Neste Oyj Unsp/Adr (NTOIY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everybody, and welcome to discuss Neste's Q1 results that were published this morning. My name is Jukka Miettinen, Vice President of Investor Relations at Neste. Here with me, we have our CEO and President Heikki Malinen and our CFO, Eeva Sipilä. We are referring to the presentation that was launched on our website early this morning. The key highlights of our presentation include today – our position in the ongoing market volatility, our Q1 financial performance. We will also cover the status of our performance improvement program and the progress towards our financial targets. We are also discussing our near-term focus areas as well as the current opportunities and uncertainties. We will have time for discussions with all of you. And please pay attention to the disclaimer as we will be making forward-looking statements in this call. With these remarks, I would like to hand over to our president and CEO, Heikki Malinen. Heikki, please, the floor is yours. Thank you, Jukka. Good morning, good afternoon, everybody. Welcome also on my behalf to the Neste Q1 call. Really great to be here today again with Eva. Let's start with the summary for the first quarter. Five main highlights. Obviously, as we all know, we had tremendous market volatility originating from the Iran crisis, especially during the month of March. And I can say Neste, we feel, was able to manage through that volatility period pretty well. Our financial performance for the first quarter was really good. Looking at the levels we achieved, I'm very satisfied with your absolute profits. Our utilization in the RPE business was low. We'll come back to that. We could have done somewhat better. There's still work to be done. I'll talk about that. The execution of our performance improvement prog...