Neste Oyj (NEF.F), an oil refining and marketing company, on Wednesday reported first-quarter results showing a turnaround in profitability compared with the same period last year.
Profit before tax was EUR 666 million, compared with a loss before tax of EUR 57 million a year earlier
Net profit came in at EUR 533 million, compared with a loss of EUR 40 million in the prior-year quarter, while earnings per share were EUR 0.69 versus a loss per share of EUR 0.05.
EBITDA rose to EUR 903 million from EUR 200 million a year earlier, supported by inventory valuation gains and higher comparable earnings.
Comparable EBITDA increased to EUR 861 EUR 210 million.
Revenue increased to EUR 5.163 billion from EUR 5.017 billion in the same period last year.
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