Ticker NES1V
Recommendation N/A
Share price EUR 8.98

Neste Oil

Following started
Estimates updated
Price updated
Page generated 		Feb 21, 2006 9:56:00 AM EET
Nov 1, 2011 11:37:55 PM EET
Jan 27, 2012 8:05:55 PM EET
Jan 27, 2012 9:51:55 PM EET 
 


 

Estimates on a dark background are based on consensus estimates that are collected from the market. Valuatum calculates the other estimates using the consensus estimates and its own analysis. Actual figures are collected from company disclosures. More information can be found on Valuatum's web site.
Income statement (EURm) 
 2008 
 2009 
 2010 
 2011e 
 2012e 
 2013e 
Net sales15,043 9,636 11,892 15,351 16,118 16,835
EBITDA409 569 582 692 711 802
EBIT186 335 323 389 391 474
Non-recurring items in EBIT-416 219 83.0 198 0.0 0.0
EBIT without non-rec. items602 116 240 191 391 474
Pre-tax profit (PTP)129 296 296 335 333 421
Pre-tax profit without non-rec. items545 77.0 213 137 333 421
Net earnings97.0 221 229 240 257 308
Adjusted net earnings405 58.9 163 93.4 257 308
Free cash flow119 -638 163 -204 286 384
See the entire income statement

Balance sheet (EURm) 
 2008 
 2009 
 2010 
 2011e 
 2012e 
 2013e 
Tangible assets 2,675 3,235 3,979 3,976 3,949 3,872  
Shareholders' equity 2,171 2,210 2,414 2,564 2,757 2,967  
Interest-bearing liabilities 1,059 2,035 2,181 2,504 2,349 2,122  
Balance sheet total 4,720 5,700 6,664 7,433 7,562 7,631  
Net debt 1,004 1,918 1,801 2,136 1,962 1,718  
See the entire balance sheet

Key figures 
 2008 
 2009 
 2010 
 2011e 
 2012e 
 2013e 
Net sales growth 24.3% -35.9% 23.4% 29.1% 5.0% 4.4%  
EBITDA % 2.7% 5.9% 4.9% 4.5% 4.4% 4.8%  
EBIT % 1.2% 3.5% 2.7% 2.5% 2.4% 2.8%  
ROE % 4.2% 10.1% 9.9% 9.6% 9.7% 10.8%  
ROI % 6.1% 9.1% 7.7% 8.6% 8.2% 9.8%  
EVA -95.5 11.3 -49.9 -17.8 -29.7 14.4  
Equity ratio 46.2% 39.0% 36.4% 34.7% 36.6% 39.1%  
Gearing % 46.1% 86.3% 74.2% 82.9% 70.9% 57.7%  

Share data 
 2008 
 2009 
 2010 
 2011e 
 2012e 
 2013e 
EPS, unadjusted 0.38 0.86 0.89 0.93 1.00 1.20  
EPS, excl. non-recurring items 1.58 0.23 0.63 0.36 1.00 1.20  
FCF/share 0.46 -2.48 0.63 -0.80 1.11 1.50  
Div. per share 0.80 0.25 0.35 0.25 0.38 0.50  
BV/share 8.47 8.60 9.40 9.98 10.7 11.6  

Pricing and key ratios 
 2008 
 2009 
 2010 
 2011e 
 2012e 
 2013e 
Share price (EUR) 10.6 12.4 12.0 8.98 8.98 8.98  
Market cap (EURm) 2,713 3,191 3,070 2,307 2,307 2,307  
EV (EURm) 3,727 5,126 4,886 4,454 4,279 4,034  
MVA (EURm) 542 981 656 -257 -450 -660  
P/E 6.70 54.1 18.9 24.7 8.98 7.48  
P/FCFF 22.9 -5.0 18.8 -11.3 8.1 6.0  
P/BV 1.25 1.44 1.27 0.90 0.84 0.78  
P/Sales 0.2 0.3 0.3 0.2 0.1 0.1  
EV/EBITDA 9.1 9.0 8.4 6.4 6.0 5.0  
EV/EBIT 20.0 15.3 15.1 11.4 10.9 8.5  
Payout 211% 29.1% 39.3% 26.8% 38.0% 41.7%  
Dividend yield 7.6% 2.0% 2.9% 2.8% 4.2% 5.6%