Neste Oil Corporation
Stock Exchange Release
25 September 2014 at 2.00 pm (EET)
Neste Oil to revise the way it calculates its comparable operating profit
Neste Oil has revised the method used to calculate its comparable operating profit and switched to using non-recurring items. The change will mean that comparable operating profit will reflect the underlying operating result of the company and its segments more accurately and will make comparing Neste Oil's profitability over different periods of time as transparent as possible.
Non-recurring items are linked to unpredictable events of a significant nature that do not form part of normal day-to-day business. They include among others impairment losses and reversals, gains and losses associated with the combination or termination of businesses, restructuring costs, and gains and losses on the sales of assets. Only items having an impact of more than EUR 1 million on Neste Oil's result will be classified as non-recurring items. A table of restated operating profit figures for 2012-2014 is enclosed. This change in accounting practice will not affect Neste Oil's consolidated IFRS result.
Neste Oil will start using the revised method for calculating its comparable operating profit from the Q3 2014 interim report onwards, due to be published on 23 October.
Neste Oil Corporation
Senior Vice President, Communications and Brand Marketing
Jyrki Mäki-Kala, Chief Financial Officer, tel. +358 10 458 4098
Attachment: Restated comparable operating profit figures for 2012-2014 (unaudited)
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com