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Neste Oyj Financial Supplement Data 2013

Apr 18, 2013

3230_rns_2013-04-18_7abced83-c385-46a5-a3b9-e26f66d36d55.pdf

Financial Supplement Data

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NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012


NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONSOLIDATED INCOME STATEMENT - Restated

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Revenue 17,853 4,597 13,256 4,505 8,751 4,297 4,454
Other income 98 13 85 7 78 18 60
Share of profit (loss) of associates and joint ventures -3 -7 4 4 0 5 -5
Materials and services -16,186 -4,210 -11,976 -3,932 -8,044 -4,088 -3,956
Employee benefit costs -339 -96 -243 -73 -170 -86 -84
Depreciation, amortization and impairments -332 -85 -247 -81 -166 -83 -83
Other expenses -767 -160 -607 -234 -373 -178 -195
Operating profit 324 52 272 196 76 -115 191
Financial income and expenses
Financial income 3 1 2 0 2 1 1
Financial expenses -87 -19 -68 -23 -45 -23 -22
Exchange rate and fair value gains and losses -7 1 -8 -1 -7 -6 -1
Total financial income and expenses -91 -17 -74 -24 -50 -28 -22
Profit before income taxes 233 35 198 172 26 -143 169
Income tax expense -74 -18 -56 -41 -15 31 -46
Profit for the period 159 17 142 131 11 -112 123
Profit attributable to:
Owners of the parent 157 17 140 131 9 -113 122
Non-controlling interests 2 0 2 0 2 1 1
159 17 142 131 11 -112 123
Earnings per share from profit attributable to the owners of the parent basic and diluted (in euro per share) 0.61 0.06 0.55 0.51 0.04 -0.44 0.48
STATEMENT OF COMPREHENSIVE INCOME - Restated
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Profit for the period 159 17 142 131 11 -112 123
Other comprehensive income:
Items that will not be reclassified to profit or loss, net of tax
Remeasurements on defined benefit plans -29 -8 -21 -7 -14 -7 -7
Items that may be reclassified subsequently to profit or loss, net of tax
Translation differences 10 -10 20 12 8 3 5
Cash flow hedges
recorded in equity -50 21 -71 -36 -35 -34 27
transferred to income statement 84 -3 87 48 39 25 -14
Net investment hedges -1 0 -1 -1 0 0 0
Hedging reserves in associates and joint ventures -1 0 -1 -1 0 0 0
Total 42 8 34 22 12 -6 18
Other comprehensive income for the period, net of tax 13 0 13 15 -2 -13 11
Total comprehensive income for the period 172 17 155 146 9 -125 134
Total comprehensive income attributable to:
Owners of the parent 170 17 153 146 7 -126 133
Non-controlling interests 2 0 2 0 2 1 1
172 17 155 146 9 -125 134

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONSOLIDATED INCOME STATEMENT - Published

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Revenue 17,853 4,597 13,256 4,505 8,751 4,297 4,454
Other income 98 13 85 7 78 18 60
Share of profit (loss) of associates and joint ventures -3 -7 4 4 0 5 -5
Materials and services -16,186 -4,210 -11,976 -3,932 -8,044 -4,088 -3,956
Employee benefit costs -342 -91 -251 -76 -175 -88 -87
Depreciation, amortization and impairments -332 -85 -247 -81 -166 -83 -83
Other expenses -767 -160 -607 -234 -373 -178 -195
Operating profit 321 57 264 193 71 -117 188
Financial income and expenses
Financial income 3 1 2 0 2 1 1
Financial expenses -84 -18 -66 -22 -44 -22 -22
Exchange rate and fair value gains and losses -7 1 -8 -1 -7 -6 -1
Total financial income and expenses -88 -16 -72 -23 -49 -27 -22
Profit before income taxes 233 41 192 170 22 -144 166
Income tax expense -74 -20 -54 -40 -14 31 -45
Profit for the period 159 21 138 130 8 -113 121
Profit attributable to:
Owners of the parent 157 21 136 130 6 -114 120
Non-controlling interests 2 0 2 0 2 1 1
159 21 138 130 8 -113 121
Earnings per share from profit attributable to the owners of the parent basic and diluted (in euro per share) 0.61 0.08 0.53 0.51 0.03 -0.44 0.47

STATEMENT OF COMPREHENSIVE INCOME - Published

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Profit for the period 159 21 138 130 8 -113 121
Other comprehensive income for the period, net of tax:
Translation differences 10 -10 20 12 8 3 5
Cash flow hedges
recorded in equity -50 21 -71 -36 -35 -34 27
transferred to income statement 84 -3 87 48 39 25 -14
Net investment hedges -1 0 -1 -1 0 0 0
Hedging reserves in associates and joint ventures -1 0 -1 -1 0 0 0
Other comprehensive income for the period, net of tax 42 8 34 22 12 -6 18
Total comprehensive income for the period 201 29 172 152 20 -119 139
Total comprehensive income attributable to:
Owners of the parent 199 29 170 152 18 -120 138
Non-controlling interests 2 0 2 0 2 1 1
201 29 172 152 20 -119 139

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

RECONSOLIDATION BETWEEN RESTATED AND PUBLISHED CONSOLIDATED INCOME STATEMENT

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Revenue 0 0 0 0 0 0 0
Other income 0 0 0 0 0 0 0
Share of profit (loss) of associates and joint ventures 0 0 0 0 0 0 0
Materials and services 0 0 0 0 0 0 0
Employee benefit costs 3 -5 8 3 5 2 3
Depreciation, amortization and impairments 0 0 0 0 0 0 0
Other expenses 0 0 0 0 0 0 0
Operating profit 3 -5 8 3 5 2 3
Financial income and expenses
Financial income 0 0 0 0 0 0 0
Financial expenses -3 -1 -2 -1 -1 -1 0
Exchange rate and fair value gains and losses 0 0 0 0 0 0 0
Total financial income and expenses -3 -1 -2 -1 -1 -1 0
Profit before income taxes 0 -6 6 2 4 1 3
Income tax expense 0 2 -2 -1 -1 0 -1
Profit for the period 0 -4 4 1 3 1 2
Profit attributable to: 0 0 0 0 0 0 0
Owners of the parent 0 -4 4 1 3 1 2
Non-controlling interests 0 0 0 0 0 0 0
0 -4 4 1 3 1 2
Earnings per share from profit attributable to the owners of the parent basic and diluted (in euro per share) 0.00 -0.02 0.02 0.00 0.01 0.00 0.01

RECONSOLIDATION BETWEEN RESTATED AND PUBLISHED STATEMENT OF COMPREHENSIVE INCOME

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Profit for the period 0 -4 4 1 3 1 2
Other comprehensive income:
Items that will not be reclassified to profit or loss, net of tax
Remeasurements on defined benefit plans -29 -8 -21 -7 -14 -7 -7
Items that may be reclassified subsequently to profit or loss, net of tax
Translation differences 0 0 0 0 0 0 0
Cash flow hedges
recorded in equity 0 0 0 0 0 0 0
transferred to income statement 0 0 0 0 0 0 0
Net investment hedges 0 0 0 0 0 0 0
Hedging reserves in associates and joint ventures 0 0 0 0 0 0 0
Total 0 0 0 0 0 0 0
Other comprehensive income for the period, net of tax -29 -8 -21 -7 -14 -7 -7
Total comprehensive income for the period -29 -12 -17 -6 -11 -6 -5
Total comprehensive income attributable to:
Owners of the parent -29 -12 -17 -6 -11 -6 -5
Non-controlling interests 0 0 0 0 0 0 0
-29 -12 -17 -6 -11 -6 -5

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONSOLIDATED BALANCE SHEET - Restated

31 Dec 30 Sep 30 June 31 March
MEUR 2012 2012 2012 2012
ASSETS
Non-current assets
Intangible assets 61 58 56 56
Property, plant and equipment 3,869 3,932 3,961 3,939
Investments in associates and joint ventures 242 252 242 235
Non-current receivables 3 5 5 6
Pension assets 0 0 0 0
Deferred tax assets 46 40 61 39
Derivative financial instruments 37 34 32 25
Available-for-sale financial assets 4 5 5 4
Total non-current assets 4,262 4,326 4,362 4,304
Current assets
Inventories 1,464 1,653 1,468 1,814
Trade and other receivables 1,154 1,197 1,098 1,190
Derivative financial instruments 57 102 95 128
Cash and cash equivalents 409 367 122 94
Total current assets 3,084 3,319 2,783 3,226
Assets classified as held for sale 1) 52 - - -
Total assets 7,398 7,645 7,145 7,530
EQUITY
Capital and reserves attributable to the owners of the parent
Share capital 40 40 40 40
Other equity 2,484 2,467 2,321 2,447
Total 2,524 2,507 2,361 2,487
Non-controlling interest 16 15 15 15
Total equity 2,540 2,522 2,376 2,502
LIABILITIES
Non-current liabilities
Interest-bearing liabilities 1,977 1,923 2,092 2,012
Deferred tax liabilities 340 312 313 316
Provisions 27 38 43 23
Pension liabilities 99 82 73 65
Derivative financial instruments 6 12 11 17
Other non-current liabilities 7 8 8 10
Total non-current liabilities 2,456 2,375 2,540 2,443
Current liabilities
Interest-bearing liabilities 357 667 458 524
Current tax liabilities 40 40 34 52
Derivative financial instruments 47 135 109 128
Trade and other payables 1,925 1,906 1,628 1,881
Total current liabilities 2,369 2,748 2,229 2,585
Liabilities related to assets held for sale 1) 33 - - -
Total liabilities 4,858 5,123 4,769 5,028
Total equity and liabilities 7,398 7,645 7,145 7,530

1) The assets and liabilities held for sale at 31 December 2012 relate to Neste Oil's operating activities in Poland. In December 2012 Neste Oil signed an agreement that Shell Polska Sp. z o.o. will buy Neste Oil's station network (Neste Polska Sp. z o.o.) in Poland. The transaction is expected to be closed during the first half of 2013. The operations are part of the Oil Retail segment.


NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONSOLIDATED BALANCE SHEET - Published

MEUR 31 Dec 2012 30 Sep 2012 30 June 2012 31 March 2012
ASSETS
Non-current assets
Intangible assets 61 58 56 56
Property, plant and equipment 3,869 3,932 3,961 3,939
Investments in associates and joint ventures 242 252 242 235
Non-current receivables 3 5 5 6
Pension assets 0 0 0 0
Deferred tax assets 33 32 55 35
Derivative financial instruments 37 34 32 25
Available-for-sale financial assets 4 5 5 4
Total non-current assets 4,249 4,318 4,356 4,300
Current assets
Inventories 1,464 1,653 1,468 1,814
Trade and other receivables 1,154 1,197 1,098 1,190
Derivative financial instruments 57 102 95 128
Cash and cash equivalents 409 367 122 94
Total current assets 3,084 3,319 2,783 3,226
Assets classified as held for sale 1) 52 - - -
Total assets 7,385 7,637 7,139 7,526
EQUITY
Capital and reserves attributable to the owners of the parent
Share capital 40 40 40 40
Other equity 2,522 2,493 2,341 2,461
Total 2,562 2,533 2,381 2,501
Non-controlling interest 16 15 15 15
Total equity 2,578 2,548 2,396 2,516
LIABILITIES
Non-current liabilities
Interest-bearing liabilities 1,977 1,923 2,092 2,012
Deferred tax liabilities 340 312 313 316
Provisions 27 38 43 23
Pension liabilities 48 48 47 47
Derivative financial instruments 6 12 11 17
Other non-current liabilities 7 8 8 10
Total non-current liabilities 2,405 2,341 2,514 2,425
Current liabilities
Interest-bearing liabilities 357 667 458 524
Current tax liabilities 40 40 34 52
Derivative financial instruments 47 135 109 128
Trade and other payables 1,925 1,906 1,628 1,881
Total current liabilities 2,369 2,748 2,229 2,585
Liabilities related to assets held for sale 1) 33 - - -
Total liabilities 4,807 5,089 4,743 5,010
Total equity and liabilities 7,385 7,637 7,139 7,526

1) The assets and liabilities held for sale at 31 December 2012 relate to Neste Oil's operating activities in Poland. In December 2012 Neste Oil signed an agreement that Shell Polska Sp. z o.o. will buy Neste Oil's station network (Neste Polska Sp. z o.o.) in Poland. The transaction is expected to be closed during the first half of 2013. The operations are part of the Oil Retail segment.


NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

RECONCONSOLIDATION BETWEEN RESTATED AND PUBLISHED CONSOLIDATED BALANCE SHEET

MEUR 31 Dec 2012 30 Sep 2012 30 June 2012 31 March 2012
ASSETS
Non-current assets
Intangible assets 0 0 0 0
Property, plant and equipment 0 0 0 0
Investments in associates and joint ventures 0 0 0 0
Non-current receivables 0 0 0 0
Pension assets 0 0 0 0
Deferred tax assets 13 8 6 4
Derivative financial instruments 0 0 0 0
Available-for-sale financial assets 0 0 0 0
Total non-current assets 13 8 6 4
Current assets
Inventories 0 0 0 0
Trade and other receivables 0 0 0 0
Derivative financial instruments 0 0 0 0
Cash and cash equivalents 0 0 0 0
Total current assets 0 0 0 0
Assets classified as held for sale 1) 0 0 0 0
Total assets 13 8 6 4
EQUITY
Capital and reserves attributable to the owners of the parent
Share capital 0 0 0 0
Other equity -38 -26 -20 -14
Total -38 -26 -20 -14
Non-controlling interest 0 0 0 0
Total equity -38 -26 -20 -14
LIABILITIES
Non-current liabilities
Interest-bearing liabilities 0 0 0 0
Deferred tax liabilities 0 0 0 0
Provisions 0 0 0 0
Pension liabilities 51 34 26 18
Derivative financial instruments 0 0 0 0
Other non-current liabilities 0 0 0 0
Total non-current liabilities 51 34 26 18
Current liabilities
Interest-bearing liabilities 0 0 0 0
Current tax liabilities 0 0 0 0
Derivative financial instruments 0 0 0 0
Trade and other payables 0 0 0 0
Total current liabilities 0 0 0 0
Liabilities related to assets held for sale 1) 0 0 0 0
Total liabilities 51 34 26 18
Total equity and liabilities 13 8 6 4

1) The assets and liabilities held for sale at 31 December 2012 relate to Neste Oil's operating activities in Poland. In December 2012 Neste Oil signed an agreement that Shell Polska Sp. z o.o. will buy Neste Oil's station network (Neste Polska Sp. z o.o.) in Poland. The transaction is expected to be closed during the first half of 2013. The operations are part of the Oil Retail segment.


NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONSOLIDATED STATEMENT OF CHANGES IN TOTAL EQUITY - Restated

Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
MEUR
Total equity at 31 December 2011 40 15 -23 -7 0 2,428 2,453 14 2,467
Change in accounting policy (IAS 19) -9
Total equity at 1 January 2012 40 15 -23 -7 0 2,419 2,444 14 2,458
Dividend paid -90 -90 0 -90
Share-based compensation 0 0 0
Transfer from retained earnings 2 -2 0 0
Total comprehensive income for the period 13 5 -7 122 133 1 134
Total equity at 31 March 2012 40 17 -10 -2 -7 2,449 2,487 15 2,502
Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
MEUR
Total equity at 1 January 2012 40 15 -23 -7 0 2,419 2,444 14 2,458
Dividend paid -90 -90 -1 -91
Share-based compensation 0 0 0
Transfer from retained earnings 2 -2 0 0
Total comprehensive income for the period 4 8 -14 9 7 2 9
Total equity at 30 June 2012 40 17 -19 1 -14 2,336 2,361 15 2,376
Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
MEUR
Total equity at 1 January 2012 40 15 -23 -7 0 2,419 2,444 14 2,458
Dividend paid -90 -90 -1 -91
Share-based compensation 0 0 0
Transfer from retained earnings 2 -2 0 0
Total comprehensive income for the period 14 20 -21 140 153 2 155
Total equity at 30 September 2012 40 17 -9 13 -21 2,467 2,507 15 2,522
Share capital Reserve fund Fair value and other Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
Total equity at 1 January 2012 40 15 -23 -7 0 2,419 2,444 14 2,458
Dividend paid -90 -90 0 -90
Share-based compensation 0 0
Transfer from retained earnings 3 -3 0 0
Total comprehensive income for the period 33 9 -29 157 170 2 172
Total equity at 31 December 2012 40 18 10 2 -29 2,483 2,524 16 2,540

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONSOLIDATED STATEMENT OF CHANGES IN TOTAL EQUITY - Published

MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
Total equity at 1 January 2012 40 15 -23 -7 0 2,428 2,453 14 2,467
Dividend paid -90 -90 0 -90
Share-based compensation 0 0 0
Transfer from retained earnings 2 -2 0 0
Total comprehensive income for the period 13 5 0 120 138 1 139
Total equity at 31 March 2012 40 17 -10 -2 0 2,456 2,501 15 2,516
MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
--- --- --- --- --- --- --- --- --- ---
Total equity at 1 January 2012 40 15 -23 -7 0 2,428 2,453 14 2,467
Dividend paid -90 -90 -1 -91
Share-based compensation 0 0 0
Transfer from retained earnings 2 -2 0 0
Total comprehensive income for the period 4 8 0 6 18 2 20
Total equity at 30 June 2012 40 17 -19 1 0 2,342 2,381 15 2,396
MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
--- --- --- --- --- --- --- --- --- ---
Total equity at 1 January 2012 40 15 -23 -7 0 2,428 2,453 14 2,467
Dividend paid -90 -90 -1 -91
Share-based compensation 0 0 0
Transfer from retained earnings 2 -2 0 0
Total comprehensive income for the period 14 20 0 136 170 2 172
Total equity at 30 September 2012 40 17 -9 13 0 2,472 2,533 15 2,548
MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
--- --- --- --- --- --- --- --- --- ---
Total equity at 1 January 2012 40 15 -23 -7 0 2,428 2,453 14 2,467
Dividend paid -90 -90 0 -90
Share-based compensation 0 0 0
Transfer from retained earnings 3 -3 0 0
Total comprehensive income for the period 33 9 0 157 199 2 201
Total equity at 31 December 2012 40 18 10 2 0 2,492 2,562 16 2,578

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

RECONCONSOLIDATION BETWEEN RESTATED AND PUBLISHED CONSOLIDATED STATEMENT OF CHANGES IN TOTAL EQUITY

MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
Total equity at 1 January 2012 0 0 0 0 0 -9 -9 0 -9
Dividend paid 0 0 0 0
Share-based compensation 0 0 0 0
Transfer from retained earnings 0 0 0 0 0
Total comprehensive income for the period 0 0 -7 2 -5 0 -5
Total equity at 31 March 2012 0 0 0 0 -7 -7 -14 0 -14
MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
Total equity at 1 January 2012 0 0 0 0 0 -9 -9 0 -9
Dividend paid 0 0 0 0
Share-based compensation 0 0 0 0
Transfer from retained earnings 0 0 0 0 0
Total comprehensive income for the period 0 0 -14 3 -11 0 -11
Total equity at 30 June 2012 0 0 0 0 -14 -6 -20 0 -20
MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
Total equity at 1 January 2012 0 0 0 0 0 -9 -9 0 -9
Dividend paid 0 0 0 0
Share-based compensation 0 0 0 0
Transfer from retained earnings 0 0 0 0 0
Total comprehensive income for the period 0 0 -21 4 -17 0 -17
Total equity at 30 September 2012 0 0 0 0 -21 -5 -26 0 -26
MEUR Share capital Reserve fund Fair value and other reserves Translation differences Accuarial gains and losses Retained earnings Owners of the parent Non-controlling interests Total equity
Total equity at 1 January 2012 0 0 0 0 0 -9 -9 0 -9
Dividend paid 0 0 0 0
Share-based compensation 0 0 0 0
Transfer from retained earnings 0 0 0 0 0
Total comprehensive income for the period 0 0 -29 0 -29 0 -29
Total equity at 31 December 2012 0 0 0 0 -29 -9 -38 0 -38

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

CONDENSED CONSOLIDATED CASH FLOW STATEMENT - Restated

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Cash flow from operating activities
Profit before taxes 233 35 198 172 26 -143 169
Adjustments, total 423 99 324 145 179 116 63
Change in working capital -44 204 -248 25 -273 260 -533
Cash generated from operations 612 338 274 342 -68 233 -301
Finance cost, net -106 -13 -93 -49 -44 -5 -39
Income taxes paid -38 2 -40 0 -40 -27 -13
Net cash generated from operating activities 468 327 141 293 -152 201 -353
Capital expenditure -291 -81 -210 -51 -159 -111 -48
Acquisition of other shares -1 0 -1 0 -1 -1 0
Proceeds from sales of shares in subsidiaries - - - - - - -
Proceeds from capital repayments in associates and joint venture 2 - 2 2 - - -
Proceeds from sales of fixed assets 79 1 78 3 75 1 74
Change in other investments 3 42 -39 -32 -7 28 -35
Cash flow before financing activities 260 289 -29 215 -244 118 -362
Net change in loans and other financing activities -65 -247 182 29 153 1 152
Dividends paid to the owners of the parent -90 - -90 - -90 -90 -
Dividends paid to non-controlling interests 0 1 -1 - -1 -1 -
Net increase (+)/decrease (-) in cash and cash equivalents 105 43 62 244 -182 28 -210

CONDENSED CONSOLIDATED CASH FLOW STATEMENT - Published

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Cash flow from operating activities
Profit before taxes 233 41 192 170 22 -144 166
Adjustments, total 420 92 328 147 181 116 65
Change in working capital -44 204 -248 25 -273 260 -533
Cash generated from operations 609 337 272 342 -70 232 -302
Finance cost, net -103 -12 -91 -49 -42 -4 -38
Income taxes paid -38 2 -40 0 -40 -27 -13
Net cash generated from operating activities 468 327 141 293 -152 201 -353
Capital expenditure -291 -81 -210 -51 -159 -111 -48
Acquisition of other shares -1 0 -1 0 -1 -1 0
Proceeds from sales of shares in subsidiaries - - - - - - -
Proceeds from capital repayments in associates and joint venture 2 - 2 2 - - -
Proceeds from sales of fixed assets 79 1 78 3 75 1 74
Change in other investments 3 42 -39 -32 -7 28 -35
Cash flow before financing activities 260 289 -29 215 -244 118 -362
Net change in loans and other financing activities -65 -247 182 29 153 1 152
Dividends paid to the owners of the parent -90 - -90 - -90 -90 -
Dividends paid to non-controlling interests 0 1 -1 - -1 -1 -
Net increase (+)/decrease (-) in cash and cash equivalents 105 43 62 244 -182 28 -210

RECONCONSOLIDATION BETWEEN RESTATED AND PUBLISHED CONDENSED CONSOLIDATED CASH FLOW STATEMENT

MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Cash flow from operating activities
Profit before taxes 0 -6 6 2 4 1 3
Adjustments, total 3 7 -4 -2 -2 0 -2
Change in working capital 0 0 0 0 0 0 0
Cash generated from operations 3 1 2 0 2 1 1
Finance cost, net -3 -1 -2 0 -2 -1 -1
Income taxes paid 0 0 0 0 0 0 0
Net cash generated from operating activities 0 0 0 0 0 0 0
Capital expenditure 0 0 0 0 0 0 0
Acquisition of other shares 0 0 0 0 0 0 0
Proceeds from sales of shares in subsidiaries 0 0 0 0 0 0 0
Proceeds from capital repayments in associates and joint venture 0 0 0 0 0 0 0
Proceeds from sales of fixed assets 0 0 0 0 0 0 0
Change in other investments 0 0 0 0 0 0 0
Cash flow before financing activities 0 0 0 0 0 0 0
Net change in loans and other financing activities 0 0 0 0 0 0 0
Dividends paid to the owners of the parent 0 0 0 0 0 0 0
Dividends paid to non-controlling interests 0 0 0 0 0 0 0
Net increase (+)/decrease (-) in cash and cash equivalents 0 0 0 0 0 0 0

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

KEY FINANCIAL INDICATORS - Restated
31 Dec 2012 30 Sep 2012 30 June 2012 31 March 2012
Capital employed, MEUR 4,885 5,111 4,926 5,037
Interest-bearing net debt, MEUR 1,935 2,222 2,428 2,442
Capital expenditure and investment in shares, MEUR 292 211 160 48
Return on average capital employed, after tax, ROACE % 5.0 - - -
Return on capital employed, pre-tax, ROCE % 6.6 7.1 2.9 15.5
Return on equity, % 6.3 7.6 0.9 19.8
Equity per share, EUR 9.86 9.79 9.22 9.72
Cash flow per share, EUR 1.83 0.55 -0.59 -1.38
Price/earnings ratio (P/E) 15.97 - - -
Equity-to-assets ratio, % 34.4 33.0 33.3 33.3
Leverage ratio, % 43.2 46.8 50.5 49.4
Gearing, % 76.2 88.1 102.2 97.6
EBITDA 656 519 242 274
Comparable operating profit 355 278 119 79
Comparable net profit 180 - - -
Comparable earning per share, EUR 0.70 - - -
Dividend per share 0.38 - - -
Dividend payout ratio, % 62.1 - - -
Dividend yield, % 3.9 - - -
Average number of shares 255,918,686 255,918,686 255,918,686 255,918,686
Number of shares at the end of the period 255,918,686 255,918,686 255,918,686 255,918,686
Average number of personnel 5,031 5,035 4,985 4,881
KEY FINANCIAL INDICATORS - Published
31 Dec 2012 30 Sep 2012 30 June 2012 31 March 2012
Capital employed, MEUR 4,923 5,137 4,946 5,052
Interest-bearing net debt, MEUR 1,935 2,222 2,428 2,442
Capital expenditure and investment in shares, MEUR 292 211 160 48
Return on average capital employed, after tax, ROACE % 4.9 - - -
Return on capital employed, pre-tax, ROCE % 6.5 6.9 2.7 15.2
Return on equity, % 6.3 7.3 0.7 19.4
Equity per share, EUR 10.01 9.90 9.30 9.77
Cash flow per share, EUR 1.83 0.55 -0.59 -1.38
Price/earnings ratio (P/E) 15.96 - - -
Equity-to-assets ratio, % 35.0 33.4 33.6 33.5
Leverage ratio, % 42.9 46.6 50.3 49.3
Gearing, % 75.1 87.2 101.3 97.1
EBITDA 653 511 237 271
Comparable operating profit 352 270 114 76
Comparable net profit 180 - - -
Comparable earning per share, EUR 0.70 - - -
Dividend per share 0.38 - - -
Dividend payout ratio, % 62.1 - - -
Dividend yield, % 3.9 - - -
Average number of shares 255,918,686 255,918,686 255,918,686 255,918,686
Number of shares at the end of the period 255,918,686 255,918,686 255,918,686 255,918,686
Average number of personnel 5,031 5,035 4,985 4,881
RECONCONSOLIDATION BETWEEN RESTATED AND PUBLISHED KEY FINANCIAL INDICATORS
31 Dec 2012 30 Sep 2012 30 June 2012 31 March 2012
Capital employed, MEUR -38 -26 -20 -15
Interest-bearing net debt, MEUR 0 0 0 0
Capital expenditure and investment in shares, MEUR 0 0 0 0
Return on average capital employed, after tax, ROACE % 0.10 0.00 0.00 0.00
Return on capital employed, pre-tax, ROCE % 0.1 0.2 0.2 0.3
Return on equity, % 0.0 0.3 0.2 0.4
Equity per share, EUR -0.15 -0.11 -0.08 -0.05
Cash flow per share, EUR 0.00 0.00 0.00 0.00
Price/earnings ratio (P/E) 0.01 0.00 0.00 0.00
Equity-to-assets ratio, % -0.6 -0.4 -0.3 -0.2
Leverage ratio, % 0.3 0.2 0.2 0.1
Gearing, % 1.1 0.9 0.9 0.5
EBITDA 3.0 8.0 5.0 3.0
Comparable operating profit 3.0 8.0 5.0 3.0
Comparable net profit 0.0 - - -
Comparable earning per share, EUR 0.00 - - -
Dividend per share 0.00 0.00 0.00 0.00
Dividend payout ratio, % 0.00 0.00 0.00 0.00
Dividend yield, % 0.00 0.00 0.00 0.00
Average number of shares 0 0 0 0
Number of shares at the end of the period 0 0 0 0
Average number of personnel 0 0 0 0

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

SEGMENT INFORMATION - Restated

REVENUE
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 13,764 3,607 10,157 3,389 6,768 3,224 3,544
Renewable Fuels 2,163 505 1,658 597 1,061 595 466
Oil Retail 4,895 1,258 3,637 1,266 2,371 1,181 1,190
Others 199 45 154 48 106 54 52
Eliminations -3,168 -818 -2,350 -795 -1,555 -757 -798
Total 17,853 4,597 13,256 4,505 8,751 4,297 4,454
OPERATING PROFIT
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 491 128 363 248 115 -80 195
Renewable Fuels -183 -43 -140 -73 -67 -59 -8
Oil Retail 58 5 53 23 30 15 15
Others -42 -40 -2 2 -4 3 -7
Eliminations 0 2 -2 -4 2 6 -4
Total 324 52 272 196 76 -115 191
COMPARABLE OPERATING PROFIT
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 396 116 280 154 126 49 77
Renewable Fuels -56 -2 -54 -19 -35 -33 -2
Oil Retail 58 5 53 23 30 15 15
Others -43 -42 -1 3 -4 3 -7
Eliminations 0 0 0 -2 2 6 -4
Total 355 77 278 159 119 40 79
DEPRECIATION, AMORTIZATION AND IMPAIRMENTS
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 187 46 141 46 95 47 48
Renewable Fuels 99 26 73 24 49 25 24
Oil Retail 33 9 24 8 16 8 8
Others 13 4 9 3 6 3 3
Total 332 85 247 81 166 83 83
CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 180 55 125 32 93 69 24
Renewable Fuels 51 7 44 3 41 26 15
Oil Retail 36 11 25 10 15 11 4
Others 25 8 17 6 11 6 5
Total 292 81 211 51 160 112 48
TOTAL ASSETS 31 Dec 30 Sep 30 June 31 March
MEUR 2012 2012 2012 2012
Oil Products 3,847 4,052 3,750 4,097
Renewable Fuels 2,134 2,160 2,264 2,349
Oil Retail 677 702 629 674
Others 417 431 433 419
Unallocated assets 609 591 352 312
Eliminations -286 -291 -283 -321
Total 7,398 7,645 7,145 7,530

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

NET ASSETS
31 Dec 30 Sep 30 June 31 March
MEUR 2012 2012 2012 2012
Oil Products 2,252 2,451 2,403 2,558
Renewable Fuels 1,860 1,857 2,039 2,122
Oil Retail 345 348 313 344
Others 260 297 286 182
Eliminations -3 -4 -2 -7
Total 4,714 4,949 5,039 5,199
RETURN ON NET ASSETS, %
31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 20.6 20.1 9.6 32.6
Renewable Fuels -9.3 -9.4 -6.6 -1.6
Oil Retail 17.3 21.2 18.3 17.9
COMPARABLE RETURN ON NET ASSETS, %
31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 16.6 15.5 10.5 12.9
Renewable Fuels -2.8 -3.6 -3.4 -0.4
Oil Retail 17.3 21.2 18.3 17.9

QUARTERLY SEGMENT INFORMATION

QUARTERLY REVENUE
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 3,607 3,389 3,224 3,544
Renewable Fuels 505 597 595 466
Oil Retail 1,258 1,266 1,181 1,190
Others 45 48 54 52
Eliminations -818 -795 -757 -798
Total 4,597 4,505 4,297 4,454
QUARTERLY OPERATING PROFIT
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 128 248 -80 195
Renewable Fuels -43 -73 -59 -8
Oil Retail 5 23 15 15
Others -40 2 3 -7
Eliminations 2 -4 6 -4
Total 52 196 -115 191
QUARTERLY COMPARABLE OPERATING PROFIT
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 116 154 49 77
Renewable Fuels -2 -19 -33 -2
Oil Retail 5 23 15 15
Others -42 3 3 -7
Eliminations 0 -2 6 -4
Total 77 159 40 79
QUARTERLY DEPRECIATION, AMORTIZATION AND IMPAIRMENTS
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 46 46 47 48
Renewable Fuels 26 24 25 24
Oil Retail 9 8 8 8
Others 4 3 3 3
Total 85 81 83 83
QUARTERLY CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 55 32 69 24
Renewable Fuels 7 3 26 15
Oil Retail 11 10 11 4
Others 8 6 6 5
Total 81 51 112 48

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

SEGMENT INFORMATION - Published

REVENUE
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 13,764 3,607 10,157 3,389 6,768 3,224 3,544
Renewable Fuels 2,163 505 1,658 597 1,061 595 466
Oil Retail 4,895 1,258 3,637 1,266 2,371 1,181 1,190
Others 199 45 154 48 106 54 52
Eliminations -3,168 -818 -2,350 -795 -1,555 -757 -798
Total 17,853 4,597 13,256 4,505 8,751 4,297 4,454
OPERATING PROFIT
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 491 128 363 248 115 -80 195
Renewable Fuels -183 -43 -140 -73 -67 -59 -8
Oil Retail 58 5 53 23 30 15 15
Others -45 -35 -10 -1 -9 1 -10
Eliminations 0 2 -2 -4 2 6 -4
Total 321 57 264 193 71 -117 188
COMPARABLE OPERATING PROFIT
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 396 116 280 154 126 49 77
Renewable Fuels -56 -2 -54 -19 -35 -33 -2
Oil Retail 58 5 53 23 30 15 15
Others -46 -37 -9 0 -9 1 -10
Eliminations 0 0 0 -2 2 6 -4
Total 352 82 270 156 114 38 76
DEPRECIATION, AMORTIZATION AND IMPAIRMENTS
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 187 46 141 46 95 47 48
Renewable Fuels 99 26 73 24 49 25 24
Oil Retail 33 9 24 8 16 8 8
Others 13 4 9 3 6 3 3
Total 332 85 247 81 166 83 83
CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 180 55 125 32 93 69 24
Renewable Fuels 51 7 44 3 41 26 15
Oil Retail 36 11 25 10 15 11 4
Others 25 8 17 6 11 6 5
Total 292 81 211 51 160 112 48
TOTAL ASSETS 31 Dec 30 Sep 30 June 31 March
MEUR 2012 2012 2012 2012
Oil Products 3,847 4,052 3,750 4,097
Renewable Fuels 2,134 2,160 2,264 2,349
Oil Retail 677 702 629 674
Others 417 431 433 419
Unallocated assets 596 583 346 308
Eliminations -286 -291 -283 -321
Total 7,385 7,637 7,139 7,526

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

NET ASSETS
MEUR 31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 2,252 2,451 2,403 2,558
Renewable Fuels 1,860 1,857 2,039 2,122
Oil Retail 345 348 313 344
Others 311 331 312 200
Eliminations -3 -4 -2 -7
Total 4,765 4,983 5,065 5,217
RETURN ON NET ASSETS, %
31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 20.6 20.1 9.6 32.6
Renewable Fuels -9.3 -9.4 -6.6 -1.6
Oil Retail 17.3 21.2 18.3 17.9
COMPARABLE RETURN ON NET ASSETS, %
31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 16.6 15.5 10.5 12.9
Renewable Fuels -2.8 -3.6 -3.4 -0.4
Oil Retail 17.3 21.2 18.3 17.9

QUARTERLY SEGMENT INFORMATION

QUARTERLY REVENUE
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 3,607 3,389 3,224 3,544
Renewable Fuels 505 597 595 466
Oil Retail 1,258 1,266 1,181 1,190
Others 45 48 54 52
Eliminations -818 -795 -757 -798
Total 4,597 4,505 4,297 4,454
QUARTERLY OPERATING PROFIT
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 128 248 -80 195
Renewable Fuels -43 -73 -59 -8
Oil Retail 5 23 15 15
Others -35 -1 1 -10
Eliminations 2 -4 6 -4
Total 57 193 -117 188
QUARTERLY COMPARABLE OPERATING PROFIT
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 116 154 49 77
Renewable Fuels -2 -19 -33 -2
Oil Retail 5 23 15 15
Others -37 0 1 -10
Eliminations 0 -2 6 -4
Total 82 156 38 76
QUARTERLY DEPRECIATION, AMORTIZATION AND IMPAIRMENTS
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 46 46 47 48
Renewable Fuels 26 24 25 24
Oil Retail 9 8 8 8
Others 4 3 3 3
Total 85 81 83 83
QUARTERLY CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 55 32 69 24
Renewable Fuels 7 3 26 15
Oil Retail 11 10 11 4
Others 8 6 6 5
Total 81 51 112 48

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

RECONCONSOLIDATION BETWEEN RESTATED AND PUBLISHED SEGMENT INFORMATION

REVENUE
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0 0 0 0
Renewable Fuels 0 0 0 0 0 0 0
Oil Retail 0 0 0 0 0 0 0
Others 0 0 0 0 0 0 0
Eliminations 0 0 0 0 0 0 0
Total 0 0 0 0 0 0 0
OPERATING PROFIT
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0 0 0 0
Renewable Fuels 0 0 0 0 0 0 0
Oil Retail 0 0 0 0 0 0 0
Others 3 -5 8 3 5 2 3
Eliminations 0 0 0 0 0 0 0
Total 3 -5 8 3 5 2 3
COMPARABLE OPERATING PROFIT
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0 0 0 0
Renewable Fuels 0 0 0 0 0 0 0
Oil Retail 0 0 0 0 0 0 0
Others 3 -5 8 3 5 2 3
Eliminations 0 0 0 0 0 0 0
Total 3 -5 8 3 5 2 3
DEPRECIATION, AMORTIZATION AND IMPAIRMENTS
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0 0 0 0
Renewable Fuels 0 0 0 0 0 0 0
Oil Retail 0 0 0 0 0 0 0
Others 0 0 0 0 0 0 0
Total 0 0 0 0 0 0 0
CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES
MEUR 1-12/2012 10-12/2012 1-9/2012 7-9/2012 1-6/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0 0 0 0
Renewable Fuels 0 0 0 0 0 0 0
Oil Retail 0 0 0 0 0 0 0
Others 0 0 0 0 0 0 0
Total 0 0 0 0 0 0 0
TOTAL ASSETS 31 Dec 30 Sep 30 June 31 March
MEUR 2012 2012 2012 2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others 0 0 0 0
Unallocated assets 13 8 6 4
Eliminations 0 0 0 0
Total 13 8 6 4

NESTE OIL'S COMPARATIVES FOR JAN 1- DEC 31, 2012

NET ASSETS 31 Dec 30 Sep 30 June 31 March
MEUR 2012 2012 2012 2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others -51 -34 -26 -18
Eliminations 0 0 0 0
Total -51 -34 -26 -18
RETURN ON NET ASSETS, % 31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 0.0 0.0 0.0 0.0
Renewable Fuels 0.0 0.0 0.0 0.0
Oil Retail 0.0 0.0 0.0 0.0
COMPARABLE RETURN ON NET ASSETS, % 31 Dec 30 Sep 30 June 31 March
2012 2012 2012 2012
Oil Products 0.0 0.0 0.0 0.0
Renewable Fuels 0.0 0.0 0.0 0.0
Oil Retail 0.0 0.0 0.0 0.0

QUARTERLY SEGMENT INFORMATION

QUARTERLY REVENUE
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others 0 0 0 0
Eliminations 0 0 0 0
Total 0 0 0 0
QUARTERLY OPERATING PROFIT
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others -5 3 2 3
Eliminations 0 0 0 0
Total -5 3 2 3
QUARTERLY COMPARABLE OPERATING PROFIT
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others -5 3 2 3
Eliminations 0 0 0 0
Total -5 3 2 3
QUARTERLY DEPRECIATION, AMORTIZATION AND IMPAIRMENTS
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others 0 0 0 0
Total 0 0 0 0
QUARTERLY CAPITAL EXPENDITURE AND INVESTMENTS IN SHARES
--- --- --- --- ---
MEUR 10-12/2012 7-9/2012 4-6/2012 1-3/2012
Oil Products 0 0 0 0
Renewable Fuels 0 0 0 0
Oil Retail 0 0 0 0
Others 0 0 0 0
Total 0 0 0 0