u2018Other expenses\u2019 in the consolidated statement of income. Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset, a major initial investment, such as a new production facility, form part of the cost of that asset. Other borrowing costs are recognized as an expense.Research expenditure is recognized as an expense as incurred and included in other expences in the consolidated statement of income. Expenditure on development activities is capitalized only when it fulfills strict criteria e.g., development relates to new products that are both technically and commercially feasible. The majority of Neste\u2019s development expenditure does not meet the criteria for capitalization and are recognized as expenses as incurred.Neste\u2019s climate targets and risks, as well as plans regarding the transformation of the Porvoo refinery, may impact the valuation and useful lives of property, plant and equipment. The planned transformation of the Porvoo refinery did not have a material impact on property, plant and equipment during 2025. Investments in the Renewable Products segment are mainly EU Taxonomy-aligned; further information is presented in the Sustainability Report.LeasesNeste assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.As a lessee, Neste recognizes the right-of-use asset on the balance sheet as property, plant and equipment at a value equivalent to the initial measurement of the lease liability adjusted for lease prepayments, lease incentives, initial direct costs and any restoration obligations at the commencement date of the lease.Right-of-use assets are depreciated on a straight-line basis over the lease term of the assets. Right-of-use assets are assessed for impairment in line with the accounting policy for impairment of property, plant and equipment, intangible assets, and goodwill (see Note 13 Goodwill and intangible assets).Refer to Note 29 Leases for further information.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__86": {
"value": "Land areas are not depreciated. The bottom of crude oil rock inventory and precious metals in catalysts used in production process are included in other tangible assets and are depreciated according to possible usage. Depreciation on tangible assets is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives as follows:Buildings and structures, including terminals 20\u201340 yearsMachinery and equipment: Production machinery and equipment 15\u201320 years Marine fleet 15\u201320 years Retail station network infrastructure and equipment 5\u201315 years Other equipment and vehicles 2\u201315 yearsOther tangible assets 20\u201340 yearsThe residual values and useful lives of assets are reviewed and adjusted where appropriate at each balance sheet date. The carrying amount of an asset is written down immediately to its recoverable amount if the former amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amounts. These are included in \u2018Other income\u2019 or \u2018Other expenses\u2019 in the consolidated statement of income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__87-1": {
"value": "LeasesNeste assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.As a lessee, Neste recognizes the right-of-use asset on the balance sheet as property, plant and equipment at a value equivalent to the initial measurement of the lease liability adjusted for lease prepayments, lease incentives, initial direct costs and any restoration obligations at the commencement date of the lease.Right-of-use assets are depreciated on a straight-line basis over the lease term of the assets. Right-of-use assets are assessed for impairment in line with the accounting policy for impairment of property, plant and equipment, intangible assets, and goodwill (see Note 13 Goodwill and intangible assets).Refer to Note 29 Leases for further information.Accounting policy Neste assesses at contract inception whether a contract is, or contains, a lease, i.e., if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.Neste as a lesseeNeste has lease contracts for various land areas, vessels, tanks, containers, facilities and other equipment used in its operations. Lease contracts are made for fixed periods of 1 to 82 years, the longest durations relating typically to land leases. Some leases include an option to extend the lease for an additional period after the end of the contract term or terminate the contract during the lease term.Neste recognizes a leased asset and a lease liability at the lease commencement date, except for short-term leases and leases of low-value assets.i) Right-of-use assetsNeste recognizes right-of-use assets on the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, any restoration obligations and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the lease term. If ownership of the leased asset transfers to Neste at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment.Neste\u2019s right-of-use assets are included in Property, plant and equipment (see Note 14 Property plant and equipment).ii) Lease liabilitiesAt the commencement date of the lease, Neste recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option that is reasonably certain to be exercised by Neste and payments of penalties for terminating the lease, if the lease term reflects Neste exercising the option to terminate.In calculating the present value of lease payments, Neste uses interest rate implicit in the lease if readily determinable and if not, Neste uses its incremental borrowing rate at the lease commencement date. This incremental borrowing rate is similar with the rate of interest that a lessee would have to pay to borrow over a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use assets in similar economic environment. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. Neste\u2019s lease liabilities are included in Interest-bearing liabilities (see Note 21 Financial liabilities).iii) Short-term leases and leases of low-value assetsNeste applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term.Neste as a lessorAt inception of a lease contract, Neste makes an assessment whether the lease is a finance lease or an operating lease. If the lease substantially transfers all the risks and rewards incidental to ownership of the asset, it is considered to be a finance lease; if not, the lease is considered to be an operating lease. Neste has a minor amount of operating lease contracts, whereby the lease payments are recognized on a straight-line basis over the lease term and is included in other income in the statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__88": {
"value": "15 Investments in associates and joint venturesAccounting policyAssociates and joint ventures have been consolidated using the equity method. Further information on the equity method is presented in Note 2 Accounting policies, under the section Joint arrangements.Carrying amount 2025 2024On 1 January 53 58IS, CF Share of profit (loss) of associates and joint ventures 7 -9OCI Share of other comprehensive income of investments accounted for using the equity method 0 -2Translation differences -3 1Investments -3 5BS On 31 December 54 53Neste\u2019s interest and nature of of the relationship in its principle associates and joint ventures at 31 December, all of which are unlisted, are listed in the following table:2025 2024Nature of the Country of % interest % interest relationshipincorporationheldheld 1)Alterra Energy LLC Associated companyUSA 29.50 29.99 2)Kilpilahti Power Plant Ltd Joint VentureFinland 40.00 40.001) Alterra Energy LLC is a US-based, chemical recycling technology company. The cooperation between Neste and Alterra includes joint technology development and commercialization of the technology. Management has classified Alterra as an associated company due to the interest held in the company. 2) Kilpilahti Power Plant Ltd is a joint venture company that produces and supplies steam and other utilities to Neste\u2019s refinery and Borealis\u2019 petrochemical plant in Porvoo, Finland. The joint venture is owned 40% each by Neste and Veolia and 20% by Borealis. Management has classified this ownership as a joint venture because the arrangement is structured through a separate vehicle, the legal form of which separates its assets and liabilities of its shareholders and it is directed so that the relevant activities of the company require unanimous consent from all parties sharing control. The power plant\u2019s capacity is also meant to serve external customers in addition to Neste and Borealis and thus optimize the returns of all shareholders in form of net profit. Management has also taken into account that Kilpilahti Power Plant Ltd is independently responsible for the power plant operated by Veolia. Summarized financial information in respect of Neste\u2019s associates and joint ventures are set out in the following table:Alterra Energy LLC Kilpilahti Power Plant Ltd2025 2024 2025 2024Non-current assets 34 36 468 501Current assetsCash and cash equivalents 4 20 45 9Other current assets (excl. cash and cash equivalents) 2 1 43 78Total current assets 6 21 88 87Non-current liabilitiesNon-current financial liabilities (excl. trade payables and provisions) 5 6 432 490Other non-current liabilities 0 0 21 21Total non-current liabilities 5 6 453 512Current liabilitiesCurrent financial liabilities (excl. trade payables and provisions) 0 0 31 31Other current liabilities 2 4 23 24Total current liabilities 2 4 54 55Net assets 33 47 49 22Revenue 13 8 210 234Depreciation, amortization and impairments 2 2 34 33Interest income 0 0 2 6Interest expense 0 1 22 26Income tax expense 0 0 0 0Profit/loss -14 -17 3 1Reconciliation of summarized financial informationReconciliation of the summarized financial information presented to the carrying amount of its interest in the associates and joint ventures:Alterra Energy LLC Kilpilahti Power Plant Ltd2025 2024 2025 2024Opening net assets 1 January 107 82 52 62Investment in associate/joint venture -8 38 0 0Profit for the period -14 -17 27 -6Other comprehensive income -9 4 1 -4Closing net assets 31 December 76 107 79 52Interest in joint venture 22 32 32 21Carrying value 22 32 32 21The share of profits of associates and joint ventures are consolidated based on the companies\u2019 preliminary results for the financial period. Transactions carried out with associates and joint ventures are disclosed in Note 25 Related party transactions. Contingent liabilities relating to the Neste\u2019s interest in the associates and joint ventures are disclosed in Note 28 Contingencies and commitments.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__89": {
"value": "Accounting policyAssociates and joint ventures have been consolidated using the equity method. Further information on the equity method is presented in Note 2 Accounting policies, under the section Joint arrangements.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__91": {
"value": "16 Financial assets and liabilities by measurement categoriesNeste classifies financial assets and liabilities according to IFRS 9. Accounting policies, classification criterias and other information relating to financial assets and liabilities can be found in Note 17 Financial assets and Note 21 Financial liabilities.Derivative financial instruments under Fair value through OCI -category meet criteria for hedge accounting. Derivative financial instruments are initially recognized at fair value on the trade date and are subsequently re-measured at their fair value on the balance sheet date. The fair values of the foreign exchange forward and the interest rate swap contracts are calculated as the present values of the future cash flows. During 2025, Neste updated the valuation model for fair values of foreign exchange options from the Black-Scholes model to the Garman-Kohlhagen model. This has been treated as a change in accounting estimate and applied prospectively. The change did not have a material impact on the consolidated financial statements, and prior period comparatives have not been restated.The fair value of the exchange traded commodity derivatives is based on exchange market quotations and the fair value of over-the-counter commodity derivative contracts is based on the net present value of cash flows. The fair value of all derivatives is calculated using the observable market inputs for currency and interest rates, volatilities and commodity price quotations on the closing date. Derivative contracts are included in current assets or liabilities, except derivatives maturities over 12 months after the balance sheet date, which are classified as non-current assets or liabilities. More information relating to derivative financial instruments can be found in Note 19 Derivative financial instruments.31 Dec 2025 Fair value through Balance sheet item Fair value through OCIprofit or loss Amortized cost Carrying amount Fair value Level 1 Level 2 Level 3Non-current financial assetsBS Non-current receivables 91 91 91BS Derivative financial instruments 0 12 13 13 13BS Other financial assets 23 13 36 36 36Current financial assets 1)Trade and other receivables1,364 1,364 1,364BS Derivative financial instruments 29 78 107 107 55 52BS Current investments 0 0BS Cash and cash equivalents 1,367 1,367 1,367Financial assets 52 103 2,822 2,977 2,977Non-current financial liabilitiesBS Interest-bearing liabilities 4,713 4,713 4,754 2,837 1,917BS Derivative financial instruments 2 2 5 5 2 3 1)Other non-current liabilities16 16 32 32 16Current financial liabilitiesBS Interest-bearing liabilities 253 218 470 470 470BS Derivative financial instruments 10 119 129 129 69 60 1)Trade and other payables2,287 2,287 2,287Financial liabilities 12 390 7,234 7,636 7,6771) Excluding non-financial itemsFinancial instruments that are measured at fair value in the balance sheet and the interest-bearing liabilities are presented according to fair value measurement hierarchy:Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilitiesLevel 2: other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectlyLevel 3: inputs for the assets or liability that is not based on observable market data.Interest-bearing liabilities at level 1 consist of listed bonds. Derivative financial instruments at level 1 consist of commodity derivatives which are directly valued based on exchange quotations. Other financial assets in fair value through profit and loss category include unlisted other investments of EUR 13 million. Other financial assets in fair value through other comprehensive income category include unlisted shares of EUR 23 million. Current interest-bearing liabilities in fair value through profit and loss category consist precious metal loans. Other financial liabilities in fair value through profit and loss category mainly consist contingent considerations of acquisition made in prior years. Fair values are determined in accordance of IFRS 13. During the year 2025 there were no transfers between Level 1 and Level 2 fair value measurements, and no transfers into and out of Level 3 fair value measurements. 31 Dec 2024 Fair value through Balance sheet item Fair value through OCIprofit or loss Amortized cost Carrying amount Fair value Level 1 Level 2 Level 3Non-current financial assetsBS Non-current receivables 128 128 128BS Derivative financial instruments 33 33 33 0 33BS Other financial assets 30 10 40 40 40Current financial assets 1)Trade and other receivables1,490 1,490 1,490BS Derivative financial instruments 27 85 113 113 22 90BS Current investments 0 0BS Cash and cash equivalents 955 955 955Financial assets 57 128 2,573 2,758 2,758Non-current financial liabilitiesBS Interest-bearing liabilities 4,362 4,362 4,348 2,101 2,247BS Derivative financial instruments 6 2 8 8 8 1)Other non-current liabilities14 17 32 32 14Current financial liabilitiesBS Interest-bearing liabilities 153 633 786 786 786BS Derivative financial instruments 114 116 230 230 46 184 1)Trade and other payables13 2,080 2,092 2,092 13Financial liabilities 120 297 7,092 7,509 7,4951) Excluding non-financial itemsDuring the year 2024 there were no transfers between Level 1 and Level 2 fair value measurements, and no transfers into and out of Level 3 fair value measurements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f1__s7__6__90": {
"value": "16 Financial assets and liabilities by measurement categoriesNeste classifies financial assets and liabilities according to IFRS 9. Accounting policies, classification criterias and other information relating to financial assets and liabilities can be found in Note 17 Financial assets and Note 21 Financial liabilities.Derivative financial instruments under Fair value through OCI -category meet criteria for hedge accounting. Derivative financial instruments are initially recognized at fair value on the trade date and are subsequently re-measured at their fair value on the balance sheet date. The fair values of the foreign exchange forward and the interest rate swap contracts are calculated as the present values of the future cash flows. During 2025, Neste updated the valuation model for fair values of foreign exchange options from the Black-Scholes model to the Garman-Kohlhagen model. This has been treated as a change in accounting estimate and applied prospectively. The change did not have a material impact on the consolidated financial statements, and prior period comparatives have not been restated.The fair value of the exchange traded commodity derivatives is based on exchange market quotations and the fair value of over-the-counter commodity derivative contracts is based on the net present value of cash flows. The fair value of all derivatives is calculated using the observable market inputs for currency and interest rates, volatilities and commodity price quotations on the closing date. Derivative contracts are included in current assets or liabilities, except derivatives maturities over 12 months after the balance sheet date, which are classified as non-current assets or liabilities. More information relating to derivative financial instruments can be found in Note 19 Derivative financial instruments.31 Dec 2025 Fair value through Balance sheet item Fair value through OCIprofit or loss Amortized cost Carrying amount Fair value Level 1 Level 2 Level 3Non-current financial assetsBS Non-current receivables 91 91 91BS Derivative financial instruments 0 12 13 13 13BS Other financial assets 23 13 36 36 36Current financial assets 1)Trade and other receivables1,364 1,364 1,364BS Derivative financial instruments 29 78 107 107 55 52BS Current investments 0 0BS Cash and cash equivalents 1,367 1,367 1,367Financial assets 52 103 2,822 2,977 2,977Non-current financial liabilitiesBS Interest-bearing liabilities 4,713 4,713 4,754 2,837 1,917BS Derivative financial instruments 2 2 5 5 2 3 1)Other non-current liabilities16 16 32 32 16Current financial liabilitiesBS Interest-bearing liabilities 253 218 470 470 470BS Derivative financial instruments 10 119 129 129 69 60 1)Trade and other payables2,287 2,287 2,287Financial liabilities 12 390 7,234 7,636 7,6771) Excluding non-financial itemsFinancial instruments that are measured at fair value in the balance sheet and the interest-bearing liabilities are presented according to fair value measurement hierarchy:Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilitiesLevel 2: other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectlyLevel 3: inputs for the assets or liability that is not based on observable market data.Interest-bearing liabilities at level 1 consist of listed bonds. Derivative financial instruments at level 1 consist of commodity derivatives which are directly valued based on exchange quotations. Other financial assets in fair value through profit and loss category include unlisted other investments of EUR 13 million. Other financial assets in fair value through other comprehensive income category include unlisted shares of EUR 23 million. Current interest-bearing liabilities in fair value through profit and loss category consist precious metal loans. Other financial liabilities in fair value through profit and loss category mainly consist contingent considerations of acquisition made in prior years. Fair values are determined in accordance of IFRS 13. During the year 2025 there were no transfers between Level 1 and Level 2 fair value measurements, and no transfers into and out of Level 3 fair value measurements. 31 Dec 2024 Fair value through Balance sheet item Fair value through OCIprofit or loss Amortized cost Carrying amount Fair value Level 1 Level 2 Level 3Non-current financial assetsBS Non-current receivables 128 128 128BS Derivative financial instruments 33 33 33 0 33BS Other financial assets 30 10 40 40 40Current financial assets 1)Trade and other receivables1,490 1,490 1,490BS Derivative financial instruments 27 85 113 113 22 90BS Current investments 0 0BS Cash and cash equivalents 955 955 955Financial assets 57 128 2,573 2,758 2,758Non-current financial liabilitiesBS Interest-bearing liabilities 4,362 4,362 4,348 2,101 2,247BS Derivative financial instruments 6 2 8 8 8 1)Other non-current liabilities14 17 32 32 14Current financial liabilitiesBS Interest-bearing liabilities 153 633 786 786 786BS Derivative financial instruments 114 116 230 230 46 184 1)Trade and other payables13 2,080 2,092 2,092 13Financial liabilities 120 297 7,092 7,509 7,4951) Excluding non-financial itemsDuring the year 2024 there were no transfers between Level 1 and Level 2 fair value measurements, and no transfers into and out of Level 3 fair value measurements.",
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"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"f1__s7__6__96": {
"value": "Trade and other receivables 2025 2024Trade receivables 1,128 1,319Other receivables 205 150Advances paid 18 12Accrued income and prepaid expenses 65 58BS Trade and other receivables 1,416 1,539Trade and other receivables excluding non-financial items 1,364 1,490Due to the nature of short-term trade and other receivables their carrying amount is expected to be equal to their fair value. The maximum exposure to credit risk is the carrying amount of the trade and other receivables. Analysis of trade receivables by age, information about the impairment and credit losses are presented in Note 3 Financial risk management, section \u2018credit and counterparty risk\u2019.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__92": {
"value": "17 Financial assetsAccounting policyFinancial assets are classified in the following measurement categories: amortized cost, fair value through other comprehensive income and fair value through profit or loss. The classification depends on used business model for managing the financial assets and the contractual terms of the cash flows. Assets are classified as current assets, except for maturities over 12 months after balance sheet date, which are classified as non-current assets. Purchases and sales of financial assets are recognized on the settlement date (excluding derivatives, Note 19 Derivative financial instruments). Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership.Amortized cost category consists of liquid funds, trade receivables and loan receivables where the business model is to hold the asset to collect the contractual cash flows which represent only payments of principal and interest. Financial assets recognized at amortized cost are valued using the effective interest method.Assets at fair value through profit or loss consists of equity investments (and derivatives which do not meet the criteria for hedge accounting). The investments in unlisted companies are measured at their fair value according to IFRS 13. Gains or losses of the equity investments are included in financial income and expenses. Other financial assets in fair value through other comprehensive income category include unlisted shares which are not held for trading. These are strategic investments and Neste considers this classification to be more relevant. Liquid fundsLiquid funds consists of cash and cash equivalents and current investments. Cash and cash equivalents includes cash in hand, deposits held at banks, and other highly liquid investments with original maturities of three months or less. Current investments includes deposits held at banks and other liquid investments including money market funds with original maturities from 3 to 12 months. ImpairmentThe general expected credit loss model is used for debt instruments carried at amortized cost and the impairment is recognized through profit or loss. The credit loss is recognized based on individual assessment of receivable. The simplified expected credit loss model is applied for trade receivables according to IFRS 9. Every business area uses a specific provision matrix for the trade receivables due to the different nature of the businesses. The business area impairment process is based on historical credit loss experience combined with current conditions and forward looking macroeconomic analysis. The impairment or credit loss of trade receivables is recognized in the consolidated statement of income within other expenses and regarding non-current interest-bearing receivables within financial expenses.Liquid funds 2025 2024BS Current investments 0 0BS, CF Cash and cash equivalents 1,367 955Liquid Funds 1,367 955The maximum exposure to credit risk is the carrying amount of the liquid funds. Note 3 Financial risk management sets out more information about credit risk. The impairment of liquid funds has not been recognized because the amount is immaterial. Trade and other receivables 2025 2024Trade receivables 1,128 1,319Other receivables 205 150Advances paid 18 12Accrued income and prepaid expenses 65 58BS Trade and other receivables 1,416 1,539Trade and other receivables excluding non-financial items 1,364 1,490Due to the nature of short-term trade and other receivables their carrying amount is expected to be equal to their fair value. The maximum exposure to credit risk is the carrying amount of the trade and other receivables. Analysis of trade receivables by age, information about the impairment and credit losses are presented in Note 3 Financial risk management, section \u2018credit and counterparty risk\u2019.Non-current financial assets 2025 2024Non-current interest-bearing receivables 69 113Other non-current receivables 22 15BS Non-current receivables 91 128BS Other financial assets 36 40The fair value of non-current financial receivables is not materially different from the carrying amount which is also the maximum exposure to credit risk. During 2025, an impairment of EUR 50 million was recognized to loan receivables. Other financial assets consist of unlisted shares.",
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"concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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},
"f1__s7__6__93": {
"value": "Accounting policyFinancial assets are classified in the following measurement categories: amortized cost, fair value through other comprehensive income and fair value through profit or loss. The classification depends on used business model for managing the financial assets and the contractual terms of the cash flows. Assets are classified as current assets, except for maturities over 12 months after balance sheet date, which are classified as non-current assets. Purchases and sales of financial assets are recognized on the settlement date (excluding derivatives, Note 19 Derivative financial instruments). Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership.Amortized cost category consists of liquid funds, trade receivables and loan receivables where the business model is to hold the asset to collect the contractual cash flows which represent only payments of principal and interest. Financial assets recognized at amortized cost are valued using the effective interest method.Assets at fair value through profit or loss consists of equity investments (and derivatives which do not meet the criteria for hedge accounting). The investments in unlisted companies are measured at their fair value according to IFRS 13. Gains or losses of the equity investments are included in financial income and expenses. Other financial assets in fair value through other comprehensive income category include unlisted shares which are not held for trading. These are strategic investments and Neste considers this classification to be more relevant. Liquid fundsLiquid funds consists of cash and cash equivalents and current investments. Cash and cash equivalents includes cash in hand, deposits held at banks, and other highly liquid investments with original maturities of three months or less. Current investments includes deposits held at banks and other liquid investments including money market funds with original maturities from 3 to 12 months.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__95": {
"value": "ImpairmentThe general expected credit loss model is used for debt instruments carried at amortized cost and the impairment is recognized through profit or loss. The credit loss is recognized based on individual assessment of receivable. The simplified expected credit loss model is applied for trade receivables according to IFRS 9. Every business area uses a specific provision matrix for the trade receivables due to the different nature of the businesses. The business area impairment process is based on historical credit loss experience combined with current conditions and forward looking macroeconomic analysis. The impairment or credit loss of trade receivables is recognized in the consolidated statement of income within other expenses and regarding non-current interest-bearing receivables within financial expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__97": {
"value": "18 InventoriesAccounting policyInventories are stated at either cost or net realizable value, whichever is the lowest. Cost is determined using the weighted average method. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs, and related production overheads (based on normal operating capacity). Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Inventories held for trading purposes are measured at fair value less selling expenses. Standard spare parts are carried as inventory and recognized in profit or loss as consumed. RIN (Renewable Identification Number) and LCFS (Low Carbon Fuels Standard) credits are accounted for as government grants upon receipt of the product inventory in the USA and are accounted for as inventory. RINs and LCFSs are included in Finished products and goods -category. In addition to LCFS and RINs, Clean Fuel Production Credits (CFPCs) are recognized in inventory upon generation. Estimates and judgements requiring management estimationEstimates of net realizable value are based on the most reliable evidence available at the time the estimates are made. These estimates take into consideration fluctuations of price or cost directly relating to events occurring after the end of the period to the extent that such events confirm conditions existing at the end of the period. Neste considers biofuel credits as assets created under various government programs to incentivize renewable fuel supply. 2025 2024Materials and supplies 1,319 1,356Finished products and goods 1,576 1,541BS Inventories 2,895 2,898Write-downs included in the inventories at the end of the period were EUR 100 million (2024: EUR 112 million).",
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"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__100": {
"value": "19 Derivative financial instrumentsAccounting policyThe derivative instruments are mainly held for economic hedging purposes, but hedge accounting is not applied to all contracts. Changes in the fair value of derivatives, for which hedge accounting is not applied, are recognized in the consolidated statement of income either in operating profit or financial income and expenses, depending on the underlying hedged item. Impact to the consolidated statement of income from the derivatives is presented in Note 10 Financial income and expenses.When hedge accounting is applied to the derivative contracts, the method of recognizing any resulting gain or loss depends on the nature of the item being hedged. Neste designates certain derivative financial instruments as either hedges of highly probable forecasted transactions (cash flow hedges); or hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges); or hedges of net investments in foreign operations. The effective portion of the changes in the fair value of derivative financial instruments that are designated and qualified as cash flow hedges are recognized in equity. Amounts accumulated in equity from hedging future sales are recorded within revenue, or in case of capital expenditure as part of acquisition cost, when future cash flows of the hedged item occur. Forward points in currency forwards and time value of options are transaction related and thus recognized in equity and reclassified either to the consolidated statement of income or adjusting acquisition cost of hedged item according to hedging relationship. In cash flow hedges the critical terms in hedged item and hedging instruments are the same and hedge ratio is 1:1. Any potential gain or loss relating to the ineffective portion is recognized immediately in the consolidated statement of income. Accured interest of interest rate swaps hedging floating rate interest-bearing liabilities is recognized in the consolidated statement of income within financial expenses. If a forecasted transaction is no longer expected to occur, the cumulative gain or loss reported in equity is immediately transferred to the consolidated statement of income. Changes in the fair value of interest rate swaps that are designated and qualified as fair value hedges are recorded in the consolidated statement of income in financial income and expenses, together with any changes in the fair value of the hedged asset or liability attributable to the hedged risk compensating the effect. Any gain or loss relating to the ineffective portion is recognized immediately in the consolidated statement of income.Neste documents at the inception of the transaction the relationship between hedging instrument and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. Neste also documents its assessment, both at hedge inception and on an ongoing basis quarterly, of whether the derivatives that are used in hedging transactions are effective in offsetting changes in fair values or cash flows of hedged items. 31 Dec 2025 31 Dec 2024Nominal value by maturity Fair Value Nominal value by maturity Fair Value < 1 year > 1 year Positive Negative Net < 1 year > 1 year Positive Negative NetForeign exchange rate derivativesInterest rate swaps 0 300 0 2 -2 0 300 0 6 -6Foreign exchange derivatives, forwards 1,993 0 29 10 18 3,135 0 27 114 -86Foreign exchange optionsPurchased 0 0 0 0 0 7 0 0 0 0Written 0 0 0 0 0 7 0 0 0 0Derivatives designated as cash flow hedges 1,993 300 29 12 17 3,148 300 27 120 -93Interest rate swaps 0 550 12 0 12 0 550 29 0 29Derivatives designated as fair value hedges 0 550 12 0 12 0 550 29 0 29Foreign exchange derivatives, forwards 2,479 0 9 13 -5 2,018 0 11 33 -22Non-hedge accounting derivatives 2,479 0 9 13 -5 2,018 0 11 33 -22Commodity derivativesOil and vegetable oil derivativesSold forwards, million bbl 21 0 65 17 48 16 0 21 26 -5Purchased forwards, million bbl 12 0 3 78 -75 17 0 37 51 -14Electricity and gas derivativesSold forwards, GWh 159 0 1 0 1 7 126 0 1 -1Purchased forwards, GWh 2,152 751 0 13 -13 2,348 873 20 6 13Non-hedge accounting derivatives 70 108 -39 78 84 -7Derivatives Total 119 134 -15 145 238 -92of whichBS Non-current derivative financial instruments 13 5 8 33 8 25BS Current derivative financial instruments 107 129 -23 113 230 -117Neste uses foreign exchange, interest rate and commodity derivatives to manage market risks (More information in Note 3 Financial risk management). Hedge accounting is not applied to commodity derivatives, although these are mainly held for economic hedging purposes. Commodity derivatives include oil, vegetable oil, freight, electricity and gas contracts. Neste uses forwards as hedging instruments for commodities. Neste has designated certain foreign currency and interest rate derivatives as hedges of future transactions i.e., as cash flow hedges. Such contracts are, e.g., foreign exchange derivatives hedging USD- and SEK-sales for the next twelve months according to the Corporate risk management policy. (More information in Note 3 Financial risk management). Interest rate swaps are designated as fair value hedges. The result of these hedging instruments recognized in the consolidated statement of income was EUR 12 million (2024: EUR 29 million) and of hedged item EUR -13 million (2024: EUR -30 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__98": {
"value": "Accounting policyInventories are stated at either cost or net realizable value, whichever is the lowest. Cost is determined using the weighted average method. The cost of finished goods and work in progress comprises raw materials, direct labor, other direct costs, and related production overheads (based on normal operating capacity). Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. Inventories held for trading purposes are measured at fair value less selling expenses. Standard spare parts are carried as inventory and recognized in profit or loss as consumed. RIN (Renewable Identification Number) and LCFS (Low Carbon Fuels Standard) credits are accounted for as government grants upon receipt of the product inventory in the USA and are accounted for as inventory. RINs and LCFSs are included in Finished products and goods -category. In addition to LCFS and RINs, Clean Fuel Production Credits (CFPCs) are recognized in inventory upon generation.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__102": {
"value": "Accounting policyThe derivative instruments are mainly held for economic hedging purposes, but hedge accounting is not applied to all contracts. Changes in the fair value of derivatives, for which hedge accounting is not applied, are recognized in the consolidated statement of income either in operating profit or financial income and expenses, depending on the underlying hedged item. Impact to the consolidated statement of income from the derivatives is presented in Note 10 Financial income and expenses.When hedge accounting is applied to the derivative contracts, the method of recognizing any resulting gain or loss depends on the nature of the item being hedged. Neste designates certain derivative financial instruments as either hedges of highly probable forecasted transactions (cash flow hedges); or hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges); or hedges of net investments in foreign operations. The effective portion of the changes in the fair value of derivative financial instruments that are designated and qualified as cash flow hedges are recognized in equity. Amounts accumulated in equity from hedging future sales are recorded within revenue, or in case of capital expenditure as part of acquisition cost, when future cash flows of the hedged item occur. Forward points in currency forwards and time value of options are transaction related and thus recognized in equity and reclassified either to the consolidated statement of income or adjusting acquisition cost of hedged item according to hedging relationship. In cash flow hedges the critical terms in hedged item and hedging instruments are the same and hedge ratio is 1:1. Any potential gain or loss relating to the ineffective portion is recognized immediately in the consolidated statement of income. Accured interest of interest rate swaps hedging floating rate interest-bearing liabilities is recognized in the consolidated statement of income within financial expenses. If a forecasted transaction is no longer expected to occur, the cumulative gain or loss reported in equity is immediately transferred to the consolidated statement of income. Changes in the fair value of interest rate swaps that are designated and qualified as fair value hedges are recorded in the consolidated statement of income in financial income and expenses, together with any changes in the fair value of the hedged asset or liability attributable to the hedged risk compensating the effect. Any gain or loss relating to the ineffective portion is recognized immediately in the consolidated statement of income.Neste documents at the inception of the transaction the relationship between hedging instrument and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. Neste also documents its assessment, both at hedge inception and on an ongoing basis quarterly, of whether the derivatives that are used in hedging transactions are effective in offsetting changes in fair values or cash flows of hedged items.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__101": {
"value": "Accounting policyThe derivative instruments are mainly held for economic hedging purposes, but hedge accounting is not applied to all contracts. Changes in the fair value of derivatives, for which hedge accounting is not applied, are recognized in the consolidated statement of income either in operating profit or financial income and expenses, depending on the underlying hedged item. Impact to the consolidated statement of income from the derivatives is presented in Note 10 Financial income and expenses.When hedge accounting is applied to the derivative contracts, the method of recognizing any resulting gain or loss depends on the nature of the item being hedged. Neste designates certain derivative financial instruments as either hedges of highly probable forecasted transactions (cash flow hedges); or hedges of the fair value of recognized assets or liabilities or a firm commitment (fair value hedges); or hedges of net investments in foreign operations. The effective portion of the changes in the fair value of derivative financial instruments that are designated and qualified as cash flow hedges are recognized in equity. Amounts accumulated in equity from hedging future sales are recorded within revenue, or in case of capital expenditure as part of acquisition cost, when future cash flows of the hedged item occur. Forward points in currency forwards and time value of options are transaction related and thus recognized in equity and reclassified either to the consolidated statement of income or adjusting acquisition cost of hedged item according to hedging relationship. In cash flow hedges the critical terms in hedged item and hedging instruments are the same and hedge ratio is 1:1. Any potential gain or loss relating to the ineffective portion is recognized immediately in the consolidated statement of income. Accured interest of interest rate swaps hedging floating rate interest-bearing liabilities is recognized in the consolidated statement of income within financial expenses. If a forecasted transaction is no longer expected to occur, the cumulative gain or loss reported in equity is immediately transferred to the consolidated statement of income. Changes in the fair value of interest rate swaps that are designated and qualified as fair value hedges are recorded in the consolidated statement of income in financial income and expenses, together with any changes in the fair value of the hedged asset or liability attributable to the hedged risk compensating the effect. Any gain or loss relating to the ineffective portion is recognized immediately in the consolidated statement of income.Neste documents at the inception of the transaction the relationship between hedging instrument and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. Neste also documents its assessment, both at hedge inception and on an ongoing basis quarterly, of whether the derivatives that are used in hedging transactions are effective in offsetting changes in fair values or cash flows of hedged items.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__103": {
"value": "20 EquityShare capitalThe Parent Company\u2019s share capital registered with the Trade Register as of 31 December 2025 totalled EUR 40,000,000, divided into 769,211,058 shares of equal value. Neste Oyj has one class of shares and each share entitles a shareholder to one vote at the Annual General Meeting. The nominal value of one share is not determined. The share capital is fully paid. There have been no changes in share capital in 2025 or 2024.Number of shares, 1,000 Treasury shares, 1,000 Outstanding shares, 1,0001 January 2025 769,211 -995 768,216Transfer of treasury shares 0 58 5831 December 2025 769,211 -937 768,2741 January 2024 769,211 -1,011 768,200Transfer of treasury shares 0 16 1631 December 2024 769,211 -995 768,216Treasury sharesOn 31 October 2025 Neste Corporation transferred 30,449 treasury shares to the President and CEO as a participant of the Restricted Share Plans 2022\u20132024, 2023\u20132025 and 2024\u20132026 of Neste Corporation. The shares were transferred in accordance with his managing director agreement and the terms and conditions of the plans. This one-time supplementary arrangement was granted at hire in recognition of forfeiting previous employer awards. The transfer of own shares was implemented as a directed share issue without consideration based on a decision made by the Board of Directors of Neste Corporation. The decision of the Board of Directors was based on a share issue authorization granted by the Annual General Meeting of Shareholders on 25 March 2025. After this transfer of own shares Neste Corporation holds 936,999 own shares.On 12 March 2025 Neste Corporation transferred a total of 27,876 treasury shares without consideration to the participants of Neste Group\u2019s Performance Share Plan 2022\u20132024 and the Restricted Share Plan 2022\u20132024 as share rewards based on the terms and conditions of these plans. The transfer of own shares was implemented as a directed share issue without consideration based on the authorization granted by the Annual General Meeting of Shareholders on 27 March 2024. The number of treasury shares after the transfer was 967,448 shares.On 26 April 2024 Neste Corporation transferred a total of 2,201 treasury shares without consideration as a share reward to a participant of the Performance Share Plan 2021\u20132023 and in the Restricted Share Plans 2021\u20132023 and 2022\u20132024 of the share-based incentive program 2019 in accordance with the terms and conditions of the program. The transfer of own shares was implemented as a directed share issue without consideration based on the authorization granted by the Annual General Meeting of Shareholders on 28 March 2023. The number of treasury shares after the transfer was 995,324 shares.On 14 March 2024 Neste Corporation transferred a total of 13,786 treasury shares without consideration as a share reward to the participants of the Performance Share Plan 2021\u20132023 and in the Restricted Share Plan 2021\u20132023 of the share-based incentive program 2019 in accordance with the terms and conditions of the program. The transfer of own shares was implemented as a directed share issue without consideration based on the authorization granted by the Annual General Meeting of Shareholders on 28 March 2023. The number of treasury shares after the transfer was 997,525 shares.Other reservesReserve fund comprises of restricted reserves other than share capital.The reserve of invested unrestricted equity includes other equity-related investments and that part of the share subscription price that has not specifically been allocated to share capital.Fair value and other reserves mainly consist of fair value reserves. Fair value reserves include the effective portion of the change in fair value of derivative financial instruments that are designated as and qualify for cash flow hedges and net change of other investments at fair value, which are recognized in other comprehensive income. Other reserves include share of other comprehensive income of investments accounted for using the equity method.Actuarial gains and losses includes the remeasurements of defined benefit plans.Translation differences include exchange differences arising from the translation of the net investment in foreign entities on consolidation, change in the fair value of currency instruments designated as hedges of the net investment, and exchange differences resulting from the translation of income statement of foreign entities at the average exchange rates and balance sheet at the closing rates.",
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"value": "Neste Oyj",
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"value": "Neste Oyj",
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"f1__s7__6__106": {
"value": "Treasury sharesOn 31 October 2025 Neste Corporation transferred 30,449 treasury shares to the President and CEO as a participant of the Restricted Share Plans 2022\u20132024, 2023\u20132025 and 2024\u20132026 of Neste Corporation. The shares were transferred in accordance with his managing director agreement and the terms and conditions of the plans. This one-time supplementary arrangement was granted at hire in recognition of forfeiting previous employer awards. The transfer of own shares was implemented as a directed share issue without consideration based on a decision made by the Board of Directors of Neste Corporation. The decision of the Board of Directors was based on a share issue authorization granted by the Annual General Meeting of Shareholders on 25 March 2025. After this transfer of own shares Neste Corporation holds 936,999 own shares.On 12 March 2025 Neste Corporation transferred a total of 27,876 treasury shares without consideration to the participants of Neste Group\u2019s Performance Share Plan 2022\u20132024 and the Restricted Share Plan 2022\u20132024 as share rewards based on the terms and conditions of these plans. The transfer of own shares was implemented as a directed share issue without consideration based on the authorization granted by the Annual General Meeting of Shareholders on 27 March 2024. The number of treasury shares after the transfer was 967,448 shares.On 26 April 2024 Neste Corporation transferred a total of 2,201 treasury shares without consideration as a share reward to a participant of the Performance Share Plan 2021\u20132023 and in the Restricted Share Plans 2021\u20132023 and 2022\u20132024 of the share-based incentive program 2019 in accordance with the terms and conditions of the program. The transfer of own shares was implemented as a directed share issue without consideration based on the authorization granted by the Annual General Meeting of Shareholders on 28 March 2023. The number of treasury shares after the transfer was 995,324 shares.On 14 March 2024 Neste Corporation transferred a total of 13,786 treasury shares without consideration as a share reward to the participants of the Performance Share Plan 2021\u20132023 and in the Restricted Share Plan 2021\u20132023 of the share-based incentive program 2019 in accordance with the terms and conditions of the program. The transfer of own shares was implemented as a directed share issue without consideration based on the authorization granted by the Annual General Meeting of Shareholders on 28 March 2023. The number of treasury shares after the transfer was 997,525 shares.",
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"f1__s7__6__107": {
"value": "Other reservesReserve fund comprises of restricted reserves other than share capital.The reserve of invested unrestricted equity includes other equity-related investments and that part of the share subscription price that has not specifically been allocated to share capital.Fair value and other reserves mainly consist of fair value reserves. Fair value reserves include the effective portion of the change in fair value of derivative financial instruments that are designated as and qualify for cash flow hedges and net change of other investments at fair value, which are recognized in other comprehensive income. Other reserves include share of other comprehensive income of investments accounted for using the equity method.Actuarial gains and losses includes the remeasurements of defined benefit plans.Translation differences include exchange differences arising from the translation of the net investment in foreign entities on consolidation, change in the fair value of currency instruments designated as hedges of the net investment, and exchange differences resulting from the translation of income statement of foreign entities at the average exchange rates and balance sheet at the closing rates.",
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"f1__s7__6__108": {
"value": "21 Financial liabilitiesAccounting policyFinancial liabilities are classified at amortized cost (except derivative financial liabilities whose accounting policy is presented at Note 19 Derivative financial instruments). Financial liabilities measured at amortized cost are recognized initially at fair value, net of transaction costs and subsequently measured at amortized cost using the effective interest method. Liabilities are recognized on the date when the entity becomes a party to the contractual provisions of the instrument. Any difference between net proceeds and nominal amount is recognized as interest cost over the period of the borrowing using the effective interest method. Financial liabilities are included in non-current liabilities, except for items with maturities less than 12 months after the balance sheet date, which are included in current liabilities. A financial liability is derecognized when the related obligation is discharged, cancelled or expires.Bank overdrafts are recorded in current liabilities on the consolidated statement of financial position. Fees of revolving credit facility are capitalized and amortized over the period of the facility.The fair values of the listed bonds are driven from market quotations. The fair values of other interest-bearing liabilities at amortized cost are determined by using the discounted cash flow method employing market interest rates at the balance sheet date. Climate-related topicsNeste has a Green Finance Framework which is developed in alignment with the ICMA Green Bond Principles (GBP) 2021 (with June 2022 Appendix 1) and various loan market standards. In accordance with the Framework, Neste may issue Green bonds or loans and allocate the proceeds to eligible assets and projects. Eligible assets and projects must fall under the ICMA green project category of eco-efficient and circular economy adapted products, production technologies and processes or renewable energy. Each of Neste\u2019s eligible assets and projects satisfies this criteria as set out in the Neste\u2019s Green Finance Report published in 2024.Non-current financial liabilities 2025 2024 1)Bonds2,796 2,115 2)Loans from financial institutions1,147 1,327 3)Lease liabilities740 890Other loans 30 30Other non-current liabilities 32 32Total 4,745 4,394BS of which interest-bearing 4,713 4,362Other non-financial items included to other non-current liabilities 0 0Current financial liabilities 2025 2024Loans from financial institutions 265 253Commercial paper liabilities 0 3073)Lease liabilities 205 224Other loans 1 1Advances received 34 25Trade payables 1,653 1,475Other current liabilities 600 592Total 2,757 2,878BS of which interest-bearing 470 786Other non-financial items included to trade and other payables 153 921) On 13 March 2025, Neste issued a EUR 700 million green bond with 5-year maturity under its EMTN (Euro Medium Term Note) programme updated on 12 September 2024 and supplemented by the supplement dated 10 March 2025, and will pay a fixed coupon of 3.750 per cent. The proceeds from the issue will be allocated to Eligible Projects and Assets as set out in Neste Corporation\u2019s Green Finance Framework 2024. 2) In October 2025, Neste signed two term loan agreements, each EUR 250 million with maturity in October 2028, to refinance a total of EUR 500 million of debt. Neste has signed three green term loan agreements totaling EUR 550 million in 2024. The proceeds of the loans will be used to finance Eligible Assets and Projects in accordance with Neste\u2019s Green Finance Framework. The loans have a tenor of 2-6 years. Maturities of the loans are disclosed in Note 3 Financial risk management.3) Refer to Note 29 Leases.The fair values of financial liabilities can be found in Note 16 Financial assets and liabilities by measurement category. Re-pricing periods of interest-bearing liabilities are disclosed in Note 3 Financial risk management, section \u2018Market risks\u2019.Listed bond issuesInterest Interest Nominal Carrying Issued/Maturitybasisrate, % Currencyamountamount2021/2028 Fixed 0.750 EUR 500 4982023/2029 Fixed 3.875 EUR 500 4982023/2031 Fixed 3.875 EUR 600 6002023/2033 Fixed 4.250 EUR 500 5052025/2030 Fixed 3.750 EUR 700 695Total 2,800 2,796Supplier finance arrangementsNeste has entered a supplier finance arrangements under which the supplier may elect to receive early payment from the financial institution by selling its receivables from Neste. The principal purpose of this arrangement is to facilitate efficient payment processing and provide access to the supplier finance. The payment terms with the suppliers have generally been extended up to 90 days. The obligations to suppliers, including amounts due, are not impacted.Neste has not derecognized the original trade payables relating to the arrangement because neither a legal release was obtained nor was the original liability substantially modified on entering into the arrangement.From the Neste\u2019s perspective, the arrangements extend to some extent payment terms beyond the normal terms agreed with other suppliers that are not participating; however the arrangement does provide willing suppliers with the benefit of early payment. Additionally, Neste does not incur any additional interest towards the financial institution on the amounts due to the suppliers. Neste therefore includes the amounts subject to the arrangement within trade payables because the nature and function of these payables remains the same as those of other trade payables. All payables under the arrangements are classified as current liabilities as at 31 December 2025 and 2024.Carrying amount of financial liabilities 2025 2024Presented in trade and other payables: 291 145\u2013 of which suppliers have received payment from finance provider 272 125Range of payment due dates 2025 2024Liabilities that are part of the supplier finance arrangements 90 days 90 daysComparable trade payables that are not part of the supplier finance arrangements 5\u201330 days 5\u201330 daysThere were no significant non-cash changes in the carrying amount of financial liabilities subject to supplier finance arrangements. The payments to the financial institution are included within operating cash flows because they continue to be part of the normal operating cycle of Neste and their principal nature remains operating like payments for the purchase of goods and services. For additional information about how these arrangements affect Neste\u2019s exposure to liquidity risk, see Note 3 Financial risk management.",
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"f1__s7__6__109": {
"value": "Accounting policyFinancial liabilities are classified at amortized cost (except derivative financial liabilities whose accounting policy is presented at Note 19 Derivative financial instruments). Financial liabilities measured at amortized cost are recognized initially at fair value, net of transaction costs and subsequently measured at amortized cost using the effective interest method. Liabilities are recognized on the date when the entity becomes a party to the contractual provisions of the instrument. Any difference between net proceeds and nominal amount is recognized as interest cost over the period of the borrowing using the effective interest method. Financial liabilities are included in non-current liabilities, except for items with maturities less than 12 months after the balance sheet date, which are included in current liabilities. A financial liability is derecognized when the related obligation is discharged, cancelled or expires.Bank overdrafts are recorded in current liabilities on the consolidated statement of financial position. Fees of revolving credit facility are capitalized and amortized over the period of the facility.The fair values of the listed bonds are driven from market quotations. The fair values of other interest-bearing liabilities at amortized cost are determined by using the discounted cash flow method employing market interest rates at the balance sheet date. Climate-related topicsNeste has a Green Finance Framework which is developed in alignment with the ICMA Green Bond Principles (GBP) 2021 (with June 2022 Appendix 1) and various loan market standards. In accordance with the Framework, Neste may issue Green bonds or loans and allocate the proceeds to eligible assets and projects. Eligible assets and projects must fall under the ICMA green project category of eco-efficient and circular economy adapted products, production technologies and processes or renewable energy. Each of Neste\u2019s eligible assets and projects satisfies this criteria as set out in the Neste\u2019s Green Finance Report published in 2024.",
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"f1__s7__6__110": {
"value": "Listed bond issuesInterest Interest Nominal Carrying Issued/Maturitybasisrate, % Currencyamountamount2021/2028 Fixed 0.750 EUR 500 4982023/2029 Fixed 3.875 EUR 500 4982023/2031 Fixed 3.875 EUR 600 6002023/2033 Fixed 4.250 EUR 500 5052025/2030 Fixed 3.750 EUR 700 695Total 2,800 2,796Supplier finance arrangementsNeste has entered a supplier finance arrangements under which the supplier may elect to receive early payment from the financial institution by selling its receivables from Neste. The principal purpose of this arrangement is to facilitate efficient payment processing and provide access to the supplier finance. The payment terms with the suppliers have generally been extended up to 90 days. The obligations to suppliers, including amounts due, are not impacted.Neste has not derecognized the original trade payables relating to the arrangement because neither a legal release was obtained nor was the original liability substantially modified on entering into the arrangement.From the Neste\u2019s perspective, the arrangements extend to some extent payment terms beyond the normal terms agreed with other suppliers that are not participating; however the arrangement does provide willing suppliers with the benefit of early payment. Additionally, Neste does not incur any additional interest towards the financial institution on the amounts due to the suppliers. Neste therefore includes the amounts subject to the arrangement within trade payables because the nature and function of these payables remains the same as those of other trade payables. All payables under the arrangements are classified as current liabilities as at 31 December 2025 and 2024.Carrying amount of financial liabilities 2025 2024Presented in trade and other payables: 291 145\u2013 of which suppliers have received payment from finance provider 272 125Range of payment due dates 2025 2024Liabilities that are part of the supplier finance arrangements 90 days 90 daysComparable trade payables that are not part of the supplier finance arrangements 5\u201330 days 5\u201330 daysThere were no significant non-cash changes in the carrying amount of financial liabilities subject to supplier finance arrangements. The payments to the financial institution are included within operating cash flows because they continue to be part of the normal operating cycle of Neste and their principal nature remains operating like payments for the purchase of goods and services. For additional information about how these arrangements affect Neste\u2019s exposure to liquidity risk, see Note 3 Financial risk management.",
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"value": "22 ProvisionsAccounting policyA provision is recognized in the consolidated statement of financial position when Neste has a present legal or constructive obligation as a result of a past event, and it is probable that the obligation will result in payment, and the amount of payment can be estimated reliably. Provisions can arise from environmental risks, litigation, restructuring plans or onerous contracts.The nature of certain Neste\u2019s businesses exposes Neste to risks of environmental costs and potential contingent liabilities. The risks arise from the manufacture, use, storage, disposal and maritime and inland transport as well as sale of materials that may be considered to be contaminants when released into the environment. Liability may also arise through the acquisition, ownership or operation of properties or businesses. Environmental provisions are recorded based on current interpretations of environmental laws and regulations when the conditions referred to above are met. Neste has decommissioning and restoration provisions recorded in the consolidated statement of financial position.Where there are a number of similar obligations, the likelihood that an outflow of resources will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item in the same class of obligations may be small.Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognized as an interest expense.Estimates and judgements requiring management estimationThe recognition of a provision requires management\u2019s judgment to determine if a present obligation exists as a result of a past event and whether an outflow of resources is probable. The amount recognized represents the best estimate of the expenditure required to settle the obligation at the reporting date or to transfer it to a third party, taking into account the risks and uncertainties surrounding the obligation. These estimates are based on historical experience of similar events and, where applicable, the opinion of external experts. Estimates may differ from the actual future amount of the obligation and with respect to the existence of the obligation. In addition to the provisions recognized, there are some off-balance-sheet contingent liabilities for which the likelihood, timing and magnitude of an outflow of resources cannot be estimated reliably. The carrying amounts of provisions are reviewed regularly and adjusted when needed to consider changes in cost estimates, regulations, applied technologies and conditions.The most significant provisions in the consolidated statement of financial position relate to environmental liabilities. Environmental provisions are based on management\u2019s best estimate of remediation costs discounted to its present value where the effect of the time value of money is material. The restructuring provision is recognized when Neste has prepared a detailed restructuring plan and published it. Provision to Environmental Restructuring return emission Other provisionsprovisionsallowancesprovisions TotalBS On 1 January 2025 121 2 0 21 144Additions 6 17 63 7 94Amounts used during the period -5 -19 -28 -3 -55Reversed unused provisions 0 0 0 0 0Changes in the discount rate and inflation assumption -17 0 0 0 -17BS On 31 December 2025 105 0 35 25 165Provision to Environmental Restructuring return emission Other provisionsprovisionsallowancesprovisions TotalBS On 1 January 2024 177 0 0 10 187Additions 2 14 89 16 121Amounts used during the period -6 -12 -89 -3 -110Reversed unused provisions -46 0 0 -2 -48Changes in the discount rate and inflation assumption -5 0 0 0 -5BS On 31 December 2024 121 2 0 21 144Environmental provisions consist mostly of the Naantali refinery\u2019s shutdown provision and provisions for decommissioning and restoration of retail stations and refineries. The provision related to Naantali refinery\u2019s shutdown is expected to be realised before the year 2032. Decommissioning and restoration obligations are mainly expected to be realized within the next 30 to 50 years. Neste recognizes a provision for the expected costs of decommissioning and site restoration of retail stations and refineries, representing the obligation to return the site to its original condition. The provisions are to be discounted, where the effect of the time value of money is material.The environmental provision related to Naantali refinery\u2019s shutdown was reduced by 46 million euros during 2024 based on an action plan updated in line with the assessment of the situation and research findings.Restructuring provisions are related to the organizational change process completed on April 7, 2025.The order subject to a penalty imposed by the authorities in 2024 on the Rotterdam refinery related to flaring has been suspended in a legal injunction procedure in December 2025. Neste is applying for amendment to the environmental permit on this topic. Investigations initiated by the authorities during 2023 and 2024 concerning Rotterdam refinery\u2019s flaring and volatile organic compound (VOC) emissions are still pending. A provision relating to this has been recorded within \u2018Other provisions\u2019. The order had no material impact on the financial statements. Climate-related matters do not have material impact on provisions, excluding emission allowances, which are described further below.The exchange rate difference relating to Neste\u2019s provisions is immaterial. Emission allowances Neste Finland Refinery in Porvoo and Neste Shipping operations fall within the scope of the European Union\u2019s greenhouse gas emission trading system. Neste is granted a total of 2.0 million tons emission allowances for 2025. In addition to own operations, Neste purchases allowances to cover certain emissions of the local partners who provide utility services to Neste. A provision is recognized for the cost of purchasing additional emission allowances if the actual emissions exceed the total of those received for free and those already purchased. Emission allowances, which are purchased to cover future periods deficit are accounted for as intangible assets and measured at cost, and emission allowances received free of charge are accounted for at nominal value, i.e. at zero. As at 31 December 2025 estimated obligation to purchase emission allowances amounted to EUR 35 million (31 December 2024: EUR 0 million). Neste purchases these emission allowances during 2026. The actual amount of CO2 emissions in 2025 were 3.0 million tons (2024: 2.6 million tons) in total. The Group has traded emission allowances for net amount of 0.5 million tons during the financial period ended 31 December 2025 (2024: 0.6 million tons).",
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"f1__s7__6__112": {
"value": "Accounting policyA provision is recognized in the consolidated statement of financial position when Neste has a present legal or constructive obligation as a result of a past event, and it is probable that the obligation will result in payment, and the amount of payment can be estimated reliably. Provisions can arise from environmental risks, litigation, restructuring plans or onerous contracts.The nature of certain Neste\u2019s businesses exposes Neste to risks of environmental costs and potential contingent liabilities. The risks arise from the manufacture, use, storage, disposal and maritime and inland transport as well as sale of materials that may be considered to be contaminants when released into the environment. Liability may also arise through the acquisition, ownership or operation of properties or businesses. Environmental provisions are recorded based on current interpretations of environmental laws and regulations when the conditions referred to above are met. Neste has decommissioning and restoration provisions recorded in the consolidated statement of financial position.Where there are a number of similar obligations, the likelihood that an outflow of resources will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item in the same class of obligations may be small.Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognized as an interest expense.",
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"f1__s7__6__116": {
"value": "Accounting policyNeste has pension arrangements in different countries, which are generally funded through insurance companies. Pension cover is based on the legislation and agreement in force in each country. Pension schemes consist of both defined contribution plans and defined benefit plans. Finnish statutory pensions are accounted for as a defined contribution plan in the consolidated financial statements.Contributions to the defined contribution plans are charged directly to the consolidated statement of income in the year to which these contributions relate. In defined contribution plans, Neste has no legal or contractive obligations to pay further contributions in case the payment recipient is unable to pay the retirement benefits. All arrangements that do not fulfill these conditions are considered defined benefit plans. In defined benefit plans, after Neste has paid the amount for the period, an excess or deficit may result. The defined benefit obligation represents the present value of future cash flows from payable benefits, which are calculated for by using the projected unit credit method. The discount rate assumed in calculating the present value of the pension obligation is based on the market yield of high-quality corporate bonds (AA-rated) with appropriate maturities. Pension costs are recognized in the consolidated statement of income so as to spread the current service cost over the service lives of employees based on external calculations. The net interest is included as part of the finance cost in the consolidated statement of income. The liability (or asset) recognized in the consolidated statement of financial position is the pension obligation at the closing date less the fair value of plan assets. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Actuarial valuations for Neste\u2019s defined benefit pension plans are performed annually.",
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"value": "24 Share-based paymentsAccounting policyNeste\u2019s share-based incentive plans include a net settlement feature, i.e., share-based payments are settled net in shares after withholding taxes, and thus they are accounted for as fully equity settled plans. The compensation expense for the shares is recognized as an employee benefit expense evenly during the required service period whereas the compensation expense resulting from the cash portion is recognized as an employee benefit expense on accrual basis between grant and payment date. The entire transaction is measured at fair value prevailing on the grant date of the share-based incentive plan and the amounts recognized in the consolidated statement of income are accumulated in equity. The difference realized upon the settlement date is also accounted for against equity.The purpose of Neste\u2019s share-based long-term incentive plans is to drive long-term sustainable growth and align the interests of executives with shareholders. The Board annually selects the members of Neste\u2019s senior management and other key employees to participate in the long-term incentive plans.Neste applies a share ownership policy to the members of the Neste Leadership Team (NLT). According to the policy, each member of the NLT is expected to retain in his/her ownership at least half of the shares received under the share-based incentive programs of Neste until the value of his/her share ownership in Neste corresponds to at least his/her annual gross base salary.The amount of rewards payable to participants based on Neste\u2019s long-term incentive scheme is limited by a share price development-based pay cap, the level of which the Board of Directors sets. The level of the pay cap in the ongoing plans is two times the share price which prevailed at the beginning of the plan period. If Neste share price more than doubles during the plan, the exceeding value of the payable rewards will not be paid to the plan participants.Share-based incentive plan as of 1 January 2025The Board of Directors of Neste Corporation decided on 12 June 2025 on the continuation of the share-based long-term incentive scheme for selected members of Neste\u2019s management and key employees. The decision includes a Performance Share Plan (PSP) as the main structure and a Restricted Share Plan (RSP) as a complementary structure for specific situations. The Performance Share Plan consists of three annually commenced individual performance share plans, each with a three-year performance period, followed by the payment of the potential share reward. The three plans commenced as of the beginning of the years 2025, 2026 and 2027. The commencement of each individual plan is subject to a separate Board approval in each case.The potential reward will be paid in shares of Neste (deducted with the applicable payroll tax), provided that the performance target set by the Board of Directors is achieved. For award plan cycles commencing in 2025 (PSP 2025\u20132027), 2026 (PSP 2026\u20132028) and 2027 (PSP 2027\u20132029), the performance measures are Renewable Fuels Sales Volume and Neste comparable ROACE.The Restricted Share Plan consists of annually commencing individual restricted share plans and Neste may during the plan period grant fixed share rewards to individually selected key employees. The rewards are paid at the latest after the end of the restriction period during H1 of the fourth year of the individual plan. The rewards are paid in listed shares of Neste Corporation (deducted with the applicable payroll tax). A precondition for the payment of the share reward based on the Restricted Share Plan is that the employment or service of the individual with Neste continues until the payment date of the reward.Share-based incentive plan as of 1 January 2022The Board of Directors of Neste Corporation decided on 9 February 2022 to establish a share-based long-term incentive scheme for selected members of Neste\u2019s management and key employees. The decision includes a Performance Share Plan (PSP) as the main structure and a Restricted Share Plan (RSP) as a complementary structure for specific situations. The Performance Share Plan consists of three annually commenced individual performance share plans, each with a three-year performance period, followed by the payment of the potential share reward. The three plans commenced as of the beginning of the years 2022, 2023 and 2024.The potential reward will be paid in shares of Neste (deducted with the applicable payroll tax), provided that the performance target set by the Board of Directors is achieved. For award plan cycles commenced in 2022 (PSP 2022\u20132024), 2023 (PSP 2023\u20132025) and 2024 (PSP 2024\u20132026), the performance measures are relative total shareholder return and Neste\u2019s combined greenhouse gas (GHG) impact. The combined GHG impact includes GHG emission reductions achieved with Neste renewable products by customers and GHG emissions from Neste production. These GHG-related targets are directly linked to Neste\u2019s key climate commitments.The Restricted Share Plan consists of annually commenced individual restricted share plans and Neste may during the plan period grant fixed share rewards to individually selected key employees. The rewards are paid at the latest after the end of the restriction period during H1 of the fourth year of the individual plan. The rewards are paid in listed shares of Neste Corporation (deducted with the applicable payroll tax). A precondition for the payment of the share reward based on the Restricted Share Plan is that the employment or service of the individual with Neste continues until the payment date of the reward.During the financial period 2025, under the share-based incentive plans PSP 2022\u20132024, RSP 2022\u20132024, RSP 2023\u20132025 and RSP 2024\u20132026, total gross reward of 151,075 shares equaling EUR 2.0 million was awarded to the participants of the plans. The net amount of shares delivered totalled 58,325 shares and the rest of the reward was paid in cash to cover taxes and other regulatory charges. The fair value of the share as of the delivery date was EUR 8.98 (12 March 2025) and EUR 18.07 (31 October 2025). The members of Neste\u2019s Leadership Team received a gross reward corresponding to 79,587 shares.More specific information on the share-based incentive plans is presented in the following tables.Plan Long-Term Incentive Plan 2025 Long-Term Incentive Plan 2022Type Share allocation Share allocationInstrument PSP 2025\u20132027 RSP 2025\u20132027 PSP 2024\u20132026 RSP 2024\u20132026 PSP 2023\u20132025 RSP 2023\u20132025 PSP 2022\u20132024 RSP 2022\u20132024Grant dates 23 Jun 2025 23 Jun 2025 20 Feb 2024 12 May 2025 11 Jan 2023 1 Sep 2023 11 Feb 2022 11 May 2022Grant prices, euros 11.17 11.17 23.99 9.18 40.36 30.06 35.14 36.58Share price as at grant date, euros 11.72 11.72 27.55 9.55 44.98 34.07 37.97 39.40Beginning of earnings period 1 Jan 2025 1 Jan 2025 1 Jan 2024 1 Jan 2024 1 Jan 2023 1 Jan 2023 1 Jan 2022 1 Jan 2022End of earnings period 31 Dec 2027 31 Dec 2027 31 Dec 2026 31 Dec 2026 31 Dec 2025 31 Mar 2026 31 Dec 2024 31 Mar 2025Vesting date 31 Mar 2028 31 Mar 2028 31 Mar 2027 31 Mar 2027 31 Mar 2026 31 Mar 2026 31 Mar 2025 31 Mar 2025Changes during the period, share allocation Shares Shares Shares Shares Shares Shares Shares SharesOutstanding at the beginning of the reporting period, pcs 0 0 437,817 0 286,689 4,500 270,614 75,800Granted during the period 1,725,194 28,000 10,400 19,243 3,000 34,180 0 53,700Forfeited during the period 32,100 0 72,310 0 45,702 1,500 265,462 6,000Excercised during the period 0 0 0 3,743 0 18,680 5,152 123,500Outstanding at the end of the period, pcs 1,693,094 28,000 375,907 15,500 243,987 18,500 0 0Number of persons at the end of the reporting year 105 7 100 1 95 2 0 0Share price at the end of the reporting period, euros 19.41 19.41 19.41 19.41 19.41 19.41 12.13 12.13Estimated rate of realization of the earnings criteria, % 50% 100% 17% 100% 46% 100% 27% 100%Estimated termination rate before the end of the restriction period, % 10% 0% 0% 0% 0% 0% 0% 0%Fair value determination The fair value of share-based incentives have been determined at grant date and the fair value is expensed until vesting. The grant price, i.e., fair value as of the grant date, has been determined as follows: grant price equals the share price as at grant date deducted by expected dividends payable during the earning period. For plans under the Long-Term Incentive Plan 2022, which include market based criteria, the fair value estimation is calculated using the Monte Carlo simulation with Geometric Brownian Motion. The simulation requires some parameters, such as volatility and the risk-free rate to be estimated.The expense included in the consolidated statement of income is specified in the following table:2025 2024Expense arising from equity-settled share-based payment transactions 5 5Total expense arising from share-based payment transactions 5 5At the end of the period the estimated future cash payments to be paid to the tax authorities from share-based payments are EUR 10 million (2024: EUR 4 million).",
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"value": "Accounting policyNeste\u2019s share-based incentive plans include a net settlement feature, i.e., share-based payments are settled net in shares after withholding taxes, and thus they are accounted for as fully equity settled plans. The compensation expense for the shares is recognized as an employee benefit expense evenly during the required service period whereas the compensation expense resulting from the cash portion is recognized as an employee benefit expense on accrual basis between grant and payment date. The entire transaction is measured at fair value prevailing on the grant date of the share-based incentive plan and the amounts recognized in the consolidated statement of income are accumulated in equity. The difference realized upon the settlement date is also accounted for against equity.",
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"value": "25 Related party transactionsNeste is controlled by the State of Finland, which owns 44.2% of the company\u2019s shares. The remaining 55.8% of shares are widely held.Neste has a related party relationship with its subsidiaries, associates, joint arrangements and the entities controlled by Neste\u2019s controlling shareholder, the State of Finland. Related parties also include the members of the Board of Directors, the President and CEO and other members of the Neste Leadership Team (key management persons), close members of the families of the mentioned key management persons and entities controlled or jointly controlled by the mentioned key management persons or close members of those persons\u2019 families.Subsidiaries, associates and joint arrangements are presented in Note 26 Group companies.Parent company of Neste is Neste Corporation. The transactions between Neste, its subsidiaries and joint operations, which are related parties of the company, have been eliminated during consolidation and are not disclosed in this Note. All transactions between Neste and other companies controlled by the State of Finland are on an arm\u2019s length basis. Details of transactions between Neste and other related parties are disclosed below. Transactions carried out with related partiesSales of Purchases of Financial goods and goods and income and 2025servicesservicesexpense Receivables LiabilitiesAssociates and joint ventures 103 97 6 141 9Other related parties 162 195 0 1 0265 292 6 142 9Sales of Purchases of Financial goods and goods and income and 2024servicesservicesexpense Receivables LiabilitiesAssociates and joint ventures 106 107 6 142 11Other related parties 210 234 0 2 0316 341 6 144 11There were no material transactions with key management persons or entities controlled by them. The major part of business between Neste and its joint ventures was with Kilpilahti Power Plant Ltd. Neste\u2019s transactions with Kilpilahti Power Plant Ltd consisted mainly of steam purchases and sales of heavy fuel oil, water and asphaltene. The steam supply agreement includes a fixed annual fee of EUR 48 million until 2037. Board of Directors and key management compensationEUR thousand 2025 2024Salaries and other short-term employee benefits 3,541 5,370Termination benefits 0 2,657Statutory pensions 438 685Supplementary pensions 676 582Share-based payments 1,420 414Total 6,075 9,709Key management consists of President and CEO and other members of the Neste Leadership Team. There were no outstanding loan receivables from key management on 31 December 2025 or 31 December 2024.Compensation to President and CEO and members of the Neste Leadership TeamMembers of the President President Neste Leadership and CEOand CEO 1)TeamHeikkiMatti TotalEUR thousand2025MalinenLehmus2024 20252024Annual remunerationBase salary 1,189 245 743 987 1,340 1,974Taxable benefits 11 3 12 15 30 77Annual incentive (STI plan) 11 0 501 501 43 897Total annual remuneration 1,212 248 1,256 1,504 1,413 2,948Termination benefits 0 0 1,365 1,365 0 1,292Vested long term remunerationSupplementary pension (insurance contributions) 252 51 119 170 424 412Share-based incentive plan 1,376 0 15 15 45 399Total remuneration 2,839 299 2,755 3,054 1,882 5,0521) Includes the Neste Executive Committee (active until Oct 28, 2024) and the new Neste Leadership TeamCompensation to the Board of DirectorsEUR thousand 2025 2024Board of Directors at 31 December 2025Pasi Laine, since 27 March 2024 190 79John Abbott 111 93Nick Elmslie 104 95Anna Hyv\u00f6nen, since 25 March 2025 91 0Just Jansz 98 89Essimari Kairisto, since 25 March 2025 110 0Conrad Keijzer, since 27 March 2024 101 85Sari Mannonen, since 27 March 2024 99 83Former Board membersMatti K\u00e4hk\u00f6nen, until 25 March 2025 3 158Heikki Malinen, until 13 June 2024 0 29Eeva Sipil\u00e4, until 13 February 2025 4 102Johanna S\u00f6derstr\u00f6m, until 25 March 2025 6 101Kimmo Viertola, until 27 March 2024 0 4Board of Directors, all members total 917 918Compensation to the Board of Directors include annual remuneration and meeting fee paid to each member of the Board for each meeting attended as well as for any meetings of the Board committees attended. Board members are not covered by the company\u2019s remuneration systems and do not receive any performance or share related payments.The CEO\u2019s notice of termination period is 6 months on both sides. Should the company decide to give notice of termination, the President & CEO shall be entitled to his salary during the 6 months period of notice, together with a severance payment equivalent to 6 months\u2019 salary. The supplementary pension of the President and CEO is a defined contribution (DC) plan with an annual contribution of 20% of the fixed annual salary and a retirement age of 66 years.Net liability of defined benefit plans of former Presidents and CEOs on 31 December 2025 were EUR 859 thousand (2024: EUR 978 thousand).",
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"f1__s7__6__123-1": {
"value": "Subsidiaries Group holding % Country of incorporationB J B, LLC 100.00% USAKiinteist\u00f6 Oy Espoon Keilaranta 21 100.00% FinlandMahoney Environmental Solutions, LLC 100.00% USAMahoney Transportation Services LLC 100.00% USANavidom Oy 50.00% FinlandNERM Solutions India Private Limited 100.00% IndiaNeste (Shanghai) Trading Company Limited 100.00% ChinaNeste (Suisse) S.A. 100.00% SwitzerlandNeste AB 100.00% SwedenNeste Asia Pacific Pte. Ltd 100.00% SingaporeNeste Australia Pty Ltd 100.00% AustraliaNeste Belgium NV 100.00% BelgiumNeste Brazil LTDA 100.00% BrazilNeste Canada Inc. 100.00% CanadaNeste Components B.V. 100.00% The Netherlands1)Neste Demeter B.V. 80.00% The NetherlandsNeste Eesti AS 100.00% EstoniaNeste Germany GmbH 100.00% GermanyNeste Insurance Limited 100.00% GuernseyNeste Markkinointi Oy 100.00% FinlandNeste Netherlands B.V. 100.00% The NetherlandsNeste Pretreatment Rotterdam B.V. 100.00% The NetherlandsNeste Renewable Products Inc. 100.00% USANeste Renewable Solutions US, Inc. 100.00% USANeste RPC Solutions US, Inc. 100.00% USANeste Shipping Oy 100.00% FinlandNeste Singapore Pte. Ltd. 100.00% SingaporeNeste Spain S.L. 100.00% SpainNeste Terminal Rotterdam B.V. 100.00% The NetherlandsNeste US, Inc. 100.00% USASubsidiaries Group holding % Country of incorporationNeste Walco Limited 100.00% IrelandSIA Neste Latvija 100.00% LatviaSterling Logistics, LLC 100.00% USAUAB Neste Lietuva 100.00% Lithuania1) Neste increased its ownership in its subsidiary Neste Demeter B.V. on November 1, 2023 and the entity has been treated as a 100% owned subsidiary in the Group. In addition, Neste has an obligation to redeem the remaining non-controlling interest of Neste Demeter within an agreed period, thus the share of the non-controlling interest has not been recognized in the consolidated statement of financial position. The obligation has been measured at fair value and recorded as a liability in the consolidated statement of financial position.",
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"f1__s7__6__122": {
"value": "26 Group companiesSubsidiaries Group holding % Country of incorporationB J B, LLC 100.00% USAKiinteist\u00f6 Oy Espoon Keilaranta 21 100.00% FinlandMahoney Environmental Solutions, LLC 100.00% USAMahoney Transportation Services LLC 100.00% USANavidom Oy 50.00% FinlandNERM Solutions India Private Limited 100.00% IndiaNeste (Shanghai) Trading Company Limited 100.00% ChinaNeste (Suisse) S.A. 100.00% SwitzerlandNeste AB 100.00% SwedenNeste Asia Pacific Pte. Ltd 100.00% SingaporeNeste Australia Pty Ltd 100.00% AustraliaNeste Belgium NV 100.00% BelgiumNeste Brazil LTDA 100.00% BrazilNeste Canada Inc. 100.00% CanadaNeste Components B.V. 100.00% The Netherlands1)Neste Demeter B.V. 80.00% The NetherlandsNeste Eesti AS 100.00% EstoniaNeste Germany GmbH 100.00% GermanyNeste Insurance Limited 100.00% GuernseyNeste Markkinointi Oy 100.00% FinlandNeste Netherlands B.V. 100.00% The NetherlandsNeste Pretreatment Rotterdam B.V. 100.00% The NetherlandsNeste Renewable Products Inc. 100.00% USANeste Renewable Solutions US, Inc. 100.00% USANeste RPC Solutions US, Inc. 100.00% USANeste Shipping Oy 100.00% FinlandNeste Singapore Pte. Ltd. 100.00% SingaporeNeste Spain S.L. 100.00% SpainNeste Terminal Rotterdam B.V. 100.00% The NetherlandsNeste US, Inc. 100.00% USASubsidiaries Group holding % Country of incorporationNeste Walco Limited 100.00% IrelandSIA Neste Latvija 100.00% LatviaSterling Logistics, LLC 100.00% USAUAB Neste Lietuva 100.00% LithuaniaAssociates Group holding % Country of incorporationAlterra Energy LLC 29.50% USANeste Arabia Co. Ltd. (inactive) 48.00% Saudi ArabiaCountry of Joint arrangements Group holding % ClassificationincorporationA/B Svarts\u00e5 Vattenverk - Mustijoen Vesilaitos O/Y 40.00% Joint operation FinlandKilpilahti Power Plant Ltd 40.00% Joint venture FinlandMartinez Renewables LLC 50.00% Joint operation USA1) Neste increased its ownership in its subsidiary Neste Demeter B.V. on November 1, 2023 and the entity has been treated as a 100% owned subsidiary in the Group. In addition, Neste has an obligation to redeem the remaining non-controlling interest of Neste Demeter within an agreed period, thus the share of the non-controlling interest has not been recognized in the consolidated statement of financial position. The obligation has been measured at fair value and recorded as a liability in the consolidated statement of financial position. Specification of financial information on subsidiaries with material non-controlling interestsNavidom Oy2025 2024Proportion of shares held by non-controlling interests 50.00% 50.00%Current assets 0 0Non-current assets 0 0Current liabilities 0 0Non-current liabilities 0 0Revenue 1 1Profit for the period 0 0Dividends paid to non-controlling interests 0 0Cash flows from operating activities 0 0Cash flows from financing activities 0 0Unconsolidated structured entitiesIn 2015, Neste sold its shares of Aurora Kilpilahti Oy (former Kilpilahden S\u00e4hk\u00f6nsiirto Oy). After the sale Neste does not have direct or indirect investment in the company. Aurora Kilpilahti Oy is responsible for high- and medium-voltage electricity distribution in the Kilpilahti industrial area where Neste\u2019s refinery in Porvoo, Finland, is situated. In addition to Neste, Aurora Kilpilahti Oy\u2019s customers include other companies operating in the area.Under the contractual arrangements with Aurora Kilpilahti Oy Neste has been supplying small and decreasing part of the operating services needed in electricity distribution. It can be considered that Neste has the possibility to influence only limited development investments made by Aurora Kilpilahti Oy. Aurora Kilpilahti Oy distributes electricity to Neste and Neste remains to be the main user of the capacity of the electricity distribution network. Aurora Kilpilahti Oy operates on land leased from Neste for 30 years with an option to extend the lease. Neste has not provided any financial support or other significant support to Aurora Kilpilahti Oy without contractual obligation.Based on the factors described above Neste has determined that it has limited influence though no control over Aurora Kilpilahti Oy and treats the company as unconsolidated structured entity in its consolidated financial statements. Management has assessed the company\u2019s exposure to losses by considering the nature of Neste\u2019s involvement in Aurora Kilpilahti Oy, and the company\u2019s significance to Neste from an operative perspective. Neste\u2019s exposure is mainly dependent upon the efficient operation of the distribution network.Consolidated structured entitiesSince 2014, Neste has treated the vessels\u2019 long-term agreements made with Ilmarinen Mutual Pension Insurance Company and Finland\u2019s National Emergency Supply Agency as structured entities. As a part of these arrangements, Neste guarantees the vessels\u2019 residual value and certain return on the investors\u2019 investments.",
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"value": "Associates Group holding % Country of incorporationAlterra Energy LLC 29.50% USANeste Arabia Co. Ltd. (inactive) 48.00% Saudi ArabiaCountry of",
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"f1__s7__6__127": {
"value": "Specification of financial information on subsidiaries with material non-controlling interestsNavidom Oy2025 2024Proportion of shares held by non-controlling interests 50.00% 50.00%Current assets 0 0Non-current assets 0 0Current liabilities 0 0Non-current liabilities 0 0Revenue 1 1Profit for the period 0 0Dividends paid to non-controlling interests 0 0Cash flows from operating activities 0 0Cash flows from financing activities 0 0",
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"value": "Unconsolidated structured entitiesIn 2015, Neste sold its shares of Aurora Kilpilahti Oy (former Kilpilahden S\u00e4hk\u00f6nsiirto Oy). After the sale Neste does not have direct or indirect investment in the company. Aurora Kilpilahti Oy is responsible for high- and medium-voltage electricity distribution in the Kilpilahti industrial area where Neste\u2019s refinery in Porvoo, Finland, is situated. In addition to Neste, Aurora Kilpilahti Oy\u2019s customers include other companies operating in the area.Under the contractual arrangements with Aurora Kilpilahti Oy Neste has been supplying small and decreasing part of the operating services needed in electricity distribution. It can be considered that Neste has the possibility to influence only limited development investments made by Aurora Kilpilahti Oy. Aurora Kilpilahti Oy distributes electricity to Neste and Neste remains to be the main user of the capacity of the electricity distribution network. Aurora Kilpilahti Oy operates on land leased from Neste for 30 years with an option to extend the lease. Neste has not provided any financial support or other significant support to Aurora Kilpilahti Oy without contractual obligation.Based on the factors described above Neste has determined that it has limited influence though no control over Aurora Kilpilahti Oy and treats the company as unconsolidated structured entity in its consolidated financial statements. Management has assessed the company\u2019s exposure to losses by considering the nature of Neste\u2019s involvement in Aurora Kilpilahti Oy, and the company\u2019s significance to Neste from an operative perspective. Neste\u2019s exposure is mainly dependent upon the efficient operation of the distribution network.",
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"value": "27 Acquisitions and disposalsAcquisitionsNo major acquisitions took place in financial periods 2025 and 2024.DisposalsNo major disposals took place in financial periods 2025 and 2024.",
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"value": "Commitments 2025 2024Commitments for purchase of property, plant and equipment and intangible assets 291 585Other commitments 4 5Total 295 590Capital commitments are mainly related to the Rotterdam refinery expansion project in Netherlands.",
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"value": "Value of collateral Value of collateralContingent liabilities 2025 2024On own behalf for commitmentsReal estate mortgages 26 26Other contingent liabilities 16 24Total 42 50On behalf of joint arrangementsPledged assets 125 119Total 125 119On behalf of othersGuarantees 1 1Total 1 1Total 168 170The pledged assets on behalf of joint arrangements are granted to the secured creditors as continuing security for due and punctual payment, discharge and performance of all or any part of the secured obligations of Kilpilahti Power Plant Ltd. The pledged assets mean all shareholder loan receivables, all contribution loan receivables and the shares of Kilpilahti Power Plant Ltd. The security period ends on the date on which all the secured obligations have been unconditionally and irrevocably paid and discharged in full.",
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"value": "28 Contingencies and commitmentsValue of collateral Value of collateralContingent liabilities 2025 2024On own behalf for commitmentsReal estate mortgages 26 26Other contingent liabilities 16 24Total 42 50On behalf of joint arrangementsPledged assets 125 119Total 125 119On behalf of othersGuarantees 1 1Total 1 1Total 168 170The pledged assets on behalf of joint arrangements are granted to the secured creditors as continuing security for due and punctual payment, discharge and performance of all or any part of the secured obligations of Kilpilahti Power Plant Ltd. The pledged assets mean all shareholder loan receivables, all contribution loan receivables and the shares of Kilpilahti Power Plant Ltd. The security period ends on the date on which all the secured obligations have been unconditionally and irrevocably paid and discharged in full. Commitments 2025 2024Commitments for purchase of property, plant and equipment and intangible assets 291 585Other commitments 4 5Total 295 590Capital commitments are mainly related to the Rotterdam refinery expansion project in Netherlands.Take-or-pay contractsNeste has long-term supply agreements related to hydrogen, nitrogen, steam, natural gas and electricity. These agreements are generally take-or-pay by nature. In addition to minimum purchase obligations, agreements normally include termination fees if the contract is being terminated early. The probability of such circumstances is considered to be low.",
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"value": "29 LeasesAccounting policy Neste assesses at contract inception whether a contract is, or contains, a lease, i.e., if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.Neste as a lesseeNeste has lease contracts for various land areas, vessels, tanks, containers, facilities and other equipment used in its operations. Lease contracts are made for fixed periods of 1 to 82 years, the longest durations relating typically to land leases. Some leases include an option to extend the lease for an additional period after the end of the contract term or terminate the contract during the lease term.Neste recognizes a leased asset and a lease liability at the lease commencement date, except for short-term leases and leases of low-value assets.i) Right-of-use assetsNeste recognizes right-of-use assets on the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, any restoration obligations and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the lease term. If ownership of the leased asset transfers to Neste at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment.Neste\u2019s right-of-use assets are included in Property, plant and equipment (see Note 14 Property plant and equipment).ii) Lease liabilitiesAt the commencement date of the lease, Neste recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option that is reasonably certain to be exercised by Neste and payments of penalties for terminating the lease, if the lease term reflects Neste exercising the option to terminate.In calculating the present value of lease payments, Neste uses interest rate implicit in the lease if readily determinable and if not, Neste uses its incremental borrowing rate at the lease commencement date. This incremental borrowing rate is similar with the rate of interest that a lessee would have to pay to borrow over a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use assets in similar economic environment. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. Neste\u2019s lease liabilities are included in Interest-bearing liabilities (see Note 21 Financial liabilities).iii) Short-term leases and leases of low-value assetsNeste applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term.Neste as a lessorAt inception of a lease contract, Neste makes an assessment whether the lease is a finance lease or an operating lease. If the lease substantially transfers all the risks and rewards incidental to ownership of the asset, it is considered to be a finance lease; if not, the lease is considered to be an operating lease. Neste has a minor amount of operating lease contracts, whereby the lease payments are recognized on a straight-line basis over the lease term and is included in other income in the statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income.Estimates and judgements requiring management estimationNeste determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised.Neste has several lease contracts that include extension and termination options. Neste\u2019s management applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, Neste\u2019s management reassesses the lease term if there is a significant event or change in circumstances that is within its control and affects its ability to exercise or not to exercise the option to renew or to terminate.Neste\u2019s management applies judgement also for estimating the term of lease agreements in effect until further notice. The management\u2019s estimates are based on the company\u2019s strategic situation and market conditions, as well the costs that would incur if the leased asset would be replaced by another asset.Amounts recognized in the balance sheetThe balance sheet shows the following amounts relating to leases:Right-of-use assets Note 2025 2024Land 236 257Buildings and constructions 47 54Machinery and equipment 202 164Other tangible assets 462 629Total assets included in property, plant and equipment 948 1,104Lease liabilities Non-current interest-bearing liabilities 740 890Current interest-bearing liabilities 205 224Total liabilities included in interest-bearing liabilities 21 945 1,114Additions to the right-of-use assets during the 2025 financial year were EUR 254 million (2024: EUR 423 million).The maturity analysis of lease liabilities is disclosed in Note 3 Financial risk management.Amounts recognized in the statement of profit or lossThe statement of profit or loss shows the following amounts relating to leases:Depreciation charge of right-of-use assets Note 2025 2024Land 15 17Buildings and constructions 13 18Machinery and equipment 74 84Other tangible assets 174 181Total depreciation 276 299Finance costs in the statement of profit or loss Note 2025 2024Interest expense 10 55 60Included in materials and servicesExpense relating to short-term leases 7 20 17Variable lease payments not included in lease liabilities 7 0 0Included in other operating expensesExpense relating to short-term leases 9 10 10Expense relating to leases of low-value assets 9 1 1Variable lease payments not included in lease liabilities 9 5 3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"f1__s7__6__138": {
"value": "31 Events after the balance sheet dateNo significant events took place in Neste after the balance sheet date.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5493009GY1X8GQ66AM14",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
}
}
}